Bitcoin Forum

Is he trolling or serious?

LOL! love the gif  :D

I love the gif too!

Coblee's personal financial decisions have nothing to do with LTC network.

Let's correct your opinion there rabbit.

Speculative markets aren't mistakes if they are unregulated and part of a free market system.

There are more LTC developers today than when LTC started. How is that a mistake?

To clarify, I don't think I actually said TRC will indeed succeed. What I said, (in bold below):

I feel an oppertunity to really build TRC in a way that LTC stumbled. I was around for the whole LTC thing and I think some of the mistakes can be avoided.

I stand by that statement- it makes sense. Besides that I was saying it was my opinion, and Smoothie deleted the part where I said it was just a quick synoposis of some of my thoughts- I had made it pretty clear in the chat I was busy. So it's not like my treatise or anything.  :P

Question: How is TRC any different than IXC/I0C? Besides # of coins per block, block times, diff readjustment?

Oh lord, I got trapped in a trolling flame war! Just what I was trying to avoid on a Sunday night! Smoothie! I give up! You're Right! You're Right! Uncle! Uncle!

LOL!

Point made.

Funny thing is that ASKING QUESTION =/= TROLLING. It's only trolling (to you) if I disagree with you.

well the genesis block has a different hash.... :P

OMG you're right! TRC is the best! hahahahahahaha  :D

Aright I'll tackle it, but that could have been done by anybody with a little common sense in here, probably nobody cares to answer you because the issues you raised have been answered many times already.



crazy_rabbit: 1) founder invests in pozni scheme dumps personal fortune into pirate, goes down with the ponzi, rep is hurt, personal LTC investment sucked dry, loses financial incentive to develop.

if anything coblee investing in pirate and subsequently paying back out of his own pocket is an endorsement for litecoin, he may not have the best financial intelligence but certainly is an honest individual.

crazy_rabbit: 2) founder disappears along with the early supporters of the coin, price spikes, people pile in, speculate and hoard.

Satoshi disappeared, if coblee disappears how would it bad for LTC if it wasn't bad for BTC?

crazy_rabbit: 3) bounty campaigns dry up, hoarding takes over, development stifles, no new major features added.

if you are looking for bounties, there were plenty in solidcoin and are supposed to be plenty in freicoin.  :D
Have you measured the amount of hoarding? Is it any different than in any other coin including BTC?
LTC is a bitcoin fork, besides the core features it will get developments from BTC this goes for any other cryptocurrency currently here.
Extending additional functionality is difficult and not really supported by the Bitcoin source code to the extent that it wouldn't change the economic principles around it. I would endorse such an effort but I think it would require starting from scratch.

crazy_rabbit: 4) coin becomes speculative, infrastructure lags, core development ceases. Wiki fails to be updates, LTC only forum is near ghost town.

subjective bias.

Crazy_rabbit,

Some links for you:

http://forums.microcash.org/ <--------dead forum

http://forums.microcash.org/index.php/topic/710-hello/ <--------- lost sheep

^ That is what you call a failed crypto.  :D

I don't get it. Is crazy_rabbit the guy that made TRC or what?

I don't really know anything about TRC other than it is the same as Bitcoin.

Honestly ElectricMucus, I had no idea this would get posted here. I was in a longer conversation over at BTC-E and one user really wanted a quick synopsis, I was writing this and smoothie reposted sections of it here out of context. I wasn't intending to make a cohesive argument, and nor did I (obivously). You have excellent points as well. I never even said this threads title. So it's a mountain out of a molehill. TRC is a project I'm working on and think i can do well by. I've been a big LTC supporter as well. This thread was a (unfortunately successful) way to drag what was supposed to be really quick answer to a guy in the troll-box at BTC-e into a long conversation here on the forum.

Mission accomplished I guess, but it's a bit disingenuous as it definitely doesn't accurately represent my opinions nor do any sort of justice to the ideas behind any of it. It's just baiting.


a) no, I didn't make TRC. I'm a hobbiest who likes the idea of TRC because it's funner to develop with then the Bitcoin testnet.

b)TRC other than it is the same as Bitcoin: it IS almost the same as bitcoin with the exception of a couple small differences it is very similar.

Says the guy who made the phantom coin
PLEASE!



---
crazy rabit has to apologize for nothing, he just said his opinion/point of view as anyone has the right to do, freely
and smoothie, yes your previous question was pure trolling
like "Whats the difference between water and lemonade, if we exclude the lemon juice, the sugar and the different bottle?"

Some people just feel fear about their coins, or think there is an active coin war and they have to choose/defend a coin.

Some days later we may see another coin, BCC (BullCrapCoin) and everyone will start bitch about. Pointless? Yes.

It really wasn't out of context. You did claim LTC made mistakes. I reworded that as failures. Big whoop.

Title of thread has been changed and everything else was quoted from the chat VERBATIM. Nice try to wiggle out of the "context" presented in this thread.

If LTC founder disappearing is a mistake, then where's the TRC founder?

I see a few people spamming new threads about it non-stop - but where IS the founder(s)?  Or is the plan to avoid the "mistake" of the founder disappearing by not having any founder appear in the first place?

Satoshi left Bitcoin, so that was a mistake? Logic fail in the house for Crazy_rabbit.

I would not personally put my time or money into Terracoin at this point in time but I do believe that Crazy Rabbit does raise some good points about LTC that we should be concerned about.

In fact I'd say that if you are reading this and are not worried at all, about Litecoin's future, then perhaps you should ask yourself if you have become a member of the Litecoin cult.

I see nothing to worry about as far as litecoin is concerned, because litecoin actually introduces something of value: an ASIC/FPGA resistant hash algorithm.

The problem with TRC is that regardless of your developer bounties or your support in updating to the latest port of bitcoin-qt, there's still nothing at all innovative about TRC.  Why SHA256 mine TRC when you can already SHA256 bitcoin itself, which has massive support?

So there's the problem with TRC: no novel core functionality to spur on its adoption or worth.  If you want me to I could make a Terracoin2 fork in three minutes by changing three lines (genesis block, block reward, and block time) in bitcoin-qt with I don't know, say 12.5 coins per block and an average block time of 7 minutes?  But, who cares?

If it was merged-mine-able I would add it to my merged-mining mix but since it is not it does not make sense to me to mine it instead of mining many coins at once (including bitcoin itself) with the same hashing-power.

-MarkM-

From the beginning I've mentioned that I liked TRC because of it's "test-net" qualities. I, along with a number of other people here have really learned, and continue to learn, a great deal about crypto, programming, github, linux, etc... thanks to playing with TRC.

Why not Bitcoin? Because Bitcoin is valuable and mistakes are costly. Not to mention that almost all the things an amateur/novice programmer can sink their teeth into have already been done, and done better. There is a greater sense of personal satisfaction in doing something first and being part of a small community that is growing at the same time.

Why not Bitcoin Testnet? Because testnet is a lonely place to be. People aren't really actively mining testnet coins, nor is anyone really very interested in testnet projects. To test things out- like shorter block intervals, or stuffing torrent links into the blockchain, or anything, it's funner and more rewarding if the coins are actually moving around- which with TRC they are.

Why not Litecoin? I've always been into litecoin, since the very start, and I'm still interested in it but I'm also running a real business that works with Bitcoin. TRC's simmilarity with BTC makes it more convenient to experiment and try things with TRC that if they work, I can then port without so much difficulty over to BTC. My Terrawallet.com is a perfect example. Would anyone dream of using a bitcoin ewallet that runs the bitcoin dameon on the server? Hell no. It would be like crime scene waiting to happen and no one would ever try it out. Instead work on it (with help!) for TRC and people like it and try it out. I learn along the way, I investigate the code, I try different things.

The insistance that an alt-coin has to be fundamentally different in order to exist is too narrow minded. Bitcoin is nearing a quarter billion dollar market cap. I'm not fooling anyone into thinking they are going to be TRC billionaires. My bounty campaigns give out generous numbers of coins to others who are liked minded, interested in the experience, those who appreciate the journey and not the destination. If I thought TRC would be worth $20 each one day, I would't be giving away thousands of them when I have to mine them myself (I have free Electricity and 3x 6950's hashing that paid for themselves with LTC) or buy them like everyone else on the exchange.

So that said, everyone should get on with their lives and their coin projects. The bitcoin community thinks this subforum a ghetto of stupidity as a whole, and it's not worth our effort to cannibalise each other.

My 2 satoshis as a last-arrived on the TRC scene:

I expect that once ASICs arrive many VGA miners will try to mine alt.coins instead of just giving up, and in so doing they will increase much some alt.networks hashrate (making it more safe and serious) and make some alt.coin scene livelier, so probably some alt.coin price higher. (This regards only alt.coins that cannot be merged-mined of course. Those who can be merged-mined will end in the hands of ASIC miners like BTC).

A problem with LTC is that they require different setups and use to overheat VGAs much more than BTC/TRC mining, so they don't seem so much appealing for the lot of vga miners.

On the opposite, TRC require no setup if you have a BTC rig ready, and they have some other nice aspect (fast block generation/ faster tx). Of course there are no barriers to make further BTC clones, but we will be grateful for that once TRC ASIC miners will come out.

TRC  is trash, what is the point of it, it uses same confirmation algorithm? Currently BTC and LTC only. Hopefully when there would be BTC ASIC, we will see rise of LTC network.

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   :(

It diesnt mater, it use script, as memory intensive algorithm, it obvious that memory algorithms might be implemented on gpu, how ever, there is no such big difference between gpu and cpu,as it is with bitcoin.
The only thing which might be good for cpu is where there is a lot of branching, I dont know any crypto algorithm that does that. And ASIC for litecoin will cost much more, because they will need a lot of local ram.

It matter if you are hoarding (Investing) in LTC; The GPU factor gives to much velocity to the coin and generate BIG bubbles in the market, this is BAD for investing or commercial propose, as you see "NOW" the market is speaking about this factor, LTC is deflating fast and lost half his purchasing power, this piss off a lot of investors and obvious they sell off at the top of the bubble, including myself (A former big LTC miner and investor).  Lucky I sell off mi position @ .0078 and I buy real SILVER @ 26.70/Oz.
Don’t get me wrong, as I say I was a strong LTC supporter, but this issue gives me the creeps.  ;D
 

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

I’m not talking about technical issues, I’m talking about the economical fundaments based on CPU mining VS GPU mining and the impact on the coin in the market caused by this switch; LTC was designed to be mined by CPU in his fundaments.

I'm mining with my damn CPU

laSeek, explain the hardware scaling solution?

if I remember btc was designed for cpu too

but then artforz I believe was the first to gpu mine on it

https://bitcointalk.org/index.php?topic=69357.0

I know, i mine myself BTC with mi CPU but BTC is pioneer; When LTC born mining whit GPU are a possibility, still the developers decide that LTC will be mined by CPU … there is a fundamental reason for this, or not?

Yep, when LTC arrives i remember mining with my CPU, in solo mine I find multiple blocks; Now is nearly impossible to find a block whit a CPU.   :(