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Question: Which of the scenarios do you think is most likely?
#1 - 21 (12.1%)
#2 - 49 (28.2%)
#3 - 6 (3.4%)
#4 - 10 (5.7%)
#5 - 6 (3.4%)
#6 - 82 (47.1%)
Total Voters: 174

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Author Topic: Effect on BTC prices if LTC is hosted on MtGox? Speculate, vote!  (Read 6816 times)
checkers6676
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April 08, 2013, 02:06:56 PM
 #1

IRC has been abuzz with LTC soon to be hosted on MtGox.
I see five different scenarios:

1) The combined traffic of BTC and LTC users both on gox puts gox in its grave.

2) LTC moving to Mtgox causes a short spike in LTC price and short drop in BTC price as people can easily diversify using mtgox.

3) The price of both LTC and BTC stabilize at a lower level, because people could move BTC money into LTC when BTC drops, and vice versa for BTC when LTC drops

4) LTC being available on mtgox confuses new users and convinces them not to invest in either cryptocurrency

5) BTC and LTC are two different entities, and both will continue being traded with no price affect from Mtgox adding LTC

6) BTC up, LTC up (specifically as a result of LTC being added to MtGox)


any other speculation? I'll add alternate hypotheses to the poll.
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April 08, 2013, 02:09:06 PM
 #2

I see one scenario: This thread gets moved to Alternate Cryptocurrencies and remains there.  Cheesy

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April 08, 2013, 02:11:16 PM
 #3

IRC has been abuzz with LTC soon to be hosted on MtGox.
I see three different scenarios:

1) The combined traffic of BTC and LTC users both on gox puts gox in its grave.

2) LTC moving to Mtgox causes a short spike in LTC price and short drop in BTC price as people can easily diversify using mtgox.

3) The price of both LTC and BTC stabilize at a lower level, because people could move BTC money into LTC when BTC drops, and vice versa for BTC when LTC drops


any other speculation? I'll add alternate hypotheses to the poll.

I don't like this development...people are stampeding their way into Mtgox to get a hold of the all precious Bitcoin that they've heard is the new 'digital' gold...how will they feel when they hear something almost exactly like it is available and that Bitcoin is not that scarce. It could put people off and cool them down from all the hype. I hope I'm wrong, because this could be one of the worst things for BTC.

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checkers6676
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April 08, 2013, 02:11:21 PM
 #4

LTC being added to mtgox would (in my opinion) affect BTC price as much or more than it would affect LTC price. The largest bitcoin exchange suddenly diversified, with even more traffic, and an easy route to move funds between two competing currencies in larger volumes than is possible with the btc-e user base? Perhaps the thread will be moved but I won't be the one to do it, this question is more valid than some of the spam rampant in this subforum.
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April 08, 2013, 02:12:49 PM
 #5

As LTC's only goal is the destruction of all cryptocurrency, probably not good.

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April 08, 2013, 02:15:38 PM
 #6

BTC ~= Gold!  (factorial)
LTC ~= Silver!

...
I don't see any problem / issue.  Just evolution into the future.

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April 08, 2013, 02:17:57 PM
 #7

BTC ~= Gold!  (factorial)
LTC ~= Silver!

...
I don't see any problem / issue.  Just evolution into the future.

LTC is Quantitative Easing for Bitcoin.  It contributes nothing and only serves to confuse and dilute.  If someone think that either LTC's "increased speed" or "increased number" are benefits of any sort then that person is stupid beyond measure.

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April 08, 2013, 02:23:56 PM
 #8

As LTC's only goal is the destruction of all cryptocurrency, probably not good.

Any basis for this strong statement aside from emotion (i.e. meaninglessness)?

links to other threads here, anything...

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April 08, 2013, 02:27:07 PM
 #9

LTC up, Bitcoin up.
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April 08, 2013, 02:30:56 PM
 #10

Quote
2) LTC moving to Mtgox causes a short spike in LTC price and short drop in BTC price as people can easily diversify using mtgox.

This, but i don't think BTC will drop much.

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April 08, 2013, 02:39:35 PM
 #11

BTC ~= Gold!  (factorial)
LTC ~= Silver!

...
I don't see any problem / issue.  Just evolution into the future.

LTC is Quantitative Easing for Bitcoin.  It contributes nothing and only serves to confuse and dilute.  If someone think that either LTC's "increased speed" or "increased number" are benefits of any sort then that person is stupid beyond measure.

Agreed!  At a time when Bitcoin is getting attention from the masses, adding something similar will, for most people, just add to confusion.  Or worse. 

"Why use LTC instead of BTC?"
"Well, LTC fixes these problems with BTC..."
"Problems? ..."  uh oh...

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April 09, 2013, 03:09:37 AM
 #12

I still can't dig up a definitive, official announcement date for LTC being hosted on MtGox. I keep hearing mixed stories
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April 09, 2013, 05:24:27 AM
 #13

That's because there isn't one yet.

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April 09, 2013, 05:30:31 AM
 #14

If they add LTC and it looks they will at some point soon, it will be good thing for ltc holders but awful for cryptocurrency being adopeted by masses.

They are still to be introduced to bitcoin, last thing needed is another thing to come to them.

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April 09, 2013, 05:32:52 AM
 #15

I have a strong feeling that many newcomers will see it as an investment opportunity to invest in LTC but primarily because they'll think it may spike just as BTC did (plus the huge price difference will sway them). This will cause an initial increase followed by a drop and then a return to gradual progression.

Or it will jump up to $545.89 exactly and we will all be filthy rich. Tongue

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April 09, 2013, 05:40:32 AM
 #16

LTC arriba, BTC will slow down a bit in short term.
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April 09, 2013, 06:10:27 AM
 #17

Over 300.000 people suddenly get access to Litecoin when MtGox accepts them... Imagine what happens... The price will go up like a rocket...

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April 09, 2013, 07:19:53 AM
 #18

As LTC's only goal is the destruction of all cryptocurrency, probably not good.

bla bla bla  Roll Eyes


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April 09, 2013, 08:21:05 AM
 #19

Honestly I don't see GOX supporting LTC before they fix the problems with the BTC trade engine. How could they? Imagine the revolt they would face from the Bitcoin user base if they added another coin without fixing their current problems? Indeed their user base is already in open revolt with them over this.

I think Gox will add other currencies for sure, but I think it will be months down the line. The volume of trades/money/users coming into Gox is increasing every month at an incredible rate. They are overwhelmed as is. As much as I would like LTC on GOX- its pretty inconceivable that they would add LTC while in the midst of all their current problems.

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April 09, 2013, 08:32:08 AM
 #20

LTC will skyrocket in the short term...

On another note, am I the only one worried and terrified by the fact that a single site alone(MT Gox) actually sets the price for everything..?

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