Can do and is less risky, but you of course never know how things turn out. If Ethereum does a complete 180 and somehow manages to get their product on track, it'll have great momentum because of the already established brand. So maybe hold on to a bit of ETH just to spread your investments, never good to go all-in on one product.
So you're saying there's a chance? Lol.. I hear ya.. it would be a tough pill to swallow if it blew up but so is LC atm when it comes to ROI. I think I'll let it ride and try to pay attention as much as possible. This thread is one that I am following throughout the day so the more input, info.. the merrier.
LTC is a good bet and wise investment atm. If you believe in both products, there's no reason to only hold onto one, so better spread. Just always have to know that ETH is an extreme risk long-term, so you should never stay away from ETH news as long as you're holding it.
In my mind, I cap LTC's potential at around 1% of Bitcoin. It's currently trading for higher, but that's what I would personally expect from it in the future. It's stated goal is not to overtake Bitcoin, it just wants to pick up the scraps that BTC can't handle.
Read my answer for every crypto, anyone giving you any kind of price prediction is full of crap and just guessing or trying to shill you. Every single prediction in the past has been terribly off when it comes to crypto and absolutely no one has a clue how this will develop. The trend is positive, but the market can indeed go to shreds at any moment, no matter how unlikely. @LongTimeFan is correct, Charlie Lee is honest and always stating that LTC will always be bitcoin's little brother and trying to profit from this. TL;DR Absolutely no one knows, but the trend is positive and it is one of the most certain crypto investments right now.
I like Charlie Lee a lot as a representative of the coin/company -- seems very upfront and honest about his company and thoughts. Easy to have confidence in someone like him. I agree in that I would put LTC on the safer side of a crazy dangerous market -- with the caveat that it too (like all others) can crash at any time. @SatoshiLite for those who want to follow on twitter.
I heard a side comment that Buterin will be getting away from Solidity. As far as all of the hacks, I think its a dangerous game to tie funds up in a product that has not proven itself. This goes for Ethereum, Neo and EOS. Investing thousands of dollars into Cryptokitties is a very very dangerous when the platform is still in early development. Additionally, NEVER keep crypto in a hosted wallet. If you dont feel comfortable keeping it in cold storage, keep it on the exchanges. If you're getting significant gains, pay someone to educate you.
Depends on the amount of $ you have invested, many online wallets are pretty safe for the everyday user and either pretty secure or very unlikely to be hacked when you have little money.
Yes, but at the point, why not just keep it on an exchange? At least there is some level of coverage in the event of a hack or loss.
Considering LTC's long term hold potential do you guys think it would be a decent idea to start mining? I already know the considerable risk involved but if LTC can stay on solid long term growth mining 4-5 coins a month and holding could be a nice potential profit no?
I defer to others who have actually mined -- I briefly looked into mining and determined it would not be worth the $ for me. BUT -- I don't think the idea of mining 4-5 coins a month is realistic with one mining rig? Maybe it is and I'm talking out of my @ss. I would blindly guess your return would be less than 1 LTC per month.
My recommendation is to research mining completely. I would not recommend mining with a couple cards. Go big or go home. I notice an uptick in new miners when coins really start to take off. IMO that is a bad time to start. Mining LTC a few months ago would have been a much better idea because the difficulty would be much lower and you're no longer competing with all of the new comers. If you have an idle rig, look at mining some other coins that are not hugely popular at the moment and just hold the coins.
Depends on the exchange, many of these are abroad and very hard to get a hold of legally, at least to my knowledge.
I'm not thrilled with the up-front costs of the rig and I think it would take too much time to break even, however the potential of holding 40-60 coins after a year is appealing if the growth rate is there. I have access to rural land where power is cheap. Simple logic says it is much easier to just take up-front rig costs, invest them now and hold.
Did you analyze the energy needed/costs and resulting profits in-depth? I've seen a ton of people online who grossly miscalculated and made a loss, so you have to be 100% sure this works out.
I've done preliminary analysis and the numbers don't amount to much. The whole operation would need to bank on LTC growing substantially over the course of a year, but at that point what is the difference between just investing and holding? At the current rate which I'm assuming is based on some kind of mass average and therefore has a fairly large standard deviation, it would take 9 months of mining just to recoup the initial start-up costs. That isn't time aggressive enough for me. Good points made about a large amount of people wanting to hop on mining while a new alt is thriving. Better to pick a lesser known alt with some long term potential IMO. I suppose this is all really just pissing in the wind though. The LiteCoin FOMO is real.
Mining on speculation is not always a bad thing. What you dont want to do is have under powered equipment and never get credit for contribution.
Someone I know has allegedly has made a whole lot since the ICO on something called Populous. @Yung-T heard of this?
