Author Topic: Why isn't LTC interesting?  (Read 5206 times)

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #15 on: December 17, 2015, 10:46:23 PM »
You need to get out of trading. If you listen to evangelists on a message board and that sways you then do something else.

Yeah, keep talking but you ain't pissing me off. I told you twice, I'm already out of Litecoin never to return.

I'm here to do my small part to warn others away, especially new people. Probably will do no good. But it feels good to say it, and especially to say it to you, with all your bullshit smugness.

I actually broke even in terms of BTC from trading, though that was through diverse trades and dumb luck. And in that two years, I learned. Litecoin runs a Long Take. I hope Coinbase never takes this coin, because it will really hurt a bunch of new people if they do.

I hope your scheme is drying up. I hope Litecoin dies like all the other cheap copy coins.

If it ever pumps up again I and a lot of people will try like hell to let the new people know to STAY AWAY from this con.

NASTY.

Okay, I got to say it. Thanks for your smug replies, they really helped my mood.

Out.

Offline pbleak

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Re: Why isn't LTC interesting?
« Reply #16 on: December 18, 2015, 09:38:20 AM »
You broke even. Well done super trader  ;D

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #17 on: December 18, 2015, 01:30:16 PM »
You broke even. Well done super trader  ;D

Took me a year and a half to get my bitcoin value back after the first time Litecoin chumped me in their Long Take.

And yeah, as I've pointed out, all I would have had to do was know they were shit and made 4x my bitcoins from the July pump and chump.

Or at least dump them at .015 for a handsome profit, if only I would not have believed in this coin.

You are right, I sucked as a trader, and bad as I was, I have reason to be proud I broke even. I have a feeling it went far worse for many traders.

"Litecoins are due for a drop" <--- you

No shit.

Offline Sukarti

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Re: Why isn't LTC interesting?
« Reply #18 on: December 18, 2015, 02:27:03 PM »
You need to get out of trading. If you listen to evangelists on a message board and that sways you then do something else.

Yeah, keep talking but you ain't pissing me off. I told you twice, I'm already out of Litecoin never to return.

I'm here to do my small part to warn others away, especially new people. Probably will do no good. But it feels good to say it, and especially to say it to you, with all your bullshit smugness.

I actually broke even in terms of BTC from trading, though that was through diverse trades and dumb luck. And in that two years, I learned. Litecoin runs a Long Take. I hope Coinbase never takes this coin, because it will really hurt a bunch of new people if they do.

I hope your scheme is drying up. I hope Litecoin dies like all the other cheap copy coins.

If it ever pumps up again I and a lot of people will try like hell to let the new people know to STAY AWAY from this con.

NASTY.

Okay, I got to say it. Thanks for your smug replies, they really helped my mood.

Out.

You got greedy, played the market on a pump and lost.

Somehow that impacts the technical validity of Litecoin and not your own greed driven idiocy?

Best of luck you are destined to lose over and over with that attitude.

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #19 on: December 18, 2015, 11:45:39 PM »
You got greedy, played the market on a pump and lost.

Somehow that impacts the technical validity of Litecoin and not your own greed driven idiocy?

Best of luck you are destined to lose over and over with that attitude.

I can see where I screwed up a decimal place. I bought below .007, and sold at .01 after holding and believing in Litecoin.

I didn't "lose", I "broke even" after two years of trading. But I said that.

My trades do not affect the technical validity of Litecoin. Litecoin's entire market scheme does that.

Talk about projection. "Your own greed driven idiocy." You lay bare the Litecoin con. Saves me work.

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #20 on: December 19, 2015, 12:25:30 AM »
The OP asked a question, "Why isn't Litecoin interesting?"

Because Litecoin pumps its prices periodically to ridiculous levels that make it cheap to mine and sell for more bitcoins than they could mine for the same work.

It runs a bunch of bots so there is always the appearance of trading, but what it's really trolling for are "greedy idiots" who deserve to lose their money because they don't understand the game. Those people buy at the stupid prices, and lose their bitcoins.

Eventually the price falls so far that hardcore Litecoiners can collect their coins back from the "greedy idiots" at a fat profit in bitcoins.

Then they run some variation of the pump and con again on a new round of "greedy idiots."

There is no "silver" to Bitcoin's "gold". There is Bitcoin, and there are various cheap copy coins with strategies to get bitcoins at the expense of "greedy idiots" who don't realize the copy coins are actually worthless except as a net to catch bitcoins in "trade".

THAT is why Litecoin is not interesting, and should just die.

It's a parasite.
« Last Edit: December 19, 2015, 12:39:17 AM by Ace of Wands »

Offline shyliar

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Re: Why isn't LTC interesting?
« Reply #21 on: December 19, 2015, 03:53:02 AM »
You're obviously bitter about your experience Ace of Wands. Fact is crypto currency is still a risk (including bitcoin). It would have been better for you not to take that risk. I viewed it as a hobby from the very start and didn't put more into it than I felt comfortable with.

A person only has to look into the limited amounts of transactions bitcoin currently allows to understand why litecoin has potential. Charlie Lee is a knowledgeable person in crypto space (not just litecoin) and always has very well thought out viewpoints. This link is to an article he wrote on transaction size limits and why it's dangerous to tamper with them.

https:[email protected]/eating-the-bitcoin-cake-fc2b4ebfb85e#.s9oynuw13

One of the biggest problems with cryptocurrency right now is adoption. In marketing there is a principle called critical mass. Unfortunately in the bitcoin community critical mass is difficult to achieve: I've read articles suggesting 99 percent of bitcoins are owned by 1 percent of enthusiasts. This lack of distribution is a big problem. Making matters worse is the refusal of some in that group in accepting other coins. They often show up here in the litecoin forum to express their negativity.

The fact is the larger the community the more likely mass adoption can be achieved. As long as these spats between communities continue to exist it makes the entire space look childish and unprofessional. No wonder many banks and financial institutions are investing in blockchain technology (independant of bitcoin and litecoin)with the intention of leaving us all behind.

It's not that Litecoin or Bitcoin is uninteresting. It's that in an effort to mark out territory the communities lack the cohesiveness to achieve full potential.

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #22 on: December 19, 2015, 09:58:14 AM »
You're obviously bitter about your experience Ace of Wands. Fact is crypto currency is still a risk (including bitcoin). It would have been better for you not to take that risk. I viewed it as a hobby from the very start and didn't put more into it than I felt comfortable with.

A person only has to look into the limited amounts of transactions bitcoin currently allows to understand why litecoin has potential. Charlie Lee is a knowledgeable person in crypto space (not just litecoin) and always has very well thought out viewpoints. This link is to an article he wrote on transaction size limits and why it's dangerous to tamper with them.

https:[email protected]/eating-the-bitcoin-cake-fc2b4ebfb85e#.s9oynuw13

One of the biggest problems with cryptocurrency right now is adoption. In marketing there is a principle called critical mass. Unfortunately in the bitcoin community critical mass is difficult to achieve: I've read articles suggesting 99 percent of bitcoins are owned by 1 percent of enthusiasts. This lack of distribution is a big problem. Making matters worse is the refusal of some in that group in accepting other coins. They often show up here in the litecoin forum to express their negativity.

The fact is the larger the community the more likely mass adoption can be achieved. As long as these spats between communities continue to exist it makes the entire space look childish and unprofessional. No wonder many banks and financial institutions are investing in blockchain technology (independant of bitcoin and litecoin)with the intention of leaving us all behind.

It's not that Litecoin or Bitcoin is uninteresting. It's that in an effort to mark out territory the communities lack the cohesiveness to achieve full potential.

You all seem to be focused on my experience. My experience was to learn a lot, break even, and get out of trading.

I'm not bitter about that.

I think Litecoin is BAD FOR BITCOIN. I got my first bitcoins stolen on MtGox, and we've all seen the two years of hell since. But it isn't MtGox that I think has been the worst for Bitcoin. It is Litecoin.

MtGox is accused of embezzling its funds with a long negative exponential take curve. This curve was hidden from the user base until one day it was announced the coins were gone. We still have not been informed what happened there, but we pretty much all knew we were stolen from and had to move on.

Litecoin ran a fast pump, and then a LONG SLOW TAKE right out in the open. Same thing -- a decreasing exponential loss curve in BTC/LTC and every holder of Litecoins watched their value disappear relative to Bitcoin for two solid years, and still ongoing.

During that entire time, they sold and sold and sold Litecoins to Bitcoiners at massively big mining profits to the Litecoin miners, who could "mine easier" with Litecoins and then sell them to "greedy idiot" Bitcoiners.

And to top it off, in July they ran another massive PUMP AND DUMP and then right into another LONG TAKE.

Litecoin adds 84,000,000 coins to Bitcoins 21,000,000? For what? For this parasitic Long Take.

Litecoin is far worse than MtGox. It is NASTY and has to go.

If it runs another fast pump during some future Bitcoin run up, and then sells at Long Take rates to an unsuspecting new crop of Bitcoiners, maybe even on Coinbase? THAT WOULD BE VERY BAD FOR BITCOIN.

EVERY killer Litecoin trader is sitting on massive wealth IN BITCOINS gained from the parasitic pump and Long Take. And you all are collecting your worthless Litecoins back for another run at the next crop of noobs.

What scares me most is you probably can do this forever. But I wish you wouldn't.
« Last Edit: December 19, 2015, 10:20:19 AM by Ace of Wands »

Offline shyliar

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Re: Why isn't LTC interesting?
« Reply #23 on: December 19, 2015, 02:31:41 PM »
The history of bitcoin includes many pump and dumps, not to mention criminal activity. It might be suggested that since historically litecoin tended to follow the bitcoin price that the connection has been bad for litecoin (I'm not suggesting that).

I do agree that the loss in ratio in the last two years is disappointing. Although the increases to a ratio of 0.05 previous to that treated many miners who held to substantial wealth. I tend to think what we've watched is a gradual maturing of the markets with pumps occurring less often with smaller swings.

I'm of the view that the bitcoin and litecoin community should embrace each other. Joint marketing with a much larger user base will be more effective in increasing value for both coins. I even think there is room for a third coin with a much larger quantity of coins preferably introduced fairly (well advertised to miners c/w new hash function to initially encouraged GPU use) by a bitcoin/litecoin combined association to get a whole new generation of enthusiasts interested. A One, two, three punch. Adoption is critical. Insisting that only one coin succeed is counter productive. The larger the user base the more likely success will come quickly.

Feel free to continue with your single coin agenda. I'll continue to think that discourages adoption.
« Last Edit: December 19, 2015, 03:46:45 PM by shyliar »

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #24 on: December 20, 2015, 04:15:47 PM »
The history of bitcoin includes many pump and dumps, not to mention criminal activity. It might be suggested that since historically litecoin tended to follow the bitcoin price that the connection has been bad for litecoin (I'm not suggesting that).

I do agree that the loss in ratio in the last two years is disappointing. Although the increases to a ratio of 0.05 previous to that treated many miners who held to substantial wealth. I tend to think what we've watched is a gradual maturing of the markets with pumps occurring less often with smaller swings.

I'm of the view that the bitcoin and litecoin community should embrace each other. Joint marketing with a much larger user base will be more effective in increasing value for both coins. I even think there is room for a third coin with a much larger quantity of coins preferably introduced fairly (well advertised to miners c/w new hash function to initially encouraged GPU use) by a bitcoin/litecoin combined association to get a whole new generation of enthusiasts interested. A One, two, three punch. Adoption is critical. Insisting that only one coin succeed is counter productive. The larger the user base the more likely success will come quickly.

Feel free to continue with your single coin agenda. I'll continue to think that discourages adoption.

Good God, where to start. What discourages adoption is the LONG FUCKING TAKE of bitcoins from people who make the mistake of believing Litecoin has actual value. That's what hurts. THAT. LONG TAKE LONG TAKE LONG TAKE.

You: ". . . the increases to a ratio of 0.05 previous to that treated many miners who held to substantial wealth . . ."

IT WAS BULLSHIT. Insiders dumping their worthless litecons on unsuspecting noob bitcoiners who did not understand the coins were simply VASTLY OVERPRICED. THERE'S your goddamned "substantial wealth."

I am sure you are holding most of your "substantial wealth" in BITCOINS taken from "greedy idiots" who bought your stupidly priced litecons.

That is what I object to.

Why the fuck is this scheme necessary. We all know the prices are planned and set by a central group. WHY does this NASTY TAKE have to exist.

I see Nick and Adam don't appear to hate Charlie. But DAMN. This is a nasty scheme for those like me who are inclined to believe in good faith a value proposition.

Not for one second do I think the LONG TAKE is some market accident. WHO the fuck plans this shit. And why.

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #25 on: December 20, 2015, 05:22:14 PM »
Okay the answers to my stupid rhetorical questions are stupidly obvious. Thanks for letting me have my say without deleting/banning outright. I'm going now.

Offline Sukarti

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Re: Why isn't LTC interesting?
« Reply #26 on: December 21, 2015, 01:54:57 PM »

Litecoin ran a fast pump, and then a LONG SLOW TAKE right out in the open. Same thing -- a decreasing exponential loss curve in BTC/LTC and every holder of Litecoins watched their value disappear relative to Bitcoin for two solid years, and still ongoing.


You should really do your research. Litecoin has grown leaps and bounds since inception on the BTC/LTC ratio. It's not a one time pump/dump.

But hey I wouldn't expect you to do any actual research before trolling here. There are more updated graphics available but found this one quickly.

I find it funny that you can imply that bitcoin has value outside of speculation today but litecoin has no value. All crypto currency "value" is driven entirely by speculation.

Best of luck.

The full story Genesis to halving


Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #27 on: December 22, 2015, 01:08:17 AM »

Litecoin ran a fast pump, and then a LONG SLOW TAKE right out in the open. Same thing -- a decreasing exponential loss curve in BTC/LTC and every holder of Litecoins watched their value disappear relative to Bitcoin for two solid years, and still ongoing.


You should really do your research. Litecoin has grown leaps and bounds since inception on the BTC/LTC ratio. It's not a one time pump/dump.

But hey I wouldn't expect you to do any actual research before trolling here. There are more updated graphics available but found this one quickly.

I find it funny that you can imply that bitcoin has value outside of speculation today but litecoin has no value. All crypto currency "value" is driven entirely by speculation.

Best of luck.

The full story Genesis to halving


Well, by accusing me of not researching, and of trolling, you invite further discussion. That's just troll feeding 101.

I stand by every word I wrote, and yes I have done my research. Your chart shows that Litecoin does to Bitcoin what Bitcoin does to the dollar, which is to say it makes crazy price jumps and does long takes on Bitcoin.

But Bitcoin is better than the dollar, and is a good value proposition compared to the dollar in the long run for those who hold. I think you would agree with that.

But Litecoin is NOT better than Bitcoin. And it's a ZERO-SUM proposition AT BEST compared to Bitcoin in the long run. Sooner or later, or maybe already, it will have exhausted its growth potential relative to Bitcoin and, by Charlie's favorite analogy, hopes to settle into a gold/silver trading pattern forever.

People who paid 1200 USD for bitcoins, and held, will see their USD come back multiplied handsomely in time.

People who paid .05 BTC for Litecoins? Screwed. If Litecoin ever hits .05 again it will be another ridiculous pump to stupid prices and only suckers will buy them from all the desperate Litecoiners scrambling to dump their stupid coins.

Again I claim: these prices are planned in advance, and those who know what to expect will be the inside dumpers and all the other Litecoiners (if there are any) will take the ride right back down like they did in July.

Sure, .015 going into the "halvening" looked like a safe store of value. And I'll bet I'm not the only "greedy idiot" who held through that. Only I wasn't that greedy, or I'd have dumped. I was just an idiot. Litecoin is not for storing value. It's for taking bitcoins from suckers who learn this market moves opposite to trust levels.

A coin whose survival model is based on taking advantage of, and violating, people's trust probably can survive forever if it chooses. But it should expect to be hated.

Your coin is a dumpcoin, and a chumpcoin, and a takecoin. Your own chart shows it. Delete/Ban me if you want, but if you're going to keep talking to me, then you will be answered.

Your chart makes Litecoin look pretty advanced in price, while it continues to fall. I wonder who will buy at these stupid prices. I'm here to talk people out of it. Not so much trolling, as warning people. Even .008, even after the "halvening" makes it just like .004 would have been before.... could be bad for the buyer! Beware! This coin likes to eat the Bitcoin Cake.

Offline Ace of Wands

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Re: Why isn't LTC interesting?
« Reply #28 on: December 22, 2015, 01:48:55 AM »
Oh also, your chart doesn't show the current price of under .008 BTC, compared to its price on OPENING DAY of .01 BTC. Which immediately fell by 10X down to below .001 BTC, its first Long Take. But not its last. People who bought and held Litecoins on DAY ONE for .01 are currently . . . screwed.

So much for your tremendous growth potential.

As I've said, it appears the original geniuses of Bitcoin, including Nick and Adam, do not hate Litecoin. They're nice to Charlie on Twitter. I accept that. I'm sure a wealth transfer coin has its uses. Maybe always will. Those guys I respect. But a take coin it is, and that's borne up by your chart. EVERY PRICE higher than .08 going all the way back to DAY ONE was a take at stupid prices.

Thank you for letting me say my piece. I hope somebody benefitted by not buying Litecoins this week.

Okay don't feed the troll, or do delete/ban, and I'll go away.

Or tell me I didn't do my research again. I dare you.

Offline Sukarti

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Re: Why isn't LTC interesting?
« Reply #29 on: December 22, 2015, 05:26:18 AM »
Okay don't feed the troll, or do delete/ban, and I'll go away.

Or tell me I didn't do my research again. I dare you.

You can express all the discourse you please, there's no censorship of that.

Check back next Christmas. We'll see who was on the money.