The Litepresence Report on Cryptocurrency

[PaulConventionWV]

I'm waiting for that ltc/btc uptrend that signifies true market reversal :|
Is it being manipulated? LTC just doesn't seem to be delivering...

It could be a "have to contain it while positioning myself" type of market move.

Market sentiment is; "It might go up but we don't know, better to play safe with BTC or get on another alt coin wave."

Whooaahhh... I think we're a little way off from that phase of the bubble. We're still in the recovery phase right now. The ltc/btc ratio doesn't move until the beginning of the actual bubble. If you'll recall, ltc/btc was .0075 before the last bubble and went up to .05 as btc was starting to skyrocket. If we even get there, it's still got room to fall. The btc market could go sideways for a couple of months before the next real bubble.

 

[lotsOfCake]

Whooaahhh... I think we're a little way off from that phase of the bubble. We're still in the recovery phase right now. The ltc/btc ratio doesn't move until the beginning of the actual bubble. If you'll recall, ltc/btc was .0075 before the last bubble and went up to .05 as btc was starting to skyrocket. If we even get there, it's still got room to fall. The btc market could go sideways for a couple of months before the next real bubble.

yah but last time, there was a bit of a blip in ltc/btc as the market turned from bear to bull.

well i could be wrong; and it could have been just rumor fueled, and not in correlation to the bear/bull turn.

Yeah I'm definitely not suggesting holding LTC for the next few months. I mean it could spike, but it's more likely to generally tank, like last year april->november.

I'm just wondering if I am justified taking risks for a possible "blip" in ltc/btc.

 

[PaulConventionWV]

yah but last time, there was a bit of a blip in ltc/btc as the market turned from bear to bull.

well i could be wrong; and it could have been just rumor fueled, and not in correlation to the bear/bull turn.

Yeah I'm definitely not suggesting holding LTC for the next few months. I mean it could spike, but it's more likely to generally tank, like last year april->november.

I'm just wondering if I am justified taking risks for a possible "blip" in ltc/btc.

Based on recent news, I wouldn't risk it. Have they mitigated the risk of 51% attack?

 

[lotsOfCake]

Based on recent news, I wouldn't risk it. Have they mitigated the risk of 51% attack?

https://www.litecoinpool.org/pools
its down to 34% on coinotron, i'd say that's far enough from 51%

also there's the asics, increasing the ltc hashrate. I dont know how that will count, but in theory it increases the security of the ltc network.

Biggest detracting factor is the recent success of DRK, i suppose.

 

[muh_roads]

DRK is taking a huge shit today.

Large amounts of coins were hidden in a block and tons of that coin was being transferred to exchanges. Community made too many forks trying to ignore the large block and exchanges shut down the trading pair.

What a disaster. lol

 

[lancien]

HOLY DOGE SHIT! 55

Hey I read a lot but this is my 1rst post, you see us headed to 55 then rebound? LTC reboud? Doge follow? thanks

 

[lotsOfCake]

my guess;
money escaping drk through whichever markets are still trading it. they might bug out. people will buy other alts.
other alts include LTC and x11coin (xc). i just hope quark isn't one of the winners from this, i dont like quark.

 

[muh_roads]

Guys, buy BTC. It's time. I'll let you know when to switch to LTC.

EDIT: Set descending buy orders.

pres, turn on skype.

 

[zeMan]

Although there is something concerning. There aren't a lot of whales that own LTC. They believe Scrypt coins will die once Scrypt ASIC's launch. And more people have bought those than when people were buying BFL 65nm generation. I was told the great coin consolidation is upon us. Each new paradigm shift will have a new generation of algorithm competition.

Scrypt will be replaced by X11 coins.

pres, can you fine tune icy for BTC/USD? I'm a little concerned about LTC/USD not replicating the previous bubble.

I also would feel more comfortable with a BTC tune... Who is to say LTC will stay number 2?

 

[nayjevin]

I also would feel more comfortable with a BTC tune... Who is to stay LTC will stay number 2?

I am acting under the assumption that this is a great example of a time when fears are misaligned with reality. Both 51% problem and potential for altcoin to take over LTC are overblown IMO. There will be a market for greater anonymity, but it could be of limited value, as most users won't be concerned when wider adoption occurs. (Most people aren't concerned.) Also, any necessary user-friendly anonymity solutions may be adequately implemented as a layer on BTC/LTC or clientside. I don't at all think this is necessarily the best time to buy LTC, but I think the price is reflecting fear that isn't warranted.

Additionally, I don't think a coin necessarily needs to be mineable by average joe to be successful. There is the potential for centralization in mining being a legitimate threat to the security or adoption of the coin. But ASIC use isn't in and of itself a problem anymore than Walmart is.

 

[muh_roads]

I also would feel more comfortable with a BTC tune... Who is to stay LTC will stay number 2?

I don't know. But during the last bubble LTC sank as low as 0.007 before climbing to 0.05

It will get pumped again. But now is apparently not the time everyone is saying.

Where is pres?

 

[nayjevin]

Guys, buy BTC. It's time. I'll let you know when to switch to LTC.

EDIT: Set descending buy orders.

pres, turn on skype.

I am no expert by a long shot, on trends analysis (hence my simple and conservative strategies). But when I look at the 12 hour chart on bitcoinwisdom, it looks to me like since our last flat spot May 1-15, which was 400 - 450, we're in a mostly pump bubble, partly a reflection of good news. Wouldn't we expect a correction to 450-525, and then another flat spot?

 

[amonasro]

I was more bullish up until last night, thinking we might get another leg up. But after watching Huobi test and retest 3600 on relatively low volume I started to doubt. There was just enough buy pressure to keep us there, but no more. And if that runs out, it's correction time to 3000-3300. Also 1D/3D RSI indicates that we are oversold.

Spank Bot sold me out this morning. I guess he agrees. I hope he's right so I can recoup some of the losses.

 

[LibertyTeeth]

Spank Bot sold me out this morning. I guess he agrees. I hope he's right so I can recoup some of the losses.

Yeah, me too; now: -2% ROI on currency, and -6% ROI on LTC.

Currently 100% losing trades: sold what I brought in, between 10.57 and 10.52. Bought in again between 11.40 and 11.66. Sold between 11.07 and 11.13.

 

[PaulConventionWV]

I was more bullish up until last night, thinking we might get another leg up. But after watching Huobi test and retest 3600 on relatively low volume I started to doubt. There was just enough buy pressure to keep us there, but no more. And if that runs out, it's correction time to 3000-3300. Also 1D/3D RSI indicates that we are oversold.

Spank Bot sold me out this morning. I guess he agrees. I hope he's right so I can recoup some of the losses.

I think it will hold. I sold in a dip so now I'm waiting for it to go back down a notch so I can buy and hold. I'm not going to try to predict the next retracement. Once I get back in, I'm long. I'm making a sizable chunk already, so I have a cushion.

 

[muh_roads]

I am no expert by a long shot, on trends analysis (hence my simple and conservative strategies). But when I look at the 12 hour chart on bitcoinwisdom, it looks to me like since our last flat spot May 1-15, which was 400 - 450, we're in a mostly pump bubble, partly a reflection of good news. Wouldn't we expect a correction to 450-525, and then another flat spot?

The thing about whales is they completely fuck with TA.

 

[muh_roads]

A whale is exiting PPC hard. They're stacking BTC.

 

[nayjevin]

The thing about whales is they completely fuck with TA.

Kinda my position. Uptrend doesn't match fundamentals, looks like pump.

 

[PaulConventionWV]

Kinda my position. Uptrend doesn't match fundamentals, looks like pump.

A temporary FUD phase IMO, supported by the comments I see here.

 

[presence]

Nice dude. So glad tradewave is finally open for business.

Are you finding it less restrictive than cryptotrader?

I'm loving tradewave. If I didn't know I was coding online... I wouldn't know I was coding online. It smooth as a desktop environment. I've release a TON of open source python this past week to help people get started at TRADEWAVE.

https://discuss.tradewave.net/category/code-examples

iceberg-limit-orders-v1-0-beta-litepresence
directional-movement-dmi-and-adx
candlestick-pattern-recognition-indicators
hilbert-transform
parabolic-sar-extended-version
account-balances-and-roi-module
create-list-of-length-n-from-left-to-right-and-right-to-left
ma-slope-concavity-acceleration-jounce
talib-moving-averages-by-ma-type
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aroon-mfi-vwap-script