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Author Topic: How come LTC keeps going down?  (Read 1087 times)
digitalindustry
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October 04, 2014, 02:51:34 AM
 #1

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

tiny rick !
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October 04, 2014, 02:53:56 AM
 #2

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

per btc-e it's going up ... almost to .012 o.O
digitalindustry
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October 04, 2014, 02:56:29 AM
 #3

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

per btc-e it's going up ... almost to .012 o.O

you a buyer at 4?

tiny rick !
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- Twitter @Kolin_Quark
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October 04, 2014, 04:02:47 AM
 #4

Not interested in fiat to crypto till the bloodbath is way worse than now
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October 04, 2014, 05:58:35 AM
 #5

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

Well, I know you are intelligent and know the answer, but i'll humor you Smiley.


There are multiple factors that is causing Litecoin prices to drop, but right now there are two main factors.

The first one is the "bot dance" that profiteers utilize in order to arbitrage between Litecoin and bitcoin. This happens mainly in China on the exchange that do not charge a fee to utilize, which makes it hard to collect information because places like coinmarketcap does not publish 0 fee exchanges from what I can tell (even for Bitcoin).

The second is the downward pressure that Litecoin is feeling from asics being deployed. The transition of a network from GPU to asic is a significant one, but also a costly one. Those who bought a bunch of asics most likely want profits/ROI ASAP, meaning they are selling daily in order to gain that. I also suspect these large businesses/entities/persons are mainly in China with the larger hash power doing this. Freejack2k2 on /r/Litecoin has posted about one more more entities causing this downward pressure.

I would imagine within the next few months when the dust settles, Litecoin should see more stability. Smiley

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October 04, 2014, 09:30:49 AM
 #6

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

Well, I know you are intelligent and know the answer, but i'll humor you Smiley.


There are multiple factors that is causing Litecoin prices to drop, but right now there are two main factors.

The first one is the "bot dance" that profiteers utilize in order to arbitrage between Litecoin and bitcoin. This happens mainly in China on the exchange that do not charge a fee to utilize, which makes it hard to collect information because places like coinmarketcap does not publish 0 fee exchanges from what I can tell (even for Bitcoin).

The second is the downward pressure that Litecoin is feeling from asics being deployed. The transition of a network from GPU to asic is a significant one, but also a costly one. Those who bought a bunch of asics most likely want profits/ROI ASAP, meaning they are selling daily in order to gain that. I also suspect these large businesses/entities/persons are mainly in China with the larger hash power doing this. Freejack2k2 on /r/Litecoin has posted about one more more entities causing this downward pressure.

I would imagine within the next few months when the dust settles, Litecoin should see more stability. Smiley

I think that's a pretty good answer.

tiny rick !
- https://voat.co/v/Contact/
- Twitter @Kolin_Quark
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October 04, 2014, 10:44:00 AM
 #7

Not as steep as Dogecoin
digitalindustry
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October 04, 2014, 12:33:41 PM
 #8

Not as steep as Dogecoin


Both your message in your avatar and your sig shows you understand.

However there are key variables that make a Crypto currency little different.

tiny rick !
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TheMage
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October 04, 2014, 04:13:01 PM
 #9

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

Well, I know you are intelligent and know the answer, but i'll humor you Smiley.


There are multiple factors that is causing Litecoin prices to drop, but right now there are two main factors.

The first one is the "bot dance" that profiteers utilize in order to arbitrage between Litecoin and bitcoin. This happens mainly in China on the exchange that do not charge a fee to utilize, which makes it hard to collect information because places like coinmarketcap does not publish 0 fee exchanges from what I can tell (even for Bitcoin).

The second is the downward pressure that Litecoin is feeling from asics being deployed. The transition of a network from GPU to asic is a significant one, but also a costly one. Those who bought a bunch of asics most likely want profits/ROI ASAP, meaning they are selling daily in order to gain that. I also suspect these large businesses/entities/persons are mainly in China with the larger hash power doing this. Freejack2k2 on /r/Litecoin has posted about one more more entities causing this downward pressure.

I would imagine within the next few months when the dust settles, Litecoin should see more stability. Smiley

I think that's a pretty good answer.

Thank you Smiley

Follow me on twitter https://twitter.com/TheRealMage for Litecoin and Litecoin Association news!
iampingu
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October 04, 2014, 04:21:23 PM
 #10

capital transfer from arbitrage opportunities ltc/btc/cny in the cross market are the plays whilst all eyes are on btc
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October 04, 2014, 06:21:40 PM
 #11

LTC has not much exciting features.
Now the altcoin has lots of competition unlike one year ago
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October 04, 2014, 07:23:06 PM
 #12

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

Tip: It's obvious that your post isn't about LTC.
Anyway, what about this?

iampingu
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October 04, 2014, 09:01:19 PM
 #13

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

Tip: It's obvious that your post isn't about LTC.
Anyway, what about this?



overlay a btc/usd chart on the top of that and it will look exactly the same
digitalindustry
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October 05, 2014, 03:46:24 AM
 #14

Quark of course is well bid and trending higher?

what do we think is the bottom for LTC ?

now that KnC has delivered.

Tip: It's obvious that your post isn't about LTC.
Anyway, what about this?






See the pink circle ( the first step ) LTC and BTC are not even there yet.

tiny rick !
- https://voat.co/v/Contact/
- Twitter @Kolin_Quark
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October 05, 2014, 04:16:18 AM
 #15

it's solely relying on it's massive market cap to stay afloat, it might run dry soon, it might not. that's just my theory at least
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October 05, 2014, 04:22:19 AM
 #16

BTC is crushing LTC.

Spoetnik
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October 05, 2014, 04:21:58 PM
 #17

KnC ? hmm
i don't keep tabs on that stuff but i see stories occasionally at Coindesk about Scrypt Asics..
i wonder is that a LOT of devices / hardware ?

and LTC dropping ?
duh.. it was because everyone wants to buy Monero as some irritating Shills around here suggested.

or maybe just because the price is tied to BTC always ?

FUD first & ask questions later™
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