Bitcoin too expensive... should we buy Litecoins now?

It's a bubble, it will pop anyway, but Litecoins are much cheaper now (in the 30's), while Bitcoins are way above 400 $...

For the sake of speculation: could Litecoins have the same potential as Bitcoins? Could Litecoins become similarly expensive over 1-2 years time?

Should we buy Litecoins now to re-sell later?

What do you think of this - as of a speculative short-term investment? :/

 

Bitcoin has popped numerous times. Take a really good look at the historical graph.

Have both. Bitcoins will seem cheap nowcompared with what is coming, IMO.
Litecoins will rocket if Mt.Gox starts trading them.

I hope Bitcoin/Litecoin is more than just an investment to you but hey.

 

You think Bitcoins are cheap now? Hmm... 400+ $?

Litecoins cost about 4 $...

Here's the Litecoin live price:
http://currentlitecoinprice.com

Watch this video:
[youtube]http://www.youtube.com/watch?v=m_S8QB7Rc90#t=636[/youtube]

This blog post is also interesting to check out, the author believes the Litecoin bubble is bursting:
http://btcinsider.wordpress.com/2013/04/09/litecoin-bubble-8th-of-april-2013/

It is still above 4 $, but from what I've hear it was 0.06-0.07 $ at the beginning of this year.

Here's a chart from www.ltc-charts.com:


And this below too..., which says Litecoin has doubled within a week!
http://litecoinblog.org/litecoin-has-doubled-in-value-last-week/

If it has doubled, I suppose interest has soared very fast. So it will go down a bit. Just like Bitcoin had those tiny little bubbles that had popped only for a larger new bubble to blow up!

And that price doubling has happened during this month. From about 2 $ to well over 4 $...

Litecoin is a bit different, but might be "the next Bitcoin"? Worth playing around, investing a bit in it?

Suppose it drops below 3 $, but probably even below 2 $, one could buy 200 % more. If we're really on top of the bubble, then sub 3 $ Litecoin could follow.

This source says Litecoin has a more efficient algorithm than Bitcoin:
http://www.coinjockey.com/litecoin-experiences-meteoric-rise/

I don't know by what means it would be more efficient, I'm not a programmer. Perhaps someone on the forum can explain.

What do you think about Litecoin being the next big investment?

 

Tiny $1 to $28 approx - I'd love to see Bitcoin repeat that this time around. This time around there is more volume but far less magnitude percentage wise.

 

Yes, tiny! Compared to the huuuuuuuge bubble that's forming right now!

Bitcoin will most likely pop, so I reckon that Litecoin could be the next Bitcoin on the rise...

Of course: we can't know for sure whether Litecoin will have the potential to rise that high. But Litecoin is still in the early phase, it's in the "cheap phase".

 

BTC went from $1/BTC to $28/BTC (approx)

The dip before this run up according you was at about $66/BTC.
For BTC to have Bubble of the same magnitude as the $1/BTC to $28/BTC run, BTC will have to reach $1848/BTC from it's starting point of $66/BTC.

$66/BTC x 28 = $/BTC1848

 

I don't understand what you're saying about Bitcoin.
I was talking about Litecoin. It costs 4.16 $ right now:
http://currentlitecoinprice.com

Bitcoin costs 467 $ right now:
http://bitcoinity.org/markets
(at the beginning of 2013, Bitcoin cost about 20 $: http://i1.wp.com/boygeniusreport.files.wordpress.com/2013/04/bitcoin-chart.jpg?w=618)

(by the time you'll read this, the price will change, of course...)

So, Litecoin is dipping right now - might fall from 4 $, as the bubble looks like it's about to pop.

But no-one says Litecoin can't go from 4 $ to 400 $ or higher. That's 100x the investment.

We don't know how low Litecoin can go now. After the dip ends, it will increase in price.

 

So what is best way to buy lite coins?? Might be worth having 100 away, is there a better way to go about acquiring them

 

Not many accept Litecoins at this time and one should be able to re-sell them at a very good rate.

 

But why buy LTC when there are +50 other digital currencies to choose from?

 

It would have to be the second best known one. Therefore you would assume the next one to grow...

 

Unless you can find someone willing to sell LTC directly to you (e.g. another SS member), your best bet is probably to buy BTC through somewhere like Coinjar, then set up an account on BTC-e.com, send your BTC to BTC-e.com, and exchange BTC for LTC. Not efficient (you will lose a percentage with various fees and buy/sell spreads), but it works.

 

Urgh Thanks,
sounds Like I have a lot more reading to do..

 

It would be interesting to revisit this post in a year or so to see whether BTC was indeed "too expensive".
It was "too expensive" too - as in insane - in the last run as well.

 

I wasn't aware of https://btcmarkets.net, so thanks for pointing them out! The current bid/ask prices (and spread) for LTC are excessive - A$6.00/A$6.50 In comparison, the current bid/ask prices for LTC on BTC-e.com are US$4.13/US$4.14 - about A$4.44 at spot exchange rates.

Put it this way - if I put $500 into BTC at Coinjar, and went the BTC-e.com route, I'd have about 100 LTC at the end. If I put $500 into BTCMarkets, I'd get about 76 LTC at current ask prices!

 

http://i.imgur.com/4TFFPml.png

 

check out PTS

 

That coin jar is handy. Cash deposit suits as well.
So if I ordered $500 worth and deposit tomo.
Are the numbers safe to keep in Coinjar alone? Or is printing them off the go, as Wiki sort of says.

 

Ive used coinjar after the first deposit I usually get my bitcoins within the hour. I wouldn't trust any site to hold my bitcoins. Regardless of how good intentioned they are they could still be hacked or shutdown by the government.