Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[samson]

Regarding investing in LTC. I'm not against it, but not for it at the moment. Many of us here see BTC coming down in price, perhaps a lot. Since the cryptocurrencies are VERY tied to BTC's price, one should probably not get into them during a BTC correction.

I agree not to advise investing in LTC for now, sure. But trading is a good idea right now. I made 20% profit on my BTCs by buying and selling LTC in the last 2 days, and I'm basically a noob at trading. Definitely worth doing again when/if gox announces doing LTC officially.

They did announce it officially on the facebook page. No date yet but it's coming.

I picked some LTC up at about $2.30 recently and it's gone up quite a bit since then.

I think I'll just hold onto it for the next month or two and see how it plays out.

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[ChartBuddy]

[weaknesswaran]

Regarding investing in LTC. I'm not against it, but not for it at the moment. Many of us here see BTC coming down in price, perhaps a lot. Since the cryptocurrencies are VERY tied to BTC's price, one should probably not get into them during a BTC correction.

I agree not to advise investing in LTC for now, sure. But trading is a good idea right now. I made 20% profit on my BTCs by buying and selling LTC in the last 2 days, and I'm basically a noob at trading. Definitely worth doing again when/if gox announces doing LTC officially.

They did announce it officially on the facebook page. No date yet but it's coming.

I picked some LTC up at about $2.30 recently and it's gone up quite a bit since then.

I think I'll just hold onto it for the next month or two and see how it plays out.

Perhaps it was just announced to show some sort good news, too?

[micalith]

Regarding investing in LTC. I'm not against it, but not for it at the moment. Many of us here see BTC coming down in price, perhaps a lot. Since the cryptocurrencies are VERY tied to BTC's price, one should probably not get into them during a BTC correction.

I agree not to advise investing in LTC for now, sure. But trading is a good idea right now. I made 20% profit on my BTCs by buying and selling LTC in the last 2 days, and I'm basically a noob at trading. Definitely worth doing again when/if gox announces doing LTC officially.

They did announce it officially on the facebook page. No date yet but it's coming.

I picked some LTC up at about $2.30 recently and it's gone up quite a bit since then.

I think I'll just hold onto it for the next month or two and see how it plays out.

Perhaps it was just announced to show some sort good news, too?

Yup. announced, but not yet adopted is what I'm insinuating.  Wait and see I guess

[rezurect]

Offtopic:
The've announced LTC quite a few times via a Press release, twitter and their support channel. They keep postponing it without announcing a date.
The press release in april or may mentioned LTC and price spiked to $3.
It went back to $2 shortly.
The FB release says the same thing as the press release pdf. Price spikes again to $3.
I pretty much expect it be postponed again. Gox has bigger troubles to deal with .

[ChartBuddy]

[Rampion]

I'm guessing LTC price will be very likely plummet as soon as it's traded on Gox, which is what happens as soon as a new scam coin is accepted on exchanges.

Too much profit for all those that invested in LTC in March or earlier. I know I will dump 90% of my LTC holdings shortly before it's traded on Gox, with a x10 profit or higher

I will just keep a few hundreds to dump em Gox for the lulz.

[ChartBuddy]

[N12]

Litecoin's alltime high versus Bitcoin of 0.0449 translates into a valuation of 17.96% of BTC market cap, equating Bitcoin's and Litecoin's eventual 21 million and 84 million supplies.

To reach this high again and maintain it, the market would have to believe that Litecoin will surpass/replace Bitcoin, because even if you grant Litecoin the function of a "backup" or "silver" complement, its valuation would be far lower. Do you really want to place your bets on that?

It's simple, all the scamcoins burn out in an eventual peak that they will never again surpass. They are actual bubbles.

Bring it, though. Pump and dump it HARD. The other scamcoins are already standing in line, they too want a piece of the action: https://support.mtgox.com/forums/20514198-Featured-Requests

Seems Blightcoins are valued at 11.64% of Bitcoin right now. Good luck to anyone holding that bag once the hype subsides.

[Rampion]

Litecoin's alltime high versus Bitcoin of 0.0449 translates into a valuation of 17.96% of BTC market cap, equating Bitcoin's and Litecoin's eventual 21 million and 84 million supplies.

To reach this high again and maintain it, the market would have to believe that Litecoin will surpass/replace Bitcoin, because even if you grant Litecoin the function of a "backup" or "silver" complement, its valuation would be far lower. Do you really want to place your bets on that?

It's simple, all the scamcoins burn out in an eventual peak that they will never again surpass. They are actual bubbles.

Bring it, though. Pump and dump it HARD. The other scamcoins are already standing in line, they too want a piece of the action: https://support.mtgox.com/forums/20514198-Featured-Requests

Seems Blightcoins are valued at 11.64% of Bitcoin right now. Good luck to anyone holding that bag once the hype subsides.

Petty much agree, bought LTC at roughly 0.0025 and planning to dump 90% of my remaining holdings at aprox. 0.03 or higher, which I guess will happen after Gox announces official ETA.

Already cashed out a big chunk between 0.019 and 0.025, as I said earlier I will just keep a few hundreds of LTC to dump them on Gox regardless of the price, only for the lulz honestly as I expect the best time to dump will be shortly before LTC hits Gox.

[Rampion]

I would also add that scam coins are pretty profitable, but so far only decided to put significant money in LTC (some thousands of it) and XRPs (a few hundred thousands), tried a little bit of PPC but sold after 2 days with a small profit. It was too prone to continuos pumped ump.

My exit strategy for LTC is very clear (before Gox), on the contrary I'm not sure about XRP, I'm already sitting on a 50% profit and I'm wondering if I should sell now and forget about it or if I should hold it long term and see what happens with Ripple when it exits the beta stage. In any case I'm aware of the fact Ripple is a scam and I may lose everything I've invested in it, in any case it was a gamble with money I definitely can afford to lose. LTC already paid for all the money I could potentially lose with XRP.

[ChartBuddy]

[SGExodus]

What exactly is the definition of "scam" by the moderator in this forum?

How is forking an open source project with a few tweaks makes it a scam?  Their entire operation is as open as Bitcoin.  They have their own mining community, and they hit the dollar parity quicker than Bitcoin.    What exactly did they do to con people into participating in the project to earn them a scam tag?

I didn't see the moderator calling Ripple a scam, despite all the lies on their website/wiki?  I didn't see the moderator call BFL and Avalon scam? For lying about shipment date, and mining with customer equipment?  

Why the double standard?

Having LTC on GOX is a great thing for the community as a whole.  It allows for more arbitrage opportunity between the exchanges by eliminating the need to move fiat currencies around --- which means international wire delays will be a thing of the past.

[N12]

I'm not speaking as a moderator but a member of this forum, and I've voiced my opinion on Cripple in the past as well. And I don't have anything to do with mining. What exactly do you want?

[ChartBuddy]

[ShroomsKit]

Litecoin's alltime high versus Bitcoin of 0.0449 translates into a valuation of 17.96% of BTC market cap, equating Bitcoin's and Litecoin's eventual 21 million and 84 million supplies.

To reach this high again and maintain it, the market would have to believe that Litecoin will surpass/replace Bitcoin, because even if you grant Litecoin the function of a "backup" or "silver" complement, its valuation would be far lower. Do you really want to place your bets on that?

It's simple, all the scamcoins burn out in an eventual peak that they will never again surpass. They are actual bubbles.

Bring it, though. Pump and dump it HARD. The other scamcoins are already standing in line, they too want a piece of the action: https://support.mtgox.com/forums/20514198-Featured-Requests

Seems Blightcoins are valued at 11.64% of Bitcoin right now. Good luck to anyone holding that bag once the hype subsides.

Petty much agree, bought LTC at roughly 0.0025 and planning to dump 90% of my remaining holdings at aprox. 0.03 or higher, which I guess will happen after Gox announces official ETA.

Already cashed out a big chunk between 0.019 and 0.025, as I said earlier I will just keep a few hundreds of LTC to dump them on Gox regardless of the price, only for the lulz honestly as I expect the best time to dump will be shortly before LTC hits Gox.

Why before it hits Gox?

[TheKoziTwo]

LOL, now the Bitcoin Foundation is a money transmiter bussines? Cease an desist order here -> http://www.scribd.com/fullscreen/149335233?access_key=key-2lnhtenm4qb1mydngxac&allow_share=false&show_recommendations=false

What a joke, i wonder how they got that misleading info.

[dexX7]

Here is the true visible effect of Mt.Gox's LTC announcement:

[lucas.sev]

action!

[JimboToronto]

here we go again

must be sunday