Quote from: El Dude on May 07, 2014, 07:40:02 AM

Quote from: Amph on May 07, 2014, 07:35:13 AM

Quote from: El Dude on May 07, 2014, 07:30:35 AM

Ok everybody calm down , El dude is here to put the trolls in their place.

Quote from: Amph on May 07, 2014, 07:03:26 AM

because asic are dumping like crazy

yes , because bitcoin asics "dumped like crazy" and the bitcoin price went down when asics came out , you fool. The opposite happened bitcoin went to $1200 when asics came out.

ehm no btc went to 1200 because of china, not because of asic, when KNC miner are dumpic 1k btc a day

tell me why people should buy litecoin, when there are 300mh/s coming that will rape it so hard(the first one will rape it for sure)

not to mention that now litecoin is even more useless because there is no more difference between scrypt and sha256, both are centralized shit

so your telling me ASICs making BTC harder to get had nothing to do with the rise to $1200 ? lol

Litecoin was never designed to be asics proof and no coin really is , unless you have a low marketcap and no one cares enough to develop a asics for it. You think gpu weren't centralized ? like the two 7950s you had in your basement made a difference to the 10 000 gpu farms out there.

Let me set you both straight so there is no confusion here.

1) bitcoin exploded in price because the Chinese realized they could move their assets out of the country without their own government knowing hence the reason property all across America has been getting scooped up by the Chinese for the last year. Greater preservation of wealth exists in America (that's not saying much btw). It's just happens to be luck that ASICs came out in this same window but ultimately the same amount of coins are generated everyday regardless of how quickly difficulty rises. Therefore, price increase was not due to ASICs.

2) if your expecting litecoin prices to spike immediately as ASICs enter the mining pools you are drinking some kind of funky coolaid. ASICs for sha-256 exploded and the difficulty chart looks logarithmic where as the technology for scrypt ASICs will grow linearly and the overall hash rate will be a much slower growth as technology continues to develop.

Personally, I like litecoin as an investment for the long term but realistically it's going to be a couple more years before prices start moving anywhere. Buckle in boys cause its gonna be a slow ride........"to da moon"......that phrase makes people sound like idiots.

CT$