I think doge shot itself in the foot by not hard capping/over printing at this stage....and the leader was a bit of a dick to Coblee

NXT has great attributes but screwed distribution.

LTC has a dwindling use case.

BTC nears 51%....wogatami and friends are funding a solution to this.

NEM's head shot its head off

Emunie is takeing quite some time to dev......those that did not understand self ejected

DRK is perhaps the most dubious being closed source and not really....also useless the use case for a DRK that actually works when BTC becomes 100% anon or the choice is there

Ripple shot itself in the XRP, by the ex CEO or something.

PeerCoin.....actually no drama, but will be better when cold locked minting.

On the plus side, the shear amount of energy in the crypto space, is makeing this all evolve so fast its hard to think of any development in any other field that comes close. At this rate both on the chip manufacturing side and software dev, its hard to see anything stopping the whole concept. In fact mining may be what keeps driving moores law longer than expected as a side effect....

What if you took a screenshot from the PC and print it, am I wrong ?

TheMage pointed me to this thread. I figure I should correct some facts.

Yes, it was my brother, Bobby, who claimed the most of the Chinese exchanges are faking their volume. Given the depth of the order books, it's very likely that this is the case. But this affects both Bitcoin and Litecoin. It may be true that it affects Litecoin more than Bitcoin as OKCoin's LTC volume is ridiculously high. And it looks like coinmarketcap.com's volume does not include OKCoin: http://coinmarketcap.com/volume.html#ltc

The reason why Litecoin's launch is fair is because it was publicly announced AND binary/source publicly distributed days before the launch. At launch time, almost everyone that cared about alt currency at that time was ready to mine litecoins the second I released the config params for the genesis block. So maybe Litecoin has a small instamine, but those instamined coins were distributed as fairly as possible at the time. Sadly, NONE of the copycat altcoins that came after Litecoin copied this critical feature of Litecoin. Most of these newer coins were launched to a small community or just the devs and were instamined by that small group. Others we premined.

And people like to spread FUD about the fact that someone was GPU mining litecoins at the start. A while ago, I did a difficulty analysis of the Litecoin start and showed that it was extremely unlikely that someone was GPU mining. The hashrate and subsequent increase matches the thousands of CPUs that were mining Litecoin at that time. If someone can find that thread, please post it here. I've said this many times, and I will state it again. I did not GPU mine Litecoin at the start and for that matter, I have NEVER GPU mined Litecoin at all. I did have 8 GPUs back then and was mining Bitcoin with it until I retired them early last year. Actually, if you want proof, you can ask Roger Ver. He was hosting my GPUs at his memorydealers warehouse. And I had them set up to mine bitcoins and left them there mining bitcoins and never touched them until 2013. And I don't have any vested interest in ASIC hardware. The reason for not switching PoW algorithm is because the risk of hard fork.

The reason why I chose Scrypt for Litecoin is more so because Litecoin needed to be mined by a different class of hardware than Bitcoin than it is because it was ASIC-resistant. I never believed Scrypt was ASIC-proof. The ASIC-resistancy was important though and it helped delay ASICs for as long as possible. The reason why that was important was because you need the coin's early miners to be as decentralized as possible. Why? Because in the beginning, the miners are the users. These will be the people that support the coin and help spread it. If the coin started with only 100 people able to mine it, then it won't go anywhere. As the coin matures (like Bitcoin and now Litecoin), the user base is no longer the same as the miner base. And having a more centralized miner base is not a big problem. Security of the coin is determined by how much money is spent protecting it. And ASICs helps with security because it makes it easy for people to pour a lot of money into mining hardware. But remember, centralization of miners does not mean the coin is centralized. The user base of the coin is still decentralized. If the miners decide to make a change in the software that people don't like, the majority of the user can choose to not accept the new version. Sure, with 51%, a miner can double spend his own transactions, reject other blocks, or do transaction withholding attacks, but it would be financial suicide to do that. So this is why I welcome Scrypt ASICs. I think the value of the security it brings outweighs the mining centralization that comes with ASICs.

So why is Litecoin valuable today? Here's what I think justifies Litecoin's maketcap and why it will stay #2 behind Bitcoin for the foreseeable future:

• Litecoin's trade volume dwarfs most other coins.
• Litecoin is supported by a huge number of exchanges. No other altcoin comes close.
• Like the comparison or not, Litecoin is silver to Bitcoin's gold. Having a cryptocurrency trading pair is important for arbitrage reasons. Litecoin is playing that role today. It's hard for another coin to take over that role.
• Litecoin is supported by payment processors like GoCoin and, if I can help it, Coinbase. Payment processors are critical in the path towards mass adoption.
• Litecoin is accepted by a huge amount of merchants. Look at http://coinmap.org/
• Litecoin has ATM support.
• Litecoin is protected by its own network of hardware dedicated to Scrypt mine. And Litecoin's hashrate dwarfs that of other Scrypt coins. The amount of money spent protecting Litecoin will increase substantially with Scrypt ASICs.
• Litecoin runs on well tested codebase. Because it is basically Bitcoin with a few changes.
• We have a great dev team and an awesome Litecoin association.

Some of the altcoins come close with respect to some of these points: nxt (devs, hardware), dark (trade volume), doge (merchant processor, atm, devs)
But no other coin really comes close to having all of these features.

And of course, Bitcoin is by far ahead of Litecoin. I never expected Litecoin to overtake Bitcoin. I always envisioned it as be used side by side with Bitcoin just like silver and gold. As we are already seeing, Bitcoin will not be able to handle all the transactions required for a global payment system. This is where I see alt currencies can help. You need other cryptocurrencies protected by different hardware networks to help with the transaction load. Naturally (because of the price of Bitcoin), the more expensive transactions will be on the Bitcoin network. It's more secure but it also has a higher fee. This will push cheaper transactions to other networks. I think there will be 3 currencies that will be used for 3 types of transactions: buying expensive things like houses/cars, buying gifts/meals/drinks, and microtransactions/tipping. And today, these 3 currencies will be Bitcoin, Litecoin, and Dogecoin.

Thanks for the compliment on the responses .


Ive seen that vid before I think, hence my last statement about agreeing with you about the fake data. Can't honestly say how much, but I doubt it's that much of a factor. At this point who knows. I do want to point out however the same fake volume was mostly referencing Bitcoin. I don't follow Chinese exchanges (because well, I dont speak Chinese), but dont most of them deal with BTC only?


Sorry about that, I was in a bad mood last night. And the other guys on here with the senseless drivel were becoming to much for me (not everyone here, the OP did produce some hard facts which I always appreciate during discussions). I would have replied sooner but you know, day job and family and all of that .



I really hope not! I want to see BTC and Crypto's succeed!

I stopped reading with this massively incorrect assessment.

You do realize I'm the author of this article, right?

http://www.devtome.com/doku.php?id=a_massive_investigation_of_instamines_and_fastmines_for_the_top_alt_coins

NXT gets some of the harshest treatment.

I'm willing to call spade a spade. I think NXT had a terribad start. Just straight fugly. But I can't deny that my premise of artifical price rising seems to be inaccurate as NXT is steadily rising. It's not acting like a pump and dump. I still maintain that the process of NXT be instantly valued 50x or more is shady as hell. But I don't hate on coins to justify my guesses.

I'm starting to come to the conclusion that it doesn't seem to matter too much what kind of start you have as long as you get past your starting point without crumbling.

Okay, I looked it up.  I was wrong and you were right.  Charlie Lee didn't say it.  His brother said it.  So when you forward my post to Charlie, go ahead and forward this link to him too.  It is his brother explaining the fake volumes in China on a youtube video covering Coin Summit.  Sooooo, yeah.... https://www.youtube.com/watch?v=2M12zzwNkCo&t=12m35s  He explains it in detail.

Otherwise, I commend you for your really long responses.  

Again, this video was made before Willy and Markus were known about and how exactly they crashed Gox.  Bobbie Lee is clearly explaining the same behavior going on like crazy in China and he also isn't happy about it.  Again.... Look at the numbers.  While there might be a ton of bag holders in the US holding Litecoin.  The volume is coming out of China.  I mean the fake volume.  http://www.cryptocoincharts.info/v2/coins/show/ltc

I have now posted two links proving my points.  

You are great at replying but when/if you respond, please don't respond with "I'm going to tell Bobby you said that!"     You are very smart.  I am expecting!

If someone ask a question that mentions the word "password" on a Nxt forum thread, it won't be long until Eadaqa appears with a very solid answer 

And if you want to test the crypto to crypto trading (Nxt Multigateway), here is a step by step guide on how to start testing: Go to  >>>> https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/

Their's the whole alt crowd who plug the whole innovation thing, yet all I see in these new coins in mostly innovation (and I use the term lightly) for the sake of innovation (ie just another theme to pump a coin on).

 I am yet to see a single so called innovation or 2nd or 3rd or 300th generation coin that makes them anymore useable to joe public.

34 random char  password is 5 trillion times stronger than bitcoin address which has 2^160 bits entropy.

The problem really is never length but predictability. If your long password is predicable (or in any kind of database or blochairn) it's a weak password

You should use 2 passwords. One that you save locally or on the cloud that has back ups and redundancies and that you dont actually memorize, and one that you do memorize and never save on any computer that touches the internet. Then simply concatenate the two passwords when entering your wallet. The first will protect you against rainbow tables (thats what got you) and the second will protect you against hackers. Its a pretty simple concept but it really should be spelled out, its certainly not peoples fault for not knowing this. Heck the client should even come with two password fields and concatenate them for people imo.

I don't like how when I sign into coinbase it automatically pops up on my phone. If a thief were to somehow get ahold of it, it's like having a guard dog say, "This way! the backdoors unlocked!"

Ok so lets start...



I'm pretty sure at some point in time they will add LTC, but not as soon as some of my fellow Litecoin community members may think. It's called Coinbase, not BTCbase. But ill leave it at that since you have your heart set on bashing LTC for fun and there is nothing I can say otherwise.

However it's pretty pathetic you quote Charlie as stating that he openingly admited to all LTC numbers out of China are faked, considering I talk to him semi regularly and I never known him to state this. As a matter of fact im going to link your post to him for you tonight since you love to quote him. Might as well hear it from the horses mouth right?

But, to a certain degree you are correct. There are some exchanges that are faking BTC data and LTC data. So if you are going to make somewhat of a statement, make sure you elaborate correctly.