Did ghash.io cause that litecoin pump?

[davida]

Could this rise in litecoin price be something to do with ghash.io offering double ltc mining payouts this week, it's apparently got close to 50% of the hashing power mining with them already.  

I could be wrong, but i just calculated that at a new block every 2.5mins, 50 ltc per block, that's over  new 200,000 litecoins mined each week.  

So if ghash holds 50% of the network, this week they need an extra 100,000 litecoins (minimum of 25,000ltc when paying out at x1.25)  

Which means 25,000 x $17.5 =  $437,500  minimum amount of money pumped into litecoin.  Probably much more.

Or is this a drop in the ocean?

Also keep in mind most of their holding are prob btc, so they would have had to sell bitcoin for ltc. Although I don't think half a million dollars even put a dent in btc price.

[El Dude]

drop in the bucket , the price is going up because Litecoin is going on the worlds biggest exchange in less then 24 hours.


the future is also bright for litecoin as Coinbase and many other will start accepting the only altcoin that's not a pump and dump scam.

[solid12345]

May I ask, why is Litecoin going on Huobi such a big deal? It's not like the coin isn't available on every other exchange or anything.

[PhattyBanks]

cex.io only offered double payouts for a day then renig'd on the deal

[TTM]

drop in the bucket , the price is going up because Litecoin is going on the worlds biggest exchange in less then 24 hours.

Huobi is not world's biggest exchange, they fake the data. BTCchina and OKcoin has way more (real) volume than Huobi, and these 2 exchange already has LTC in their market. Therefore, Huobi adding Litecoin is not a big deal for us and for chinese. Those who think ltc will skyrocket after 19th might be disappointed.

On BTC-e, the sell volume is higher than buy volume few times, but the price is going up. Many naive traders got fooled by trollboxers that LTC will skyrocket on 19th, and they're buying in without considering the current price.

[El Dude]

drop in the bucket , the price is going up because Litecoin is going on the worlds biggest exchange in less then 24 hours.

Huobi is not world's biggest exchange, they fake the data. BTCchina and OKcoin has way more (real) volume than Huobi, and these 2 exchange already has LTC in their market. Therefore, Huobi adding Litecoin is not a big deal for us and for chinese. Those who think ltc will skyrocket after 19th might be disappointed.

On BTC-e, the sell volume is higher than buy volume few times, but the price is going up. Many naive traders got fooled by trollboxers that LTC will skyrocket on 19th, and they're buying in without considering the current price.

okcoin fakes data not Huobi

[TTM]

okcoin fakes data not Huobi

I was talking about Bitcoin trading volume, Okcoin also fake their Litecoin volume as well. Just do some search on Google with keyword "Huobi fake volume" you will see plenty of threads of this issue. Now we compare BTCChina and Huobi, Huobi is nowhere near BTCchina in term of website traffic (you can check with Alexa or Baidu), but how the hell their volume is 20 times bigger ?