Silver as a commodity currency came about because it is impractical to make (with 1800s era technology) small gold coins. 1 gram of gold was roughly a day's wage in 1840. Imagine there was no silver or copper based currency. So you work a day and your employer gives you a gram coin. Now what. Your hungry and want a meal it will cost 1/20th of a gram of gold. Does anyone make 1/20th of gram gold coins? Are you going to break out your magnifying glass and knife to cut your 1 gram coin into 20 pieces.
Bitcoin isn't gold, Bitcoin doesn't suffer from the limitation of physical size. It is just as easy to spend 1/20th of a BTC as it is 1 BTC unlike spending 1 gram of gold or 1/20th a gram of gold.
Silver was used by the Romans and people before them. Who is to say we did not use gold because silver was too heavy/bulky? Hard to say what was first but it does not really matter. Anyway one day, if BTC really takes off, and there are really high fees for sending small amounts of BTC in transactions you might find LTC the "liter" and faster option. Are we there yet? Nope. Will we one day, I sure hope so, both for BTC and LTC. |
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Litecoin isn't a "scam" and the fact that (an unknown) someone claims it so doesn't have any relevance on Bitcoin.
Litecoin simply lacks innovation and has no purpose. It is too much a copy of Bitcoin to every grow to anything rivaling its big brother.
Exactly. It offers nothing new and changes the game in no way. Nor will it, ever. For me the goal of LTC was not to rival BTC but to be its silver, or if god forbid, take over for a dead/broken BTC. LTC clearly has a purpose and yes it does offer somethings that are new. Is it very different from BTC? Not massively, but is silver massively different from gold? Sure silver will not be worth as much as gold, (unless gold breaks somehow) but there is a place for both. |
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Advertisement: The money raised from these ads will be used to pay for improved forum software and other useful stuff.
This really should be updated to
Advertisement: The money raised from these ads will be used to pay for the moderation of the forum.
Unless I am just wrong.
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What are your thought about my leaving neg trust feedback to people who spam me with ads for things like scams and casinos?
Abuse of the system or cool?
Thanks.
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Ignore Channg Noi (Goat). I don't have to prove myself to him.
Which of the gadgets are you interested in?
You look trust worthy. I will send the item(s) to you first. And if your happy, send me the bitcoins. No escrow needs to be involved. Unless you want to? In which case I wouldn't cover any fees.
Shoot me a BTC offer for what you want.
This is what he sent me. Lol. See if he sends. Might as well if you do want one. He dud for a fact lie however. |
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There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA. If that happens LiteCoin provides no protection because it uses the exact same primitives. The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.
That last mess up that fork had nothing to do with encryption. Ltc did not have that code and could not break in that way. For 24 hours you could not use btc but i was able to use crypto coins with ltc. Having a backup is just smart. You are referring to the the db lock limit problem of mid-March which created a fork in Bitcoin that lasted only a few hours, not 24. At the time I was worried, like a lot of people were. Now, with hindsight, I think the fork was a major boost for Bitcoin. a) It proved to a lot of non-IT skeptics that Bitcoin is absolutely a legitimate, complex, technical enterprise. It is software reliably working for years at a time. This is the opposite of an empty ponzi or pyramid scheme. How many companies and governments have technical issues with software? All of them at one time or another. b) It proved that the major people involved in Bitcoin could work fast to restore normality. It means that any future problem could also be addressed, which actually happens for minor issues occasionally anyway. The price was at $47 when the fork happened, but within days shot up and we have not seen that level again. Litecoin is riding BTC's coat-tails, and I agree it is here for the long-run, might get some general acceptance, but also consider that it offers nothing much different. Yeah. I pretty much agree. But that does noy mean btc cant break for good and ltc is what some will use. I hold some ltc cuz i thought btc might break. Ltc was 5 cents then and over 2 dollars now. I must not be the only one. |
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Im not going to say what its value should be. Only its the best back up we have that i know of. If you know a better one please let me know. Btw paypal and ripple are not correct answers.
Check my sig, you'll find one right there.  Hey you are not in jail! Hows it going? |
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id report you guys for spamming but the mods wont dont do anything so welcome to my ignore.
Sorry - I'm not spamming on purpose...cloud mining really is fun. There's no cost to it. Back when I GPU mined. My miners would go down...then i have to go home and turn them back on or ask someone to do it for me. It would consume power.... and just eat up time. But with cloud mining, all that goes away!! I really am excited about it. It's actually done through GHash.io... so there seems to be a lot of GHS... and so far it's been good. It's also transferable so you can sell it whenever you feel like pulling out. Selling a miners on ebay is a pain...or selling it with bitcoin and dealing with scammers is also a pain. Escrows are useful and good...but if you forget to get tracking..the buyer can claim it never arrived and get the escrew back.... This is hands down, the easiest way to mine! Shil. Get your own thread. |
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Ah yes, that "currency" that is in a month long downtrend because it's coming down from being pumped since MtGox still hasn't implemented it. Truly not a scamcoin.  Im not going to say what its value should be. Only its the best back up we have that i know of. If you know a better one please let me know. Btw paypal and ripple are not correct answers. Also you make it sound like you dont think btc is a currency or that it is very different from btc. Odd. |
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There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA. If that happens LiteCoin provides no protection because it uses the exact same primitives. The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.
I think what this analysis fails to recognize is that could mess up in a way that was not fundamentally destructive to bitcoin but the markets could incorrectly PERCEIVE that it was and lead to a massive crash. Yeah that has only happened two dozen or so times. Markets crashing is simply wealth changing hands. You either buy, hold, or sell. For every loser there is a winner. Btc has not broken for more than a day. If that last fork took weeks to fix people would have had to move to ltc or go back to paypal. Can you at least read before responding? The quoted portion above is the post being responded to. See my response was directed at the post I quoted. I bolded the correlation if it helps. I did read it and your bolding that text does not make what i said wrong. Im on a phone and its a hit hard to deal with this formating. I quoted the wrong quote. Edit just assume i quoted the right part of your post and i can try to edit it later. |
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What merchant did you spend those LTC at?
Ltc and btc can be used for more than just trade for goods... The ltc was used as a down payment for a service from someone i was working with on a project. We would have done it in btc but btc was forked up... |
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There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA. If that happens LiteCoin provides no protection because it uses the exact same primitives. The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.
I think what this analysis fails to recognize is that could mess up in a way that was not fundamentally destructive to bitcoin but the markets could incorrectly PERCEIVE that it was and lead to a massive crash. Yeah that has only happened two dozen or so times. Markets crashing is simply wealth changing hands. You either buy, hold, or sell. For every loser there is a winner. Btc has not broken for more than a day. If that last fork took weeks to fix people would have had to move to ltc or go back to paypal. |
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There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA. If that happens LiteCoin provides no protection because it uses the exact same primitives. The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break. That last mess up that fork had nothing to do with encryption. Ltc did not have that code and could not break in that way. I never said it did but like "last time" any issue can be fixed baring a catastrophic break and if that happens since Litecoin is merely a shallow copy it will be equally destroyed. Of course pointing out that Litecoin is so under developed that it was using an antiquated db system as an advantage is somewhat hilarious. For 24 hours you could not use btc but i was able to use crypto coins with ltc. Which amounted to absolutely nothing. What merchant did you spend those LTC at? Having a backup is just smart.
Agreed but Litecoin isn't that backup. It is too similar, it provides no novel solutions to Bitcoin issues or weaknesses. If Bitcoin dies Litecoin is probably already circling the drain. Ltc is not just a copy. Ltc has its own dev team and is going in a different direction. I used ltc when btc was down but not to a merchant. Ltc is the best backup we have. If you find a better one ill sell some ltc and get that. I just love freemarket crypto not a ltc fanboy. |
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There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA. If that happens LiteCoin provides no protection because it uses the exact same primitives. The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.
That last mess up that fork had nothing to do with encryption. Ltc did not have that code and could not break in that way. For 24 hours you could not use btc but i was able to use crypto coins with ltc. Having a backup is just smart. |
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Litecoin isn't a "scam" and the fact that someone claims it so doesn't have any relevance on Bitcoin.
Litecoin simply lacks innovation and has no purpose. It is too much a copy of Bitcoin to every grow to anything rivaling its big brother.
I'm not sure it is trying to "rival" BTC. It is just trying to be better and safer. LTC never forked itself like BTC did. If one day they mess up again and we can't fix it, LTC is all we have. I just love crypto and want to have/use it no matter what so I hold both. |
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In 2 years Litecoin has gone from zero to over 2 USD a coin, with a total market cap pushing 50 million USD. Bitcoin cultists frequently describe Litecoin as a scam, despite the fact that it is basically a modest reengineering of the existing Bitcoin protocol.
Litecoin is most certainly a scam, but it is cut from the same cloth as a far bigger scam.
lol, thanks for that |
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id report you guys for spamming but the mods wont dont do anything so welcome to my ignore.
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And I can have 3 VIPs and 6 donors PM you vouching for me. I will not mention them in public.
Have them PM me as well, and I might be interested in buying your gadgets and gizmos. They don't know the guy, we already did this. Did you read the thread or the scammers thread? Or check is feedback? Or is this a joke that I don't get cuz Ive not had my coffee? |
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Anybody wanna sell 2 or 3 BTC for $180 a piece? I'll pay using PayPal. Thanks.
are you trying to scam? |
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Hi, I just want an "Info Card" that tells new people about Bitcoin. I want it to be business card size and have all sorts of info about BTC. Like a basic idea of what it is, link to bitcoin.org and whatever else.
I just need the design made public so we can all use it to print our own.
anyone who wants to add idea on what should be added please give us.
ill pay the .5 btc to the best design or break it up anyway i want.
this will run for at least 10 days from now.
thanks
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