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ShroomsKit
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June 23, 2013, 05:18:36 PM |
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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-RequestsSeems 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? Because normally all the pump&dump scam coins raise before they hit the exchanges, to fall hard as soon as they hit it. I guess everybody buys on the news this or that scam coin will hit an exchange (normally BTC-e), and then everybody immediately dumps it, as all the "investors" are only after the quick buck... It *may* be different for LTC and Gox, as this exchange has a huge user base that might never use the their exchanges where LTC is traded, and LTC community is orders of magnitude bigger compared to the other coins, but I'm not going to take that risk with the majority of my holdings... Just with a tiny fraction that I will hold for the lulz. I'm assuming people will buy like crazy when there will be an official ETA to Gox, and in my book that's the best time to sell, when everybody is buying enthusiastically and bullishly. Yeah that makes sense. Although many people won't be buying before it hits Gox. So as soon as it hits it my guess is there will be panic buying that will double the price. We'll see. |
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Every time a block is mined, a certain amount of BTC (called the
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subsidy halves every four years and will reach 0 in about 130 years.
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Its About Sharing
Legendary
 Offline
Activity: 1442
Merit: 1000
Antifragile
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June 23, 2013, 05:21:57 PM |
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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-RequestsSeems 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? Because normally all the pump&dump scam coins raise before they hit the exchanges, to fall hard as soon as they hit it. I guess everybody buys on the news this or that scam coin will hit an exchange (normally BTC-e), and then everybody immediately dumps it, as all the "investors" are only after the quick buck... It *may* be different for LTC and Gox, as this exchange has a huge user base that might never use the their exchanges where LTC is traded, and LTC community is orders of magnitude bigger compared to the other coins, but I'm not going to take that risk with the majority of my holdings... Just with a tiny fraction that I will hold for the lulz. I'm assuming people will buy like crazy when there will be an official ETA to Gox, and in my book that's the best time to sell, when everybody is buying enthusiastically and bullishly. Yeah that makes sense. Although many people won't be buying before it hits Gox. So as soon as it hits it my guess is there will be panic buying that will double the price. We'll see. Rampion may be correct to sell shortly before LTC hits Gox (sell on the news). But, there are going to be a lot of people who will want LTC that don't currently have them. S3052 may very well be right in that the price will jump to $4-$6 per LTC. I picked up some today (even though I was initially against it), it is a gamble as I think BTC is going down from here, but hopefully LTC goes up enough to overcome that. |
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ShroomsKit
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June 23, 2013, 05:27:44 PM |
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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-RequestsSeems 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? Because normally all the pump&dump scam coins raise before they hit the exchanges, to fall hard as soon as they hit it. I guess everybody buys on the news this or that scam coin will hit an exchange (normally BTC-e), and then everybody immediately dumps it, as all the "investors" are only after the quick buck... It *may* be different for LTC and Gox, as this exchange has a huge user base that might never use the their exchanges where LTC is traded, and LTC community is orders of magnitude bigger compared to the other coins, but I'm not going to take that risk with the majority of my holdings... Just with a tiny fraction that I will hold for the lulz. I'm assuming people will buy like crazy when there will be an official ETA to Gox, and in my book that's the best time to sell, when everybody is buying enthusiastically and bullishly. Yeah that makes sense. Although many people won't be buying before it hits Gox. So as soon as it hits it my guess is there will be panic buying that will double the price. We'll see. Rampion may be correct to sell shortly before LTC hits Gox (sell on the news). But, there are going to be a lot of people who will want LTC that don't currently have them. S3052 may very well be right in that the price will jump to $4-$6 per LTC. I picked up some today (even though I was initially against it), it is a gamble as I think BTC is going down from here, but hopefully LTC goes up enough to overcome that. I think it will get there even before hitting Gox. And to 10 dollars (for a very short time) once on Gox. |
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crumbs
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June 23, 2013, 05:28:00 PM |
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A potent PR move, if nothing else.
But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now. Wasn't it you who mentioned that they were mining? Technically (afaik), that qualifies as "transmitting money." |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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June 23, 2013, 05:28:31 PM |
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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-RequestsSeems 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? Because normally all the pump&dump scam coins raise before they hit the exchanges, to fall hard as soon as they hit it. I guess everybody buys on the news this or that scam coin will hit an exchange (normally BTC-e), and then everybody immediately dumps it, as all the "investors" are only after the quick buck... It *may* be different for LTC and Gox, as this exchange has a huge user base that might never use the their exchanges where LTC is traded, and LTC community is orders of magnitude bigger compared to the other coins, but I'm not going to take that risk with the majority of my holdings... Just with a tiny fraction that I will hold for the lulz. I'm assuming people will buy like crazy when there will be an official ETA to Gox, and in my book that's the best time to sell, when everybody is buying enthusiastically and bullishly. Yeah that makes sense. Although many people won't be buying before it hits Gox. So as soon as it hits it my guess is there will be panic buying that will double the price. We'll see. Rampion may be correct to sell shortly before LTC hits Gox (sell on the news). But, there are going to be a lot of people who will want LTC that don't currently have them. S3052 may very well be right in that the price will jump to $4-$6 per LTC. I picked up some today (even though I was initially against it), it is a gamble as I think BTC is going down from here, but hopefully LTC goes up enough to overcome that. I think it will get there even before hitting Gox. And to 10 dollars (for a very short time) once on Gox. Damn, I just bought! |
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Pale Phoenix
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June 23, 2013, 05:31:14 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. |
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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June 23, 2013, 05:36:52 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. The point here is: They are a conglomerate of mtgox, bitpay and others which do fit the term money transmitter. |
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ShroomsKit
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June 23, 2013, 05:38:41 PM |
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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-RequestsSeems 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? Because normally all the pump&dump scam coins raise before they hit the exchanges, to fall hard as soon as they hit it. I guess everybody buys on the news this or that scam coin will hit an exchange (normally BTC-e), and then everybody immediately dumps it, as all the "investors" are only after the quick buck... It *may* be different for LTC and Gox, as this exchange has a huge user base that might never use the their exchanges where LTC is traded, and LTC community is orders of magnitude bigger compared to the other coins, but I'm not going to take that risk with the majority of my holdings... Just with a tiny fraction that I will hold for the lulz. I'm assuming people will buy like crazy when there will be an official ETA to Gox, and in my book that's the best time to sell, when everybody is buying enthusiastically and bullishly. Yeah that makes sense. Although many people won't be buying before it hits Gox. So as soon as it hits it my guess is there will be panic buying that will double the price. We'll see. Rampion may be correct to sell shortly before LTC hits Gox (sell on the news). But, there are going to be a lot of people who will want LTC that don't currently have them. S3052 may very well be right in that the price will jump to $4-$6 per LTC. I picked up some today (even though I was initially against it), it is a gamble as I think BTC is going down from here, but hopefully LTC goes up enough to overcome that. I think it will get there even before hitting Gox. And to 10 dollars (for a very short time) once on Gox. Damn, I just bought! Dude, i'm just guessing. Please don't take any of this seriously. |
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rdsc
Newbie
Offline
Activity: 42
Merit: 0
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June 23, 2013, 05:41:38 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. If the definition "facilitating the the transfer of money domestically or internationally outside of the conventional financial institutions system" is sufficient for them to build a case, then I think this is a serious challenge. Funding the infrastructure and developing the code-base has to meet a definition of "facilitating" I would have thought. |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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June 23, 2013, 05:43:11 PM |
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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-RequestsSeems 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? Because normally all the pump&dump scam coins raise before they hit the exchanges, to fall hard as soon as they hit it. I guess everybody buys on the news this or that scam coin will hit an exchange (normally BTC-e), and then everybody immediately dumps it, as all the "investors" are only after the quick buck... It *may* be different for LTC and Gox, as this exchange has a huge user base that might never use the their exchanges where LTC is traded, and LTC community is orders of magnitude bigger compared to the other coins, but I'm not going to take that risk with the majority of my holdings... Just with a tiny fraction that I will hold for the lulz. I'm assuming people will buy like crazy when there will be an official ETA to Gox, and in my book that's the best time to sell, when everybody is buying enthusiastically and bullishly. Yeah that makes sense. Although many people won't be buying before it hits Gox. So as soon as it hits it my guess is there will be panic buying that will double the price. We'll see. Rampion may be correct to sell shortly before LTC hits Gox (sell on the news). But, there are going to be a lot of people who will want LTC that don't currently have them. S3052 may very well be right in that the price will jump to $4-$6 per LTC. I picked up some today (even though I was initially against it), it is a gamble as I think BTC is going down from here, but hopefully LTC goes up enough to overcome that. I think it will get there even before hitting Gox. And to 10 dollars (for a very short time) once on Gox. Damn, I just bought! Dude, i'm just guessing. Please don't take any of this seriously. 2BTC won't hurt much (I think....) |
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QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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June 23, 2013, 05:44:43 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. The point here is: They are a conglomerate of mtgox, bitpay and others which do fit the term money transmitter. What if the state already knows they aren't a money transmitter but are looking to engage the membership all at once. Some of them are money transmitters. Remember, California is broke. Fines represent real income for the state. On a side note, they just raised the parking meter violation fine next to my house in SF. It's $90 now! This place is fucked! |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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June 23, 2013, 05:45:56 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. The point here is: They are a conglomerate of mtgox, bitpay and others which do fit the term money transmitter. What if the state already knows they aren't a money transmitter but are looking to engage the membership all at once. Some of them are money transmitters. Remember, California is broke. Fines represent real income for the state. On a side note, they just raised the parking meter violation fine next to my house in SF. It's $90 now! This place is fucked! What the hell happened with Arnold? I like this dude (I am not US citizen)... |
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Pale Phoenix
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June 23, 2013, 05:49:07 PM |
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Wasn't it you who mentioned that they were mining? Technically (afaik), that qualifies as "transmitting money."
I hadn't heard that they were mining, but that could subject them to the law if they sell their mined BTC. I can't imagine they would do that after reading the FinCen guidelines. |
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ElectricMucus
Legendary
Offline
Activity: 1666
Merit: 1057
Marketing manager - GO MP
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June 23, 2013, 05:51:39 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. The point here is: They are a conglomerate of mtgox, bitpay and others which do fit the term money transmitter. What if the state already knows they aren't a money transmitter but are looking to engage the membership all at once. Some of them are money transmitters. Remember, California is broke. Fines represent real income for the state. On a side note, they just raised the parking meter violation fine next to my house in SF. It's $90 now! This place is fucked! Yes that also makes sense, understanding how Buerocrats think isn't that hard... |
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QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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June 23, 2013, 05:53:33 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. The point here is: They are a conglomerate of mtgox, bitpay and others which do fit the term money transmitter. What if the state already knows they aren't a money transmitter but are looking to engage the membership all at once. Some of them are money transmitters. Remember, California is broke. Fines represent real income for the state. On a side note, they just raised the parking meter violation fine next to my house in SF. It's $90 now! This place is fucked! What the hell happened with Arnold? I like this dude (I am not US citizen)... He got caught making a baby with his house keeper. No joke. |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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June 23, 2013, 05:54:12 PM |
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But there is any specific reasons of why they are "transmitting money" in the document? Can't read it all now.
No, there is no specific allegation in the document, just a general admonishment against violating the statute. California clearly has their wires crossed because, even under the most expansive interpretation of the law, the foundation is not a money transmitter. They cannot be a money transmitter simply for advocating for Bitcoin as there are first amendment issues preventing regulation of that type of speech. The point here is: They are a conglomerate of mtgox, bitpay and others which do fit the term money transmitter. What if the state already knows they aren't a money transmitter but are looking to engage the membership all at once. Some of them are money transmitters. Remember, California is broke. Fines represent real income for the state. On a side note, they just raised the parking meter violation fine next to my house in SF. It's $90 now! This place is fucked! What the hell happened with Arnold? I like this dude (I am not US citizen)... He got caught making a baby with his house keeper. No joke. LMAO I had forgot about that one! |
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ChartBuddy
Legendary
Offline
Activity: 2170
Merit: 1759
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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June 23, 2013, 06:00:25 PM |
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QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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June 23, 2013, 06:00:52 PM |
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And not just his housekeeper, go look up a picture of her.
Unbelievable.
I kind of miss the Govenator. |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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June 23, 2013, 06:01:16 PM |
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And not just his housekeeper, go look up a picture of her.
Unbelievable.
Down Down Down!!  Well this is the price of injecting supraridiculous doses of Test on your butt! |
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kickinyou
Member
Offline
Activity: 93
Merit: 10
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June 23, 2013, 06:02:44 PM |
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Now we will see some dumps !
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