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Does anyone else see this cycle?
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Step 1: I want litecoins

Step 2: Look Everywhere for Litecoins. other than luck, there seems to be almost no reliable source to purchase litecoins for any currancy other than Bitcoins.

Step 3: Fuck it; I'm going to mine litecoins.

Step 4: 'Hey, can someone help me set up a mining rig?'

Step 5: everyone "DONT MINE LITECOINS, ITS NOT WORTH IT."

Step 6: only options left are to beg, pay 20-30% above current market value, mine in the hopes that value will increase before difficulty increase.

Step 7: re-evaluate at step 1.

I was also looking today and couldn't find a place to spend litecoins. I mean, yeah there are places to spend litecoins, but most of those places seem to be obscure one-offs (hunting gear, honey candy, sex toys, gaming sites, mining equipment).

I'm doing my damnedest to drink the kool-aid here guys, I understand that Litecoins are probably the best option for crypto-currencies available. but if it's difficult to get, make, spend - it will be as valuable as dirt. Yes, we are early in the life of Litecoins, but bitcoins paved a HUGE way into the world, why isn't it easier to get litecoins to be the same thing?

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Posted
11 years ago