Will Bitcoin end up just like Litecoin?

[itsAj]

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.

All alts have very little value and offer more or less nothing new in terms of features or security or privacy that bitcoin cannot already offer. We will likely see several speculative bubbles in many altcoins but they will all eventually fail.

[NamelessOne]

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

Butthurt? No I’m not butthurt for evaluating litecoin when it first appears and simply putting more money into bitcoin. I was one of those people in 2011, then 2012, and then 2013... and now here in 2014. It has zero innovation, that can't be argued. Litecoin made some people good money, in some cases huge money, maybe it will make more people even more money. Good for them, they saw that opportunity from the marketing. Even I thought it was great marketing and could lead to a ‘me too’ coat tails chase. But the lack of innovation, the carbon copying of bitcoin, killed any interest on my part. The fundamentals were never there and still aren’t.

I have a keen interest in the innovative alts, but I don't like seeing garbage succeed.

[dyland]

I really don't see bitcoin ending up like litecoin, and you have pre-determined an outcome that is not yet here--ie death of litecoin.

[mustang77]

Dumb comparasion because Bitcoin is the king and Litecoin is a poor mans Bitcoin.

[nuff]

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

Butthurt? No I’m not butthurt for evaluating litecoin when it first appears and simply putting more money into bitcoin. I was one of those people in 2011, then 2012, and then 2013... and now here in 2014. It has zero innovation, that can't be argued. Litecoin made some people good money, in some cases huge money, maybe it will make more people even more money. Good for them, they saw that opportunity from the marketing. Even I thought it was great marketing and could lead to a ‘me too’ coat tails chase. But the lack of innovation, the carbon copying of bitcoin, killed any interest on my part. The fundamentals were never there and still aren’t.

I have a keen interest in the innovative alts, but I don't like seeing garbage succeed.

Litecoin is, from a technical point of view, better than Bitcoin. Faster transaction confirmation for example. But how cryptocurrencies work is the one with the first mover advantage will always be most valuable, because that's just how cryptocurrencies work. When you mine any coin for that matter, it's always easier and more to mine early than it is late

[abercrombie]

Litecoin potentially has a short cover rally coming due to all the short interest.  

That's the only thing it has going for it.

Gramps used to say, don't try catching a falling knife.

[thegold]

hmmm, litecoinnn is just like a second coinnn of cryptocoinnn...
it's just a balancerrr.... in one side there is a man and the other side there is a womannnn...
so just like that....

hehehehe

[piramida]

it's just a balancerrr.... in one side there is a man and the other side there is a womannnn...

no, correct comparison would be - one side there is a man and the other side there's a piece of gum stuck to his shoe.

[bitcon]

actually ltc is performing better than btc at the moment.  if btc was keeping up with ltc it would be at $550 instead of $508. 

how do you work that one out? a few months ago 30 ltc would get you 1 btc

thats where you went wrong. youre talking a few months ago, im talking today. what would you rather have - 100,000 ltc and ltc goes to $6 or 1000 btc and btc goes to $520 if youre lucky?

[exocytosis]

It is the digital/crypto-currency and therefore will prevail.

Imagine living at the end of the 19th century:
"Horses are the mode of transportation, and therefore will prevail. Just ignore those fancy automobiles! They can't challenge horses as a means of transportation!"

[JimboToronto]

I thought the main function of Litecoin was to extend the mining feasibility of GPU miners after the advent on FPGAs and ASICs for SHA-256 hashing.

With the advent of Scrypt ASICs, that advantage has been lost. The torch has been passed to multi-crypto-algorithm coins.

[nuff]

It is the digital/crypto-currency and therefore will prevail.

Imagine living at the end of the 19th century:
"Horses are the mode of transportation, and therefore will prevail. Just ignore those fancy automobiles! They can't challenge horses as a means of transportation!"

Only if you are stupid

[catena5260]

Bitcoin has market acceptance that Litecoin has not.

So it just won't happen

[thew3apon]

People no longer accept litecoin, they accept darkcoin instead.

[Cluster2k]

Litecoin has become a pure commodity play.  A trading toy for daytraders to see how much profit they can extract from other other.  Its value is swinging so violently now that I can't see any merchant glancing in litecoin's direction and thinking 'hmm, I think I'll price goods in something that changes value by 20% almost daily'.

At least there are businesses that take bitcoin payments.  Litecoin only business are basically non existent.

[realbtcdealers4real]

No Can't do. Bitcoin is the to go crypto reference, it will never, never die. Universe will explode with BTC cool and alive.

[botany]

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 wouldn't go so far to call the developers irrelevant. We once had almost 92 Bn BTC. If developers are lax, such things can happen. 

That time someone hacked 92 billion BTC into existence

On 8th August 2010 bitcoin developer Jeff Garzik wrote what could be mildly described as the biggest understatement since Apollo 13 told Houston: “We’ve had a problem here.”

“The ‘value out’ in this block is quite strange,” he wrote on bitcointalk.org, referring to a block that had somehow contained 92 billion BTC, which is precisely 91,979,000,000 more bitcoin than is ever supposed to exist.

CVE-2010-5139 (CVE meaning ‘common vulnerability and exposures’) was frighteningly simple and exploited to the point of farce by an unknown attacker. In technical language, the bug is known as a number overflow error.

[Wekkel]

Because people always like charts. Moar chartzzz

[Justine]

People no longer accept litecoin, they accept darkcoin instead.

You have an example on who accept litecoin and then later replace it with darkcoin?

Not that the answer is important, but both coins are going to disappear not too distance into the future.

[kireinaha]

Bitcoin is too big to fail! I think I've heard that before somewhere.