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Author Topic: What Litecoin means for Bitcoin (and crypto in general) once it's on Mt.Gox  (Read 8297 times)
stdset
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June 24, 2013, 11:57:35 PM
 #101

Bitcoin has already won, you idiot.

Bitcoin is still in it's infancy. If bitcoin wins you'll notice it by price going to hundreds of thousands of dollars a coin. Bitcoin still can be killed.

Thank you though for doing a business accepting bitcoin. I also accept bitcoins for coding services I provide, and I'm not going to ever accept Litecoin.

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Vivisector999
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June 25, 2013, 12:35:19 AM
 #102

Bitcoin has already won, you idiot.

Bitcoin is still in it's infancy. If bitcoin wins you'll notice it by price going to hundreds of thousands of dollars a coin. Bitcoin still can be killed.

To be true, I think Bitcoin and all current cryptocoins will stay what they are. An experiment. There is no way top 1% will accept some computer
geeks, especialy liberitarians and anarchysts, becoming new wealthy class. Those at top right now will do everything in their power to stay there.
Bitcoin and all current cryptocoins will not be killed or overtaken but made obsolete by global currencies mandatory on every step, controlled and
tracked by elite.

Thank you though for doing a business accepting bitcoin. I also accept bitcoins for coding services I provide, and I'm not going to ever accept Litecoin.

Bitcoin Megastore does not accept bitcoins since it is part of the CafePress which does not accept bitcoins. It helps promoting Bitcoin though.

Wow finally something we can both agree on.  And I have said it many times already.  There is no way that Bitcoin will become the all out defacto World currency, even though that is what a lot of people on this site seem to believe.   

Check out AC3  @ https://ac3.io/
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June 25, 2013, 08:44:53 AM
 #103

Do you retarded litecoin supporters think adding feathercoin to mtgox would help eliminate arb opportunities too?  How about ixcoin?  Adding litecoin would only help arbitrage if the litecoin market cap was LARGER THAN BITCOIN.  Adding a tiny market to an exchange does nothing to smooth rates out because so little money can be funneled through the link before it creates another differential and arbitrage opportunity there.  Adding USD as an option, however, MASSIVELY helps smooth out arbitrage opportunites because USD market cap is way bigger than bitcoin so nothing happens to the USD market when you send 100k USD from japan to bitstamp for an arb.  The arb opportunities only exist because of the fees and wait time associated with sending USD wires.

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tycho
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June 25, 2013, 03:48:27 PM
 #104

Can you explain to me how you can use litecoins to speed up the arbitrage trade I discussed bearing in mind that all the historical evidence suggests LTC/BTC rates will be almost the same across all exchanges.

My thought is that having LTC listed on Mt. Gox will drive down the gap in USD prices, since historically the gap in prices between exchanges where both BTC and an alt are listed has been smaller than the gap between Mt. Gox and said exchanges. (This could be because of volume, or any one of another ten million reasons, though; obviously it's just a guess.)

Do you retarded litecoin supporters think adding feathercoin to mtgox would help eliminate arb opportunities too?  How about ixcoin?  Adding litecoin would only help arbitrage if the litecoin market cap was LARGER THAN BITCOIN.  Adding a tiny market to an exchange does nothing to smooth rates out because so little money can be funneled through the link before it creates another differential and arbitrage opportunity there.  Adding USD as an option, however, MASSIVELY helps smooth out arbitrage opportunites because USD market cap is way bigger than bitcoin so nothing happens to the USD market when you send 100k USD from japan to bitstamp for an arb.  The arb opportunities only exist because of the fees and wait time associated with sending USD wires.

This is an interesting point, but it's only valid if the volume on Mt. Gox is larger than LTC's market cap, which it is not (it's < 20%). Since most people involved in LTC right now are presumably speculators, it stands to reason that LTC has enough room to absorb the arbitrage, which will be significantly less than even Mt. Gox' daily volume.
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June 25, 2013, 05:26:23 PM
 #105

Do you retarded litecoin supporters think adding feathercoin to mtgox would help eliminate arb opportunities too?  How about ixcoin?  Adding litecoin would only help arbitrage if the litecoin market cap was LARGER THAN BITCOIN.  Adding a tiny market to an exchange does nothing to smooth rates out because so little money can be funneled through the link before it creates another differential and arbitrage opportunity there.  Adding USD as an option, however, MASSIVELY helps smooth out arbitrage opportunites because USD market cap is way bigger than bitcoin so nothing happens to the USD market when you send 100k USD from japan to bitstamp for an arb.  The arb opportunities only exist because of the fees and wait time associated with sending USD wires.

This is an interesting point, but it's only valid if the volume on Mt. Gox is larger than LTC's market cap, which it is not (it's < 20%). Since most people involved in LTC right now are presumably speculators, it stands to reason that LTC has enough room to absorb the arbitrage, which will be significantly less than even Mt. Gox' daily volume.

Comparing TRADING VOLUME to MARKET CAP is irrelevant.  We are talking about arbs.  Comparing MARKET DEPTH between mtgox and litecoin would be relevant.  The arbs currently exist between BTC/USD on mtgox and BTC/USD on bitstamp.  Adding tiny markets for LTC/USD or LTC/BTC will not help, and neither would it help to add IXC/BTC.  The second anyone moves a decent amount of money through the alt-pairs to take advantage of the arb, a LARGER arb will be created in the alt-pair than exists for BTC/USD.  This is because the alt-pairs have no market depth.  If several exchanges added GBP/USD, that could help with arbs since GBP is a huge market and UK bank transfers take <2hr.  I can't believe this thread hasn't gotten moved.  How is a thread where people argue "Adding (currency with tiny market cap) means more efficient arbs" allowed to pollute the main bitcointalk forum?

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June 25, 2013, 06:10:46 PM
 #106

Lets go back to what everyone really cares about. where do you think LTC will peak? My bet is 18 USD by end of the year
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June 25, 2013, 06:26:50 PM
 #107

Lol this Seth guy is clueless.

Just because Litecoin can't (yet) be used for million dollar arbitrage possibilities does not make Litecoin useless as an arbitrage tool. It will be used successfully for small arbitrage that the order books allow.

You're also basing things on the current market cap of 2.7% which Litecoin enjoys. That could easily go up a lot when it starts being traded on mtgox, more bitcoin accepting merchants start accepting it, people use it for arbitrage, publicity sky rockets as the press report on it more etc etc.

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June 25, 2013, 07:15:49 PM
 #108

Man, the bitcoin'er are geting desperate. See that free money slipping away. Grin Cheesy
Vivisector999
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June 25, 2013, 07:22:47 PM
 #109

Don't need much more proof than this that Alt-currencies will needed in the future.  Especially if Bitcoin ever takes off.

https://bitcointalk.org/index.php?topic=196138.0


Also, another added benefit of alt-coins are the fact that they aren't Bitcoins.  With the US gov't having Bitcoin as their latest target, every transaction is going to be scrutinized and there will be more and more sites being shutdown for using/accepting Bitcoins.  Who knows, if they become desperate enough, they may just 51% it to take it out right away.


Check out AC3  @ https://ac3.io/
Seth Otterstad
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June 25, 2013, 08:30:42 PM
 #110

Lol this Seth guy is clueless.

Just because Litecoin can't (yet) be used for million dollar arbitrage possibilities does not make Litecoin useless as an arbitrage tool. It will be used successfully for small arbitrage that the order books allow.

You're also basing things on the current market cap of 2.7% which Litecoin enjoys. That could easily go up a lot when it starts being traded on mtgox, more bitcoin accepting merchants start accepting it, people use it for arbitrage, publicity sky rockets as the press report on it more etc etc.

So litecoin can't be used for significant arbitrage now, but it will when it starts to overtake bitcoin.  Litecoin has been around for almost 2 years and isn't even close to 100 merchants, but ANY DAY NOW IT'S ABOUT TO EXPLODE.  JUST WAIT AND SEE.

lol.  Litecoiners are so delusional.

EDIT:  oh good, the thread got moved to the right forum.  What took so long?

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June 25, 2013, 08:33:22 PM
 #111

Don't need much more proof than this that Alt-currencies will needed in the future.  Especially if Bitcoin ever takes off.

https://bitcointalk.org/index.php?topic=196138.0


Also, another added benefit of alt-coins are the fact that they aren't Bitcoins.  With the US gov't having Bitcoin as their latest target, every transaction is going to be scrutinized and there will be more and more sites being shutdown for using/accepting Bitcoins.  Who knows, if they become desperate enough, they may just 51% it to take it out right away.



Everything that applies to Bitcoin applies to Litecoin.  FinCEN doesn't even name Bitcoin by name.  The guidance refers to "decentralized virtual currencies".
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July 03, 2013, 02:46:08 AM
 #112

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July 03, 2013, 02:55:04 AM
 #113

Really this arguing is giving me a headache.

NONE OF YOU CAN PREDICT THE FUCKING FUTURE

People have been saying LTC will be worthless in 2011; it's now almost $3 each.

People are still saying that.

It might be true, it might not be.

If you knew, you won't be here right now; you'll be either hoarding it or dumping it, and you certainly won't be fucking tell anyone else.

Stop trying to impose your "knowledge" on other people, because truth is, your guess is just as good as the shit that comes out of my ass.





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Breen2543
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July 03, 2013, 03:00:24 AM
 #114

Really this arguing is giving me a headache.

NONE OF YOU CAN PREDICT THE FUCKING FUTURE

People have been saying LTC will be worthless in 2011; it's now almost $3 each.

People are still saying that.

It might be true, it might not be.

If you knew, you won't be here right now; you'll be either hoarding it or dumping it, and you certainly won't be fucking tell anyone else.

Stop trying to impose your "knowledge" on other people, because truth is, your guess is just as good as the shit that comes out of my ass.




+1
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July 21, 2013, 06:31:39 PM
 #115

https://xrptalk.org/topic/211-conspiracy-theory-mtgox-becoming-a-ripple-gateway/
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