Litecoin Holders: Will you continue to hold or convert to Bitcoin?

[BittBurger]

Posted this on Reddit and got basically no responses.  Still wondering:

I'm really not sure what to do. I have significant Litecoin holdings. I've been holding out for that next Bitcoin spike were LTC also goes up. I planned to cash out at that point. But it's just not happening. And seeing the decoupling of the two price trends, when they were so closely tied for so long, further concerns me.

Those of you holding relevant amounts of Litecoin: Are you going to convert to Bitcoin pretty soon here? Or is there still some indication out there that LTC will be the next welcome currency after Bitcoin?  To businesses.  etc.  If we base this on infrastructure and merchant adoption, we are looking at pretty much zilch on the horizon.

Will we get one more spike in price? Or should we convert to Bitcoin now...

-B-

[DooMAD]

It's impossible to tell, really.  Just because LTC followed BTC up the last time it spiked, there's no guarantee it will happen again next time.  Because there are a significantly larger number alts on the market now since the last spike, the total amount of money invested in crypto is spread more thinly over all those different coins.  It all depends what direction the market decides to move in, who's pumping what and which coins have a general hype or buzz around them at the time.  Most alts may well climb if BTC starts skyrocketing again, but others might climb faster than LTC at this point since it seems to have lost most of its buzz. Scrypt ASICs have definitely taken away the impetus from LTC because being ASIC resistant was one of the main selling points.  

[bitebits]

In case you are a long time holder of LTC, like many others, you should have sold earlier if you were planning converting to BTC or fiat. It doesn't make sense doing it right now, unless you have great indicators it only to go lower.
To me, it still holds second place. If new people decide they think BTC is too 'expensive' during a rally, they will search for a 'cheaper' option: LTC

[bitcoinanon]

Most alts may well climb if BTC starts skyrocketing again, but others might climb faster than LTC at this point since it seems to have lost most of its buzz. Scrypt ASICs have definitely taken away the impetus from LTC because being ASIC resistant was one of the main selling points.  

True true, though bitcoin's last spike to 1200 might also have been affected by the rise of ASIC's. The inevitable difficulty increase followed and the total amount of bitcoin users increased as well. This might not have been the case so much for litecoin since many of the investors in Scrypt ASIC's, who might have also invested in SHA-256 ASIC's, may have done so simply to increase their bitcoin holdings. That being said I think Litecoin is still very relevant and has very large widespread user-base. It is only a matter of time and development before the price increases. A stable price is also nothing to scough at. Many good things with litecoin. I'm holding, everything i invested and everything i have mined. It may not be the best, shiniest coolest altcoin, but it is still faster than bitcoin.

[kelsey]

LTC is my reserve currency in crypto (only time I ever hold BTC is as a trading medium to another crypto). Zero intention of cashing out whether it be BTC or fiat.

However imo for any who are, kinda not the best timing now ie btc/ltc ration at one of its lowest, though any btc rally would make it even worse for ltc (if history is an indicator). imo likely to see better btc/ltc ratios longterm then present.

I see significantly more the "zilch" on the horizon.

[BittBurger]

I see significantly more the "zilch" on the horizon.

I determine the potential of a currency to have long term staying power and value increase .... entirely based on what businesses are considering accepting it as a payment option.  And subsequently which consumers will be getting paid in it, and ultimately spending it.  When I say Zilch, I mean I see Zilch on the horizon as these factors pertain to LTC.  Have you seen otherwise?  

There was a short period of time last year where everyone loved to say LTC is silver, BTC is gold.  That phrase, I am sure, drove most of the price value increase speculation for Litecoin. And it was 100% speculation.  There was no, and still is no infrastructure for Litecoin anywhere.  Maybe a business or two is accepting Litecoin (usually along with Dogecoin, much to my chagrin).  But LTC price has never been based on infrastructure or startups or VC funding.  Its been 100% speculation.

The Gold / Silver grouping phrase has now died out.  If it had maintained, I could see some forward-thinking businesses adding both coins, as a "package", to meet different purchasing needs of their customers. But I am seeing no plans of this on the horizon anywhere.  

Its all Bitcoin.  And that makes sense.  Because whether or not Bitcoin is the best option, its the first option, and basic knowledge of sociology / human behavior dictates that they will stick with something familiar, because it feels "safe".  The one with the most infrastructure, and most rich people invested in it, ensuring its continued success.  

The Network Effect is more powerful than a bunch of accurately-critical crypto enthusiasts who know the ins and outs of the functionality of many types of coins. None of that matters.  At all.  Except in this little microcosm.

Doesn't help that when I go to the Litecoin Reddit, nobody is posting.  A thread or two per week max.   Not a good sign.

-B-

[Este Nuno]

I see significantly more the "zilch" on the horizon.

I determine the potential of a currency to have long term staying power and value increase .... entirely based on what businesses are considering accepting it as a payment option.  And subsequently which consumers will be getting paid in it, and ultimately spending it.  When I say Zilch, I mean I see Zilch on the horizon as these factors pertain to LTC.  Have you seen otherwise? 

There was a short period of time last year where everyone loved to say LTC is silver, BTC is gold.  That phrase, I am sure, drove most of the price value increase speculation for Litecoin.  But that phrase has now died out.  If it had maintained, I could see some forward-thinking businesses adding both coins, as a "package", to meet different purchasing needs of their customers. But I am seeing no plans of this on the horizon anywhere. 

Its all Bitcoin.  And that makes sense.  Because whether or not Bitcoin is the best option, its the first option, and basic knowledge of sociology / human behavior dictates that they will stick with something familiar, because it feels "safe".  The one with the most infrastructure, and most rich people invested in it, ensuring its continued success. 

The Network Effect is more powerful than a bunch of accurately-critical crypto enthusiasts who know the ins and outs of the functionality of many types of coins. None of that matters.  At all.  Except in this little microcosm.

Doesn't help that when I go to the Litecoin Reddit, nobody is posting.  A thread or two per week max.   Not a good sign.

-B-

I think the Litecoin community decided to phase out that phrase on purpose.

Since you seem interested in currency that is meant to be long term and focused on transacting, I'd suggest following Bitmark(https://bitcointalk.org/index.php?topic=660544.0). It's a new project focused on adoption and daily use as opposed to following trends. Long term is the key here though, years, not months. So I'd recommend maybe bookmarking it and checking it every couple of weeks or so to see the progress. The development is very active as well. It's an honest and fair project and this is not meant as recommendation for you to buy any. But since you consider business and consumer adoption the primary goal I thought you might be interested in watching it develop.

[digitalindustry]

Posted this on Reddit and got basically no responses.  Still wondering:

I'm really not sure what to do. I have significant Litecoin holdings. I've been holding out for that next Bitcoin spike were LTC also goes up. I planned to cash out at that point. But it's just not happening. And seeing the decoupling of the two price trends, when they were so closely tied for so long, further concerns me.

Those of you holding relevant amounts of Litecoin: Are you going to convert to Bitcoin pretty soon here? Or is there still some indication out there that LTC will be the next welcome currency after Bitcoin?  To businesses.  etc.  If we base this on infrastructure and merchant adoption, we are looking at pretty much zilch on the horizon.

Will we get one more spike in price? Or should we convert to Bitcoin now...

-B-

so the recent adoption(s) for Bitcoin that showed a net price decline encouraged you?

save economic wipe-out your're about to be a 2x bag holder.

[Este Nuno]

Posted this on Reddit and got basically no responses.  Still wondering:

I'm really not sure what to do. I have significant Litecoin holdings. I've been holding out for that next Bitcoin spike were LTC also goes up. I planned to cash out at that point. But it's just not happening. And seeing the decoupling of the two price trends, when they were so closely tied for so long, further concerns me.

Those of you holding relevant amounts of Litecoin: Are you going to convert to Bitcoin pretty soon here? Or is there still some indication out there that LTC will be the next welcome currency after Bitcoin?  To businesses.  etc.  If we base this on infrastructure and merchant adoption, we are looking at pretty much zilch on the horizon.

Will we get one more spike in price? Or should we convert to Bitcoin now...

-B-

so the recent adoption(s) for Bitcoin that showed a net price decline encouraged you?

save economic wipe-out your about to be a 2x bag holder.

Bitcoin is heavily speculated on but in the long run those adoptions are what will be the foundation of the currency. People expect big news like that already, they've bought BTC thinking such things were bound to happen. Just because the price didn't go up doesn't mean that those adoptions weren't massive victories for Bitcoin.

[traderman]

Difficulty: 24425.1 as more and more asic scrypt miners are produced diff will continue to climb, once bitcoin enters the institutional space, litecoin will follow soon after! All those hedge funds and pension funds will eventually have to invest in crypto and after Bitcoin, Litecoin will be second best choice. Hold your litecoins!

[darkota]

Difficulty: 24425.1 as more and more asic scrypt miners are produced diff will continue to climb, once bitcoin enters the institutional space, litecoin will follow soon after! All those hedge funds and pension funds will eventually have to invest in crypto and after Bitcoin, Litecoin will be second best choice. Hold your litecoins!

Yea, litecoin, which offers nothing over Bitcoin besides a stupid name and silver logo, and having no unique features of it's own(also being in a downtrend for almost a year), is gonna be the second best choice? In a alternate universe maybe, but not this one.

[nutildah]

Difficulty: 24425.1 as more and more asic scrypt miners are produced diff will continue to climb, once bitcoin enters the institutional space, litecoin will follow soon after! All those hedge funds and pension funds will eventually have to invest in crypto and after Bitcoin, Litecoin will be second best choice. Hold your litecoins!

Yea, litecoin, which offers nothing over Bitcoin besides a stupid name and silver logo, and having no unique features of it's own(also being in a downtrend for almost a year), is gonna be the second best choice? In a alternate universe maybe, but not this one.

Actually you completely left out the reason why its called "LITE"-coin, on purpose I am guessing, seeing as how you are the guy who started the "Litecoin is Dead" thread...

[mr_random]

Litecoin will spike upwards again. The question is how far will it fall until it does so. Could be a little. Could be a lot.

[rikkejohn]

Litecoin isn't finished, and it did a similar trick last year, heading even lower down.

In saying that, I'm not sure it will remain relevant in the long-term.

But I am confident it will see 0.03 again in the next months.

Hold your litecoin, but remember it is a means to bitcoin.

[nutildah]

But I am confident it will see 0.03 again in the next months.

You must be investing your life savings then because that's more than a 200% gain... Just out of curiosity, how did you arrive at such confident certainty with your prediction?

[rokkyroad]

Litecoin is still a force to be reckoned with. Still holds second place behind btc.

The person that said litecoin has nothing over btc has not synced wallets lately or sent coins. Litecoin's wallet is quick to sync and transactions are fast compared to btc. You don't hear of many technical difficulties with litecoin or bugs. It works and it works well. 

I agree ltc needs more PR.

[devphp]

Litecoin is going to test its previous low (0.009 btc) in 2014, no doubt about it.

[favelle75]

But I am confident it will see 0.03 again in the next months.

You must be investing your life savings then because that's more than a 200% gain... Just out of curiosity, how did you arrive at such confident certainty with your prediction?

0.0124 to 0.03 is "more than a 200% gain"?

Whahh??

[Bitsaurus]

Difficulty: 24425.1 as more and more asic scrypt miners are produced diff will continue to climb, once bitcoin enters the institutional space, litecoin will follow soon after! All those hedge funds and pension funds will eventually have to invest in crypto and after Bitcoin, Litecoin will be second best choice. Hold your litecoins!

Yea, litecoin, which offers nothing over Bitcoin besides a stupid name and silver logo, and having no unique features of it's own(also being in a downtrend for almost a year), is gonna be the second best choice? In a alternate universe maybe, but not this one.

See the thing is, unlike your trollfest threads where every dissenting voice is silenced by a deleted post, here we get to mock you for your silliness out in open.  You forgot to add that Litecoin also shot down MH17 (in your universe).

[tutkarz]

I think there is room on the market for bitcoin as first currency that came out and has first mover advantage and one alt currency but it wont be litecoin anymore. There is too many better options, especially that so called bitcoin 2.0 coins that offers so much more. If they will deliver this, nobody will even look at btc 1.0 coins anymore. If you are willing to invest in ltc anyway it is very risky gambling imo.