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Author Topic: MtGox & Litecoin - Its all a rumor gone out of control  (Read 13403 times)
The Koolio
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April 09, 2013, 10:30:37 PM
 #1

I thought Id start this as it seems everyone is pinning their hopes on Gox accepting LTC. Im all for expansion of the currency but when you consider the facts it does seem a bit of a fallacy.

MtGox have lag issues anyway with Bitcoin traffic, often I see upto 8 minutes lag which aside being shoddy service considering how much they make, does make me feel they manipulate markets and prevent trading when it suits them. The addition of LTC would simply over load their already slow system. If any alt currencies were coming to Gox I would think they would put this off for some time at least until they can scale their servers.

The price of LTC is already pumped to hell, I know a lot of people won't like me saying that but its true. Theres not enough services to sustain this price and when you consider the services BTC had at this price it certainly puts LTC into perspective.

LTC will grow, but not until payment processors are out and no one exchange has the foothold on the market like BTC-e.

Im in LTC for the long run, but cant say I dont expect a big fall to happen soon when buys run out of steam due to lack of confidence.

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bitcoiners
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April 09, 2013, 10:36:02 PM
 #2

Someone has been hanging in the troll box way to much thinking this is the troll box.

Sorry dude... Gox has confirmed it's adding LTC and it's also confirmed it's adding LTC this month.  WAKE UP.

Oh and ignore for spreading more bullshit.
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April 09, 2013, 10:38:05 PM
 #3

By confirmed you mean some twitter message? Get real. -_-

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April 09, 2013, 10:39:56 PM
 #4

It isn't a rumor. We will see an announcement this week about it.

https://twitter.com/MagicalTux/status/320557153226211328
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April 09, 2013, 10:41:08 PM
 #5

By confirmed you mean some twitter message? Get real. -_-

You realize those twitter messages are from a person who works for/with MtGox right?

Edit: Alright, now I learned he is the founder, no need to quote this again telling me. Tongue
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April 09, 2013, 10:42:36 PM
 #6

Again, I will believe it when they put it in their News Feed, not when some dude tweets about it. Also, if he works for them he is very likely bound by an NDA and could get fired for leaking shite like that.

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April 09, 2013, 10:44:11 PM
 #7

The dude tweeting about it happens to manage mtgox
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April 09, 2013, 10:46:51 PM
 #8

The dude tweeting about it happens to own mtgox

Funny, because MTGox bashes DDoSers for altering the price of Bitcoin and then goes out and tweets ifs/ands about Litecoin to flux the price...

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bitcoiners
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April 09, 2013, 10:47:35 PM
 #9

By confirmed you mean some twitter message? Get real. -_-

You realize those twitter messages are from a person who works for/with MtGox right?

Not just works with, but owns MtGox. Not only is it on twitter but their irc as well that LTC support is coming before the end of the month.

People will remain idiots though.  No need to argue with them just put them on ignore.  I already had victory on ignore so I couldn't even read what he said. lol.

Edit: Not to mention the friggin' api already has it and has been updated twice.

Stupid people and their money....
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April 09, 2013, 10:49:49 PM
 #10

By confirmed you mean some twitter message? Get real. -_-

You realize those twitter messages are from a person who works for/with MtGox right?
it's from the founder of mtgox

It is pitch black. You are likely to be eaten by a grue.

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matauc12
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April 09, 2013, 10:55:36 PM
 #11

The dude tweeting about it happens to manage mtgox
This.

Those "meaningless" tweet you are talking about would be enough to put them under trouble for market manipulation. Regulated or not, that is not an avenue that seems likely.

As you state with the amount they make, why would they jeopordize with that good income for doing that kind of very obvious shady business.

Less FUD please.
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April 09, 2013, 11:00:45 PM
 #12

There is a link floating that shows mtgox having litecoin api page. Not sure about that Twitter, anyone can setup account there but api page shows that they have plan to do it at some time.

Not sure it is good idea tbh, it will only confuse people who are just getting familiar with bitcoin, they don't need another WTF moment.

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bitcoiners
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April 09, 2013, 11:03:54 PM
 #13

There is a link floating that shows mtgox having litecoin api page. Not sure about that Twitter, anyone can setup account there but api page shows that they have plan to do it at some time.

Not sure it is good idea tbh, it will only confuse people who are just getting familiar with bitcoin, they don't need another WTF moment.

It's on their IRC too... Jesus people are dumb.
VforVictory
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April 09, 2013, 11:07:11 PM
 #14

There is a link floating that shows mtgox having litecoin api page. Not sure about that Twitter, anyone can setup account there but api page shows that they have plan to do it at some time.

Not sure it is good idea tbh, it will only confuse people who are just getting familiar with bitcoin, they don't need another WTF moment.

It's on their IRC too... Jesus people are dumb.

Not everyone worships MTGox and visits their IRC page, or even knows what IRC is*

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matauc12
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April 09, 2013, 11:13:21 PM
 #15

There is a link floating that shows mtgox having litecoin api page. Not sure about that Twitter, anyone can setup account there but api page shows that they have plan to do it at some time.

Not sure it is good idea tbh, it will only confuse people who are just getting familiar with bitcoin, they don't need another WTF moment.

It's on their IRC too... Jesus people are dumb.

Not everyone worships MTGox and visits their IRC page, or even knows what IRC is*
its not because you are ignorant about something that its false.

I just can't help it but feel irony when someone calls a claim from a CEO a rumor about his own company.
The Koolio
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April 09, 2013, 11:14:44 PM
 #16

Im sorry but if you think a twit is official you are wrong. Also can I ask whether anyone in their right mind would want to trade something on a site that lags like hell. When ever a buy up happens theres lag, but not on a sell off. Its the gox guys manipulating the markets and most people cant see that. Its stupid. If anyone wanted to buy ltc they would move their btc from gox to btce... so ergo having gox accept it wont make the biggest of differences.

An official statement would be on their site. Not on a twitter or IRC feed. Those are not the channels of the users, more where they can gain a bit of publicity

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April 09, 2013, 11:17:28 PM
 #17

Confirmed rumour. Now dump all your cheap LTC to me.

Thanks.
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April 09, 2013, 11:18:27 PM
 #18

Im sorry but if you think a twit is official you are wrong. Also can I ask whether anyone in their right mind would want to trade something on a site that lags like hell. When ever a buy up happens theres lag, but not on a sell off. Its the gox guys manipulating the markets and most people cant see that. Its stupid. If anyone wanted to buy ltc they would move their btc from gox to btce... so ergo having gox accept it wont make the biggest of differences.

An official statement would be on their site. Not on a twitter or IRC feed. Those are not the channels of the users, more where they can gain a bit of publicity

You sound quite paranoid over MtGox Koolio. MagicalTux said to expect a public statement about alt-coins this week.

Also, don't forget that LTC and NMC have been added into the api.

https://data.mtgox.com/api/2/LTCUSD/money/ticker
https://data.mtgox.com/api/2/NMCUSD/money/ticker

And don't get the wrong idea, I don't really like the fact that MtGox is added it either. I am just in it for the short term spike it may or may not cause, because I'm greedy.
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April 09, 2013, 11:20:01 PM
 #19

Im sorry but if you think a twit is official you are wrong. Also can I ask whether anyone in their right mind would want to trade something on a site that lags like hell. When ever a buy up happens theres lag, but not on a sell off. Its the gox guys manipulating the markets and most people cant see that. Its stupid. If anyone wanted to buy ltc they would move their btc from gox to btce... so ergo having gox accept it wont make the biggest of differences.

An official statement would be on their site. Not on a twitter or IRC feed. Those are not the channels of the users, more where they can gain a bit of publicity
Its not official, no. But a confirmation that an official announcement is coming this week by the CEO is good enough for me. You can close your eyes to that if you want. But it makes the word "rumor" weight a lot less.

And why does everything have to be a conspiracy theory? If I'd have to pull a number out of my ass, I'd say about 5% of the time someone calls something a conspiracy that it is true.

But then, I know a lot of people have their tin foil hat handy.
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April 09, 2013, 11:24:05 PM
 #20

Im sorry but if you think a twit is official you are wrong. Also can I ask whether anyone in their right mind would want to trade something on a site that lags like hell. When ever a buy up happens theres lag, but not on a sell off. Its the gox guys manipulating the markets and most people cant see that. Its stupid. If anyone wanted to buy ltc they would move their btc from gox to btce... so ergo having gox accept it wont make the biggest of differences.

An official statement would be on their site. Not on a twitter or IRC feed. Those are not the channels of the users, more where they can gain a bit of publicity

I disagree. Litecoin is really only utilized by a small segment of nerds among a slightly less small segment of nerds, though the latter is briskly growing to include average investors as articles about Bitcoin begin to saturate mainstream media. Most everybody who knows anything about Bitcoin, even the casual reader of mainstream publications, is aware of MtGox. BTC-E on the other hand -- what's that? When MtGox makes an official announcement of Litecoin and Namecoin support, it's going to open up the floodgates and expose a whole new segment of people to the chains and, in theory anyway, bring in a TON of new money. People are going to want to diversify their eCurrency holdings beyond just Bitcoin and MtGox is going to enable them to do that by offering viable alternatives.

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