Author Topic: [LTC IPO]: Litecoin's Pre-Gox Project  (Read 25371 times)

Offline fontas

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[LTC IPO]: Litecoin's Pre-Gox Project
« on: June 26, 2013, 09:28:10 PM »


[LTC IPO]: Litecoin's Pre-Gox Project
Contents
I. Introduction
II. Implications of Gox Support
III. Effects of Pumps
IV. The Plan: LTC IPO
   a) Investor Interest
   b) The Pump
   c) Blockchain Manipulation
V. Information and Contact


Next I will add detailed plans for what to do with LTC, USD, BTC holdings, exact details and timing for miners, and focuses of the publicity campaign.

I. Introduction


I am Fontas. You may know me from the BTC-e chatbox, where I organized many pumps of alt coins through twitter (@fontase) during the months of April and May. I brought TRC 1400% up, DVC 600% up, NMC 730% up, NVC permanently 50% up, and contributed to the LTC rise of April 1. Playing with small market cap alt coins was fun and profitable, but there is a much more ambitious opportunity awaiting on the horizon: LTC.

I am not looking for a quick pump n dump of LTC. Instead, this will be a coordinated effort to put LTC in the spotlight for good, legitimize the coin, and generate interest in its potential as a serious competitor to BTC and one of the leading tools in digital commerce.

We all know what will happen when Gox supports LTC: Price will rise immensely and more investors and developers become interested. This project serves to amplify the effect.

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II. Implications of Gox Support


Gox has announced an estimated July date for LTC support.

LTC will be open to the gigantic Gox orderbooks, the wire transfer market, the investors with millions of dollars and thousands of BTC. Those famous $1M buy walls on MtGox would have easy access to the LTC market.

On the day of the IPO, LTC will rise simply from the buy support of users that come from BTC-e. But realize that the BTC-e market is tiny compared to Gox, which has approximately 10x the BTC trading volume. The current LTC $300 000 buy orderbook on BTC-e can be matched 1:1 by a single whale on Gox. There is potential for a massive LTC price spike on the day of the IPO above $5, potentially above $10, and even $25 is feasible.

That would not mean much if Gox quietly adds LTC with a "News update: LTC added.pdf" in their news section. The Gox crowd and the rest of the world would stand around with their hands in their pockets and their eyes fixed on the old BTC as if nothing big had happened. The goal is to get investors interested in the coin, and potentially see it as an investment as valid as Bitcoin.

The goal is to have an incredible rise that noone could have imagined, in the style of April 1, 2013. In the short run there will be a media frenzy. Perhaps some will gain, others will lose. In the long run, the interest in LTC and subsequent startups and projects will further develop internet commerce with LTC in the foreground.

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III. Effects of Pumps


Remember the day of the TRC and PPC IPO on BTC-e? April 4th 2013. There was a TRC pump through twitter (@fontase) to coincide with the BTC-e support of the coin. The effect of the hype was enormous, and TRC rose from a pre-pump low of 0.0008 on Vircurex to a high of 0.017 on BTC-e. That's a rise of 21.25x from bottom to top, a gain of 2025%. Verify it with these links:

http://www.cryptocoincharts.info/period-charts.php?period=3-months&resolution=day&pair=trc-btc&market=vircurex
http://www.cryptocoincharts.info/period-charts.php?period=3-months&resolution=day&pair=trc-btc&market=btc-e

In contrast, PPC, which IPO'd on the same day. Without a pump and hype campaign, it rose on its own from a low of 0.0011 to a high of 0.00349. While a rise of 3.17x is still very respectable, the effect of a hype campaign and pump for TRC resulted in a rise nearly an order of magnitude more violent.

The effects of the TRC IPO pump were felt for months, and TRC remained in the general price range high above PPC. The 3 day TRC pump plot, which I spent just 400 BTC on, resulted in the creation of hundreds of thousands of dollars of market cap.

The same can be done with LTC. If there is no pre-IPO pump, LTC will rise to perhaps $7 and top out, just like PPC. If there is indeed a pump, LTC could rise as much as TRC, reaching comfortably into the double digits. Interest in the coin would explode, bringing new talent and investment.

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IV. The Plan: LTC IPO


To accomplish this, we need a coordinated effort. My market power alone cannot simply move a $50M market cap coin.

There are three parts to the plan.

IV. 1) Investor Interest

First, we need to make sure the LTC engine is running full steam on the days leading up to the IPO. Investors and institutions need to have LTC on their watchlists. They have seen BTC bubble from $1 to $32 in the span of 2 months. They have seen BTC grow from $13 to $266 in 4 months. They know the potential of cryptocurrencies in general, and will not want to miss the next train coming around. But they won't hop on board if they don't know about it.

To do this, we can contact cryptocurrency podcasts to talk about the implications of Gox supporting LTC, local news stations (finance section), newspapers (the Guardian has recently published an article on LTC), youtube channels, Bitcointalk forums (speculation boards), and Bitcoin/Crypto meetups. If Bloomberg and Forbes (Jon Matonis in particular http://www.forbes.com/sites/jonmatonis/) cover Litecoin, it will be huge. The focus is to detail exactly why LTC is either equal to or superior to BTC (Scrypt security, faster confirmation times, very active development team), and its potential to be used in everyday digital transactions.

IV. 2) The Pump

Second, the orderbook and price chart need to match the discussions regarding the coin's potential. That means there will be a massive LTC pump happening on the days leading up to the IPO, similar to the TRC ramp up.

For a coin with the market cap of LTC, an analysis of trading volume during past rallies indicates that around $780 000 is necessary for each dollar of temporary rise, and $0.35 of permanent rise. 
That is, for each $780 000 of market power, LTC will spike up another $1 and its long term bottom will be $0.35 higher.

I will be dedicating my cold storage BTC to this effort, for I know the positive effect it would have on my LTC holdings.

This operation is very delicate, as all it takes is one large LTC holder to place a six figure sell wall and cripple the rally. Assuming all large LTC holders are rational, this would never happen, as they would be selling LTC for considerably less than the potential market price. However it remains a possibility, for us humans are not always rational.

If any of you large LTC holders would like to accumulate more, place your sell wall now and accumulate it. Please do not interfere with the pump. If you do decide to hold through the rally, you will be indirectly helping out by effectively limiting the available supply. Thanks.

IV. 3) Blockchain Manipulation

Third, which may be the most difficult to coordinate, blockchain manipulation through miner participation. Leading up to the IPO, turn on all mining machines and GPUs to maximize the difficulty. During the first two days of the IPO, turn mining machines away from LTC. Mine FTC, NVC, or another scrypt based coin. With the high difficulty and low network hashrate, blocks will not be solved. That means when LTC holders try to transfer LTC to Gox to sell, it will take hours before the confirmations come in. As a result, a large amount of LTC is stuck in limbo, on the way to the Gox wallet but unconfirmed by the lagging blockchain. Gox will have no LTC to dump and plenty of investors looking to buy: a recipe for price explosion. Price on BTC-e would follow obediently, similar to what happened to the Vircurex price when TRC made its debut on BTC-e.

It would be in the interest of all miners to mine another coin for 2 days to maximize the size of the initial LTC spike when it hits Gox, ensuring a higher long term LTC value and increased mining profit for months to come.

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V. Information and Contact


This operation is currently in the planning stages, for Gox has not released the exact date and time of LTC support, or what markets will be available. Currently I estimate a late July or early August launch, with two markets: LTC/BTC and LTC/USD.

As more information comes around, I will update the plan accordingly and discuss the plan with large holders of both BTC and LTC through and BTC-e PM (fontas). IRC will be set up in about 2 days.

The IPO is still a month away. There is plenty of time to get everything rolling.
« Last Edit: June 30, 2013, 05:23:37 AM by fontas »

Offline fontas

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #1 on: June 26, 2013, 09:43:16 PM »
Large holders interested in participating in the pump, PM me on BTC-e (username: fontas) or PM me here.

I will set up an IRC group when Gox announces the exact date and time of LTC support.

Offline derekx

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #2 on: June 26, 2013, 10:46:43 PM »
Well said and pretty well thought out.

After LTC hits gox there wont be another shot in cryptocurrency history to see something of this magnitude again. Furthur though, it will have numerous beneficial effects on the coin and cryptos in general in the longer term.

Offline fahrenheit451

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #3 on: June 26, 2013, 11:08:16 PM »
Somehow this feels like planning out the gretest theft in crypto history - only one thing is different - everything is legit. This seems like a good plan Fontas i have to say.

Edit: The more i'm thinking about this, the more i'm starting to see this is wrong. This would just cast enourmously bad shadow on the Litecoin community. This is only for the greedy and the immoral ones. Personaly i think there's surely going to be a full-on rally even without these shady operations.

I know it's naive but why can't you rather spend this amount of energy on something ? To actually support the price by supporting the community.
« Last Edit: June 27, 2013, 06:24:52 PM by fahrenheit451 »
>>>UseLitecoin.com<<< litecoin sites directory - please feel free to give me some feedback here https://forum.litecoin.net/index.php/topic,5131.15.html

Offline omorgan

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #4 on: June 27, 2013, 12:04:08 AM »
Somehow this feels like planning out the gretest theft in crypto history - only one thing is different - everything is legit. This seems like a good plan Fontas i have to say.

Everything is legit in terms that there are no rules in the crypto world.... In the real world these pump schemes are fraud.. But we aren't in the real world, we're in the crypto world so all's well!

As long as the price doesn't go too high otherwise it will come a long way down to a more stable point. Because although that helps people in the short term, making a lot of money, it very much undermines the credibility of the whole crypto market, and the overall volatility of the market. If the market is seen as too volatile (ie not stable) then that means you could be shooting yourselves in the foot. The less stable the overall system the more chance that people like the American government are likely to interfere (like they seem to do with everything, regardless of which country you are currently residing) for the bad.

Good luck with your endeavours, but think about the long term just as much as the short.

Offline ricgoto

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #5 on: June 27, 2013, 01:19:29 AM »
Anyone who has a stake in LTC should be for this. I don't see why anyone would try to work against it, but like you said, not everyone acts rationally.

I'll be participating and I hope we hit your targets!

Offline dogshirt

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #6 on: June 27, 2013, 01:56:40 AM »
.
« Last Edit: July 01, 2013, 06:06:21 AM by dogshirt »

Offline FlReefermadness

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #7 on: June 27, 2013, 02:42:26 AM »
If you been around for these pumps before on BTC-e they have been very effective.   In the case of LTC and the news at hand I also think it is critical for everyone miners, holders, etc get in on this. 

This is how we take LTC to a new level.  Im all in got 2k chips but Ill be around for the show.  Keep us posted.  Fontas your insight is brilliant as always.  I'll summon the minion on BTC-e, Your friend Vegas.  Hawaii here we come.  By the time we get done we will be renting Travolta and his 787.

I advise any and all who believe in LTC to follow.

Offline DiCE1904

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #8 on: June 27, 2013, 04:04:27 AM »
very excited to see how this plays out  ;D

Offline derekx

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #9 on: June 27, 2013, 04:26:26 AM »
Economically, I think Fontas clearly explained the benefits of this pump to the currencies health beyond obvious and entertaining result. The rational is sound and even pretty well demonstrated.

But, I dont think every one fully appreciates the benefit a successful pump would have on Litecoin and the crypto scence in the long run.

Think about it. A possible repeat (or similar performance) of Bitcoin in April would light people up. It would be sensational. People hardly believed it the first time. Most people hadn't even heard of Bitcoin until just 2-3 months ago when its blasted all over the news by a pretty skeptical media. Things like that just dont happen twice in the finance world, well not without lots of jail time anyway....

Serious though, if a pump succeeds, I just don't think you can over hype the reaction. It will generate a great deal of publicity and interest. A lot more people will pay attention and get involved. The crypto-economy will grow and foster adoption, ect, ect. -- Good healthy growth. Which we will need, because seriously folks, dont count on this happening again, not on any scale. The industry in maturing pretty quick.

Just to cover the base - there wont be any substancial negative backlash. People remember the drama and excitement. They don't remember the low month afterwards. And the larger players know the game well.

So, we have nothing really to lose and a lot to gain. Let's pump the hell out of this and get people involved. Gonna need a lot.

Offline dogshirt

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #10 on: June 27, 2013, 04:39:08 AM »
Economically, I think Fontas clearly explained the benefits of this pump to the currencies health beyond obvious and entertaining result. The rational is sound and even pretty well demonstrated.

But, I dont think every one fully appreciates the benefit a successful pump would have on Litecoin and the crypto scence in the long run.

Think about it. A possible repeat (or similar performance) of Bitcoin in April would light people up. It would be sensational. People hardly believed it the first time. Most people hadn't even heard of Bitcoin until just 2-3 months ago when its blasted all over the news by a pretty skeptical media. Things like that just dont happen twice in the finance world, well not without lots of jail time anyway....

Serious though, if a pump succeeds, I just don't think you can over hype the reaction. It will generate a great deal of publicity and interest. A lot more people will pay attention and get involved. The crypto-economy will grow and foster adoption, ect, ect. -- Good healthy growth. Which we will need, because seriously folks, dont count on this happening again, not on any scale. The industry in maturing pretty quick.

Just to cover the base - there wont be any substancial negative backlash. People remember the drama and excitement. They don't remember the low month afterwards. And the larger players know the game well.

So, we have nothing really to lose and a lot to gain. Let's pump the hell out of this and get people involved. Gonna need a lot.

Plus think about how many new bitcoiners there are out there (that arrived via the latest btc surge) that have been waiting patiently for the next big burst in the cryptocoin economy. all they have seen in the past two months is bitcoin slowly arrive at $100. they are primed to jump on the bandwagon of the next sensation, I.E. Litecoin.

Offline MDMD

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #11 on: June 27, 2013, 04:48:07 AM »
I'll be there... I guess its just a matter of when it happens.

Offline ClamatoJohnson

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #12 on: June 27, 2013, 05:01:09 AM »
Based Fontas, do you truly have the girth of a gallon milk jug? I would think so with such divine wisdom and strength. I would drink all the milk out of your jug and pour it all over my, my children, and my children's children's faces for days on end, oh great Fontas. Please let me hold your seed, and spurn me for not being able to birth any heavenly bastard children, for it's hot sticky texture and golden hue is enough to soothe any cryptoconcubine.

Offline derekx

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #13 on: June 27, 2013, 06:22:57 AM »
What are you 12? Fontas could be an 12 year old idiot like you and it wouldn't make any difference. He could be right or wrong or not participate. The community promoting its coin collectively in any of those methods described all have a net positive effect. We dont lose either way. Go away.

Offline Soureal

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Re: [LTC on Gox]: Litecoin's Pre-IPO Pump Plan
« Reply #14 on: June 27, 2013, 09:12:22 AM »
Good idea, we need more "active ideas and works" like these from fontas to push LTC to the world. Ask at internetshops like gyft or bitstamp for LTC support - more mails, better effect. i really hope that gox will launch LTC in july, but you know gox - they tell much. i'll not suprised when there is no LTC at August 1st...