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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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To be honest I'll prob throw a little bit more each week and build up a little stash

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What made you finally get involved after all the hmming and haaing?

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The ltc forum has a lot of great projects on the go tbf. They are not a business just a load of enthusiasts and some developers

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i'm considering investing a whack in facebook stock. i just can't see it not being worth more a year from now. it's up 172% since a year ago. it's not going to drop out of the sky like BTC can. money sitting in a bank earns fuck all.

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and i have a feeling facebook could soon roll out an offsite ad network service like googles adwords. with their recent revelation that they track you even when you aren't on their site; for advertising purposes, it seems they could well do it. which would absolutely rocket their stock value.

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Fuck just saw this thread and remembered that I have some litecoins lol. How do I go about seeing them and stuff? I can't even remember the site lol. Oul Alzheimers and all that but haven't looked near them in months. Imagine they did take off though and you couldn't remember your log in details or whatever it is you need to prove they are yours.

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East Belfast

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@muff search your email inbox for mails from exchanges. Its probably btc-e

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Did a search in my emails for btc but no joy. Oh fuck lol

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Bitcoin auction a drag on prices

The US Marshals Service (USMS) is auctioning 29,656 bitcoin tomorrow worth just under $17mln. Bitcoin closed at $634 on June 11, the day before the announcement of the auction. It closed the following day at $591 and is currently at $569. The quantity to be auctioned is about 40% of average daily volume, so pumping such a large quantity into the market should weigh on prices. The terms of the auction make it difficult for small bidders ($200k deposit, each of the nine blocks valued around $1.8mln), so the downward pressure is probably exacerbated by the limited number of investors interested in and capable of bidding.

Normally we would expect the price to hit bottom around the time of the auction or soon after. Bitcoin isn’t that liquid so the sale will be hard to swallow. It is unlikely that anyone will bid above the market price – it would make more sense to just to buy in the market in bits and pieces and it’s not as if there is indication that there is bitcoin demand that is unmet because it is hard to buy lumpy amounts. There is simply little demand for lumpy amounts.

In addition, the auction period is 6AM to 6PM so anyone bidding has to take into account that prices may move against him after the bid is submitted. This raises the possibility that bids will come in at 530PM tomorrow, not the most liquid time in any market. It is possible that ordinary buyers will hold off until the auction, so any moderate selling will have an above average impact.

The kicker is that the USMS is selling only about 20% of the bitcoin that it seized so there is likely more to come. This is another factor that will encourage investors to bargain hunt rather than bid aggressively.

You can argue that this auction is largely responsible for the roughly 10% price drop since June 11, with the prospect of more to come. Moreover, bidders may come to anticipate the price pressure from future auctions, holding off on bitcoin purchases, and putting more extended downward pressure.

Ironically, given the structure of the bitcoin market, the auction structure is unnecessary and probably suboptimal because of the concentrated supply-demand imbalance that it creates. The USMS could hire a couple of tech-savvy college kids to dribble its bitcoin holdings into the market, benefiting from the pseudonymity of bitcoin transactions. Selling bitcoin with its somewhat liquid market is not the same as auctioning off a 1998 Chevy with a couple of bullet holes in the driver’s door. The concentrated selling may lower prices more than needed, reducing the revenues collected.

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would it be possible to buy bitcoin, with bitcoin?

head fuck

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yes, if you used a third party merchant

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For the sake of the Solar System, please don't

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i was only joking, but waaaah? :/

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img2.wikia.nocookie.ne...

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also you can buy bitcoins/litecoins directly with bitcoins/litecoins

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but that's not really 'also'. is it?

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it most certainly is, i just didnt explain it and you didnt ask me to

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ok then. what would the point in buying one bitcoin, with bitcoin, be?

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lots of people buy physical bit/litecoins with bit/litecoins, some made of solid sliver or gold, either to keep or give as gifts, theres quite a market for it

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and hold the same value that bitcoin does at the time? seems a bit daft to me.

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Physical Doge i.imgur.com/DBKM9aN.jpg i.imgur.com/eOct3nT.jpg

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well they actually pay more for it cos you have to buy the physical coin and pay for postage, some people are stinking rich off these currencies so it means little to them and they will generally have resale value as they tend to be limited runs

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this is the leading candidtate for the LTC promo video.

The new logos and colour schemes are being decided at the moment as well

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not bad, but could be better

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Alrite Spielberg, over to the forum with ye and get involved

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www.coindesk.com/onlin...

i didn't get any LTC in the end and don't think i'm going to, just doing to sit on these BTC. and i think maybe i got in at a good time, looking to the future.

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aLEDGEND... Litecoin is going the same way as Bitcoin, tbf. Both their histories have shown this. Just look at what s going on with Bitcoin, and it's a fairly safe bet that the same will happen with Litecoin in the fairly close future.

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The network strength is the real indicator of litecoins success, its up over 100‰ since may 1st (in terms of hash rate) hash ;)

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yea but i just don't really see the point in diluting my BTC. and it's BTC in all the headlines and being pushed more into wordwide acceptance with online shops accepting it, ATMs on high streets etc. not LTC.

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ok big potatoes, tell us something we don't know

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i just did

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Is there not a fairly good chance that the next rise in values of coins will show Litecoins being the more profitable?

That last rise had Litecoins increase in value overall by about x5/6, wasn't it? Was Bitcoins increase not a good bit less simple due to it having the higher value and being around longer?

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I need to warn you guys that the moment aledge bought btc, he bacame instantly more knowledgeable about btc than anyone, probably in the world. Get used to it.

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haha no doubt, aleg is n00b, ltc more profitable

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Lads, aLegend was buying bit coins when you were signing up to paypal for the first time.

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www.digitaljournal.com...

Starting today, anyone who pays for their HUSTLER.com subscription with digital currencies bitcoin, litecoin or dogecoin will receive a special lifetime membership for just $500. To take advantage of this exclusive offer, visit www.HUSTLER.com

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This is a family forum, for Goodness sake

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the Mine'llnium Falcon

minellium-falcon.tumbl...

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an idea for a design for a physical Litecoin that i put forward is now in a vote and might get minted, If it wins i will also get minyed in a minor capacity to the tune of 20ltc.

If you can be bothered registering for the ltc forum, pls vote for #3 litecoin association design in this thread
litecointalk.org/index...

registration is pretty simple btw

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America on the front? Ffs ferg

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i had nothing to do with the globe in he design haha, just the network logo that is superimposed on to it

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Looking a little help here guys regarding my litecoins.

Had a problem with my PC so had to get it sent away to get fixed. Got it back and reinstalled the litecoin program there which i'd forgotten about. After a lengthy update (150 odd weeks behind apparently lol) I then tried to go to send my litecoins info to the program but i can't seem to get it to work. Its saying there is no suitable program to transfer the data and then the usual do you want to browse the web for the correct program crap. can anyone advise on what I need to do to get my litecoins back up and running again?

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did you have backup.dat flie of them?

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If I go to file, then sign message, there is a code there which may be my litecoins. Not really sure lol. Fuck these things are a melt.

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Yeah Justin have it backed up in a dat file. Just not sure how to get the file transferred back into my wallet

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it's actually really easy, but in saying that it took me ages to figure it out. i googled it for about 2 or 3 weeks before i got my head round it. lol.

something about going into your %appdata% and going into your litecoin or bitcoin folder, and dropping your backup.dat file in there with the rest of the files that are already there. but you have to rename your backup.dat file "wallet.dat" (this is the bit that took me ages to figure out)

then you open system commands, and type something like refresh.litecoinqt. (again i cant remember exactly what. but im sure if you look on google you will find all there is to know. youtube is good for it too if you dont understand I.T lingo.

also if you trawl through this thread, and find my posts from a while back, it is all in there.

some users on here were very helpful to me too.

good luck, let me know how you get on.

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user 'jbr' off this board knows his shit. ;) he helped me out, and deffo knows how to do this.

how to navigate to &appdata% ...>
start
users
(you)
app data
roaming
bitcoin

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Its a complete fucking melt TBH! I thought i'd done it there by going into litecoin and there was an 'address' code. I assumed that was my 10 coins. I verified it and entered a password and that but they still aren't showing up in my wallet so i doubt that wasn't right at all. I have no idea how i am meant to transfer the data to the folder when its saying i don't have the program to do it.

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