chriswilmer (OP)
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August 19, 2013, 03:52:18 AM |
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That would be pretty great if that's what ended up happening. Instead of closing the USD/BTC loop, the spread between LTC/BTC would equalize across Mt. Gox and BTC-e, and then people could withdraw fiat from BTC-e (assuming that's easier than Mt. Gox).
This thought just occurred to me so maybe I am skipping over an important detail....
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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spoorancher
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August 19, 2013, 04:14:35 AM |
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What you are missing is that the spread is not due to the relative value of the Bitcoins, it's due to the relative value of the $.
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joesmoe2012
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August 19, 2013, 11:42:45 AM |
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What you are missing is that the spread is not due to the relative value of the Bitcoins, it's due to the relative value of the $.
or lack of value of GoxUSD as it cost 20% to withdraw.
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NewLiberty
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August 19, 2013, 11:50:57 AM |
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What you are missing is that the spread is not due to the relative value of the Bitcoins, it's due to the relative value of the $.
or lack of value of GoxUSD as it cost 20% to withdraw. That would pump the Gox valuation of litecoin at the expense of its bitcoin valuation. That would be very bullish for litecoin.
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joesmoe2012
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August 19, 2013, 11:54:15 AM |
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What you are missing is that the spread is not due to the relative value of the Bitcoins, it's due to the relative value of the $.
or lack of value of GoxUSD as it cost 20% to withdraw. That would pump the Gox valuation of litecoin at the expense of its bitcoin valuation. That would be very bullish for litecoin. The LTC value @ gox would just end up being 20% higher than everywhere else as well. IT's a Fiat IN/Fiat OUT problem.
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NewLiberty
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August 19, 2013, 12:06:49 PM |
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What you are missing is that the spread is not due to the relative value of the Bitcoins, it's due to the relative value of the $.
or lack of value of GoxUSD as it cost 20% to withdraw. That would pump the Gox valuation of litecoin at the expense of its bitcoin valuation. That would be very bullish for litecoin. The LTC value @ gox would just end up being 20% higher than everywhere else as well. IT's a Fiat IN/Fiat OUT problem. We agree, but for the "just" characterization.
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dnaleor
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Want privacy? Use Monero!
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August 19, 2013, 02:04:49 PM |
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It would indeed open a second market to people who want to get rid of their goxed USD. So the gox price of BTC would go down a little, until the LTC price has risen to +10 (maybe 20) % above the BTCe LTC price...
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NewLiberty
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August 19, 2013, 06:50:24 PM |
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It would indeed open a second market to people who want to get rid of their goxed USD. So the gox price of BTC would go down a little, until the LTC price has risen to +10 (maybe 20) % above the BTCe LTC price...
Well stated.
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Spaceman_Spiff
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August 19, 2013, 08:26:53 PM |
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It would indeed open a second market to people who want to get rid of their goxed USD. So the gox price of BTC would go down a little, until the LTC price has risen to +10 (maybe 20) % above the BTCe LTC price...
Depends, are there a decent amount of people (or 1 rich one :-) ) willing to sell their LTC at gox at <20% premium?
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superduh
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August 20, 2013, 12:59:55 AM |
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hard to transfer cash between exchanges - easy to transfer bticoins/litecoins - arbitrage opportunity will begin decreasing. end of story.
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ok
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