Being long and very bullish on LiteCoin I find this a bit disappointing. Any thoughts why LiteCoin continues to lose value compared to Btc? As a store of value I think it is second only to Btc. As a payment system I rank it #1. This weekly chart is quite scary. Hoping this year it puts in a bottom and reverses.
Нi bro! All will bee good! do not panic and be calm, we have magical support from which we will begin our journey to Mars))
the dominance of bitcoin is going down, which means that the alt season is approaching
Great, magical support I like it. Appreciate the chart. Question is can Ltc beat Elon Musk to Mars.
Seems so much money chasing DeFi projects not enough left over for Ltc.
In my opinion LTC is being oppressed and scooped up by the rich. Im holding on to my bag of LTC because I see it going to 10k easy when the dust is settle.
I must admit, it hurts very much seeing my BTC balance falling like a rock. It’s super hard not beating myself up for converting some BTC to LTC around 0.006, thinking this must be the bottom. I’m still better than keeping my money in my local fiat, and that’s the only reason I don’t feel completely dumb. But it hurts so much, when your BTC disappears, while its price is flying. I think this is the price of speculation. I admit, that I was greedy, and I am paying the price.
I still love LTC, I think MWEB is a great idea, but I’m not hopeful that I will ever see that BTC again… Learned my lesson.
Sidenote: I’ve never sold a single lit. One reason is taxation, the other is that it might not be the best store of value, but is still a good one.
What’s the advantage of LTC over BTC? AFAIK transactions are faster, cheaper, and now with MWEB, they are private. Despite that I don’t think it’s a promising crypto in the long term due to stronger competition in these areas. I wont name them for respect to the LTC forum.
It’s not an advantage, but I really think that LTC compliments BTC well. Their Lightning networks and codebases are compatible, and in every day usage LTC seems more reasonable to me. I look at BTC as gold and as an ultimate store of value and for me LTC is more like money. Furthermore, the tunnel between these two is very simple. LTC’s role as money is even more clear if MWEB is activated.
And the competition is not too much as I see… These new-coming coins are really about making some people rich. LTC avoided this because it came early and fairly.
From my point of view, for LTC to work as digital cash it would need to solve some issues: low transaction fees, improve speed and ease of use. Which I don’t think will happen due to a lack of resources for development. LTC AFAIK doesn’t have a treasury or a DAO to invest and incentivize new development. They are dependant of volunteers and donations which is been outcompeted.
do you think someone will buy such a not promising coin, even in such volumes? the screen was made by me on the Huobi exchange on 03/12/2021. So don’t worry, there will be a fiery show soon
Should I find you similar data from BSV a few months ago? I’m sure it’s out there. This is not a good reasoning. They are speculating, too. At this volume when LTC goes back 0.004 or 0.005, they might sell to cash in on the BTC. Nobody sees the future. Our future selves will.
That’s encouraging data.
I don’t know how accurate the data is on this site. Showing 10s of millions of dollars worth of Ltc being moved on Ltc blockchain to unknown wallets.
They hold roughly as much in BCH and ETC. Should I seriously consider this as a reliable way to make decisions?
Anyway, I hodl through. For me mentally this is much harder now than it was at 20 USD.
I cannot believe in “magical supports” and stuff. Every coin that went bust had such “supports” . Technical analysis is useless. Why not horoscopes?
I believe in LTC as a technology and what the Foundation is doing, and I hope they will find more developers once MWEB is activated and LTC differentiated itself enough from the rest of the market.
Ok, let’s see who is right…
I’m a scientist. In my world, it doesn’t work like that. Just because LTC will pump, it doesn’t make your theory of magical support or market analysis right. More like the other way around. If there was ever a coin, which had a similar magical support that did not work out, your theory is automatically wrong. Science is harsh with theories. There are numerous biases, though…
I also hope, I will do fine in the end, that’s why I’m still stacking if I can.
what proof as a scientist do you need to believe in magical support?
Here is the best science I can offer… or rather data and data modeling
It is just BTC, but the fundamentals of a deflationary PoW open source cryptocurrency are the same for LTC
I always liked the anaology of litecoin being silver to bitcoin being gold. It might not seem so right now, but at the fundamental level I feel this is true.
That is an interesting question. The problem is that market behaviour is not an exact science, especially because market theory often affects the behaviour itself. This results in a very stochastic system. Of course, historically it will be true, that there is only one absolute minimum on a graph, so every new local minimum is likely to be at a higher value than the previous absolute minimum. Duh.
Also, rationally, I believe LTC is more valuable compared to BTC than your magical support. So I agree, I expect an upturn. But in the end the market decides. And markets often don’t care about the past. Also, market actors can be super dumb.
I have decided that I go for the tech, I dropped everything but BTC and LTC and I hope that the world will recognise their value, too. These are money and they are liquid and LTC is on its way for being even fungible. Monero is also great, but not convenient at all for me. But I really like the project. I’m not interested in the rest any more. I stopped trading, too, my BTC → LTC trades around 0.0065 were my last trades. I simply stack and hodl. Our beliefs might be different, but our behaviours are very similar, I think. We will also explain the upturn differently. That’s it. I hope you trade succesfully. I was never good at it. But I’m freaking great at hodling. It just hurts a bit now.
BTW, I liked the interview posted in another thread. Charlie said that going too deep into the all-in on LTC territory is bad for the heart. Yes, I agree.
Thank you very much, I completely agree with you. Everything will be LTC)). We are at the start of a new era, new accounting, new opportunities. It is very encouraging that Elon Musk is not burned at the stake like Giordano Bruno. I am not a scientist , but I really hope that technology will save humanity…