I'd like to offer a competition similar to
my previous Bitcoin one, but for Litecoins this time, firstly for when the value of a single litecoin will be equal to 1 gram of silver, with a present silver price of $28.64 per Troy Ounce with 32.15075 ounces to 1 Kg, that gives a price of $0.9208 per gram atm for silver against the present LTC price of approx $0.56 each. Note Bitcoin overtook the 1 Gm gold price this week for the first time, see recent posts in the other competition thread.
Secondly for when the Litecoin market cap (number of units issued times price) will equal at least 0.1 billion dollars = $100,000,000
the present market cap is around 11 million USD I believe.
There is a prize of 100 LTC for each competition with a doubling of the prizes for anyone who guesses both correctly for a total of 400 LTC.
Please express date as YYYY MM DD or as 29th Feb 2012 say, thread will be locked on the 1st May 2013 - please don't edit your dates except for typos/clarity or to add a date for either one of the competitions that you haven't yet chosen for but please also make a new post for this so that I see it, my rules & common sense, i.e. if someone puts the same date as one already chosen the first person wins it & ambiguous dates will be void, one entry per pre-existing forum ID & sock puppet accounts will be void if spotted.
Edit: Closest guesses win obviously, dates are by GMT/UTC time & an additional competition for a flat 100 LTC prize, if he does so then when will Mike Caldwell/Casascius first put physical litecoins on sale to the public.
Edit 2: If anyone who would like to add to these prizes then please to let me know.
Edit 3: Price to be taken as on the main/largest exchange at the time, ie atm it's BTC-E.
Edit 4: 2013 03 31 With the
silver price making a low of $28.22 per Oz = $0.87774 per gram last Thursday & Litecoin making a high of $0.8247 yesterday we are getting very close, so a small rules change, once the price of litecoins goes over $0.85 or if silver falls below $27.50 per Oz = $0.85535 approx per gram then entries on the 1 LTC = 1 gm Ag part of the competition are closed.
See post #7 for a summary of entries to date, which updates every so often, but quite often, at least daily usually atm.
(Note to self - in future reserve post #2 for this)
Poll
