Litecoin, Bitcoin’s Fourth-Biggest Rival, Is up Nearly 5,800 Percent This Year

Either segwitt + lightning are adopted and people have a rather convoluted payment utility or people use a coin that better meets that use case.
Bitcoin cash has the low fees of yesteryear bitcoin.
I still view litecoin as bitcoin testnet and dont understand its appeal. To each their own.
 
nysmo said:
He said it costs $25 to buy a $4 coffee with bitcoin. That is ignorant, and there is no point in talking to someone like that who clearly hasnt done the first inkling of research into bitcoin, fees, how it works, etc. He saw a forum post like this somewhere else and latched on because it tickled his troll bone.

As for the future if bitcoin, yeah it is turning more into an investment like gold than actual currency since people are just trying to hoard it. Personally I think it is certainly way overvalued and it cant be used as currency in its given turmoil, but I'd like to see it as such one day if things can settle down.
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Well as of the time of this posting, the fees literally are $25:

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

These are likely to get higher as bitcoin grows in value. Regardless of where he got it from, the transaction fee is really the big weakness of bitcoin at the moment.
 
nysmo said:
Honestly I do not see a future in multiple cryptocurrencies. BTC does everything anyone needs it to do. Universally acceptable & has actual value. All of these other coins exist solely to capitalize on BTC's rise, and the only reason anyone buys them is to try and "win big" and cash out for USD as you put it. BTC investors hold on with the possibility that BTC becomes a legitimized currency in the eyes of the world that can be used to buy and sell things on a regular basis, not just dump for whatever fiat currency your homeland uses.
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Crypto is the world of butt hurt and regrets.

I just looked back through my emails and I have 4.5 LTC frozen on Virocurex... I guess they got hacked. :/
 
DeathFromBelow said:
Not unless the seller happened to take cryptocurrency as a form of payment. Between the withdrawal limits and long processing times its difficult to actually convert large amounts of cryptocurrency into dollars.
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wait, wtf.
I thought I could insta-cashout with Coinbase ?

and then use the cash to buy a house
 
Retronym said:
Either segwitt + lightning are adopted and people have a rather convoluted payment utility or people use a coin that better meets that use case.
Bitcoin cash has the low fees of yesteryear bitcoin.
I still view litecoin as bitcoin testnet and dont understand its appeal. To each their own.
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I transfered $15 worth of bitcoin yesterday and had a $10 network fee. Got $5. Totally unusable in my opinion.
Bitcoin cash, transfered a few dollars and the network fee was 1 cent.
Transfered a few dollars in Litecoin, network fee was 63 cents.

I realize that Bitcoin and maybe litecoin have more volume but there is no way bitcoin has 10000 times the volume nor BCH has 63x.
Say what you want, BCH is a major improvement and might actually be able to be used one day if the transaction cost doesn't go through the roof at high volumes.
 
Bitcoin cash is bitcoin as far as I'm concerned.
Everyone is ignoring how stupid bitcoin legacy has become because there's so much money in it.
I've also noticed the user base at reddit and similar has gotten progressively less informed.
All my bitcoin legacy trades are short term now, its obvious what is going to happen.

I would seriously suggest everyone start divesting a bit. The utility isn't there anymore. It's slow, expensive and stupid.
It's a captured hill.


I've been in bitcoin since Mt Gox fwiw.
 
Yes, 95% of the people on Reddit are very novice (hey look at me, I just put in $100 and expect to be a millionaire) and have little to no idea how the technology works.
I only got it in the Summer. I'd have made a lot more money but Coinbase has such low cash limits that it takes forever to get a lot of money into crypto.
Alts are growing so fast recently, there is no need hold on to bitcoin (so I don't). I buy them only to buy alts. There are possibilities of forks that may be something one day but I am not too interested in them.
Bitcoin is pretty bad and just about every coin out there is better than it however people are stupid and still put money into it because they think they will get ROI, they are unaware of the technology.
I was expecting BTC to grow 20% this weekend because of CME but it barely grew at all. Maybe its days are numbered. And that is a good thing. People can take their money out and put it into ADA, XLM, ZEN others that have a better future.
 
You had to do international wire transfers to japan. Dwolla worked at times when the rules weren't constantly changing. I rage quite after a while it was such a pain getting money there.
They had some sort of server reset once and lost my money. This is before the main hack. They were truly awful.

Then coinbase came along. I can remember when the coinbase guys were uploading pictures of an office with about 4 or 5 ikea desks and some monitors.
 
I ask because I am curious in knowing the price of bitcoin when US citizens could first buy it off an exchange. I checked out what it cost when coinbase launched and it was in the low 200s. I heard that at one time bitcoin was worth cents but I really doubt you were able to buy it at that time. Or were you?

And I just did another btc transfer out of coinbase right now. Surprisingly, took about 30 minutes to clear and not hours like it has been for the past few weeks. Cost me 16.30 in network fees. I mean, the transfer was .33 btc so it was nothing compared to the gross amount but I think that the network fee is always the same regardless of the amount you send. Yep, BTC sucks.
 
It was sub-$5 when I personally entered Mt gox. I didn't look into mining which came earlier.
 
Staples said:
I ask because I am curious in knowing the price of bitcoin when US citizens could first buy it off an exchange. I checked out what it cost when coinbase launched and it was in the low 200s. I heard that at one time bitcoin was worth cents but I really doubt you were able to buy it at that time. Or were you?

And I just did another btc transfer out of coinbase right now. Surprisingly, took about 30 minutes to clear and not hours like it has been for the past few weeks. Cost me 16.30 in network fees. I mean, the transfer was .33 btc so it was nothing compared to the gross amount but I think that the network fee is always the same regardless of the amount you send. Yep, BTC sucks.
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When it sells at coinbase do you just get the price of the BTC when you clicked the sell button, or what it’s worth at the time it actually clears?
 
nysmo said:
Are you using prioritized sending? I transferred $65 and had to pay something like $4 and it took about an hour.
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I am sure I'm using the most expensive option. Transferring out of Coinbase so I have no say on which method gets used. Glad to hear it can be lower using a lower priority.

Archaea said:
When it sells at coinbase do you just get the price of the BTC when you clicked the sell button, or what it’s worth at the time it actually clears?
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If you buy at Coinbase, you are locked into the price they quote you at time of sale. They hold the coins from your account until they can ensure that the ACH transfer is legit.
 
Staples said:
I am sure I'm using the most expensive option. Transferring out of Coinbase so I have no say on which method gets used. Glad to hear it can be lower using a lower priority.
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Using coinbase to facilitate BTC transfers is not how it's supposed to be done. Coinbase is an exchange. You buy bitcoins from there and then transfer them to a private wallet, thats it. You dont want to keep your coins on there paying their exorbitant prices for anything.

Staples said:
If you buy at Coinbase, you are locked into the price they quote you at time of sale. They hold the coins from your account until they can ensure that the ACH transfer is legit.
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You can also use debit cards with coinbase after some history with them for instant transfers.
 
nysmo said:
Using coinbase to facilitate BTC transfers is not how it's supposed to be done. Coinbase is an exchange. You buy bitcoins from there and then transfer them to a private wallet, thats it. You dont want to keep your coins on there paying their exorbitant prices for anything.


You can also use debit cards with coinbase after some history with them for instant transfers.
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How do you sell btc and get cash besides using coinbase? What fees are there if you don't buy or sell?
 
nysmo said:
Using coinbase to facilitate BTC transfers is not how it's supposed to be done. Coinbase is an exchange. You buy bitcoins from there and then transfer them to a private wallet, thats it. You dont want to keep your coins on there paying their exorbitant prices for anything.
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I hear you. I only transfer out of Coinbase to my own wallet or other exchanges. I try to minimize the transfers too to save on network fees.
 
mnewxcv said:
How do you sell btc and get cash besides using coinbase? What fees are there if you don't buy or sell?
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It is true you will need to use Coinbase (or another exchange) to convert to USD, at least if you want to do it seamlessly through a trusted 3rd party. Technically you could send me your BTC and I could send you PayPal if you wanted dollars. You could make a trade in the back parking lot of a wal-mart with the rest of the BTC crackheads. So all in all there will be some fee's higher than others depending upon what you're using BTC for. What has everyone up in arms right now though is they are associating exchange based purchases as representative of a typical bitcoin purchase, therefore you get the $25 cup of coffee example circulated. People are still stuck in this mindset that you need to trade BTC for USD to do anything with it, and while that may be true at the moment that is purely circumstantial. The goal is not to trade but to buy things with BTC. You pay 0.000812715 for a cup of coffee instead of $2.75
 
nysmo said:
Honestly I do not see a future in multiple cryptocurrencies. BTC does everything anyone needs it to do. Universally acceptable & has actual value. All of these other coins exist solely to capitalize on BTC's rise, and the only reason anyone buys them is to try and "win big" and cash out for USD as you put it. BTC investors hold on with the possibility that BTC becomes a legitimized currency in the eyes of the world that can be used to buy and sell things on a regular basis, not just dump for whatever fiat currency your homeland uses.
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Until Bitcoin has transactions as fast as Litecoin or security features of DASH and Zcash, I do not agree with you. Ultimately it may be a few coins that do last long term. I see so much fear uncertainty and doubt all over the net about crypto, it's a wonder it hasn't crashed to zero from sheer ignorance of facts.

Bad, outdated or just plain wrong info about coins or Bitcoin will surely kick up the dust, just like any other tech battle that has ever existed. You are certainly entitled to your opinion, except when looking at the actual technology, there is a case to be made that other coins are actually better than Bitcoin. Remember the winners write history.
 
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Staples said:
I am sure I'm using the most expensive option. Transferring out of Coinbase so I have no say on which method gets used. Glad to hear it can be lower using a lower priority.


If you buy at Coinbase, you are locked into the price they quote you at time of sale. They hold the coins from your account until they can ensure that the ACH transfer is legit.
Click to expand...

Well, when you buy at Coinbase, you're not really buying at the marker price. You are paying 5-10% above the market.

I just transferred the money to gdax from the checking. Took about 7 days, but was totally free. Of course, it may not be the best option if you want to buy it now.
 
Charlie Lee LOL

Screenshot-2017-12-20 Litecoin price, tweets, and conflict of interest • r litecoin.png
 
Kdawg said:
man. If I just put in $20000 one year ago, I would have a nice damn $1M house. for the price of a car.

Dear God, or Santa
Please give me a time machine
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lol, if that is the extent of your imaginative reach for a time machine, you would fail having one of those as well.
 
Retronym said:
Bitcoin cash is bitcoin as far as I'm concerned.
Everyone is ignoring how stupid bitcoin legacy has become because there's so much money in it.
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You realize bitcoin cash is just Chinese controlled bitcoin right? It literally exists to do market manipulation. They love manipulating markets for their own gain :ROFLMAO:
 
I think it is an interesting day for Lee to sell all his Litecoin. He is so humble, you just have to love the guy.

Since the start of this thread, I have totally changed my positions.

I have no BTC and will stay away from it if possible. All these $15-20 network fees I have been hit with have made me angry,

Litecoin is still probably fine but I have none. I am not sure Bcach is any better but I do hold a 15-20% position on it.
 
ETH to me has a ton of interest due to it's ability to function as something other than a currency.
 
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