Litecoin - the GPU Mining Alternative to Bitcoin

[nabs]

I am interested in buying lite coins... anyone wanna sell? willing to spend $5/LTC

[Razor Ramon HG]

Ouch.. just missed a chance to make 25% profit..

TRC dropped to 0.00325, and I was waiting for it to hit 0.0032 before purchasing. It quickly rose back to 0.004.. Damn, haha.

[Razor Ramon HG]

TRC back up. Difficulty fixed and new client + patch.

Was 0.0012 four days ago prior to the fuck ups. Was at 0.0033 going steadily up at 0.00417 at the moment.

Could be worth the risk if anyone is on BTC-E/Vircurex.

BTC dropping like mad too. From $250 to $210 as I type this.

EDIT: Intense panic selling over at BTC-E

[SkinnyPupp]

To current owners:



To everyone else: If you were complaining about not being able to get BTC for a decent price, now is your chance

[Razor Ramon HG]

BitStamp is down and MTGOX is like 25 minutes behind.

Man, these DDOS attackers got what they wanted

[SkinnyPupp]

Yup this happens once in a while, one of the fucked up things about BTC. This truly is "the wild west" and it is really risky. Which is why you should NEVER invest more than you would be willing to lose say, traveling or going on a trip to the casino.

Just hold, the price will go back up. The noobs/ignorant folks will sell and lose their money. Also - Keep mining, it's only costing you electricity that way

[Hondaracer]

So skinny my problem isn't so much in buying but instead selling and getting actual money from my mining

With that said, do you think a working solution to this would to get X amount of LTC, sell the LTC for BTC then send the BTC to an exchange such as that Canadian one you posted and withdraw funds that way?

My main feeling is like people who play online poker and deposit money, win a bunch then have no way to withdraw because they didnt realize you have to do XYZ steps to withdraw and before you know it the money is gone/worth less
Posted via RS Mobile

[SkinnyPupp]

The problem is you're thinking of Bitcoin as being nothing more than a commodity to sell for "actual money". Bitcoin IS actual money. It is not a commodity, it is a currency.

People like you are the ones losing a lot of money right now, because they are panicking and selling to recover their "actual money" rather than let the money hold and recover from a down period.

My overall recommendation is to just not participate in it. In that case, there's not much to be gained from posting your negativity in this thread over and over

[Presto]

I want to get another video card that'll be good with mining. A 7950 seems a good price for $300. Is getting the 7970 worth it, for 80 bucks more?

[ryugeeh]

wow BTC low of $123USD

[Razor Ramon HG]

I bought some cheapass PPC at 0.0014 and sold it at 0.0019



Now waiting for TRC to bounce back

[SkinnyPupp]

I'm not touching those sketchy altcoins with all their pump & bumps

[SkinnyPupp]

Originally Posted by Presto

I want to get another video card that'll be good with mining. A 7950 seems a good price for $300. Is getting the 7970 worth it, for 80 bucks more?

Compare the hash rates and power consumption

[Hondaracer]

Originally Posted by SkinnyPupp

The problem is you're thinking of Bitcoin as being nothing more than a commodity to sell for "actual money". Bitcoin IS actual money. It is not a commodity, it is a currency.

People like you are the ones losing a lot of money right now, because they are panicking and selling to recover their "actual money" rather than let the money hold and recover from a down period.

My overall recommendation is to just not participate in it. In that case, there's not much to be gained from posting your negativity in this thread over and over

Lol is it not reasonable to ask how one gets money out of such a volatile currency? Obviously Money to be made is within day trading at this point if you cannot get cash flow from your holdings and just hope things will go up up up the only security you have is selling off portions of BTC and puting them in more stable currencies

I'm getting 2.3 LTC per day right now I have no problem just mining and banking the LTC but I'd like to hear somone who has actually gone through withdrawals and which avenues they have used.
Posted via RS Mobile

[Razor Ramon HG]

Originally Posted by SkinnyPupp

I'm not touching those sketchy altcoins with all their pump & bumps

Been on BTC-E too much. I can now recognize the pump and dumps, but I'm too greedy and usually hold too long during the rise.

Originally Posted by Hondaracer

Lol is it not reasonable to ask how one gets money out of such a volatile currency? Obviously Money to be made is within day trading at this point if you cannot get cash flow from your holdings and just hope things will go up up up the only security you have is selling off portions of BTC and puting them in more stable currencies

I'm getting 2.3 LTC per day right now I have no problem just mining and banking the LTC but I'd like to hear somone who has actually gone through withdrawals and which avenues they have used.
Posted via RS Mobile

1. First open a trading account at BTC-E
2. Send LTCs from your current wallet into BTC-E wallet
3. Convert LTC into BTC
4. Open an account at CaVirtex
5. Send BTCs from BTC-E wallet into CaVirtex wallet
6. Withdraw to your Canadian bank account

On sidenote, BTC-E has both LTC/USD and LTC/BTC. If you guys are into arbitrage trading, it's easy.

[Hondaracer]

I'll thank you when I get home, all the info I needed much appreciated
Posted via RS Mobile

[SkinnyPupp]

That info was posted here a long time ago

[Hondaracer]

Originally Posted by SkinnyPupp

That info was posted here a long time ago

I need somone to Hold my hand!

Now we are done with that business, are you guys who are in holding positions buying at this price?
Posted via RS Mobile

[Razor Ramon HG]

It's just market manipulation.

If I had any significant amount of BTC, I would've sold it high to buy back again later. Some idiots just assumed it would continue crashing, standing idol through the whole thing.

Whenever there's a giant fuck-up, convert to USD.

[Ulic Qel-Droma]

CRASHHHH CRASHHHH!!!!!!!


FEAR!!!! bitcoin is easy to manipulate because of the newbs investing.

fear is like an avalanche. it starts small, and it tumbles and grows exponentially.


bears always make money faster than bulls.

too bad u cant short the shit out of the market. i am so disappointed there are no exchanges that allow shorting. only a matter of time. wait till the bears have the power to trade.

[Razor Ramon HG]

Oh well, gonna see what happens tomorrow.

[Ulic Qel-Droma]

the bid ask spread on mt gox is 46USD LOL. that's fucked.

edit: oh it's 10 bux now.

[Razor Ramon HG]

Fucking idiots... LOL

This shit is kind of funny actually. I don't have a lot invested, but some of these of people lost a ton of money.

EDIT: LOL - Vircurex has a BTC/USD bid of $20

[Ulic Qel-Droma]

like any market man. they shoulda looked at the charts. bitcoin charts were going up exponentially. there's no way that can hold. what goes up will always come down faster.

fear is stronger than greed in the markets.

those guys shoulda dumped their btc as soon as it was going down. no second thoughts, no hesitation. you just do it. buy back anytime lower and reduce your losses.


im thinking of buying a few btc and just purely trading it. bitcoin charts are pretty easy to predict.

[Razor Ramon HG]

Yeah, it went from $140 to $260 in a handful of days. I think it started off at $180 yesterday (can't remember). That type of growth is impossible without coming back down later.

Either way, I bought some cheap LTCs at 2.50. It'll probably rebound in a week or two.