Why Litecoin can't reach Bitcoin price?

[darkota]

Network effect, infrastructure, merchant adoption, development (those apply to all coins versus Bitcoin)

That... and it's a copy and paste coin

sorry but form a real world perspective I don't see anything but something based on bitcoin, but with improvements (eg simplified, capable of mass adoption.)

How exactly is Litecoin more simplified than Bitcoin? It is pretty much the same thing with quicker block times and more money supply. The algorithm is different, but that doesn't have anything to do with it being simpler.

Also, I don't see how it is any more capable of mass adoption than Bitcoin is.


Not specifically directed at you, just ranting:

People complain about cryptos having extra features, but I think it is silly. I have a solution for those people: don't use them. It will attract some users that do want to use them though, and therefore it helps with adoption.

simplified was probably the wrong word to use, i more meant from using both for real world trans ltc is slightly smoother, still personally don't see it as smooth enough for mass adoption.

extra features point, none of those extra "features" are attracting anyone new from outside this very small niche community.

Hey, you wanna know why none of your points make sense? Bitpay.

First off, Litecoin's "slightly smoother" blocktime time of 2.5minutes is Put To Shame by hundreds of altcoins with 20 second and below blocktimes, like Fastcoin etc etc.

Second off, Bitpay requires 0 confirmations for Bitcoin, so you don't have to wait 10minutes like you used to, again, making Litecoin's only "feature" of having a 2.5minute blocktime, irrelevant.

In those respects, along with the fact that Litecoin is a bitcoin clone that offers absolutely nothing, makes Litecoin Useless. The only reason it's "still standing" is because past people have put in some infrastructure into it, but as you can see, it's been on a price decline since November, and has Not followed Bitcoin's in it's price increases etc, which means Litecoin is on its own, it's not the silver to anything, it's worthless.

[CoinHoarder]

extra features point, none of those extra "features" are attracting anyone new from outside this very small niche community.

I won't argue against your other statement, but I'd like to talk about this one.

I've heard a lot of Bitcoin/Litecoin people say that, but I'm not sure all of them realize it is just their opinion. It is not based off of any scientific evidence or research.. people just kind of throw this claim out there as if it's true and we are all supposed to believe it. Let me give you a few examples of why my opinion is different.

Asset issuance (many alt coins) - Can bring in businessmen looking to start companies that wouldn't otherwise be able to due to onerous government fees and application processes (SEC)

Crowdfunding (swarm coin, counterparty, etcetra) - Can bring in inventors, artists, game developers, etcetra, that don't want to pay the high fees that websites such as kickstarter and indiegogo charge.

Market pegged assets (bitsharesx) - Can bring in commodity traders looking for a cheaper alternative to existing markets; People that like the ideology of crypto currencies but don't like the (sometimes) massive price fluctuations and uncertainties

Decentralized DNSs (namecoin, etcetra) - Can bring in human rights supporters & internet freedom supporters

Decentralized gambling (lottoshares, etcetra) - Can bring in people that like to gamble but have been too worried to play on centralized websites that can tweak the odds even more in their favor than advertised & no worries about the website stealing your money

Decentralized market places (Nxt, etcetra) - Can bring in people that are tired of getting raped in fees by Ebay & Scampal, deep web market places, etcetra

Decentralized IDs (keyhotee, etcetra) - People that want to secure their financial and personal information, and be able to sign into website with a click of a button instead of entering a user name and password.

I could go on and on... and I'm not even mentioning all the different crowds the above features might bring in. They might not be coming in droves at the moment, but these technologies are new and not very well known right now. Once they are improved upon and more widely known, they very well could catch on due to the numerous advantages that decentralization and block chain technology bring.

[digitalindustry]

https://bitcointalk.org/index.php?topic=760871.0

why it can cross Bitcoin.

[romerun]

Why

Are you kidding ?

[BIT-Sharon]

It depends on its value and many factors can effect its value. Like many new coins, the person who put forward a new coin makes all efforts to certify its value, however, its value still is restricted by many factors. It is the floating market of cryptocurrencies. The price of Bitcoin has experienced a lot of floasting, however, as more and more countries accept it, it can not be ignored any more, so its value is commitment to its market popularity now. I don't think it is meaningful to compare Litecoin and Bitcoin.      

[3x2]

Clone can not compete with genuine innovation.

[kelsey]

I've heard a lot of Bitcoin/Litecoin people say that, but I'm not sure all of them realize it is just their opinion. It is not based off of any scientific evidence or research.. people just kind of throw this claim out there as if it's true and we are all supposed to believe it.

or simply such people have actually examined the bitcoin code and its pre development history to know pretty much all these supposed new innovations aren't so original  

[AmDD]

Network effect, infrastructure, merchant adoption, development (those apply to all coins versus Bitcoin)

That... and it's a copy and paste coin

sorry but form a real world perspective I don't see anything but something based on bitcoin, but with improvements (eg simplified, capable of mass adoption.)

How exactly is Litecoin more simplified than Bitcoin? It is pretty much the same thing with quicker block times and more money supply. The algorithm is different, but that doesn't have anything to do with it being simpler.

Also, I don't see how it is any more capable of mass adoption than Bitcoin is.


Not specifically directed at you, just ranting:

People complain about cryptos having extra features, but I think it is silly. I have a solution for those people: don't use them. It will attract some users that do want to use them though, and therefore it helps with adoption.

simplified was probably the wrong word to use, i more meant from using both for real world trans ltc is slightly smoother, still personally don't see it as smooth enough for mass adoption.

extra features point, none of those extra "features" are attracting anyone new from outside this very small niche community.

Hey, you wanna know why none of your points make sense? Bitpay.

First off, Litecoin's "slightly smoother" blocktime time of 2.5minutes is Put To Shame by hundreds of altcoins with 20 second and below blocktimes, like Fastcoin etc etc.

Second off, Bitpay requires 0 confirmations for Bitcoin, so you don't have to wait 10minutes like you used to, again, making Litecoin's only "feature" of having a 2.5minute blocktime, irrelevant.

In those respects, along with the fact that Litecoin is a bitcoin clone that offers absolutely nothing, makes Litecoin Useless. The only reason it's "still standing" is because past people have put in some infrastructure into it, but as you can see, it's been on a price decline since November, and has Not followed Bitcoin's in it's price increases etc, which means Litecoin is on its own, it's not the silver to anything, it's worthless.

Very true and I agree with this statement, however it can be used both ways. What happens when bitpay or some other 3rd party comes along and accepts litecoin? Then the 10 minute and 2.5 minute wait are equal and if that happens whats to stop litecoin from over taking Bitcoin? Essentially they do the same thing and by using a 3rd party many of the 'features' are put on the same level. This would be true of any coin, not just BTC vs LTC.

The protocol of these coins is just the beginning, things will really start to come alive when we get more 3rd parties involved. I think whatever coins are picked up there first will be the ones that really take off. So far its Bitcoin but Litecoin also has a payment processor, GoCoin.com so that puts it one step ahead of 400+ other alts - for now anyway.

[AmDD]

extra features point, none of those extra "features" are attracting anyone new from outside this very small niche community.

I won't argue against your other statement, but I'd like to talk about this one.

I've heard a lot of Bitcoin/Litecoin people say that, but I'm not sure all of them realize it is just their opinion. It is not based off of any scientific evidence or research.. people just kind of throw this claim out there as if it's true and we are all supposed to believe it. Let me give you a few examples of why my opinion is different.

Asset issuance (many alt coins) - Can bring in businessmen looking to start companies that wouldn't otherwise be able to due to onerous government fees and application processes (SEC)

Crowdfunding (swarm coin, counterparty, etcetra) - Can bring in inventors, artists, game developers, etcetra, that don't want to pay the high fees that websites such as kickstarter and indiegogo charge.

Market pegged assets (bitsharesx) - Can bring in commodity traders looking for a cheaper alternative to existing markets; People that like the ideology of crypto currencies but don't like the (sometimes) massive price fluctuations and uncertainties

Decentralized DNSs (namecoin, etcetra) - Can bring in human rights supporters & internet freedom supporters

Decentralized gambling (lottoshares, etcetra) - Can bring in people that like to gamble but have been too worried to play on centralized websites that can tweak the odds even more in their favor than advertised & no worries about the website stealing your money

Decentralized market places (Nxt, etcetra) - Can bring in people that are tired of getting raped in fees by Ebay & Scampal, deep web market places, etcetra

Decentralized IDs (keyhotee, etcetra) - People that want to secure their financial and personal information, and be able to sign into website with a click of a button instead of entering a user name and password.

I could go on and on... and I'm not even mentioning all the different crowds the above features might bring in. They might not be coming in droves at the moment, but these technologies are new and not very well known right now. Once they are improved upon and more widely known, they very well could catch on due to the numerous advantages that decentralization and block chain technology bring.

While this may be true I dont think its worth much. The original quote says these features do not bring anyone new in and only the people already in the community care and/or buyin to these coins and I tend to agree. Even someone like me who is an active member of the community did not know the details of some of those coins you listed above. If I dont know about them, how is the general public going to know and be able to pick the best for their needs? (Dont take that as 'I know everything about crypto' because I defiantly do not!) Point is there are too many options for a general person to pick from. Chevy, Dodge, Ford - Pepsi, Coke - Dell, HP, Gateway (are they even around anymore) - people like options but they are not going to read the specs of 400 coins to pick exactly whats best for them, they will pick one of the top 5 and deal with it even if there is a 'better' option available.

[Buffer Overflow]

Why

Because people aren't willing to pay the same for Litecoin as they are for Bitcoin. Bitcoin is king. Can't see that changing anytime soon, not unless something significantly better comes along.

[Amph]

ASICs,

(1 word game)

uh? there are asic for bitcoin too

litecoin is just a clone, not even the first one, that's why

[SwingBTC]

Because its a shitty clone that contributes nothing new.

[TinEye]

Why can't I sell garbage for the price of gold? Why

 

Some are still hoping for prices similar to Bitcoin. This one is useless and it is surprising it is even holding up. It will die a slow death.

[big brother]

If bitcoin goes to $10 000 or $100 000  , litecoin could easily reach $500 - $2500

If litecoin survives long enough it could reach that price range.

[cozk]

Confidence and desirability are low.

Thats it.

[GangkisKhan]

In this world, fast fish eat slow fish.

Litecoin is nothing but a similar clone to bitcoin. "Asic resistance" was the only reason for its existence a year ago, that is no longer true now.

[311]

One of the biggest reasons why it cant is just because of the demand and lack of merchant adoption. If it had a lot of merchants getting behind it it would do a lot better. At the moment its kinda redundant.

[giveBTCpls]

Because BTC is the reference coin and will remain like this for life. No other coin will take BTC's crown, this isnt a myspace->facebook situation sort of thing, forget about that, thats just having no clue about what we are dealing with on there.

[AdamSmith]

One of the biggest reasons why it cant is just because of the demand and lack of merchant adoption. If it had a lot of merchants getting behind it it would do a lot better. At the moment its kinda redundant.

There is no merchant adoption because LTC team didn't bother to reach out to merchant.

They can simply implement and create another bitpay or coinbase clone for LTC, that alone should increase merchant adoption.

[coinsolidation]

Before any technical or social considerations are taken in to account, you need to simply look at the currency supply.

If Litecoin were to have a price-tag of $500, then $14,400,000 of new currency would be produced each day, $5.25bn a year.

This would entail a daily trading volume of roughly $76million per day (or higher), and a market cap well above $10billion - immediately, and increasing every day after.

If the price-tag you mention were to happen then both adoption and market cap would have to be at least twice that of bitcoin, growing to 4x over ~20 years. To even begin such a process would require a 10,000% rise in both production-cost and price-tag.

It would also require roughly 75 Terrahash minimum to secure, over 75x more scrypt hashing power than currently exists in the world, that's if all of it was on litecoin only.

The coin supply has written in stone that Litecoin requires 400% more growth in every aspect (adoption, investment, hardware production, mining) day on day than bitcoin to maintain an equivalent price-tag, this has not been the case and thus it requires a 10000% leap to get on par, then 400% day on day thereafter.

That's a big ask of any currency. Perhaps infeasible.

AdamSmith (famous economist!) is on the right tracks, be fair, look at what you can do to increase or encourage adoption and usage, that is the only metric which improves anything.