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Litecoin sub .016

O

oblox

[H]ard|Gawd
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Joined
Nov 27, 2013
Messages
1,203
Talk about a slow death. I guess 28,800 new coins daily is just too much to sustain price at this point. Definitely wouldn't want to be taking delivery of those scrypt ASICs.
 
It's basically another coin now, it has nothing going for it. I dumped most of my holdings around a month ago.
 
Exactly. The second Litecoin was on board with supporting the development of scrypt asics (by choosing not to remain decentralized) was when it lost what potential it had. Now you have a coin that offers nothing over BTC. I'm sorry, but 4x BTC's coin supply and 1/4 the confirms isn't enough to sell me. Further, BTC has first-mover advantage, larger adoption and brand recognition, and most importantly, infrastructure/capital investment.
 
i hold a modest amount -- (50)

and the ratio of BTC/LTC doesn't really concern me.

If I want to cash out - its always LTC->BTC->USD.

As long as LTC/USD is good, that's all that matters. how many BTC you get ouf of it really doesn't matter when you are just using it as a temp cash out mechanism.

I'm not patient or smart enough to day trade, and try to profit off the swings in the market. I will admit LTC has been boring and kinda meh lately. Tempted to cash out and just kinda bumble around with my 15GPU farm on some x11 or x13,.

11,000 LTC difficulty -- yeah it can suck my dick.
 
Wish I could find someone locally to take my GPU farm, 88MH on X11 across 13 rigs... $7500. Living in Wisconsin sucks.
 
oblox said:
Wish I could find someone locally to take my GPU farm, 88MH on X11 across 13 rigs... $7500. Living in Wisconsin sucks.
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All AMD?

If you've got any 750Tis in there, I might be interested in some 'dat.
 
Parja said:
All AMD?

If you've got any 750Tis in there, I might be interested in some 'dat.
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With the exception of 4 PNY 750ti and 5 eVGA 750ti SCs, yes, all AMD. But really, I'd prefer to just sell the whole damn thing and not have to worry about parting it.
 
oblox said:
Talk about a slow death. I guess 28,800 new coins daily is just too much to sustain price at this point. Definitely wouldn't want to be taking delivery of those scrypt ASICs.
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Well, I'd still take a Scrypt ASIC... to mine something else with. There's still plenty of new scrypt shitcoins being released during any given week, so hey might as well put it to good use without all of the heat and wasted power of a GPU farm. Heck, even just putting that hash power up for rent would probably be an even better idea and with a bit more of a guaranteed payout.

But no, I would not drop $10K on a new scrypt ASIC.... I would probably consider it if they were an absolute steal... like less than $1000 or something for a KNC Titan. But LTC would probaby be the last thing I would use it for.
 
Yeah the LTC/BTC ratio continually drops. I wished I would have traded all over to BTC when it was higher. I think i'm just going to sell all for btc now. This was a huge loss holding LTC for me.

Everyday I watch the ratio and it's just slowly dropping. My wishful thinking of 0.25 BTC/LTC based on supply is just not panning out.
 
LTC is dead. Wait until the ASICS go full bore on it.. You haven't seen anything yet.
 
Mega666 said:
LTC is dead. Wait until the ASICS go full bore on it.. You haven't seen anything yet.
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It's more accurate to say Scrypt is dead, in general. Anyone who didn't fork will die to ASIC's. This isn't Bitcoin, there is no room for another ASIC player. Called this months ago.
 
I tried to make it a point to inform people running ROI calcs using the LTC difficulty 3 months ago that it was impractical to buy a scrypt ASIC. Truth is, there will be so many people selling whatever LTC they mine to try to pay off their ASICs that it's going to get real bad in the next couple months when more deliveries start taking place. Without a doubt, they are on the network right now (at least some), but when the end user has to worry about paying off his/her investment, that's when the real selling pressure will accelerate. It's bad enough that around 28.8k worth of new coins are mined everyday, but when those coins aren't being held and dumped for whatever value they are worth presently, it's too much from an inflation standpoint to maintain existing price levels.
 
izusaga said:
It's more accurate to say Scrypt is dead, in general. Anyone who didn't fork will die to ASIC's. This isn't Bitcoin, there is no room for another ASIC player. Called this months ago.
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Brilliant!
 
Guys, look on bitcoinwisdom on BTC-e... crazy selling going on. USD/LTC hit $2.12 on like 100xxx dump.
 
Hmmm... yet some people are still predicting this was needed to reset LTC and that it's going to skyrocket.
 
Carbon_Rod said:
Hmmm... yet some people are still predicting this was needed to reset LTC and that it's going to skyrocket.
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Whatever gives them hopes and dreams. The only altcoins that are going to be around years from now are the ones that offer true innovation over BTC... something that BTC can't afford to hard fork to implement. LTC, unfortunately, doesn't offer such innovation.

It's going to most likely get worse as more and more scrypt asics are delivered and people are worried about getting an ROI, let alone breaking even.
 
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