This is not "hot" or "great news", this is a compilation of old information that makes a bunch of bold assumptions
designed to make the masses believe there's something going on and hopefully pump the price when nothing has changed.
Let us look at it in detail:
This is the quote from the statement as of 24th of April: “Mt. Gox has been working overtime since February to build a new trading engine which will be implemented by the end of June. Additionally, since early March we have been building a new IT infrastructure which will be completed by the end of May.
Here's something the document is overlooking: deadlines are missed. This was only true as of April 24th, not necessarily as of now. Mt.Gox allegedly planned to implement LTC by mid April, but then it didn't. To assume that Mt.Gox will absolutely, definitively, and with no space to error, implement the new trading engine by the of June and the new infrastructure by the end of May, considering Mt.Gox is a rather young company with a limited technical competence, and knowing well their track record like we do... well, to say it's naive would be an understatement.
Mt.Gox has already done and tested GUI changes which are required to support Litecoin early April when Mt.Gox initially intended to add Litecoin. They even added it to their API athttp://data.mtgox.com/api/2/LTCUSD/money/ticker
Untrue. It is true they added LTC (and NMC) to their API, but that's all. Unless the author has more information than we do, which I doubt, there were no GUI changes related to Litecoin.
And as for the API, well, Namecoin was implemented in the same fashion Litecoin was there, doesn't necesarily mean they'll implement NMC any time soon. These changes happened several months ago, before the Bitcoin bubble in April, so for all we know it might not even be relevant anymore as they shifted plans. This doesn't matter, because Litecoin has been confirmed multiple times by Mt.Gox, all I'm saying is that folks shouldn't really read much into those APIs anymore.
So the only question is the new infrastructure which is to be implemented by the end of May and the trading engine is to be implemented by the end of June with Litecoin support already
See above concerning assuming deadlines. And here the author of the doc once again knows more than the rest of us going as far as to say that the new trading engine will
have Litecoin support. I would very much like to see the source on that.
When they do this the market will explode. Imagine how many people sold their Bitcoins after thefrustration early April. Many of them are holding USD as they afraid the trading lag and DDoS canresurface again as long as the new infrastructure and trading engine are not implemented.
When they know that all the technical issues are fixed early June they will buy coins back
Oh okay. So folks that got out of the April bubble before or while it was bursting are all waiting to pour their cash into cryptomoney again. That's... not quite how a speculative bubble works.
Sure, some of those might happily hop on to the next bubble train if there's any, but for the most part the April Bitcoin bubble is over, and speculators either made money or didn't; that doesn't necessarily mean everybody who cashed out is waiting now, but rather I would expect most to have moved on.
We tried to contact the previous owner [of LTCPP] but got no reply. So we asked Mark if this is true that the domain is owned by Tibanne and here is the answer. Of course it unrelated to Mt.Gox, it is another business, like BitPay, but registered within the same company: Tibanne.
There's some confusion due to the whois name of the LTCPP owner but I think here the author of the doc is jumping to odd conclusions again. Mark replied with his personal account, not that of Mt.Gox, so by saying it's unrelated to us he does not seem to mean "it's a separate project" but rather "it's not related to us" (duh). Furthermore, while the whois of the domains mtgox.com and ltcpp.net both show "Tibanne" as the registrant and "Shibuya" as the city, there are subtle differences:LTCPP.net (whois):
Organization: Tibanne Privacy
Street: Cerulean Tower 15F - 26-1 Sakuragaoka-cho
City: Shibuya-kuMtGox.com (whois)
Organization: K.K. Tibanne
Street: Round Cross Shibuya 5F
Obviously there's no absolute, definitive way to know, but my theory here is that the new author of LTCPP is unrelated to MtGox and intentionally trying to confuse people by using similar names. As far as we know, and given the facts we have, this seems to fit better than what the author suggests.
In addition we asked LTCPP on Twitted about the estimated production date and this is the answer we've got. So they go to production the same time (end of June) as Mt.Gox implements the new trading engine!
Again, assumptions on the Mt.Gox side. See above concerning assuming deadlines.
So, where does all this leave us? In my opinion exactly where we were before. Litecoin is coming to Mt.Gox, but whether it's coming tomorrow, by the end of June or in September, we don't know. It's certainly looking like something that will take months, though.
Disclaimer: I own Litecoins, I like the premise of scrypt vs SHA256, and I would like to see its ecosystem grow; but not by misleading and misinformed reports.