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Author Topic: MtGox & Litecoin - Its all a rumor gone out of control  (Read 13400 times)
Wolf0
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April 15, 2013, 05:16:57 PM
 #61

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.
That's is AML verification which is required by law...........

If it was, BTC-E would be forced to do it too. Yet they don't.
Its not because someone doesn't comply to law that the law doesn't exist.

They have 2 options. Comply in the coming months (regulation was released the 18th of march 2013 by fincen). Or deny service to US citizens.

"If selling drugs was illegal, no one would be selling them"

But hey, think whatever you want.

I figured they would have to ALREADY deny service to US citizens. Oh, well, yet another reason to expatriate.
When a new regulation is released, you have a grand father father grace period. They are not gonna pursue legal avenues if a business doesn't comply the next day. I do not know if btc-e plans to comply or not, but it certainly does not mean it is legal.

Also that grace period is usually very objective and can be limited to "within a reasonable amount of time" unless it explicitly states "must comply by xxxx"

Oh, I see. Didn't know the AML BS was new.

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cosurgi
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April 20, 2013, 07:14:55 AM
 #62

MagicalTux said to expect a public statement about alt-coins this week.
11 days passed. Did we have some public statement last week?

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April 20, 2013, 07:55:07 AM
 #63

looks like they haven't released the fix they planed for April 17th. I can still place orders with no fund, I guess it will be a while for LTC support.
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April 20, 2013, 08:08:40 AM
 #64

I think MtGox staff has been busy.

They said they will implement LTC soon, and I believe them.

They have a pretty good rep in the Bitcoin community, I don't think they'd risk it over a practical joke that could cause people to lose a lot of money. (IE. someone hearing the news and investing a lot into Litecoin and them not actually ever planning on implementing it.)

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April 20, 2013, 01:49:54 PM
 #65

Why doesn't someone send magictux a tweet on twitter? He seems to like replying to them  Cheesy

Maybe if a few guys ask him he will give an update?

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April 24, 2013, 01:47:36 AM
 #66

They have a pretty good rep in the Bitcoin community,

good rep in the Bitcoin community,

good rep


Hahaha...you're joking with this, right? They are a plague on the bitcoin community.
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April 24, 2013, 03:19:08 AM
 #67

They have a pretty good rep in the Bitcoin community,
Hahaha...you're joking with this, right? They are a plague on the bitcoin community.

Well... they do handle 80% of all Bitcoin trading, the Bitcoin market cap is about 1.5 Billion dollars right now.

I'd say if they didn't have a good rep, then they would not be the most popular exchange because people wouldn't want to use their service.

Whether that is a good or a bad thing they control 80%... I agree its a bad thing. Price can be affected by the exchange's uptime/downtime/ddos rate/getting hacked/etc... I am a big fan of decentralization, so we need more good exchanges.

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April 24, 2013, 05:51:04 AM
 #68

They have a pretty good rep in the Bitcoin community,
Hahaha...you're joking with this, right? They are a plague on the bitcoin community.

Well... they do handle 80% of all Bitcoin trading, the Bitcoin market cap is about 1.5 Billion dollars right now.

I'd say if they didn't have a good rep, then they would not be the most popular exchange because people wouldn't want to use their service.

Whether that is a good or a bad thing they control 80%... I agree its a bad thing. Price can be affected by the exchange's uptime/downtime/ddos rate/getting hacked/etc... I am a big fan of decentralization, so we need more good exchanges.


We are talking about Magic the Gathering Online Exchange.

They came to control the market because they had no competition for quite a while, and any blossoming competitors suffered enormous breaches. I agree that we need good exchanges. There isn't a single one right now.
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April 24, 2013, 03:55:03 PM
 #69

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.

Now the  end of Apr, where is my lovely gox OTC?
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April 24, 2013, 04:05:26 PM
 #70

Even IF (a big IF), mtgox opens LTC trading, that's nothing new, it only takes the business from BTC-E. Anyone who wanted to buy/sell LTC, could already do it before. I bought 6 figures in LTC by buying Bitcoin on gox, send to BTC-E, obtain LTC. I don't see why should LTC value rise due to such stupid reason. Still need massive amount of merchant support, otherwise the value should be at $0.06 where it belongs.

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April 24, 2013, 04:26:02 PM
 #71

Even IF (a big IF), mtgox opens LTC trading, that's nothing new, it only takes the business from BTC-E. Anyone who wanted to buy/sell LTC, could already do it before. I bought 6 figures in LTC by buying Bitcoin on gox, send to BTC-E, obtain LTC. I don't see why should LTC value rise due to such stupid reason. Still need massive amount of merchant support, otherwise the value should be at $0.06 where it belongs.

Nobody with money knows what BTC-E is.

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April 24, 2013, 04:52:35 PM
 #72

Who cares? Why is this an argument? Examine the information available to you, put your money/miners where you think the odds will favor you, and let the dice roll. Stop making a huge issue out of it. Jesus. Some people's kids.

If you like my rants, feel free to give me your coins! Cheesy
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April 25, 2013, 05:51:01 AM
 #73

Glad to know it was just a rumor that went out of control.  Wink  Grin

--edit--

I just could not help myself.  

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April 25, 2013, 06:05:51 AM
 #74

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.

well it appears you could not be more wrong....negative props

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April 25, 2013, 06:07:01 AM
 #75

5 hours ago:

https://mtgox.com/pdf/20130424_ddos_statement_and_faq.pdf

LTC will be added  Smiley

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April 25, 2013, 06:11:27 AM
 #76

And going nuts on btc-e Europes waking up.

3.82 as of now.

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April 25, 2013, 06:15:39 AM
 #77

And going nuts on btc-e Europes waking up.

3.82 as of now.

Yup, I'm glad I hoarded LTC like crazy Cheesy
Not selling yet, wait for the MtGox exchange and slowly sell for max profit Smiley

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April 25, 2013, 06:20:42 AM
 #78

Even IF (a big IF), mtgox opens LTC trading, that's nothing new, it only takes the business from BTC-E. Anyone who wanted to buy/sell LTC, could already do it before. I bought 6 figures in LTC by buying Bitcoin on gox, send to BTC-E, obtain LTC. I don't see why should LTC value rise due to such stupid reason. Still need massive amount of merchant support, otherwise the value should be at $0.06 where it belongs.

No... Nothing new... >600.000 traders suddenly seeing "LTC" and "NMC" to trade won't do anything to the price Grin

So I say, I buy all your LTC for $0.07. Deal?  Smiley

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April 27, 2013, 03:16:20 AM
 #79

so what's the scoop

yeah baby yeah
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April 27, 2013, 04:02:44 AM
 #80

Well now that mtgox has confirmed the rumor to be true.

Koolio, we should change the title of this thread to something more appropriate mate?

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