Alts killing each other and the flood of alts will strengthen LTC's position

[kelsey]

Eventually everyones' bound to get sick of the constant stream of crapcoins and as I already am they'll start narrowing the field they invest in (both time and finances).

Some seem to assume attacking litecoin (the lead alt) will help their coin, with some crazy obsession that some token very wrongly labelled 2nd (just based around being different to btc whether it be a big backward step or not) generation, must have 2nd spot on this coinmarketcap chart  

Instead of wasting valuable time attacking others work, why not use that time productively; promote that alt your obsessing over in a positive light, find business that will adopted your crypto, give something to your crypto community even if thats just moral support (like an occasional well done to your hard working dev).

[1714817829]

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[othe]

True that but see it the other way around, theres tons of Litecoin users/investors bashing other coins without a reason too.

#litecoin on freenode is for sure not the friendliest place to talk in...

[chennan]

I think the reason behind it is that the dev's aim is not to develop cryptocurrency technology and contribute to the real world, just for their own interests. They are fighting each other and try to push their coin's price. Then they can pump and dump.

[kelsey]

Litecoin's position does NOT appear to be strengthening. In fact, it looks there's been a fundamental trend change in how litecoin rises and falls relative to bitcoin:

you're talking about price not value.

(quoted ur message too keep your point, deleted your chart as you've already posted that to another thread in this section).

[aa]

#litecoin on freenode is for sure not the friendliest place to talk in...

In what way is your statement based in reality? Ignoring that #litecoin only has people chatting when the price is having massive swings, the huge majority of the Litecoin community has always been very accepting of everyone, even the people who constantly troll and/or spam.

[Melbustus]

Litecoin's position does NOT appear to be strengthening. In fact, it looks there's been a fundamental trend change in how litecoin rises and falls relative to bitcoin:

you're talking about price not value.

(quoted ur message too keep your point, deleted your chart as you've already posted that to another thread in this section).

I'm talking about both price and value. And how about just a link to the chart since you don't want the chart itself in your thread: https://bitcointalk.org/index.php?topic=68655.msg8442609#msg8442609

[ProGamer]

I think the reason behind it is that the dev's aim is not to develop cryptocurrency technology and contribute to the real world, just for their own interests. They are fighting each other and try to push their coin's price. Then they can pump and dump.

Or they are fake fighting and are all secretly working together to cycle pump and dumps around to everyone's coin.

[kelsey]

One thing I used to find refreshing about this community.

irl I'm a fulltime daytrader, on real world market forums (and in person) people don't speak the truth, in fact its mostly the opposite, if someones promoting a stock as the next best thing its likely they are trying to sell, and if they say a stock is a dog they are most likely trying to acquire.

when I first started trading cryptos, people where actually honest, most promoting what they believed in rather then what made them a quick buck, kinda one of the main reasons I spent the time in trading chats etc and most traders (say in cryptsy chat) where basically friends and helpful to each other (certainly the odd bif or 10).

now its changed seems the loudest mouths are just here (and in the chats) to bullshit and pump just too make fiat with no thought to the advancement of crytpos and what potentially could be achieved with cryptocurrencies.  

[kelsey]

Litecoin's position does NOT appear to be strengthening. In fact, it looks there's been a fundamental trend change in how litecoin rises and falls relative to bitcoin:

you're talking about price not value.

(quoted ur message too keep your point, deleted your chart as you've already posted that to another thread in this section).

I'm talking about both price and value. And how about just a link to the chart since you don't want the chart itself in your thread: https://bitcointalk.org/index.php?topic=68655.msg8442609#msg8442609

I say pay attention to giving your crypto real value, real world useability and price will take care of itself. and personally I find litecoins real world useability, acceptance etc on the increase.

Charts hold very little meaning to me (and thats coming from a fulltime daytrader for over a decade).

[othe]

I see the problems not in LTC or whatever (more mature and not a pump and dump) coin community.

This forum has some real issues:
It´s seems here is no moderation at all in this subsection.
Also its even allowed to sell btctalk accounts.
And to register an account you don´t even need to verify your email nor is there any sort of antispam protection.

Basically the paradise for the group of people who are annoying.

[nutildah]

I like this theory and hope that it is true.

Not that I'm a big litecoin holder but if money starts refocusing on the relatively proven coins and the motivation isn't there to fuel the exponential growth of crapcoins any further, it will perhaps encourage new money to look for quality rather than the easy buck..

Its been really hard to consider more than a handful of coins as truly long-term investments thanks to the constant flood of new coins, always distracting people in pursuit of a quicker gain.

[fudbuster]

I feel the opposite. The flood of altcoins has oversaturated the market, diluted the investment pool and caused people to realize that Litecoin is really no better than all these other alts. I don't think Litecoin will fade away completely, but it will never regain its status as "Bitcoin's Silver".

[nutildah]

I don't think Litecoin will fade away completely, but it will never regain its status as "Bitcoin's Silver".

In terms of market cap it currently still gets the silver medal. By a long margin, too.

[doremi]

litecoin is just one of the thousands altcoin around ...nothing special.
i would like to use competiting instead of killing in this discussion,to be honest.i don`t think ltc has any advantage to take the lead of altcoins  competition here

[Lauda]

Well this is a possible scenario. You might even receive posts on this thread like 'I think coins X is great, it will be second to BTC'. One would say that here only because one is invested in that coin.
People are ignorant, well most members here are. 95-99% of the coins that have been released so far are useless, copycats and 'shitcoins'.
Why would a real investor go into something like that (if he has done proper research) when he could invest in an altcoin that is secure, fast enough and already established?

[NWO]

If anything, it is forcing innovation. People are starting to ignore blatant copies now.

[Leina]

Well this is a possible scenario. You might even receive posts on this thread like 'I think coins X is great, it will be second to BTC'. One would say that here only because one is invested in that coin.
People are ignorant, well most members here are. 95-99% of the coins that have been released so far are useless, copycats and 'shitcoins'.
Why would a real investor go into something like that (if he has done proper research) when he could invest in an altcoin that is secure, fast enough and already established?

The empirical evident suggest that 100% of the coins released are totally useless. I have yet to see any coin other than bitcoin is being accepted anywhere or serve any purpose.

[koryu]

people often forget, that you can actually use litecoin. it works ltc can be bought with fiat money, traded secure, and can be sold for fiat money. there is also no big loss in this circle, because ltc has enough volume even for huge transactions.

anyway it wont be easy for ltc to keep the #2 coin behind btc. all the altcoins poping up right now have some fancy feaures and gimmicks which may be useful in the next years or decades.
that's why ltc has to focus to be more simple than btc and more easy to use.

[othe]

people often forget, that you can actually use litecoin. it works ltc can be bought with fiat money, traded secure, and can be sold for fiat money. there is also no big loss in this circle, because ltc has enough volume even for huge transactions.

anyway it wont be easy for ltc to keep the #2 coin behind btc. all the altcoins poping up right now have some fancy feaures and gimmicks which may be useful in the next years or decades.
that's why ltc has to focus to be more simple than btc and more easy to use.

Please define "fancy features" and "gimmicks".

There are clear problems that Bitcoin has and there are projects who try to solve them, those are real issues:

1) Scaling (Which Cryptonite tries to address)
2) Privacy (Which XMR and DRK try to address; Stealthaddresses for example are easy to implement and have a real world value for every merchant, Bitcoin is conservative and limited op-return to 40 bytes and decided so far to leave it out of Bitcoin-QT but why doesn't Litecoin implement it at least? Why not at least improve the Bitcoin base?)
3) Centralisation
4) Userfriendlyness (Which XMR tries to address and prolly a lot of others)
5) Decentralised ways of trading smart contracts and co (Bitshares, NXT, Ethereum...)
6) PLACEHOLDER - there are prolly more.

So far Litecoin doesn´t even use the 0.9 branch of Bitcoin without any clear reason; why is that? It mitigates/limits important problems like the tx mallability issues (still not completly solved tho).

According to the Litecoin Devfund: https://docs.google.com/spreadsheet/pub?key=0AnlrnfU-U6E-dGlKcXJTYXhLV3hPczF4bjVpTTBRTWc&output=html

There´s a balance of roughly 1800 LTC still, why don´t they get used to hire someone that tries to work on certain issues mentioned above? Or at least someone who ports over the current Bitcoin codebase.

If you take a look at the Github: https://github.com/litecoin-project/litecoin/commits/master-0.8

compared to Bitcoin and other projects it seems pretty much dead, most commits are just merged Bitcoin PRs anyway: https://github.com/bitcoin/bitcoin/commits/master

People say Bitcoin is slow on development and conservative, but well, daily commits and a ton of work is getting in there every single day. I can´t see the same for Litecoin which says itself that its silver to Bitcoins gold.

Feel free to flame me - but that´s how i see it.

[kelsey]

litecoin is just one of the thousands altcoin around ...nothing special.
i would like to use competiting instead of killing in this discussion,to be honest.i don`t think ltc has any advantage to take the lead of altcoins  competition here

litecoin is something special and its the reason its number 2. itself has advantages over btc (known dev, faster, more secure) it survived at a time when every other coin from its era (and before) died out and it did so for a reason.

people scream this term innovation over and over yet since litecoin I've examined so many alts yet am yet to see a single innovation that served any purpose but to promote a coin for fiat gain purpose.

again people simply yell innovation just because its not a direct btc copy, that doesn't make it any better then the clones, in fact it most cases it makes it worse.