Bitcoin Forum

Up 138% for the day so far. I do not have many LTC but it is interesting to note because it shows that Bitcoin could do the same thing without any huge crash.

Last time the crash came because MtGox was DDoSed and people panicked. This time we have the Chinese and we have multiple stable exchanges, we could seriously double a few more times, maybe even reaching the point of doubling in a day like LiteCoin did today.

Hold on to your hats folks (and your bitcoins).

Ive been trying to figure out why this happened, but I just made a shit ton on Litecoin today ....

Now should you hold or sell on Litecoin??????????

I dont know what to do!

Should be in alts forum, but I agree, it is very weird...
Gox?

Say it wasn't you, alright.

The chinese ran out of bitcoins, so their buying litecoins instead!

How do you get USD out of litecoin anyways?

Got to sell Litecoin for Bitcoin then transfer to another exchange, then cash out to USD ????

Fuck what if Chinese get on the Litecoin train?

Someone needs to open a litecoin exchange in china.

Litecoin wasn't moving for a long time as Bitcoin rose and doubled and doubled, so then Litecoin sprinted to make up for lost time.

Yep, I'm sure this will be in Alt Currencies shortly.

Litecoin is one of the more popular alt coins, because it has stood for years now, had a similar introduction as Bitcoin, but the Dev (Coblee) was public, and worked closely with the Bitcoin community to create Litecoin. What Litecoin actually does for the community, is first, allows a arbitrage pair that doesn't rely on fiat. If you want to trade back and forth between BTC and LTC, you don't have to ever touch USD which is subject to tons of regulations. Also, because it is ASIC unfriendly, it doesn't compete for BTC resources, not effecting the Bitcoin.

Technically speaking, if the same amount of users and services were available, LTC would be roughly 1/4th the value of BTC. But it has historically been more like 1/20th-1/40th. With the price of BTC on the rise, the price of LTC is also on the rise. Hopefully, what will happen now, is people will see LTC as a more legitimate currency, shops and services will integrate both BTC and LTC payment processing, and we will see LTC approach that 1:4 ratio somewhat.

Things to consider: Bubbles, if BTC is in a bubble, so is LTC
Exchanges: Something interesting to note, is that BTCChina is owned by Coblee's brother, so Litecoin hitting the chinese market is a fairly reasonable assumption, especially as value goes up and it catches people's eyes.

Simply LTC accepted on OKPAY  8)

?   Please elaborate / clarify?

Are you serious? Yo can exchange LTC to USD directly at btc-e

I wouldn't recommend it.

I've lost over $100 due to their fees. Paypal is pretty much the only viable option and there is a 10% total fee (7% BTC-e and 3% Paypal)

Now I just convert my alts into BTC, then send it to Coinbase and withdraw USD from there.

You only pay around $0.50 in fees and the transfer to my bank account usually completes in the next business day.

I'm kind of wondering if the brothers are waiting to coordinate the launch between the Chinese exchange and Coinbase, buying a bunch of LTC before doing so.

OKPAY now accepts the adding funds from your LTC Wallet.. Very usefull  and quickly adding funds method.