Search content
Sort by
Showing 20 of 39 results by Litecoin Gold Trust
Thanks for a smooth transaction LGT, all the coins arrived in a prompt fashion as described.
Escrow was used and everything about the transaction from beginning to end went very well
CR
Escrow was used and everything about the transaction from beginning to end went very well
CR
Payment was received promptly from coinrolls2 via Tangible Cryptography acting as escrow.
does it say that its silver anywhere on the rounds?
Yes. It says "1/10 troy ounce" and ".999 fine silver". You can barely make those out in the closeup/blurry picture. You can also get more information/background by doing a google search for "medjugorje silver rounds"
Weekly Report
Saturday, December 1, 2012
Overview
Assets: 1 oz.
Shares Outstanding: 1000
NAV: 20.6215 LTC
Basket Size: 1000 shares
Commentary
This week was all about volatility, both in the price of gold and the price of LTC.
The big news was the halving of the Bitcoin block reward. While the halving had little effect on the price of BTC, it seemed to have a major effect on the price of LTC. The cause of this effect is unclear, but the correlation is unmistakable. The price of LTC and the total hash rate both began climbing steeply when the reward was halved. The price of LTC rose from $0.0608 last week to $0.0837 (+37.7%), occurring mostly in the two days following the halving.
The price of gold (in dollars) is about the same now as it was at this time last week, going from $1734 to $1726 (-0.46%). This small decline does not reveal the dramatic rise in price of gold last weekend to over $1750, followed by the long decline during the rest of the week to the current price of $1726.
The combination of a huge rise in the value of LTC with a mostly constant price of gold has resulted in a big decline in the NAV from 28.5 LTC to 20.6 LTC (-27.7%).
As metal prices go up fakes get more and more advanced. If the coin was filled it would have the exact same luster and not be worth nearly as much. Even 1oz silver rounds are starting to be faked now.
I agree about outer apearances. But no fake gold coin will pass a set of calipers and scales. In theory tungsten could be used as a filler but so far there have been zero credible reports of anything as small as a 1oz coin being filled with tungsten mostly due to how hard it is to work the stuff.
With large bars, like 100oz and up tungsten is a concern. People are using ultrasound to see if the bars are consistent throughout.
Silver 1oz have been faked and faked very well for a long time. Unlike gold they can get the density just right by the right mix of base metals.
The Fisch kits are pretty good for detecting fake coins.
I use a laptop as a main computer And the desktop we have has a cheap $60 graphics card. It won't mine anything. I am just wondering what I am missing here. With the calculations I am doing with 72GH/s that would be 83k worth if bitcoins a year. I know it must be wrong. I just don't know if I should even start trying to mine if I won't make anything. Also if the block thing is going down to 25 instead of 50 wouldn't that make bitcoins worth more?
I'm assuming that when you say 72 GH/s for $1200, you are talking about buying the new ASIC hardware. Right?
Here is the problem. They don't exist yet, and when they are finally shipped, everyone will get one and the difficulty will go up by a factor of 20 (more or less). Your estimate of 83k worth of bitcoins will drop by a factor of 20 to 4.2k. And don't forget that the block reward is being cut in half, so your 4.2k per year is really 2.1k per year. So it looks like you might be able to make a profit, but it won't be anything like 83k a year.
Anyway, even if you order one now, you won't get it until next year. You might as well just mine with what you have now and order one next year.
Finally, the halving of the reward will have no significant direct effect on the value of BTC. There is a lot of guessing about what will happen when the reward halves, but nobody really knows, and nothing happening is just as likely an outcome as anything else.
Also, why is it so important to make money mining bitcoins? Why not just do it for fun or as a learning experience? Why do you want to make it your job?
Mining is a complex and expensive business to get into. Newbies should try mining, but they shouldn't try to make money doing it.
Consider how you might get some gold:
1. Buy it. Not much fun, but fast and convenient (compared to the alternatives).
2. Pan for it. Fun to try as a learning experience, and you end up with a little bit of gold. Not really worth the time and expense, though.
3. Mine it. Expensive, but it's the best path to success (if you know what you are doing).
Obtaining bitcoins is the same:
1. Buy it.
2. Mine it with your computer.
3. Buy some hardware and mine it.
Consider how you might get some gold:
1. Buy it. Not much fun, but fast and convenient (compared to the alternatives).
2. Pan for it. Fun to try as a learning experience, and you end up with a little bit of gold. Not really worth the time and expense, though.
3. Mine it. Expensive, but it's the best path to success (if you know what you are doing).
Obtaining bitcoins is the same:
1. Buy it.
2. Mine it with your computer.
3. Buy some hardware and mine it.
I think that you should try mining with what you have before sinking a lot of money into it. If you have a PC with a decent ATI graphics card or you can borrow one, start mining on that. Don't worry about making money right away. It will be fun and interesting, and you will end up with a small amount of BTC.
To the person from the Ukraine that was interested in buying a few (I can't find your message/post):
I don't think I can send silver to the Ukraine.
I don't think I can send silver to the Ukraine.
Quote
PROHIBITIONS:
Coins; banknotes; currency; securities of any kind payable to bearer; traveler's checks; platinum, gold, and silver (manufactured or not); precious stones; jewelry; and other valuable articles are prohibited.
Coins; banknotes; currency; securities of any kind payable to bearer; traveler's checks; platinum, gold, and silver (manufactured or not); precious stones; jewelry; and other valuable articles are prohibited.
will you throw in free shipping if i buy all 40 coins?
There are others interested so I can't sell all 40. I will sell 10 for 3.4 BTC plus 0.1 BTC for shipping (1st class letter) assuming you are in the U.S.
Design a commemorative Bitcoin note for Halving Day
I would love to see one of the various people that are designing Bitcoin notes design one that is special for Halving Day tomorrow.
Casascius?
Ninja?
Salfter?
How about it?
Casascius?
Ninja?
Salfter?
How about it?
Where to buy in person or where are you shipping from?
I am in Belmont, California, south of San Francisco.
Thank you everyone for your comments and offers. I bought these recently with the intention of reselling because I thought there would be a lot of interest from people wanting to by small amounts of silver with LTC (or BTC). I paid more than spot (but less than retail), so I guess I will have to sit on them for a while.
you can sit on them or sit on btc or ltc which could increase more in value than silver
That's always an important consideration the most people neglect. In this case, I don't have enough evidence to justify action, so I choose inaction.
Thank you everyone for your comments and offers. I bought these recently with the intention of reselling because I thought there would be a lot of interest from people wanting to by small amounts of silver with LTC (or BTC). I paid more than spot (but less than retail), so I guess I will have to sit on them for a while.
I'm surprised that nobody is interested in these. I thought that people would jump at the chance to buy silver in bite-size portions. Maybe they are too expensive? I'm willing to lower the price if someone want to buy a bunch.