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541  Economy / Auctions / Re: Liteco.in domain on: July 14, 2012, 04:23:24 AM
It would be great if people would mention what they would do with the domain if they get it.
542  Alternate cryptocurrencies / Altcoin Discussion / [ANN] Litecoin v0.6.3 released! on: July 13, 2012, 09:10:43 PM
This brings Litecoin up-to-date with the latest Bitcoin fixes. Please update as soon as you can so that you are no longer vulnerable to new DoS attacks that were recently found.

Grab the source: https://github.com/litecoin-project/litecoin
Windows (zip): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-win32.zip
Windows (exe): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3b-win32-setup.exe
Linux (tgz, 32/64-bit): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-linux.tar.gz
Mac OS X: https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-macosx.dmg
543  Economy / Trading Discussion / Re: A public plea for help regarding Bitcoinica and my 24,841 BTC on: July 13, 2012, 08:48:51 PM
Roger, I'm sorry to hear of your loss. In the end, you can't really trust anyone else to keep your coins safe. Looking back, this answer was actually not very good:
https://bitcointalk.org/index.php?topic=63694.msg745976#msg745976
544  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: July 13, 2012, 07:22:34 PM
Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.

New clients are here!
Windows (zip): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-win32.zip
Windows (exe): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-win32-setup.exe
Linux (tgz, 32/64-bit): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-linux.tar.gz

Mac OS X: https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-macosx.dmg
545  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: July 13, 2012, 06:35:39 PM
In most places, i see bitcoin logo, instead of litecoin.

When you run setup.exe, it shows the bitcoin logo. That will be fixed. Where else are you seeing the bitcoin logo?
546  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: July 13, 2012, 06:24:41 PM
Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.

New clients are here!
Windows (zip): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-win32.zip
Windows (exe): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-win32-setup.exe
Linux (tgz, 32/64-bit): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-linux.tar.gz
547  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: July 12, 2012, 03:45:03 PM
The new code will have all the recent Bitcoin fixes.
The code doesn't seem to have changed the switch on times for BIP 16 and BIP 30 in main.cpp. This can cause issues depending on whether the new client or the old client has majority computing power and whether it hits this code. You might want to change the dates to a future time such that it turns on when it's likely more people are running the new code. You can convert the date formats at a site like http://www.convert-unix-time.com. Or have you turned off the relevant code somewhere else? If so, disregard :-)

Thanks. I will change those times to a future date.
548  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Litecoin - a lite version of Bitcoin. Launched! on: July 12, 2012, 11:09:49 AM
Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.

549  Alternate cryptocurrencies / Altcoin Discussion / Re: [DEAD] Coiledcoin - yet another cryptocurrency, but with OP_EVAL! on: July 11, 2012, 09:09:53 PM
As far as I know he switched to just plain old mining it. Using his pool's users' hashing power, of course.

-MarkM-


Probably didn't bother telling his miners though Wink

Yes, he used Eligius miners to merge mine this and killed it by rejecting any transactions. Not sure if he's still doing this.
He cannot perform the same attack on Litecoin, because Litecoin uses scrypt and cannot be merge mined with Bitcoin.
550  Economy / Securities / Re: [GLBSE] Pirate Pass Through Bonds! on: July 11, 2012, 08:45:11 PM
Yeah, actually if we can go back to the subject.
I don't think that this business will keep. Not at 1.04+
Despite of all the attacks I've had on me, I still believe that people are not that stupid Smiley

People are actually undervaluing the insurance. If you purchase bonds for 1.05, you are actually getting an effective interest rate better than investing directly with Pirate. I'm guessing you probably don't agree with the previous statement, but if you want to see the math behind it, read up on my posts around page 25 of this thread.
551  Economy / Securities / Re: [GLBSE] Pirate Pass Through Bonds! on: July 11, 2012, 06:01:43 PM
Sorry, but I don't think you understand what risk-free means. Whether or not they have made enough money to cover the insurance is besides the point. Is Apple's business now risk-free since they've made a boatload from ipods, iphones, and ipads?
And I don't think you understand what risk-free means.
I guess its a matter of language.
For me this investment is already risk free - I'm not going to admit that I was wrong stating this, because I wasn't.

You were actually just throwing FUD around. Sorry if most of us didn't appreciate you trying to enlighten us and save us from these PPT scammers. We are all adults here (well most of us), and we really are not as stupid as you think we are. If the price of PPT is too high for the insurance provided, we won't buy the bonds. There's no scamming going on around here. If the PPT owners need to raise the minimum price to stay profitable, then that's their prerogative. If you feel like the minimum price is too high, then you don't need to buy the bonds.

There are a lot of scams going on around these forums, but this is not one of them.
Of course I am not going to buy any more of these bonds - I wasn't waiting for your permission.

And are you saying that you are going to buy more of these overpriced bond?
Well, then enjoy the free insurance! Smiley

Thanks
552  Economy / Securities / Re: [GLBSE] Pirate Pass Through Bonds! on: July 11, 2012, 05:52:11 PM
So you are saying after weeks of operation, the people behind PPT could have made enough coins to now cover the insurance. How is that risk free? They are still using the profit they made to cover the insurance. Also you aren't taking opportunity cost into consideration when calculating their profit.
So how many risk-free weeks need to pass and how many more PPT.DIV stocks need to be sold, before you generously give me a right to say that the investment is already "risk-free" for the initial investors?
Is there such a number? Smiley

Sorry, but I don't think you understand what risk-free means. Whether or not they have made enough money to cover the insurance is besides the point. Is Apple's business now risk-free since they've made a boatload from ipods, iphones, and ipads?

You go from calling people liars to a hand wavy explanation about how you think it's possible that it's 100% risk free. I guess you will never admit you are wrong since there's always a way that you haven't figured out yet.

I did what was the right thing to do, and what nobody else wanted to do; explained to people what this business is about and that the initial investment has already been paid off, so decreasing the interest rates now because "we give free insurance" has no justification whatsoever. In fact, it's more of a scam - or just a lie, if you prefer calling it like this.

You are criticizing me for doing what I believed was right.
And what did you do in this time? Nothing. So spare mi your morals, because I don't need to be a genius like you to know that the best way to make no mistakes it just to do nothing.

You were actually just throwing FUD around. Sorry if most of us didn't appreciate you trying to enlighten us and save us from these PPT scammers. We are all adults here (well most of us), and we really are not as stupid as you think we are. If the price of PPT is too high for the insurance provided, we won't buy the bonds. There's no scamming going on around here. If the PPT owners need to raise the minimum price to stay profitable, then that's their prerogative. If you feel like the minimum price is too high, then you don't need to buy the bonds.

There are a lot of scams going on around these forums, but this is not one of them.
553  Economy / Securities / Re: [GLBSE] Pirate Pass Through Bonds! on: July 11, 2012, 05:22:08 PM
Your chart shows that you're using insurers initial investment to pay out 1310 on week 4 to pay them back and on week 5 for the investment that was never deposited for PPT.A on week 1.
You are right.
Sorry - my bad.
Thanks for picking that up.

But since the insurance exposes the investor to the risk for 4 times longer period, while insuring only 25% of his output capital, I believe there must be an algorithm to eventually make it 100% risk-free for the business owner. And I will figure it out... But now I just need to honestly admit that I haven't actually figured it out yet. And apologize you for doubting in what you were saying.

piotr_n, I think you are wrong here. The insurance is not an illusion. You really don't need to create a chart to understand. Just remember that you can't have your cake and eat it too. Either the funds are with pirate earning interest or they are sitting there waiting for a default. They can't be doing both at the same time. Each PPT bond is held for 4 weeks. So the funds need to be with Pirate to earn 4 weeks of interest. If that is the case then there is no mysterious pool of fund to pay for the interest when there is a default. If there's a default all funds from PPT bonds will be lost and the interest will need to come from somewhere else. There's no trick. The snake cannot survive by eating its own tail.

Please, have a look at this spreadsheet: https://docs.google.com/spreadsheet/ccc?key=0AjniD04O6MJndE9vX2MwSDdHTnZVVWdNLTRQRldyWUE

In the blue cells there is the actual data from the auctions. The content of purple cells is just my wild guess (it could as well have been played differently), but it gives an idea of how the business can eventually become 100% risk free, which happens at the price of receiving lower interest from the initial capital for the first 10 weeks while still exposing it at BS&T default. But please also note that the PPT.DIV shares were given to the PPT holders during week 5 and their market price ever since then hasn't been negligible.

So you are saying after weeks of operation, the people behind PPT could have made enough coins to now cover the insurance. How is that risk free? They are still using the profit they made to cover the insurance. Also you aren't taking opportunity cost into consideration when calculating their profit.

You go from calling people liars to a hand wavy explanation about how you think it's possible that it's 100% risk free. I guess you will never admit you are wrong since there's always a way that you haven't figured out yet.
554  Economy / Securities / Re: [GLBSE] Pirate Pass Through Bonds! on: July 11, 2012, 05:25:46 AM
Your chart shows that you're using insurers initial investment to pay out 1310 on week 4 to pay them back and on week 5 for the investment that was never deposited for PPT.A on week 1.
You are right.
Sorry - my bad.
Thanks for picking that up.

But since the insurance exposes the investor to the risk for 4 times longer period, while insuring only 25% of his output capital, I believe there must be an algorithm to eventually make it 100% risk-free for the business owner. And I will figure it out... But now I just need to honestly admit that I haven't actually figured it out yet. And apologize you for doubting in what you were saying.

piotr_n, I think you are wrong here. The insurance is not an illusion. You really don't need to create a chart to understand. Just remember that you can't have your cake and eat it too. Either the funds are with pirate earning interest or they are sitting there waiting for a default. They can't be doing both at the same time. Each PPT bond is held for 4 weeks. So the funds need to be with Pirate to earn 4 weeks of interest. If that is the case then there is no mysterious pool of fund to pay for the interest when there is a default. If there's a default all funds from PPT bonds will be lost and the interest will need to come from somewhere else. There's no trick. The snake cannot survive by eating its own tail.
555  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN] [LTC] litecoin.itzod.ru - LTC mining pool, RSMPPS with 0% fee on: July 10, 2012, 09:33:49 AM
Interesting to see a RSMPPS Litecoin pool!
I was the one that originally proposed RSMPPS here: https://bitcointalk.org/index.php?topic=27698.0
556  Alternate cryptocurrencies / Altcoin Discussion / Re: LTCPPT - Litecoin Pirate Pass Through on: July 09, 2012, 05:25:33 PM
First interest payments have gone out! Since I was able to get LTC pretty cheaply at 0.00164816, you guys got a great deal. Some of you got an effective 25% interest. Smiley
See ltcppt.com for details.
557  Alternate cryptocurrencies / Altcoin Discussion / Re: LTCPPT - Litecoin Pirate Pass Through on: July 08, 2012, 07:21:17 PM
It would be good if you had a website you could just visit and make a deposit.  It would also be good to be able to deposit down to 1BTC.

Eventually, I might have that. For now, please PM me if you'd like to deposit 50 btc or more.
558  Alternate cryptocurrencies / Altcoin Discussion / Re: LTCPPT - Litecoin Pirate Pass Through on: July 05, 2012, 06:28:07 PM
By the way, I'm not doing this for profit. The .5% fee is basically for my time and effort.

same as steve jobs, then.

he didn't do it for profit, he only got paid for his time and effort.

Well think of it as a non-profit organizations. The employees still get paid, right? Smiley
559  Alternate cryptocurrencies / Altcoin Discussion / Re: LTCPPT - Litecoin Pirate Pass Through on: July 05, 2012, 06:23:56 PM
Nice and honest answer. I like that.
To pay the interest, how many coins do you have to buy every week?

I just buy however much I need to pay for interest. So if you deposited 100 btc, then every week I send 6.5 btc to btc-e and buy litecoins throughout the week. I can figure out the average exchange rate based on how many litecoins I get.

Good news for this week is that I got the coins for an exchange rate of 0.00164816.
560  Alternate cryptocurrencies / Altcoin Discussion / Re: LTCPPT - Litecoin Pirate Pass Through on: July 05, 2012, 12:18:06 AM
So every week you get 4.5btc interest on your 100. That 4.5 is then converted to ltc at that days price and then given to the user. Is this correct?

Correct

Coblee, did you buy tons of Litecoins? All those huge buy orders took the price up on BTC-e.  It seems to be very profitable to get dirt cheap Litecoins, push the price up and pay interest in Litecoins.
Just wondering...

Same question here...

I've bought only enough to pay the interest payments next week. Not enough to push the price up. But I did buy them before the run-up, so depositors will likely get more litecoins next Monday compared to the current exchange rate.

I plan to buy litecoins through the week so as to get the best price and minimize a run-up on Mondays.

By the way, I'm not doing this for profit. The .5% fee is basically for my time and effort. Also as long as pirate does not default, then I'm guaranteeing your coins. So if my wallet gets hacked or if btc-e gets hacked, I will personally cover all the loses.
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