Cognitive-LTC Possibility

[Garr255]

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

[URSAY]

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

[PinkBatman]

I like this!

[Garr255]

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

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

[Garr255]

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.

[Bitcoin Oz]

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
If you buy some litecoinglobal stocks then you benefit from people buying ltc mining stocks 

You cant do that on cryptostocks.

[Garr255]

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
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

[Nefario]

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

[Garr255]

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:

EDIT:

If GLBSE fully supports LTC within the duration of this poll, we will use GLBSE.

(4 days)

[Bitcoin Oz]

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

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

 


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

[Nefario]

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

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.

[Garr255]

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

[Nefario]

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.

[Garr255]

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:

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

Perhaps you should stay focused with Bitcoin, while LitecoinGlobal maintains the Litecoin exchange. This would probably be for the best.

[Nefario]

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:

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

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.

[URSAY]

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.   

[Garr255]

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.

[Kumala]

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

[Garr255]

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.

[stochastic]

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.