Bitcoin Forum

Crpto::Stocks just opened up Litecoin support today, and I thought it could be a worthwhile idea to start a Cognitive Sub-asset on this exchange called "Cognitive-LTC". The contract would be similar to Cognitive's, and the main change would be mining Litecoins as opposed to Bitcoins, obviously.

Because GPU mining is currently the most efficient way to generate Litecoins, this is the way we will go about doing it. The main reason for creating a Cognitive sub-asset is to create an instant establishment of trust that Cognitive has already acquired, therefore increasing investor confidence which boosts value.

I plan to create the asset within a week. I appreciate any questions, comments, and objections :)

-Garrett

Update:

Main Cognitive-LTC thread is here: http://forum.litecoin.net/index.php/topic,568.0.html

Dividend payments seem to be slowing.  Why wouldn't new related business be folded in Cognitive?

I like this!

In most cases they would, but GLBSE has no Litecoin support as of now.

Right now I am debating on which exchange to use.

Our options are http://litecoinglobal.com/ and https://cryptostocks.com/

I'll create a poll.

https://www.litecoinglobal.com/security?s=LTC-GLOBAL (https://www.litecoinglobal.com/security?s=LTC-GLOBAL)
If you buy some litecoinglobal stocks then you benefit from people buying ltc mining stocks  :)

You cant do that on cryptostocks.

+1

And here's the poll:
https://bitcointalk.org/index.php?topic=102175.0

What would be the quickest, easiest method to get litecoins on GLBSE?

As the site developer, shouldn't you have the best answer?

I wouldn't think that it would be an extraordinarily difficult thing to do.

Also:


(4 days)

 :-\


I suggest a partnership with litecoinglobal, perhaps an equity swap.

Then you can let him develop it separately and not pile more on your plate  :)

At this point glbse setting up ltc support would seem like the big kid taking someones lunch money :D

Hmmm, I guess that was lazy.


Well, actually thinking about it, would need to have litecoind running and the blockchain, deposits/withdrawals and be able to pay dividends with litecoins. But having the ability to buy other assets on GLBSE (i.e. using the market) would be a lot more work and not something I'd go so far as to support.

It would mean that the share would be bought with bitcoins and make payments with litecoins.

Couldn't there be a sub market just for LTC?

There could I suppose, but as I mentioned anything like that is going to take a good bit of work to implement, which means time.

How big IS litecoin? I've never really had more than a passing look at it.

Small, relatively, but growing. You know what, I find myself agreeing with this:
Perhaps you should stay focused with Bitcoin, while LitecoinGlobal maintains the Litecoin exchange. This would probably be for the best.

Fair enough. I'll point my scarce resources elsewhere.

If you folded this into Cognitive and it was reflected in the dividends then I would just buy more Cognitive.

If you need to exchange LTC for BTC I hear btc-e is nice.

Just a friendly suggestion.   :)

I appreciate the input, and would be totally game for that method, but if we want to expand largely we would put too much negative pressure on the BTC/LTC market.

Spread your buys and sells between btc-e and Vircurex.com

I definitely would like to maintain one asset, but I also want the best for Litecoin. Driving the price down in Litecoin's current state would not be a difficult thing to do with a large scale mining farm converting all earnings to BTC.

I don't think this is a good idea.  Just because you mine some asset doesn't mean you have to pay in that asset.

Please elaborate. This cannot hurt the original Cognitive at all.

By creating multiple businesses it give me less confidence in you as an investor.  I'd rather see 1 strong business with growth and expansion then the multiple businesses your creating which all compete for your time.

You know what, I totally agree with that. Now I'm probably going to scrap Cognitive-LTC. (No I'm not being sarcastic :P)

I want Cognitive to be hugely successful. Right now it is the largest publicly traded Bitcoin asset offering equity, which is absolutely awesome. Right now the main reason preventing large scale expansion is the introduction of the ASIC. As of now, BFL is the only way to go if we want to invest in more hardware and still remain largely profitable when ASICs are released.

I'm glad you agree and thanks for listening.  I just purchased another Cognitive share.   :)