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Bitcoin/Litecoin etc

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Original thread gone?

Bitcoin back on the up today after a couple of days with very little movement.

Litecoin doing well still but down today a bit. It really needs gox to announce a date for thier trading engine to open, kinda in limbo at the mo it would seem

@leanne I havent looked into desktop/offline wallet software, is that something you are looking into?

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Link to article www.gizmodo.co.uk/2013...

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Saw that yeah, good idea.

He eoukd have only been using a small% of the processing power of each card though surely? The miners use racks of cards (many not paying for power)

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Who pays for the power?

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Ask them you melter!

I for one don't pay for power, however I am not mining.

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maybe lebeau did, and is laughing all the way to the decentralised bank

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haha
www.huffingtonpost.com...

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when bitcoins were first being discussed, here or on the shine board, i jokingly commented that the mods could set an applet that would run on our computers when we accessed the forum. i wasn't serious but i knew it could be done.

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Dear Mt. Gox Customers and Bitcoiners,

The reaction since yesterday’s statement regarding the temporary suspension of U.S. dollar withdrawals has had mixed reactions, and raised more than a few questions about why we had to take this step right now. Rather than be subject to inaccurate speculation we’d like to clarify some points here. Due to pending matters we are unable to get into everything in great detail, though we’d certainly love to and are looking forward to the opportunity.

1) The problem with the U.S. withdrawals (and even other currencies for that matter) is that our bank can no longer handle the volume of withdrawals. They struggled in the last two months, and the increase due to the Dwolla separation has made it increasingly more difficult. The pressure we brought onto the bank’s resources finally gave in, and we are now working with them to find an alternative method (hence the suspension). We would have preferred to give notice if we were able to, but it was sudden for us as well.

2) We are now working with new banks and alternative methods for transmitting money to our customers. This does not mean we are stopping entirely within the next two weeks, but it will be slower than we would like. We are literally going to use our manpower to process withdrawals ourselves, manually. This will take more time, but we are dedicated to doing as many per day as possible. We announced a suspension in order to manage expectations while we deliver at a temporary reduced rate. Our goal is to have a new system set up in the next weeks with clarity for both the banks and for our customers.

3) Our previous release was rather vague, but for a reason. Mainly, we don't want to upset our bank! They do great work, but our kind of business is completely new to the banking industry. Processing international wires does not just involve pushing a button. It requires real manpower processing everything individually, even in this modern computer age. While Bitcoin's power lies in its ability to transfer fast and securely through software, the rest of the financial world does not operate like that (contrary to popular opinion). Money is surprisingly analog in many ways, and scarily digital in others.

4) Every customer’s funds are safe, sound, and accounted for. In fact, in our dealings with the Japanese financial regulators we have been assured that we are not under local pressure or suspicion and can operate as usual within normal legal frameworks.

5) Mt. Gox is certainly not a martyr, but it would be hard to argue that we aren’t "taking one for the team" as far as Bitcoin is concerned. We are a big target, and are absorbing the frustrations of Bitcoiners, regulators, banks, and a media that still doesn't quite understand what Bitcoin is. This is a job we are happy to fill, and not just because we are compensated for it. Our hope is that, once Bitcoin finds its place, we will be able to say that we made a difference in sorting it all out in the early days. New exchanges, business models, merchants, traders, and consumers are rising up to innovate and create a whole new way of doing business. A lot of lawyers are getting new cars in the meantime too.

6) As risky as it is to invoke the name of Litecoin (LTC???), we must apologize for not keeping everyone up to date. The fact is that the current situation means a continued delay, but for good reasons. We’re looking at July right now, though that depends on a few things. Mainly, we want to do things correctly from the beginning.

7) The new trading engine is finished, is smokin’ fast, and is currently undergoing bench tests. We’re looking forward to deploying it very soon.

While not the most in-depth update we'd like to give, we hope that it has at least clarified a few things. In the next few weeks we are planning to do another AMA on Reddit when we’ll hopefully be able to answer many more questions and also shed some light on what’s been going on at Mt. Gox these past months. Thank you for your patience and support.

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needless to say LTC on BTCE going schitz

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Happy days

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Happy days

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Happy days

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Plenty of dough to be made trading back and forth here if you have time to sit in front of the computer/can doss at work. Ragin i have actual things to do.

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Why, what's going down at the mo, ferg?

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announcement about future ltc adoption

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fuck it, throwing some more money in, wish me luck

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cheers

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cheers =]

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I'm sitting tight and hoping this is payday approaching

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i wont be suprised if thet delay adoption again, but it seems like it will def happen now

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we just need a few new more reliable exchanges to adopt and it will start hiking the prices up. I would love a nice big windfall in time for xmas :)

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not just the exchanges, it all relies on wider market adoption, actual prodcuts/services that accept ltc

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rwire.com.au/pr/37363/...

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op.wikileaks.org/donate

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yea that will come as long as people can securely buy the currency in the first place, it has been a pure melt for me to get into it and most people would be put of by that. The more people that want the currency and have it then the more business will start to accept it. The businesses also need to know that they can exchange the coins they accept if needs be.

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there are quite a few exchanges already boasting ltc

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I'm so tempted by this, but simply don't have the time to follow it at the mo.

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you dont need that much time tbf, the important thing would be to get in before what looks likely to be a massive increase in value, in the same way I am throwing more money in. I could end up with egg on my bake but I do believe the hype on this one.

the next few weeks are gonna be manic for with with new work committments, moving to glasgow, events in aberdeen and whatever else gets booked in between. i wont be spending much time trading but will def be keeping an eye on value at regular intervals. There is a litecoin widget for android which tracks the value, installed it last night, handy.

get involved neil son!

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But I've totally lost touch of this from when I was looking into it a while back. Let me get this straight... what's happening now is that Litecoin's are now going to start trading the same as Bitcoins? And if it goes the same way as Bitcoins, Litecoins will more than likely increase in value significantly?

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The largest bitcoin online entity has announced that they will be trading litecoins, most likely sometime in july. If/when this happens ltc will stop being an obscure "alt coin" and its predicted they will increase in value, i hope significantly.

Basicslly the more places supporting the currency, the hugher the demand and level of trades, and yp goes the price.

There will be 4x as many ltc as there are btc, so the predicted high end price for them is $25

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So say I wung in £50... what could I get back, based on what you think?

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if the predictions mentioned above are correct and you bought in now, your £50 would be close to £500, there is no time frame for this though, as it is all speculation.

dont be selling yer new gaff for litecoins pls

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and iff you were to buy in, i would say chuck in more than £50 as the fees at gox were £7-8 last time i deposited.

To answer a future question you might ask

1. Set up Mt.Gox and BTC-E accounts
2. Wire transfer from your bank - mt.gox via swift payment
3. Buy BTC on gox with your GBP
4. Transfer BTC from gox to btc-e
5. Trade yout BTC for LTC at btc-e
6. Try not to lose them all trading back and forth like lots of people seem to have done, just sit back and wait for a crypto miracle

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Are u seriously worried about losing 50- bit of Caicos - go for gold!

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or silver, as ltc is commonly referred to

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another peice of advice, try not to take anything you red in the troll box on BTC-E seriously, its full of traders trying to get noobs to part with their coins for cheap

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Was interested until you wrote all that ferg.

sounds like melt to me, be right up Neil street tho,

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Was interested until you wrote all that ferg.

sounds like melt to me, be right up Neil street tho,

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I might stick £50 on then just to see. How long have I got to get in there, obviously ASAP?

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sure you may as well stick £200 in. Gox have been deliberately vague in not giving an actual date, just mentioning july, so they can't be ridiculed if ity gets delayed, i would say asap yeah, it'll take a couple of days for your funds to clear in gox anyway

your £50 willbe £42/43 by the time the japanese bank take their fee

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Def couldn't afford £200 mate. Shouldn't even really be parting with £50 as I kinda need every penny at the mo.

I'll stick in around £50 after chargers... if that comes in close to x10, I'd be over the moon. Even x5 and I'd be over the moon.

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LTC to the moon

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It's asking for scans of drivers licence and utility bills.. :(

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you only need them to have a fully verified account/high withdrawals etc afaik

you should still be able to deposit/trade without full verification unless they have changed their rules

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Think it's new rules. I didn't have to last time.

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last time? did you delete the account?!

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Yeah

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lol

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This all worked out fantastically the last time. Eager to see the highs Litecoin will sail too.

Remember this is meaningless nothingness speculation. A ponzi involvinf extracting real geld from idiots, who occasionally get divorced and top themselves when losing their shirts.

Have fun though.

"Magic The Gathering - The Exchange"

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