From | Litecoin is a peer-to-peer open-source cryptocurrency.  Since its integration into the virtual payments universe in 2011, litecoin, like most of its digital currency cousins has experienced its ups and downs. Now that 2014 is coming to a close, many are wondering what the new year will hold for the currency platform, and whether or not it will be able to continue to hold its ground.

On various litecoin forums, the verdict appears to be mixed.  For example, a poll conducted on in August of 2014 asks, “On January 1st, the price of Litecoin will be…” and it allows voters and readers to fill in the gaps.  The poll gave a wide price range; below five dollars, between five and ten dollars, between 10 and 15, and finally ending with above 20 dollars.

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  • LarryLix

    Now that the initiators of the pyramid scheme have extracted their millions nobody wants to spend the effort to hype cryptocoins up into another frenzy.

    Since all cryptocoins are based entirely on hype and public frenzy, it would look like the cryptocoin era is done. The sucker crowd that will buy into a PONZI scheme craze is mostly saturated. Until we get a new generation of children that aren’t very good at math this is unlikely to happen again.

    In the end my guess is that only one coin will survive. Likely that will be bitcoins as people know the name. The constant creation of a new coin for scammers to ride the wave of a new coin has almost killed the market similar to being bombarded with too many vaccine adverts everywhere you go. It makes people realise that the whole thing may not be in their best interest and alerts the public to the underlying huge profit generating industry hoping to pry your wallet open one more time.

    Let’s face it. The cryptocoin scammers have overdone it and wrecked it for the ones without the money hoping to ride the tails of the genius behind the PONZI schemes. This is no different than any other stock market or marketing schemes.

    The coins are expensive to mine and restricted to the giants, the cybercoin era has had too many “hacked” scams ripping people off and demonstrating that cryptocoins just cannot be trusted in an aspect. Why would Joe Public just not stick to real and established currencies that are so much cheaper to manage. I can’t see buying a chocolate bar at the corner store and not knowing what the cost was when I wake up tomorrow.

    I hope you have not purchased too may LTC at the $20 mark or BTC at the $600 mark during the last effort hypes.

    As a wise man once said “Fools and their money are easily parted”. Another stated, “there is a sucker born every minute.”

    Nice dream, nice idea, A few got rich and the money came from…..?

    • Michael C

      Sounds like you got ripped at Mt. Gox. It’s a cynical point of view, but I could see why.

      People! Now is the time to buy! | 2015 | All about crypto currencies