Author Topic: Why isn't LTC interesting?  (Read 5655 times)

Offline Mr Fusion

  • Jr. Member
  • **
  • Posts: 107
Why isn't LTC interesting?
« on: December 13, 2015, 08:28:09 AM »
With the big rise in price of BTC the last weeks, why does LTC get behind more and more. For a long period LTC/BTC ratio was about 0.012 and it used to be so that if BTC went up, LTC followed. But that does not seem to be the case anymore, LTC/BTC ratio is about 0.0085. And that is not good imo. Sure not if you would believe it should be 0.05 (1:20) as was predicted somewhat a year ago.
So I wonder, why is LTC not interesting for people to buy? And what can we do about it?

Offline mkimid

  • Newbie
  • *
  • Posts: 8
Re: Why isn't LTC interesting?
« Reply #1 on: December 13, 2015, 05:27:38 PM »
Becasue there is no place to use yet, and there is no clear vision for this coin.
and, there is no technical difference or benefit via BTC.
Actually, all alt coin has same problem.

Offline Mr Fusion

  • Jr. Member
  • **
  • Posts: 107
Re: Why isn't LTC interesting?
« Reply #2 on: December 13, 2015, 09:46:47 PM »
I don't think that is the problem, you can't buy very much with BTC either.
What I learned during the time I'm into LTC is that it's value is hardly determent by the people who do use them but mostly by traders (even the halving did not do anything to it's value).  But for some reason, traders are not interested in LTC and do most of their trading in BTC. When you look at the trading volume of LTC on BTC-E, it's close to zero. Nobody is trading LTC, why is that?
And I know, LTC price is not the most important, I do think high price makes adoption MUCH easier.

Offline Sukarti

  • Hardcore Member
  • *****
  • Posts: 3418
Re: Why isn't LTC interesting?
« Reply #3 on: December 14, 2015, 06:08:08 AM »
2.7 million in 24 hour volume isn't interesting?

It's price is 100% driven by speculation/traders.

The LTC/BTC ratio is just another mechanism for big traders to make huge gains.

I wouldn't get too hung up on it's current state, it's still #2 by a long ways.

Offline Mr Fusion

  • Jr. Member
  • **
  • Posts: 107
Re: Why isn't LTC interesting?
« Reply #4 on: December 14, 2015, 07:48:26 AM »
I'm not sure where you got this 27million number from, but at http://coinmarketcap.com/exchanges/volume/24-hour/ the LTC 24h-volume is $855,988 and that compared to BTC 24h-volume $38,187,190 that only 2%!

Offline Sukarti

  • Hardcore Member
  • *****
  • Posts: 3418
Re: Why isn't LTC interesting?
« Reply #5 on: December 14, 2015, 02:18:01 PM »
I'm not sure where you got this 27million number from, but at http://coinmarketcap.com/exchanges/volume/24-hour/ the LTC 24h-volume is $855,988 and that compared to BTC 24h-volume $38,187,190 that only 2%!

http://coinmarketcap.com/

http://imgur.com/ZzYSAaE

3.1 million currently, it's right on the homepage. BTC is in the middle of a buying/selling frenzy.

The daily trading volume is usually a bit less lopsided in terms of %%.
« Last Edit: December 14, 2015, 02:25:54 PM by Sukarti »

Offline Mr Fusion

  • Jr. Member
  • **
  • Posts: 107
Re: Why isn't LTC interesting?
« Reply #6 on: December 14, 2015, 06:42:12 PM »
Ah, yes, I see it now. But it's still only 2.6% compared to BTC's marketcap. (If it's price would be in the same 2.6%, it should be $11.82  :o)
So, why are traders mostly trading in BTC?

Offline Sukarti

  • Hardcore Member
  • *****
  • Posts: 3418
Re: Why isn't LTC interesting?
« Reply #7 on: December 15, 2015, 02:44:48 PM »
Ah, yes, I see it now. But it's still only 2.6% compared to BTC's marketcap. (If it's price would be in the same 2.6%, it should be $11.82  :o)
So, why are traders mostly trading in BTC?

You just need to ride the waves.

With bitcoin on the rise and the BTC/LTC ratio abysmally low, it's a good time to be holding LTC IMO.

Could see some interesting effects once BTC levels off or better yet starts dropping.

Offline Ace of Wands

  • Newbie
  • *
  • Posts: 14
Re: Why isn't LTC interesting?
« Reply #8 on: December 15, 2015, 09:54:00 PM »
Flat out, I can tell you as a Litecoin trader the last year and a half, Litecoin is Chumpcoin, and yes, I am just another chump who believed in it. There's two kinds of Litecoin trader. The kind that knows when to dump and when to buy, because they are insiders. And the chumps. If you do not know the next price move of Litecoin, you are not in the first group.

Both BTC and LTC markets are totally manipulated, but BTC at least is a buy and hold proposition. But LTC? That's to take BTC from the chumps.

If you are holding LTC now, and you're hoping the next price move is up, you are a chump. You are probably waiting and hoping to get your lost bitcoins back. Not going to happen. That last pump and chump, in July, was the final big move.

Yeah, it was beautiful. All the way up to $9, a price it had easily once beaten, and really high bitcoin price, .03 with Charlie feeding your technical wet dreams with all that unused block chain space and value proposition while Bitcoin was having a block size crisis. Oh, and the HALVENING, don't forget the halvening.

If you believed, as I did, you got CHUMPED. ALL of it was bullshit, run by both Bitcoin and Litecoin media and market makers to transfer bitcoins from the chumps, one last time.

And you think it's coming back? If LTC ever tried to hit .03, or even .02, or even ever go up again in bitcoin price, it would be simply another con to get new chumps to buy and lose their bitcoins in another round. Only this time, they can look at the history and perhaps be warned away by those who watched the last two years, and played the last two years, only to be totally made fools of if they believed in this coin.

What bothers me about this chumping, is the Bitcoin and media complicity in the pump and drama. It's a mean and manipulated market, but you won't get taken to the cleaners if you don't trade. Just buy bitcoins and in the long run you'll be alright.

I would hope the next round of new Bitcoiners will be spared the Litecoin con. They should be able to look at Litecoin's trading history and see it for the pump and chump it is.

It's a slicked up copy coin, with only the one use. It can go one of two ways. Up again, which would be to take advantage of a bunch of new losers who buy at the top. If it does that, and you're hoping to sell yours to them, good luck. So is every other fucking Litecoiner. Because Litecoins are worthless.

Or it can just keep going down from here forever, until it's painfully clear you lost every bitcoin you put into it. I don't know which it's going to do, and I don't care.

Find a value, and hold it, steady relative to Bitcoin? NO. It's not for that, because that would only inflate Bitcoin and Bitcoin does not need or want that. No, this coin has to go away, and dash the hope of all other copy coins with it.

If you have it, and believe in it?

Sell that shit.

Offline Ace of Wands

  • Newbie
  • *
  • Posts: 14
Re: Why isn't LTC interesting?
« Reply #9 on: December 15, 2015, 10:21:48 PM »
Yeah, I'm a newbie poster, but I've been around for 2 years in Bitcoin, just haven't talked much.

Will Litecoin go away? I don't know. There's always new chumps.

But it should. It's a nasty thing that just got done, with the last pump and dump and dump and dump, to top off a nasty 2 years of the long dump.

Offline pbleak

  • Full Member
  • ***
  • Posts: 311
Re: Why isn't LTC interesting?
« Reply #10 on: December 15, 2015, 10:32:45 PM »
I think LTC is due a drop. It's been hanging around a while but other alts are busy working on this and that and Litecoin mostly rides (and I have no problem with this) on being the silver to the gold. It has so many investors it will not die, in my opinion, but will it remain second, maybe not. However this drop is a far off prospect. If you think Litecoin is going soon you don't know how to see the long view.

Offline Ace of Wands

  • Newbie
  • *
  • Posts: 14
Re: Why isn't LTC interesting?
« Reply #11 on: December 17, 2015, 01:00:02 AM »
If you think Litecoin is going soon you don't know how to see the long view.

I can't wait to see the long view. In my rear view mirror. Bitcoiners have always said, Bitcoin doesn't need a "silver". And I didn't listen. Truth is, I loved Litecoin so much there before July that I actually went into the pump in pretty good shape, having bought below .07

But my problem? I believed. I got chumped in the dump, because I thought Litecoins were worth $9. After the dump, I still believed, because block size and speed and Bitcoin scalability and having an altcoin to trade with, and having two blockchains that can talk to each other, and a thousand reasons, I believed. And I held on to my Litecoins through four more months of the Long Take.

That's what hurts. Litecoin is the coin that punishes and takes from those who believe in it.

I hope Litecoin dies. But if it doesn't, I still don't have to play. Anyone who holds Litecoins is hoping for the next big overprice pump, so they can sell their litecoins to the next round of suckers.

Fuck Litecoin.

Offline pbleak

  • Full Member
  • ***
  • Posts: 311
Re: Why isn't LTC interesting?
« Reply #12 on: December 17, 2015, 02:25:00 PM »
If you think Litecoin is going soon you don't know how to see the long view.

I can't wait to see the long view. In my rear view mirror. Bitcoiners have always said, Bitcoin doesn't need a "silver". And I didn't listen. Truth is, I loved Litecoin so much there before July that I actually went into the pump in pretty good shape, having bought below .07

But my problem? I believed. I got chumped in the dump, because I thought Litecoins were worth $9. After the dump, I still believed, because block size and speed and Bitcoin scalability and having an altcoin to trade with, and having two blockchains that can talk to each other, and a thousand reasons, I believed. And I held on to my Litecoins through four more months of the Long Take.

That's what hurts. Litecoin is the coin that punishes and takes from those who believe in it.

I hope Litecoin dies. But if it doesn't, I still don't have to play. Anyone who holds Litecoins is hoping for the next big overprice pump, so they can sell their litecoins to the next round of suckers.

Fuck Litecoin.

You are projecting here. Just because you are hoping for a pump so you can sell it does not follow that everyone who holds Litecoins will. If you invest with a steady hand pumps mean little. Perhaps you can profit here and there, but ultimately you will have diversified in *various* interesting innovations with the hope that one or two of them will provide a great return. If you think Litecoin is worth 9USD then you will hold until then. Otherwise you don't have trust in something you invested in and the fault is entirely yours. Maybe you could consider another coin that you think is going to do well and cut your LTC losses and invest there. If it works out then it should repay those losses. Of course, you may lose it all. That's trading (no risk, etc.).

Offline Ace of Wands

  • Newbie
  • *
  • Posts: 14
Re: Why isn't LTC interesting?
« Reply #13 on: December 17, 2015, 03:22:31 PM »
You are projecting here. Just because you are hoping for a pump so you can sell it does not follow that everyone who holds Litecoins will.

Fuck your projecting. You didn't even read what I said.

I BELIEVED. I didn't sell for FOUR MONTHS after the dump because that is how much I believed in Litecoin as a value holding proposition. Litecoin FUCKS people who believe and rewards people who dump. I finally dumped at .01, and NEVER to go back.

I looked for value in Litecoin. And Charlie, and a bunch of you, were teaching it. But it is BULLSHIT.

The value in Litecoin is one thing only: to take people's bitcoins who make the mistake to believe in Litecoin.

I hope Litecoin dies, and never does this to another generation of new buyers.

It's just plain nasty.

Offline pbleak

  • Full Member
  • ***
  • Posts: 311
Re: Why isn't LTC interesting?
« Reply #14 on: December 17, 2015, 05:38:36 PM »
You are projecting here. Just because you are hoping for a pump so you can sell it does not follow that everyone who holds Litecoins will.

Fuck your projecting. You didn't even read what I said.

I BELIEVED. I didn't sell for FOUR MONTHS after the dump because that is how much I believed in Litecoin as a value holding proposition. Litecoin FUCKS people who believe and rewards people who dump. I finally dumped at .01, and NEVER to go back.

I looked for value in Litecoin. And Charlie, and a bunch of you, were teaching it. But it is BULLSHIT.

The value in Litecoin is one thing only: to take people's bitcoins who make the mistake to believe in Litecoin.

I hope Litecoin dies, and never does this to another generation of new buyers.

It's just plain nasty.

You need to get out of trading. If you listen to evangelists on a message board and that sways you then do something else.