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Author Topic: Litecoin price?  (Read 4669 times)
qqq123
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April 28, 2012, 03:55:42 PM
 #1

Litecoin was up around 1LTC/0.001BTC a week or so ago, now it's 1LTC/0.000758BTC and still falling.  Why?  I'm beginning to wonder if it would be more profitable to use my CPU for BTC/NMC merged mining.
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April 28, 2012, 05:09:33 PM
 #2

Litecoin was up around 1LTC/0.001BTC a week or so ago, now it's 1LTC/0.000758BTC and still falling.  Why?

Simple lack of interest in alternate cryptocurrencies.  The average geek (if not the average Joe) has at least heard of Bitcoin at this point; Pretty much no one outside the Bitcoin-enthusiast community has heard of LTC or any of the other alternatives.


I'm beginning to wonder if it would be more profitable to use my CPU for BTC/NMC merged mining.

On a typical modern quad-core CPU, you can expect somewhere around 15-20MH/s mining BTC.  This will produce roughly 0.4BTC/month, or $2.00 at the current exchange rate (plus a tenth of a percent or so for merged NMC mining).

On the same CPU, you can expect to get 20-30KH/s mining LTC.  This will yield roughly 675LTC/month, or $2.50.

So you will still do better to mine LTC than BTC on a CPU.  That said... Neither actually has a net positive yield unless you get free electricity

...And if you somehow have free electricity, you should rush to buy as many 5830s (currently the cheapest in hardware overhead for the hash rate, ignoring power efficiency) as you can lay your hands on, which will give a payback of 3 months assuming the exchange rate holds near $5/BTC.

I don't beg - If I do something to deserve your BTC, you can find my address on the invoice.  Wink
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April 28, 2012, 05:33:37 PM
 #3

Plus difficulty is dropping so it will compensate for the price dropping.
Lord F(r)og
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April 28, 2012, 05:43:30 PM
 #4

Litecoin was up around 1LTC/0.001BTC a week or so ago, now it's 1LTC/0.000758BTC and still falling.  Why?

litecoin became gpuminable to the masses, of cause after some guys made sure they got their profit before they "leaked" the gpuminer to the community.

get a feeling of ltc price development there: http://marketscry.info/?s=ltcbtc&t=0
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April 28, 2012, 07:32:21 PM
 #5

Litecoin was up around 1LTC/0.001BTC a week or so ago, now it's 1LTC/0.000758BTC and still falling.  Why?  I'm beginning to wonder if it would be more profitable to use my CPU for BTC/NMC merged mining.

One of two things is happening:

1) LiteCoin is dying and you should sell everything now.
2) LiteCoin is at a bargain price and you should buy in big-time.


The way I see it LiteCoin is currently the only viable altcoin. IOCoin/IXCoin are memories, SolidCoin/MicroCash is a joke, RusCoin has no interest, NameCoin was never intended as a currency.
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April 28, 2012, 10:06:51 PM
 #6

I think LiteCoin price will go up.

The positive about it being so cheap is that you can use it in games and if you lose it gambling or something, you don't lose too terribly much.

I think it would be pretty hard for it to suddenly die.

Let's make some Dogecoins together! http://doge.litemoons.com:9555
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April 28, 2012, 10:20:26 PM
 #7

I think whats needed is more everyday services and products to expand the usage of LTC.
and some good and constant marketing to expose the coin to more people interested in alternative currencies.

 

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April 29, 2012, 01:14:55 AM
 #8

Volume is good compared to any other alt chain, that's all that really matters.

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brunozisterer
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April 29, 2012, 06:44:40 PM
 #9

Wait until a Litecoin-Miner register at GLBSE !

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April 29, 2012, 07:36:38 PM
 #10

whats needed is a SR for litecoin

it should be called the Rayon Road
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April 30, 2012, 05:47:42 PM
 #11

Litecoin was up around 1LTC/0.001BTC a week or so ago, now it's 1LTC/0.000758BTC and still falling.  Why?  I'm beginning to wonder if it would be more profitable to use my CPU for BTC/NMC merged mining.

One of two things is happening:

1) LiteCoin is dying and you should sell everything now.
2) LiteCoin is at a bargain price and you should buy in big-time.


The way I see it LiteCoin is currently the only viable altcoin. IOCoin/IXCoin are memories, SolidCoin/MicroCash is a joke, RusCoin has no interest, NameCoin was never intended as a currency.


Agreed...I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
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April 30, 2012, 05:52:58 PM
 #12

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?

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April 30, 2012, 06:46:07 PM
 #13

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?


A difficulty of between 10-50 thousands dollars or so.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
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May 01, 2012, 05:08:52 PM
 #14

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?


A difficulty of between 10-50 thousands dollars or so.

FUND IT!
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May 01, 2012, 08:30:00 PM
 #15

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?


A difficulty of between 10-50 thousands dollars or so.

FUND IT!

Being that you are speaking on it in that matter YOU should fund it!


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May 01, 2012, 08:39:20 PM
 #16

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?


A difficulty of between 10-50 thousands dollars or so.

FUND IT!

I agree more ways to buy litecoin for cash are needed as BTC-e are can't easily load cash on to if Intersangoi or MtGox were to implement it great.  The thing I think LTC also needs as much as that is a good website or at least video explaining litecoin to new users.  As if litecoin is to grow it needs to attract users who have never heard of bitcoin.  Maybe if this website acted as a facuet, online wallet, exchange prices history and block explorer that would be great.

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May 02, 2012, 01:26:52 AM
 #17

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?


A difficulty of between 10-50 thousands dollars or so.

FUND IT!

I agree more ways to buy litecoin for cash are needed as BTC-e are can't easily load cash on to if Intersangoi or MtGox were to implement it great.  The thing I think LTC also needs as much as that is a good website or at least video explaining litecoin to new users.  As if litecoin is to grow it needs to attract users who have never heard of bitcoin.  Maybe if this website acted as a facuet, online wallet, exchange prices history and block explorer that would be great.

I've been using Vircurex.  It's a pretty great exchange for many many coins.

https://vircurex.com/register?referral_id=801-154

Coinbase for selling BTCs or Vircurex for trading alt cryptocurrencies like DOGEs
CoinNinja for exploring the blockchain.
PM me with any questions on these sites!  Happy to help!
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May 02, 2012, 05:07:29 PM
 #18

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?


A difficulty of between 10-50 thousands dollars or so.

FUND IT!

Being that you are speaking on it in that matter YOU should fund it!

I'll be sure to lose a bunch of money recklessly trading if MtGox did open up LTC.  It makes you wonder if anyone is ever going to have enough faith in Bitcoin to have enough faith leftover for an alt-currency.
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July 20, 2012, 10:50:04 AM
 #19

Quote from: cryptoanarchist
I would add that what will make or break Litecoin will be how many new exchanges start supporting trade with them. I think if there were more places to exchange them, there would be more merchants taking them.
+1

How difficult would it be for the likes of MtGox or Intersango to add LTC support?


A difficulty of between 10-50 thousands dollars or so.

FUND IT!

Being that you are speaking on it in that matter YOU should fund it!

I'll be sure to lose a bunch of money recklessly trading if MtGox did open up LTC.  It makes you wonder if anyone is ever going to have enough faith in Bitcoin to have enough faith leftover for an alt-currency.

A friend of mine recently bought 2000+litecoins to sit on them. He does not mine at all, so there is some faith. 

smoothie
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July 20, 2012, 05:42:14 PM
 #20

Litecoin was up around 1LTC/0.001BTC a week or so ago, now it's 1LTC/0.000758BTC and still falling.  Why?  I'm beginning to wonder if it would be more profitable to use my CPU for BTC/NMC merged mining.

If you bought a fuckton when those prices existed you would have multiplied your investment by 6-8 times.

Sometimes we need to change our thinking about whether it is unprofitable now to mean it could very well be very lucrative in 6 months to a few years from now?


Just saying.....

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