Silk Road forums
Discussion => Off topic => Topic started by: shimbabwe on May 12, 2013, 02:40 pm
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Pretty simple question, just curious where the community stands on it.
I'm not trying to suggest it would be an easy thing to implement as I know nothing about coding.
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Not really. Would be an unnecessary complication for all involved, imo.
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no. if i mined litecoins or bought them when they were a penny, yes.
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they are only worth around .029 bitcoins right now. If Silk Road added support for it the value would skyrocket, still allowing for large profit gains.
just remember what Wu Tang Financial said
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It'd make money laundering that much easier. Go for it.
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how is this considered Off Topic?
it's a discussion, about Silk road
if only there was a forum for it...
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I wouldn't.
it would only benefit a small-ish number of people who have LTC.
wtf the point of buying btc.. trading on btc-e for ltc then buying here.
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it wouldn't replace bitcoins it would just be an alternate option. Nobody is saying vendors would HAVE to accept it, it would be solely at their discretion whether they would or would not.
You guys seem to think it is too late to get on the Litecoin train, when it's really still sitting at the station waiting for a conductor to arrive. Whether DPR wants to be that conductor is up to him/her/it, but I think diversity is never a bad thing
Bitcoins used to be worth 3 dollars too until SR blew up in popularity
SR accepts litecoins ---> litecoins blow up in value
it's not like I'm preaching for PPC coins to be on SR like let's be reasonable here
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There is only one exchange that I know of that uses litecoin. Sounds pretty centralized for the time being.
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how is this considered Off Topic?
it's a discussion, about Silk road
if only there was a forum for it...
Before i even clicked on the thread i was going to suggest this.
We would get a ton more input and votes if it were to be moved to the main SR discussion thread.
and yes i am in favor of it! It would screw with the feds and bankers even more.
As for coding, i do not know a lot about coding either but hey, DPR invented SR and simply adding another crypto is probably not as difficult as that.
LTC is still unbelievably cheap right now, stock up on them just for the hell of it incase they add LTC to SR.
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I did start in in SR discussion but it got moved into Off Topic
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I say we all just talk to DPR and hoard a shit ton of cheap LTC and then he implements it & we all profit big time 8)
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I'd like to know the downsides of implementing litecoin. Would it negatively affect the current state of things?
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the only thing I could think of would be there is too much clutter on the screen with both btc and ltc prices listed.
if there was an option to display one or the other or both it would be avoidable though
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Diversity can only be a good thing. If SR supported numerous cryptcurrencies we'd be less vulnerable to fluctuations etc wouldn't we?
Atlantis support litecoins too, so I'd imagine it's good for SR to keep up with competitors.
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how is this considered Off Topic?
it's a discussion, about Silk road
if only there was a forum for it...
Hi shimbabwe,
I moved this to Off topic as it is a discussion about Litecoin and the desire to see it integrated into Silk Road, not a discussion about Silk Road itself nor Silk Road's current features etc.
Libertas
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ok kind of splitting hairs but its not a huge deal
heavily invested in bitcoin are we?
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Sure, I got a few litecoins and would love their value to increase. :D
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ok kind of splitting hairs but its not a huge deal
heavily invested in bitcoin are we?
My decision to move this to Off topic was made for the reason outlined in my previous post; my own personal investments, regardless of what those might be, do not affect the decisions I make as a forum moderator.
In the interest of full disclosure, however: my current crypto-currency holdings are roughly split between 65% Bitcoin and 35% Litecoin; I also mine Litecoin on a small scale.
Litecoin being accepted on Silk Road would make me significantly wealthier, but I do not think it is ever going to happen as there is absolutely no need for it due to the divisibility of Bitcoin.
Libertas
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Litecoin being accepted on Silk Road would make me significantly wealthier, but I do not think it is ever going to happen as there is absolutely no need for it due to the divisibility of Bitcoin.
If you don't believe it will EVER happen and there is NO use for it then why are you so heavily invested?
Also, no one has come and posted how adding litecoin will negatively affect the current state of things on Silk Road.
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Litecoin being accepted on Silk Road would make me significantly wealthier, but I do not think it is ever going to happen as there is absolutely no need for it due to the divisibility of Bitcoin.
If you don't believe it will EVER happen and there is NO use for it then why are you so heavily invested?
Also, no one has come and posted how adding litecoin will negatively affect the current state of things on Silk Road.
Silk Road is not a pre-requisite for the successful take-off of a crypto-currency. I'm heavily invested in Bitcoin for the long term - I keep the majority of my Bitcoin in a cold storage savings wallet. Litecoin is something I like to play around with on the market, hence my 35% Litecoin holdings. I guess you could say I view Litecoin as my 'play money', something which MAY make me wealthy, and Bitcoin as my retirement fund, something which I believe WILL make me wealthy.
Adding Litecoin doesn't have to negatively affects the current state of affairs on Silk Road for it not to be considered as a possible payment option - it simply offers no added benefits here due to the divisibility of Bitcoin.
Libertas
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wouldn't a benefit be that it is erasing the single thing Atlantis has that Silk Road doesn't?
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wouldn't a benefit be that it is erasing the single thing Atlantis has that Silk Road doesn't?
That would be a benefit, yes, but I don't see Atlantis growing large enough to be a significant threat to Silk Road's market share; I don't even see it becoming large enough to be a real threat to Black Market Reloaded, though I could, of course, be completely wrong on that.
The current benefits of introducing Litecoin aren't big enough for it to be a need; and who knows, perhaps DPR doesn't want to do anything detrimental to Atlantis in its youth. This entire place is about something more than a marketplace - it is about freedom, and the more places that exist for people to go to means that if LE somehow managed to take down one or two of those places, there would still be more!
DPR is a freedom fighter of the digital age. Silk Road is a tool employed by him/her to effect change in the world we live in. With more tools - and perhaps more targets for LE, meaning their resources are spread more thinly - we can achieve more change.
Libertas
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DPR is a freedom fighter of the digital age. Silk Road is a tool employed by him/her to effect change in the world we live in. With more tools - and perhaps more targets for LE, meaning their resources are spread more thinly - we can achieve more change.
Libertas
This is the same line of thought that leads me to think using more than one currency would be beneficial in the wider scheme of things. More than one currency = more decentralisation surely?
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they are only worth around .029 bitcoins right now. If Silk Road added support for it the value would skyrocket, still allowing for large profit gains.
just remember what Wu Tang Financial said
Hi Shimbabwe,
What did Wu Tang Financial say ?
(or was that the setup for a joke ?)
s1llyn355
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DPR is a freedom fighter of the digital age. Silk Road is a tool employed by him/her to effect change in the world we live in. With more tools - and perhaps more targets for LE, meaning their resources are spread more thinly - we can achieve more change.
Libertas
This is the same line of thought that leads me to think using more than one currency would be beneficial in the wider scheme of things. More than one currency = more decentralisation surely?
I agree completely... although, it could reduce the volume of money flowing into bitcoin.
Those with substantial wealth tied up in bitcoin may see the value of their investment drop significantly.
...so perhaps ... swings and roundabouts....time will tell.