Re: What Litecoin means for Bitcoin (and crypto in general) once it's on Mt.Gox
The addition of Litecoin or any other number of altcoins to the exchanges won't make any difference to combating arbitrage. That's because the arbitrage arises from friction caused by moving fiat around and not bitcoins.
For instance you can buy a bitcoin on Bitstamp for $101 and sell it on Gox $110 at the moment. A perfect arbitrage opportunity you might think but withdrawing USD from Gox is difficult and that's the reason behind the price gap. Adding altcoins into the mix won't change that.
For instance you can buy a bitcoin on Bitstamp for $101 and sell it on Gox $110 at the moment. A perfect arbitrage opportunity you might think but withdrawing USD from Gox is difficult and that's the reason behind the price gap. Adding altcoins into the mix won't change that.
+1
OP is just trying to raise litecoin visibility in the main forum. Move this thread to the garbage section where it belongs.
-1.
The post you responded to completely missed the point regarding arbitrage, which is that now instead of waiting a really long time to transfer USD from Gox to Bitstamp, one can simply transfer LTC to bitstamp. So we can affect not only the LTC/BTC but the USD/BTC since other exchanges have LTC/USD and LTC/BTC. Both you and meanig need to go learn what "arbitrage" means
But, I lol'd that you overlooked that and +1'd it anyways
What people against Litecoin (or Mt.Gox adding it) I think don't realize is it's probably inevitable already Litecoin will see widespread adoption.
No, it won't happen. You might realise the reasons why but only if you sell your LTC and give yourself some time to evaluate situation in cryptocoin
and real worlds. For as long as you are holding LTC you will stay LTC biased. It is eventual profit of some sort that is blinding you from realising the
truth there. You might go as far as writting a tome of books about why LTC will be successful but it will contain nothing but crap with very little or
no connections with reality.
One can never realise the truth if he or she is holding onto something because that which he or she is holding onto distorts perception of reality.
HAHA, WHAT? Did you seriously just make the most n00b mistake of all?
1) Go sell ALL your bitcoins. Every last one.
2) THEN come back here and preach to us about how you can't talk about [LTC doom and BTC destiny] while simultaneously holding the coin.
Let me look through your post history... yes, you've talked quite a bit about bitcoins... shall I now go troll every single one of your posts, replying with "sorry, your opinion about bitcoins is automatically invalid since you hold bitcoins!"
Logic fallacy is fallacious. Fail troll is fail. Nice try dude