Huobi, one of China’s largest Bitcoin exchanges revealed Thursday morning that it had lost 920 BTC and 8,100 LTC on Wednesday. The value of the lost funds stood at $411,000 as on Thursday morning. In a statement posted on its Weibo account, the company revealed that one of its customer service representatives had sent the money …
"Recently, I heard a disturbing rumor about me that I was made aware of by the Dogecoin devs. They were told by a reliable source that the only reason why I pushed so hard for merged mining is because I was bribed by Chinese Scrypt ASIC manufacturers. Supposedly, these companies think that their profits will decrease significantly if Dogecoin switches to another PoW, so they bribed or extorted me to convince Dogecoin to merge mine with Litecoin. I want to categorically deny these rumors."
Hey, thanks for the Litecoin tip 1418!
Source: ltc4you.com
tuckfheman reblogged
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The Litecoin bubble may soon pop.
"Mom, why is Billy hyperventilating?"
You know, I love the smell of manipulation in the morning. It smells like, victory. I added the quote above from trollbox because it's dead on accurate.
What changed about Litecoin from last week to this week? Nothing.
Max Keiser said it would hit $50 and it pretty much did, out of nowhere. We've seen several huge coordinate sell-offs during this rise to $50 and now the largest one yet today.
A small group of individuals are becoming very rich off the easily manipulated and a few who are able to get in and out at the right times are doing ok for themselves.
But it is my belief that the vast majority of people putting money into LTC are going to lose in the near future. When it's all over, the victors will publish their infographic showing how they made 85% profit with their pump and dump and tell you how many others also did well for themselves by being lucky enough to know when to get in/out while the rest are left to wonder wtf just happened to their money in a matter of minutes, hours, days or weeks.
Right now everyone's loving how all the coins are taking off, but I'm sitting here wondering about the future ramifications of drawing in new money just to manipulate it out of their pockets so a few can get rich. It's not true growth, it's a "hologram" as ChrisJ w/feathercoin so aptly put it.
FWIW on Nov 1, 2013 ...
BTC = $200 while LTC = $3
Today ...
BTC = $1150 while LTC = $45.25
"Correlation" my ass.
I'm retitling the documentary "The Wall Street Code" for those cryptocurrency traders wondering what the f*ck happened on November 26th, 2013, and what the future holds for the cryptocurrency trading environment.
"It Came From Trollbox" (S1E1) ...
c0nnect4: Duetschpire, heheh I'm looking forward to this. Good luck, I see you've got over a hundred listings already that's great. Make sure you post in the appropriate forums etc (have you posted in the LTC forum yet?) Duetschpire: c0nnect4, I did... that forum is dead like a car hit by a car LOL... need some help with getting news posts up. Wanna do the job? :-)
Litecoin is making it's move this week.
Is this the pre-IPO push or another pump & dump?
We shall see.
Update : Litecoin was added to 3 of the 6 Chinese exchanges this week.
Digital currency exchange Kraken has forged a partnership with Munich-based Fidor Bank to offer its European customers regulated bitcoin trading services.