Litecoin on Mtgox finally..?

[Cyberdyne]

This isn't trollbox  

LTC to the moon!


~BCX~

You mean arise chikun?

[Eb0la]

I still stand by what I said.

Disclaimer

Bought under 2.09.. Sold 2.75..Bought 2.50.. Sold 3.06... bought 2.94  sold 3.29.. bought 2.98.. sold 3.21..

Thanks for the gains.  Its been fun.
Looking forward to many more!

[Mr.V]

You think they were quietly buying up litecoin during its low before the announcment and sold during the pump?

[Taxidermista]

You think they were quietly buying up litecoin during its low before the announcment and sold during the pump?

No. They were buying, they are still buying and they will sell when LTC reaches Mtgox.

[Slipage]

You think they were quietly buying up litecoin during its low before the announcment and sold during the pump?

No. They were buying, they are still buying and they will sell when LTC reaches Mtgox.

That is the main issue here. The fact is almost everyone hope they will sell at profit but that is not possible. Wanna tell me about price few hours
after dump starts? It will be epic dump, that is for sure, and sooooo many will regret entering LTC market. Given that LTC is still nothing more but
speculation vehicle, e.g. there are not enough uses for it to have high non-speculative demand, it is guaranteed that price won't be up for long.

Given that many noob traders (read as "PANICCCCCCCC SELLLLLLLLLLLLL NAOOOOO") hold a lot of LTC, it is quite possible LTC will hit all time low.

I see your user name bitcoin megastore.
I see your signature
I see all your posts continuing bagging out litecoin with no real arguments.
I see a conflict of interest here.
I see you protect anything that may effect your precious bitcoin MEGA STORE
I see you a waste of space self promoting your own interest
I see you for what you are!

[kmarinas86]

The ordinary concept of a currency exchange, which bases itself on the value at which different currencies at traded at with respect to one another, is an old inferior concept that needs to disappear.

It's a waste of time and not important for the development of a proper cyrpto-currency.

A much better solution would be an exchange where you own share of the cyrpto-currencies simultaneously coming in. Shares can be issued for the first time the same way that coins are mined into existence, or using a similar system to PPCoin (or the reverse, which is an inverse proof-of-stake method).

To purchase a share, you contribute a certain amount of cyprto-currency flux. There are some people who are trying to deplete their shares in exchange for cyrpto-currencies. Those are the shares that are available.

If you have 200 people contributing flux and 100 people disposing of their shares, then these 200 people are competing for the shares being depleted by those 100 people.

In other words, an exchange can be a hedge against volatility in the unconventional sense in that you are purchasing a share of flux.

If there 1000 shares of flux being depleted, and if you are contributing 1% of total new flux, you get 1% of the flux currently being depleted. This translates into 10 shares. Of course, the number of shares being depleted can change overtime, and therefore, so would the number of actual shares you get.

When markets go up, you can expect more cyrpto-currency flux to go through, so disposing of your shares would allow you to draw-out additional cyrpto-currency. This then sends the shares to the people who are contributing new cyrpto-currency flux. In terms of profiting from the trade, this includes both people who withdraw from the shares and those who obtain the shares, as these somewhat dilute the value of those shares that are still being held away from the exchange. However, this dilution is balanced out by condition that the market for cypro-currency is going up, and therefore the prices of the shares is self-stabilized and resilient against any pump and dump scheme.

When the influx of cyrpto-currencies goes down, then people would be more likely to save their shares until the flux increases again. Those who decide to withdraw their shares anyway will find less company, and therefore be able to capture a greater percentage of influx of cyrpto-currencies. Furthermore, fewer shares being depleted at the same time means that a reduced currency flux meets a reduced available share quantity, stabilizing the value of each share, even in down markets.

[cdog]

That is the main issue here. The fact is almost everyone hope they will sell at profit but that is not possible.

First of all, why would the miners who hold a lot of coins want to sell, when the value is clearly about to begin another long term upswing?

We dont want dollars. We want to hold our LTC or start spending them on goods and services. Selling them for $5 isnt part of the plan.

Secondly, when LTC hits Gox, its going to open up LTC to a HUGE group of traders who would never goto BTC-e or other sites.

[AtomSea]

Anyone hear any new developments?
My Litecoin Love cannot be quenched.... hahahaha 

[milly6]

Here would be a huge leap of innovation:

if they could so much as give you the choice of locking your account down to a single bitcoin address (or a predetermined set of addresses) so thieves who successfully break into an account can't clean it out.  That would instantly wipe out all of the newbies who come to the forum complaining they've been robbed and told by mtgox support to file a police report.

I know, I know, that's extremely difficult, which is why my suggestion is more than a year old and hasn't been implemented.  But adding Litecoin support is so much easier and will really be a new leap in innovation!

Casascius, could you point to a thread where you/anyone discussed a process "of locking your account down to a single bitcoin address" to be used by exchanges, to manage thefts issues.

Its already utilized on several pools. Not a hard concept and works wonders.