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Author Topic: precious metals and alt currencies  (Read 924 times)
illpoet
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February 23, 2012, 07:20:01 AM
 #1

so now that i've sold a round of silver for litecoins i'm wondering if it is effective at all as establishing an alt crypto currency.  My question to you guys is do you think selling prec metals for litecoins, solidcoins, namecoins etc will help/hurt the legitimacy of an alt currency? or have no effect?  i mean, i know only selling a few ounces here or there is going to have no real effect but what if someone were to start offering large quantities for said coin?   

Tym's Get Rich Slow scheme: plse send .00001 to
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thank you.
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February 24, 2012, 04:23:12 AM
 #2

how many litecoins did you get for how many ounces of silver?

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illpoet
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February 24, 2012, 04:58:29 AM
 #3

4500 for 1. at time of exchange it was 33.50 usd or 7.5 btc so somebody got a good deal. i don't think that would be enough to impact it in any way tho, i more thinking of like someone saying i have 1000 oz of silver that i will exchange for 7500 ltc each.  would that help stabilize the currrency? of course if i had 1000 oz of silver i'd probably just be happy with but hypothetically...

Tym's Get Rich Slow scheme: plse send .00001 to
btc: 1DKRaNUnMQkeby6Dk1d8e6fRczSrTEhd8p ltc: LV4Udu7x9aLs28MoMCzsvVGKJbSmrHESnt
thank you.
StewartJ
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February 24, 2012, 07:31:27 PM
 #4

I've sold over a 100 ounces of silver mostly through BTC transactions.

Do not see how selling Precious Metal via any alt-coin would have any effect positive or negative, short term.

But I do like your idea of using LTC as means of exchange for silver, to broaden the Alt Coin base. Long term, think its great.

May start doing it myself.
illpoet
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February 25, 2012, 02:48:55 AM
 #5

Thanks for your input guys! i've just been daydreaming lately about what i could do to help establish litecoin as a currency vs as a commodity.  now bear in my i don't have thousands of oz of silver to sell for ltc, but hey i'm daydreaming right?  that would be great stewartj i figure if more ppl use litecoins to buy and sell anything, silver especially it will really help the big picture. also if you do decide to sell some stuff let me know i might be interested!
 

Tym's Get Rich Slow scheme: plse send .00001 to
btc: 1DKRaNUnMQkeby6Dk1d8e6fRczSrTEhd8p ltc: LV4Udu7x9aLs28MoMCzsvVGKJbSmrHESnt
thank you.
StewartJ
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February 25, 2012, 03:22:36 AM
 #6

Thanks for your input guys! i've just been daydreaming lately about what i could do to help establish litecoin as a currency vs as a commodity.  now bear in my i don't have thousands of oz of silver to sell for ltc, but hey i'm daydreaming right?  that would be great stewartj i figure if more ppl use litecoins to buy and sell anything, silver especially it will really help the big picture. also if you do decide to sell some stuff let me know i might be interested!
 

Makes me wonder if we need to start a "Goods" Forum for Litecoins, like we have for Bitcoins? 

Actually at that point in time, we probably really need a dedicated Litecoin Forum, just like the Bitcointalk model.... for general discussion, development projects, mining, selling goods/services, etc.

The problem with the few LTC forums I have seen is there's no activity, and so perhaps its not warranted yet.

When we do get to that point, I have access to the Litecointalk.com domain name; we can replicate the Bitcointalk Forum model and get the Litecoin at a higher level of awareness.
illpoet
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February 27, 2012, 12:38:50 PM
 #7

sounds like a good idea but i agree that the forumns dedicated to litecoin are a bit on the slow side.  I still check up on the anarchic litecoin market that you need osirus to access sometimes but theres not much activity on there.  i would love to see a marketplace for litecoins as it seems more and more people are mining them.  maybe a few months down the road this will be more viable.

Tym's Get Rich Slow scheme: plse send .00001 to
btc: 1DKRaNUnMQkeby6Dk1d8e6fRczSrTEhd8p ltc: LV4Udu7x9aLs28MoMCzsvVGKJbSmrHESnt
thank you.
bitcoinsarefun
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February 27, 2012, 03:39:55 PM
 #8

  i would love to see a marketplace for litecoins as it seems more and more people are mining them.  maybe a few months down the road this will be more viable.

this is a project ( one of two ) that I am picking away at right now. I'm just assessing what software is already available that I can easily modify rather than trying a "rollmyown" solution. Basically, I'm just thinking of a clone of bitmit.

I think as more services become available, you'll start to see litecoin moving a little more
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