Litecoin price should be at $10,000

[AbbotAle]

It takes more than just luck, its takes the science of economics and law of supply and demand.

Agree. And right now the supply is obviously far greater than the demand for Litecoin hence it's not too off its all time lows against BTC.

But if you think Crypto is like the stockmarket where many competing coins are viable, stick to that thesis until proven wrong (which may or may not happen).

But your analysis seems more hope to me than substance. Yes, you might be right, but it's far better/safer/less risky to buy on a proper rising market with momentum/wind behind you (at much higher prices) than attempt a hero trade which is attempting to buy the low in a tenacious bear market.

 

[Andre@Krypt0]

Agree. And right now the supply is obviously far greater than the demand for Litecoin hence it's not too off its all time lows against BTC.

But if you think Crypto is like the stockmarket where many competing coins are viable, stick to that thesis until proven wrong (which may or may not happen).

But your analysis seems more hope to me than substance. Yes, you might be right, but it's far better/safer/less risky to buy on a proper rising market with momentum/wind behind you (at much higher prices) than attempt a hero trade which is attempting to buy the low in a tenacious bear market.

Bitcoin is in a bubble just like Tesla at 1500 P/E. I am still a buyer but at least I will admit it. All I here on this forum is bullshit, people touting BTC going to moon or going to zero.

 

[AbbotAle]

Bitcoin is in a bubble just like Tesla at 1500 P/E. I am still a buyer but at least I will admit it. All I here on this forum is bullshit, people touting BTC going to moon or going to zero.

Many aren't hyping anything.

They're long BTC, having secured their personal real estate on the blockchain (via a set of UTXOs) and are looking to hold for years (not everyone of course).

The only thing they're interested in is seeing how Bitcoin develops in the future. Price to these sorts of people is not that relevent at the moment having been through multiple bull and bear markets.

 

[narafa]

The price of any asset must be based on the economic laws of supply and demand, anything else would be an inefficient market.

The total supply of BTC is 21,000,000 and the total supply of Litecoin will be 84,000,000. Bitcoin is approximately 1/4 the supply of coins of Litecoin.

Bitcoin price as of this writing is $40,000 and Litecoin is $170. If demand was in equilibrium the true market price of Litecoin should be around $10,000.

Once institutions do the math , this bet will be a no brainer. Bitcoin demand is generated from International buyers base. Litecoin, being more US centric, since created by ex-Google employee has not reached the same level of popularity or notoriety, once US financial institutions pick up on it, it will be off to the races.

So you are putting an $840B market cap mark on Litecoin? Well, anything is possible, but I see this as a highly improbable scenario. Reason is it's very difficult for Litecoin to achieve such level of adoption & network to achieve such a valuation.

I would say a $50B valuation would be a stretch for Litecoin, which is about 5x from where it is right now.

Besides, LTC still suffers from the same drawback of Bitcoin which is PoW and it's large electricity consumption. I don't see a bright future for PoW based cryptocurrencies honestly unless they change the PoW to something else, which I believe will eventually happen.

 

[AbbotAle]

Besides, LTC still suffers from the same drawback of Bitcoin which is PoW and it's large electricity consumption. I don't see a bright future for PoW based cryptocurrencies honestly unless they change the PoW to something else, which I believe will eventually happen.

The top dog at Stone Bridge Asset Management ($10b AUM) begs to differ re POW and BTC.

It's probably better to listen to these sorts of people rather than Message Board posters, including me of course!

https://www.microstrategy.com/conte...loads/Stone-Ridge-2020-Shareholder-Letter.pdf

 

[S2007S]

10,000 hahahahah

These cryptocurrency predictions are just hilarious

 

[longshort]

Much of the confidence trick in cryptos is just in the naming. Listen to this:

XYZ"coin" is a crypto"currency" stored in digital "wallets".

Neither is true. It's not a coin, not a currency, doesn't pay taxes, isn't legal tender, isn't used as money in any significant capacity, and isn't stored in wallets. It's an intrinsically worthless collectable.

And 'should be' priced as such if fundamentals were to matter. Clearly not the case now but some sense of reality may kick in some day. It almost happened in the past with several >90% drawdowns in BTC. Add a confluence of other factors (higher interest rates, tough times, crypto classified as gambling) and we may get there.

 

[Trader Curt]

You are making such a definitive statement as if this already set in stone. Dont worry if you were astute your BTC should have already made you 100x.

Well it's true, everyone knows Bitcoin is king right now and thats why it cost the most. I know this is so simple for you to understand, but that's why no other crypto even comes close. I hate it too, because I'm hoping some of the alt coins I'm holding will get some recognition like Bitcoin, but that's the way it is right now.

 

[AbbotAle]

.

Neither is true. It's not a coin, not a currency, doesn't pay taxes, isn't legal tender, isn't used as money in any significant capacity, and isn't stored in wallets. It's an intrinsically worthless collectable.

Jack Mallers would beg to differ as he's just dropped a massive bomb on global payments, and it's only possible because of the Bitcoin technology and what's being BUILT ON TOP OF IT.

American Bob can now send $1/$10/$100/$1000+ to English Tony who receives sterling with almost no exchange risk and basically free, and within a few seconds. Probably within 1-2 years this will capture the vast majority of personal payments spinning around the world.

https://jimmymow.medium.com/announcing-strike-global-2392b908f611

 

[longshort]

Jack Mallers would beg to differ as he's just dropped a massive bomb on global payments, and it's only possible because of the Bitcoin technology and what's being BUILT ON TOP OF IT.

American Bob can now send $1/$10/$100/$1000+ to English Tony who receives sterling with almost no exchange risk and basically free, and within a few seconds. Probably within 1-2 years this will capture the vast majority of personal payments spinning around the world.

https://jimmymow.medium.com/announcing-strike-global-2392b908f611

1. A kid in his twenties announcing various startup ideas on medium.com since 2016. Among his first ideas was:

"Provably fair online gambling with zero fees and zero limitations, powered by Bitcoin"
https://jimmymow.medium.com/zero-ho...-and-zero-limitations-powered-by-27edd22fd025

You can make a guess how that went.

2. Did you bother to watch the hour-long video you linked? You realize how this guy comes across? I wouldn't trust him to transfer a penny.

But yeah, since it's Bit"coin", "within 1-2 years this will capture the vast majority of personal payments spinning around the world". Right.