Bitcoin Forum

Out of all the arbitrary lines you could draw between "legit" coins and the rest, drawing it at Litecoin is just unreasonably silly.

Anon coins don't count because they are a stupid non-legit idea.

I don't agree on the fact that litecoin is only a legit coin as there are many other coins like xmr, etc, eth and zcash that are surviving from a long time and that makes them legit as if you invest in those coins there is least chance of loosing your money but the same feeling doesn't goes for litecoin as it may disappear in coming time period.

LTC is the only legit alternative currency.
All the others are bullshit like clones or anon coins or not a currency at all.

Prime Coin, Grid Coin get a worthy mention though.

Now you know ;)

LTC is the only legit alternative currency.
All the others are bullshit like clones or anon coins or not a currency at all.

Prime Coin, Grid Coin get a worthy mention though.

Now you know ;)

In what basis you are saying only lithcoin is the legit alternative currency. In my opinion all altcoins are developed based on bitcoin. But there are some altcoins which have potential to become hugh like ether. Ether is not exactly a clone . Both bitcoin and ether are totally different like water and oil.

Maybe you can rephrase your conclusion that litecoin is the only legit altcoin. Actually there are many altcoins that is worth to invest eg. eth, etc, xmr etc. As we can observe in the market there are other coins that is legit and quite moving from dump and pump scheme but thats nice to invest also. Though litecoin is one of the legit altcoin..

LTC is the only legit alternative currency.
All the others are bullshit like clones or anon coins or not a currency at all.

Prime Coin, Grid Coin get a worthy mention though.

Now you know ;)

All i can think is.. Currency.

Well, this period seems to come to a close for bitcoin.  Bitcoin is not really useable any more as a currency, with the full blocks, the long delays, the high fees and the uncertainty of getting your transaction in a block. 

Agreed its bullshit that they can't come to a agreement on this it's like they are waiting for BTC to crash and burn I don't get everyone knows the blocks are full instead of the Chinese miners and the core devs bickering back and forth put it up for everyone to vote on they aren't the only ppl who care and use BTC.

Well, there are altcoins with hard limits, like bitcoin ; there are altcoins with extensible blocks too, without hard limits.  The first ones will face exactly the problem bitcoin is facing, but only when they "get filled up".  The second ones will be able to accommodate until they hit smoother, and more practical, technology-related issues.  Some alt coins have centralized decision infrastructures that can modify things in a centralized way, deciding one way or another. 

But the biggest difference between bitcoin on one side, and altcoins, on another side, is that there's (for the moment) only one bitcoin block chain, and there are MANY alt coins.  While the number of bitcoin chains is limited (to 1), the number of altcoin block chains is essentially unlimited.

So when bitcoin is "filled up" and reaches its limit of transactions (that's about right now), an altcoin can still "fill up".  When that altcoin is "full", yet another altcoin can start filling in.  And so on.

Bitcoin's legendary immutability will make it what it is today.  Exactly the same forceful immutability and consensus mechanism will make it impossible for bitcoin to do anything else but remain bitcoin.  I seriously doubt that the block size will change, that Segwit will get accepted, or that any other important change will ever happen to bitcoin, because of, exactly, bitcoin's legendary immutability.

Bitcoin has a huge first mover advantage, and a huge "moral high ground", which is why, 8 years later, bitcoin is still number 1.  But it is hitting its technical limits, as they were laid down long ago.   Alt coins have been living in bitcoin's shadow for most of this time, even though many of them are now technically superior, because they could implement solutions to bitcoin's shortcomings that bitcoin cannot implement (because of its immutability).  Bitcoin being "full", this will start eroding bitcoin's leadership ; alt coins will be able to fill in the room that bitcoin cannot take.

I'm not saying that a *single* altcoin will overtake bitcoin.  I'm saying that once bitcoin's unique position as first mover is being eroded sufficiently by practical problems (full blocks, high fees, long delays, no privacy, Chinese centralization...), *several* altcoins will fill in the gap, and bitcoin will be a crypto like any other alt coin in the long run, after its first mover edge has been eroded away.

Even though every single block chain will run into capacity problems, *a lot of independent block chains* are able to scale: just add more chains.

Not at all.  Hard fork means that the chain is now two independent chains.  On each of these two independent chains, there is consensus.  There's no interaction any more between the two chains, they are now two different crypto currencies.  The market cap of the original chain will now be split over both prongs.  Of course, users and miners might all flock to one of the chains, and abandon the other one.  Or not.  In the end, the users will decide upon the market cap split, and the miners will follow.


That is exactly democracy: the majority imposes its will on the minority.  What you call "democracy" is what is called "consensus".
As long as the soft fork doesn't have a majority OF MINERS behind it, it doesn't impose its will on the others.  Once it does, there's NO FURTHER OPTION. 

What is important to realize, with a soft fork, that is are not the *users* but the *miners* who impose their majority on everyone.  With a hard fork, even if only 10% of the miners continues on the old chain, maybe 90% of the users prefer the old chain, and the old chain coin will get 90% of the market cap.  This is extremely lucrative for the 10% of miners, and the miners that chose the new pron (90% of them initially) will revert to the old chain because it is more lucrative.  In the end, the mining distribution will follow the market cap, determined by the users (they determine, on exchanges, how they value the new coin versus the old coin, of which they hold, initially, equal amounts after the hard fork).

This is not the case of a soft fork.  When a majority (51%) of miners, and miners only, whatever users think, applies the soft fork, it is imposed on everyone: the minority of miners have to follow, there is only one chain, and the users have only one token and cannot "vote with their money" as there is no other token to buy.

That has nothing to do with it.  Segwit is a SOFT fork.  So this doesn't apply.  We're talking about a hard fork (BU).  A hard fork can be pulled off from the moment you have 5-10% or more miner support, and will give rise to two coins if you have less than 90%-95% of miner support.  If you are lower than 5-10%, your chain will not live ; if you are higher than 90-95% your new altcoin will replace the previous coin.

With a soft fork, there are no two coins.  So the ETC/ETH situation doesn't apply to the Segwit situation.  We are only talking about the BU situation.

The reason is that you mentioned that BU is waiting to have "51% of miner support".  But for a hard fork, "51% of miner support" has no meaning.  It is "more than 10% of miner support" and "more than 90% of miner support" that are the meaningful numbers for a hard fork.  51% has no specific meaning.  Less than 10%, you can't pull it off.  More than 90%, you will keep one coin (the altcoin).  In between, you will create 2 coins, the old one, and the new altcoin, and both will live.  During their life, market forces will determine the respective market caps, and HENCE the miner ratio.  Like ETC/ETH.   


Again, BU will NOT HAPPEN, simply because if it were, it would have happened already.  With 25% of miner support, the hard fork is viable. 

And segwit will not happen either.

Nothing will happen.  Bitcoin will remain stuck where it is. 

I don't agree however It's a pity that Gridcoin that you have mentioned here doesn't get the attention deserved, It's the only coin where mining isn't a waste of computational power and energy.

Yeah dude, you're right. Litecoin offers so much more than bitcoin, and it is accepted at so many places! Also the price has just been steadily increasing forever. Not even one dip down!

/s

Nobody is fucking using this shit.

Litecoin was good at the beginning but slowly it got faded. It's not the only altcoin which is legit, although it's on how you define legit. I feel Monero is better and may get better in the future.

I didn't hear any criteria from any of you as to why YOUR coin is legit.
You just keep harping and cawing like a crow.. it is.. it is.. it is.. over & over.
Good luck with that.

@dinofelis
I have no idea what you are trying to accomplish with all the comments here on the forum.

Lets put this into perspective Dino.
You got here way the fuck after i did and based on the timing i bet my left nut you showed up here buying & selling Doge coin.

You have refused to say what coins you have owned / traded and skirt around defending some coins essentially playing games.

1,000 comments and none of them from you saying WHICH coins you do or do not support.
Just theoretical backyard existentialism crypto rabble bullshit.

yes I think is also like that, lite coin really legit
but unfortunately the price is very small

When i tried it in 2013 it was a SCRYPT coin.
So yeah you did do work for Boinc / SETI etc etc
BUT !
You were still scrypt algo mining.
Not sure if it changed since.

And unless you guys start focusing on "Currency" get ready for this to sink faster in the toilet.
I am tired of the stupidity.

You all make and support alternative use scheme coins because you don't know how to make a better Bitcoin (that will get popular and make you rich)

Making and supporting a crypto currency that succeeds is not in all your interest.
You say one thing and do another.. you are all 100% full of shit.
Let me know how that works out for ya ;)

Look in the mirror douche bags.. it's YOU guys who piled in here late supporting crap like Doge Coin making it the no. 2 coin on Earth for a LONG TIME by spending REAL money on them.
What ? Did you idiots not know it was bad then ?
You knew so cut the crap.. how many of you spoke up early like i did ?
None of you.. you all silently went with it.. for teh ROI'z.

I have more crypto-cred than all of you combined.
I am smarter for a million reasons such as never using my REAL MONEY to buy shitcoins for ROI'z.
I don't have a shred of respect for 90% of you.. your worthless scum.
And if i think that imagine what the planet thinks.
They are not here for a reason dumb fucks..  ::)

I warned you all long ago.. get smarter or suffer the consequences.
There is no escape.
You will all fumble over each other to hide and point fingers when the time comes.
Don't like my comment here ?
Blow me ..then create a new account crying FUD & Troll investards.. it's all your good at.

It is not the fault of a specific person or group.  It is the immutability dynamics of bitcoin itself which prevents that it changes.  Not the fault of the Core guys, the "chinese miners", ...

The consensus of immutability makes that nobody can change the fact that there will be 21 million bitcoins.  There will never be total agreement over changing this, because it is an economic scarcity parameter.  The block size now also became a scarcity parameter, installing a "fee market".  Some people profit from that.  In the same way that miners are, by competition, forced to come to consensus over the immutable block chain, they are forced to respect this other scarcity parameter.

So bitcoin will not change.  It might hard fork (BU), but most probably not.  Segwit will not be adopted either.  Bitcoin is locked into what it is, today, and its very mechanism that makes bitcoin trustworthy, is the same mechanism that will prevent any change.

You can read more about it here:


and here:


and:

I support all coins that can help people escape state and law.  Because I think state and law are the evil of this world.

LTC is the only legit alternative currency.
All the others are bullshit like clones or anon coins or not a currency at all.

Prime Coin, Grid Coin get a worthy mention though.

Now you know ;)

Then why are you here ?
Clearly your agenda is about breaking the law and battling "the man".
I came to support a currency and hopefully see it adopted and used by the public.

Do you see how you are a fucking nutcase ?

Believe it or not.. i am the normal one here  :D
Nope.. ole Spoetnik did not come to crypto for ROI'z ..or to topple the govt's and destroy fiat.
I came to see a crypto coin make it big and get used.. i know right blasphemy.. pure heresy  :o

So.. what coins push towards this goal ? Steem ? BlockNET ? Ethereum ? Doge ? Zcash ?
Seems to me Litecoin fits the criteria a whole lot more than all those other coins.
Ya know this isn't complicated guys..

---

EDIT:

Oh and i will not be supporting coins because they break the law.
Because i have not seen one made that could do it !
If the time comes when there is a coin that can reasonably side step all law then fine i will reconsider.
So far i see the early stages of an ugly battle brewing with cocky idiots pushing ANON shit.
I am not against anon coins or DM's per say..
I am against the notion we are telling people they can be done as we see them now.
We are going to have a shit storm coming with the anon coins we see already made.

All i am trying to say is i would support a reasonable and realistic and practical implementation of one should it arise.
So far i don't see one that fits the bill.

I don't support anon coins for example because all of them that have come out *so far* seem to have serious problems i think.
If one comes out that is different and can minimize the risk to the users then i will reconsider my stance.
I don't wan to see "investors" burned on exchanges or kids buying weed on DM's get arrested.
I don't care about all your ROI's.

What's new...  It doesn't mean you couldn't have fun trading the other altcoins tho.  Trading is a fun endeavor by itself.  It's a different, kind of a fun calculated form of gambling that you can't get by betting on sports or playing poker. 

If ever something big goes wrong with Bitcoin you know what the safe haven coin is.

That is like saying participating in PONZI schemes / Pyramid scheme can be fun.
True but there are victims and consequences.

Idealism has to be thrown out the window if you say that.
You can't write a coin cloning guide like Shakezulu did on Devtome saying it's "for fun & profit"
Then *try and parade around here like you have integrity.

Currencies are not suppose to be "FUN" that is retarded.
They are suppose to be a currency and how much fun is your FIAT ?

No.1 complaint of all time about Litecoin ? Is that it's boring.
More mensa caliber genius from brats children kids babies goo goo gaa suck hole profiteer kidiots.

Some of you have no problem victimizing children for lunch money here.
Oh look flashy Meme coin.. buy kids ask your Mom for money !!!11
..for fun & profit ::)

You then say use due diligence.
Yeah.. in a crooked rigged unfair scammy lawless corrupt scene where it's not possible to get treated fairly.
It couldn't be more simple.
Most of you in the scene support bad shit for dollars $$$.
You make pathetic stupid excuses to cover it up and smooth it over.

Fun ?
Sorry profiteers but "fun" is not he topic here.
We are talking about currencies and which ones may or may not be legit.
Joke coins for "fun" are not applicable to the criteria of legitness !
Next...

LTC is the only legit alternative currency.
All the others are bullshit like clones or anon coins or not a currency at all.

Prime Coin, Grid Coin get a worthy mention though.

Now you know ;)

Then why are you here ?
Clearly your agenda is about breaking the law and battling "the man".
I came to support a currency and hopefully see it adopted and used by the public.

I'm here to looking for new coins that can have some real use to profit from them buying and reselling at higher price, not "to break law", only I'm not so dumb to not see that at this time the main use of cryptocurrencies is exactly to go out of control of the law and whatever authority and not to buy from Amazon or from restaurant with credit cards that are comfortable enough.

They can vote to increase the bitcoin circulation beyond 21,000,000. if they don't, not realizing that bitcoin is not sustainable, someone else will with another cryptocurrency (as you have said, economic scarcity which benefits some).

About transaction limits, what about the lightning network?

The main concern is the fundamental limit on all cryptocurrencies due to blockchain size, which will always get bigger if all transactions must be stored on all nodes. But there are pruning discussions going on. Why not just take old transactions off the blockchain and require x nodes to hold copies of those, where x is large and distributed enough. Hashes can be carried forward to maintain the validity.

They can't.  That's the whole idea of immutability consensus.


That's a banking layer on top of a crypto.  There will be big "lightening hubs" where normal citizens have their account.  Bitcoin or whatever lower layer will be the "central bank settlements" between banks in that case. 


The problem with pruning is that you have to know which transactions are spent.  And if you know that, then you cannot hide it, and hence, confidentiality is gone, and with it, fungibility.  At least, in a block chain setting. 

Litecoin it is but the problem with it is no improvement

51% of miners can soft fork and increase the hard limit on # of bitcoins.

What is the problem with a banking layer on top of a crypto?

Every coin could pump to $1k each and LTC would still not move

Nah, that would be a hard fork.

Litecoin is still #2 for me.

Ethereum has 1000 apps and yet I can't find one that is actually being used or that I find useful.

What is needed right now is stability and possibly Segwit and one day people will return to Litecoin because it's not up it's own bum.

Hard and soft forks have to do with forward/backward compatibility.

Regardless of the mechanism of the fork, it does not necessarily follow that there will be 2 blockchains in the future, if that is what you mean. As long as consensus is reached, there could be one bitcoin blockchain with an inflationary supply beyond 21 million.

Litecoin is still #2 for me.

Ethereum has 1000 apps and yet I can't find one that is actually being used or that I find useful.

What is needed right now is stability and possibly Segwit and one day people will return to Litecoin because it's not up it's own bum.