Silk Road forums
Discussion => Silk Road discussion => Topic started by: cowpie34 on April 04, 2013, 05:40 pm
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Litecoin just started taking off in price! There are rumors the MtGox will start trading in Litecoin June 1st! If that happens it is sure to raise in value. Does anyone know why it suddenly went up in value this week?
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It is confirmed that MtGox will start trading in Litecoin! (warning all links are clearnet) http://www.reddit.com/r/litecoin
https://en.bitcoin.it/wiki/Litecoin
http://litecoin.org/
http://www.ltc-charts.com/
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are there any trusted online wallets available yet?
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Not like blockchain but there are some. Use can just use btc-e or VirCurEx though.
The litecoin software/miner has a wallet. I think that what this means - it was posted on litecoin org - Fresh from the Bitcoin codebase is wallet encryption, which allows you to secure the private keys in your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending your litecoins. This serves as not only a protection to viruses and trojans, but also a sanity check before sending payments.
(warning all links are clearnet)
http://litecoin.org/
https://github.com/litecoin-project/litecoin/wiki/List-of-Litecoin-related-services
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i will look into litecoin in future...right now bitcoin is in forefrunt of all digital currencies
litecoin is not so widely accepted and has even fewer exchangers
btc has earned trust of vendors and buyers....there are exchangers for it worldwide
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I do not know if this will actually start a jump in LTC value, but if it does I shall be ready. Already been mining for a few days, was thinking of getting into trading it. Easier to build up starting capital than with BTC since it is easier to mine.
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Maple. What miner are you using? I got the wallet but I have not been able to get a miner to work with it to save my life!! I have windows 8. Thx Also did you find a decent pool or are you solo mining? I'm thinking of getting the parts for a rig on craigslist
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Would strongly recommend investing in LTCs, or at least start mining them, I just found a fairly new SR type site that accepts LTCs, it's called Atlantis, if you google "atlantis litecoins" you'll find it.
It's without doubt that SR had a lot to do with making BTCs a relevant currency, if Atlantis brings LTCs into the blackmarket I can see a similar rise in their value,
How many of us are kicking ourselves in the teeth for not investing in BTCs this time last year? Don't miss the boat on this one. And if it is true that MtGox are going to start trading LTCs then it's a dead cert.
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Maple. What miner are you using? I got the wallet but I have not been able to get a miner to work with it to save my life!! I have windows 8. Thx Also did you find a decent pool or are you solo mining? I'm thinking of getting the parts for a rig on craigslist
This is the tutorial I used *clearnet* http://cryptojunky.com/blog/2013/03/12/absolute-beginners-guide-to-litecoin-mining/ on Windows 7. If you have 8, I would strongly recommend downgrading to 7, if only for the reason that Windows 8 tells Microsoft EVERYTHING you install, and not very securely either.
I am mining in the notroll.in pool, it's one of the biggest. Using the Reaper miner. The only issue with the pools is that for some reason they have been coming under a lot of DDoS attacks for some reason lately.
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Anyone know of any ways at the moment to get LTC for GBP? Preferably by bank transfer as such.
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Anyone know of any ways at the moment to get LTC for GBP? Preferably by bank transfer as such.
I've been looking for the same thing - it is like looking for a needle in a hay stack. I bought some litecoin with bitcoin. I transferred some btc to my btc-e.com account and then bought the litecoin with btc. Only bought a few of them but they have already quadrupled in value :)
The only thing is though; for now, there is no easy way to cash out the litecoin for regular currency. I'm going to hoard my litecoin until it is a more established currency. I have learned from my dealing in bitcoin over the past year. I would have a nice bit of cash now if I had just kept my bitcoin since I started buying them. That said, I would happily sacrifice all that money for the good/amazing times I have had on the drugs I got here on SR :) :) :)
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Anyone know of any ways at the moment to get LTC for GBP? Preferably by bank transfer as such.
I've been looking for the same thing - it is like looking for a needle in a hay stack. I bought some litecoin with bitcoin. I transferred some btc to my btc-e.com account and then bought the litecoin with btc. Only bought a few of them but they have already quadrupled in value :)
The only thing is though; for now, there is no easy way to cash out the litecoin for regular currency. I'm going to hoard my litecoin until it is a more established currency. I have learned from my dealing in bitcoin over the past year. I would have a nice bit of cash now if I had just kept my bitcoin since I started buying them. That said, I would happily sacrifice all that money for the good/amazing times I have had on the drugs I got here on SR :) :) :)
Ah good idea man! I might do that now, just chuck in like 0.2BTC and hopefully it'll largely increase in value :) thanks!
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Anyone know of any ways at the moment to get LTC for GBP? Preferably by bank transfer as such.
I've been looking for the same thing - it is like looking for a needle in a hay stack. I bought some litecoin with bitcoin. I transferred some btc to my btc-e.com account and then bought the litecoin with btc. Only bought a few of them but they have already quadrupled in value :)
The only thing is though; for now, there is no easy way to cash out the litecoin for regular currency. I'm going to hoard my litecoin until it is a more established currency. I have learned from my dealing in bitcoin over the past year. I would have a nice bit of cash now if I had just kept my bitcoin since I started buying them. That said, I would happily sacrifice all that money for the good/amazing times I have had on the drugs I got here on SR :) :) :)
Ah good idea man! I might do that now, just chuck in like 0.2BTC and hopefully it'll largely increase in value :) thanks!
It's the handiest way. I threw in about 0.4btc and it got me 41 litecoin. Not a huge investment, but hopefully it will grow :) With the fluctuation in btc you would probably get about the same amount of litecoin for 0.2btc :)
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Wow the litecoin value must've gone up hugely since you did it! I can only get ~8LTC for 0.2BTC. Unless I'm calculating this wrong?
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check out (warning clearnet links) http://www.ltc-charts.com/ and http://www.ltc-charts.com/period-charts.php?period=2-days&resolution=hour&pair=ltc-usd&market=btc-e
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Litecoins FTW!
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MtGox confirm plans to move into other cryptocurrencies via their twitter page; https://twitter.com/mtgox
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heard about this earlier this week
like a couple others posted on here quite hard to get hold of them through GBP :(
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Everyone in the Litecoin world seems super confident that they are going to rise to at least $5, $10, or $25 when MtGox starts trading in it and when asics starts something it.. Lol
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So what would you guys say would be a better investment at the moment? LTC or BTC? It appears both are raising, LTC probably being the 'safer' option and better in the long run.
I think I'm gunna invest quite a bit of money in LTC right now, but any recommendations or reasons why BTC would be a better option before I invest would be appreciated greatly. :)
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I just took a risk and bought over a thousand lite coins, so I will be sitting on them for a very long time.
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They WILL rise quite rapidly. Some mathematicians estimated that the average change that btc makes from $93 on April 1st to whatever it is at the end of the month will be demonstrated 5 times over with ltc. For instance, if btc rises 100% to $186 by the end of the month, ltc will rise 500% from (I believe) $2.35 on April 1st.
I would like to point out that the opposite would then, by definition, be true. Since ltc is destined to rise VERY much in he near future it's easy to state that btc increase proportionately.
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I have no idea which is the better bet! I'm not sure where people are getting charts and predictions from? I am however investing in Litecoins. I figure if I take half of what I made in BTC recently and invest in LTC at a loss then I can live with it, but it seems like a pretty sure bet.
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Is there currently an exchange similar to mtgox, where you can transfer money, and then buy your LTC and store them in the exchange?
Could really only find BTC-E and litecoinglobal, but they dont seem to be the same
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btc-e.com and vircurex.com
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small btc reward for whoever helps me setup an ltc mining rig on my mac os x
RS
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If this link is real and I think it is MtGox will start trading Litecoin on Wednesday (Warning Cleanet Link)
https://sphotos-b.xx.fbcdn.net/hphotos-ash3/524630_161394767353371_866876570_n.jpg
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How do you download a mining software for LTC?
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TheHubble, the Litecoin-QT client is a fork of the Bitcoin-QT client. It looks just like the Bitcoin client, but has a tab where you can turn on mining.
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Guys guys, isn't this a little quick to be moving onto bitcoin v2? I mean, I know bitcoin has entropy and will eventually become centralized. But it's not even been around that long, huh? Only 5 years or so, if that.
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I'm investing in LTC as we speak!
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If MtGox is going to be supporting them they'll grow exponentially and since they're so much faster to make transactions with they'll be preferable for most circumstances. I wouldn't be surprised if SR started accepting them soon. :)
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Bump
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BTC just passed $200
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1000 LTC in the stash 8-)
can't be that bad of an investment
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1000 LTC in the stash 8-)
can't be that bad of an investment
What was your buy in point?
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Seems pretty complicated to buy LTC from scratch with dollars
Easiest seems to be from btc > ltc
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There needs to be more outlets that accept LTC as a viable payment in order for it's value to actually "sky-rocket" as many people seem to be hoping it will. For the most part, you have people that are just buying and holding... Most of these investors are those of us who feel we didn't get into BTC early enough and don't want to "miss the train" this time around. That's great, and it is probably a wise move BUT it does not change the fact that in order to generate real value, they need to be able to be exchanged for valued goods ala DRUGS AND GAMBLING. 8)
As of right now, their value is that they can be turned into BTC/USD... Hopefully, sites that already accept BTC can just streamline the implementation of LTC
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There needs to be more outlets that accept LTC as a viable payment in order for it's value to actually "sky-rocket" as many people seem to be hoping it will. For the most part, you have people that are just buying and holding... Most of these investors are those of us who feel we didn't get into BTC early enough and don't want to "miss the train" this time around. That's great, and it is probably a wise move BUT it does not change the fact that in order to generate real value, they need to be able to be exchanged for valued goods ala DRUGS AND GAMBLING. 8)
As of right now, their value is that they can be turned into BTC/USD... Hopefully, sites that already accept BTC can just streamline the implementation of LTC
There are already sites which use LTC for gambling such as copycat versions of Satoshi Dice. Also, you have Atlantis, an arguably better designed black market than silkroad which was started off exclusively litecoins.
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1000 LTC in the stash 8-)
can't be that bad of an investment
What was your buy in point?
Buy in was approx $4.32 USD, traded 26btc for 1186 LTC
btc-e.com is a magnificent website, transfers and trades are instant, you can literally sit there buy btc before the lag from mtgox catches up and make hundreds of dollars in minutes if you have the time
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1000 LTC in the stash 8-)
can't be that bad of an investment
What was your buy in point?
Buy in was approx $4.32 USD, traded 26btc for 1186 LTC
btc-e.com is a magnificent website, transfers and trades are instant, you can literally sit there buy btc before the lag from mtgox catches up and make hundreds of dollars in minutes if you have the time
You can also make use of the arbitrage opportunities in the large discrepancy between the exchange rates on MtGox and BTC-E. People running bots to do this right now are making BANK!
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I just registered to btc-e but when I try to log in it takes me to a blank screen... Any ideas what this ñay be? Is it due to lag?
Also can I purchase btc with this website using a visa card?
Thanks
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That link I posted and said I thought was real was a prank! I did not know it! I'm having the same issue with Btc-e It's probably due to the heavy traffic right now.
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That link I posted and said I thought was real was a prank! I did not know it! I'm having the same issue with Btc-e It's probably due to the heavy traffic right now.
(warning clearnet links)
NY Time article
http://www.nytimes.com/2013/04/08/business/media/bubble-or-no-virtual-bitcoins-show-real-worth.html?_r=2&adxnnl=1&pagewanted=all&adxnnlx=1365527029-7Z9Fn9TyVjRHYBY+Vi0JwQ
I am not good at math anymore
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(warning clearnet link)
http://www.elliottwave.com/introduction/elliott_wave.aspx
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Can someone tell us where we are able to purchase Litecoins?
Over direct bank transfer or whatever payment option is out there.
Thanks in advance
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btc-e.com
Easiest thing to do is send btc to your account there and then convert them to ltc.
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Went and got some bitcoins today to get some LTC,
But now BTC is still on the constant steady rise, i dont want to make the trade anymore :(
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Went and got some bitcoins today to get some LTC,
But now BTC is still on the constant steady rise, i dont want to make the trade anymore :(
Now is the time to buy your LTC's with BTC's (if you want to get some LTC's).
As soon as the rise of BTC will stop/go slower/crash, the price of LTC will go up very quickly.
LTC are cheap now - but will not stay like this.
Otherwise there are other alternative coins such as for example TRC.
All those alternatives are quite cheap now - most of the people stay in BTC because of the rise, but that means now is the moment to buy... it will not get much cheaper than it is...
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Yeah BTC is going up, but unless you have alot of coins already or are buying alot of coins, profits arent really that much.
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LTC's are around $5 something now.
Not long ago they were only 0.54c per ltc.
I'm sure once they are listed on Mt.Gox...they will rise to around $15 maybe.
This is just speculation on my part and from what i read on btc-e.
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Im definitely on the pro-litecoin side of this debate.
Im very confident that between 6-12 months (to allow time for mt.gox to add them, they already have tickers etc written and issued a statement on twitter saying they would implement them) the value for LTC will grow massively; if even half as much as BTC then I will be very happy.
I see a few major steps towards this happening, step one being mt.gox adding support for LTC which will lead to other exchanges following suit.
And also, Silk Road finally adding LTC support- not entirely sure how this would be implemented, perhaps just have two "wallets" for accounts but one thing is for sure, if a site is using BTC, implementing LTC is a piece of cake. Imho Silk Road will eventually add LTC - don't know when but i'm sure they will.
Another point is that with BTC at such a crazy high price, calculating prices of products becomes awkward, if BTC continues to rise and SR dont add LTC support we will need 2 decimal places, 3...
There are also now alot of Investors who are interested in crypto-currency now due to all the media coverage of BTC of late but most conventional investors will deem it too late to invest in BTC when they balance risk against potential returns.
Finally there is also the issue of miners which im surprised more people dont think of! There is loads of very expensive hardware out there designed specifically for mining BTC and with difficulty increasing over time profits will decline, for every miner a time will come where there rig is no longer profitable (many already are) and what do those guys do? Quit the coin mining game and just take the hit on the £10,000 they spent on hardware? Of course they dont, they mine alternative currency which pays out more- this is LTC.
Just my opinion but i'm very confident in this, hence I am buying as much LTC as I can in exchange for my BTC as a longer term investment. Since I started buying my investment in monetary terms has already doubled. That is pretty sweet.
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Is it only with bitcoins that these can be purchased?
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I've had a look at btc-e.com and have been looking to see how to change my btc's into ltc's. can someone give a heads up about how to do it on the site?
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Once you have sent btc coins to your btc-e account, just enter the amount of LTC's you want.
Make sure you move your LTC's to a encrypted wallet that will always ask for a password before any coins are withdrawn.
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It crashed! Now why?! And what happens next?! I think the Litecoin will start to raise to something more in proportion of the Bitcoin as they both raise back up. People will want to diversify. A coin that is going up and down around $3-$5 feeeeels a lot safer than a coin going up and down from $150-$250. Being at $5 give the Litecoin a much safer appearance too because it's assumed that it needs to stay worth something, which may be incorrect, and it's a lot smaller fall for it to Zer0 then it is for Bitcoins. What I'm trying to say is it's harder to imagine the Litecoin going back down to $0.50 then it is to imagine something bringing the Bitcoin down to $15 for a while! I've heard too that the SR is not a significant factor in the Bitcoins worth anymore or it never was! If we didn't make the Bitcoin valuable then those same people may now see $$ in the Litecoin!! I know this is all just coming from me but I'm trying to start conversation!!
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I would buy Litecoins while they are still cheap, but they could fall again, so i'm keeping an eye on them to see if they fall in value anymore.
Someone said on btc-e last night that people were stupid for buying btc's at the rate they were at last night, and sure enough, people have woken up and lost a little money thats for sure.
Like i said, once LTC's are on Mt.Gox...they will rocket in price.... ;)
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Fuck sake. I was keeping my BTC in hope the price would keep rising untl MTGOX started trading LTC so I could get as many LTC as possible with my saved BTC just before theere value started raising sharply due to MTGOX. But BTC has just crashed :( what should I do.. wait and hope the BTC will raise in value and carry on with original plan, or buy the LTC now just in case the BTC falls even further?
Sorry if this post doesnt make much sense just got back from a night out and a bit fucked.
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Dont think BTC will fall further, its already picking back up at $170
Why didnt you just send the coins to btc-e and swapped for ltc on there, since people are predicting ltc to go up when it hits mt gox
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Dont sell your btcs.
But yeah like Tango said, just buy some ltc's with your btc's. ;)
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Do you guys know where to download a litecoin wallet software to keep on your hard drive?
I was considering investing in it but I don't really trust websites to keep my investments online.
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Dont think BTC will fall further, its already picking back up at $170
Why didnt you just send the coins to btc-e and swapped for ltc on there, since people are predicting ltc to go up when it hits mt gox
My coins are on btce but I was waiting for mtgox to start trading in LTC so I could purchase LTC from my BTC just before the LTC raised hugely. The reason for this was because I thought the BTC would continue to raise therefore geting more LTC for my money.
Dont sell your btcs.
But yeah like Tango said, just buy some ltc's with your btc's. ;)
So should I wait to sell my BTC for LTC in hope BTC raise back up again? But not after MTGOX start trading LTC obviously, if that makes sense..
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The litecoin-qt program is a good offline wallet, you can also use it to mine. Google it and you'll find it easily, don't forget to download the blockchain before you transfer LTCs to it
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subscribing. Considering buying some of them.
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Made .17$ today trading LTC/USD.
Then it crashed while I was in LTC and lost 3 dollars. Considering how I only had about 6.50 to begin with, that kind of sucks.
LTC is way more volatile than BTC, it will crash and recover multiple times in a day. NEVER leave your money sitting in LTC and leave!
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Made .17$ today trading LTC/USD.
Then it crashed while I was in LTC and lost 3 dollars. Considering how I only had about 6.50 to begin with, that kind of sucks.
LTC is way more volatile than BTC, it will crash and recover multiple times in a day. NEVER leave your money sitting in LTC and leave!
Incorrect statement, BTC has decreased by over 160% today. High of 289.99$ low of 105$. Your looking closer to 200%. LTC had a high of 5$ and a low of 3.12$,
LTC came within 20% of daily high after mtgox ddos. BTC went to a high of 187$ after ddos.
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Made .17$ today trading LTC/USD.
Then it crashed while I was in LTC and lost 3 dollars. Considering how I only had about 6.50 to begin with, that kind of sucks.
LTC is way more volatile than BTC, it will crash and recover multiple times in a day. NEVER leave your money sitting in LTC and leave!
Day trading mentality will destroy you. I see BTC and LTC as a long time investment, you'll do your heart a favor by not watching charts all day and reading Troll Box on BTC-E. Steady hands will keep the value of coins gradually and continually moving up.
Just be patient and hold. The sell high, buy low, move money here, there, back and forth to scalp a days wages is the same infection that affects the U.S. Stock Exchange - No one is actually producing or working to better anything and it's left our economy shallow. BTC can be better than that shit.
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Made .17$ today trading LTC/USD.
Then it crashed while I was in LTC and lost 3 dollars. Considering how I only had about 6.50 to begin with, that kind of sucks.
LTC is way more volatile than BTC, it will crash and recover multiple times in a day. NEVER leave your money sitting in LTC and leave!
Day trading mentality will destroy you. I see BTC and LTC as a long time investment, you'll do your heart a favor by not watching charts all day and reading Troll Box on BTC-E. Steady hands will keep the value of coins gradually and continually moving up.
Just be patient and hold. The sell high, buy low, move money here, there, back and forth to scalp a days wages is the same infection that affects the U.S. Stock Exchange - No one is actually producing or working to better anything and it's left our economy shallow. BTC can be better than that shit.
translates to I bought high, and need to sell higher
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p.s. transparent that those cheerleading for LTC are low post count users, with no history, clearly here trying to drive up interest before they dump
looks like a few people fell for it as well
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If it's really events like Cypress that bring the value of the Bitcoin up and not SR then it should continue to rise - rise again - because the global financial situation doesn't have itself figured out yet. This may be where the Litecoin and other crytpocurrenices really come in too. If there are stories of the people in Cyprus buying at $200 and then losing half of it then Litecoin and other coins will look more attractive. The people that are looking to protect their money aren't necessarily looking to double their money; they just want to protect it.
I don't think anyone would take the time to get on the SR forums just to pump up hipe about LTC. A lot of people on SR haven't outgrown their heliocentrism. Drug users usually think they are the center of the world, but I know there are a lot of people here beyond that. The people that really trade in cryptocurrencies don't think SR is responsible for their value. They would be calling up radio stations in countries like Cypress and putting the word out, which if they had done they might have saved a lot of people from having their money halved.