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61  Alternate cryptocurrencies / Altcoin Discussion / Re: NXT, the ultimate SCAM, will it die because of 100% pre-mine given to 50 people? on: June 14, 2014, 06:22:09 PM
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....



I just want to bump this again.  Great post.  I give you a nod.  All are painful truths people here don't want to read about or admit. I guess we really are all dysfunctional.
62  Bitcoin / Bitcoin Discussion / Re: It's already 48%, No one care about Ghash? on: June 14, 2014, 06:09:20 PM
It was sooooooo weak that a hardware manufacture had to resolve this instead of the pool itself.  It really makes me have a lot less faith in bitcoin.  The pool should have just made a very small fee instead of charging 0.  That would have naturally reduced the share.  Instead the pool operators just kept on going.  Soooooo sad.
63  Bitcoin / Bitcoin Discussion / Re: Bitcoin Dev Sells 50% of his Bitcoin due to 51% threat. on: June 14, 2014, 02:44:43 PM
I wonder what he will buy with all that money?
64  Other / Beginners & Help / Re: 2FA - Print QR Code on: June 14, 2014, 02:36:36 PM
What if you took a screenshot from the PC and print it, am I wrong ?

Before I got Authy, I use to take a screen shot.  I would then encrypt the file with the picture in it and store it in multiple locations.  I had guessed that would work, but I didn't ever try it and so I can not confirm. 
65  Bitcoin / Bitcoin Discussion / Re: US Marshalls auction SilkRoad bitcoins on: June 14, 2014, 02:03:10 PM
I wouldn't be surprised if they go for higher than market and that if one person is able to get multiple blocks.  There are a lot of rich people that could put down a couple million and not even think about it.  This is a perfect chance for big money to come into bitcoin. 
66  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit on: June 14, 2014, 01:53:12 PM
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.

My impression of LTC just went up a level because you stopped by to clearly explain your position.  You made some very good points for people to consider.  If you can get Coinbase to accept Litecoin, I will reverse my decision and buy some.  Until then I will take a wait and see approach. 
67  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit on: June 14, 2014, 04:14:07 AM
One more post and I am gone for a while.

Here are the links.

LTC over all picture. http://www.cryptocoincharts.info/v2/coins/show/ltc
BTC-E breakdown: http://www.cryptocoincharts.info/v2/markets/show/btc-e
BTCChina breakdown: http://www.cryptocoincharts.info/v2/markets/show/btcchina
OkCoin breakdwon: http://www.cryptocoincharts.info/v2/markets/show/okcoin
Bter breakdown: http://www.cryptocoincharts.info/v2/markets/show/bter

You are right that in 3 out of 4 of these exchanges BTC is far and away more traded than LTC.  So generally it would seem that if these are honestly reflecting the market, that Chinese like BTC more.  

But if you look at OKCoin.  They only trade in LTC.  Unfortunately, like 80% of Litecoins assumed volume in the world is coming out of OKCoin.  Why would it be sooooo much bigger and powerful than the other other exchanges that offer even more options, I am not sure.   Undecided

So when I see LTC's traded volume for the day of 11,000, I am really thinking like 4,000 once the books are straightened out. I do think that this should have an effect on price if the liquidity of any coin is down 1/2 to 2/3 of what was actually being reported.  

4,000 BTC is still 10 times bigger than the next best thing, so LTC is still in a good position from that stance. 

But again, I think the biggest problem is that one of these big exchanges might pop because it has leveraged against itself, pulling a MT. Gox.  If they did, I think it would hurt the BTC market, but I think it could be much worse on LTC.  
68  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit on: June 14, 2014, 04:01:11 AM
Quote
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!"   Wink  You are very smart.  I am expecting!


Thanks for the compliment on the responses Smiley.


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 Wink.


Quote
I agree that so far there is no new good alt coin that has made things any more useable to Joe public.  They are mostly just clones plugging "innovation" but don't really do much more than Bitcoin when it comes down to it.  I would put Litecoin in that category too.  That is why it is not so interesting to me.  In fact, I would go as far as to say that Bitcoin is just barely being able to be used by Joe public as it is. 

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




I can respect that as an opinion even if it is not my stance.  You have your reasons and I get that. 

You could be right.  It is possible that Bobby Lee over spoke on the situation to drive traffic to his site as the "safe" option.  I personally don't think it is the case, but I can understand you not being swayed by his argument for this or other reasons. 


Look forward to more debates in the future.  Wink
69  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit on: June 13, 2014, 02:36:03 PM
Ok so lets start...




I stopped reading after this in your link

Quote
"The ASIC takeover may be the straw that breaks the camel's back for Litecoin, and it would only make sense that investors bruised by the experience would rush to something like Vertcoin. "

because you lack simple understanding that a stronger network and a historically strong coin are the two most important thing to investors. Much more fiat is being dumped into LTC in terms of asics, and this to me shows that there is much confidence with all types of "investors". This post along with the majority of this thread is a thinly disguised NXT pump up, nothing more.





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.

I think NXT had a horrible start too.  At first I was sad and mad I wasn't a part of it.  I just bought recently because I do believe in it.  It really seems to be adding and adding more and more features.  It started off very centralized, but because no new NXT can be created, it keeps on getting more and more decentralized.  So each big player in the beginning has less and less power day by day.  The big whales had no way they could unload all their NXT so they started giving it away as bounties.  They spent it on marketing.  They used it to build infrastructure.  The thing about only having 50 whales, they knew they had to do it, that nobody else would.  They also knew that if they didn't, their investment wouldn't be worth anything.  Since then, the whales realize they can make more money off of adding services and distributing the money than trying to pump it. 

Bitcoin/Litecoin on the other hand is kind of the opposite.  The big mining pools and big mining operations are getting more and more centralized and more and more powerful. 
70  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit on: June 13, 2014, 02:27:58 PM
Ok so lets start...

Quote
...

If Coinbase starts processing Litecoin, that would be a huge bump for Litecoin and in the short term Coinbase would make more money.  But in the long term they would be supporting a fractured economy.  I am pretty sure Coinbase wouldn't add Litecoin.  It goes against their goal of building a solid, unified, and fundamentally strong bitcoin ecosystem.  The last thing Coinbase wants to see is Bitcoin compromised.  

My guess is that they will add it when and only when it is a forgone conclusion that Litecoin is here to stay.  That simply isn't the case.  The price dropping and this thread is great proof of that.  

Under the hood Litecoin has some tech that is better than Bitcoin, buuuuuut it simply just doesn't have the wide spread adoption.  It is adoption and community that makes bitcoin valuable, not its hash or 10 minute block times verses 2.5 minutes.  

Also, the it is well known that all the Litecoin numbers out of China are totally faked.  They are straight up lying.  Charlie Lee has even openly admitted this.  So when you look at the charts and see great Litecoin volume and believe it and think that is an indicator of Litecoin's great success, you are sadly being scammed.  On top of that I am guessing the Litecoin bots in China make Willy and Marcus look like a joke.  Again, Charlie Lee has openly admitted it is a huge and openly known problem that China is scamming.  


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.


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!"   Wink  You are very smart.  I am expecting!

bump
71  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 11:18:48 AM
Can I be clear here?  Is this like a Mt. Gox that I don't have to trust with my money?  Is there anyway I could be using this service and get all my coins stolen?  Maybe not in the same way Gox stole, but maybe in a different way? 
72  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 11:12:43 AM
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  Grin

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/





Whooooooaaaaaa.  This is really happening?  That is like the axis mundi of crypto!  I mean really, people are talking about "anonymity" and I think that is important, but I would much rather see trustless exchanges in crypto.  (if that is really what this is)

It seems like there are a dozen or more anon coins out and a dozen more coming out, but only one coin is working on multigateway that I know of.

I have already invested everything I can afford to lose in NXT.  If it wasn't so, I would buy more!
73  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit on: June 13, 2014, 11:05:26 AM
I have gone back and read through this this thread and looked at which accounts have which opinion on Litecoin. 

A very interesting pattern emerges:

Old Forum User Accounts: Generally think Litecoin is here to stay.

New Forum User Accounts: Generally think Litecoin is going to be dead by the end of the year and (insert coin) is going to replace it any moment.  None of them can agree on which coin is about to be the new #2 though.


This just shows us that new people who missed getting Litecoin cheap wish it were not number two, were not here for the launch, and do not understand how established LTC truly is, they only talk about features, and are frankly projecting their desire to be made rich by (insert coin) into a prejudice against Litecoin.

Anyone else care to speculate why new accounts think Litecoin will die and old accounts think it will live?


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.

I agree that so far there is no new good alt coin that has made things any more useable to Joe public.  They are mostly just clones plugging "innovation" but don't really do much more than Bitcoin when it comes down to it.  I would put Litecoin in that category too.  That is why it is not so interesting to me.  In fact, I would go as far as to say that Bitcoin is just barely being able to be used by Joe public as it is. 
74  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 10:52:22 AM
You seem very knowledgeable.  Can I ask you something?  Or anybody else? My password is 34 characters long.  No dictionary words, no spaces, all more or less random numbers, letters, and symbols.  NXT says it needs to be 35 or longer I think.  Should I move the NXT to another account?  

If it's truly random, you are safe.
https://www.dropbox.com/s/syd8vwf31y90ev4/Passphrase_Length_vs_Complexity.xls

Shouldn't have to worry. The odds of a 34 character random password getting guessed are.... ~0
I think 35 was specified because most people don't use truly random passwords. Mine is 30 chars, generated like a Bitcoin mini private key. Working on the same principles, it will be the end of the universe before it's guessed by the fastest computer ever made.

Sorry I don't use Bitcoin often, is that the same as a Bitcoin address? A theft was carried out as someone used an old bitcoin address >>> Looks random but it wasn't, appeared in many google results.

Just checking  Grin


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


Thank you guys.  I appreciate it.  It would be impossible for the string to be in any dictionary or database.  It basically looks like this. InewnfeIePnfda232907523790573452$@ (not it of course or anything close actually)

I feel a lot more confident now.  Every time I saw that 35 character warning come up, I was a bit nervous. 
75  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NXT] Nxt - Official Thread on: June 13, 2014, 09:23:18 AM
Ugh... Are you kidding me? Are there bots prowling the network with a boatload of password-account combinations stored watching the for transactions to known addresses or something?

I got some NXT a long time ago and kept it tucked away, but with the updated client it seems I didn't have a public key, so I sent a message.. easy enough... my balance was there, but I couldn't forge because it was unconfirmed... so I figure this has something to do with old balances being 'unconfirmed' under the updated protocol until it's seen activity.. So I flip my NXT into another account that I used in the past (tx 3603756272827733121), wait for it to confirm, and as soon as it does the NXT has moved on to an account out of my control (tx 10738856805317237622)...!!!

WTF? I sat here waiting for a confirm to flip it right back, and it vanishes before my very eyes! We're talking within 2 seconds of the first confirmation!

If the network is this compromised, how do you ever expect mainstream adoption... I've had an eye on NXT since the beginning and was really into the new look and feel, the asset exchange, etc.. My interest was building in NXT again (initially less than impressed by the distribution, but it seemed a lot of great work had gone into the protocol..) Too bad.. Nxt looked cool, but as it stands I'm out.. Not sure that this can be called a 2nd generation crypto when it's this vulnerable to theft. I'd say the target audience is even more specialized than bitcoin; the average joe can hardly remember "Password1"!

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.

You seem very knowledgeable.  Can I ask you something?  Or anybody else? My password is 34 characters long.  No dictionary words, no spaces, all more or less random numbers, letters, and symbols.  NXT says it needs to be 35 or longer I think.  Should I move the NXT to another account? 
76  Other / Beginners & Help / Re: 2FA - Print QR Code on: June 13, 2014, 09:02:17 AM
Some people might not like Authy, but it gives me 2FA across multiple devices.  I feel a lot more secure knowing my 2FA is backed up. 

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!"

Your right.  But still... my password for coinbase is known only to me and isn't stored on my computer.  I am worried about somehow a hacker getting it through malware or some other clever hacker attack I can't see.

If I didn't have 2FA, then my money would be gone, just like that.   

But with 2FA through Authy, they have to hack my password, and then physically steal my phone.  I might not know that my password is compromised, but I will definitely notice if my phone goes missing. 

I will admit, it is not a perfect system and if I had millions of dollars in bitcoin instead of a couple of thousand, I wouldn't use it.  But for as little as I have, I am can feel safe.
77  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit on: June 13, 2014, 08:41:31 AM
Ok so lets start...

Quote
...

If Coinbase starts processing Litecoin, that would be a huge bump for Litecoin and in the short term Coinbase would make more money.  But in the long term they would be supporting a fractured economy.  I am pretty sure Coinbase wouldn't add Litecoin.  It goes against their goal of building a solid, unified, and fundamentally strong bitcoin ecosystem.  The last thing Coinbase wants to see is Bitcoin compromised.  

My guess is that they will add it when and only when it is a forgone conclusion that Litecoin is here to stay.  That simply isn't the case.  The price dropping and this thread is great proof of that.  

Under the hood Litecoin has some tech that is better than Bitcoin, buuuuuut it simply just doesn't have the wide spread adoption.  It is adoption and community that makes bitcoin valuable, not its hash or 10 minute block times verses 2.5 minutes.  

Also, the it is well known that all the Litecoin numbers out of China are totally faked.  They are straight up lying.  Charlie Lee has even openly admitted this.  So when you look at the charts and see great Litecoin volume and believe it and think that is an indicator of Litecoin's great success, you are sadly being scammed.  On top of that I am guessing the Litecoin bots in China make Willy and Marcus look like a joke.  Again, Charlie Lee has openly admitted it is a huge and openly known problem that China is scamming.  


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.


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!"   Wink  You are very smart.  I am expecting!
78  Other / Beginners & Help / Re: 2FA - Print QR Code on: June 13, 2014, 08:21:29 AM
Some people might not like Authy, but it gives me 2FA across multiple devices.  I feel a lot more secure knowing my 2FA is backed up. 
79  Bitcoin / Bitcoin Discussion / Re: US Marshalls auction SilkRoad bitcoins on: June 13, 2014, 08:05:21 AM
They are just auctioning off the small part of the bitcoins too.  The US will still have a huge stash. 

Does anyone think it is funny that in the movie the DPR would just be a pirate long enough to get rich and then he would retire and live a comfortable life.  Where as the Silkroad DPR just kept on going and going until he was the largest holder of bitcoins in the world (except Satoshi).  By then, yes, of course he would get caught. 

80  Bitcoin / Bitcoin Discussion / Re: It's already 48%, No one care about Ghash? on: June 13, 2014, 07:49:15 AM
Even if there is no problem this time, this will be more and more of a problem in the future.  It is sad to see something that was meant to be "decentralized" become so close to be centralized. 

I wonder if other methods other than PoW can and will be truly decentralized??

To me it is all about incentive.  Miners are being reward for becoming centralized and not processing transactions that are small.  That isn't a very well designed system for the future of money.
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