Also, creator of litecoin said that only reason litecoin still exists (or at least not dead like other coins) is because chinese people can mine for almost 0 cost in China.
That's not what he said at all but good fud attempt.
After the halving one would expect that either the price will go up or the hashrate must drop. This is because mining is designed with a Nash equilibrium of miner profit reaching 0 over time. So if miners are running at near 0 profit, and suddenly their revenue gets cut in half, miners would need to turn off their machines unless they are willing to mine at a loss.
The halving happened, and the price stayed the same. The hashrate dropped a little but then climbed back up pretty quickly to the previous level. That’s really unexpected, but I think I have an explanation. I talked to some Chineses miners at Scaling Bitcoin and learned something interesting. Most miners have found electricity for free or close to 0 cost. Chinese hydro power plants are sometimes generating too much electricity. That electricity goes to waste if it’s unused. So these plants have either sold the electricity for near 0-cost or they have partnered with miners to give them free electricity for a revenue share.
So this makes total sense now. If the electricity is free or close to 0 cost, then there’s no reason for miners to shut down their machines. They make half as much, but still profitable. These miners have also been asking around at the conference to try to buy old outdated Bitcoin/Litecoin ASICs. With 0-cost electricity, they can keep those machines running and still make money.
Dumbledore is twisting words in a half-ass manner and trolling LTC in general, not hard to discern that based on post history.
The price was factored in pre-halving so Coblee is wrong there.
We were in the 1.30-2$ range for 6 months with a low of 1.05.
Bubble happened pre-halving and we've settled in the 2.50-3$ range for the past month with decent support @2.50.
Price is up overall post-halving, whether it will stay up is anyone's guess.