Crazy_rabbit says TRC will avoid LTC's "mistakes"

[tacotime]

I see nothing to worry about as far as litecoin is concerned, because litecoin actually introduces something of value: an ASIC/FPGA resistant hash algorithm.

The problem with TRC is that regardless of your developer bounties or your support in updating to the latest port of bitcoin-qt, there's still nothing at all innovative about TRC.  Why SHA256 mine TRC when you can already SHA256 bitcoin itself, which has massive support?

So there's the problem with TRC: no novel core functionality to spur on its adoption or worth.  If you want me to I could make a Terracoin2 fork in three minutes by changing three lines (genesis block, block reward, and block time) in bitcoin-qt with I don't know, say 12.5 coins per block and an average block time of 7 minutes?  But, who cares?

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[markm]

If it was merged-mine-able I would add it to my merged-mining mix but since it is not it does not make sense to me to mine it instead of mining many coins at once (including bitcoin itself) with the same hashing-power.

-MarkM-

[crazy_rabbit]

I see nothing to worry about as far as litecoin is concerned, because litecoin actually introduces something of value: an ASIC/FPGA resistant hash algorithm.

The problem with TRC is that regardless of your developer bounties or your support in updating to the latest port of bitcoin-qt, there's still nothing at all innovative about TRC.  Why SHA256 mine TRC when you can already SHA256 bitcoin itself, which has massive support?

So there's the problem with TRC: no novel core functionality to spur on its adoption or worth.  If you want me to I could make a Terracoin2 fork in three minutes by changing three lines (genesis block, block reward, and block time) in bitcoin-qt with I don't know, say 12.5 coins per block and an average block time of 7 minutes?  But, who cares?

From the beginning I've mentioned that I liked TRC because of it's "test-net" qualities. I, along with a number of other people here have really learned, and continue to learn, a great deal about crypto, programming, github, linux, etc... thanks to playing with TRC.

Why not Bitcoin? Because Bitcoin is valuable and mistakes are costly. Not to mention that almost all the things an amateur/novice programmer can sink their teeth into have already been done, and done better. There is a greater sense of personal satisfaction in doing something first and being part of a small community that is growing at the same time.

Why not Bitcoin Testnet? Because testnet is a lonely place to be. People aren't really actively mining testnet coins, nor is anyone really very interested in testnet projects. To test things out- like shorter block intervals, or stuffing torrent links into the blockchain, or anything, it's funner and more rewarding if the coins are actually moving around- which with TRC they are.

Why not Litecoin? I've always been into litecoin, since the very start, and I'm still interested in it but I'm also running a real business that works with Bitcoin. TRC's simmilarity with BTC makes it more convenient to experiment and try things with TRC that if they work, I can then port without so much difficulty over to BTC. My Terrawallet.com is a perfect example. Would anyone dream of using a bitcoin ewallet that runs the bitcoin dameon on the server? Hell no. It would be like crime scene waiting to happen and no one would ever try it out. Instead work on it (with help!) for TRC and people like it and try it out. I learn along the way, I investigate the code, I try different things.

The insistance that an alt-coin has to be fundamentally different in order to exist is too narrow minded. Bitcoin is nearing a quarter billion dollar market cap. I'm not fooling anyone into thinking they are going to be TRC billionaires. My bounty campaigns give out generous numbers of coins to others who are liked minded, interested in the experience, those who appreciate the journey and not the destination. If I thought TRC would be worth $20 each one day, I would't be giving away thousands of them when I have to mine them myself (I have free Electricity and 3x 6950's hashing that paid for themselves with LTC) or buy them like everyone else on the exchange.

So that said, everyone should get on with their lives and their coin projects. The bitcoin community thinks this subforum a ghetto of stupidity as a whole, and it's not worth our effort to cannibalise each other.

[conspirosphere.tk]

My 2 satoshis as a last-arrived on the TRC scene:

I expect that once ASICs arrive many VGA miners will try to mine alt.coins instead of just giving up, and in so doing they will increase much some alt.networks hashrate (making it more safe and serious) and make some alt.coin scene livelier, so probably some alt.coin price higher. (This regards only alt.coins that cannot be merged-mined of course. Those who can be merged-mined will end in the hands of ASIC miners like BTC).

A problem with LTC is that they require different setups and use to overheat VGAs much more than BTC/TRC mining, so they don't seem so much appealing for the lot of vga miners.

On the opposite, TRC require no setup if you have a BTC rig ready, and they have some other nice aspect (fast block generation/ faster tx). Of course there are no barriers to make further BTC clones, but we will be grateful for that once TRC ASIC miners will come out.

[ShadowAlexey]

TRC  is trash, what is the point of it, it uses same confirmation algorithm? Currently BTC and LTC only. Hopefully when there would be BTC ASIC, we will see rise of LTC network.

[DryPowder]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

[ShadowAlexey]

It diesnt mater, it use script, as memory intensive algorithm, it obvious that memory algorithms might be implemented on gpu, how ever, there is no such big difference between gpu and cpu,as it is with bitcoin.
The only thing which might be good for cpu is where there is a lot of branching, I dont know any crypto algorithm that does that. And ASIC for litecoin will cost much more, because they will need a lot of local ram.

[DryPowder]

It diesnt mater, it use script, as memory intensive algorithm, it obvious that memory algorithms might be implemented on gpu, how ever, there is no such big difference between gpu and cpu,as it is with bitcoin.
The only thing which might be good for cpu is where there is a lot of branching, I dont know any crypto algorithm that does that. And ASIC for litecoin will cost much more, because they will need a lot of local ram.

It matter if you are hoarding (Investing) in LTC; The GPU factor gives to much velocity to the coin and generate BIG bubbles in the market, this is BAD for investing or commercial propose, as you see "NOW" the market is speaking about this factor, LTC is deflating fast and lost half his purchasing power, this piss off a lot of investors and obvious they sell off at the top of the bubble, including myself (A former big LTC miner and investor).  Lucky I sell off mi position @ .0078 and I buy real SILVER @ 26.70/Oz.
Don’t get me wrong, as I say I was a strong LTC supporter, but this issue gives me the creeps. 
 

[laSeek]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

[DryPowder]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

I’m not talking about technical issues, I’m talking about the economical fundaments based on CPU mining VS GPU mining and the impact on the coin in the market caused by this switch; LTC was designed to be mined by CPU in his fundaments.

[420]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

I’m not talking about technical issues, I’m talking about the economical fundaments based on CPU mining VS GPU mining and the impact on the coin in the market caused by this switch; LTC was designed to be mined by CPU in his fundaments.

I'm mining with my damn CPU

laSeek, explain the hardware scaling solution?

[abbeytim]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

I’m not talking about technical issues, I’m talking about the economical fundaments based on CPU mining VS GPU mining and the impact on the coin in the market caused by this switch; LTC was designed to be mined by CPU in his fundaments.

if I remember btc was designed for cpu too

but then artforz I believe was the first to gpu mine on it

[420]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

I’m not talking about technical issues, I’m talking about the economical fundaments based on CPU mining VS GPU mining and the impact on the coin in the market caused by this switch; LTC was designed to be mined by CPU in his fundaments.

if I remember btc was designed for cpu too

but then artforz I believe was the first to gpu mine on it

https://bitcointalk.org/index.php?topic=69357.0

[DryPowder]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

I’m not talking about technical issues, I’m talking about the economical fundaments based on CPU mining VS GPU mining and the impact on the coin in the market caused by this switch; LTC was designed to be mined by CPU in his fundaments.

if I remember btc was designed for cpu too

but then artforz I believe was the first to gpu mine on it

I know, i mine myself BTC with mi CPU but BTC is pioneer; When LTC born mining whit GPU are a possibility, still the developers decide that LTC will be mined by CPU … there is a fundamental reason for this, or not?

[DryPowder]

Fundaments are important and fundaments dictate that LTC was planned to be mined by CPU not by GPU, this is the worst error made by LTC developers, Period.   

It was designed to resist HW scaling - which it does - very well.
Anybody with just an inkling of how computers work understand that's it's virtually impossible to design an algo that cannot be scaled.

I’m not talking about technical issues, I’m talking about the economical fundaments based on CPU mining VS GPU mining and the impact on the coin in the market caused by this switch; LTC was designed to be mined by CPU in his fundaments.

I'm mining with my damn CPU

laSeek, explain the hardware scaling solution?

Yep, when LTC arrives i remember mining with my CPU, in solo mine I find multiple blocks; Now is nearly impossible to find a block whit a CPU.