I like the fact that LItecoin has a known creator, Charlie Lee, (also the head of Coinbase.com) He's a cool dude and all about liberty. I see upside potential because you just know that coinbase will be adding litecoin down the road since the creator is head of coinbase.com I also like the fact litecoin has faster confirmations than bitcoin.
Rumor is that a few minutes ago, BTCchina has added Litecoin. Price spikes up (from $14 to $22). If this is true and Huobi follows soon, then we might have a Chinese "bubble" coming.
Yeah I see the spike this morning, Good news for LTC, Like I said before, coinbase will very likely add it too since the CEO Charlie Lee created litecoin. I don't know when but i'm betting it happens soon.
I'm with you on this, bitcoin can in essence become the reserve (as gold is to USD) for all other cryptocurrencies. I just had a discussion last week with a buddy of mine that I've known for a very long time. He's mining litecoins and exchanging them for bitcoin. Since BTC has value and backing (I wouldn't quite use "trust" yet until the Mt. Gox story settles out...) it makes sense as the backing for the other c-currencies. The volatility is still a bit of an issue and the ability to pump/inflate/dump the currency is still an issue as well. Time will tell.
before the breakout last fall the ratio was about the same as it is now (0.025). then LTC went from sub $2 to $49 and a ratio of over 0.05 at one point. now it is back to where it began ratio wise. my suspicion is that it has tended to hover around the 0.025 ratio but I haven't validated that. part of the big move was speculation of LTC being traded on other venues like Coinbase (LTC founder went to work there) and Gox and part of it was a huge push from Max Keiser. LTC was an entry into crypto for many people. in the next move up, LTC should outperform again. it is a good way of adding some BTC to buy at this ratio and sell above 0.05. I know that it is what I'm planning to do again.
They're both gay, and will eventually be banned. US.gov invaded Iraq & Syria for attempting to switch to gold backed currencies in lieu of petrodollarz, and all digicoins will suffer the same fate if they ever become significant for transactions that go beyond black market paraphernalia .