Litecoin TANKING...opinions on future outlook both nearterm and long term?

[digitalindustry]

who's calling a bottom under $1 -

and if so are you buying there , and if you are.... why?

[fonzie]

who's calling a bottom under $1 -

and if so are you buying there , and if you are.... why?

I might buy some @ 0,20$ to sell em @ the dead cat bounce to 0,50$

[digitalindustry]

cya later $5

[giveBTCpls]

who's calling a bottom under $1 -

and if so are you buying there , and if you are.... why?

Well, because the same good ol reason, it may go up lol. Of course Im not sure if I want to catch a totally dying knife. Honestly Litecoin has lost most of it's initial appeal. If cobble wasn't behind this coin it would have been game over ages ago.

[flipstyle]

Damn.  When I created this thread just a little over a day ago, I did NOT expect that we'd already be piercing the 5 dollar mark into 4 dollar territory.  This is a huge slide.  I'll probably be holding off on my initial plans of buying in the 4 dollar range and watch carefully.  Something just doesn't feel right here.

[forzendiablo]

i feel we will have 3USD soonish

[fran2k]

For me LTC seems still high overpriced. Sometime it was THE altcoin. Now its just another one.

The market cap is still very high. If you put in the cap #5 at the same level of DRK i.e. the price will get to 1usd or below, where it should be.

[digitalindustry]

For me LTC seems still high overpriced. Sometime it was THE altcoin. Now its just another one.

The market cap is still very high. If you put in the cap #5 at the same level of DRK i.e. the price will get to 1usd or below, where it should be.

little Litecoin is just going through its birth process none of the others on the Cap (top 20) (apart from Quark) flow with any free market force. (perhaps Zeta)

if ASICs proliferate Litecoin has a chance - if not its going to slip into obscurity.

sorry i'll add FTC and Prime to that list - they "pretty much" flow with the free market more or less.

 

[Hfleer]

For me LTC seems still high overpriced. Sometime it was THE altcoin. Now its just another one.

The market cap is still very high. If you put in the cap #5 at the same level of DRK i.e. the price will get to 1usd or below, where it should be.

little Litecoin is just going through its birth process none of the others on the Cap (top 20) (apart from Quark) flow with any free market force. (perhaps Zeta)

if ASICs proliferate Litecoin has a chance - if not its going to slip into obscurity.

sorry i'll add FTC and Prime to that list - they "pretty much" flow with the free market more or less.

 

yada yada quark is the best yada yada.

[cAPSLOCK]

For me LTC seems still high overpriced. Sometime it was THE altcoin. Now its just another one.

The market cap is still very high. If you put in the cap #5 at the same level of DRK i.e. the price will get to 1usd or below, where it should be.

little Litecoin is just going through its birth process none of the others on the Cap (top 20) (apart from Quark) flow with any free market force. (perhaps Zeta)

if ASICs proliferate Litecoin has a chance - if not its going to slip into obscurity.

sorry i'll add FTC and Prime to that list - they "pretty much" flow with the free market more or less.

 

Litecoins volume in USD today is nearly $7,000,000 ranking 2nd behind BTC

Many coins are in the top 15 for volume of trade.  For example Ripple, Darkcoin, Doge and Monero all trading 5 or 6 figure volumes (USD) so far today.

So far today Quarks volume is $1920.  LOL.

If by "fluid with the market" you are talking about liquidity...  well Quark is losing badly and is in 56th place as an alt.

[Hfleer]

For me LTC seems still high overpriced. Sometime it was THE altcoin. Now its just another one.

The market cap is still very high. If you put in the cap #5 at the same level of DRK i.e. the price will get to 1usd or below, where it should be.

little Litecoin is just going through its birth process none of the others on the Cap (top 20) (apart from Quark) flow with any free market force. (perhaps Zeta)

if ASICs proliferate Litecoin has a chance - if not its going to slip into obscurity.

sorry i'll add FTC and Prime to that list - they "pretty much" flow with the free market more or less.

 

Litecoins volume in USD today is nearly $7,000,000 ranking 2nd behind BTC

Many coins are in the top 15 for volume of trade.  For example Ripple, Darkcoin, Doge and Monero all trading 5 or 6 figure volumes (USD) so far today.

So far today Quarks volume is $1920.  LOL.

If by "fluid with the market" you are talking about liquidity...  well Quark is losing badly and is in 56th place as an alt.

have you read any of his "threads"? He is a huge troll and the best action would prolly be to put him on ignore.

[meganite]

For me LTC seems still high overpriced. Sometime it was THE altcoin. Now its just another one.

The market cap is still very high. If you put in the cap #5 at the same level of DRK i.e. the price will get to 1usd or below, where it should be.

little Litecoin is just going through its birth process none of the others on the Cap (top 20) (apart from Quark) flow with any free market force. (perhaps Zeta)

if ASICs proliferate Litecoin has a chance - if not its going to slip into obscurity.

sorry i'll add FTC and Prime to that list - they "pretty much" flow with the free market more or less.

 

Litecoins volume in USD today is nearly $7,000,000 ranking 2nd behind BTC

Many coins are in the top 15 for volume of trade.  For example Ripple, Darkcoin, Doge and Monero all trading 5 or 6 figure volumes (USD) so far today.

So far today Quarks volume is $1920.  LOL.

If by "fluid with the market" you are talking about liquidity...  well Quark is losing badly and is in 56th place as an alt.

have you read any of his "threads"? He is a huge troll and the best action would prolly be to put him on ignore.

Exactly this. Plus, you can vote for him here:
https://bitcointalk.org/index.php?topic=729053.0

[TaunSew]

He might be a troll but I agreed with his observation.  Since LTC is no longer ASIC resistant, it has nothing to offer to any prospective new buyers.

 The day traders are keeping LTC alive but LTC, for all intensive purposes, was abandoned when Charlie Lee agreed to go to work for coinbase (which has yet to add LTC themselves).

[smoothie]

He might be a troll but I agreed with his observation.  Since LTC is no longer ASIC resistant, it has nothing to offer to any prospective new buyers.

 The day traders are keeping LTC alive but LTC, for all intensive purposes, was abandoned when Charlie Lee agreed to go to work for coinbase (which has yet to add LTC themselves).

LOL perhaps you should get your information about his intentions from Charlie himself before making assertions as such.

[rikkejohn]

He might be a troll but I agreed with his observation.  Since LTC is no longer ASIC resistant, it has nothing to offer to any prospective new buyers.

 The day traders are keeping LTC alive but LTC, for all intensive purposes, was abandoned when Charlie Lee agreed to go to work for coinbase (which has yet to add LTC themselves).

Wrong. Asics will push the difficulty sky high, meaning more investment required to mine. Asics are no more likely to destroy LTC than they were BTC.

Scrypt Asics will be bought by LTC miners to purposely mine LTC. Unless you are a committed LTC miner, you will not have the hardware to keep up with them.

[Melbustus]

Wow, I haven't really kept up with the BTC/LTC market in awhile, but checking the charts today pretty much shocked me.  Last I remembered it was surging up towards the 12 dollar market and all signs were pointing to bullish.  The 365 day chart does not look good...at all.

Is there some particular news that is triggering this massive downward slope?  And are any of you guys getting in now, or do you feel we might see another return close to 4 dollars like we saw late last year? I'm soooo tempted...but man, I've already been burned so many times in this altcoin game.

No news. It's the natural progression of a coin that brings nothing interesting to the table. I'll repost my thoughts on alts in general below since it absolutely applies to litecoin and your question about long-term value (disclaimer: I have no opinion on the short-term, since I find it near impossible to quantify the irrationality of people):

... It should be somewhat clear that 99% of existing alts will lose 99% of their value over the next few years. Most alt "innovations" either aren't innovations (like tweaking blocktime or supply), don't work, don't scale, or don't matter. Furthermore, ninja-mining, pre-mining, ugly emission curves, 51%s, NaS attacks, etc, can all kill coins even if there *were* actual innovation. And further still, it's probably the case that if any meaningful, viable innovation ever gets done in the alt-space, bitcoin could eventually incorporate it, making the separate chain irrelevant.

You have to understand that bitcoin's innovation was 30yrs in the making. Solving distributed global consensus was a breakthrough in computer science. There has not been a single innovation in the alt space that even sorta compares to that. Not one. Which is why bitcoin is highly likely to remain dominant.

Furthermore, it's been well understood for the past 20-30yrs that if you could solve distributed global consensus, you could do digital cash, and it would be a big deal. It's just that no one had figured out how to solve double-spending (global consensus) prior to Satoshi. There is no similar known problem being attacked in the alt-space for which a solution would be a breakthrough of similar magnitude. So an alt would have to luckbox into some completely unforeseen yet incredible innovation.

So bitcoin likely remains the primary crypto-coin. That said, there *are* potential niches to be filled by alt-coins. The only one I can clearly identify is anonymity. It's clear that bitcoin does not offer meaningful anonymity unless the user is technically skilled enough and motivated enough to obfuscate their transaction chains sufficiently. Furthermore, bitcoin is becoming a global asset class, fit for corporate balance sheets and HNW portfolios. It's also obviously seeing high-profile merchant adoption, and tacit acceptance/approval by various governments and regulatory bodies. If bitcoin offered technically pure anonymity that required zero user effort, governments would probably be a lot more directly hostile towards it. Thus, it seems unlikely that the bitcoin community would embrace full-anon tech in bitcoin core; lest governments react harshly and reduce existing ecosystem investment value dramatically.

So that leaves the anonymity niche open to an alt. As I've previously noted, ever since Zerocoin was published, I thought that when it came out as a functional implementation, it'd be the first actually interesting alt-coin. Well, it looks like these CryptoNote coins have beaten it to the punch of functional anonymity. Which CN coin will win is a different matter. XMR seems out in front, but the waters are muddy still.

I don't see any other obvious niches for alts. Turing completeness is interesting in theory, but I wouldn't trust the security of such a chain for a quite a while, and much of the benefits may be possible in bitcoin anyway. Other than that.... ?

Now that's not to say you couldn't make a killing if you play the alt market perfectly, and jump from coin to coin as they fall in and out of favor. But good luck not losing your shirt.



tl;dr: Alts suck, with very few even theoretical exceptions.

[Bitcoins101]

For me LTC seems still high overpriced. Sometime it was THE altcoin. Now its just another one.

The market cap is still very high. If you put in the cap #5 at the same level of DRK i.e. the price will get to 1usd or below, where it should be.

It's also not even really a top altcoin anymore.

Bitcoin is powerful because it was the first and every coin thereafter is essentially a copycat. Litecoin used to be powerful because it was better than Bitcoin. However, now there are coins way better than Litecoin, so what really is Litecoin anyway? Likely just a speck in the cryptocurrency timeline that will soon vanish completely.

[rikkejohn]

here we go



November last year, and this is on the cards again ...

The bottom was about 0.0075

[BitCoinNutJob]

here we go



November last year, and this is on the cards again ...

The bottom was about 0.0075

Way oversold Territory right now, we might see that bottom i agree, expecting a strong rally in under 48 hours.

[zolace]

here we go



November last year, and this is on the cards again ...

The bottom was about 0.0075

Way oversold Territory right now, we might see that bottom i agree, expecting a strong rally in under 48 hours.

I see that price has been decreasing with bitcoin, every time  bitcoin rises so does LTC,   I been following this for the past 24 hours, so all wee need is bitcoin to go back up and so will litecoin, or am I wrong cause thats what I had been analyzing