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Author Topic: rpietila Wall Observer - the Quality TA Thread ;)  (Read 907152 times)
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mmitech
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March 08, 2014, 02:56:25 PM
 #1081

LTC

yes! but at this point it is less useful than BTC, to be honest I am examining the possibility of a boom here, there is a big payment processor like Bitpay called gocoin.com, which deals with Bitcoin and Litecoin exclusively and  make it easy for merchants to accept both Litecoin and Bitcoin without risking the volatility, also Bitpay last year twitted about Litecoin a couple of times...

I am an IT guy, so I am not asking about the technical aspect of things here, I already know that, I am curious about the market more or less, so beside speculation, what do you think, and I also would like from other members to share their thoughts about this if it is Ok (not that I want to spam this thread and take it out of the context)     
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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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mmitech
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March 08, 2014, 03:04:54 PM
 #1082

So what is your take on this ?

Can you use it for something?

Can I use what ? your opinion or Litecoin ?

Edit: if you meant litecoin then yes, if you meant your opinion, well it just matters to me, I want to have different opinions from reputable people, I am in kinda analyzing something here.... so I would appreciate if you shared that info with me Wink or rather with us...

What value does LTC add over BTC?

I suspect most alts will disappear (i.e. become even less significant than they already are) over the next year or two as people realize they offer no benefit over BTC and can't be used anywhere.

Also volume is higher because I think it is more volatile (better for day traders).

yes, LTC beside the faster confirmations and lower transactions cost, it doesn't add anything technical, it is a fundamental aspect here, it add a choice... it is also the oldest alt and the most secure and legitimate one out there, where you can see an actual and legit development happening, honestly I am beyond what LTC add, I had that argument in my head for so long,  but the market seems to vote in a different way Wink
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March 08, 2014, 06:01:17 PM
 #1083

Ltc really took off when Asics started showing up, demonstrating the importance of incentivizing the miners in the early stages.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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March 08, 2014, 06:16:17 PM
 #1084

Best call of the thread so far. I do indeed like to sip scotch whilst waiting Smiley

And while waiting sgbett missed the november'13 rally completely.  Grin

Sipping scotch only works profitably when you're holding BTC, not fiat Smiley

Btw. my castle, Malla, is now on day 8. The Day 0 party was nice, but revealed that we need moar bedrooms. So let's build some Smiley

I have commenced reparations there and the Château-Hôtel Malla is ready to open this summer. Even before that, if you really want to see me (or the place), just contact my reservations manager (contact info in the link).

I'm still baffled as to why anyone holds anything *other* than BTC Smiley (notwithstanding one's scotch glass)

all my posts berating the day traders should be testament enough to that!

I'm not sure my humble stash affords me the luxury of visiting Malla quite yet.

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March 08, 2014, 06:17:05 PM
 #1085

Keep in mind that LTC has a very high inflation rate currently, so it takes alot of new fiat to keep the value up.
That doesn't have much to do with price.  Price is supply vs demand.  Most miners are just as aware of the inflation rate as you are.  Also bitcoin fiat inflation is currently way higher then Litecoin anyways so by your logic it takes way more fiat to hold up Bitcoin price vs Litecoin.

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March 08, 2014, 06:22:55 PM
 #1086

Keep in mind that LTC has a very high inflation rate currently, so it takes alot of new fiat to keep the value up.
That doesn't have much to do with price.  Price is supply vs demand.  Most miners are just as aware of the inflation rate as you are.  Also bitcoin fiat inflation is currently way higher then Litecoin anyways so by your logic it takes way more fiat to hold up Bitcoin price vs Litecoin.

Exaclty, supply vs demand, high inflation is high supply.

I never talk about price inflation. Only supply inflation (real inflation).

Litecoin has higher inflation than bitcoin and will always be, the inflation model for LTC is the same as for BTC, but LTC started a few years later, so it is still in its beginning stages of very high inflation.

Chart for referance:

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March 08, 2014, 06:27:14 PM
 #1087

Risto, while I hate most of the alts and question their existence, I am a fan and LTC supporter for a while now, so I wanted to ask you if it is possible to take a look at the crypto market out of the box and tell me what you think.

Why I am asking this? I have been watching the crypto market in general, comparing the money flow in/out for all alts, I found that the volume of money invested in Litecoin is way more then you can even imagine, I also found out that the last 3-4 months Litecoin beats bitcoin by volume.

look at this bubbles http://www.cryptocoincharts.info/v2/coins/graphicalComparison

they count the 24H volume of ALTcoin/USD and ALTcoin/BTC and they convert everything back to BTC and compare it to the BTC volume, so it is not 1 LTC compared to 1 BTC but it is the value of 1 BTC invested in that Altcoin instead.

data is recorded from almost all exchanges (I found out about many of exchanges there, I didn't know they existed at all)










So what is your take on this ?

Using your methodology, arbitrage between BTCLTC, BTCUSD, AND LTCUSD will inflate LTC volume.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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March 10, 2014, 09:50:10 AM
Last edit: March 10, 2014, 10:09:25 AM by lunarboy
 #1088


Whilst 'these bubbles' look great, there seems to be no indication as to time period. Would be interesting to see change /D/W/M/Y this would give a great visualisation of how things are progressing, and which markets to follow.

edit: says 24hrs period ..i'm blind- still would be nice to see other time periods.
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March 10, 2014, 10:02:58 AM
 #1089


Whilst 'these bubbles' look great, there seems to be no indication as to time period. Would be interesting to see change /D/W/M/Y this would give a great visualisation of how things are progressing, and which markets to follow.

the bubbles as it was explained before show the 24H volume, you can see that they refresh in 5-15 min patterns... and I look at them daily so...
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March 10, 2014, 10:10:29 AM
 #1090

Only two alts that I ever became interested, were DOGE and AUR, and both would have been 10-baggers but money does not interest me any more  Grin

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March 10, 2014, 10:34:44 AM
Last edit: March 10, 2014, 10:50:45 AM by mmitech
 #1091

Only two alts that I ever became interested, were DOGE and AUR, and both would have been 10-baggers but money does not interest me any more  Grin

yes DOGE is a really social phenomena, the whole doge idea is based on a meme, my question is how long it will last, at some point that meme will lose the popularity, as for Aura, the concept of a national coin is interesting, but the philosophy doesn't sum up, Bitcoin's proof of work is one of the things behind the successes of it, premining the coins and giving them for free without any proof of works that comes from citizens will kill this coin.

now Auracoin has some value but once they start distributing coins among citizens you will watch one of the biggest crashes of a currency in crypto world, a citizen who has done nothing to deserve the coins will first think about dumping it for a quick free profit, lets get real, what did they risk to care about the price not going to 0 ?

the Idea behind money or a currency is the rarity and value of that currency, when it is delivered for free and without any work/effort/risk it takes off that whole definition and idea of money.... this is why gold and silver and Bitcoin has value, it is not easy to get...  


at least that is my opinion on these 2 coins.
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March 10, 2014, 10:48:32 AM
 #1092

Yes, I am not interested in them anymore, and did not buy either.

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March 10, 2014, 11:24:55 AM
 #1093

I've found only one way to profitably use altcoins: quick daytrading of a trending altcoin with high volume. Find an uptrending altcoin and locate the 'trendline' or 'trendcurve', or use EMAs. Bid against these levels so when there is a spike down, you get filled, and then you are instantly up on the inevitable rebound. You can either sell immediately with your rebound profit, or if you are bold, you can let the trend play out and sell at a different target or sell when the trend is breaking.
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March 10, 2014, 11:32:02 AM
 #1094

I've noticed that there has not been any high volume altcoin action in many months now, except doge and aur (which was very brief). This concerns me because I think it implies that the altcoin promoters and players have lost faith in bitcoin. One could wonder what kind of inside information the altcoin bigshots (like Fontas, who randomly disappeared to thin air) might have about Bitcoin. Now rather than having their btc tied up in altcoin plays or on altcoin exchanges, the players and promoters have their btc on the ready for sale for usd, or on a btc/usd exchange. Altcoin was a major source of bitcoin hoarding/distraction (much like gambling/satoshidice) so if these coins are not being used for altcoin trading then they are increasing the supply of bitcoins.
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March 10, 2014, 11:37:18 AM
Last edit: March 10, 2014, 01:08:13 PM by mmitech
 #1095

I've found only one way to profitably use altcoins: quick daytrading of a trending altcoin with high volume. Find an uptrending altcoin and locate the 'trendline' or 'trendcurve', or use EMAs. Bid against these levels so when there is a spike down, you get filled, and then you are instantly up on the inevitable rebound. You can either sell immediately with your rebound profit, or if you are bold, you can let the trend play out and sell at a different target or sell when the trend is breaking.

I will agree on that, but this works for pump and dump and scamcoins, the risk is huge, but Litecoin seems to be gaining huge legitimacy over time, it was started in a fairway and I am amazed about the development going behind it. Warren is the team Dev leader, he is the Creator of Linux Fedora. and allot of talented people working with him.

the Dev team when dealing with the core code, doesn't rely on Bitcoin as copy paste, but they submitted many bug fixes on Bitcoin code it self and they also helped funding projects that benefits both Bitcoin and Litecoin.

also after the shit and conspiracy going around Bitcoin, from the foundation and all hidden agendas, all of that made me think about investing some of my holding into Litecoin just in case, and now my Litecoin position is bigger than the Bitcoin one, I think that there is a potential growth ahead for Litecoin... and I was curious about how many of you here maybe did study this possibility and invested or think about investing?
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March 10, 2014, 12:19:17 PM
 #1096

What happened? The bitstamp order book looks like shit now. It's been halved since when it was trading in 500s. That's not normal for a true reversal. The bid depth should be continuing to increase every step of the way, not decrease!

Where do you guys get access to this information. i.e. the complete order book on Bitstamp?

I use QT trader and can see the complete order book through that.
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March 10, 2014, 12:57:38 PM
 #1097

What do you guys think about Darkcoin? The innovation they bring is anonymous transactions (DarkSend it is called) where it is a core feature of the network. It's currently in beta stage. The lead developer looks very professional and responsive, and the community is excited about it.

Also they have difficulty adapted every block (KGW) and ASIC protection by using 11 different cryptographic functions.
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March 10, 2014, 04:29:56 PM
 #1098

http://thecrux.com/why-the-crash-in-bitcoin-could-just-be-getting-started/

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March 10, 2014, 05:02:54 PM
 #1099

I just read that article... it fails to draw any comparison between the south seas stock and bitcoin in terms of economic climate. It is just a scary graph, that has no comparison or similar features to bitcoin, the south seas shows just one period of explosive growth, while you can see bitcoin "pulses" in the graph. Also, this stock is as old as Sir Issaac Newton? Who in their right mind would make a comparison between these two things? Only someone who wants to show a scary graph that has maybe a glimmer of similarity just in the fact that it increased in value?

He didn't even mention what the South Seas stock even consisted of. I wouldn't worry about this article. I won't be.
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March 10, 2014, 10:32:51 PM
Last edit: March 10, 2014, 10:58:18 PM by MAbtc
 #1100

Seeing some short term bullish divergences. We saw 5 waves down and what is starting to look like a local bottom. Typically I'd then look for a 3 wave corrective to the upside. If this plays out, it helps to confirm that the dominant trend is still down. I don't think there is all that much room for upside here. Buying pressure looks weak. Let's take it to 666! Smiley



Then, there's this:



Not sure if this is valid based on previous trend, though...
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