BITCON... WHY its totally FLAWED

Phiber said:
You would need to do that if you ever wanted to cash your bitcoins out though... how have you been purchasing your BTC if not through an exchange? (assuming you have)
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Haven't purchased anything yet.

Was hoping I'd find someone here to purchase for me through their verified account and I can do bank transfer to them.
 
RetardedMonkey said:
Phiber said:
You would need to do that if you ever wanted to cash your bitcoins out though... how have you been purchasing your BTC if not through an exchange? (assuming you have)
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Haven't purchased anything yet.

Was hoping I'd find someone here to purchase for me through their verified account and I can do bank transfer to them.
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That would be good yep

What client do you guys use for mining LTC?
 
Wanting to mine. Moved houses a week ago notified Telstra two weeks prior so they connect a house 500 kms away with the same address still no phone or net frustrated.
 
1for1 said:
RetardedMonkey said:
So you guys are buying BTC through MtGox then transferring to BTC-E for Litecoin?

Might have to do this also. The price is slowly climbing... LTC/USD 0.69543999 now.

(which means I've got $20~ worth of Litecoins from mining now!)
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Nah i just used my mined coins and the btc i traded for silver back when it was $10 per btn

But id like to buy some more btc, been using BTE-E all day.. its a very nice site.. but be pateint.. ive just traded my first btc for ltc

1for1
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still going up. can't get in quick enough. Wish I had more GPUs now.
 
hi
1for1 said:
Noppy said:
I have been trying to get some money into btc-e this morning but it is nearly impossible. Think I will have to buy bit coins on gox then send them to btc-e then convert them to litecoin.


Just want to give my stack of them a good start whilst they are less than a dollar as I can't see the price staying there for long with Atlantis up and running now.


Have about 30 coins now from mining which will continue to grow the stack.
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Classic... i have just sent some btc to my btc-e account.. waiting for it to get credited then up buying up a ltc storm son!

Just need to buy some more btc now to replace what im gonna use to buy some ltc

See you at the top

1for1
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To the top. Been trying to spread the litecoin and Atlantis word. I think the quick verification will be a big positive.
 
Noppy said:
still going up. can't get in quick enough. Wish I had more GPUs now.
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Going to be leaving BOTH mine mining now I think. Gives me numbers like this "Your average speed for 10 minutes ~ 1178 KH/s.", so it'll help.
 
Actually, with btc-e, do I just add Litecoin's from my wallet to their finances section and then I can trade/sell that for USD that will be credited to my account? Just making sure I have some sort of exit strategy.
 
RetardedMonkey said:
Allaboutcams said:
Would anybody here be interested in buying litecoins
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I am interested. I am just still determining a way to get them without getting jewed.
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This is how im going to do it, i know someone that does exchanges from paypal/paxum to okpay the only thing is i don't get paxum until next week. When i do ill send $300usa from paxum to okpay (not sure on fees) $300 i dont need to be verified then transfer to btc-e.
If that works out i dont mind doing paypal/bank deposit for coins as long as you have trades on here and no more than 20 paypal (or silver swap).
 
Noticed that BTC-e does Paypal withdraws in USD too.
5.5% fee on it though . so many fees!

As to the above, we'll see how you go.
 
RetardedMonkey said:
Actually, with btc-e, do I just add Litecoin's from my wallet to their finances section and then I can trade/sell that for USD that will be credited to my account? Just making sure I have some sort of exit strategy.
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I think the exit strategy is the most important thing here .Trying to determine the quickest out seems to be the archilles heel . . From reading your guys posts it looks like the fees are worse than banks & nowhere as easy to cash out . Maybe trading out is the way to go
 
renovator said:
Trying to determine the quickest out seems to be the archilles heel . .
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Could not agree more.

So far, my best route is:

1. Send coins from my wallet to BTC-e finances section
2. Trade out for USD
3. Withdraw USD from BTC-e using Paypal option

5.5% fees charged and minimum $50 USD withdraw for using Paypal

But to be fair, it's the only thing I have found in the whole Bitcoin/Litecoin world that even resembles something usable as a payment system.
 
There was a post on Mt.gox's Facebook page that said they are going to look into a ltc exchange after they have completed their current exchange system upgrade. I hope that is up and running by the time I need to cash out, as all my my.gox cash outs have been very quick but with a tasty $10 fee which means I have to have 2 less beers for the week :(
 
OK back to the thread's original title :) .....

How are bitcoins still considered to be a limited resource if there are now also litecoins ?

And when litecoins go up in value won't there be minicoin or something else ?

And what is to stop others from launching further xxxcoin systems ?
 
It looks like soon there will be an over abundance of internet crypto-currencies with a lack of 'real world' support (too much hassle if you want to convert to AUD, lack of interest from business on a broad scale, governments now beginning to respond negatively). With one widely supported crypto currency you have something that stands a chance of making a real impact. But with multiple currencies your chances of getting that wide support diminishes greatly. Can I buy stuff on Amazon with Bitcoin, Namecoin, Devcoin, Litecoin, Solidcoin, Ixcoin, PPCoin or Terracoin? No.

I'm interested in Bitcoin, but that's just my feeling about it right now.
 
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