Because it's a shitcoin? It adds nothing of value now that scrypt asics are here, so I'm honestly surprised it's even worth what it is.
This.
LTC advantage has been advertised as GPU resistance first, then ASIC resistance and now what ? Cmon guys, you have to wait for LTC to be added to MtGox so the price can go to the moon. Wait, this wont happen anymore
Yes this. LTC is a shitcoin since it dilutes bitcoin valuation (of which everyone should care about since it's the market leader) without bringing anything new to the table. It's purely gold-rush mentality right now.
LTC ASIC manufacturers, even more so than Bitcoin get rich by 'aging' (burn in) on ASIC setups with ability to scale huge farms and expand rapidly, (10's-100's of gigahash) - then they sell to greedy end customers who buy assembled hardware at up to 1000's of percent markup, then they can dump at almost any price without a loss and laugh as the rest struggle to break even.
Now anyone investing today in LTC expects increase in litecoins market cap too! lol!!. Based on what infrastructure? even sustain is optimistic. a 5x increase in LTC price will be a 1.5 billion $ market cap. do you know how much fiat inflow required for this? That's fiat that will be diverted away from BTC, and since BTC falls. LTC falls, and then home miners with bills to pay need to dump more and house of cards comes tumbling down.
I perfectly understand many of you are tired of altcoins; there is one created every day and what is their purpose? Right, to pump it, sell it, done. Next.
While I'm in a hurry right now, I could give you literally a list of all the good things about Litecoin; things this 'altcoin' does different than those shitcoins.
Anyway, a ton of these shitcoins are based on Litecoin. It must do something right, don't you think?
While I'm in a hurry right now, I could give you literally a list of all the good things about Litecoin; things this 'altcoin' does different than those shitcoins.
Anyway, a ton of these shitcoins are based on Litecoin. It must do something right, don't you think?
Litecoin was a clone coin of Fairbrix. which was clone of tenebrix and so on. Public did not know POW was broken. and devs are lazy, many shitcoins take the easy route by copy pasting litcoin codebase or using coingen and tweaking few params, add few gimmicks, maybe call it texascoin or squirrelcoin. bam. instant profit.
LTC offers nothing of value over BTC.