The Litepresence Report on Cryptocurrency

[presence]

looks like we finally got a little pop in LTC! hoping we finally get some higher highs and higher lows

indeed

so my outlook here becomes... this is a ltc pump... there are three ways to enter; confidently by supporting it now at the 790 market rate...

at the 770 fuck you litecoin touchback

or on the 810 breakout.


I tend to lean 810 breakout; I'll keep my eye on it today and consider supporting a rally

 

[bullhammer]

indeed

so my outlook here becomes... this is a ltc pump... there are three ways to enter; confidently by supporting it now at the 790 market rate...

at the 770 fuck you litecoin touchback

or on the 810 breakout.


I tend to lean 810 breakout; I'll keep my eye on it today and consider supporting a rally

Yes the breakout is probably the conservative approach,
i still think we are coming up out of the bottom of a large cup and handle pattern in both LTC and BTC

 

[XTreat]

Do any of you guys use Lawnmower or know anyone who does?

 

[presence]

https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff#.esveh6f3q

Bitcoin Roundtable19 hrs ago2 min read



Bitcoin Roundtable Consensus

On February 21st, 2016, in Hong Kong’s Cyberport, representatives from the bitcoin industry and members of the development community have agreed on the following points:

• We understand that SegWit continues to be developed actively as a soft-fork and is likely to proceed towards release over the next two months, as originally scheduled.
• We will continue to work with the entire Bitcoin protocol development community to develop, in public, a safe hard-fork based on the improvements in SegWit. The Bitcoin Core contributors present at the Bitcoin Roundtable will havean implementation of such a hard-fork available as a recommendation to Bitcoin Core within three months after the release of SegWit.
• This hard-fork is expected to include features which are currently being discussed within technical communities, including an increase in the non-witness data to be around 2 MB, with the total size no more than 4 MB, and will only be adopted with broad support across the entire Bitcoin community.
• We will run a SegWit release in production by the time such a hard-fork is released in a version of Bitcoin Core.
• We will only run Bitcoin Core-compatible consensus systems, eventually containing both SegWit and the hard-fork, in production, for the foreseeable future.
• We are committed to scaling technologies which use block space more efficiently, such as Schnorr multisig.

Based on the above points, the timeline will likely follow the below dates.

• SegWit is expected to be released in April 2016.
• The code for the hard-fork will therefore be available by July 2016.
• If there is strong community support, the hard-fork activation will likely happen around July 2017.

The undersigned support this roadmap.
Together, we are:
Kevin Pan
Manager
AntPool
Anatoly Legkodymov
CEO
A-XBT
Larry Salibra
Bitcoin Association Hong Kong
Leonhard Weese
Bitcoin Association Hong Kong
Cory Fields
Bitcoin Core Contributor
Johnson Lau
Bitcoin Core Contributor
Luke Dashjr
Bitcoin Core Contributor
Matt Corallo
Bitcoin Core Contributor
Peter Todd
Bitcoin Core Contributor
Kang Xie
Bitcoin Roundtable
Phil Potter
Chief Strategy Officer
Bitfinex
Valery Vavilov
CEO
BitFury
Alex Petrov
CIO
BitFury
Jihan Wu
Co-CEO
Bitmain
Micree Zhan
Co-CEO
Bitmain

James Hilliard
Pool/Farm Admin
BitmainWarranty
Yoshi Goto
CEO
BitmainWarranty
Alex Shultz
CEO
BIT-X Exchange
Han Solo
CEO
Blockcloud
Bobby Lee
CEO
BTCC
Samson Mow
COO
BTCC
Robin Yao
CTO
BW
Obi Nwosu
Managing Director
Coinfloor
Mark Lamb
Founder
Coinfloor
Wang Chun
Admin
F2Pool
Marco Streng
CEO
Genesis Mining
Marco Krohn
CFO
Genesis Mining
Wu Gang
CEO
HaoBTC
Leon Li
CEO
Huobi
Zhang Jian
Vice President
Huobi
Adam Back
Individual
Eric Larchevêque
CEO
Ledger
Jack Liao
CEO
LIGHTNINGASIC & BitExchange
Star Xu
CEO
OKCoin
Jack Liu
Head of International
OKCoin
Guy Corem
CEO
Spondoolies-Tech

 

[XTreat]

In English please.

 

[presence]

In English please.

Huobi, Okcoin, and Bitfinex... along with many major players in the industry have just released a memo stating that they agree that block size needs to increase; about 2-4meg; and they've given a timetable and a general "plan of action" between here and there; including a fork around the same time of as the July 2016 halvening


upon announcement price broke out beyond 20 day linear resistance; but then fell back sharply. its fallback did not go through linear support and seems to have bounced soundly


classic nodes seem to have plateaued at 900; a push past 1000 after the announcement would be a noteworthy demonstration of dissent.


Honey Badger is still in coins off the 5m fractal break break at 380

 

[presence]

image may extend beyond right edge; right click "view image"

 

[muh_roads]

Just to add to this, they agreed to Core's method of increasing the blocksize. But that upgrade wouldn't come until July 2017. China wants nothing but Core. They will continue to ignore Classic.

When Blockstream is ready with the massive Sidechain upgrade for Bitcoin, something called "The Lightning Network" is a Sidechain that will handle all the transactions we'll ever need for a long time. At least, that is the plan. I think someone said it would be the equivalent of a 40MB blocksize to start, but Sidechains will handle a lot of the transactions off the main chain, and still behind the security of Bitcoin's network hashrate.

Some complain that Bitcoin Core is now owned by Blockstream. Some of the Core devs also work for Blockstream.

Huobi, Okcoin, and Bitfinex... along with many major players in the industry have just released a memo stating that they agree that block size needs to increase; about 2-4meg; and they've given a timetable and a general "plan of action" between here and there; including a fork around the same time of as the July 2016 halvening

 

[presence]

When Blockstream is ready with the massive Sidechain upgrade for Bitcoin, something called "The Lightning Network" is a Sidechain that will handle all the transactions we'll ever need for a long time.

as I understand lightning will be for retail transactions and theoretically charge a relatively steep 0.5% fee but be instantaneous

 

[presence]

Yes the breakout is probably the conservative approach,
i still think we are coming up out of the bottom of a large cup and handle pattern in both LTC and BTC

Well... I bit.

Balls deep. 00800 last night.


00805 last

seems I got a bit of buffer on the pullback

 

[fatjohn]

Major break higher, especially ltc.

The little monkey still agrees.

Although short term dip to high 21's possible.

If low 21's is reached the forecast for moon becomes void

 

[bullhammer]

Well... I bit.

Balls deep. 00800 last night.


00805 last

seems I got a bit of buffer on the pullback

excellent LP! I'm guessing we may see a pop up to o.01 in the next couple days? maybe move back up onto a trend line above $4USD ++ ??
currently .086

 

[presence]

 

[fatjohn]

 

[FSP-Rebel]

LTC buy signal or hold if ya got em.

 

[FSP-Rebel]

Why A Hedge Fund Manager Who Made A Killing From Subprime Is Buying Bitcoin

Long before "The Big Short's" Michael Burry was a household name for his insight into the upcoming subprime crisis of 2006-2007, there were many others among them John Paulson, Kyle Bass, and Corriente Advisors' Mark Hart. Just like Bass, Mark is another Texas-based hedge fund manager who correctly predicted, and profited from, the subprime crisis. He is also an expert on China, and in fact, just last month in the aftermath of the recent Chinese devaluation which roiled markets, he said that "China should weaken its currency by more than 50 percent this year."

...

Why bitcoin?

The same reason we gave back on September 2, 2015 when Bitcoin was trading at $215 in a post titled "China Scrambles To Enforce Capital Controls (Which Is Great News For Bitcoin)" and long before the topic of China's capital controls, and their circumvention, became a routine topic of conversation. As we explained simply, with Chinese capital controls increasingly more strict, the local population, which was nearly $25 trillion in deposits in local banks, will rush to transfer these massive amount of savings offshore, and will end up using bitcoin to do it.

...

So what is one trade that can be put on to bet on further Chinese devaluation (or outright economic collapse) with limited downside, with unlimited upside, and one which is guaranteed to be profitable if and when the local Chinese depositor herd gets out of Yuan en masse after the next 10%, 20%, 50% or more devaluation and rushes into bitcoin? Simple: do precisely what we said in September, and precisely what Corriente's Mark Hart is saying now: buy bitcoin, because once the Chinese buying frenzy is unleashed, and $25 trillion in deposits scramble to be packed into a product with a $6.5 billion current market cap (but only when the price of a bitcoin is $430; the market cap does rise to $25 trillion if every bitcoin is worth $1.6 million) one thing will happen: the price of bitcoin will soar exponentially.

http://www.zerohedge.com/news/2016-02-26/why-hedge-fund-manager-who-made-killing-subprime-buying-bitcoin

 

[presence]

bitcoin you dirty hoe

 

[bullhammer]

bitcoin you dirty hoe

yes I was wondering if you are still hanging in there LP, I still think the LTC downside is very limited and the upside is limitless! stay the coarse, hold the line.....

 

[presence]

chillin... I don't move often

 

[muh_roads]

as I understand lightning will be for retail transactions and theoretically charge a relatively steep 0.5% fee but be instantaneous

It is supposed to handle all the micro-transactions up to 40MB with a 1.8-2.0MB buffer to start, but I haven't looked into the fee structure though.