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Chaang,
We made it pretty clear in the development fund thread, that the LTC received will be used in a responsible way. All the current LTC devs are in constant contact with each other. And we all have to agree to something before the funds are used. And every expense is laid out in the public.
There is no secret deal. We have not made any deals with anyone that would unfairly influence the direction of the project. Each one of us are adamant about this point. The large mysterious donor just wanted to help out our cause and did not want his identity known. Is that a crime? No. Does that mean he has a secret influence on us? No!
It is true that I was preoccupied with RL a year ago and let Litecoin development slip. Greedi took advantage of that and tried to claim himself to be the lead developer of Litecoin. I was not aware of that. Did he ask for donation and did you donate to him? I'm sorry for your lost LTC. But you could have easily done your due diligence before donating. I was still available via PM on bitcointalk. If I had received a PM from you saying that "Greedi is claiming to be the lead developer of Litecoin. Is that true?", I would have come back sooner to clean house. The second I found out Greedi was overstepping, I took cared of it.
If you wanted to donate to help improve Litecoin, then please donate to the development fund that all the LTC devs agreed to use. If you want to donate to a single person, feel free to do that in private. But publicly donating to 2 of the devs seems a bit manipulative. And that's why aspect called you out on it.
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Yes, they have 10 ltc behind a hologram just like the casascius coins. When it's announced, I'm sure someone will post the info here.
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Hi everyone,
After all this I have decided not to make the coins. I spent too much time organizing things and polling the public for their opinions, that it seems that someone else has beaten me to the punch and made their own physical Litecoins. This was a surprise to me, seeing as though this person never made an announcement or anything. I can't honestly take my investors money (over $10k) and use it on this project knowing that there will be competition and that his ROI will likely take a large hit. Believe me, no one is more upset with this turn of events than I am, I have spent over a thousand dollars on design and programming a custom program to generate/print addresses, and most of my free time the past few months has gone into planning or organizing some part of this.
Thank you all for your interest,
Ch
CoinHoarder, I'm sad to hear this. Would you reconsider? The other party seems to be making silver litecoins. I assume yours won't be silver so would be cheaper. Not everyone wants to pay the premium for a silver coin. So I'm sure you will have demand that's not met by these other coins. |
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They havent even started selling them yet.
Yeah, but I haven't even had mine made yet. There is about a 3 week lead time at the very least to go from a design to a product. Profit margins are so small for this type of thing, if there's competition I'll have to lower my prices and it's not worth my time. I make $40+/hr at my day job, I'm not going to work myself silly on this project for peanuts. I actually think I know who is making them by deducing several things because Coblee knows who it is already... this guy is on the Litecoin dev team so it would make since Coblee was aware he was making them. The guy offered to partner with me when I made my thread, but was going to make me sign a contract and pay for legal fees, etc., so I turned down his deal. I suppose maybe it is my fault, but if I partnered with everyone that asked to partner with me in this deal, I'd have 10 partners by now. Anyways, I guess I'll just go back to being a lowly miner... life is much less stressful that way anyways.  The person is not on the Litecoin dev team and is unrelated to us. I think you should continue with your coins. Yours is really promising too. There's definitely room for more than 1 physical litecoins. I'd buy both and I'm sure many people will too. So there's no need to have a price war. |
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It is for this reason that we are requesting donations to help fund this development work.
Do you accept Feathercoins? coblee is trying to be professional and kind, but let me translate : " we take only real coins here, we do not accept junk or monopoly money". What the problem with other coins? as long as you can trade them in some place (like crytsy or btc-e), the developer can change them for LTC or BTC. Having to accept each and every coin is going to waste a lot of our time. It would be better for the donator to convert the coins to LTC and then donate them to us. Thanks. |
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Looks nice, but if so, that 1/2 oz silver 10 LiteCoin round is still only worth 1/2 oz silver, about $10 -
If its current rate of 10 LTC =  at least. Not sure where you get $10. Current price of silver is $21.81 oz, So that half oz coin is worth $10.90, it dosent matter what it says on it, you can put anything you want on a silver coin, its easy to do and it dosent make it worth anymore, silver is silver. It would be stupid to pay $20 or $30 for a $10 piece of silver. I'm assuming that these will each be loaded with the private key to 10 LTC - like the Casascius Bitcoins. So $10.90 plus $23.79 plus premium to cover manufacturing costs and some profit for the guy making them. Gotta be looking at around 40 bucks each. Yea but when you go to sell them no one is going to pay that premium you spent, so your losing money on them.. They are strictly souvenir coins. A big enough company puts any design on a coin they want and sell them for pennies above spot... apmex.com - providentmetals.com - I am a gold and silver investor, I never buy anything with a premium, because your just losing money on it, but thats just me... Well if casascius silver coins are any indication, you are wrong. When those first came out, it cost about $80. About 10 bitcoins at $4 each + 1oz silver at $30 + $10 premium. Check out how much they went for on ebay recently: http://www.ebay.com/sch/i.html?_sop=13&_from=R40&_sacat=0&LH_Complete=1&_nkw=casascius+silver&LH_Complete=1&LH_Sold=1&rt=ncGranted btc price is >$100 now, but the premium on these are still huge. |
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It is for this reason that we are requesting donations to help fund this development work.
Do you accept Feathercoins? Sorry, just bitcoins and litecoins. |
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I know for a fact that these physical litecoins are for real. These have been in the works for months now. No, I didn't create them, but I know the person who did.
I was expecting a full announcement from him soon and I can't wait to purchase a few.
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I built the Litecoin Mac client.
Hmm. Any interest in building A Worldcoin Mac client?  For us with a couple of year old macs? Maybe so good that Worldcoin actually adops it. Maybe even they give u some coins for it.  Not interested. Busy with Litecoin development. Sorry. |
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Litecoin Dev Team has awarded a 200 LTC donation to forrestv for his current redesign of p2pool. A future update to p2pool will hardfork their sharechain to increase the minimum size of dust. This is important to the long-term health of the network, and it helps to reduce fees in combining p2pool dust for the miners. Thank you forrestv! https://plus.google.com/104307324656397909502/postsPlease follow us on Google+ for the latest dev team news. Is this the good news we were waiting for? Also why don't you just eliminate transaction fees for the next few years? There will still be plenty of miners competing for the LTC prize. more than enough hash power to secure the network The good news is the 5000 LTC matching donation. See Warren's post a few posts above. Transaction fees are not just for paying miners. They are also used for transaction spam prevention. If we eliminate the transaction fees, then a spammer can bloat our blockchain by sending a 0.00000001 LTC to a million addresses and only spend 0.01 LTC. |
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I built the Litecoin Mac client.
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This thread is stickied? Why? Will every alt coin get a sticky if they make a development fundraising request? If not, why is a moderator deciding which coin who they may have a personal stake in is "worthy" of having a sticky?
I actually hold LTC.
I stickied it, because they asked nicely. I tend to sticky anything that is somewhat important temporarily of course, I'm using my own discretion as to what is important, but if you have noticed, I've stickied about 10 different threads for different coin types. I guess I gauge importance by 1) Effect on users if it is not seen 2) Will it create any disruption if it is stickied 3) Was the request a, "could you please sticky this because..." or was it a, "hey mang, sticky this ploxorz" and again, my own digression. It will be unstickied sooner or later, so relax, I'd do it for whatever coin or coins you are supporting as well. Also, by the way, the thread was unstickied by request of the person who requested it be stickied in the first place. Technically, I could really be as biased towards any coin as I wished, as there aren't really any rules expressed by the forums saying otherwise. But, I feel I'm a reasonably fair guy so I give every coin a fair enough chance, as long as it isn't a secret wallet stealer or something like that. Thanks for the explanation SaltySpitoon. I think your ability to be fair is commendable, and yet you still get called out for being biased. |
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While a coin needs a good development team to get it going, it needs a reason to stay around in order to have real staying power. None of the clone coins have such a reason, so they eventually die out (after the inevitable pump and dump). Coins like litecoin, devcoin, ppcoin, and namecoin were unique enough to gain the critical mass that allowed them to survive.
There's nothing but cosmetics original in Litecoin. If originality is the only thing required for coin to survive Litecoin would die week after it's creation. It's a copy of Tenebrix who was real innovation but failed due to, even I must say it, excessive premine, and Fairbrix who was also Tenebrix copy, not premined one but failed due to attacks and some bad coding.. Make a look at it's original thread and you'll see no difference than with any of last few weeks releases. People saying it's pointless, doesn't bring anything new,etc, etc.. it was just launched at real time and somehow everything kicked good for it. Litecoin wasn't original similar to how Microsoft Windows wasn't original. I took all the innovations (Solidcoin's fast transaction time, Tenebrix's scrypt), put it together without the baggage (Tenebrix's multicoin code, premines), picked a good and memorable name, and released it in a fair manner. The innovation is not any of the pieces by themselves but the package as a whole. It's not an accident that Litecoin is thriving and most of the alt coins before it are all dead. |
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Premining is never acceptable.* That's bullshit. If it is not acceptable for you, you don't deal with it and that's it. Developers should make money from creating coins, specially those that stay around and take care about it. Why the heck would a dev who accidentaly has one rig only finish with 20 times less coins than some gpu farm bully. It's not charity. If I'd create a new coin I'd premine nice amount of it or would take care that I bank from transaction fees. If some self-precious moaner wouldn't like it, well, let it be. Premine, premine, premine... most boring and twattish thing in crypto community. Can't stand "premine moaners" I disagree. How much work does it take to launch a new alt currency? It's not much, so why should the creator premine a bunch for himself? Why does he deserve it? One reason why I created Litecoin was because almost all the other alt coins before it had a large premine. The ONLY reason to premine a coin is if the creator is greedy and wants to strike it rich. If not, then he/she should just mine it themselves. If they really believed in the coin, they would accumulate coins by mining it the whole time and buying it on the exchanges, and then work hard to make the coin gain acceptance and gain in value. I spent very little time on the coding part when I created Litecoin. What I spent time on was on coming up with a process to launch the coin fairly. I also spent some time thinking of a good name for it. When it was released, I only had one CPU pointed at it, so I did not mine a lot of litecoins. And I've bought more litecoins than I have mined. That's because I believed in it and I worked hard to support it. So no, alt coins should not have a premine. If the developers truly believed in their coin, they would be a buyer and not a seller on the exchange. I will never support a coin with a premine. |
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can i send by BTCE code?
(these have less fees I think)
Sure, please PM me on btc-e. |
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I'm confused as to why there are donations needed for LTC development. If LTC is the "one true altcoin" and you guys (the devs) have been mining since release then you should have plenty of LTC sitting around to sell off and pay yourselves with.
Or have the devs cashed out all their coins for BTC and fiat already?
It's a legitimate question; if the devs are not invested in their own coin then why should the community believe in it? Is this why the coin has lost 30% of its value relative to BTC in the past month?
Since the beginning, there has been one dev (me) with some help from a few of people like pooler and fanquake. And as you can see work has been slow because I have another job and I'm doing this on my free time. To push things forward, I'd like to get more devs involved and that requires some funding to incentivize people to work on it. For example, Warren has done a tremendous job in leading the efforts to rebase our code to Bitcoin 0.8.2. He's new to Litecoin so he's not invested in the coin. So part of the funds will be used to both pay for his work and to get him invested in the coin. And part of the funds will be used to pay for the infrastructure and maintenance costs of serving the homepage, wiki, forum, explorers, dnsseeds, etc. I personally will not be accepting anything from the fund. All disbursements of this fund will be made public here: https://docs.google.com/spreadsheet/pub?key=0AnlrnfU-U6E-dFVuUnlfZUlqek9JbzlNYjVENWp3ZlE&gid=1If people think that we are already rich and just begging for more money, no one is forcing them to donate. But it is pretty clear that a lot of users want to give back to Litecoin development and have donated already. We will put these funds to good use. Thanks. |
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1btc coins sold out. I've also reduced the price for the 100 btc bar. And I can also sell that bar redeemed for 2 btc if there's any interest. The bar has a error series 1 hologram. There's only 130 of these bars ever made: http://casascius.appspot.com/group?type=3Out of those 130, it looks like there are only 57 bars that have the rare series 1 hologram like this one. It's truly a collector's item. I also figured out how rare BitBills are: 20BTC: 181 (132 intact) 10BTC: 143 (97 intact) 5BTC: 144 (107 intact) 1BTC: 589 (492 intact) |
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