The Litecoin Thread

traveller0101

Who here is holding some Litecoin?


What are your expectations, hopes and fears for the future?

machiavellianme

I'm expecting it to oscillate between 49 and 43 for the foreseeable future, like it has done for the last few weeks.
I'm hoping it goes back to its ATH value and on to the moon.
I fear it going back to 25.

pro_gnostic_8

This is the Litecoin chart for the past 30 days (against BTC).
Depressing !
Tbh, I can't see Litecoin going anywhere anytime soon.

ToxicPaddy

pro_gnostic_8 wrote: »

This is the Litecoin chart for the past 30 days (against BTC).
Depressing !
Tbh, I can't see Litecoin going anywhere anytime soon.

That's still nearly $60 a coin. A big risk at that price. I'd sit and wait, if it drops closer to $30-40 a coin it might be worth a risk. You would need to throw a decent few grand at that to make it worth your while.

JaCrispy

Chinese market volume in LTC grew 50% in the last days. Yesterday was the first time since the China ban that the Chinese OKCoin traded LTC at USD 1 higher than the world average. At the beginning of the China fud it was USD 6 below, the weeks after it was USD 5 below, during the last days it was USD 2 below. Quite interesting development. Their market volume dropped from 50% before the China ban to almost 6%. During the last days it has risen to now 15% again. I think they're already starting to come back.

traveller0101

With all the movement in BTC and BTH, LTC hasn't got much of a pop

The One Doctor

I've just moved my BTC to LTC. LTC has much more predictable movements than BTC, which means it's better for taking advantage of small movements (€2.50 to €5) to make a small profit. I hated having to watch BTC swoop up and dive down. LTC is much more pleasant.

It's also got all the technical things BTC doesn't, like SegWit2x and a few others. It's a good contender for the long term.

Yes, I'm essentially trading, buying a few and selling them off a few hours/days later, but it's not heart attack island like Bitcoin.

traveller0101

The One Doctor wrote: »

I've just moved my BTC to LTC. LTC has much more predictable movements than BTC, which means it's better for taking advantage of small movements (€2.50 to €5) to make a small profit. I hated having to watch BTC swoop up and dive down. LTC is much more pleasant.

It's also got all the technical things BTC doesn't, like SegWit2x and a few others. It's a good contender for the long term.

Yes, I'm essentially trading, buying a few and selling them off a few hours/days later, but it's not heart attack island like Bitcoin.

What exchange/website are you using?

The One Doctor

traveller0101 wrote: »

What exchange/website are you using?

GDAX, was using Kraken but it's very unreliable at busy times.

ZeroThreat

I still have my BTC, am I mad?

(The current price is still 2,000 higher per bitcoin than what I paid)

traveller0101

ZeroThreat wrote: »

I still have my BTC, am I mad?

Nope. I'm buying more right now . I am protected in that I had my BTC before the fork so I have an equivalent amount of BTH...


Just topped up my LTC as well.

ZeroThreat

The One Doctor wrote: »

I've just moved my BTC to LTC. LTC has much more predictable movements than BTC, which means it's better for taking advantage of small movements (€2.50 to €5) to make a small profit. I hated having to watch BTC swoop up and dive down. LTC is much more pleasant.

It's also got all the technical things BTC doesn't, like SegWit2x and a few others. It's a good contender for the long term.

Yes, I'm essentially trading, buying a few and selling them off a few hours/days later, but it's not heart attack island like Bitcoin.

Is Vertcoin almost identical to Litecoin except that it's able to be mined on standard GPU equipped PCs?

ZeroThreat

traveller0101 wrote: »

Nope. I'm buying more right now . I am protected in that I had my BTC before the fork so I have an equivalent amount of BTH...


Just topped up my LTC as well.

lucky, I was a little too late to the crypto party to get my BCH :mad:

Have 100 LTC so not planning on getting any more at this point.

The One Doctor

ZeroThreat wrote: »

I still have my BTC, am I mad?

(The current price is still 2,000 higher per bitcoin than what I paid)

I only switched to LTC because I was getting close (within €100) to what I paid for the BTC and didn't want to lose my investment. I have roughly the same amount of LTC as you.

Regarding VTC vs LTC, I've no idea how VTC works. There's an infographic here.

traveller0101

For those who are dumping their btc into ltc, are you paying CGT on the btc profits?

ZeroThreat

traveller0101 wrote: »

For those who are dumping their btc into ltc, are you paying CGT on the btc profits?

Good question.

As digital currencies assume a higher profile in the media and business, sooner or later revenue are going to start requesting details of Irish residents registered with the major crytpo sites and exchanges for further investigation.

So it would be advisable to get working on the 36 page form 11 pronto, as CGT disposals up to the 30 Nov have to made by 31 Dec, and allowing for the X-mas period, ideally they need to be sent in before the start of the holidays.

The One Doctor

traveller0101 wrote: »

For those who are dumping their btc into ltc, are you paying CGT on the btc profits?

Everyone will make their own arrangements as appropriate.

ZeroThreat

The One Doctor wrote: »

Everyone will make their own arrangements as appropriate.

not sure if you got my reply, I can't see a list of out going pms on my profile anywhere.

A Battered Mars Bar

Ah sure begorrah isn't litecoin the sliver to bitcoins gold :rolleyes: :rolleyes:

Pointless coin. DUMP.

The One Doctor

A Battered Mars Bar wrote: »

Ah sure begorrah isn't litecoin the sliver to bitcoins gold :rolleyes: :rolleyes:

Pointless coin. DUMP.

I made a reasonable amount trading it yesterday. It's well regarded.

ZeroThreat

A Battered Mars Bar wrote: »

Ah sure begorrah isn't litecoin the sliver to bitcoins gold :rolleyes: :rolleyes:

Pointless coin. DUMP.

Which coins do you hold?

A Battered Mars Bar

ZeroThreat wrote: »

Which coins do you hold?

What does it matter? I'll keep buying coins i want, to say what is to pump my coins, ive no interest in that, i'll buy as much as i can rather than pumping and pricing myself out the market.

But i sincerely have no interest in ltc, and this silver to gold bs motto bandied about is cringey nonsense from 2013.

traveller0101

A Battered Mars Bar wrote: »

What does it matter? I'll keep buying coins i want, to say what is to pump my coins, ive no interest in that, i'll buy as much as i can rather than pumping and pricing myself out the market.

But i sincerely have no interest in ltc, and this silver to gold bs motto bandied about is cringey nonsense from 2013.

You're the only one to mention silver in this thread :pac:


ltc has had a 1000%+ increase in the last year..

ZeroThreat

A Battered Mars Bar wrote: »

What does it matter? I'll keep buying coins i want, to say what is to pump my coins, ive no interest in that, i'll buy as much as i can rather than pumping and pricing myself out the market.

But i sincerely have no interest in ltc, and this silver to gold bs motto bandied about is cringey nonsense from 2013.

You seem like someone who doesn't actually hold any crypto and comes here to without any intention of participating in a proper discussion tbh.

edit: lets not be throwing around accusations. report your thoughts on the motivations of a poster but lets not start dropping sandwiches under bridges.

username?!

My thoughts are good on LTC. I can see it being 75$ by Christmas with all altcoins due a run.

ZeroThreat

username?! wrote: »

My thoughts are good on LTC. I can see it being 75% by Christmas with all altcoins due a run.

75% of what - the value of a BTC, I hope

Or did you mean €75?

username?!

ZeroThreat wrote: »

75% of what - the value of a BTC, I hope

Or did you mean €75?

Typo. $75 dollars yes.

traveller0101

What makes you think that?

ZeroThreat

Litecoin just took quite a jump tonight..

The One Doctor

ZeroThreat wrote: »

Litecoin just took quite a jump tonight..

Lightning integration announced...

username?!

traveller0101 wrote: »

What makes you think that?

Its the cheapest of the top coins. There is room for huge movement in it, also the tech and team behind it are strong. With coinbase now opening up institution investments all of the 3 will increase dramatically.

Benildus

12% growth over the last week in LTC

ZeroThreat

username?! wrote: »

Its the cheapest of the top coins. There is room for huge movement in it, also the tech and team behind it are strong. With coinbase now opening up institution investments all of the 3 will increase dramatically.

are coinbase planning on adding any others to the 'big 3' ?

traveller0101

ZeroThreat wrote: »

are coinbase planning on adding any others to the 'big 3' ?

I think they're making BCash available in 2018

ZeroThreat

traveller0101 wrote: »

I think they're making BCash available in 2018

*Spits on ground*

ZeroThreat

So, Litecoin reaches $100 now

Shauny2010

Used Litecoin for the first time last night. Bought them on Kraken for $93. Sent them to Bittrex and sold them for $94


I only used them to transfer funds as I wanted to buy more Neo.
Litecoin is a good coin, fast transactions too, it took less than 15 minutes to have the funds confirmed on Bittrex, I often waited for a day or more with Bitcoin and suffered the transaction fees too
If cryptos do start to get used for everyday transactions then its the coins with the low fees and fast transaction times which will become really popular.

DeSelby83

I think the atomic swap concept is pretty interesting too. Don't have a detailed exact understanding of it but using litecoin to pay for stuff in bitcoin and not pay any fee for changing sounds pretty good (if I understand it correctly).

Chancer3001

Anyone predicting best case scenario prices ?

Surely 1/4 of Bitcoin is ideal. As there's 4 times as many litecoins

ZeroThreat

Chancer3001 wrote: »

Anyone predicting best case scenario prices ?

Surely 1/4 of Bitcoin is ideal. As there's 4 times as many litecoins

Of course I'd ultimately prefer Vertcoin to reach that exchange rate, since I own about 1,000 of them

kellbag91

Not sure I've come the party late on the cryptos but from doing a bit of my own research on the market Bitcoin margins seem a bit high to make any real money. I've moved to litecoin because it's one of the big 3 on Coinbase which seems like the tinder of Crypto apps. I also noticed over the last few days when Bitcoin was up in value so was Litecoin and vice versa. The end of 2018 some seem to think 1000 USD in price. but who knows.

The One Doctor

I noticed something interesting about Litecoin. On GDAX, the order book shows that someone, somewhere, holds circa 221 thousand coins... and expects the price to drop to zero one day.

That's why Litecoin will never get too expensive.

Chancer3001

Huh???

highgiant1985

The One Doctor wrote: »

I noticed something interesting about Litecoin. On GDAX, the order book shows that someone, somewhere, holds circa 221 thousand coins... and expects the price to drop to zero one day.

That's why Litecoin will never get too expensive.

Sorry newbie to Cryptocurrencies here. I don't understand above statement. Mind if I ask, how do you they expect price to drop to zero one day from the order book?

My own background is -
I feel diversity is important in any portfolio. I've investments/assets in a number of other areas already e.g. purchased property (mortgaged), pension (maximizing contributions currently 20% of salary based on my age allowed limits), stocks (via Degiro)/

I feel my investments in Cryptocurrencies is a form of gambling for me really as I don't fully understand them but if things work out on them great, if not it was money I can afford to lose. I'm going to start off with relatively low amounts in to Bitcoin, Ethereum and Litecoin and then keep researching what other options are out there.

Shiny

The One Doctor wrote: »

I noticed something interesting about Litecoin. On GDAX, the order book shows that someone, somewhere, holds circa 221 thousand coins... and expects the price to drop to zero one day.

That's why Litecoin will never get too expensive.

Are you sure its one person? Its more likely dozens if not hundreds of people.

This has happened due to opportunists hoping for another flash crash on gdax.

Edit, I know the flash crash was Eth but the principle is the same across all currencies.

pro_gnostic_8

Shauny2010 wrote: »

Litecoin is a good coin, fast transactions too, it took less than 15 minutes to have the funds confirmed on Bittrex, I often waited for a day or more with Bitcoin and suffered the transaction fees too
If cryptos do start to get used for everyday transactions then its the coins with the low fees and fast transaction times which will become really popular.

They are fast because nobody is using these coins.
That's the dilemma, if Litecoin or any of the alts gained traction in usage, their blockchains and mempools would become bloated -- making their transaction times and fees even worse than the similar problems Bitcoin is currently experiencing.
Scaling for wide adoption and usage is a major issue across all crypto's, not just Bitcoin. Just yesterday, Ethereum blockchain became jammed because a few thousand extra were buying and trading Cryptokitties!

pro_gnostic_8

username?! wrote: »

Its the cheapest of the top coins. There is room for huge movement in it, also the tech and team behind it are strong. With coinbase now opening up institution investments all of the 3 will increase dramatically.

The tech behind it is essential Bitcoin tech; Litecoin is a clone of Bitcoin.
And the team is frankly one person -- Charlie Lee -- the founder.

I'm not attacking Litecoin, I'm just curious as to what unique selling point Litecoin would have once Bitcoin incorporates Lightning Network, schorr signatures and atomic swaps etc. Won't Litecoin be redundant in that scenario.

And what makes you believe that their would be a mad rush by institutional investors just because an exchange (Coinbase) integrates Litecoin into it's markets? Bitstamp and many others have been doing so for years.

The One Doctor

Litecoin is a testbed for new Bitcoin tech, that's all really. It has no special advantages except that it's one of the most well known altcoins and it's cheap. At the moment it's near it's peak, slowly beginning to slide off into a trough. While in percentage growth terms it's done better than Bitcoin, so have many other coins. No doubt it'll slide into obscurity in the next few years. I've traded on it and made a few schekels, but right now it doesn't have enough volatility since it's too near the ATH. I'm off to Ripple and Vertcoin.

Chancer3001

Some trough....

In the last 2 weeks it's gone from 70 to 100....

Keep on troughing!

EagererBeaver

A nice, round €100.

EagererBeaver

EagererBeaver wrote: »

A nice, round €100.

Briefly...