LiteCoin

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Bucketeer
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LiteCoin

Postby Bucketeer » Fri Apr 07, 2017

Welcome to the Big Leagues LiteCoin!

LiteCoin is no longer an alt-coin, and therefore deserves a topic for itself.

On April 5th, Brian Armstrong, CEO of CoinBase announced that CoinBase will begin buying and selling LiteCoin for fiat currency. This move was not unexpected, since LiteCoin has been trading on GDAX for several weeks.

https://bitconnect.co/bitcoin-news/514/coinbase-ceo-confirms-litecoin-support-as-trading-volumes-surge
Last edited by Bucketeer on Sat Apr 08, 2017, edited 3 times in total.
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Bucketeer
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Trezor supports LiteCoin

Postby Bucketeer » Fri Apr 07, 2017

Trezor, a trusted hardware cold wallet, announces LiteCoin support.

To use Litecoin in #TREZOR Wallet, go to App Settings and set Bitcore Server URL to https://insight.litecore.io/
Last edited by Bucketeer on Fri Apr 07, 2017, edited 1 time in total.
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SilverDoge
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Re: LiteCoin

Postby SilverDoge » Fri Apr 07, 2017

If bitcoin is the gold.... litecoin is the silver. Still under $10 too.
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Bucketeer
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Litecoin Foundation

Postby Bucketeer » Fri Apr 07, 2017

Singapore Registers the Litecoin Foundation as Public Company Limited (SG - Non-profit public company)

https://www.cryptocoinsnews.com/103465-2/
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Bucketeer
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Re: LiteCoin

Postby Bucketeer » Fri Apr 07, 2017

SilverDoge wrote:If bitcoin is the gold.... litecoin is the silver. Still under $10 too.


That's what I'e always heard.

I've been thinking about buying LiteCoin since the rumors about SegWit adoption a few days ago, but I hated to watch the price double. I'm in LiteCoin now, but I also have a tight stop order in place.

Adoption is now 70%, I believe it activates at 75%.
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Re: LiteCoin

Postby Altima » Fri Apr 07, 2017

Missed the boat on Litecoin so I'll be giving it a pass. Interesting that dash market cap isn't that far behind from Litecoin.
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Re: LiteCoin

Postby Bucketeer » Fri Apr 07, 2017

Altima wrote:Missed the boat on Litecoin so I'll be giving it a pass.


Saying that you missed the boat on LiteCoin at $10 could very well be like saying you missed the boat on Bitcoin at $200. In my own case I bought Ethereum at 31.5 cents per token, and at $15.54 per token. Both were decent entry points.

If I get stopped out of LiteCoin, I can always re-enter at a later time. Stops are an important tool if your entry point was wrong.

Some businesses (probably most) believe that a cryptocurrency isn't credible unless it is listed on Coin Base. Therefore, CoinBase adding LiteCoin is a huge vote of confidence.

Bitcoin has problems. It is questionable if it can be both a store of value, and a payment-processing currency. My preference is to see it as a store of value.

LiteCoin has much greater liquidity than Bitcoin, plus it has SegWit and LN pending. Therefore, LiteCoin should function very well as a currency. No latency issues like Bitcoin.

The payment processors in Japan (and elsewhere) will, at some point, be dealing with Coin Base. Coin Base will be able to offer Lite Coin as an alternative. I believe that CoinBase's adoption puts LiteCoin in a very unique position to become successful.
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Long John
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Re: LiteCoin

Postby Long John » Fri Apr 07, 2017

I do not see LiteCoin as an option to buy in Coinbase. Still BTC and ETH.

Never mind. I see that they WILL add it.

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Re: LiteCoin

Postby Altima » Fri Apr 07, 2017

Hmm, you raise some very good points. I also note that the previous high on the charts was over 40 dollars many years ago.
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Re: LiteCoin

Postby Bucketeer » Fri Apr 07, 2017

Long John wrote:I do not see LiteCoin as an option to buy in Coinbase. Still BTC and ETH.

Never mind. I see that they WILL add it.


You can't buy it yet on CoinBase, but you can buy it on GDAX. Just transfer your funds from CoinBase. The fees on GDAX are really low if you are a maker/taker. Buy the market and you will be charged a fee.

Correction: LiteCoin DOES NOT yet have SegWit. The pool is about 69-70%. The pool must be at 75% for 14 days, and then SegWit will activate.
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Re: LiteCoin

Postby Altima » Fri Apr 07, 2017

Bucketeer wrote:
Long John wrote:I do not see LiteCoin as an option to buy in Coinbase. Still BTC and ETH.

Never mind. I see that they WILL add it.


You can't buy it yet on CoinBase, but you can buy it on GDAX. Just transfer your funds from CoinBase. The fees on GDAX are really low if you are a maker/taker. Buy the market and you will be charged a fee.

Correction: LiteCoin DOES NOT yet have SegWit. The pool is about 69-70%. The pool must be at 75% for 14 days, and then SegWit will activate.


Hmm, what's holding back the miners? And what are the chances that Segwit doesn't get implemented on Litecoin?
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Re: LiteCoin

Postby Bucketeer » Fri Apr 07, 2017

Altima wrote:Hmm, what's holding back the miners? And what are the chances that Segwit doesn't get implemented on Litecoin?


My opinion is meaningless about the chances of implementation.

This is one miner's thoughts about activation. When he talks about his "customers", I believe he is referring to the miners that are connected to his mining pool. He is opposed to SegWit, but will activate per customer wishes.

https://forums.prohashing.com/viewtopic.php?t=1377
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Re: LiteCoin

Postby Altima » Fri Apr 07, 2017

Bucketeer wrote:
Altima wrote:Hmm, what's holding back the miners? And what are the chances that Segwit doesn't get implemented on Litecoin?


My opinion is meaningless about the chances of implementation.

This is one miner's thoughts about activation. When he talks about his "customers", I believe he is referring to the miners that are connected to his mining pool. He is opposed to SegWit, but will activate per customer wishes.

https://forums.prohashing.com/viewtopic.php?t=1377


Thanks for the article. These two paragraphs stood out for me:

"Additionally, it's also possible that someone could decide to activate SegWit by buying a lot of litecoins. Since we always mine the most profitable coin, we could find our share of the LTC network at over 5% if LTC wildly soared in value above all other coins. The amount of hashrate currently directed at litecoin is 1/6 or less of our total business. If SegWit gets "stuck" at 70%, it's possible that someone could set buy walls in LTC markets that make LTC so profitable to mine that we rise to 5% of the LTC hashrate and lock SegWit in. Thus, we can't just assume "well, it's only at 72%, we have time until someone else converts."

"One of my hopes is that if SegWit activates on scrypt coins, it will encourage the Core developers to "give up" trying on Bitcoin, given that the 95% threshold there is too high to achieve, and to allow Bitcoin Unlimited to activate first with SegWit coming later, with that effort led by someone other than Gregory Maxwell and the Core leaders. This really is the best solution to the stalemate that satisfies all parties. That way, everyone would have the opportunity to cease the endless talk and see through direct competition which solution actually is better. SegWit is not a solution to blocksize constraints, so it is a good choice for Litecoin but it alone is not acceptable for Bitcoin."
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Re: LiteCoin

Postby Altima » Fri Apr 07, 2017

"Two things define you. Your patience when you have nothing, and your attitude when you have everything."

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Re: LiteCoin

Postby Bucketeer » Sat Apr 08, 2017

I didn't get stopped out overnight, and I'm up 50 cents per coin. My stop is 4%, which is really tight, and I've leaving it in place until (hopefully) LTC moves up a couple of bucks.
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Bucketeer
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Re: LiteCoin

Postby Bucketeer » Sun Apr 09, 2017

I was up 15% yesterday, and got stopped-out today at a small loss.

I'll be back.
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Bucketeer
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Re: LiteCoin

Postby Bucketeer » Sun Apr 09, 2017

That said, I deserved the loss and re-enforces rule #1:

1) Never sell Bitcoin.
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Re: LiteCoin

Postby Altima » Sun Apr 09, 2017

Bucketeer wrote:That said, I deserved the loss and re-enforces rule #1:

1) Never sell Bitcoin.


Not true. You can sell bitcoin when you want to take profit.

With that being said, not really sure why LTC is being hammered right now. Was about to buy some when i went up above $10 but needed to save the XBT for the crowdsale tomorrow. Really can't tell which direction these coins will move.
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Re: LiteCoin

Postby SilverDoge » Sun Apr 09, 2017

Altima wrote:
Bucketeer wrote:That said, I deserved the loss and re-enforces rule #1:

1) Never sell Bitcoin.


Not true. You can sell bitcoin when you want to take profit.

With that being said, not really sure why LTC is being hammered right now. Was about to buy some when i went up above $10 but needed to save the XBT for the crowdsale tomorrow. Really can't tell which direction these coins will move.


LTC took quite a hit. I heard the SegWit adoption isn't going to happen but that is not confirmed by any means.

Altima - what crowdsale?
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Re: LiteCoin

Postby Bucketeer » Sun Apr 09, 2017

Like I said earlier, I had a tight stop. I lost $70 on LiteCoin. The hashing fight will be resolved, I'm looking for a re-entry point, but I don't think it is going down to $4 again.

Hilmi - what crowd-sale are you talking about?
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