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$400 worth of LiteCoins or BTC?

Discussion in 'BlackHat Lounge' started by SittinLow, Apr 10, 2013.

  1. SittinLow

    SittinLow Registered Member

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    So, I have decided to throw $400 at one of these, questions though?

    It would be about 1.7 BTC at the current price, which I don't think would be worth my time, I don't know how high it will go, but don't think it is worth the risk without serious profit being made..

    However, Litecoins @ 4.89 right now could buy ~81 coins. If that rose to $10 (more realistic due to current hype), then that would be $400 profit quickly.

    What do you guys think?

    Also, what are the trusted LTC vendors?
     
  2. Th3T3chGuy

    Th3T3chGuy Senior Member

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    I'm new to this, so I'm probably not the right person to be giving suggestions.

    But, I would invest the $400 in Litecoins. Also, I've read that you could buy and sell them at btc-e.com without any problems.

    Good luck.
     
  3. ReALeST

    ReALeST Power Member

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    definately Litecoins....:)
     
  4. Zapdos

    Zapdos Power Member

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    I'd go with litecoins. Bitcoins cost so much because it's being treated like stocks by many, an investment. They plan to sell later for a profit so the price will go down. It'll go back up most likely but a downward slope should be expected once it steadies. Litecoin on the other hand, people will think of it as another bitcoin. Get in early when it's not expensive. You'll get people speculating in the news which will increase the price. It'll snowball like bitcoin did just due to the speculators jumping the band wagon.

    Also, the other reason is because of these replies. Speculators increase pricing :)
     
  5. SittinLow

    SittinLow Registered Member

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    Thanks, is there a way to get funds up via paypal and then use on btc-e?
     
    Last edited: Apr 10, 2013
  6. captchaman

    captchaman Junior Member

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    Edit: maybe I was wrong
    mp6Qu93.png

    Hey SittinLow, good to see more people interested in LTC. I just started mining today so we'll see how it goes. As far as Paypal -> BTC-E, not gonna happen. Paypal hates any *coin so not many people will sell via Paypal, not to mention taking a chance on disputing. You may be able to find someone in #bitcoin-otc on freenode, but make sure they have a rating first. Your best bet is going to be connecting your bank account to BTC-E (I believe it works via bank transfers, never used it.)

    Good luck!
     
    Last edited: Apr 10, 2013
  7. hydrok

    hydrok Registered Member

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    Are you in a mining pool or just mining yourself?
     
  8. captchaman

    captchaman Junior Member

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  9. SittinLow

    SittinLow Registered Member

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    So I can deposit directly from my bank account to them? How does that work? I'd like to get on this before it goes up!
     
  10. TheMasterOfMoney

    TheMasterOfMoney Jr. VIP Jr. VIP Premium Member

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    Same here. If someone can enlight me on how to add funds from a debit or credit card or PayPal to buy bitcoins or litecoins, it would be very appreciated. I spent all day trying to find ways but I really dont want to make a bank transfer. If maybe it is like PayPal > Another service > Bitcoin its great too, I know its pretty impossible to find direct sellers using PayPal but if I can use another in the middle it is great too.
     
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  11. jheyslow

    jheyslow Senior Member

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    I you are in the US you can easily get bitcoin using bitinstant.com

    I have unlimited supply of vps, but my problem is how to run litecoin miner on windows server 2008. It's really hard to set up the miner.
     
  12. Furious George

    Furious George Supreme Member Premium Member

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    You're not going to be able to convert paypal to bitcoin, easily.
     
  13. TheMasterOfMoney

    TheMasterOfMoney Jr. VIP Jr. VIP Premium Member

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    How about using a credit/debit card then? I know they dont want it because it can be reversible, but what if you first buy something else with a card and then use that to fund your account?
     
  14. hydrok

    hydrok Registered Member

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    Is it even possible to run miner on a vps? I mean wouldn't they shut down the vps as soon as they see what you're doing? =)
     
  15. zenlagor

    zenlagor Regular Member

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    Mining is done via the GPU, you would get horrible results on a regular VPS.
     
  16. LakeForest

    LakeForest Supreme Member

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    buy actual gold instead, are you kidding?
     
  17. hydrok

    hydrok Registered Member

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    Yes i know that mate.. I was just asking him a question.
     
  18. freezeice04

    freezeice04 Power Member

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    Hey guys, probably a stupid question:

    I want to invest in litecoins too, but I'm not sure what mining them means. If I bought some litecoins, do I have to set up a program to mine them too or will they stay with me forever?
     
  19. nirose

    nirose Senior Member

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    They will stay with you.

    Mining bitcoin or litecoins mean that you leave a software on your computer 24/7 to compute hashes so as to get those coins.
     
  20. Zapdos

    Zapdos Power Member

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    Think of it as like gold, silver, coal, diamonds or whatever commodity you want. If you buy it (from an exchange/person) then you own it. You keep it until you throw it away. Mining it means trying to obtain it for (relatively speaking) free. Instead of digging up the earth, computers just use very advanced math to solve problems. Whoever solves them first gets the reward. If you mine a big block (think of it as THE MUTHALOAD) then you get more. Of course like in real life, hitting THE MUTHALOAD by yourself is unlikely so you have to join a group (a pool in BTC/LC terms) and then when someone does the reward is split.
     
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