The Litecoin Thread

McCrack

Prices/values should always be quoted in USD

Selik

100% and I have brought this up before in the bitcoin thread. Quoting in anything other than USD only creates confusion and if you are on trading in that basis also it won't end well as all of the big buy/sell orders will be at the big round numbers and the points of support/resistance will be at USD prices. Same reason the likes oil/gold et c are only ever quoted in USD also.

This forum is the only place I have ever seen bitcoin or any cryptocurrencies discussed in terms of EUR.

SureYWouldntYa

Selik wrote: »

This forum is the only place I have ever seen bitcoin or any cryptocurrencies discussed in terms of EUR.

An Irish forum where the currency is Euro? Mad isn't it

I think using either of the symbols or EUR/USD isn't an awful effort for anyone

EagererBeaver

SureYWouldntYa wrote: »

An Irish forum where the currency is Euro? Mad isn't it

I think using either of the symbols or EUR/USD isn't an awful effort for anyone

You've missed the point entirely.

SureYWouldntYa

EagererBeaver wrote: »

You've missed the point entirely.

I know what he meant in that the vast majority of the market trade from USD and most of the major price points and price walls are only relevant in USD, fact is that most people will look at any potential gains or losses in what's really relevant to us in Euro so I don't see the harm so long as it's labelled correctly

EagererBeaver

SureYWouldntYa wrote: »

I know what he meant in that the vast majority of the market trade from USD and most of the major price points and price walls are only relevant in USD, fact is that most people will look at any potential gains or losses in what's really relevant to us in Euro so I don't see the harm so long as it's labelled correctly

But who is talking about gains or losses? None of us care whether Person Y made 500 euro or lost 250 yesterday.

The mutual interest of all of us is how the market moves and that means, for most coins, looking at it in dollar terms.

SureYWouldntYa

EagererBeaver wrote: »

But who is talking about gains or losses? None of us care whether Person Y made 500 euro or lost 250 yesterday.

The mutual interest of all of us is how the market moves and that means, for most coins, looking at it in dollar terms.

Because that's what the market is? The price means either you gain or you lose

The price of BTC matters, do people say that Ripple is now worth 0.00009 BTC? So long as you're figuring out the price that matters to you it's all the same

EagererBeaver

SureYWouldntYa wrote: »

Because that's what the market is? The price means either you gain or you lose

The price of BTC matters, do people say that Ripple is now worth 0.00009 BTC? So long as you're figuring out the price that matters to you it's all the same

The vast majority of trading, and therefore the buy and sell orders that can shift the price around so dramatically, are in USD. The big swinging mickey buy/sell walls are at major dollar milestones, not euro ones.

Dohnjoe

EagererBeaver wrote: »

The vast majority of trading, and therefore the buy and sell orders that can shift the price around so dramatically, are in USD. The big swinging mickey buy/sell walls are at major dollar milestones, not euro ones.

Big Swinging Dicks - Micheal Lewis at Salomon bros

sunrainmooncl

Let me know if you need help finding the € symbol

McCrack

McCrack wrote: »

Prices/values should always be quoted in USD

I disagree it annoys me people constantly talking about USD prices and breaking USD price barriers as it means nothing to me as I follow in euro as it makes sense given that euro is our currency and how we measure or losses/gains.

EagererBeaver

Martha Early Scorpion wrote: »

I disagree it annoys me people constantly talking about USD prices and breaking USD price barriers as it means nothing to me as I follow in euro as it makes sense given that euro is our currency and how we measure or losses/gains.

Breaking price barriers means nothing to you? Won't give a toss when it goes through $20k? Bit daft if you ask me.

Of course, I'm eagerly awaiting the €16,744.80 barrier. Can't wait to see what happens.

covfefe

Martha Early Scorpion wrote: »

I disagree it annoys me people constantly talking about USD prices and breaking USD price barriers as it means nothing to me as I follow in euro as it makes sense given that euro is our currency and how we measure or losses/gains.

I don't see how it can be annoying as long as people consistently mention which currency they are using. I live in a Eurozone country but any trading I do is exclusively using USD currency pairings as that is where the most liquidity is. Also, USD price levels are important as you often do get resistance and support areas associated to them.

So whether you like it or not people will continue to refer to USD prices (and EUR prices) and in my opinion that is logical and correct, we're all entitled to our opinions though.

GreeBo

USD is the largest market, you can't just ignore it guys.
It's what drives the price.

Matt Simis

covfefe wrote: »

I don't see how it can be annoying as long as people consistently mention which currency they are using. I live in a Eurozone country but any trading I do is exclusively using USD currency pairings as that is where the most liquidity is. Also, USD price levels are important as you often do get resistance and support areas associated to them.

Yes this. Call it annoying or whatnot but as a market its denominated primarily in USD therefore its super awkward to try quote in AUD, Euro or GBP.

Thankfully Euro has its own symbol unlike AUD and the rest so its really clear what the number and currency is when quoting say $20k.

EagererBeaver

EagererBeaver wrote: »

Breaking price barriers means nothing to you? Won't give a toss when it goes through $20k? Bit daft if you ask me.

Of course, I'm eagerly awaiting the €16,744.80 barrier. Can't wait to see what happens.

Breaking price barriers means a lot to me, euro price barriers. 20k euro would mean something not the 23953.20 dollar barrier. Like dollars mean nothing to us, our currency is euro, we buy and sell in euro, profits are calculated in euro so to me all I ever look at are euro prices.

EagererBeaver

Right, so when there's a giant sell off at $20k that causes the price to fall and everyone starts to wonder whether it's a sustained fall, a correction or Armageddon, you'll just ignore it because only Euros matter to you. Cool. Daft, but cool.

GreeBo

Martha Early Scorpion wrote: »

Breaking price barriers means a lot to me, euro price barriers. 20k euro would mean something not the 23953.20 dollar barrier. Like dollars mean nothing to us, our currency is euro, we buy and sell in euro, profits are calculated in euro so to me all I ever look at are euro prices.

It's fine to talk about profits in euro, but prices should be USD.

EagererBeaver

GreeBo wrote: »

It's fine to talk about profits in euro, but prices should be USD.

Absolutely, but as to my earlier point, profits and holdings are unique to each individual with skin in the game and, frankly, none of us should care how much anyone else the rest of us have made or lost. Coming on to tell everyone on the forum you made a grand? Cool, but you're still a bellend. Price, on the other hand, is a mutual interest for all of us.

GreeBo

Anywho, ltc seems to be in a prolonged slump at the moment.
Pre Christmas correction is sticking.

EagererBeaver

GreeBo wrote: »

Anywho, ltc seems to be in a prolonged slump at the moment.
Pre Christmas correction is sticking.

Yup. Good for the long term prospects of it is what I'm clinging to buy a Christmas present bump would have been nice!

GreeBo

EagererBeaver wrote: »

Yup. Good for the long term prospects of it is what I'm clinging to buy a Christmas present bump would have been nice!

I just entered a stop loss at €200...too much action elsewhere that I'm missing out on

GreeBo

GreeBo wrote: »

It's fine to talk about profits in euro, but prices should be USD.

But then you spend your day trying to convert to euros to work out your portfolio value etc. I just don't even look at dollar prices as all it means is I have to try convert to figure out how things are going for me. Following things is enough it a distraction without having to constantly convert to know where you stand.

Anyway, its each to their own in how they want to follow things.

Autochange

GreeBo wrote: »

I just entered a stop loss at €200...too much action elsewhere that I'm missing out on

Exactly what I have done. Sold and went straight into Ripple. My bank has already gone up 100 dollars

GreeBo

Martha Early Scorpion wrote: »

But then you spend your day trying to convert to euros to work out your portfolio value etc. I just don't even look at dollar prices as all it means is I have to try convert to figure out how things are going for me. Following things is enough it a distraction without having to constantly convert to know where you stand.

Anyway, its each to their own in how they want to follow things.

Just base your profits on dollars?
You only need the euro value when you sell.

If dollar value goes up, you made money.
Simples.

Autochange

Autochange wrote: »

Exactly what I have done. Sold and went straight into Ripple. My bank has already gone up 100 dollars

Ripple just hit 2 dollars with the Asian markets only starting to wake up in the next hour or so

GreeBo

Autochange wrote: »

Exactly what I have done. Sold and went straight into Ripple. My bank has already gone up 100 dollars

I've given up waiting on €200, selling out now.
Ada, xlm and xrp next investments

EagererBeaver

GreeBo wrote: »

Autochange wrote: »

Exactly what I have done. Sold and went straight into Ripple. My bank has already gone up 100 dollars

I've given up waiting on €200, selling out now.
Ada, xlm and xrp next investments

Nicely done. Has continued to sink. I'm keeping 5 LTC to see what happens next year. Took out 2.5 to put into XRB and give it a go. Of course I wish I'd put everything I had into XRB three months ago but ah well.

Wombatman

garrettod

Hi,

What's the view on Litecoin and it's disappointing price drop ?

... blame it in Bitcoin, or something else ?

el diablo

garrettod wrote: »

Hi,

What's the view on Litecoin and it's disappointing price drop ?

... blame it in Bitcoin, or something else ?

Disappointing price drop? it's up over 5,800% this year. Are you brand new to this game? Corrections are normal and very healthy for these markets.

garrettod

el diablo wrote: »

Disappointing price drop? it's up over 5,800% this year. Are you brand new to this game? Corrections are normal and very healthy for these markets.

I'm obviously talking about recent weeks .... it's down c35% in the last 3 weeks.

el diablo

garrettod wrote: »

I'm obviously talking about recent days ....

A lot of the large cap currencies are experiencing a downturn over the last couple of weeks after a crazy bull run. Litecoin might've dropped partly due to Charlie Lee selling all his holdings.

UnknownEntity

garrettod wrote:

Hi,

garrettod wrote:

What's the view on Litecoin and it's disappointing price drop ?

garrettod wrote:

Hi,

garrettod wrote:

What's the view on Litecoin and it's disappointing price drop ?

garrettod wrote:

... blame it in Bitcoin, or something else ?

As the last poster said, price corrections are always healthy and give sustainability to a coin in the long term. It's true that it's growth has been quite disappointing in recent weeks but the same can be said about most coins after the early December madness. Litecoin's growth is very closely related to Bitcoin's and I believe that is the biggest reason for it's stagnation recently.

After all, if you really believe in LTC, as the majority of us here do, then this recent period has been a fantastic buying opportunity because there is no doubt that this coin is very undervalued and who knows where it will be by the end of 2018.

LiteCash

It's Christmas, people cash out for presents and socializing. Expect a steady rise through January!

Dohnjoe

I wouldn't have any expectations, the coin (and many others) just jumped large amounts in early December

The market went from 100 billion to over 500 billion in a couple of months

Anything could happen, more dips, a crash, a steady bull, a long bear.. but after 4 years holding this coin, I still wouldn't dream of selling it yet, unless some apocalyptic event happens in the market I wouldn't be the slightest bit surprised to see it reach new ATHs in the next few years, possibly even H1 this year

Two things about this market: first is that is incredibly unpredictable, second is that to date it has risen ridiculous amounts

garrettod

el diablo wrote: »

.... Litecoin might've dropped partly due to Charlie Lee selling all his holdings.

Yup, had read about that alright, but was then wondering has a level of trust been lost by some people who previously supported the currency as a result ?

It's either a very admiral and honest thing he's done, to try and remove any risk of conflict, or he's cashed in because he fear's the best is over..... I'd love to believe what he's said, but given there's good and bad in this world, it's hard to know what sort of person you are dealing with and particularly, when there's a lot of money involved.

UnknownEntity wrote: »

...Litecoin's growth is very closely related to Bitcoin's and I believe that is the biggest reason for it's stagnation recently.

That's one of the things I don't understand (but why I referenced Bitcoin in my initial post), why it is more closely linked to Bitcoin than some of the other currencies ?

Thanks

.

PotatoSpud

How much can you accredit litecoins peak value as being down to being the cheapest option on coinbase and a pretty great name (both deriving from Bitcoins ubiquitousness and seemingly addressing bitcoins most commonly cited issue, how bloated the system has become)? It seems the perfect target for a lot of naive money at that point.

Dohnjoe

PotatoSpud wrote: »

How much can you accredit litecoins peak value as being down to being the cheapest option on coinbase and a pretty great name (both deriving from Bitcoins ubiquitousness and seemingly addressing bitcoins most commonly cited issue, how bloated the system has become)? It seems the perfect target for a lot of naive money at that point.

Many coins rose during the recent December madness. Some without whitepapers, others in the midst of scams, others that are little more than memecoins

Litecoin deserved it's rise as much as any other. Relative to these other coins it has a lot of advantages. It's visible (top 10), established, has stood the "test of time", decent transaction fees, decent transaction times, weathers crashes well (compared to other alts), as mentioned had early Coinbase support, is very similar to Bitcoin but is a "fraction of it's price" in relation to market cap, has a strong established community

Despite all these new fancy high-tech coins, the market still places high value and trust in Bitcoin, the leader by a clear shot. Litecoin has pretty much cemented it's market view as the "silver to Bitcoins gold" so I doubt it's going anywhere soon

Wombatman

Why does nobody love me ?

jon1981

Wombatman wrote: »

Why does nobody love me ?

Isn't this the nature of most crypto... you get 10 mins of fame and you're done

benjamin d

Is LTC the cheapest way to transfer out of GDAX to binance?

Wombatman

benjamin d wrote: »

Is LTC the cheapest way to transfer out of GDAX to binance?

No LTC coin pairs so you have to trade to get ETH or BTC to work with. I usually use ETH to transfer. 30 min or so and you are good to go.

benjamin d

Wombatman wrote: »

No LTC coin pairs so you have to trade to get ETH or BTC to work with. I usually use ETH to transfer. 30 min or so and you are good to go.

Cheers, used ETH in the end so I'm just waiting now.

papu

Decent rise happening overnight , looks like the 90% + level of market cap trading and opening of a large Japanese exchange on the 10.1.2017 have the market moving upwards! Happy days.

Edit, also Litecoin cheaper to transfer and potential fork!


Edit 2. It's noon now, and Ltc just broke the 250€, 300$ barrier on gdax

sReq | uTeK

papu wrote: »

Decent rise happening overnight , looks like the 90% + level of market cap trading and opening of a large Japanese exchange on the 10.1.2017 have the market moving upwards! Happy days.

Edit, also Litecoin cheaper to transfer and potential fork!


Edit 2. It's noon now, and Ltc just broke the 250€, 300$ barrier on gdax

Is the Fork going to go down positively?

sReq | uTeK

How do people feel about the recent slump after it picked up again?

seannash

sReq | uTeK wrote: »

How do people feel about the recent slump after it picked up again?

If there is no new news coming out I reckon LTC will be a slow steady trek towards the top. I think its days of rocketing up in value may be over. Its more a long term bet like Bitcoin now.
No doubt it will increase but at a slower pace

garrettod

seannash wrote: »

....No doubt it will increase but at a slower pace

Hi,

What do you base that on ?

I think I get the bit about the slower pace, if there is no real high profile news .. but the bit about there being "no doubt it will increase" ?

seannash

garrettod wrote: »

Hi,

What do you base that on ?

I think I get the bit about the slower pace, if there is no real high profile news .. but the bit about there being "no doubt it will increase" ?

I think the cypto market as a whole will increase and lite coin being the entry point for a lot of people on coinbase should profit from it.
Of course this is purely speculation but if you want to get really into the nitty gritty its not a stretch to imagine lite coin hitting $300 again which would technically be an increase on where it stands right now. The size of the increase is what I cant speculate on.
Perhaps I should have said I have no doubt it will increase