|
Lol this is nothing but false premises.
|
|
|
|
LTC is essentially a BTC fork with faster confirmations resulting in a less secure network. However, bitcoin payment processing companies can use off the block transactions for instant confirmations. I'm not saying LTC is useless. It just doesn't do anything bitcoin doesn't accept for send money slightly faster at the expense of security. But as the masses adopt, they will almost certainly be using simplified services that allow for off the block transactions.
I don't wish LTC would go away, I think it is and always will be a secondary to BTC. If anything, something like peercoin should prove to be more competition, as it is actually based on proof of stake AND proof of work, instead of just copying bitcoin and making a slight modification.
In the future an alt currency with real benefits over BTC could certainly be developed. Just hasn't happened yet.
The main benefit over BTC would be the Scrypt hashing algorithm, for which mass production of ASIC's is less feasible, at least not by a factor of 1000 over GPU's like we're seeing on Bitcoin at the moment. This means litecoin stays out of the hands of chinese chip monopolists, and into the hands of the well distributed userbase of graphics cards. |
|
|
|
I'm thinking do it but only do it if your prepared to lose the money you get loaned. Meaning you can afford to lost that amount. I may do the same thing but it won't be for a lot of money I just want to get in on the action.
If you need a loan you obviously can't afford to lose it. Being in big debt sucks, avoid it at all cost. AT ALL COST. Even if it means passing on this possible opportunity to get rich quick. Do not do it. |
|
|
|
Is going down, it may collapse i down to $965 I am afraid it can drop all the way to $20 dollars or to zero
Is going down is falling like a stone down to 880.... I think is the big crash For the 100th time the big crash was just a correction. It is getting boring  Yes, and once everybody is truly comfortable with the idea that every downward motion is "just a correction" and "just a bulltrap", the true crash will present itself. |
|
|
|
|
>Implying I'm not consistently gaining money on each of these dips
Are you not preaching to everyone to buybuybuy bitcoins solely because you got some cheap in the early days and are in uber bull mode?
|
|
|
|
|
Still a bear trap? If anything, the money I made on this dump so far has come out of the pocket of the bulls... Zeroday, smoothie, thanks!
|
|
|
|
Bear attack failed.  LOLOLOLOLOL That "bear trap" took 9 days to close. That must be the slowest beartrap in the history of mankind. Even the slowest of prey imaginable had plenty of time to get out of the way. No, sir, that was not a bear trap, but you do make me laugh. |
|
|
|
there was a pop probably because everyone was sitting around expecting one. is it a case of self-fulfilling prophecy? it didn't move THAT much anyways.
Nobody was expecting a pop. Everybody was expecting a bubble (which is why a bubble didn't happen first). Have you not seen the extreme mania all over these forums? It was going to 10.000 by christmas. |
|
|
|
|
Hey I'm all about playing this game, don't get me wrong. It just amazes me why everyone keeps scorning the noobs while they so dearly need them for mass adoption.
Also, zeroday, while the flash-crash may be over, this one was unusual - earlier, flash-crashes only followed parabolic unsustainable rises. Now it followed a slow topping-out and start of a slow descent.
We'll see how bullish you're staying the next few weeks.
|
|
|
|
What's wrong with being a weak hand? They will either learn the lesson, or go with their money in fiat.
Don't we need mass adoption? That being, not scaring away the 'weak hands'? Everybody here wants the 1 million USD bitcoin, yet everyone gloats when the noobs get hurt in crashes like these. It's a bit dual, isn't it? |
|
|
|
|
Lol @ everything being bear trap. This bear made loads of $$ by it dropping from 1200+ to <1100.
|
|
|
|
It wasn't anything but weak hands being flushed out. Expect another large jump ATH this week.
Those "weak hands" that are "shaken out" are the ones you so dearly need for mass adoption, remember that. |
|
|
|
Whew! I'm glad the forum's back-- that was a bit scary  Well, my read on this situation is that, like the big drop from 900 => 450, we have broken out of the parabolic channel (of goodness seen in the blue bracketed lines), and we are on the cusp of re-entering it. As we reenter, we look forward to Fresh Fiat Monday, and today appears to be yet another example of manipulation. Still, as we re-enter the channel, we can expect to stay within it until we break through it again-- my guess is next time we come through we will have more trajectory, and we'll see a larger 'correction' (maybe 1800 to 700 or 2300 to 1200, or something like that). [the lower blue line is approximately at the long term (roughly from rpietila) trend]Choo choo.   Are you a millionaire yet? |
|
|
|
|
It wasn't a pop. It was a bleed. A long overdue correction due to a lightning fast unhealthy rise.
|
|
|
|
|
Were the dip to happen on monday, would it be called the monday-morning-dip? Or on wednesday, the midweek-stagnation dip? Ofcourse, tomorrows dip will be the ungodly-sunday-dip because of churchgoers.
[notsarcastic]The bitcoin market never closes, there are no day-of-the-week-related events.[/notsarcastic]
|
|
|
|
If the treasury issues 21 million MegaDollars maximum, and someone owns 1 million Megadollar, that still means he has 5% of all money. If the plebs then decide to pay for bread with 0.000000001 Dollar because it's dividable to infinity, well then just imagine how many breads the dude with 1 million MegaDollar can buy.
>> His megadollars will only become relatively worth more by adding more decimal places. Not less.
Quite so. The trick Bitcoin has used is to limit a unit representing a large chunk of the monetary base, but to make the chunk infinitely divisible. By contrast the US treasury inflates supply, but does so in small units. So what is your argument then? Yes you can divide bitcoins up as much as you want. You could divide gold to its bare atoms - that doesn't make the value of a whole bitcoin or a chunk of gold any less. Or are you just pointing out that the divisibility is a great feature that ensures bitcoin can be used in the long run, when 1 BTC is valued at too much for the normal daily business, and thus we need to switch to milli or micro BTC? |
|
|
|
|
Just read the post above you.
|
|
|
|
|
If the treasury issues 21 million MegaDollars maximum, and someone owns 1 million Megadollar, that still means he has 5% of all money. If the plebs then decide to pay for bread with 0.000000001 Dollar because it's dividable to infinity, well then just imagine how many breads the dude with 1 million MegaDollar can buy.
>> His megadollars will only become relatively worth more by adding more decimal places. Not less.
|
|
|
|
|
8 hours - OP wants to catch some long lost sleep and wants to know whether to go to bed with USD or BTC.
|
|
|
|
|
Show Posts
