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Author Topic: MtGox & Litecoin - Its all a rumor gone out of control  (Read 13404 times)
illpoet
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April 09, 2013, 11:28:58 PM
 #21

rumor or not litecoins = yay!

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matauc12
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April 09, 2013, 11:31:02 PM
 #22

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.
+1 to that, that has been my exact argument word for word for this common comment. And it makes a lot more sense than the comments that prequels this answer.
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April 09, 2013, 11:32:56 PM
 #23

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.

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

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April 09, 2013, 11:34:53 PM
 #24

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

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April 09, 2013, 11:35:57 PM
 #25

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

I can only imagine how many people will end up in the hospital due to massive hand to face trauma when that happens...

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matauc12
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April 09, 2013, 11:45:51 PM
 #26

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

I can only imagine how many people will end up in the hospital due to massive hand to face trauma when that happens...
When they say things like "we are going to reinforce DDOS and working closely with one of the best DDOS protection company".... Well its probably not only PR. At one point, when the protection is big enough, it profoundly discourages even attempts...

If you guys have so much shit to say about a company that honestly didn't really do anything wrong and has been adjusting to its environment pretty well and also held itself accountable the one time it got hacked. I'm not a fanboi, I don't even have an account there. I just hear people bitch bitch and bitch for not many reasons honestly.
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April 09, 2013, 11:52:36 PM
 #27

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

I can only imagine how many people will end up in the hospital due to massive hand to face trauma when that happens...
When they say things like "we are going to reinforce DDOS and working closely with one of the best DDOS protection company".... Well its probably not only PR. At one point, when the protection is big enough, it profoundly discourages even attempts...

If you guys have so much shit to say about a company that honestly didn't really do anything wrong and has been adjusting to its environment pretty well and also held itself accountable the one time it got hacked. I'm not a fanboi, I don't even have an account there. I just hear people bitch bitch and bitch for not many reasons honestly.

Uhhh, Coinotron says it has protection too...but that doesn't stop attackers. Gox has been down plenty enough too, so whatever claims of protection are probably not working/going to work. Especially once all the DDoSers see that they can earn more attacking MtGox for LTC than the LTC Pools.

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matauc12
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April 09, 2013, 11:55:52 PM
 #28

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

I can only imagine how many people will end up in the hospital due to massive hand to face trauma when that happens...
When they say things like "we are going to reinforce DDOS and working closely with one of the best DDOS protection company".... Well its probably not only PR. At one point, when the protection is big enough, it profoundly discourages even attempts...

If you guys have so much shit to say about a company that honestly didn't really do anything wrong and has been adjusting to its environment pretty well and also held itself accountable the one time it got hacked. I'm not a fanboi, I don't even have an account there. I just hear people bitch bitch and bitch for not many reasons honestly.

Uhhh, Coinotron says it has protection too...but that doesn't stop attackers. Gox has been down plenty enough too, so whatever claims of protection are probably not working/going to work. Especially once all the DDoSers see that they can earn more attacking MtGox for LTC than the LTC Pools.
DDOS protection is quantitative, not yes/no. You can adapt to it, and also can have a dynamic package once you are a that big client. I am quite positive this was a peak and adjustments aren't hard to make. I just see it getting better, not worse.

But hey, you aren't the first pessimist in this world.
VforVictory
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April 09, 2013, 11:56:36 PM
 #29

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

I can only imagine how many people will end up in the hospital due to massive hand to face trauma when that happens...
When they say things like "we are going to reinforce DDOS and working closely with one of the best DDOS protection company".... Well its probably not only PR. At one point, when the protection is big enough, it profoundly discourages even attempts...

If you guys have so much shit to say about a company that honestly didn't really do anything wrong and has been adjusting to its environment pretty well and also held itself accountable the one time it got hacked. I'm not a fanboi, I don't even have an account there. I just hear people bitch bitch and bitch for not many reasons honestly.

Uhhh, Coinotron says it has protection too...but that doesn't stop attackers. Gox has been down plenty enough too, so whatever claims of protection are probably not working/going to work. Especially once all the DDoSers see that they can earn more attacking MtGox for LTC than the LTC Pools.
DDOS protection is quantitative, not yes/no. You can adapt to it, and also can have a dynamic package once you are a that big client. I am quite positive this was a peak and adjustments aren't hard to make. I just see it getting better, not worse.

But hey, you aren't the first pessimist in this world.

Skepticism is quite healthy, especially in this market.

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matauc12
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April 09, 2013, 11:59:24 PM
 #30

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

I can only imagine how many people will end up in the hospital due to massive hand to face trauma when that happens...
When they say things like "we are going to reinforce DDOS and working closely with one of the best DDOS protection company".... Well its probably not only PR. At one point, when the protection is big enough, it profoundly discourages even attempts...

If you guys have so much shit to say about a company that honestly didn't really do anything wrong and has been adjusting to its environment pretty well and also held itself accountable the one time it got hacked. I'm not a fanboi, I don't even have an account there. I just hear people bitch bitch and bitch for not many reasons honestly.

Uhhh, Coinotron says it has protection too...but that doesn't stop attackers. Gox has been down plenty enough too, so whatever claims of protection are probably not working/going to work. Especially once all the DDoSers see that they can earn more attacking MtGox for LTC than the LTC Pools.
DDOS protection is quantitative, not yes/no. You can adapt to it, and also can have a dynamic package once you are a that big client. I am quite positive this was a peak and adjustments aren't hard to make. I just see it getting better, not worse.

But hey, you aren't the first pessimist in this world.

Skepticism is quite healthy, especially in this market.
I agree better safe than sorry, but in what were talking about right now, I don't necessarily the benefit...
VforVictory
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April 10, 2013, 12:04:02 AM
 #31

It's also going to expose MtGox to even *more* DDoS. Because, you know, why go after LTC pools when you can stick it to the man.

That's a risk that I'm sure the folks at MtGox have taken into consideration, and apparently they've deemed the juice worthy of the squeeze.

I can only imagine how many people will end up in the hospital due to massive hand to face trauma when that happens...
When they say things like "we are going to reinforce DDOS and working closely with one of the best DDOS protection company".... Well its probably not only PR. At one point, when the protection is big enough, it profoundly discourages even attempts...

If you guys have so much shit to say about a company that honestly didn't really do anything wrong and has been adjusting to its environment pretty well and also held itself accountable the one time it got hacked. I'm not a fanboi, I don't even have an account there. I just hear people bitch bitch and bitch for not many reasons honestly.

Uhhh, Coinotron says it has protection too...but that doesn't stop attackers. Gox has been down plenty enough too, so whatever claims of protection are probably not working/going to work. Especially once all the DDoSers see that they can earn more attacking MtGox for LTC than the LTC Pools.
DDOS protection is quantitative, not yes/no. You can adapt to it, and also can have a dynamic package once you are a that big client. I am quite positive this was a peak and adjustments aren't hard to make. I just see it getting better, not worse.

But hey, you aren't the first pessimist in this world.

Skepticism is quite healthy, especially in this market.
I agree better safe than sorry, but in what were talking about right now, I don't necessarily the benefit...

If you ran MtGox would you be skeptical of your DDoS protection. especially when you add a new currency far more associated with attacks?  THat's the general gist of the past few posts, I think.

I mean, you're free to believe it will all go smoothly, but eh...

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April 10, 2013, 12:53:06 AM
 #32

By confirmed you mean some twitter message? Get real. -_-
Alright, MagicalTux confirmed in his official twitter that MtGox is adding LTC but this shouldn't be considered as a positive clue?
Of course, every company CEO loves spreading hoaxes about their firm on Twitter!
Or maybe *you* get real?
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April 10, 2013, 12:56:04 AM
 #33

By confirmed you mean some twitter message? Get real. -_-
Alright, MagicalTux confirmed in his official twitter that MtGox is adding LTC but this shouldn't be considered as a positive clue?
Of course, every company CEO loves spreading hoaxes about their firm on Twitter!
Or maybe *you* get real?

If I ran an official company twitter I probably wouldn't name it "Magical Tux".

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freequant
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April 10, 2013, 12:57:51 AM
 #34

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.

Cryptocurrencies aren't regulated. There aren't any laws forbidding market manipulation in non-regulated instruments.
Beside, announcing support for a commodity / instrument is hardly market manipulation.
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April 10, 2013, 01:00:52 AM
 #35

By confirmed you mean some twitter message? Get real. -_-
Alright, MagicalTux confirmed in his official twitter that MtGox is adding LTC but this shouldn't be considered as a positive clue?
Of course, every company CEO loves spreading hoaxes about their firm on Twitter!
Or maybe *you* get real?

If I ran an official company twitter I probably wouldn't name it "Magical Tux".
Whatever you would do is irrelevant.
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April 10, 2013, 01:01:39 AM
 #36

By confirmed you mean some twitter message? Get real. -_-
Alright, MagicalTux confirmed in his official twitter that MtGox is adding LTC but this shouldn't be considered as a positive clue?
Of course, every company CEO loves spreading hoaxes about their firm on Twitter!
Or maybe *you* get real?

If I ran an official company twitter I probably wouldn't name it "Magical Tux".
Whatever you would do is irrelevant.

Whatever some dude tweets is irrelevant*

Moving on...

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freequant
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April 10, 2013, 01:24:02 AM
 #37

By confirmed you mean some twitter message? Get real. -_-
Alright, MagicalTux confirmed in his official twitter that MtGox is adding LTC but this shouldn't be considered as a positive clue?
Of course, every company CEO loves spreading hoaxes about their firm on Twitter!
Or maybe *you* get real?

If I ran an official company twitter I probably wouldn't name it "Magical Tux".
Whatever you would do is irrelevant.

Whatever some dude tweets is irrelevant*

Moving on...
You are irrelevant (and on ignore from now)
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April 10, 2013, 01:33:24 AM
 #38

If you guys have so much shit to say about a company that honestly didn't really do anything wrong

Didn't really do anything wrong? How about profiting off Bitcoin while throwing one of it's core values down the toilet? They want your name, address, phone number, a recent bill, and a stool sample or they'll lock your funds up tight with no recourse.

Code:
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April 10, 2013, 01:40:24 AM
 #39

Like them or not btc-e.com have a 50,000 BTC volume/day and growing fast and a lot of it is from alt trades. They seem to handle things pretty well considering, I've been using them for 2 weeks and despite the DDOS their site is up for me 99% of the time, and things get executed pretty quickly.

Mtgox struggle just with handling 150,000 BTC volume and will soon have to up their game which they have dominated for long enough. Competition is healthy.

They will begin to trade the alts or they will (eventually) fall to the competition.
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April 10, 2013, 01:43:49 AM
 #40

Tweet is in no way confirmation that MTGox CEO confirmed anything unless you know the guy personally and he tweeted something you ask him to do when you had a coffee the other day.

API link is definitely confirmation that they have plan to do it. When? We'll see.

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