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The Litecoin Thread

traveller0101

Who here is holding some Litecoin?

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

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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.

[Deleted User]

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.