Increase litecoin value

[Liberate]

Litecoins currently fluctuate between 0.001 and 0.002 bitcoins in value,
is there anyway that would increase?
more/less users?
more/less mines?
more commerce?

[1714973096]

1714973096

[1714973096]

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[1714973096]

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[1714973096]

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[cunicula]

Litecoins currently fluctuate between 0.001 and 0.002 bitcoins in value,
is there anyway that would increase?
more/less users?
more/less mines?
more commerce?

Proof-of-stake

[hamdi]

too bad it´s not CPU-only anymore.

[matthewh3]

Litecoins currently fluctuate between 0.001 and 0.002 bitcoins in value,
is there anyway that would increase?
more/less users?
more/less mines?
more commerce?

More users and more commerce.

[Nim]

Go one by one and talk to every merchant that takes bitcoin and ask them to take litecoin as well.

[Etlase2]

how about offering even 1 whit of difference from bitcoin

[moocow1452]

Litecoin is sort of like Bitcoin Pennies, so maybe it needs to find a niche where it can be a subdivision of wealth to an extremely small degree.

[Fuzzy]

Litecoin is sort of like Bitcoin Pennies, so maybe it needs to find a niche where it can be a subdivision of wealth to an extremely small degree.

If bitcoin succeeds in becoming "The original crypto-currency", then it will become more of a holding medium than a spendable currency, much like gold. LTC, being that block/transaction confirmations are 4x faster, and there are 4x more coins to go around, I think it will become what people eventually end up using for day to day transactions.

[Liberate]

PersonallyIi think litecoins do have a bright future.

[tacotime]

If bitcoin succeeds in becoming "The original crypto-currency", then it will become more of a holding medium than a spendable currency, much like gold. LTC, being that block/transaction confirmations are 4x faster, and there are 4x more coins to go around, I think it will become what people eventually end up using for day to day transactions.

I think the biggest advantage at the moment to litecoin is the faster block halving time, we only have a couple months to before before the reward decrease.  It's a big incentive to invest in the short term.

[sexystick]

I think the biggest advantage at the moment to litecoin is the faster block halving time, we only have a couple months to before before the reward decrease.  It's a big incentive to invest in the short term.

That is a big advantage.  Do we have an estimate of the time the reward halves?  Bitcoin's is in December this year, is Litecoin's sooner?

I also think the "Angel" investors, anyone excited about Litecoin, anyone developing projects specific to Litecoin, folks mining Litecoin & anyone actively trading Litecoin should step up and work together to INCREASE the street value of our "Precious". It's currently trading on BTC-e way below any price to make it worth spending much time working on.

I'm not encouraging Price Hiking on the markets, but if people are just hoarding LTC at this low rate instead of buying the 600,000+ Sell coins on BTC-e then Litecoin probably won't make it.  We've made it through the 2 weeks since a working GPU miner was released. It's time to bring the value UP!

Call me crazy, but I see Bitcoin as the trailblazer for a faster and more consumer friendly Litecoin.  IBM trailblazed for Microsoft, Yahoo! trailblazed for Google, MySpace trailblazed for Facebook, Napster trailblazed for Spotify.  Litecoin has great potential as a Future Digital Currency.  Let's INCREASE the street value of this mofo.

[Cosbycoin]

how about offering even 1 whit of difference from bitcoin

Scrypt.....nuff said.

[Cosbycoin]

If bitcoin succeeds in becoming "The original crypto-currency", then it will become more of a holding medium than a spendable currency, much like gold. LTC, being that block/transaction confirmations are 4x faster, and there are 4x more coins to go around, I think it will become what people eventually end up using for day to day transactions.

I think the biggest advantage at the moment to litecoin is the faster block halving time, we only have a couple months to before before the reward decrease.  It's a big incentive to invest in the short term.

I thought the first LTC block halving was at block # 840,000?

[the joint]

Litecoin is sort of like Bitcoin Pennies, so maybe it needs to find a niche where it can be a subdivision of wealth to an extremely small degree.

If bitcoin succeeds in becoming "The original crypto-currency", then it will become more of a holding medium than a spendable currency, much like gold. LTC, being that block/transaction confirmations are 4x faster, and there are 4x more coins to go around, I think it will become what people eventually end up using for day to day transactions.

+1

I think that if a secondary currency (e.g. Litecoin) is to compliment a primary currency (e.g. bitcoin), it is better if they are fundamentally similar with only a few individually marked distinctions.  Litecoin's are:

-Scrypt
-Faster confirmations
-More coins

Each of these offers multiple benefits that Bitcoin does not.  Other than these distinctions, Litecoin and Bitcoin are basically the same.  If the fundamentals of a primary currency make it as great as it is, then it seems to follow that a secondary currency should use the same fundamentals to also make itself great.

[Nim]

I'm imagining that vendors would take bitcoin and litecoin rather than one or the other. The important question is:  What would be the reasons (for the merchant or for the customer to use either one of them) to choose one over the other when it comes time to make a purchase?

Perhaps transactions below a certain value would be done with the lower value litecoins. Bitcoin may be reserved for higher value transactions. Maybe the fees might start to differentiate them. One might do fees based on number of transactions (set fee per txn) and one might do fees based on a percentage of the amount transacted. We have to start thinking about fees now and rather than a one size fits all that isn't good for every situation, we may find that the market would prefer two different strategies and make transactions based on which is the best for the job. Maybe litecoin could be used for quick confirmations of bitcoin transactions. Kind of like using another crypto currency as a transaction processor. It could maybe be used to add more utility to bitcoin without being forced to change bitcoin's protocol.

A slightly different topic and one that I've mentioned multiple times is that I would love to see litecoin become the wild, bleeding edge coin, and bitcoin stay as a staidly, reliable, rarely changing coin. I think it would be interesting to see more experiments and more untested ideas.

Maybe we can even steal the word "bitecoin" from the few who have used it. If a vendor accepts bitecoin, that means they accept bitcoin AND litecoin.

[Fuzzy]

Perhaps transactions below a certain value would be done with the lower value litecoins. Bitcoin may be reserved for higher value transactions.

There may come a day when bitcoins breach the $100 mark, and then something like a BigMac will cost B 0.05, which is kind of awkward. I'm sure there'll be a decimal shift or something to compensate, but I also think LTC will become the Silver to Bitoins Gold.

[moocow1452]

Perhaps transactions below a certain value would be done with the lower value litecoins. Bitcoin may be reserved for higher value transactions.

There may come a day when bitcoins breach the $100 mark, and then something like a BigMac will cost B 0.05, which is kind of awkward. I'm sure there'll be a decimal shift or something to compensate, but I also think LTC will become the Silver to Bitoins Gold.

Uh, for sure? Last time Bitcoin was a third of that, it collapsed under it's own weight and has been eking around the $2-5 mark. $100 seems lofty at best, but what do I know?

Gonna play Devil here and bring up if Bitcoin is decided to subdivide it's wealth among more coins where .01 BTC is the new "Bitcoin" denomination when it reaches a ludicrous amount, Litecoin is up a creek if it wants to be tender as opposed to the speculation currency, especially if something like Gox bucks becomes the new form of tender. What to do if that happens?

[kjlimo]

Has anyone in this thread actually approached a business to get them to accept a cryptocurrency?

Business owners don't care about the differences amongst the chains.  They barely understand bitcoin.

I hope that you continue to differentiate with all of these alt chains and their advantages, but they won't be seen for many years unless businesses actually start accepting the coins.

Right now it seems like you're waiting for bitcoin to do all of the leg work in establishing the market and then swoop in with a better coin.

We'll see what happens, but for now I'm back to getting businesses to accept bitcoin.

I suggest you all do the same (whether it's litecoin or bitcoin) to get businesses (brick & mortar & websites) to start accepting bitcoin.

Next time you're in a store, ask if they accept bitcoin or litecoin.  See if they react.  If there's a manager near by, then that comment may be well received.

The biggest reason businesses aren't accepting bitcoin or litecoin right now is that their customers aren't asking for it to be accepted.  Let's all work to change that!

[CoinHunter]

Might want to mention how the founder scammed people by GPU mining whilst telling everyone it was a CPU only coin. Just so they are on a level playing field as everyone else.

[El Cabron]

Might want to mention how the founder scammed people by GPU mining whilst telling everyone it was a CPU only coin. Just so they are on a level playing field as everyone else.

Every time you make a joke I crack up! Keep it up mate, you always make my day.


I hold 20,000 LTC   Wish I had more really