The ltc-global stock price is looking healthy,have to be happy about that
I'm definitely stoked about how well it's been doing. I sold the initial shares for 25 LTC, now they seem to go for more like 60 LTC, so that's good. The people that took a risk early on are getting a good reward, that makes me happy.
People that buy in now at 60 LTC, etc, will in turn hopefully see a similar reward as the exchange grows. I've had lots of PM's asking if I have plans to take the site into BTC, so I'm very optimistic about the future of the site.
Just to give everyone an idea of where my current plans are, I do not have any short-term plans to go into BTC. I have a couple of non-trivial security features that need to be integrated first, like Google Authenticator. I want to make sure the site is tested, proven, and solid before even considering risking anyone's BTC.
It also seems to be good for LTC for the moment, having an exchange like this will bring value to LTC and hopefully in time we'll see a lot of cool LTC projects being funded through the exchange. For LTC to succeed there needs to be a robust economy and I'm looking forward to providing a key tool at the core of that economy.
I do, briefly want to touch on one key difference between LTC-GLOBAL and GLBSE, which is that I am doing -zero- verification of the assets that are being posted there. The only barriers to entry currently are:
- 250 LTC,
- that the contract be legible english,
- that the asset be legal in Benton County, Oregon, USA
- and that you agree to the LTC-Global Asset Issuer Terms. (which mostly tells the issuers that if they lie, or do not fulfill the contract, etc, then the asset will be frozen.)
I know a possible verification system is on the TODO list, but I have to be honest, I do not believe that I could adequately verify applications in a way that would not be easy to forge. Thus I am not currently certain that I will ever do a verification system. It seems like a can of worms that could open up LTC-GLOBAL to possible litigation. Maybe that will change down the road when LTC-GLOBAL is a full time job for someone and they can travel to visit each applicant to see their operation in person.
The TL;DR version:
PLEASE, PLEASE, PLEASE, do not invest more than you can afford to lose. LOOK CLOSELY at the assets before you hit the 'BUY' button. Do some research, send the asset issuer an email, ask questions, BE CAREFUL, etc.
Cheers.