BITCON... WHY its totally FLAWED

To add to that, all of the other scrypt coins seem to be maintaining their prices while bitcoin is dropping due to a flood of supply.
 
2ds said:
To add to that, all of the other scrypt coins seem to be maintaining their prices while bitcoin is dropping due to a flood of supply.
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There is no extra supply, the same amount are mined each day with or without ASIC's as I understand it.

However there is plenty of sellers wanting to pay off their ASIC's and see a ROI I would guess.

Also, am selling a PM 1kg for half AUD, half BTC if anyone is keen - see sales thread.
 
pro$pector said:
However there is plenty of sellers wanting to pay off their ASIC's and see a ROI I would guess.
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Yep. This is pretty much it.
People have got these ASICs and are trying to pay them off before the difficulty is to the moon.
So they're getting the Bitcoins and immediately selling them.

Which to be fair, is a flood of supply. Where most of these coins were hoarded originally, they're now being offloaded and the price is dropping slightly due to the demand being smaller.
 
RetardedMonkey said:
Which to be fair, is a flood of supply. Where most of these coins were hoarded originally, they're now being offloaded and the price is dropping slightly due to the demand being smaller.
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Fair point.

Litecoin seems to be the play right now, I converted most of my BTC over when it was in the low 0.02 range...now starting to convert back to BTC around 0.03.

Not sure how this Gox thing will play out, but I think LTC might have a decent future...I'm just not willing to bet the stack on it I guess.
 
Yeah, if I had known this announcement was going to come to fruition (I really never know what Gox is doing though), I would have liked to have traded into some more LTC, currently only got 100 of them.

Not sure if I want to do it now though, wondering what'll happen to that ratio.
 
You can sometimes pick up some big LTC bargins on the smaller exchanges.

I had a buy for a few hundred LTC sitting on mcxnow.com at 0.02069 and someone sold into the whole thing, on the same night of the Gox announcement and it was like 0.028 on BTC-E...was crazy.
 
pro$pector said:
https://forum.litecoin.net/index.php/topic,4698.0.html

Personally I think fontas is an idiot and full of crap, but you can't deny his ability to move alt-crypto markets.

I get the feeling we haven't seen anything from LTC just yet...
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Yeah, I remember chatting to him before his alt crypto pumps and he talked about all his Bitcoins and Litecoins and I just kind of laughed a bit thinking he was full of it.

He definitely has a sizable market share though, that much is apparent.

I feel like I should be moving half my Bitcoins into Litecoin at the moment.............
 
RetardedMonkey said:
I feel like I should be moving half my Bitcoins into Litecoin at the moment.............
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I want more too...but it just seems so risky at 0.03 and above.

I have been scouring the smaller trading sites today trying to pick them up under 0.03 but not having a whole lot of luck - have only got about 20 more LTC so far.

There was a good MNC pump on mcxnow.com in the weekend, has been 0.0002ish for weeks then someone bought it all the way to 0.000999. Reminded me of the old days from way back 2 months ago. :lol:
 
I've only got 75 LTC haha.

I think even when LTC bubbled in its initial burst (and hit $5-6), it didn't go much above the 0.035/0.04 ratio with BTC

This could be different though, MtGox and all, that's a lot of market visibility.
 
I've been watching the ratio climb for the last two days, LTC is becoming more and more profitable.

Any thoughts on where/if you can actually get an ASIC miner at the moment?
 
2ds said:
Any thoughts on where/if you can actually get an ASIC miner at the moment?
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Theres heaps for sale all over the show, some suppliers only sell in bulk though so you need to join group buys.

To be honest it's probably a better idea to just buy ASICMiner securities (shares) if you think ASIC's and BTC are the best bet on the table.
 
pro$pector said:
2ds said:
Any thoughts on where/if you can actually get an ASIC miner at the moment?
Click to expand...

Theres heaps for sale all over the show, some suppliers only sell in bulk though so you need to join group buys.

To be honest it's probably a better idea to just buy ASICMiner securities (shares) if you think ASIC's and BTC are the best bet on the table.
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So my thinking was that the network is most healthy when there are a lot of small entities all supplying hashing capacity to it.

a small number of big entities supplying the hashing capacity makes the network less healthy.
 
2ds said:
So my thinking was that the network is most healthy when there are a lot of small entities all supplying hashing capacity to it.

a small number of big entities supplying the hashing capacity makes the network less healthy.
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I appreciate your point and it makes perfect sense, if it's a question of supporting the network then go for it. You'll find plenty of info on buying them at the bitcointalk forums.

However it may be a bit late if your looking for profit, there's some huge ass hashing rates coming from single IP's these days.

I think getting ROI on an ASIC or two takes quite some time now, and that will only get worse one would guess.
 
I've been re-thinking Bitcoin a lot lately. I used to think it was the be-all-and-end-all of digital currency. After reading a bit about Litecoin, now I'm not so sure. And with MTGox supporting Litecoin, supposedly, that has made me think even more. It's all important if you are going to speculate on them.

With the bubble only being a couple months ago, I didn't even have any intention of looking at it again until at least next year. Trading the ins and outs of the currencies is just not my thing.

Now, I'm just trying to figure out the landscape of digital currency to see where the next jumping on point might be. If Litecoin can be a contender, why not other currencies? Has the first-to-market advantage lapsed already?
 
willrocks said:
Litecoin is the next contender for reasons I previously mentioned.

IMO the next contender will be based on some significant technological advantage rather than a position in the first-to-market queue.
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Even LTC confirms are still not fast enough for shop front applications (if crypto-currency ever comes to that).

Worldcoin (WDC) is the fastest (I think) with 45 second confirms.

It could be anything that emerges from the current alt-crypto mess with so many to chose from, personally I still think BTC has to become more mainstream before any of the others stand a chance.

I do think that LTC is primed for a huge pump and dump like BTC had, as there are so many people pissed they missed the BTC ride and are looking for the next "big thing".
 
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