Post
Topic
Board Economics
Re: $42,000 dollars to buy Bitcoin and Litecoin - Time to buy?
by
thoughtfan
on 14/01/2014, 18:26:42 UTC
First apologies to the OP for turning this into a Bitcoin v. Litecoin battle. It was not my intention though I knew it likely once I recommended a much lower ratio of your investment be put to Litecoin.

The reason Litecoin will be offered for direct exchange is because it has a more attractive price point to the average consumer...
By 'price point' do you mean they are cheaper per unit even though the 'units' themselves bear no relation to those of Bitcoin making a direct comparison of value almost impossible?  I'm not saying people don't buy for this reason - especially having talked to a reasonably intelligent-sounding man with a pretty responsible job who said he'd bought Litecoins for his son because by now Bitcoins were too expensive (per unit).

So I accept it is reasonable to expect Litecoins to continue to be bought 'because they're cheaper' and if so will have a positive influence on its price.  Yet my confidence in Bitcoins is based on people seeing real value in it as a groundbreaking technology with huge promise whereas if I went with the above I'd be basing my confidence in Litecoins on people's stupidity!

...It's going to change. I feel certain of it.

OP, and everyone else; I would also be wary of any advice given where the reason given by the advice giver for their confidence is 'feeling certain' or that they can 'feel it in their blood' or 'in their bones' etc.  It is not a rational way of investing for oneself, let alone to part with money on the basis of someone else's 'inklings'!