The Litecoin Thread

papu · 11-12-2017 5:55pm

Sarah1916 wrote: »

I only invested in Crytocurrency last week for the first time and decided to go with Litecoin.
Safe to say I am delighted with myself.
BUT I only invested with an amount I am willing to lose as we all know it can all go the other way at any time.

This is Key, I'm considering it money spent and lost already.
That being said, its all been profit so far.

Hammer Archer · 11-12-2017 6:54pm

So can someone more knowledgeable than me suggest a wallet? Would it be better to go with a paper wallet or something like Electrum LTC?
I'm a little bit confused about them but the main bit of advice I can see is that you shouldn't really be keeping them in Coinbase for long.

pro_gnostic_8 · 11-12-2017 7:10pm

Autochange wrote: »

I only bought a grand sum of 1 litecoin at 76 euro. I wish I bought more.

Well done !
A nice and gentle intro into crypto -- you haven't gone too crazy like many have done. Just take it easy and cool, don't get sucked into FOMO.
You're already up over 100%, so well done you !

Autochange · 11-12-2017 7:43pm

pro_gnostic_8 wrote: »

Well done !
A nice and gentle intro into crypto -- you haven't gone too crazy like many have done. Just take it easy and cool, don't get sucked into FOMO.
You're already up over 100%, so well done you !

Thats true! Now to sell and start again if it gets lower or wait longer

I guess thats the million dollar question everyone is asking!!

Dohnjoe · 11-12-2017 8:39pm

Autochange wrote: »

Thats true! Now to sell and start again if it gets lower or wait longer

I guess thats the million dollar question everyone is asking!!

Or just hold and leave it there, and be one of those people who bought it for peanuts "way back in 2017". No stress with exchanges, no regrets.

EagererBeaver · 11-12-2017 11:12pm

To tha' moon, yo'

Going crazy again this evening.

flashforward · 11-12-2017 11:31pm

EagererBeaver wrote: »

To tha' moon, yo'

Going crazy again this evening.

Any reason for this rise?
I've read the big players are selling BTC for LTC, not too sure why or how long this will last.

We will see €200 LTC before the hour is out.

Is a big correction coming?

grindle · 12-12-2017 12:03am

flashforward wrote: »

Any reason for this rise?

Charlie Lee was on CNBC today & on Glenn Beck's show a few days ago.

flashforward wrote: »

Is a big correction coming?

Probssibly

Selik · 12-12-2017 12:16am

$223 on Bitstamp !

august12 · 12-12-2017 12:27am

Autochange wrote: »

Thats true! Now to sell and start again if it gets lower or wait longer

I guess thats the million dollar question everyone is asking!!

Did the same as you, bought one litecoin last week, half an ether and a fraction of Bitcoin, sold the Bitcoin and sold the litecoin today, within half an hour it had increased by 40 euro but I still have made a nice profit, I didn't want to be too greedy, am using coinbase and Gdax.

SlowBlowin · 12-12-2017 12:27am

LTC has been adopted by a mobile top up company, as well as steam who droped BTC in favor of LTC.

Also current glut of transactions has lead to big backlogs on BTC mempool, LTC is coping fine so its highlighting the superior nature of the LTC network.

Also lots of media etc.

I retire at LTC=$1000, hopefully..

SB

august12 · 12-12-2017 12:29am

pro_gnostic_8 wrote: »

Well done !
A nice and gentle intro into crypto -- you haven't gone too crazy like many have done. Just take it easy and cool, don't get sucked into FOMO.
You're already up over 100%, so well done you !

Sorry, what does FOMO mean?

grindle · 12-12-2017 12:34am

august12 wrote: »

Sorry, what does FOMO mean?

Fear Of Missing Out.

GreeBo · 12-12-2017 12:40am

SlowBlowin wrote: »

LTC has been adopted by a mobile top up company, as well as steam who droped BTC in favor of LTC.

Also current glut of transactions has lead to big backlogs on BTC mempool, LTC is coping fine so its highlighting the superior nature of the LTC network.

Also lots of media etc.

I retire at LTC=$1000, hopefully..

SB

Day to day usage is only possible with a stable currency...Im not sure Id consider $1K LTC stable considering its hovering aroiund $200 now

(Though it would be awesome!):D

Dohnjoe · 12-12-2017 1:42am

flashforward wrote: »

Any reason for this rise?
I've read the big players are selling BTC for LTC, not too sure why or how long this will last.

We will see €200 LTC before the hour is out.

Is a big correction coming?

One potential factor: a lot of new people are coming into crypto due to the recent crazy Bitcoin rises reaching mainstream news. A massive gateway is Coinbase. They offer 3 coins. The "cheapest" of which is Litecoin.

Most (new) people would rather hold 10 of a coin than 20% of another coin

It's human nature and psychology - and so much of this market is herd psychology

Again, just one potential factor.

Also due to market supplycap, people feel it is "underpriced" compared to Bitcoin from a cap/age point of view

SlowBlowin · 12-12-2017 1:57am

I still belive LTC will rise to 25% of bitcoin, it seems logical. In all other aspects the Litecoin network is superior/the same.

I dont think LTC/BTC can be considered as a currency for everyday use, more a new idea/way of thinking finding its feet.

I cant help thinking they should fall flat on thier faces, but with the market capital in there, it seems unlikely.

I was looking the other day at the top LTC wallets and was surprised to find that many were very new, within the last 12 months, yet held huge quantities of coin. There were a lot of miners wallets the same age as mine (2013/14) but a lot is new money.

You think it would be a pleasurable experience but these rises have really stressed me out.

SB

papu · 12-12-2017 2:57am

200.. wow

220...

UsBus · 12-12-2017 9:12am

Am gutted, been looking at lite coin for a while. Decided on a bank transfer to coinbase last Friday...was around €80 euro at the time....coinbase have said bank transfers are delayedðŸ˜‘

fran426ft · 12-12-2017 9:24am

UsBus wrote: »

Am gutted, been looking at lite coin for a while. Decided on a bank transfer to coinbase last Friday...was around €80 euro at the time....coinbase have said bank transfers are delayedðŸ˜‘

My transfer only came through this morning also. Now I'm not sure where to put my money. Knowing my luck if I put my money in the price will drop or if I wait for a dip the price will head to the moon.

I had bought 1 LTC last week but sold it yesterday at €161 not thinking it would go that high. Think I'll HODL for my next investment and see what happens.

Uncle Mclovin · 12-12-2017 10:18am

Same as you guys. Had transferred across and was waiting for funds to come through to make the purchase. Don't know if it's worth the risk at €212.

I guess I'm a little like the rest of the people who are new to all this and as lite coin is the cheapest of the main three then that is where I was thinking of putting my money. Not a good investment strategy probably.

jester77 · 12-12-2017 10:44am

Anyone else hesitant to invest further. It's only around half a year since you could pick it up for < €20, now it's 10x the price. I would like to invest further, but I haven't since it was at €35. It's just going up way too fast for my liking.

rapul · 12-12-2017 10:47am

Quite hesitant alrite I had bought back when it was relatively cheap, well definitly cheaper than it is now,but dont know what to be thinking , great profit at the moment ,gonna just wait it out and see id say in the end!

Chancer3001 · 12-12-2017 11:18am

Growthleft but ow much remains to be seen.

Time to get on other coins that can get the 10x easier

Twiggy69 · 12-12-2017 11:54am

Where can a person research to make an informed decision rather than trying to beat the market? I saw a guy on YouTube related to the Gdax account, he was talking about making money in a falling market... is this referring to buying futures????

papu · 12-12-2017 11:54am

LTC still has legs as I see it.
It's still the cheapest option for people jumping in on coinbase, the transaction speeds are super quick and the fees are so much less than BTC.
Going to Hodl for another 50-100%

jonny_b · 12-12-2017 11:55am

Delighted I got in on this early just raging I didn’t buy more of them. Charlie lee had an interesting post on Twitter yesterday saying it could just as easily fall back to $20 due to the bearish moves. If it does I’ll be in like a flash buying more

papu · 12-12-2017 11:55am

Twiggy69 wrote: »

Where can a person research to make an informed decision rather than trying to beat the market? I saw a guy on YouTube related to the Gdax account, he was talking about making money in a falling market... is this referring to buying futures????

There are no informed decisions really, prices will fluctuate for reasons you really can't predict. Invest what you'd be comfortable with losing. Currently all the major cryptos are making huge gains, it can't last forever though.

The Megaphone · 12-12-2017 11:58am

papu wrote: »

it can't last forever though.

Yes is can if we all keep saying it can, and start encouraging all our friends to start investing!!

The Megaphone · 12-12-2017 12:01pm

On the delay with SEPA deposits, I used my credit card to purchase at the weekend so while at a higher rate, the difference is inconsequential at this time given the recent spike in value!

dan786 · 12-12-2017 12:41pm

Got 6.7 coins at 600 few days back. Now getting 1250€. Any suggestions?

Wombatman · 12-12-2017 12:45pm

dan786 wrote: »

Got 6.7 coins at 600 few days back. Now getting 1250€. Any suggestions?

50\50 split and then freeroll your profits?

fran426ft · 12-12-2017 12:47pm

I said I'd wait and see instead of buying in this morning when price was €205 now it's €242. typical.

papu · 12-12-2017 12:53pm

dan786 wrote: »

Got 6.7 coins at 600 few days back. Now getting 1250€. Any suggestions?

What's your target?

NaiveMelodies · 12-12-2017 12:58pm

This is getting insane. I think I need to sell soon.

papu · 12-12-2017 1:00pm

NaiveMelodies wrote: »

This is getting insane. I think I need to sell soon.

Almost 250€

Wombatman · 12-12-2017 1:02pm

Negative_G · 12-12-2017 1:03pm

I have a small amount invested. Complete novice.

It seems to be unsustainable now that its approaching 250.

Million dollar question. When do you pull the plug and run?

papu · 12-12-2017 1:04pm

Negative_G wrote: »

I have a small amount invested. Complete novice.

It seems to be unsustainable now that its approaching 250.

Million dollar question. When do you pull the plug and run?

Why do you think it's unsustainable?

DeSelby83 · 12-12-2017 1:04pm

Negative_G wrote: »

I have a small amount invested. Complete novice.

It seems to be unsustainable now that its approaching 250.

Million dollar question. When do you pull the plug and run?

You could pull the plug and buy back in when it drops......if it drops.

Sarah1916 · 12-12-2017 1:04pm

So hard to know. Maybe we will look back in a years time and think 'God, why didn't I buy more when they were so cheap @ $250'.... Or maybe we will say 'why didn't we sell'! Nobody knows!
All we can do is hope

john kinsella · 12-12-2017 1:05pm

This is insane! 46% growth today alone!

superfurry1 · 12-12-2017 1:08pm

By the lite of the silvery moon

dan786 · 12-12-2017 1:08pm

Wombatman wrote: »

50\50 split and then freeroll your profits?

Might to do that. Might wait and see till end of day. Have a feelings its crossing 300 today.

Negative_G · 12-12-2017 1:09pm

papu wrote: »

Why do you think it's unsustainable?

Lack of understanding essentially.

The general Perception from what i read online is that a big correction is quite likely.

Its gone from just over 100 on Sunday to almost 250 today.

Do you think its sustainable?

dan786 · 12-12-2017 1:11pm

papu wrote: »

What's your target?

Never set a target. I bought a bitcoin and Ether too.

Bitcoin is not going up - went down and now recovered to what I got it for.

Ether up marginally.

While Litecoin has almost trebled - had planned to wait till 1000 on this and then sell. But no one predict the future so unsure now seeing that its going up very fast there has to be a correction

Elemonator · 12-12-2017 1:12pm

I'm not sure if this is the right thread for this sort of question but I'm certainly interested in crytocurrencies. What is everyone's tax liability and how do you keep track of such transactions, if at all? My understanding is that it will fall under CGT and I will pay it but I have been led to believe that it is self assessed hence my questions on keeping track of investments/profits and when it needs to be filed.

NaiveMelodies · 12-12-2017 1:12pm

Its abnormal.

Benzino · 12-12-2017 1:13pm

Negative_G wrote: »

Do you think its sustainable?

Nobody knows, people have been saying Bitcoin will crash all year, and yet there it is, making some people millionaires.

papu · 12-12-2017 1:13pm

Elemonator wrote: »

I'm not sure if this is the right thread for this sort of question but I'm certainly interested in crytocurrencies. What is everyone's tax liability and how do you keep track of such transactions, if at all? My understanding is that it will fall under CGT and I will pay it but I have been led to believe that it is self assessed hence my questions on keeping track of investments/profits and when it needs to be filed.

Depends where you trade, but you can usually generate a report and calculate your profits from that.

SlowBlowin · 12-12-2017 1:36pm

300 is being a big stubbon... seen 312 just now but its not breaking clear.

The Litecoin Thread

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