Litecoin on Mtgox

[exzellenz]

[escrow.ms]

I don't think they will add it. Probably in future but not so soon.

[Rycco]

GO MTGOX PLEASE ADD LTC!!! 

[autodidactic]

They're not going to add it soon because the trade volume isn't even high enough. To many people are hoarding coins they're going to ruin the entire monetary system.

[MaGNeT]

They're not going to add it soon because the trade volume isn't even high enough. To many people are hoarding coins they're going to ruin the entire monetary system.

B*llsh*t.

[Streets 2.0]

They're not going to add it soon because the trade volume isn't even high enough. To many people are hoarding coins they're going to ruin the entire monetary system.

B*llsh*t.

Yeah, well, supposedly it is July now.  This is from Gox's facebook page 20+ hrs ago

Like





MtGox · 11,862 like this
23 hours ago · ..




Dear Mt. Gox Customers and Bitcoiners,

 The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

 1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

 2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

 3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others.

 4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

 5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

 7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

 While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

[nviere]

They're not going to add it soon because the trade volume isn't even high enough. To many people are hoarding coins they're going to ruin the entire monetary system.

B*llsh*t.

Yeah, well, supposedly it is July now.  This is from Gox's facebook page 20+ hrs ago

Like




MtGox · 11,862 like this
23 hours ago · ..




Dear Mt. Gox Customers and Bitcoiners,

 The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

 1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

 2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

 3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others.

 4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

 5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

 7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

 While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

The engine refers to Bitcoin

[mmitech]

The engine refers to Bitcoin

the new trading engine is for trading, Actually your post doesn't make any sense, I have no idea how to explain it to you.

[nviere]

The engine refers to Bitcoin

the new treading engine is for trading, Actually your post doesn't make any sense, I have no idea how to explain it to you.

It refers to the bitcoin trading engine not the litecoin trading engine

[MaGNeT]

The engine refers to Bitcoin

the new treading engine is for trading, Actually your post doesn't make any sense, I have no idea how to explain it to you.

It refers to the bitcoin trading engine not the litecoin trading engine

It refers to the trading engine, for every coin they trade. New coins will be on the same trading engine, or they can't be traded against each other, what wouldn't make sense.

[hathmill]

I think gox know far to well that they are loosing customers. I think their new trading engine could be very good and also they legal challenges that they face gives them lots of know how in that space. Basically I dont think they will evaporate. I do think they will add Ltc to get back customers and to expand their user base. This big pool of liquidity well make it easier for x-pay services which will enable merchants ltc adoption. I am super bullish on litecoins.

[Breen2543]

I thought Mtgox will add LTC on may but they didn't

[erk]

I don't think it will happen soon. Mtgox is in trouble with Bitcoin.

Did you not bother to read the release from Mt Gox that was just posted above?

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

July sounds pretty soon to me.

This is their first confirmation that they are proceeding with LTC, as a result the price of LTC jumped from $2.25 to $3 pretty quickly.

[Cyberdyne]

The engine refers to Bitcoin

the new treading engine is for trading

New treading engine?

[mmitech]

The engine refers to Bitcoin

the new treading engine is for trading

New treading engine?

I fixed it 

[autodidactic]

I don't believe they're adding it on any time soon, but perhaps within the year.

[jdebunt]

well it wouldn't be the first time something gets 'leaked' & then just doesn't happen, so i'm not getting my hopes up yet

[Taxidermista]

I don't believe they're adding it on any time soon, but perhaps within the year.

It will be added in a month or less.

[nviere]

What the hell is this:
twitter.com/MtGox/status/351003666498592768

Mtgox is not the most reliable site once again.

[mr_random]

What the hell is this:
twitter.com/MtGox/status/351003666498592768

Mtgox is not the most reliable site once again.

That twitter has said litecoin isn't happening twice already in the last month. They actually said they won't be supporting other cryptocurrencies. A few days later they said the opposite on Facebook.

35,000 BTC worth of LTC were traded on btc-e in the last 24 hours. That's close to mtgox's total trading volume for the day and on a smaller platform. There is no way they won't take on Litecoin. That said I still think there is a 50% chance LTC support will slip back to August.