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Author Topic: ► ► ► LTC IPO: Litecoin's Pre-Gox Project, fontas ► ► ►  (Read 21203 times)
fontas (OP)
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July 10, 2013, 02:04:35 PM
Last edit: October 13, 2013, 01:55:08 AM by fontas
 #1

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July 10, 2013, 02:23:29 PM
 #2

w00t w00t in the..

Bitrated user: blastbob.
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July 10, 2013, 02:37:45 PM
 #3

The key is to mine with all machines, maximizing hash rate between Adj1 and Adj2. Right after Adj2 happens, turn the mining machines away, either mining other coins or turned off completely until Adj3. After Adj3, normal mining can resume.

With the high difficulty and low network hashrate, blocks will not be solved. That means when LTC holders try to transfer LTC to Gox to sell, it will take hours before the confirmations come in. As a result, a large amount of LTC is stuck in limbo, on the way to the Gox wallet but unconfirmed by the lagging blockchain.

That would damage LTC's reputation & possibly get Gox to drop it straight away.

So, most LTC miners won't do it.

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July 10, 2013, 02:41:11 PM
 #4

Here we go again....
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July 10, 2013, 03:15:57 PM
Last edit: July 10, 2013, 03:33:09 PM by RandyMagnum
 #5

Litecoin Forum » Other » Scams and Fraud - Even the LTC staff chimed in on this

and here: http://www.reddit.com/r/litecoin/comments/1h741v/fontas_how_to_guide_others_into_falling_victim_to/?sort=new
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July 10, 2013, 03:27:40 PM
Last edit: July 10, 2013, 03:43:30 PM by digitalindustry
 #6




^^^^

This = LOL



- Twitter @Kolin_Quark
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July 10, 2013, 03:32:13 PM
 #7

I can't agree with trying to slow the network down - one of the best features of litecoin is that it is secure. If somebody were to plan a 51% attack to coincide with this plan and hash rate went down enough, the reputation of litecoin would be ruined.
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July 10, 2013, 03:34:31 PM
 #8

What you're doing here will probably prevent MtGox from ever listing LTC you noob
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July 10, 2013, 03:50:17 PM
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Take a walk, kid.
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July 10, 2013, 03:53:51 PM
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hmm forum is harsh these days , for a young fonta and his pumping ways ..

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July 10, 2013, 04:00:11 PM
 #11



[LTC IPO]: Litecoin's Pre-Gox Project
Contents
I. Introduction
II. Effects of Pumps
III. The Plan: LTC IPO
   a) Investor Interest
   b) The Pre-Gox Pump
   c) Miner coordination
IV. Information and Contact


I. Introduction


MtGox support of Litecoin has been officially announced on their Facebook page with a tentative July release date.

This project, named LTC IPO, coincides with the MtGox support date, bringing forth a coordinated effort to put LTC Litecoin in the spotlight for good, legitimize the coin, and generate interest in its potential as a serious competitor to BTC and one of the leading tools in digital commerce.

We all know what will happen when Gox supports LTC: Price will rise immensely and more investors and developers become interested. This project serves to amplify the effect through three distinct paths: Investor interest, a pump (large price increase), and miner coordination.

Perhaps the Gox support event in conjunction with this LTC IPO project may kick off the first LTC bubble, in the style of $1-$32 BTC.

========================================================

II. Effects of Pumps


I am Fontas. You may know me from the BTC-e chatbox, where I organized many pumps of alt coins through twitter (@fontase) during the months of April and May. I brought TRC 1400% up, DVC 600% up, NMC 730% up, NVC permanently 50% up, and contributed to the LTC rise of April 1.

Remember the day TRC and PPC gained BTC-e support? April 4th 2013. There was a TRC pump to coincide with the BTC-e support of the coin. The effect of the hype was enormous, and TRC rose from a pre-pump low of 0.0008 on Vircurex to a high of 0.017 on BTC-e. That's a gain of 2025%.

In contrast, PPC, which was supported on the same day, did not experience the same rise. Without a pump and hype campaign, it rose on its own from a low of 0.0011 to a high of 0.00349. While a rise of 3.17x is still very respectable, the effect of a hype campaign and pump for TRC resulted in a rise nearly an order of magnitude more violent.

The effects of the TRC IPO pump were felt for months, and TRC remained in the general price range high above PPC. The 3 day TRC pump project, which I spent just 400 BTC on, resulted in the creation of hundreds of thousands of dollars of market cap.

The same can be done with LTC. If there is no pre-IPO pump, LTC will rise to perhaps $7 and top out, just like PPC. If there is indeed a pump, LTC could rise as much as TRC, reaching comfortably into the double digits. Interest in the coin would explode, bringing new talent and investment.

========================================================

III. The Plan: LTC IPO


There are three parts to the plan.

=============

III. 1) Investor Interest

First, we need to make sure the LTC engine is running full steam on the days leading up to the IPO. Investors and institutions need to have LTC on their watchlists. They have seen BTC bubble from $1 to $32 in the span of 2 months. They have seen BTC grow from $13 to $266 in 4 months. They know the potential of cryptocurrencies in general, and will not want to miss the next train coming around. But they won't hop on board if they don't know about it.

BTC has been in a steady decline since the $266 peak, seeing a string of red candles. Investors are getting antsy, and many pure BTC holders doubt their position. Perhaps a new opportunity presented to them will convince them to diversify into LTC.

To do this, we can contact:
Cryptocurrency podcasts (Let's Talk Bitcoin)
Online Courses (Coursera, Khan Academy) (Note: Stanford has a Bitcoin Group, and also hosts the popular online course to create a tech startup funded by Bitcoins)
News networks (News like this is great)
Youtube channels (The Bitcoin Channel, Mad Bitcoins)
Bitcoin price forecast networks (S3052 is already very bullish on LTC. Perhaps we can also interest the influential chinese blogger 796)
Bitcointalk forums (speculation board, altcoin section)
Bitcoin/Crypto meetups
If Bloomberg and Forbes (Jon Matonis in particular ) cover Litecoin, it will be huge. The focus is to detail exactly why LTC is either equal to or superior to BTC (Scrypt security, faster confirmation times, very active development team), and its potential to be used in everyday digital transactions.

Many VPN providers, such as AirVPN and PrivateInternetAccess, have embraced BTC as a way to increase customer anonymity and privacy. They would be quick to adopt LTC as well.

=============

III. 2) The Pre-Gox Pump ("What can I do with all my LTC/BTC/USD?")

An analysis of trading volume during past rallies indicates that around $780 000 is necessary for each dollar of temporary rise, and $0.35 of permanent rise.  
That is, for each $780 000 of market power, LTC will spike up another $1 and its long term bottom will be $0.35 higher.

I will be dedicating my cold storage BTC to this effort, for I know the positive effect it would have on my LTC holdings.


To pump the coin, there are two major steps.

The first step, remove LTC sell orders, remove sell walls, then place market buy orders using USD and BTC reserves. Large sell walls in particular, >10000 LTC, have the power to cripple a rally. Thus they must be bought up in a timely manner. If they do not fall in time, a psychological barrier may develop, impeding future price movement and slowing down the rally momentum.

The second step, after the LTC price has risen significantly, is to stop making market orders with the USD and BTC reserves, instead opting to create limit buy orders, creating buy walls. The larger, more consolidated the orders, the better. For example, one 14000 LTC buy wall is more significant than four 3500 LTC buy walls separated by a few cents of difference. It acts to create a psychological barrier to a price drop, forms support for the new higher price, and decreases downward volatility. Sellers will not sell for less than the wall price, and buyers will buy above the wall, knowing the price is unlikely to drop beneath it.

In essence: First, we make market buy orders with USD and BTC, pushing price up. Then, we make limit buy orders with USD and BTC, keeping price high. When looking to sell, we split up LTC sell orders into smaller orders.

=============

III. 3) Miner coordination


This part of the plan has been reconsidered and cancelled. Not enough hash power for a significant effect.

========================================================

IV. Information and Contact


Gox has only announced LTC support in July. Currently I estimate a late July or early August launch, with a LTC/USD market.

As more information comes around, I will update the plan accordingly. I am discussing the plan with other large holders of both BTC and LTC through BTC-e PM (fontas) and Bitcointalk PM here (fontas).

wow just wow

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July 10, 2013, 04:00:48 PM
 #12

How high will it go then, fontas?  Grin
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July 10, 2013, 04:07:12 PM
 #13

Why did you stop pumping TRC, NMC and other coins?

Could LTC go to $25?
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July 10, 2013, 04:10:19 PM
 #14

Why did you stop pumping TRC, NMC and other coins?

Could LTC go to $25?

ahh ,  I'm going to leave this one for the kiddies to figure out.

it all sounds very promising but, and i agree that more exposure could indeed lead to a rise in price.

- Twitter @Kolin_Quark
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July 10, 2013, 04:10:37 PM
 #15



[LTC IPO]: Litecoin's Pre-Gox Project
Contents
I. Introduction
II. Effects of Pumps
III. The Plan: LTC IPO
   a) Investor Interest
   b) The Pre-Gox Pump
   c) Miner coordination
IV. Information and Contact


I. Introduction


MtGox support of Litecoin has been officially announced on their Facebook page with a tentative July release date.

This project, named LTC IPO, coincides with the MtGox support date, bringing forth a coordinated effort to put LTC Litecoin in the spotlight for good, legitimize the coin, and generate interest in its potential as a serious competitor to BTC and one of the leading tools in digital commerce.

We all know what will happen when Gox supports LTC: Price will rise immensely and more investors and developers become interested. This project serves to amplify the effect through three distinct paths: Investor interest, a pump (large price increase), and miner coordination.

Perhaps the Gox support event in conjunction with this LTC IPO project may kick off the first LTC bubble, in the style of $1-$32 BTC.

========================================================

II. Effects of Pumps


I am Fontas. You may know me from the BTC-e chatbox, where I organized many pumps of alt coins through twitter (@fontase) during the months of April and May. I brought TRC 1400% up, DVC 600% up, NMC 730% up, NVC permanently 50% up, and contributed to the LTC rise of April 1.

Remember the day TRC and PPC gained BTC-e support? April 4th 2013. There was a TRC pump to coincide with the BTC-e support of the coin. The effect of the hype was enormous, and TRC rose from a pre-pump low of 0.0008 on Vircurex to a high of 0.017 on BTC-e. That's a gain of 2025%.

In contrast, PPC, which was supported on the same day, did not experience the same rise. Without a pump and hype campaign, it rose on its own from a low of 0.0011 to a high of 0.00349. While a rise of 3.17x is still very respectable, the effect of a hype campaign and pump for TRC resulted in a rise nearly an order of magnitude more violent.

The effects of the TRC IPO pump were felt for months, and TRC remained in the general price range high above PPC. The 3 day TRC pump project, which I spent just 400 BTC on, resulted in the creation of hundreds of thousands of dollars of market cap.

The same can be done with LTC. If there is no pre-IPO pump, LTC will rise to perhaps $7 and top out, just like PPC. If there is indeed a pump, LTC could rise as much as TRC, reaching comfortably into the double digits. Interest in the coin would explode, bringing new talent and investment.

========================================================

III. The Plan: LTC IPO


There are three parts to the plan.

=============

III. 1) Investor Interest

First, we need to make sure the LTC engine is running full steam on the days leading up to the IPO. Investors and institutions need to have LTC on their watchlists. They have seen BTC bubble from $1 to $32 in the span of 2 months. They have seen BTC grow from $13 to $266 in 4 months. They know the potential of cryptocurrencies in general, and will not want to miss the next train coming around. But they won't hop on board if they don't know about it.

BTC has been in a steady decline since the $266 peak, seeing a string of red candles. Investors are getting antsy, and many pure BTC holders doubt their position. Perhaps a new opportunity presented to them will convince them to diversify into LTC.

To do this, we can contact:
Cryptocurrency podcasts (Let's Talk Bitcoin)
Online Courses (Coursera, Khan Academy) (Note: Stanford has a Bitcoin Group, and also hosts the popular online course to create a tech startup funded by Bitcoins)
News networks (News like this is great)
Youtube channels (The Bitcoin Channel, Mad Bitcoins)
Bitcoin price forecast networks (S3052 is already very bullish on LTC. Perhaps we can also interest the influential chinese blogger 796)
Bitcointalk forums (speculation board, altcoin section)
Bitcoin/Crypto meetups
If Bloomberg and Forbes (Jon Matonis in particular ) cover Litecoin, it will be huge. The focus is to detail exactly why LTC is either equal to or superior to BTC (Scrypt security, faster confirmation times, very active development team), and its potential to be used in everyday digital transactions.

Many VPN providers, such as AirVPN and PrivateInternetAccess, have embraced BTC as a way to increase customer anonymity and privacy. They would be quick to adopt LTC as well.

=============

III. 2) The Pre-Gox Pump ("What can I do with all my LTC/BTC/USD?")

An analysis of trading volume during past rallies indicates that around $780 000 is necessary for each dollar of temporary rise, and $0.35 of permanent rise.  
That is, for each $780 000 of market power, LTC will spike up another $1 and its long term bottom will be $0.35 higher.

I will be dedicating my cold storage BTC to this effort, for I know the positive effect it would have on my LTC holdings.


To pump the coin, there are two major steps.

The first step, remove LTC sell orders, remove sell walls, then place market buy orders using USD and BTC reserves. Large sell walls in particular, >10000 LTC, have the power to cripple a rally. Thus they must be bought up in a timely manner. If they do not fall in time, a psychological barrier may develop, impeding future price movement and slowing down the rally momentum.

The second step, after the LTC price has risen significantly, is to stop making market orders with the USD and BTC reserves, instead opting to create limit buy orders, creating buy walls. The larger, more consolidated the orders, the better. For example, one 14000 LTC buy wall is more significant than four 3500 LTC buy walls separated by a few cents of difference. It acts to create a psychological barrier to a price drop, forms support for the new higher price, and decreases downward volatility. Sellers will not sell for less than the wall price, and buyers will buy above the wall, knowing the price is unlikely to drop beneath it.

In essence: First, we make market buy orders with USD and BTC, pushing price up. Then, we make limit buy orders with USD and BTC, keeping price high. When looking to sell, we split up LTC sell orders into smaller orders.

=============

III. 3) Miner coordination


This part of the plan has been reconsidered and cancelled. Not enough hash power for a significant effect.

========================================================

IV. Information and Contact


Gox has only announced LTC support in July. Currently I estimate a late July or early August launch, with a LTC/USD market.

As more information comes around, I will update the plan accordingly. I am discussing the plan with other large holders of both BTC and LTC through BTC-e PM (fontas) and Bitcointalk PM here (fontas).

fontas you are a dirty piece of shit. you never done anthing related to alt coin. You are just waiting a dump^then saying you are dumping , you are waiting for a rise then claiming you are pumping. Just shut the fuck up you are an entertainment for newbies and dummies.
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July 10, 2013, 04:21:15 PM
 #16

Why did you stop pumping TRC, NMC and other coins?

Could LTC go to $25?

ahh ,  I'm going to leave this one for the kiddies to figure out.

it all sounds very promising but, and i agree that more exposure could indeed lead to a rise in price.

wrong account?

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July 10, 2013, 04:47:55 PM
 #17

Why did you stop pumping TRC, NMC and other coins?

Could LTC go to $25?

ahh ,  I'm going to leave this one for the kiddies to figure out.

it all sounds very promising but, and i agree that more exposure could indeed lead to a rise in price.

wrong account?

no dude , trust me i'm not fontas who ever he is .  - i first saw people pushing his name on the troll box - back then i didn't even know what the troll box was.

trust me i wouldn't bother, what i'm going to try to pump to get you to pump so i can dump? - why wouldn't i just invest in something that i think is going to rise , or my own Currency like say,  oh,  you know. Nibble?

- Twitter @Kolin_Quark
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July 10, 2013, 04:50:06 PM
 #18

Please tell me this is a joke
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July 10, 2013, 04:53:33 PM
 #19

I wonder if MtGox will take action against this ?

Something like only allowing verified accounts to deposit Litecoin for the first week of it's trade should do the trick.
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July 10, 2013, 04:58:24 PM
 #20

I wonder if MtGox will take action against this ?

Something like only allowing verified accounts to deposit Litecoin for the first week of it's trade should do the trick.
...or just giving everyone time to move their LTC to Gox before trading starts.

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