Will Bitcoin end up just like Litecoin?

[drawingthesun]

Bitcoin IS the concept of cryptocurrency in itself, so if Bitcoin dies, so will all other altcoins and the whole idea of cryptocurrency.

This is only true if the reason Bitcoin dies being because of a reason that is applicable to all of the CryptoCoins. The main force here would be Government opposition.

However, it's not inconceivable to imagine a scenario where Bitcoin fails due to another coin winning over the market due to some feature that Bitcoin just does not have.

There is nothing that other coins can have that can't be implemented unto Bitcoin if the developers see it fit enough to do so.

I disagree, the Bitcoin core development team are careful, their product is responsible for billions of dollars in wealth. They are not going to implement features to compete with other coins in a timely manner.

To show an analogy, see Silicon valley and its startup culture. Quite often smaller, more nimble companies are able to fight and sometimes even ruin much larger, much better resourced companies.

Actually, come to think of it, developers aren't really relevant at all. What made Bitcoin the only one there is is because of its first mover advantage. That's just how deflationary products work, the earlier you are, the more valuable you become.

I urge caution here, Bitcoin is the first example of a real world deflationary product and it could/will face competition.

Remember that Bitcoin is two things, a store of wealth and a decentralised digital cash transfer network, if a much better system emerges that makes that storage safer, more private and also makes the transaction network more usable, you might find the first mover advantage is not enough.

Also the developers do matter, if the entire core team and Satoshi tomorrow said they are releasing Applecoin and dropping Bitcoin for various explained reasons, the market may react and follow.

[FNG]

Litecoin is rebounding hard off of it's lows. It's also extremely liquid in the Chinese markets. I wouldn't say it's dead just yet and it will probably triple as bitcoin rises 50% in the near term. From there, who knows. Big money is on bitcoin but I'll hedge / lever up taking the LTC wager at this value.

[fonzie]

LTC 100$ - soonish! When that 1 week Macd is about to turn greenish all hell will break loose.

[nuff]

Bitcoin IS the concept of cryptocurrency in itself, so if Bitcoin dies, so will all other altcoins and the whole idea of cryptocurrency.

This is only true if the reason Bitcoin dies being because of a reason that is applicable to all of the CryptoCoins. The main force here would be Government opposition.

However, it's not inconceivable to imagine a scenario where Bitcoin fails due to another coin winning over the market due to some feature that Bitcoin just does not have.

There is nothing that other coins can have that can't be implemented unto Bitcoin if the developers see it fit enough to do so.

I disagree, the Bitcoin core development team are careful, their product is responsible for billions of dollars in wealth. They are not going to implement features to compete with other coins in a timely manner.

To show an analogy, see Silicon valley and its startup culture. Quite often smaller, more nimble companies are able to fight and sometimes even ruin much larger, much better resourced companies.

Actually, come to think of it, developers aren't really relevant at all. What made Bitcoin the only one there is is because of its first mover advantage. That's just how deflationary products work, the earlier you are, the more valuable you become.

I urge caution here, Bitcoin is the first example of a real world deflationary product and it could/will face competition.

Remember that Bitcoin is two things, a store of wealth and a decentralised digital cash transfer network, if a much better system emerges that makes that storage safer, more private and also makes the transaction network more usable, you might find the first mover advantage is not enough.

Also the developers do matter, if the entire core team and Satoshi tomorrow said they are releasing Applecoin and dropping Bitcoin for various explained reasons, the market may react and follow.

In which case, should another altcoin have such better features as to render Bitcoin useless, people would still be able to convert their Bitcoins to the equivalent of the newer better altcoin because, as I understand, in the world of cryptos, the one with the first mover advantage has to be the one with the highest value very simply because cryptocurrencies are conceived to be deflationary in nature, to battle the inflationary nature of fiat money. The only way some other altcoin can overtake Bitcoin in value is that if that coin in inflationary meaning it has no limit as to its production (in which case, why bother with cryptocurrency anyway when there's already fiat) and every single person switched to that coin instead.

[nuff]

Litecoin is rebounding hard off of it's lows. It's also extremely liquid in the Chinese markets. I wouldn't say it's dead just yet and it will probably triple as bitcoin rises 50% in the near term. From there, who knows. Big money is on bitcoin but I'll hedge / lever up taking the LTC wager at this value.

Litecoin will have its place alongside all the other altcoins. It's just the matter of shifting your perceptions. Some people tweak their Ferraris. Some tweak their BMWs. Some tweak their Hyundais. You play with what you can afford and it's all good, really.

[Ayers]

Bitcoin IS the concept of cryptocurrency in itself, so if Bitcoin dies, so will all other altcoins and the whole idea of cryptocurrency.

This is only true if the reason Bitcoin dies being because of a reason that is applicable to all of the CryptoCoins. The main force here would be Government opposition.

However, it's not inconceivable to imagine a scenario where Bitcoin fails due to another coin winning over the market due to some feature that Bitcoin just does not have.

but if government oppose to bitcoin, then any coin can't stand a chance, they will follow the same fate

[InwardContour]

Litecoin isn't dead like someone said, I'm expecting a slow but steady recover in the next months.

[BANK RUN]

Litecoin will end up just like bitcoin.

1 Bitcoin will be worth 0.01 LTC

[Hobbes2]

Will bitcoin end up just like litecoin?


no, bitcoin has a big future. something like http://www.naturalnews.com/gallery/300x250/Money/Bitcoin-Value-Crash.jpg

oh wait, not, i upload another picture by mistake, sorry

[BTCmaster3]

Bitcoin will not end up like litecoin, why? Because bitcoin is the main thing about crypto. I see many merchant accept bitcoin but not litecoin.

[Ejaculation]

Cryptocurrencies aren't just a "fad", they can really do something. Bitcoin is only growing from my view...

[Wekkel]

LTC 100$ - soonish! When that 1 week Macd is about to turn greenish all hell will break loose.

First, we need more people declaring it dead. Buy when others are fearful. It seems we are on our way just fine.

[Ejaculation]

LTC 100$ - soonish! When that 1 week Macd is about to turn greenish all hell will break loose.

First, we need more people declaring it dead. Buy when others are fearful. It seems we are on our way just fine.

I wouldn't be surprised if LTC shot up to $30 or so actually. It just needs a little more interest, then boom.

Silver didn't crash after 3 years, did it?

[bajlox]

BTC wont end up just like LTC wont end up.

In time u will see wasn't the something similar last year and then boom

[smoothie]

The two aren't comparable. Bitcoin has earned its success through innovation, fundamentals, infrastructure all that. Litecoin has none of that and was just the 'me too, me too' coin riding Bitcoins coattails.  Litecoin always was a ripoff shitcoin that had zero innovation. It got the attention it did because of good marketing 'silver to bitcoins gold' and timing in particular with the last bubble. I personally hope it dies the death it deserves as people flock to truly innovative altcoin whatever that might be.

Wow you sound pretty butthurt. People like you were spewing the same BS back in 2011 when LTC launched, then 2012, and then 2013...

Now we are in 2014...no difference. lol

[TheJohn]

LTC 100$ - soonish! When that 1 week Macd is about to turn greenish all hell will break loose.

First, we need more people declaring it dead. Buy when others are fearful. It seems we are on our way just fine.

I wouldn't be surprised if LTC shot up to $30 or so actually. It just needs a little more interest, then boom.

Silver didn't crash after 3 years, did it?

Darkcoin, the next one that would probably shoot up to $30.

[NapoleonBonaparte]

LTC 100$ - soonish! When that 1 week Macd is about to turn greenish all hell will break loose.

First, we need more people declaring it dead. Buy when others are fearful. It seems we are on our way just fine.

I wouldn't be surprised if LTC shot up to $30 or so actually. It just needs a little more interest, then boom.

Silver didn't crash after 3 years, did it?

Darkcoin, the next one that would probably shoot up to $30.

Darkcoin just dropped close to 10% again today. The coin is a goner.

[fonzie]

LTC 100$ - soonish! When that 1 week Macd is about to turn greenish all hell will break loose.

First, we need more people declaring it dead. Buy when others are fearful. It seems we are on our way just fine.

Conclusion: hold on LTC by dear god and sell at $49 after 2 years.

Found this post of yours from March 2013, you were almost spot on with the price, it just happened a year earlier than expected, not bad. So where do you eyxpect the next top 100-200$?  

[TheJohn]

Litecoin is a goner too, all the manufacturer mining it and dumping it on market.

[bitebits]

Litecoin is a goner too, all the manufacturer mining it and dumping it on market.

Agree. But your conclusion should be opposite. Fixed it.