MtGox & Litecoin - Its all a rumor gone out of control

[matauc12]

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.

Did you read, or just write?

No its not regulated. But as the leader, they gain a lot of trust and protect themselves, and consequently you by following common regulations even if they don't apply (yet).

And announcing wouldn't be manipulation. Leading to believe and then retracting would be.

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[ruggedman_dan]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

[matauc12]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

When they add it is pretty irrelevant. Its if they add it or not.

Its not the day it will hit mtgox that the big spike will occur, but the day its on their news feed.

[romerun]

I'll add it after 17th when the lag issue is addressed.

[bitcoiners]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

Whoo, 20 ltc... I'd be willing to bet it it was more like 1 or 2k ltc.

[elvisrene]

yea litecoin is going threw the roof and so is its difficulty becoming harder and harder to mine only profitable to those that have 2 or more years mining  and that have capital ..

[ruggedman_dan]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

Whoo, 20 ltc... I'd be willing to bet it it was more like 1 or 2k ltc.

If you are willing to bet that much then what's 20 LTC? LTC will probably rise in value between now and then anyway.

[bitcoiners]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

Whoo, 20 ltc... I'd be willing to bet it it was more like 1 or 2k ltc.

If you are willing to bet that much then what's 20 LTC? LTC will probably rise in value between now and then anyway.

What's 20 LTC? Not worth my time no matter how much they go up.  That's what 20 LTC is.  Now let's see if lips has the courage to back up his wager.

[ruggedman_dan]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

Whoo, 20 ltc... I'd be willing to bet it it was more like 1 or 2k ltc.

If you are willing to bet that much then what's 20 LTC? LTC will probably rise in value between now and then anyway.

What's 20 LTC? Not worth my time no matter how much they go up.

Ok buddy.

Anyone game? Bet still stands.

[bitcoiners]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

Whoo, 20 ltc... I'd be willing to bet it it was more like 1 or 2k ltc.

If you are willing to bet that much then what's 20 LTC? LTC will probably rise in value between now and then anyway.

What's 20 LTC? Not worth my time no matter how much they go up.

Ok buddy.

Anyone game? Bet still stands.

So you are taking my bet?  We need an escrow...

[ruggedman_dan]

I will take bets that MtGox will NOT be trading LTC in the next two weeks.

I got 20 LTC to back up my bet. Who wants to take it?

Whoo, 20 ltc... I'd be willing to bet it it was more like 1 or 2k ltc.

If you are willing to bet that much then what's 20 LTC? LTC will probably rise in value between now and then anyway.

What's 20 LTC? Not worth my time no matter how much they go up.

Ok buddy.

Anyone game? Bet still stands.

So you are taking my bet?  We need an escrow...

No.

[crazy_rabbit]

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.

BTC-E would be forced to do it, if anyone knew who they were. :-)  BTC-E isn't legal without a large amount of paperwork in any modern country as far as I know. Not that it dissuades any of us from using it. Just it keeps me from keeping too much money there for too long. :-)

[Radacoin]

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.

MtGox makes shitloads of money at the moment. They invest a fraction of this shitload in new infrastructure and their problems are solved. Plus they make even more money because now they trace BTC and LTC.

According to your logic things like NASDAQ wouldn't be possible. Those system handle 1.000.000 times more transactions than MtGox system does at the moment.

[The Koolio]

Just out of interest who here thinks that gox is manipulating the markets not only with their own stash but with the lag. I believe they create the lag to get people out of the market... a company that size would have sorted it by now but no... clearly making them suspicious

[matauc12]

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.

[matauc12]

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"

[cosurgi]

MagicalTux said to expect a public statement about alt-coins this week.

11 days passed. Did we have some public statement last week?

[romerun]

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.

[CoinHoarder]

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.)

[mr_random]

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

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