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[BI] 'Litecoin Is Silver To Bitcoin's Gold'

post #1 of 4
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Quote:
You may be wondering whether there were ever any mainstream users in the first place. But Charlie Lee, a former Googler and MIT grad, recognized such an audience did exist. In 2011, two years after the birth of Bitcoin, the former Googler and MIT grad decided to create a version of Bitcoin that would make it more accessible. He called it Litecoin.

"I think Satoshi [Nakamoto, Bitcoin's pseudonymous creator] is great, and Bitcoin is awesome," Lee said in a recent interview with BI. "I didn't fix Bitcoin. I just made small changes that made [Litecoin] a little bit better." Litecoin is not the only digital currency to have mounted Bitcoin’s virtual coattails. Coinmarketcap lists about two-dozen ones who’ve seen their prices increase in the past few months. But Litecoin appears to be the first among these secondary equals, something reflected in its $282 million market cap — 5x greater than the next largest currency, Peercoin.


Source


Current value of Litecoin is $20-$23, up from $2 a month ago. thumb.gif
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post #2 of 4
What is driving the value of these currencies up lately? Seriously.
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post #3 of 4
Quote:
Originally Posted by HanSomPa View Post

What is driving the value of these currencies up lately? Seriously.

Increased public awareness + good old greed + market manipulation.

Market is still relatively small (esp. for alt coins) meaning people with money (for example, those who already made a lot on BTC) can start pumping value of coins, which than continues on its own, since people rush in to buy whatever coin is on the rise.

Its really quite crazy. Too bad I am completely incapable when it comes to anything remotely financial (making money with money) mad.gif .

But I still make good living, so let's not complain! In any case, it will be interesting to see what happens in the future. Some people are making mad cash right now.

EDIT: Chinese are also contributing, since they are buying like crazy.
Edited by Tomalak - 11/27/13 at 2:44am
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post #4 of 4
FFS

Apparently, I am also incapable of editing my posts. Sorry frown.gif
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Overclock.net › Forums › Industry News › Technology and Science News › [BI] 'Litecoin Is Silver To Bitcoin's Gold'