Litecoin (LTC)

Discussion in 'Bitcoin and Cryptocurrency' started by newbie23, Sep 12, 2014.

  1. newbie23

    newbie23 Member

    Please remember I am speculating and it is possible I could be wrong.

    Last year the conditions are the same as they are now. LTC went up 5x against BTC. The time is coming again.

    LTC is going to the moon:

  2. newbie23

    newbie23 Member

  3. Nitrust

    Nitrust Member

    what is LTC? I have oticed than bitcoin was was ~660 like 1-2 months ago, and now it is 470ish

    I dont have a shit ton of money in bitcoin, but this could be an investment opp right?
  4. newbie23

    newbie23 Member

    this is definitely an investment opportunity for BTC
  5. newbie23

    newbie23 Member

  6. newbie23

    newbie23 Member

    LTC is Litecoin. It is a copy of BTC by Charlie Lee. Charlie used to work for walmart then google, he quit his job at google and developed litecoin. He did not premine it nearly as much as BTC was pre mined. It is also a faster coin. Think of it as the silver to gold. There are roughly 4x as many LTC as there are BTC.

    When times are good you buy gold, when they are bad you buy silver.

    PPC would be like copper.
  7. HuckingFuge

    HuckingFuge Member

    what is up with NAUT coin? I got that right?
  8. SmallWoody

    SmallWoody Member Supporter

    Anyone one know where to get litecoin? as previously stated i got kicked from coinbase for being cool. and need something safe
  9. Evom1

    Evom1 Member

  10. BigRed91

    BigRed91 Member

    I’m a newb at this crypto currency stuff I just can’t wrap my head around it. Can you guys break it down for me and tell me how exactly you would buy items from someone with litecoin.
  11. Sk8man101

    Sk8man101 Member

    You do really buy with any crypto curancy. It's more like trading a certain amount of crypto for a product.
    In order to trade it anyonomously you must first acquire some bitcoin, then transfer it to another account not associated to you or the person you mean to trade with, then send it to the person you want to trade with.

    Obviously this explination is surface level shit^
    There is lots of reading you can do on here and other places to help you.
  12. sinewave3

    sinewave3 Member

    Do you care about being anonymous/traceable transaction?

    If not, buy litecoin on Coinbase, transfer to your wallet, then send x amount of litecoin to the vendor’s address/wallet.

    If you are in person, many wallets can display a QR code and then you can scan that and put in the amount, and hit send. If it’s online, you will probably just get a long string of numbers and letters.

    This is basically how most cryptos work.

    If you want to be (or try to be) anonymous there are more hoops and I would say don’t use Coinbase to buy from.
    BigRed91 likes this.
  13. BigRed91

    BigRed91 Member

    So when u buy litecoin from coinage and transfer it to a wallet is ur amount subject to change or does it stay that amount until u send it to someone else
  14. sinewave3

    sinewave3 Member

    The amount of litecoin is the same, but the value in dollars changes.

    Look at it like gas or gold: sometimes you buy a gallon of gas and it’s cheap, sometimes more. Like now it’s about $3 for a gallon, but in 08-09 it was like $5 a gallon. Same amount of gas, but the price fluctuates from supply and demand.
  15. BigRed91

    BigRed91 Member

    So prolly good to buy it right when I wanna use it. That way when I send it it’s still enough?
  16. sinewave3

    sinewave3 Member

    Yep, that will prob work! But I would make the account and get a wallet in advance, so everything is ready when you want to buy. Some of these accounts can be a pain to set up, and it can take a while to get the hang of it.

    Last thing you want is agree on a price for an order, then be stressing cause your 48 hours to pay is running out while some new account is getting verified.

    I like having a mobile wallet on my phone. Super handy and they seem to be a bit easier to use than some of the desktop wallets or hardware wallets. Just be sure to write down the secret words it gives you when you set the wallet up and never give those to anyone else. And you can make or have as many wallets as you want.
    BigRed91 likes this.
  17. BigRed91

    BigRed91 Member

    Thanks man I appreciate the help. Any specific wallets u recommend?
  18. sinewave3

    sinewave3 Member

    No prob!

    On the wallets, I use Bread wallet on iOS, but its bitcoin only. Looks like there is a similar Loaf Wallet for litecoin, but never tried it. I downloaded like 4 wallets and liked it best for BTC. Coinbase has their own app too I have as well.
    BigRed91 likes this.
  19. FiEnD

    FiEnD Member

    I want to ditch BTC for litecoin. Who should I use? Kracken legit?
  20. All you do is ask the recipient of your currency(litecoin) for his wallet address. Once you have the recipient wallet address you start the send process from your wallet. Find the send section, type the address you want to send, choose the amount to send and hit send.

    If you are the receiver, just find your wallet address and share it with whoever you want to receive currency from. Each coin have its own wallet address numbers, in other words you can't send Bitcoins to a Litecoin address.

    Basically the first step is to know what currency the transaction is going to be made and then go from there.
    BigRed91 likes this.