Hacker Newsnew | past | comments | ask | show | jobs | submitlogin

Do you think it's wise to invest in Litecoin right now?


I don't know. It might be worth a gamble, I'd certainly put it as 'risky'! It's very difficult to say. Bitcoin looks like it'll stay high for a while at least (talk of atms, even), and interest in bitcoin seems to bleed over. Crypto-currencies seem to be getting a lot more mainstream attention, and LiteCoin is the biggest non-bitcoin one, with several advantages.

Personally I'm mining as that seemed like a fairly safe bet, as if everything comes crashing down I still have a computer, and I could afford the cost. At the current prices & difficulty, I'm getting ~$30/day. Sell half and keep half, and then if it shoots up in price I'm quids in, if it goes down then people have still helped buy me a fast computer.

I think it's worth it, but consider it a gamble rather than an investment, and only stick in money that you're willing to lose (not just see drop in value, lose). Set some points at which you'd like to sell, and try and get your stake back. You could win big.

Don't do what some guy on reddit did, which was take 30k in credit cards and loans he couldn't afford and stick it in bitcoin. Granted, it seems like it should have netted him about a quarter of a million, but don't be drawn in by stories like that, people also get rich on the lottery.




Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact

Search: