Topic: Litecoin LTC China connection (Read 1326 times)
Arbitrage is going with $, slow but its there.... japanies ppl are doing the arbitrage for Gox... its just matter of time they will have to kill stipid profiters with this crap......
it makes senses if the Lee family wants to triple there wealth overnight
That make sense, but I still believe they will accept Litecoin in the very near future.
There is no reason for BTCChina to accept litecoin atm.
If anything, there is a clear reason why NOT to accept litecoin - arbitrage.
BTCChina has been having the highest price of all exchanges, due to economical cut-off with Europe/USA. Add litecoin, and you're creating a massive arbitrage possibility, and prices on BTCChina will plummet to match those in Europe/USA, with the added possibility of market share.
For the same reason, Gox doesn't add LTC now, as the only thing it has going for it now is the 30USD premium. Add litecoin, and arbitrage will match the BTC price to BTC-e/Bitstamp, followed by MtGox users withdrawing their funds in BTC asap and withdrawing in USD elsewhere, without loss of premium.
It makes no sense for either of the big exchanges to add LTC now.
If anything, there is a clear reason why NOT to accept litecoin - arbitrage.
BTCChina has been having the highest price of all exchanges, due to economical cut-off with Europe/USA. Add litecoin, and you're creating a massive arbitrage possibility, and prices on BTCChina will plummet to match those in Europe/USA, with the added possibility of market share.
For the same reason, Gox doesn't add LTC now, as the only thing it has going for it now is the 30USD premium. Add litecoin, and arbitrage will match the BTC price to BTC-e/Bitstamp, followed by MtGox users withdrawing their funds in BTC asap and withdrawing in USD elsewhere, without loss of premium.
It makes no sense for either of the big exchanges to add LTC now.
I have always believed LTC will be the silver to Bitcoins gold.
It will trade around 1-2% of bitcoins worth for now but because the total pool of LTC is 64million (correct me if I am wrong), the value should eventually be in the 20-30% range of bitcoins
prices if it starts getting into the mainstream. The LTC China connection makes a strong case for LTC to be the silver coin as opposed to any of the other alt coins imo.
It will trade around 1-2% of bitcoins worth for now but because the total pool of LTC is 64million (correct me if I am wrong), the value should eventually be in the 20-30% range of bitcoins
prices if it starts getting into the mainstream. The LTC China connection makes a strong case for LTC to be the silver coin as opposed to any of the other alt coins imo.
I hope someday BTC China adds Litecoin.
here is a write up of something people may not know about LTC and the China connection
http://cryptokid.blogspot.com/2013/11/litecoin-to-china-btc-family-connection.html
people may want to start digging... i have been... stay tuned for more updates.
BTC China is now the biggest Bitcoin exchange, surpassing the likes of Japan,USA and Europe in volume. The man behind this new powerhouse market is none other than BTC China CEO Bobby Lee. Bobby Lee comes from a background including Walmart China and Yahoo.
“I was introduced to Bitcoin two years ago by my brother, the founder of Litecoin ,” says Lee.
http://cryptokid.blogspot.com/2013/11/litecoin-to-china-btc-family-connection.html
people may want to start digging... i have been... stay tuned for more updates.
BTC China is now the biggest Bitcoin exchange, surpassing the likes of Japan,USA and Europe in volume. The man behind this new powerhouse market is none other than BTC China CEO Bobby Lee. Bobby Lee comes from a background including Walmart China and Yahoo.
“I was introduced to Bitcoin two years ago by my brother, the founder of Litecoin ,” says Lee.
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