Bitcoins

[PYB274]

Anyone have a good site that shows the most up-to-date exchange rate for bitcoin?

[Hack&Lube]

There is no "one" exchange rate for Bitcoin. It's different on every exchange. Just use this site and switch between exchanges at the top.

http://bitcoinity.org/markets/cavirtex/CAD

[Raekwon]

H&L what is your take on DogEcoin? I feel that its a quick fad and I should dump all I have but its an odd duck forsure.

[Hack&Lube]

Originally Posted by Raekwon

H&L what is your take on DogEcoin? I feel that its a quick fad and I should dump all I have but its an odd duck forsure.

If Dogecoin somehow becomes a standard currency of tipping on Reddit, the memesphere, etc. then it might have some staying power.

Since Litecoin prices crashed, a lot of miners are bailing on that and jump to other currencies. I think that accounts for the growth of this one.

Most minor cryptocurrencies are fads and don't last more than a weeks or two in terms of being highly profitable before it gets flooded with miners or abandoned.

[Raekwon]

Its funny because I was going to solo mine these on Sunday because they were new and had very low difficulty, but after having issues with the Wallet I bailed thinking it was a waste of time anyway. Difficulty last night was 1.3M

[Raekwon]

What is the reason for the litecoin crash? Is it just because its value was linked to the bitcoin value?

[Hack&Lube]

Originally Posted by Raekwon

What is the reason for the litecoin crash? Is it just because its value was linked to the bitcoin value?

Everything is linked to Bitcoin value. Aside from the whole overall confidence in cryptocurrencies, all minor cryptocurrencies are inherently difficulty to convert to real world cash.

You basically have to find an exchange that supports trades of your Litecoins or Sexcoins or Dogecoins or BBQcoins, etc. and this is almost 100% always going to be for Bitcoins.

For that reason, if you have your money locked up in Litecoins and you want to cash out, you are screwed when Bitcoin starts to tank because you have to first convert your Litecoins to Bitcoins and then Bitcoins to cash. That adds two layers of panic selling. People trying to panic sell Litecoins for Bitcoins -> which people are already panic selling. This effectively multiplies the monetary loss you go through to convert them to actual money.

[Mazrim]

Originally Posted by Hack&Lube

You basically have to find an exchange that supports trades of your Litecoins or Sexcoins or Dogecoins or BBQcoins, etc. and this is almost 100% always going to be for Bitcoins.

I'm going to assume half of those are fake currency names you made up.

[Raekwon]

Originally Posted by Mazrim

I'm going to assume half of those are fake currency names you made up.

If only they were

[Miniac]

H&L, you expect prices to keep dropping for bitcoin till new year?

[rubecube]

Nope. BTC back up around $650.

[Wormius]

Is China purposely trying to manipulate the price of Bitcoin in their favour?

[Miniac]

I was told by CaVirtEx that they are hoping to add LTC in the first quarter of this year.

[photon]

Good to know!

My start at LTC mining has gone very smoothly, no fuss at all. 12% of my investment recouped at current prices. Haven't setup my own wallet yet though, I guess I should do that in case the pool goes sideways?

[Miniac]

Originally Posted by photon

Good to know!

My start at LTC mining has gone very smoothly, no fuss at all. 12% of my investment recouped at current prices. Haven't setup my own wallet yet though, I guess I should do that in case the pool goes sideways?

Definitely, I'm currently using Litecoin-Qt.

[Rathji]

I have started mining Dogecoins on my unused GPU. It is a new scrypt based coin which is based on the Doge meme. Really, I am just playing with Scrypt coin and given I only have a 7870, I wanted to get in on something that the difficulty wasn't too high on.

Can convert them straight across for LTC/BTC or hold them. They are really quite popular on Reddit and it might help them get a foothold.

I sold for the first few days, just thinking it was an easy way to mine BTC with my GPU, but I am holding them for now as the price seems to be dipping, and have a (very) minor amount of BTC set aside to buy them if the conditions looks right.

Pool I use: https://dogehouse.org
Exchange I use: https://www.cryptsy.com/

Some threads on Reddit:
http://www.reddit.com/r/dogecoin
http://www.reddit.com/r/dogemining

[Regular_John]

Originally Posted by Rathji

I have started mining Dogecoins on my unused GPU. It is a new scrypt based coin which is based on the Doge meme. Really, I am just playing with Scrypt coin and given I only have a 7870, I wanted to get in on something that the difficulty wasn't too high on.

Can convert them straight across for LTC/BTC or hold them. They are really quite popular on Reddit and it might help them get a foothold.

I sold for the first few days, just thinking it was an easy way to mine BTC with my GPU, but I am holding them for now as the price seems to be dipping, and have a (very) minor amount of BTC set aside to buy them if the conditions looks right.

Pool I use: https://dogehouse.org
Exchange I use: https://www.cryptsy.com/

Some threads on Reddit:
http://www.reddit.com/r/dogecoin
http://www.reddit.com/r/dogemining

On the non-mining side of things doge is an easy/fun way to get into crypto's without the intimidation of BTC. I've sunk all of $4 into dogecoin and have few thousand kicking around now.

Basically a fun & cheap way to learn how bitcoin type transactions/wallets work without feeling like this guy:

[Wormius]

Nm. Replied to old post.

[Miniac]

Originally Posted by jaydorn

On the non-mining side of things doge is an easy/fun way to get into crypto's without the intimidation of BTC. I've sunk all of $4 into dogecoin and have few thousand kicking around now.

Basically a fun & cheap way to learn how bitcoin type transactions/wallets work without feeling like this guy:

You should look at CENT. Currently the market looks to be broken on Cryptsy.
Both CENT/LTC (now closed on Crypt) and CENT/XPM trading at rock bottom prices. Ofc the CENT/XPM is a much better deal.

Exchanges:
https://www.cryptsy.com/markets/view/118
https://bter.com/trade/cent_ltc

Read more:
https://bitcointalk.org/index.php?topic=269145.780

[Azure]

Originally Posted by Miniac

I was told by CaVirtEx that they are hoping to add LTC in the first quarter of this year.

Should help drive the price up and keep it stabilized. Looks like it wants to stay above $20 at least.