Coinbase Now Trading Litecoin

[Spiffster]

Price will likely spike further. May want to throw some change at LTC (Litecoin) sooner than later. And by "change" i mean pocket change, play money, etc. Very volatile, but an opportunity I wanted to share anyway.

Reasoning is that coinbase.com is currently one of (if not the) largest cryptocurrency exchanges out there. The fact that they now trade LTC is a big deal and will only happen once (obviously).

Again, if you are in the market for such an investment, you should already be aware of the volatility. Could go down just as fast as it has gone up. YMMV

[Spiffster]

$20 to $30 in a matter of about an hour.

Update: And back down to 26. Gotta be careful.

[Spiffster]

LTC back up to $27-ish now. Volatility has smoothed out somewhat, but still a hot potato. Solid buy yesterday at $19.50.

BTC has jumped substantially to $1620, which is absolutely insane.

ETH has also had a huge jump to $93.

Bitcoin Investment Trust (GBTC) is trading at $187.50, a huge premium over BTC. Probably best to just buy BTC IMO.

[Spiffster]

BTC up to 1780... absolute madness IMO. But im not going to complain at this point.
ETH relatively stagnant at 90
LTC up to 36. About 100% gain from a week ago.

GBTC at 240!!! I sold remaining shares at 190 :-/

UPDATE: For anyone who cares... probably just me ;-) but segwit (Segregated Witness) activation on litecoin occurs in 2 hours 30 minutes. Volatility will be relatively high.

[dk16]

I'm sure you're still tracking BTC. :-). It's still going crazy. I wish I was in the game.

[Spiffster]

I'm sure you're still tracking BTC. :-). It's still going crazy. I wish I was in the game.

You bet. BTC approaching 2k. Etherium over $120! LTC kinda fell flat around $26... But there is really not a whole lot of things that are special about LTC... its more or less a testing ground for BTC, like Segwit, Lightning network, etc.

[JBinKC]

I have made a bundle on ETH this year which I sold my cost at 98 a couple weeks ago but it has recently flirted with 200.

Bought ETH when India had its large note confiscation which I thought was a general catalyst for cryptocurrencies in general and its one market not price controlled by central banks and their affiliates.

[Spiffster]

Take a look at GBTC today... its gone cuckoo-bannanas, up over 40% today alone at $415. Each share represents about .09 BTC

.09 * 2450 = $220.5

So people are apparently fine paying $415 for $220.5 worth of BTC? (88% premium)

Yeah, I dont get it...

[Spiffster]

Litecoin crossed $50

Ethereum touched $400 a few days ago (~370 now)

Tons of money to be made in crypto-currency... but VERY volatile.

I took out initial investment so I am on house money now.

[Spiffster]

Down quite a bit across the board:

BTC: $2332
ETH: $236
LTC: $37

Good buy in? Probably not yet as prices are still falling. Risky stuff.

[Spiffster]

If you are interested in investing... now may be a good time to start dollar-cost averaging into crypto IMO. BTC will likely pop to new highs IF segwit implementation goes smoothly (8/1)... which I think it will.

Currently BTC ~2000/ea

ETH should enjoy a good bump as well... ETH: ~165/ea

[Singuy]

I don't understand how anyone can use these digital currency as currencies. What kind of currency drops or increase in value by more than 20% on a daily basis? How are you suppose to make transaction with these things? Today I can buy a movie with a coin, tomorrow I can actually buy 2 movies with the same coins?

Real currency doesn't fluctuate that much unless if there's a war or a plague going on....

I think those who think these are legit currencies are just fooling themselves. Treat these digital whatever as a way to play the casino.

[Spiffster]

I don't understand how anyone can use these digital currency as currencies. What kind of currency drops or increase in value by more than 20% on a daily basis? How are you suppose to make transaction with these things? Today I can buy a movie with a coin, tomorrow I can actually buy 2 movies with the same coins?

Real currency doesn't fluctuate that much unless if there's a war or a plague going on....

I think those who think these are legit currencies are just fooling themselves. Treat these digital whatever as a way to play the casino.

Yeah, those are pretty common complaints about cryptocurrencies and for the most part, fairly accurate. Though BTC and ETH actually have real world, and legit applications... the relative instability is a concern. Crypto is mostly fueled by speculation. Not sure how that is a whole lot different than the stock market though.

If you think Bitcoin is going away, then you are probably also fooling yourself.

[Singuy]

Yeah, those are pretty common complaints about cryptocurrencies and for the most part, fairly accurate. Though BTC and ETH actually have real world, and legit applications... the relative instability is a concern. Crypto is mostly fueled by speculation. Not sure how that is a whole lot different than the stock market though.

If you think Bitcoin is going away, then you are probably also fooling yourself.

Not saying bc are going away. I just feel like it's like playing musical chairs and someone is going to be royally F-ed.

Can't say that about a company you believe and invest in...a company that will eventually make billions in profits and paying a dividend is not a musical chair investment.

[disneysteve]

Crypto is mostly fueled by speculation. Not sure how that is a whole lot different than the stock market though.

Cryptocurrency isn't like stock at all. For the most part, stock prices are based on earnings and assets of a company. Each share represents a partial ownership of those assets and earnings.

What does cryptocurrency represent? What determines its value?