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Sent 50 LTC reward:
michaelmclees - f5c13f042d1166cfa116934e0311ae4afaf7ecd4e548dd181e87283579ee0138
ElectricMucus - 92336a1b924b484f23e5922fc5ae146088d5cca50cc3d76904a5bccb14b07e89
BitcoinPorn - 6c69dc8267204a7cdbfdca9f9764bc1ad378a0c0d7fcdade18ccaac05e873272
pbj sammich - b0c62ec369abb1bd4a0de8bd1a6302eda19981a13d9415fd346971e52d2a56f8
kano - d245becc42c1f4330693f8057bb4158e0089eb8c1b7a5a806a2509f3b5442ba4
Matoking - 4da59f45dee163e31eee58ed93b57b3a6e845f3f5f804124846637735a55ab06
dvdrewritable - de599722ad56c9dcb719ec9334def9e4b613bffa9beb1b8899cfe605e8c2feae
chieffery - 96f610806451fe4a2ea510ca3a3f625a6fc41a36c2032342eee980b505e81645
EskimoBob - 74ac2e7479e75f9f412803b1a31001bf16b5d1b255e76ac656aeca4161f41746
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I haven't inferred coblee, that would be 'implied', only others can infer from my written words.  Fine. English is not my first language. Are you really going to attack my English? The algorithm is better because it brings equality to both CPU and GPU. Both are equally (close enough) efficient to mine SolidCoins, in essence we can take both GPU and CPU and neither loses the efficiency battle. If Bitcoin does collapse like many have predicted then some other p2p coin needs to take on the existing hardware infrastructure combined with making the "average joe" able to mine. That is where SolidCoin fits into the puzzle, offering the solution to all the existing mining problems and security issues of bitcoin.
Well, I don't believe Bitcoin will collapse. And Litecoin will do well alongside Bitcoin. SolidCoin being equally GPU-friendly doesn't really make it a better algorithm in my opinion. It's fine that you believe in bitcoin technology, but I'm not really sure of the point of litecoin then, it's just an experiment to help Bitcoin? Doesn't really seem like something which will stick around a long time if that's the case. As an advanced and experienced programmmer I've looked at bitcoin technology and realized it needed a significant change if big business and average joe is to adopt a currency of this type. I raised these questions with some bitcoin developers initially prior to starting SolidCoin. Of course on a Bitcoin forum the people here will believe Bitcoin is good enough, so there isn't much I can say to those people who have that faith. It's my opinion it isn't good enough, with SolidCoin now secure from the threats that Bitcoin isn't we can go to businesses and finally sell them a solution they may now consider taking.
Any altchain that is tied to the Bitcoin technology is in essence saying "Bitcoin is the real thing, don't take any notice of me". I'm not really sure why we need Litecoin when Bitcoin already offers what it has for the most part. You can say you're offering CPU mining or faster transactions, which is fine, but when you're just as vulnerable to the same threats I can't really see the difference.
But you are just exchanging Bitcoin threats for new threats. I don't see how that's better. I guess time will tell. I also don't really understand why these new chains are starting up with non developers leading them. One of the biggest reasons SolidCoin has achieved the success it has is because I'm working for free on it when normally I would be paid $150+/hour. People with my experience rarely work for free on projects, I'm doing it simply because I want a solution to this global banking bullshit we've all had to put up with for the last 100 years. I like the enthusiasm people like yourself put into projects but without the skills and experience I can't really see them going anywhere.
Hmm, let's see. $150+/hr means you earn >$312,000 a year. Damn, where can I find a job that pays me that much?! And please stop spreading FUD again when you don't know any better. I work for one of top 5 biggest tech companies as a software engineer for 10+ years making $180k a year. I don't know anyone that would call me a "non developer" or someone "without skills and experience." I'm also working on this for free, but you know you, on the other hand, are not working on this for free. If SolidCoin becomes big, you will make a lot of money since you pretty much have absolute control of SolidCoin. Even if you don't directly pilfer from the CPF, you can still make a lot of money taking advantage of your position. You may be "an advanced and experience programmer", but you really fail big time at PR. Like I've said before, your arrogant attitude is going to be the downfall of your project. One of the feature of Litecoin is that it has a lead developer that: - is not arrogant and works with and listens to advice from the community. - does not ban people on IRC/forum when they disagree with me. (don't believe me? come and chat at #litecoin. that's the only place we can chat since i'm banned on #solidcoin for asking too many hard questions about SC1.0) - believes in open source where others can help me spot bugs since no one (including an advanced and experience programmer like yourself) writes bug-free code. I believe there's something you can learn there. |
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CoinHunter, in your posts, you've inferred implied that SolidCoin's hashing algorithm is better than Scrypt and that's why coins based on Scrypt will likely die off. Can you tell me in what ways your algorithm is better?
EDITED: because CoinHunter felt like he needed to attack my English.
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CoinHunter, no you did not upset me with your opinion. I just hope that in the future if you are going to make a bold claim like "Litecoin is dying", please support with some facts.
To be honest, I'm not as against SolidCoin as a lot of people here. You've put in a lot of work into SolidCoin. I might not agree with your decision to keep things closed source, to have the CPF, and to have trusted arbiter nodes to solve the 51% problem, but I give you credit for trying something different. If anything comes out of all these alt currencies, it's that we are trying stuff that Bitcoin cannot to see if there are ways to improve on Bitcoin. And I really can't be sure that a centralized closed source solution will absolutely not work. I mean, just look at Microsoft. Their closed source crappy OS owns >90% of the market. So who knows. Like you said, time will tell.
Yeah I'm aware you obviously have pools and people just running mining clients, however only having 170 users running your client software would be a concern for me if I was overseeing your project. People still need to run the client to send funds and do other tasks like that right? Tenebrix had 280 before LTC came along and killed it, and you haven't reached those heights yet. But anyways, I'm not sure why you released a coin with so few changes over TBX especially when you've had time to do things. You are a programmer right? Yeah, it's only been a week. Obviously, Litecoin doesn't have many services yet. So there's less reason for people to keep the client running. I'm sure that number will grow. So right now, it doesn't concern me because the overall network hashrate has kept on growing steadily as you can see from this graph: http://litecoin.kicks-ass.org/graphs/graphs.htmlWhen we launched, it quickly reach 2.5 Mhash/s and last I checked, it was at 6.8 Mhash/s. There's obviously a lot of room to grow, but it seems very healthy to me. There's a good reason why Litecoin was released with just a few changes from Bitcoin. Unlike you, I actually believe in technology and economics behind Bitcoin. So I didn't want to change it too much and introduce issues like what Solidcoin 1.0 ran into. And I kept the Scrypt hashing algorithm because I didn't see a need to change it for the sake of changing it. Plus, being miner compatible with Tenebrix is a good thing for early adoption. If in the future there's a need to move away from Scrypt, I will consider it. |
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coblee, you should post YOUR favorite 3, and let us vote on those, make a poll
Sounds like a good idea. I will wait a bit and see what terrytibbs comes up with. And then I will pick 3 or so and set up a poll. |
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I'm sorry if I've upset you with my opinion. When litecoin launched I was looking at their nodes on irc to see how much uptake it got, it started off at 180 nodes. A week? later it's now 170.
Lol, you idiot. Ever hear of pools? Yeah, a lot of Litecoin miners started using pools almost right away. Litecoin already has 6 pools when it's only been around for a week. That's probably why you don't see an increase in the number of nodes. Unlike SolidCoin, people don't need to run the client to mine litecoins. (Let me know if I'm mistaken about that) And with 6 pools (looks like more than SolidCoin) supporting Litecoin in the first week, I'd say it's alive and kicking. I'm sorry if I've upset you with my opinion. When litecoin launched I was looking at their nodes on irc to see how much uptake it got, it started off at 180 nodes. A week? later it's now 170. So the number of people running your chain are shrinking, combined with it being based mostly on bitcoin technology and susceptible to attacks from individuals with limited investment is all reasons why I think litecoin will not succeed. I think LTC achieved one thing though, it killed off TBX which I think was a scam. So good work on that part.
To put it in comparison, SolidCoin peaked at 850 nodes on IRC and currently has 600. So yes we have also shrunk, but are currently 3.5 times larger than your chain and also have minipool features built into our client and thus have many non internet facing nodes (about double public visible, or around 1200-1300 in total).
I could be wrong about Litecoin only time well tell. Good luck anyhow.
CoinHunter, no you did not upset me with your opinion. I just hope that in the future if you are going to make a bold claim like "Litecoin is dying", please support with some facts. To be honest, I'm not as against SolidCoin as a lot of people here. You've put in a lot of work into SolidCoin. I might not agree with your decision to keep things closed source, to have the CPF, and to have trusted arbiter nodes to solve the 51% problem, but I give you credit for trying something different. If anything comes out of all these alt currencies, it's that we are trying stuff that Bitcoin cannot to see if there are ways to improve on Bitcoin. And I really can't be sure that a centralized closed source solution will absolutely not work. I mean, just look at Microsoft. Their closed source crappy OS owns >90% of the market. So who knows. Like you said, time will tell. |
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(I won't mention fairbrix/litecoin since they are both also dying and just copied tenebrix).
CoinHunter, I'm interested to see your hashing algorithm when your release your source, but please stop spreading FUD against Litecoin. How is Litecoin dying when the network hashrate has been increasing since launch? Just check http://litecoin.kicks-ass.org/graphs/graphs.html and http://allchains.info/ and see for yourself. If anything, SolidCoin's network hashrate has dropped from ~60Mhash/s to ~30Mhash/s and even then, I wouldn't go and claim that SolidCoin is dying. So please explain yourself or take your statement back. It's hard for people to respect you when you keep on spreading FUD on all the other coins. |
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 I yield my hat to Bitcoinporn, this looks awesome I now think his design should be chosen as the official Litecoin Logo. well done! Yeah, let's see if anyone can top that. Truly impressive. I wish I had that real Litecoin in my hands. |
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If you submitted an entry, please post your LTC address. Only serious entries only. Sent 50 LTC reward: michaelmclees - f5c13f042d1166cfa116934e0311ae4afaf7ecd4e548dd181e87283579ee0138 ElectricMucus - 92336a1b924b484f23e5922fc5ae146088d5cca50cc3d76904a5bccb14b07e89 BitcoinPorn - 6c69dc8267204a7cdbfdca9f9764bc1ad378a0c0d7fcdade18ccaac05e873272 pbj sammich - b0c62ec369abb1bd4a0de8bd1a6302eda19981a13d9415fd346971e52d2a56f8 kano - d245becc42c1f4330693f8057bb4158e0089eb8c1b7a5a806a2509f3b5442ba4 Matoking - 4da59f45dee163e31eee58ed93b57b3a6e845f3f5f804124846637735a55ab06 dvdrewritable - de599722ad56c9dcb719ec9334def9e4b613bffa9beb1b8899cfe605e8c2feae |
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Can we extend the timeframe for this?
We could. What are you thinking? I've asked some designers on here to take a stab at this, and I'd like to have another go myself. Sure, no problem. I will just wait until everyone's happy with their design. |
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I am so bored at work ....  Wow, cool! It's my new profile picture. Thanks! |
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Can we extend the timeframe for this?
We could. What are you thinking? |
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Yes, that's it. But do remember that you have to set this to switch over at a future block. Since it will cause previous diff changes to be incorrect. |
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Here you go!
Sent 50 LTC reward:
michaelmclees - f5c13f042d1166cfa116934e0311ae4afaf7ecd4e548dd181e87283579ee0138
ElectricMucus - 92336a1b924b484f23e5922fc5ae146088d5cca50cc3d76904a5bccb14b07e89
BitcoinPorn - 6c69dc8267204a7cdbfdca9f9764bc1ad378a0c0d7fcdade18ccaac05e873272
pbj sammich - b0c62ec369abb1bd4a0de8bd1a6302eda19981a13d9415fd346971e52d2a56f8
kano - d245becc42c1f4330693f8057bb4158e0089eb8c1b7a5a806a2509f3b5442ba4
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In 5 years the standard number of cores on an x86 CPU will probably be 32 and they will run at 6GHz+ on stock clocks... So it's probably irrelevant
Which brings us back to the original question, how come litecoin doesn't scale the processing power and memory usage over time. As CPUs get faster, they will be able to compute scrypt faster. So the difficulty will adjust accordingly. There's no need to scale the processing power and memory usage. The point of using scrypt is such that anyone can use their CPU to mine and won't be at an overewhelming disadvantage compared to people with GPU farms. And yes, Litecoin copied Tenebrix's Scrypt so that there's compatibility between miners. If in the future there's a real need to update it to keep things fair, we will consider it then. |
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How about 24 more hours and then I will decide.
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Sent reward:
michaelmclees - 50 LTC - f5c13f042d1166cfa116934e0311ae4afaf7ecd4e548dd181e87283579ee0138
ElectricMucus - 50 LTC - 92336a1b924b484f23e5922fc5ae146088d5cca50cc3d76904a5bccb14b07e89
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So is it now decided? Or is there a deadline? In case I would continue working on it if there are still chances  Well in case, kudos to Bitcoinporn, kano and everyone else... Oh here is my address: LaB285BicWixaVUEKXBiPhgDjZBUh8UQRG Still not decided yet, please keep working on it. |
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Since people are putting in so much effort, I've decided to up the rewards. With BTC being only $2 and LTC only 0.005 BTC, each LTC is only a penny. So I purchases quite a bit of LTC on btc-e. I will give out a 50 LTC for everyone who submits an entry. If you submitted an entry, post your LTC address, and I will send the coins. The winner get's 300 LTC (in addition to the 50 LTC). BitcoinPorn, I like your "7" a lot. It really gives the "lite" look I was looking for. And I like the this one the best. |
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