One would be rather silly to "spend" them during the current phase where they are finding fair market value relative to fiat... once they do, then spend by all means. It will be the same for gold someday - hopefully soon - once physical prices separate from the fraudulent paper market... Then physical gold and silver will go through the same pricing discovery that BTC and LTC currently are. During that meteoric rise of precious metals (physical) one would be stupid to swap them out for fiat or "spend" it.
What's the easiest way to turn LTC in to AUD at the moment? I've got some that I'll be keen to unload soon.
Think I might fire up both the 7970's again for mining purposes. Judging by the calculator, even getting 0.8 LTC per day is going to get me about $30 in profit per day :lol:
I was going to buy a 10oz ag bar today but thought I would get some skin in the crypto game and bought 10 this morning for $324 AUD Just going to sit back now and see what happens, it's kind of fun watching BTC-E now I have some, even if it goes back to $10 it wouldn't bother me. I have only invested what im prepared to loose, I just wish I had got on this horse when they $2 :/
I think that too. willrocks gave me 3 when they were about US$3. I practiced on btc-e with them, ending up swapping them for BTC - next day...well that's history. I temper my lack of fortune with LTC by saying I probably would have bailed when it got to $10. What it has taught me is that maybe when gold doubles I shouldn't sell all of it. There is nothing to suggest gold can't get to $50000/oz, after all, crypto-currencies which are just nothingness essentially have 1200% rises in some cases. Sinclair doubters argue that only hyperinflation can send gold to $50000/oz, well that has not been a factor with cryptos. Keep just enough skin in the game.
So guys, whats going to happen over the next week ? I just wore out my crystal ball from rubbing it too much