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Author Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched!  (Read 1084313 times)
thevictimofuktyranny
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February 11, 2015, 02:31:35 PM
 #2601

https://www.zapchain.com/video/v/h49JDLXbyw

Charlie Lee creator of Litecoin @ Zapchain. (Interview)

Thanks, for the link Grin

He is a very polite and a very pleasant man. Someone a woman could take home to meet the parents without worrying Grin

The index between BTC and LTC he identifies is called the "Fiat Currency Exchange shuffle"; it was discovered on exchanges like BTC-E, where knowing when a commercial mining operation is depositing its' LTC or BTC (not forgetting large Fiat Currency deposits from rich investors) allows full time traders to shuffle their funds between Fiat Currency, BTC and LTC to enlarge their holdings of crypto currencies or Fiat Currency without extra investments.

Maybe, it included some inside information e.g. employee at the Fiat currency Exchange would tip his mates off when a large cash deposit had come in or large BTC deposit had come in or large LTC deposit had come in. However, it is possible to spot them without inside information, if you are willing to sit on the exchange 24/7 Tongue

If, it was a Fiat Currency deposit, the day traders could inflate BTC and LTC prices  Tongue

If, it was a BTC deposit, the day traders could deflate BTC price  Tongue

If, it was a LTC deposit, the day traders could deflate LTC price  Tongue

The added twist, was shuffling between BTC and LTC according to whether the large depositors needed to sell LTC or BTC.

For a laugh, last year using the "Fiat Currency Exchange shuffle" at BTC-E, I turned a deposit of 10 Litecoins in 30 Litecoins in 2-3 weeks during my holidays off work Shocked

This kind of shenanigans do not help with crypto currency development. Newbie investors need to be protected as a priority agenda. Secondly, life is full of fun stuff to do and interesting things to discover Wink

Therefore, sitting on an exchange 24/7 ain't my cup of tea and I guess the same applies for Charlie Lee Cheesy
 
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February 12, 2015, 10:59:04 AM
 #2602

https://www.zapchain.com/video/v/h49JDLXbyw

Charlie Lee creator of Litecoin @ Zapchain. (Interview)

Thanks, for the link Grin

He is a very polite and a very pleasant man. Someone a woman could take home to meet the parents without worrying Grin

The index between BTC and LTC he identifies is called the "Fiat Currency Exchange shuffle"; it was discovered on exchanges like BTC-E, where knowing when a commercial mining operation is depositing its' LTC or BTC (not forgetting large Fiat Currency deposits from rich investors) allows full time traders to shuffle their funds between Fiat Currency, BTC and LTC to enlarge their holdings of crypto currencies or Fiat Currency without extra investments.

Maybe, it included some inside information e.g. employee at the Fiat currency Exchange would tip his mates off when a large cash deposit had come in or large BTC deposit had come in or large LTC deposit had come in. However, it is possible to spot them without inside information, if you are willing to sit on the exchange 24/7 Tongue

If, it was a Fiat Currency deposit, the day traders could inflate BTC and LTC prices  Tongue

If, it was a BTC deposit, the day traders could deflate BTC price  Tongue

If, it was a LTC deposit, the day traders could deflate LTC price  Tongue

The added twist, was shuffling between BTC and LTC according to whether the large depositors needed to sell LTC or BTC.

For a laugh, last year using the "Fiat Currency Exchange shuffle" at BTC-E, I turned a deposit of 10 Litecoins in 30 Litecoins in 2-3 weeks during my holidays off work Shocked

This kind of shenanigans do not help with crypto currency development. Newbie investors need to be protected as a priority agenda. Secondly, life is full of fun stuff to do and interesting things to discover Wink

Therefore, sitting on an exchange 24/7 ain't my cup of tea and I guess the same applies for Charlie Lee Cheesy
 


Nice. Never thought that way about what deposits would inflate/deflate prices, but it sounds reasonable.

Perhaps I should read the market data more closely next time I gonna trade my LTC.  Wink

I like Doge:  DCayeMFxQCPnZfpmXy49AtsDG44ERCPsC9
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February 12, 2015, 12:05:14 PM
 #2603

That's all you get on this thread about Litecoin until summer arrives Lips sealed

We never get much news.... so true...
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February 12, 2015, 12:07:40 PM
 #2604

That's all you get on this thread about Litecoin until summer arrives Lips sealed

We never get much news.... so true...

I actually thought this coin had died already and only bagholders were left keeping it on number 3.

thevictimofuktyranny
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February 12, 2015, 03:11:14 PM
 #2605

That's all you get on this thread about Litecoin until summer arrives Lips sealed

We never get much news.... so true...

I actually thought this coin had died already and only bagholders were left keeping it on number 3.

Hmm,

A coin is only dead, when this condition is filled:

When no more investments are made into producing more of it e.g. the item is no longer desirable or it is inherently foolish in making more of it Shocked

Litecoin has 95% of scrypt algorithm mining investments. Therefore, everyone wants to make more Litecoins and people want to collect more Litecoins Grin

In terms of price speculation, as an Economic Coin get's older (more accurately, more coins exist) it become more difficult to fictitiously pump up the price and dump it afterwards leaving Newbie Investors as net losers in swaps/trades  Shocked

This is to say: an economic coin becomes resistant to "major speculators" using baloney and bulsh*t to push up the price  Tongue Only new alts allow this, with their ultra low quantities of coins and low valuations.

In Fiat Currency Sector, major speculators have resorted to market rigging and debt vehicles to overcome this decline in their opportunities to fleece the Newbie Investor. You can't do this with crypto currencies, because their is no debt system and lot's people are investing for the Long Term.

Upwards movements in price become (over time) pegged to important events or changes in the fundamentals prarameters or new productive outcomes  Lips sealed

Litecoin is perfectly alive Grin
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February 12, 2015, 03:20:29 PM
 #2606

Litecoin is not dead at all.

It has 2x more Volume than Ripple. (by the way Ripple is 10x bigger in total marketcap.....Ripple is dead)
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February 12, 2015, 04:42:35 PM
 #2607

Litecoin will be the second crypto to be mass adopted after Bitcoin, that is why people are accumulating.
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February 12, 2015, 05:11:37 PM
 #2608

Litecoin will be the second crypto to be mass adopted after Bitcoin, that is why people are accumulating.

And Peercoin. Alts have more risk but also better reward.

Like this post? you can tip me (BTC) 18j7UBNfhWWfvwGwrtzWfUrp1v6RDerFkY or (XEM) NBXGH5-MXQPNL-T5TA3R-QCQYUX-3FIEXC-LGIKGT-H7XJ
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Live and enjoy experiments


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February 12, 2015, 05:19:46 PM
 #2609

How can people say it's dead when many alt markets are using LTC to price other coins, along side BTC and USD.
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February 12, 2015, 06:31:36 PM
 #2610

Looks like, acounts traderman, Wekkel & bitcool were hacked or bought, to pump Litecoin.

Pretty sad.
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February 12, 2015, 06:53:50 PM
 #2611

hahahah very funny!

Looks like, acounts traderman, Wekkel & bitcool were hacked or bought, to pump Litecoin.

Pretty sad.

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February 13, 2015, 06:04:01 AM
 #2612

Litecoin will be the second crypto to be mass adopted after Bitcoin, that is why people are accumulating.

And Peercoin. Alts have more risk but also better reward.

The first crypto hasn't even been massadopted, do peeps even know what MASS adoption means?
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February 13, 2015, 06:36:24 AM
 #2613

Some people refuse to see the future even when it stares at them right in their faces. No problem, you won't be part of the adventure then.

Like this post? you can tip me (BTC) 18j7UBNfhWWfvwGwrtzWfUrp1v6RDerFkY or (XEM) NBXGH5-MXQPNL-T5TA3R-QCQYUX-3FIEXC-LGIKGT-H7XJ
thevictimofuktyranny
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February 13, 2015, 02:15:10 PM
 #2614

Litecoin will be the second crypto to be mass adopted after Bitcoin, that is why people are accumulating.

And Peercoin. Alts have more risk but also better reward.

The first crypto hasn't even been massadopted, do peeps even know what MASS adoption means?

Yes,

But, computers needed 25 plus years before they achieved mass adoption amongst those who had electricity and the wealth to own one Roll Eyes
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February 14, 2015, 04:36:53 PM
 #2615

That's all you get on this thread about Litecoin until summer arrives Lips sealed

We never get much news.... so true...


Thats because the news is on litecointalk or /r/litecoin. Here is the latest in case you were curious http://bitcoinist.net/litecoin-association-appoints-new-development-team-director/

Follow me on twitter https://twitter.com/TheRealMage for Litecoin and Litecoin Association news!
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February 17, 2015, 02:33:42 PM
 #2616

I've just come across this news.

Critical update Litecoin v0.8.7.5 fixes compatibility with newer versions of openssl.

https://litecoin.org

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February 17, 2015, 02:58:25 PM
 #2617

Not dead as long as the network is running but I believe it will go under $1 in 2016.

If Bitcoin continues to keep on struggling then difficult times lie ahead for Litecoin.
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February 18, 2015, 12:56:38 AM
 #2618

Not dead as long as the network is running but I believe it will go under $1 in 2016.

If Bitcoin continues to keep on struggling then difficult times lie ahead for Litecoin.


Yea unfortunately its really a double edged sword being the natural trading partner for BTC. We are anchored to BTC's price for better or worse.

Follow me on twitter https://twitter.com/TheRealMage for Litecoin and Litecoin Association news!
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February 18, 2015, 09:56:07 AM
 #2619

Not dead as long as the network is running but I believe it will go under $1 in 2016.

Dude we just started 2015
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February 18, 2015, 10:09:35 AM
 #2620

looks like ltc/btc is about to dump right into my buys again. They just keep dropping cheap litecoins into my hands lol

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