Litecoins.

I'm starting to get interested in these. They seem to be heading the same way BTC did some years ago, when from $4 a piece jumped to $20, then to $100+. What's causing a big boom about LTC lately is that with the release of ASIC miners, most GPU miners out there wont be profitable anymore, so people will switch to a different crypto-currency.

Now I'm seriously considering investing in it, but i'm not sure how much of a safe bet it might be. I am afraid I will end up just losing money rather than earning any, but an old friend of mine had the luck of investing in BTC back then, and he is now a seriously rich mofo, and i'd like to be one like him lol.

So, what do you guys suggest? What's your opinion in Litecoins and it's future?

 

Mhm, it was going to boom when MtGox started adding it but MtGox are in a law suit atm so they ain't interested in adding anything atm and just sticking to BTC so it won't rocket yet. Still Litecoin would be better that Bitcoin. Since Atlantis opened, the Silkroad of Litecoin it has started gaining value.

 

My buddy has been heavily investing in lite coins and has made about 10,000. The only problem is due to the fluctuation in price it's hard to know when to buy or sell.

 

Highly doubt 10K was made with investing into Litecoins, mining yes not investing.

 

Yeah unless your friend bought a shitton when they were worth like pennies and sold em now it would be quite difficult to have 10 grand in profit unless as Fende says, he mined it.

Regardless of that, my question stands. When would it be most wise to invest in them? Partly I feel now would be good since because of the law suit with Mt Gox, they haven't risen as much. But after that shit is settled, if Litecoins do start being implemented, price should start climbing up...

As well with the ASIC miner deal, whenever more of those are out, many current GPU miners would be likely to switch over to Litecoins.

It's just a bit unclear what to do, i'm quite interested in them but not sure as to when it would be wisest time to invest in it.

 

I was thinking about investing around 1K into them and just holding on but I am unsure if they will pick up or just keep getting pumped and dumped. There are payment processors for Bitcoin but nothing really like that for LTC so not really sure. Only site that really accepts them at the moment is Atlantis and a few others. Worth a try.

 

Exactly what I had in mind... I remember in around 2011 BTC went from around $4 to $20 quite fast, and from there on it never stopped rising. It's possible that this happens as well with LTC, perhaps not as huge of a jump as BTC, don't really think it would ever hit high 200's, but the thing is that it still might start up a new hype and rise in price, obviously generating profit.

The thing is I have no idea when it would be best to put the money in. Should we wait to see what happens with Mt Gox lawsuit...? Or perhaps take advantage of the situation to buy them for even cheaper?

So many shit to consider >.<.

 

Yea, with the lawsuit against Gox they can't be bothered to change anything as they are too tied up in possibly loosing 75M USD. We won't see Litecoin on there for a few months. If Silkroad and BMU started taking Litecoin then it would pick up or sites like BitPay would add Litecoin but we won't see it for a while. I still may throw a few hundred bucks at it and see where it rides but I don't have much hope for Litecoin. It's more of a pump and dump kind of thing, and it seems to just piggy back on Bitcoins price.