Bitcoin Forum

For those of you who insistently believe that your words and 'suposed' critisms of the Litecoin network are getting through to any of us miners, wake up and smell the coffee. All the threats and critisms that you have raised in previous posts are falling on deaf ears... all of these are nothing new and problems that were initially faced on the uptake of bitcoin. Those who do slag off the currency are blatenly trying to maintain their precious investments in the bitcoin value and see litecoin as a threat. In fact ltc is meant to compliment bitcoin, so in actual fact if they were to mine it and get something out of it i think their views would change.

For those who want to know, NO I am not a litecoin founder, NO I do not run a pool or website affiliated to Litecoin. YES I am mining litecoin and have pumped alot of my own cash into the value, YES I also mine bitcoin, YES I believe the future of Litecoin is going to be good and Yes within time bitcoin will lose alot of miners as they switch to litecoin as its just become more profitable. Ive been around with a some good hash power since the early days of bitcoin and litcoin so I think my views are both unbiased and represent alot of people I know who both mine and invest in coins.

If you got beefs.... go home to your momma and weep to her!

Big up all the litecoin founders, btc-e.com, litecoinpool.org and certain individuals namely Coblee, TimothyA, Raido AbbeyTim and Pooler!

I've been slowly mining LTC on an old spare PC. Not making alot. like 8 a day, and they really have no value to me, but I doubt Bitcoins had much values that early also. I like how LTC aims to the sliver, and BTC is like gold. Will be interesting to see how it works out. LTC is the only alternate crypto currency that looks good.  I still plan to use BTC. I'm more of just watching LTC. I hope the value raises!

+1 mate! your are so right!

but for some reason you should not do
i mean, yeah,  thumps up for them! but you should know who take really do some for LTC, i'm not saying that my name should be there.
but i'm saying some are also doing alot for LTC, much more then some of the names ^

but i really like your post!

no hard ferlings mate !

Ahhh dont get me wrong I know there would be more people than I can mention who need applause. Im just reffering to those who made my experience good, who gave advice for free and have in no sense ever tried anything devious with LTC. Thanks for the replies though guys, lets hope ltc continues strong!

Don't you have over a million LTC

Just saiyan

I'll try to speak for a common type of Bitcoin user. We don't hate Litecoin. Just saying at times that it is similar enough to Bitcoin that is might cause a natural monopoly conflict between the two, and Bitcoin is strongly favored because of its more mature market. If Bitcoin weren't there, I'd come over, but Litecoin is late to the party with little fundamental fixes. I might be more in favor if the minting cuts had been cut (huhahaha I'm a word genius!!!!111oneeleven) so there is no final deflation through coin losses, but it hasn't been proven better, so nobody cares much.

But if you make it, well, win for you, short-term loss for me. I'm fine as long as one of the projects makes it, so I get a sound cryptocurrency to play with. :)

For what it's worth, LTC is the best Bitcoin fork I know of.

I agree, I think we should be done with the bitcoin community. They are obviously a bunch of fools. We should embrace the goodness that is Litecoin, a much purer cryptocurrency which doesnt have a huge early adopter advantage and so is more fair. Infact, we should probably integrate a feature in the litecoin client where it blocks anyone who has Bitcoin running or owns any bitcoin addresses! :)

Cryptowar for the future!!! Rawr!

I do have some litecoins too in addition to bitcoin. However, are you drunk or high on something?

I still support bitcoin, just I think having a choice between coke and pepsi or myspace and facebook is a good thing ultimately.

 ;D

I'm only here for the twats 8)

I bought some.  ;)  You never know.

Edit:  I think I made a bad choice.  Haha

I present the LTC pump and dump.  Well played, well played.

http://i45.tinypic.com/2vlsajq.png

The price went to hell.

Litecoin will have its day.  Unfortunately just not today.

+1

LTC had it's day, and it was almost literally a day.  RIP LTC.

LOL. Ahh time will tell...

Price spiked to close to 8cents per LTC. Last few rallies in USD in Feb hit 5 cents. I think we may see a stablizing of price then possibly a slower price increase.

The naysayers still have yet to present any real arguments against Litecoin other than "Bitcoin is just as good and works."

+1

I find it funny that bitcoin developers don't show support for alt-chains.

Only thing that gives reason to this would be how much of a stake they have already in bitcoin....i.e. money.

Once again it's about money...big surprise.

 ;D ;D ;D

I hear the client is trash. Haven't seen it first hand.

No, the market is much healthier now.  Mining is no longer 100% more profitable than bitcoin, the price is stabilizing and the network hash rate isn't going crazy but it is going up.  The most important thing is that the number of buy orders is still 1.4k BTC, almost as high as it was last week.  People are taking LTC more seriously now and want a bigger chunk of it if the price falls.  I expect the price will climb over the next 3 months slowly.

The client is just bitcoin-qt, same as regular bitcoin client more or less.

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Just like MySpace is so much more popular than Facebook bcuz it was the original? Lol

This chart reminds me of the Great Bitcoin Overshoot and Collapse of 2011.

Remember, when it went to liek $30 and then was stuck at $2 for months?

That is SO true. Just so long as we pretend that btc devs ignore Namecoin.  And didn't jump in to save it with merged mining when it was threatened with 51% attacks.

Yep.  Besides Namecoin, what you said is totally true.  Oh wait...

Myspace was a service not a commodity. Wrong analogy. If Myspace had launched an IPO and took their business model seriously, there may never have been a FaceBook IPO.

Oh so you're saying that it has to be a commodity in order for it to apply? How is being a commodity have anything to do with how YOU mentioning something being an original implies it will get more attention???

Wrong basis! lol  ;D ;D ;D ;D

You can't argue with that. I'm not hating on litecoin. The market cap on litecoin is fantastically successful. I can't wait until someone buys pizza with it! CPUs are here forever and computers will never change! Litecoin is AWESOME!!!!

It has been done already 2 weeks ago and pizza is very expensive now, around 100 usd the pizza at actual price...  https://bitcointalk.org/index.php?topic=90019.0

OK I'll stop the snark and I'm not against the idea of litecoin. I hope to learn more about it. Whether or not it's just another alternate crypcoin remains to be seen. The scrypt protocol seems secure, but I'm not so sure this won't have even greater obstacles to scalability in the future than Bitcoin due to the hardware requirements. A hardware based encryption seems like it it can be exploited by hardware manufacturers even more so than Bitcoin which uses a simple encryption method.

Already did it bro...I'm ahead of you like you don't know LOL!  ;D ;D ;D

https://bitcointalk.org/index.php?topic=90019.0

I am not a Litecoin hater. I just think it is irrelevant.

Uh, around here, Pepsi is much more popular as opposed to Coca Cola. While I for one would choose coke any day, you can almost never get it in restaurants or vending machines around here. But you can get Pepsi. The only places that sell coke are some gas stations and grocery stores.

Just saying. Maybe that's like the hole Bitcoin =  ASIC & Litecoin = GPU/CPU argument.

As a former Coca-Cola employee (a function head level) I am in position to tell you with some authority that you shall not assume that network effects of soft drinks and "currency" and "store of value" sectors are similar. You'd be a little more accurate if you have used Ebay and say ubid.com as your examples instead of Coca-Cola and Pepsi.

What exactly is irrelevant?

And who said there had to be any relevance to bitcoin?

Not relevance to Bitcoin, but relevance to any chances of litecoin's long term success.

You guys will not like what I say. Indeed, there likely will be a "silver" to Bitcoin's "gold" but it is not litecoin.

Of course, hashing  algo like scrypt(bcrypt(sha512(whirlpool(GOST(whatever(data+nonce...)+nonce)+nonce)+nonce)+nonce) would be a great thing to have. But this and some other minor tweaks are simply not enough to breach the network effect of Bitcoin.

The "silver" crypto currency  must be much more fundamentally different from Bitcoin and complimentary to Bitcoin at the same time to have any decent chances of success. Litecoin simply ain't it.

i agrees with Vladimir, im no litecoin hater, but i think that litecoin is irrelevant.

litecoin brings nothing ground breaking new to cryptocurrencies, and bitcoin have a much larger userbase then litecoin. namecoin is different then litecoin, as it brings something redically new: a distributed dns-like system. thats why namecoin might survive and litecoin will not. a namecoin clone that was cpu-mined and infaltonary, would also not survive, becuase we already have namecoin. if the namecoin clone came first, it would be that one that would survive.

one of the good thing with alt-chains, is that they are experimental, and they serves as a testing ground for new features(cpu-mining, 10s-blocks, infaltion/deflation, ...) for cryptocurrencies. but sadly that will all die at some point, because there are no need for them.

conclusion:
litecoin is late to the party. sorry mates.

I think that to let the monopol to BTC is dangerous making people dependent of only one cryptocurrency, and LTC could break the rule which is more good than bad IMO. Then I can understand big Bitcoin holder who fear for their investment but I'm sure LTC wont play on btc rates so no fear to have at end.

I disagree. Look at cars (ford, honda, toyota, ...etc.) as just one example of where your "theory" (because you nor no one else knows the future) is flawed.

Honda, Toyota, Mistubishi, Chevy, etc...took the same concept of an "automobile" and copied it and made it their own. Yes they aren't designed identically, but the idea is the same.

Just like pepsi and coke. Coke was first and pepsi came along and change a few things (since most of the ingredients is water)...and voila....success.

So no Vladimir, most of the time I am in agreement with you, but here I do not simply because your theory fails to hold up in real world examples that are plainly obvious.

I agree the price is still up more than $0.01 from before the rally and in litecoin terms that's a lot.

Ccorrect me if I'm wrong, heh. Scrypt is slow. It is way slower than BItcoin. It is also power intensive. It costs much more electricity than Bitcoin just to generate a hash. Are these facts correct?

Yes. And the difficulty is appropriately lower.

Does anyone knows if the following is true? (due to more complex hash algorithm in LTC)

BTGPU= Bitcoin hash power on the best ATI card valued in $X
LTGPU=Litecoin hash poher on the best ATI card valued in $X (Same investment as BTC)

BTASIC=Bitcoin hash power on ASIC valued in $X (same investments as in ATI cards)
LTASCI=Bitcoin hash power on ASIC valued in $X (same investments as in ATI cards)|

(BTGPU/BTASIC)>(LTGPU/ASIC)

I read that an ASIC to mine LTC would cost much more than BTC's ASIC. How much more? Why is that?


Thank you!

yeah, it cost much, because of LTC mining need high speed memory, BTC mining not... the hardware costs will be higher ? how much ? if it needs about 1G DDR3 ram, then it can cost about 10USD per memory more, and some memory controller is needes, may be about 25USD more in HW ? and some more time spent with writting code...

No rally this weekend. :( Well, so far there isn't.

Any used cars for sale?

I don't follow.

Well, quad channel DDR3 is maybe 68GB/s, and is about 1/4th the bandwidth of a 79xx series GPU...  A quad channel DDR3 controller would probably run about $30.  Let's say that it's an ASIC similar to the BFL labs one that does 800MH/s and could do 100KH/s if the RAM speed were not limited, but is limited by RAM speed/bandwidth to 1/4th that, so 250KH/s.  Now, quad channel RAM fully loaded (4x1GB DDR3 modules) with 4 sticks will probably run about 70W at 1.5v (given 6W per 0.25V from Tom's Hardware DDR3 1.25V vs 1.5V efficiency guide).  That's 70W + 80W = 150W, even without the additional wattage for a memory controller.  Corsair quotes 1.5V memory as using 11W per stick loaded, so where ever you get the number from, it's still not negligible.

250KH/s for 150W, while an undervolted 7970, without even optimized software, gets about 500KH/s at 125W neglecting the additional 100W or so for motherboard/RAM/etc.  Although there are a lot of assumptions here, it seems pretty clear that as long as LTC mining is bandwidth limited ASIC devices will be expensive compared to GPUs in both cost to buy and operate.

See https://bitcointalk.org/index.php?topic=3485.0
Its in the https://en.bitcoin.it/wiki/History
But really not that special, as I dont know if the car was sold for btc, so LTC make your move, make history.  :)

ill sell my audi s3 nagaro blue with chrome mirrors and fully kitted with a 4k sound system for offers. Its 2002 plate, very nice, very quick and handles like a beast

Accepting LTC offers?

 ;D ;D ;D

Is smoothie going on a litecoin roadtrip  :D

I will if I can come visit you in your country.

 ;D ;D ;D

OF COURSE BUT HAVE TO BE GOOD LOL!

Just like to say thanks to the OP. People like you paved the way.

Lol @ old 2012 posts with people mining 8 ltc/day on a old P4 system in their mom's basement

Needed to bump this.  :D

I just read the entire thread, Way to go OP. I think you should add yourself to the list as well :) The chart on the first page was extremely inspirational

Seriously this makes me wish I could go back in time, Quit my 60 hour a week job I was stuck in, and get on my computer

<<< Notice the gem ;)

Bump

do you accept Petro Points or Canadian Tire money ?

This deserves another bump just for giggles.  :D

you guys were so wrong....

Yup we were so wrong that litecoin was at $0.05 each and now $3.65 each.  ::)

I wonder hwy waking the dead is not illegal here.

lol. It's a joke.
I buy LTC now because the naysayers are always wrong. Mark my words: Litecoin will hit 100$ or more a coin within the next 2 years. Naysayers are left to eat dust.

Everybody should run LTC down to zero.   :D

Epic thread.

altcoins is dead, included litecoin. it's useless.

Cool story bro.

all peopel who get LTC now below 7-10USD will go rich sooner or later

Ok I'll play along again...
Everyone holding LTC sell nao or u will b sowwie!
Lose yo mahknee! ;D

Now is a great price in my view.

Quote this to he revisited in 24 months.

litecoin. lol
36...30...26...24...18....12.....9....5....3.... 2.5, soon 0.1

I see your PHD in economics has paid off well for you ;).

Hope youve dumped that shit by now or you better keep the car to live in

criticism

It went to 48, basically a max keiser pump. The true one is Bitcoin and some innovative apps on top of it benefiting Bitcoin

Litecoin will go up soon.

Ummm...not really no.

Its was because of Willy (the bot) and the inherent tie that Litecoin has to Bitcoin because of day traders.

Oh yes we should take what you say seriously given how long you have been around  ::)


Date Registered:   December 02, 2013, 03:31:49 PM


Lol

I just love the way that litecoin continually goes through these cycles where it slumps after a rally and everyone declares it dead, meanwhile it's getting bought up by the slightly more astute who will hold until the next run up. So damn simple and effective.