Bitcoin Forum

Feel free to add more.

Let's get to the bottom of this, maybe we can help them  ;)

I dont really have an opinion on it, but tell me, whats not to hate? Whats so good about it? How is it better than any other coin?

Not being a dick, I would really like to know.

Then just leave it alone. Hating is not good to your health.

So people curious about what advantages Litecoin has, you're saying They shouldn't investigate, just leave it alone?
That's how you're going to expand?  :)

nah. There have been plenty of discussions on that topic, just search the forum.

I don't want to get entangled in technical detail discussions, I am more interested in some insights from psychological and philosophical angle.

The question is based on a false assumption and can't be answered truthfully.

Personally I don't hate LiteCoin but I think it's a pointless project for three reasons:

1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.

2) LiteCoin appears to be a cynical attempt to recreate the early days of BitCoin. This won't work because in the early days BitCoin never had to compete with an entrenched version of itself.

3) LiteCoin has wicked supporters, particularly those that chat on the btc-e chat box. They tell blatant lies about how LiteCoin will obsolete BitCoin. They try to fool people new to BitCoin into buying or mining LiteCoin. The BitCoin community is full of scammers, the LiteCoin community appears to be worse.

I am disappointed with your knowledge of Litecoin and Litecoin community.

I am disappointed with LiteCoin and the LiteCoin community.


Don't try and imply that LiteCoin is anything other than BitCoin with a single changed variable, because it isn't.

Don't try and imply that the whole LiteCoin project is anything other than a cynical attempt to recreate the early days of BitCoin as a get rich scheme.

Don't try and imply that the LiteCoin community are even up to the generally bad level of behavior of the BitCoin Community, because from what I have seen they are far worse.

Not to mention that the recent influx of hashing power made Litecoin absolutely ridiculous to mine. See the recent massive difff changes.. Enough to anger me.

And what is that variable then according to you're knowledge ? Just curious.

What assumption?

Yes you do.

Wrong. I think what you were referring was the block generation rate and total.
The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.
  
If you still think you are not a Litecoin hater, just count how many derogatory/negative words you've used in one paragraph.
Whenever money is involved, there are always people trying to cheat or steal from you, you just need to be aware of that. I've done many transactions in both BTC and LTC and never got scammed. I've sold quite a few items in LTC, and found the user community mostly trustworthy.

I hope you can have more positive and brighter view of the world around you.

 

Come again?

LOL

Why would you start out hating something? The reasons Litecoin was created are laid out on the site. Many other coins got 51%'d or just didn't get enough attention. Litecoin was hyped to ensure that it could not be attacked and there would not be any particular person with many Litecoins at the start, unlike other coins that had a massive premine.

The USA has outlived multiple currencies since its inception - most but not all called the Dollar.  Property of the USA does not mean property of the Federal Reserve.  I don't think the USA has a dog in this fight.

You have answered your own question in your own way. 'They' hate LiteCoin because anyone who anyone who isn't a fanboi is a hater. No alternatives exist in your mind.

You have no reason to ask questions if you are certain of the answers. I'm just glad I don't live in your black and white world.

Wrong again.  You have every rights to stay away from Litecoin if you don't like it, trying to spread your bad feelings toward anything is unnecessary.  


For example, after some research I felt I dislike certain aspect of a new alt chain currency; but instead of badmouthing it, I simply chose to ignore it and moved on. The result: a better, happier healthier life.

Why is that so hard?

Didn't you start this topic to hear why people didn't like Litecoin? Now you're effectively telling him to shut up.


Technically, that's a variable. There are several encryption schemes that could be used to make a cryptocurrency. Bitcoin chose one, Litecoin another.
Also, you chose to nitpick instead of acknowledging sd's point. I hope you are not representative of the Litecoin community, because you are not doing a good job at that.

I didn't tell him to shut up, what I suggested was to move attention away from the things he hates. It's part of the healing process of a psychological disorder (hate) .

Here is the definition of "variable":  http://en.wikipedia.org/wiki/Variable_(computer_science) (http://en.wikipedia.org/wiki/Variable_(computer_science))

In a broader sense, technically the entire human history is just a variable in the grand picture of cosmic evolution  ;D, but I guess we have to stick to the context of sd's first post. Reread it please.


Nitpick? There were five paragraphs in sd's "points", and I commented four of them, the only one I left out was:
    >> 2) LiteCoin appears to be a cynical attempt to recreate the early days of BitCoin

If he didn't know Litecoin uses a different encryption algorithm, why would I bother commenting?

Representative? Thank you for the compliment.

THIS.

US government can claim intellectual property rights to the bitcoin system?!?!?!??!

In cryptography, SHA-2 is a set of cryptographic hash functions (SHA-224, SHA-256, SHA-384, SHA-512) designed by the National Security Agency (NSA) and published in 2001 by the NIST as a U.S. Federal Information Processing Standard. SHA stands for Secure Hash Algorithm.

If a few people want to hate on litecoin for whatever reason, let them. From everything I have seen, even this thread, most bitcoiners actually support litecoin. Of course its difficult to measure the exact level of community support, but at the very least the number of bitcointalk members mining litecoin seems fairly encouraging.

Also, as somebody else has mentioned, the US gov't has control over the "export" of this, for example it would be illegal to put it in the hands of iranians or what not.

we need a litecoin subforum instead of just having everything in "alternative cryptocurrencies"

http://forum.litecoin.net/index.php

IMO, litecoin is kinda pointless. There are very few services that accept them & it has very few advantages over Bitcoin. 99% of litecoin users are using it as a get-rich-quick scheme by either mining the crap out of it (using GPU's even though its original purpose was to be unprofitable to GPU mine on) or just buying and hoping the value goes up.

This is how BTC started. Let's talk in about 2 years and 10 months when LTC blocks halve.

if litecoin is around and not picked up yet maybe that will make or break it

Sure it uses SHA-256 which was developed by NSA, but so does EVERYTHING. Banks & fortune 500's use SHA-256, Facebook use SHA-256 for its password database, many Linux distro's store user password's using SHA-256, heck even the software that is running this forum (SMF) has an option to use SHA-256 to hash the password database & I would assume this is the option that is currently being used.

You're totally right about it being property of the US government & AFAIK you technically need a license to use it which obviously we don't have, that isn't a huge problem though, take a look at Linux, many distro's violate a bunch of software patents & licenses and nothing happens from it.


I'd love to know what you think it really means.

Actually as a standard published by the US government, SHA-256 is in the public domain. All government publications released to the public automatically enter the public domain.

i got cryptogold -> bitcoin

and

i got cryptosilver -> litecoin

and

some cryptocopper -> namecoin

happy mining
;-))

You're right, so we aren't even in violation of any licensing agreements (I was sure there was some sort of license, apparently not),

It is beyond retarded to hate inanimate object like a pile of code - in this case it's litecoin.

I think when people say they "hate Microsoft", what they really mean is they have understood what a pile of shit MS software really is and they disapprove business practises used buy Microsoft while selling (most of the time forcefully) their crap. Nothing wrong about "hating" scumbag companies and greedy fuckers who run them.

At the same time, nobody is force-feeding you the LTC code nor the concepts implemented in LTC. You are free to chose.
If you think LTC is just a 1:1 copy, you really need to spend 10 more min. reading about LTC. Sure, it's nothing revolutionary (or is it?), but LTC still has advantages over BTC, when it comes to usefulness in business environment.

Childish statements like "litecoin users are using it as a get-rich-quick scheme" are kinda funny. If you believe that BTC and LTC are different in that department, the you are just wrong. :)
Most people who mine any of those coins think only about the money. If LTC is a scam, BTC and all the rest are scams too - if same parameters for defining a "scam" are used. 
Same applies to "just buying and hoping the value goes up." - no difference at all. Gold anyone? :)

As of today, LTC is the only successful alt-coin - it's still alive (1y+), doing well and is getting ready for the big time.

As of now, there are 2 good alternatives to BTC - LTC and PPC.
If LTC implements some of the interesting ideas of PPC, we are probably going to have a winner (if it's even possible any more)

There will be many alternative coins down the road. You can be like some of the dim witted fucks around this forum and "hate them" with all you get... until you get a heart attack and keel over for good (please do it BEFORE! you procreate) LOL

Cheers!

I completely do. I don't buy BTC and hope that the value goes up, I buy BTC to spend.

Let me ask you this, what other reasons is there to buy LTC, other than hoping the value goes up?

Also, I'd just like to point out that I don't hate Litecoin, in fact I used to use it back when it was a true CPU chain & it was being accept for products/services, but now I honestly fail to see the point of it, I don't think there is a big enough market for altchains that directly compete with Bitcoin at the moment.

No license is being violated.  There is lots of FUD in this thread.

LiteCoin is (previous crypto currencies)

not innovative
a copy

For me it is a waste of time and money.  8)

but some people do spend LTC:
http://forum.litecoin.net/index.php/board,7.0.html (http://forum.litecoin.net/index.php/board,7.0.html)

To further prove my point, if you pay LTC, I'd sell you a few silver bars at 10% discount comparing to what is priced in BTC:
  http://coinabul.com/silver/index.php/silver-sorted-by-weight/sunshine-minting-1-oz-bar.html (http://coinabul.com/silver/index.php/silver-sorted-by-weight/sunshine-minting-1-oz-bar.html)

what do you think?

I certainly don't understand why people are "against" litecoin for whatever reasons, as fickle as they may be - "I hate it because of kids in a chat box on one site!"   ::)

I like litecoin purely for the fact that I can easily and quickly exchange it with bitcoin, and as I've said in another post, by proxy that makes it as useful as bitcoin.  Most other currencies become a hassle to exchange due to regulations/AML/KYC/etc.  Also I consider it a hedge for people "investing" in crypto-currencies.  Don't put all your eggs in one basket.

There are also many other potential uses.  For instance, people concerned with anonymity could utilize a few hops between LTC/BTC chains to obfuscate a transaction trail.

Now compare that to the thousands of merchants that accept BTC.

I'm selling heirloom seeds for LTC

yet same argument can be used against BTC by pointing to the number of merchants accepting Paypal.

My guess is you will be able to pay with ltc all over the board, most places that accept btc can easily accept ltc as well. Ltc is young, wait one more year and see what happens.

Also, hedging against BTC or USD is in itself a valuable use. Speculation, supposedly so looked down on by many as not "a real use" is a use as well. Has everyone forgotten that Btc is just as much of a huge casino? BTC can drop like a stone any day and lose all of its value in one day. It isn't likely, but it is possible. Go look at posts in December 2011. Bitcoin was almost dead in the water at barely 2 USD per coin. Everyone suddenly disbelieved in it.

Nice to pick to believe in something only if it's doing well. Really wondering what will happen to all new btc enthusiasts when Asic hit and Btc falls back to 8 or even 5 USD.

This ^ +1.

So many old timers here who think that BTC is untouchable because it is $13 or > $10. Oh no...what if it goes < $10.... :o :o :o LOL!

personally the only reason i dislike litecoin is because I fell in love with bitcoin long ago and don't want to fall in love again  :D Plus I hold a healthy (unhealthy according to my girlfriend) amount of bitcoins. I've been thinking of picking up a few thousand litecoin just in case litecoin does become the de facto cryptocurrency one day.

I certainly wont be encouraging people I know to get involved with litecoin though. I plan to (havent gotten around to buying any yet) use litecoin only as a safety net and hoard it. I'm a bitcoin boy, and that's how i'm going to stay.

not trolling, just telling the truth here.

There really isn't a big reason to have too many cryptocurrencies.
It is much simpler for everyone to stick with a single one, no matter which one they pick.

Simply not as fun ;)

Litecoin survived the tough battles of its contemporary alt coins like, TBX,FBX,Liquidcoin,SolidCoin,devcoin etc and emerged victorious.So,its to be loved instead of hate.  8)