Topic: [BTC-TC] [[LTC-MINING]] - GLBSE LIST RECEIVED - BTC-TC TRANSITION COMPLETE - page 5. (Read 65704 times)

You are a good captain, Burnside. Thanks.

It's a free market after all - where one exchange falls, 3 more will pop up. That's how it was with bitcoin too. Progress.

As many of you probably have noticed, BTC-e was hacked this evening.

https://bitcointalksearch.org/topic/btc-ecom-nice-recovery-from-the-hack-96802

I did not lose any LTC or BTC.  I was online when it started and immediately withdrew everything I had on the exchange.  Things were tense while I waited for the first confirms, but everything came through fine. 

Unfortunately this leaves us with just one remaining exchange to work with.  If anyone wants out I've taken the funds that have not yet been put toward hardware and posted a buy offer for 200 shares at 0.30.  Personally, I'm going to stick it out for now and I recommend everyone sit tight.  I think LTC will survive.

Cheers.

Added a pic of a machine we recently built.

http://ltc.kattare.com/ltcmining.php

Very much spot on. Pure BS on BCX's part.

Keep up the good work! Nice to see progress to incorporate LTC.

Second dividend paid.

Time since last dividend: ~5 days  (per my original contract, not doing dividends at exactly 7 day intervals.)

1100.637108801 LTC in the pool wallet, converted to 7.005709675 BTC, came out to 0.01165675/bond or ~0.00233135/bond/day.

Yup, I agree.

heh, yeah, I've been watching the situation over the last couple days.  I'm not too worried, the main exchange for LTC stopped deposits/withdrawals until things settle down.  If the attack actually succeeds I'll be pretty surprised.  Feels to me more like a big market manipulation.

For more info about 'this lunatic BCX' see 51% Attack Planned on LTC and Second LTC Fork to Begin

You better start mining and help keeping this lunatic BCX at bay

This was definitely a good dividend.  I've been running the full 1500 kH/s plus the bonus 300 kH/s that I made available for the IPO, thus those that bought in (~500 bonds sold) received the benefit of that entire pool of generated funds.  As more people buy in, the dividend will go down, until it finally settles at the actual 1 kH/s per bond + 20% bonus.

The good news is that LTC/BTC has been holding relatively steady price-wise around 0.006.  Difficulty has gone up from 6.2 to 7.2, not a huge increase, but not insignificant either.  I expect difficulty and exchange rates to both continue to climb in the coming weeks, effectively keeping the payout per share stable.  That is just my guess though, I don't have any info other than what is publicly available regarding what is moving the market.  The currency exchange definitely adds some complexity to the picture.  I'm hoping some day I can just pay out LTC and let everyone do their own exchanging.

Interesting. I got twice as much as I used to with gigamining.
Thanks burnside!

What are your predictions on upcoming weeks? How is the post-ipo growth and set up going on?

First dividend paid.

Days since IPO: ~5

1260.7193644701 LTC in the pool wallet, converted to 7.56 BTC, came out to 0.01502982/bond or 0.003005964/bond/day.

Posted on the 'GLBSE request for features' thread.  ;-)

Appreciate it!


I think GLBSE would have to either support LTC directly, or would have to give me some kind of a share management API where I could access a "share id" and "email address" on a per-share basis.  With those two pieces of info I could build a website where you would sign up by email account (matching your GLBSE account) and plug in a payment address.  Then on payout I would iterate through all the shares and make payouts on the ones that had registered.  Ones that had not would receive an email from the system asking them to register and would store their payout in the system until they did so.

I would love to see such an API for the asset managers.  Just with those two bits of info there's a ton of things you could do with the assets.  Starting with building a decent mailing list to keep everyone up to date.

Asset is live!

LTC hit 0.00865000 today on Vircurex.  Not really high volume, but definitely exciting.

I sold over 1,000 LTC today at 0.0069 on Vircurex and BTC-e.  Thus, as of today:

  1 LTC = 0.0069 BTC
  Difficulty hasn't gone up significantly, per your earlier equations, you would get ~0.13 LTC/day/bond.
  That's 0.000897 BTC/day = 479 days ROI.

  If you buy at the 0.4171 pre-ipo discount, 464 days ROI.

  If you count the first and second month bonuses and the pre-ipo discount:
  First month return per share: 0.032292
  Second month return per share: 0.029601
  Subsequent months return per share: 0.02691
  ~= 456 days ROI

The same calcs with a moderate rise in difficulty and exchange rate:

  1 LTC = 0.0079 BTC
  Difficulty goes to 7.0, you get ~0.12 LTC/day/bond.
  That's 0.000948 BTC/day

  If you buy at the 0.4171 pre-ipo discount, 440 days ROI.

  If you count the first and second month bonuses and the pre-ipo discount:
  First month return per share: 0.034128
  Second month return per share: 0.031284
  Subsequent months return per share: 0.02844
  ~= 431 days ROI

You get the idea.  The potential here is pretty good.  

and operating in a currency that is not in upheaval due to upcoming ASIC shakeups and halving payouts... priceless?  (heh, couldn't resist.)




edit/add ... I just double checked the expected payout at a difficulty of 7.0 using allchains.info and it's more like 0.15 LTC/day/bond.  It's 1 am here and I have a meeting in the AM but quickly re-doing those calcs it's actually:

Round 2: The same calcs with a moderate rise in difficulty and exchange rate:

  1 LTC = 0.0079 BTC
  Difficulty goes to 7.0, you get ~0.15 LTC/day/bond.
  That's 0.001185 BTC/day

  Thus if you count the first and second month bonuses and the pre-ipo discount:
  First month return per share: 0.04266
  Second month return per share: 0.039105
  Subsequent months return per share: 0.03555
  ~= 343 days ROI  ... (difficulty 7.0, exchange 0.0079, buying pre-ipo at 0.4171)

Seems pretty solid to me.  I'm out of steam for today, let me know if I missed anything with the math!

Cheers.

BTC-e & Vircurex.  I've used both a bunch.  I just go wherever the exchange is the best.  Both are easy to get LTC and BTC in and out.

Cheers.

Just curious what exchange(s)?  

We're on the IPO page now.

Official GLBSE URL: https://glbse.com/asset/view/LTC-MINING

Two days to liftoff!