'Litecoin Is Silver To Bitcoin's Gold' — Here's What That Actually Means

In the virtual-currency market Litecoin holds all the promises to become the second most popular.

- Miners don't need expensive ASIC's (yet). Every one with a PC and a good video-card can still mine Litecoins. (also those in third world countries).
- Miners hoard Bitcoins, but spend Litecoins much more easily.
- The large exchanges (Gox, BTCchina, Coinbase) have plans to join BTC-e (who already offers Litecoin trading). And if they do, the large Payment-processors like BitPay can offer Litecoins as well.
- Litecoin will be used as THE "arbitrage-transporter". Currently there are huge price difference for Bitcoins on all mutual exchanges, but once they offer another virtual-currency like Litecoins, it will be possible to move them quickly around arbitraging all exchange prices to one stable market price for Bitcoins.
- There are a lot more virtual-currencies offering the same points above, but Litecoin has by far the most market cap and first mover advantage.

It will take at least one year before Litecoin will be as popular as Bitcoin. And at that time it's price could be theoretical equal to 25% of Bitcoin's price (but 10% is more likely). If you understand that it is currently only 1.5%, it means that Litecoin has a huge upside potential.
I bought some Litecoins at $2 each... currently they are $11...In one year from now I hope to see $50.
 
hhhmmm.... It's going a bit too fast now.

Only 12 hours ago I wrote Litecoin's price is $11, and now we are running to more than $18....
Saw some very large trades (in total 21 million traded today), so I guess some large fund-managers are stepping in (I wonder....).
 
Quote from bwolinsky:

This appears to be a pump and dump on et.
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Pump yes, but dump I don't know (yet). It's a fact that Litecoin was hugely undervalued (compared to Bitcoin).
At the moment I write this, its price is $22 and on 2.5% of Bitcoins-value. If expect profit taking around 3.6% ($31).
 
well, I sold 10% of my original investment at 30 dollar last night, covering the whole investment (so the 90% of my coins I still have, are free of any costs..... let them ride ... up or down it doesn't matter).

Current price is 40 though, and already on 5% of Bitcoins price. This is going too fast indeed. Only 11 days ago it was $4 and now 1000% profit is even for the virtual-currency market too much. Be prepared for a volatile ride.
 
Quote from just21:

I read that is not safe to wire money to btce. How do you get money there?
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Use the digital-currency networks ! We don't need banks anymore :)

If you are in the USA, then it might be best to use Coinbase for the first-step. Buy some BTC there, then transport those to BTC-e, and exchange for Litecoins.
 
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