Bitcoin Forum

https://mtgox.com/pdf/20130424_ddos_statement_and_faq.pdf?1

Great to see an official statement regarding this, finally put all the rumor talk to rest.

As the kids say nowadays.. rise chikun rise !!  ;D

this is awesome!!!

nice!

Yes... but this is an actual press release! There will be news articles on LTC going to Gox, there will be price increases... there's already a huge green candle on BTC-e.

BIG RED candle on BTC-e after a BIG GREEN candle LOL

ya lol <facepalm> most of it already got eaten up though!!  ;D 8)

Go to sleep, wake up and it's over $5.

this is the way traders operate. its actually healthy. it means the market is liquid and is trading on external events not just on hash rates and difficulty alone. if this keeps up crypto currencies will be main streamed in 5 years time.

What's the best ltc mining group to buy shares in right now? Been looking for a few days.

Can we have FC on it next?  :P

lol no we need Novascam...that deserves more attention  :P

ahhh man , dont have enough LTC yet , bank wire takes forever

Ship teh maneys.

http://www.dreamstime.com/big-ship-from-a-money-with-cargo-of-gold-ingots-thumb9667045.jpg

This is good news for all alt-coins. It proves that there is room for more than one alt. I'd wager that scrypt are going to be the dominant alts.

Well shoot, I just sold all my LTC :(

That is great news!

If it's anything like BFL we might be waiting for the 3rd coming of the Messiah... *sigh*

Gox has huge financial incentive to add LTC as quickly as possible as long as their current operations are going smoothly.

Gox is a for-profit company. They want to make as much money as possible, and adding a second crypto will do wonders for their bottom line.

They are also supporting Name Coin

I notice Namecoin was missing from the announcement, despite being in their API ticker and hinted at in some messages last week.


Is there any new, recent evidence of this, or any evidence that they will do Namecoin any time soon?

Mmmm, not sure if this is good news or not. MtGox trying to run before they can walk springs to mind.

Their unscalable system is at breaking point now. Let's add some more load!

Most people here seem to be bullish about this news, but I'm sure - like me - most of us are ltc holders.  Its difficult to predict what markets will do after seemingly positive news like this.  
It might be good to look at the negative effects Gox could have on ltc.  

- Because the ltc coin is less valuable then bitcoin they might attach a higher fee to trades and withdraws.
- Now we can get "Goxed" on more then just btc.  
- If they do like btc and make it free to withdraw ltc then that will kill vicurex and btce business and create even more dependance on Gox which isn't good.

I'm not planning ot move any coins there right away.
What do you all think?  All good news?  

People who have said this is bad for cryptos are extremely shortsighted.

With the ASICs coming we need a currency for new people to adjust to the idea of mining and understand that a central authority does not issue money in the future.

This lets new people better participate and accept what for many will be a major psychological change in their minds regarding "what is money?" and its decentralization.

Bitcoin needs Litecoin and other alts whether the elitists admit it or not.

In the end BTC will not be the final currency but will always be known historically as first!

I wouldn't sell litecoins right now. In a month they'll worth $1000 each.

I agree with your view.

In the short term though this could cause some problems. People who find it hard to grasp the bitcoin concept are going to have even more trouble understanding why there are competing currencies. 

I just hope we get some new reliable exchanges operating soon.  I would hate to see the US portion of mtgox get shutdown.  Haven't heard much about that or Coinlab's involvment lately. 

Any time frame? weeks? months?

BTC is Gox's cash cow - this move may well damage that; lets see.

Doesn't matter. When it comes it will be a godsend. Think of how many people will look at LTC at being $4 and think "this is like bitcoin years ago!". That will change everything. Imagine what LTC you buy now going up to $10, or $15. Thats an easy call, people will diversify in to LTC just for the sake of diversifying and riding the small fluctuation that Gox trading will bring it. It will also finally give us a way to arbitrage between exchanges without needing to get stuck with FIAT. It will allow us to hide our cryptocoins- trade from one to another and it will be impossible to track you through the blockchain. You coins will go into the exchange from one address and come out totally fresh and clean. We need a second cryptocurrency if only for the sake of privacy.

Not sure if you are saracastic...?

Are you being sarcastic...? 

what app is that?

hey men nice looking charts where did you find them i have been looking for nice looking charts like that

It will steady rise until GOX adds it. Then it will go nuts. People will view this as "cheap" because "look at what happened to bitcoin". I love it personally, because I hold a lot of litecoin.

Ah, there's nothing more refreshing than waking up and seeing your LTCs worth almost double than when you went to sleep.

Suck it FC!  ;)

They should add a "like" function to these forums.

GREAT !!!
The next on MtGox is PPC !

GOX LTC is pending till next year , as they said they will launch a new trading system on june. with all the trial and error on the new trading platform, we are expecting to get LTC on the road as 1st quarter of 2014. so cheers :)

No it's not.

It's good to see something official from Mt.Gox about this. Hopefully they can get their other upgrades done without too much delay.

That sucks. Go ahead and buy some more. You will at least double your money soon. :)

Does anyones sells LTC now? ;D

Agree, nothing else is close to MtGox IMHO.

I sold all mine earlier today for btc and dvc. Don't know why it rallied, that news was already known and (should have been) in the price. Think it will gradually fall back to around 22 unless gox implements it soon. If it doesn't then I'm obviously wrong.

It was already known  but a lot of people took it as rumor for some reason (silly since even MagicalTux himself confirmed it on IRC).

The power of a pdf.

Funny they didn't mention the NameCoin along with LTC.  I guess that PDF will be released in coming weeks...

I honestly feel that the price of Litecoin is going to fall, if for no other reason than the fact that there is absolutely no estimation on time other than "Soon". With the issues that Mt Gox has been having, they probably won't be getting this up and running for a least a month, if not more...  :-\ It seems a bit soon for such a hike in price.

Hopefully, this isn't a BFL "soon"  ;D

businesses start accepting LTC, that's why I think LTC is solid enough to survive.

What are the chances they'll add LTC before the trading engine upgrade?  Doesn't seem like it makes much sense to do so.

I don't think they will postpone everything because of new engine. New engine is other task. LTC implementation is other task. If they announce 2 weeks, they must have all the infrastructure ready and just testing it.

yeah, but what about namecoin NMC, it's strange they didn't mention anything in pdf.

And so it begins , this is the true evolution of a, very close to true free market, I wouldn't be betting on BTC to win this race.  NVC is the next to list in my opinion.

slowly , but surely , then there will be a Crypt section on your daily news financial section , then expect Crypt economy to follow.



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some nations will be slower (obviously) than others.

uh huh.

They clearly already have the infrastructure, and they'll release asap given that it's more money in their pockets. I gather the new engine is a separate thing, and wouldn't really have any bearing on adding LTC. If they were comfortable enough to release that PDF, things are probably relatively under control. If there's no drama, I'd guess LTC within two weeks.

THIS

I don't think a lot of people have worked out the implications.