Here are ArtForz's posts: https://bitcointalk.org/?action=profile;u=584;sa=showPostsIf people wanted to see his thoughts, go read his posts. And stop spreading FUD about Litecoin being GPU-mined from the start. Is it possible that it was? Sure, anything is possible. Just like it's possible that Satoshi was ASIC-mining bitcoins from the start and now actually owns 10 million bitcoins. |
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The only "problem" I see is that it hasn't been updated in months. I hadn't started litecoin in a couple months and there were barely any changes when I updated my source tree... Is https://github.com/litecoin-project/litecoin still current? Are there any plans to rebase to bitcoin 0.8? Yes, I plan to do that soon. Does it have a design flaw?
It isn't as much flaw as deception. Litecoin used the same scrypt parameters as Tenebrix. Artforz had gamed almost everyone involved in the scrypt()-based coins. He had choosen the set of parameters that made GPU mining possible, but made claims that the design is GPU-resistant. Then he proceeded to mine all the scrypt()-based coins (Tenebrix/Fairbrix/etc) on his GPU farm that was significantly more efficient than the CPU miners. Exactly. Scrypt-based mining is not bad but LTC is just a scam I for one, did not see anything suspicious going on when I launched Litecoin. If I remember correctly, at the start the network hashrate was comparable to about a few hundred CPUs mining and it slowly ramped up from there. If there were any GPUs mining at that time, the network hashrate would be a lot larger than just a few hundred CPUs equivalent. It's true that I probably should not have taken just ArtForz's word on how gpu-resistant scrypt was with those chosen params. But ArtForz was a very well respected member of the bitcoin community and seemed to know a lot about what he was doing... at least a lot more than me. And he has earned enough bitcoins from the early days, that stealing a ton of scrypt-based coins just seemed beneath him. Plus his reasoning for using scrypt with those parameters were posted months before Litecoin launched, and people have looked over his reasoning and no one came out and said anything against his reasonings. So no, LTC is not a scam. Do you consider bitcoin to be a scam? Satoshi designed it so that everyone can mine bitcoins and get in on the action. But now one ASIC is about a million times faster than your CPU at mining bitcoins. |
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As the creator of Fairbrix, I should chime in. First of all, Fairbrix is dead and I have abandoned it since launching Litecoin. Please DO NOT download any windows binaries and run them. They could actually steal real coins from your computer.
I'm going to lock this thread now.
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Did they even release the client or start up the network  May 10 long passed ! They will launch in 11 months. GET READY! May 10 is just three months away! Sorry... hard to resist.  |
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Looks good. I like the first design. Upload a 256x256 version and a 48x48 version.
Coblee, are you still working on Litecoin development? Yes, I am. I do really like this design and will incorporate it into the next release. Mjbmonetarymetals, will you release these designs into the public domain? |
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Looks good. I like the first design. Upload a 256x256 version and a 48x48 version.
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I submitted a pull request at https://github.com/pointbiz/bitaddress.org/pull/8 . (Edit: demo page at http://scintill.github.com/bitaddress.org-bip38.html ) I'm open to suggestions on improvements, or requests on other ways to package it up. The core code is pretty short and simple, but it depends on EC crypto, biginteger, AES, SHA256, scrypt, and Base58 coding, so could need some adjustment if anyone would like to use it outside of the bitaddress.org page. I may also release my scrypt code separately as it looks like there are no other browser-ready implementations. Please send the bounty to 1GSo3Z3fgsvUH6yKr6s8kJHMFDWvLEuXjs, and thank you! Congrats, I was nearly done but had some annoying bug left. I'll check performance in firefox and see if my code happens to do better though. (Unlikely though if your scrypt is also based on this one: https://github.com/cheongwy/node-scrypt-js) Yes, my scrypt is based on that, replacing the node module dependencies with Crypto-JS functions. I also used Web Workers to do 2 scrypt threads in parallel. Cool. How about also adding an option to bitaddress.org's paper wallet to allow generation of the encrypted private key and bitcoin address. I would even go so far as to not show the unencrypted version at all. |
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Ok folks, there's a few hold outs and they are going to be out of luck, since we can't wait forever. If you want to change your bitcoin address, send me the following:
Email address Old Address New address
I am going to populate everyone in the database and start payouts either this weekend or next week.
You should probably just pay the people that didn't respond at the btc address that Nefario gave you. |
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I really didn't keep much records. The only thing I used was the website for making payments and taking in deposits.
If you didn't keep records, how can you have been operating anything other than a scam from the outset? You've pretty much just admitted that you spent any funds which were in your wallet however you felt like spending them at the time and that you basically treated user deposits as your personal piggy-bank. I sent the btc to places I thought were going to bring a good return. So no this wasn't a scam. I got scammed and that is why I'm not able to return all the coins. How many coins do you owe? How many coins do you have with Pirate? You must know these 2 numbers. |
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Hashking's guaranteed and insured deposit = just like pirate's BTCST with the same risks and 1/4 of the rewards.
If you are interested in settling, I would ask you to come clean with your books.
How many coins did you take in and where did it all go? How much of it was a pass through to Pirate? How much of it is owed to you by other members? And who are those other people? How much of it went into purchase of mining hardware? What kind of mining hardware do you have?
I agree, to be able to steer towards a fair settlement I think a significant amount of transparency is vital. I really didn't keep much records. The only thing I used was the website for making payments and taking in deposits. You didn't keep records of how the money was used?!? You don't know who owes you what? How much did you have passed through to Pirate? If I were you, I'd post information about everyone that owes you money and try harder to get money back from them. You don't know how much of it was used to buy mining hardware? How many ghash do you have? Or did you actually just put all of it with Pirate? I think you need to be more open than just saying "I really didn't keep much records". |
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Hashking's guaranteed and insured deposit = just like pirate's BTCST with the same risks and 1/4 of the rewards.
If you are interested in settling, I would ask you to come clean with your books.
How many coins did you take in and where did it all go? How much of it was a pass through to Pirate? How much of it is owed to you by other members? And who are those other people? How much of it went into purchase of mining hardware? What kind of mining hardware do you have?
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Perhaps everyone could take a debt reduction of something "middle-ground", such as 30% debt. That would certainly make it more manageable, and is better than getting nothing and hk going into bankruptcy.
If everyone was willing on accepting around 30% of what is owed at current market I would be able to pay back in roughly 2-3 years. Lol. Can you comment on how a 100% guaranteed and insured deposit is now a 30% insured and returned in 3 years? I'm afraid people are going to come after your assets as those are what should be used to guarantee these deposits. |
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Can someone compare LTC to PPCoin for me? I dont understand PP coin, it seems like the more you hold it the more it's worth, so if the devs premined I rather not use it.
Look at charts on proofofstake.com People here claimed the dev had premined 10m+ and other crazy stuff, so I made a chart from block history, it's all a farce. As for 0.7.0, coblee is a good guy, and good dev imho, but hasnt posted here in over a month. I think he's too busy with other stuff. Maybe one of the other devs could branch it? Yeah, I've been busy. I will work on getting another Litecoin client released soon. Oh yeah, happy birthday to Litecoin! |
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I wouldn't sell any of my personal assets to cover any bitcoin losses. This is a business, it has failed. When businesses fail they shut down and usually nobody gets anything. I will continue to make payments from my bitcoin production and buy coins whenever I can. If people continue at act they way they are acting I will just walk away.
Hashking, I think you should reconsider this position. When you guarantee a deposit, you are basically guaranteeing it with your personal assets. Otherwise the guarantee makes no sense. And since you screwed up by putting deposited funds with Pirate, you should own up to the mistake and honor the guarantee by selling your personal assets to cover the loss. If you are already doing that to make good on your guarantee, please continue to do so. And thanks for trying to make things right. |
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Not yet  |
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