The Litepresence Report on Cryptocurrency

RonPaulIsGreat said:
I was being hyperbolic a bit, I don't even have a 100 bitcoins, and just holding. I'm not trading.

What's weird is Ethereum holding it's BTC ratio pretty well despite the "surge" in BTC.
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Most alt coins don't really fall much when BTC gets a surge, most of the alt exchanges price in bitcoin and ignore fiat. (Btc-e being one of the exceptions). It's not like doge became worth more when BTC dropped.
 
RonPaulIsGreat said:
I was being hyperbolic a bit, I don't even have a 100 bitcoins, and just holding. I'm not trading.

What's weird is Ethereum holding it's BTC ratio pretty well despite the "surge" in BTC.
Click to expand...

Ethereum scares me. I want but don't want. The mining inflation rate for PoW sounds retarded. When it ends and they switch to PoS, it is supposed to increase by 10% per year. I keep getting different numbers on the real inflation rate and they all sound crappy. I think one of them said bitcoin will have an additional 38% inflation over the next 20 years. But then it practically stops. Ethereum by comparison is going to go up 1800% over the next 20. And I don't think it stops there.

Ethereum current supply is already at 89m in 1 year. Bitcoin is at 14m over 7 years?

A lot of money is going to need to keep pouring in to keep eth floating, I'd think.

There are a lot of brains within the Ethereum community. Unfortunately I think they are liberal brains that don't care about economics or supply and demand. Maybe the demand will be there? Bitcoin Sidechains are going to do the same thing soon. Lisk I think is the first Sidechain that adds javascript functionality for companies that act as bitcoin services in a more decentralized way.

The end game for all of this I think is replacing middleman bankers in as many sectors of banking as possible.
 
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muh_roads said:
The end game for all of this I think is replacing middleman bankers in as many sectors of banking as possible.
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I think you're right and that's why ETH is doing so well. The built in code ability within ETH is very neat. Although we're seeing some of the various problems with the DAO rollout (Which is still the largest crowdsourced project in history with a start of 220 million USD) - the contract written into ETH may violate various laws (Stock, investment, acting as an exchange, so many things...). Although this hasn't hurt the price of DAO so that's a bonus. We're seeing just the beginning of what crypto contracts can achieve and there is still a lot for the community to figure out on how best to use it.
 
Need some advice, I'm sitting on about 2000 LTC because I have a ASIC Script Miner that is a beast.

I traded a shit load of them to BTC last summer when the ratio hit .015-.018 but have been holding them ever since.

So what should I do with them? Does anyone expect LTC/BTC ratio to catch up or should I go ahead and get all into BTC now? Half and half maybe?
 
XTreat said:
Does anyone expect LTC/BTC ratio to catch up
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YES, historically when BTC level's up... it begins a growth curve... alt ratios suffer.... FOMO intensifies.... then suddenly the alts pump.

https://bitinfocharts.com/en/comparison/marketcap-btc-eth-ltc-dash-ppc-nmc.html#log

I'm holding LTC patiently.

LTC lacks "latest and greatest tech" but its fundamentals are very strong.... its accepted at EVERY major alt coin exchange. Its trade volume is huge, its daily transactions... huge, average transaction value is actually greater than BTC, and hashrate is solid.

0.0225 is destiny

:D
 
I wouldn't call the DAO a complete scandal. AFAIK, no ETH was lost, it's just being refunded. A hundred million+ crowd funding project was a victim of its own success.

This does drive down the price of ETH for a bit, I assume there will be a DAO 2 or whatever.
 
Ok tnx! :)
Actually i decided to jump out of it on the spot right after i wrote the post.
Seems as a good decision now as it broke through the support by now and is still falling.
I almost broke even :)
 
kpitcher said:
I wouldn't call the DAO a complete scandal. AFAIK, no ETH was lost, it's just being refunded. A hundred million+ crowd funding project was a victim of its own success.

This does drive down the price of ETH for a bit, I assume there will be a DAO 2 or whatever.
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A DAO and ETH buying opportunity I would assume. I'd like to see ETH mimic the downward 2014 btc period.

I still don't understand DAO. Couldn't another just be made leaving current DAO holders screwed? There is already something called DigixDAO...
 
http://pastebin.com/CcGUBgDG


#REKTH



===== BEGIN SIGNED MESSAGE =====
To the DAO and the Ethereum community,

I have carefully examined the code of The DAO and decided to participate after finding the feature where splitting is rewarded with additional ether. I have made use of this feature and have rightfully claimed 3,641,694 ether, and would like to thank the DAO for this reward. It is my understanding that the DAO code contains this feature to promote decentralization and encourage the creation of "child DAOs".

I am disappointed by those who are characterizing the use of this intentional feature as "theft". I am making use of this explicitly coded feature as per the smart contract terms and my law firm has advised me that my action is fully compliant with United States criminal and tort law. For reference please review the terms of the DAO:

"The terms of The DAO Creation are set forth in the smart contract code existing on the Ethereum blockchain at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413. Nothing in this explanation of terms or in any other document or communication may modify or add any additional obligations or guarantees beyond those set forth in The DAO’s code. Any and all explanatory terms or descriptions are merely offered for educational purposes and do not supercede or modify the express terms of The DAO’s code set forth on the blockchain; to the extent you believe there to be any conflict or discrepancy between the descriptions offered here and the functionality of The DAO’s code at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413, The DAO’s code controls and sets forth all terms of The DAO Creation."

A soft or hard fork would amount to seizure of my legitimate and rightful ether, claimed legally through the terms of a smart contract. Such fork would permanently and irrevocably ruin all confidence in not only Ethereum but also the in the field of smart contracts and blockchain technology. Many large Ethereum holders will dump their ether, and developers, researchers, and companies will leave Ethereum. Make no mistake: any fork, soft or hard, will further damage Ethereum and destroy its reputation and appeal.

I reserve all rights to take any and all legal action against any accomplices of illegitimate theft, freezing, or seizure of my legitimate ether, and am actively working with my law firm. Those accomplices will be receiving Cease and Desist notices in the mail shortly.

I hope this event becomes an valuable learning experience for the Ethereum community and wish you all the best of luck.

Yours truly,
"The Attacker"
===== END SIGNED MESSAGE =====

Message Hash (Keccak): 0xaf9e302a664122389d17ee0fa4394d0c24c33236143c1f26 faed97ebbd017d0e
Signature: 0x5f91152a2382b4acfdbfe8ad3c6c8cde45f73f6147d39b07 2c81637fe81006061603908f692dc15a1b6ead217785cf5e07 fb496708d129645f3370a28922136a32
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Why is China using Bitcoin so much and Russia won't allow it at all?
 
Total and utter carnage in ltc. Glad to have picked up bot trading, did not have time to follow this but my bots saved my ass.
 
fatjohn said:
Total and utter carnage in ltc. Glad to have picked up bot trading, did not have time to follow this but my bots saved my ass.
Click to expand...

THATS NICE

MY BOT ERRORED OUT AND DID NOT EMAIL ME. WHEN I NOTICED THE PRICE HAD CHANGED 200. WHEN IT GOT FIXED, IT HAD CHANGED 200 MORE.

BUT THAT'S OK

I'M IN SAFE FIAT
 
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