[ANN] LiteBar (LTB) - Reborn

[sigma2543]

Nothing to see here..move along please

There's a reason you're only a Jr. Member.

Spidersbox is one of the best devs in the game. This dude is everywhere!  

[Spidersbox]

Nothing to see here..move along please

There's a reason you're only a Jr. Member.

Spidersbox is one of the best devs in the game. This dude is everywhere!  

thank you, but I'm not the best - maybe the busiest though 

[Su100]

Anyone know what the issue is?
I just noticed that on Cryptopia

[Spidersbox]

I sent a ticket asking them if we (cryptopia and I) could work this out and keep litebar listed, but they haven't gotten back to me.
I only know of one person that had a problem with a withdrawal. the transaction never made it on to the chain.

Has anybody else had any problems with transfers??

I guess novaexchange will get a little busier.

[Su100]

Its actually something I have to agree with.

I have also noticed some coins are picking volume there.

I sent a ticket asking them if we (cryptopia and I) could work this out and keep litebar listed, but they haven't gotten back to me.
I only know of one person that had a problem with a withdrawal. the transaction never made it on to the chain.

Has anybody else had any problems with transfers??

I guess novaexchange will get a little busier.

[Spidersbox]

Litebar is just getting hammered by the profit switching pools.
They jump on with 1.5GH and drive the difficulty up, then they switch to something else.
With the difficulty being so high, the smaller pools have to work for 6 to 12 hours just to find one block.
That's 6 to 12 hours (some times more) that the blockchain doesn't move, causing havoc with people trying to move their litebars around.

I'm thinking of adding PoS (proof of stake) to litebar, so when the chain stops the pos transactions will keep the chain going.
A small pos amount like 6% annual should interest (ha-ha) people in keeping their wallets open to stake, but not add to much in cap growth, keeping the price from dropping.

Any body have any comments or suggestions regarding addind PoS, or the 6% annual idea ??

[legday]

I think PoS is good idea. It might be only way for this coin to survive

[CryptoTux]

Litebar is just getting hammered by the profit switching pools.
They jump on with 1.5GH and drive the difficulty up, then they switch to something else.
With the difficulty being so high, the smaller pools have to work for 6 to 12 hours just to find one block.
That's 6 to 12 hours (some times more) that the blockchain doesn't move, causing havoc with people trying to move their litebars around.

I'm thinking of adding PoS (proof of stake) to litebar, so when the chain stops the pos transactions will keep the chain going.
A small pos amount like 6% annual should interest (ha-ha) people in keeping their wallets open to stake, but not add to much in cap growth, keeping the price from dropping.

Any body have any comments or suggestions regarding addind PoS, or the 6% annual idea ??

I second the suggestion for adding POS to LiteBar, thus making it a hybrid cryptocurrency like BitBar. Personally, I think 6% is a reasonable annual interest rate. However, the following question arises: What should the minimum stake age be? BitBar has a minimum stake age of 30 days. However, seeing as LiteBar is supposed to be the silver counterpart to BitBar, I feel it should have a lower minimum stake age. Perhaps 7 or 14 days would be suitable as a minimum stake age should POS be added to LiteBar? I'd like to hear some thoughts on that aspect.

[Spidersbox]

Litebar is just getting hammered by the profit switching pools.
They jump on with 1.5GH and drive the difficulty up, then they switch to something else.
With the difficulty being so high, the smaller pools have to work for 6 to 12 hours just to find one block.
That's 6 to 12 hours (some times more) that the blockchain doesn't move, causing havoc with people trying to move their litebars around.

I'm thinking of adding PoS (proof of stake) to litebar, so when the chain stops the pos transactions will keep the chain going.
A small pos amount like 6% annual should interest (ha-ha) people in keeping their wallets open to stake, but not add to much in cap growth, keeping the price from dropping.

Any body have any comments or suggestions regarding addind PoS, or the 6% annual idea ??

I second the suggestion for adding POS to LiteBar, thus making it a hybrid cryptocurrency like BitBar. Personally, I think 6% is a reasonable annual interest rate. However, the following question arises: What should the minimum stake age be? BitBar has a minimum stake age of 30 days. However, seeing as LiteBar is supposed to be the silver counterpart to BitBar, I feel it should have a lower minimum stake age. Perhaps 7 or 14 days would be suitable as a minimum stake age should POS be added to LiteBar? I'd like to hear some thoughts on that aspect.

good point.
I haven't gotten to the part about stake age yet, was waiting to see how well PoS would be accepted.
 - it appears to be a go.
age should be fairly quick - it takes forever to stake on bitbar, and not to many people staking them - so not many pos blocks to move the chain.
keeping the chain moving is key here, as I think that it the major problem on Cryptopia (still haven't heard from them - but they are swamped right now)
I definitely don't want to flood the market with a bunch of 'free' coins.

what about 4 days ? too short ..
maybe 7 days then.

[Spidersbox]

wow.
LiteBar Network Hashrate: 2.20 TH/s

I hope they aren't planning on moving their LTB's anytime soon.
they jacked the difficulty up to 1,629.8466
nobody is going to be finding a block anytime soon - unless they can through 2 TH/s on it.

[Skyripper]

wow.
LiteBar Network Hashrate: 2.20 TH/s

I hope they aren't planning on moving their LTB's anytime soon.
they jacked the difficulty up to 1,629.8466
nobody is going to be finding a block anytime soon - unless they can through 2 TH/s on it.

What about BCH difficulty adjustment mechanism, can be the same implemented in LTB?

[Spidersbox]

wow.
LiteBar Network Hashrate: 2.20 TH/s

I hope they aren't planning on moving their LTB's anytime soon.
they jacked the difficulty up to 1,629.8466
nobody is going to be finding a block anytime soon - unless they can through 2 TH/s on it.

What about BCH difficulty adjustment mechanism, can be the same implemented in LTB?

It won't help if there is 2 TH one minute and 30 GH the next.
besides - the pool will just switch back and forth - buttheads.

edit: I should have mentioned that Litebar uses Kimoto Gravity Well

[Spidersbox]

Litebar trading is back on at Cryptopia   
(I'm still working on adding PoS)

[Mysticus]

Litebar trading is back on at Cryptopia   
(I'm still working on adding PoS)

Well done my friend  ,  if Litebar can stay on Cryptopia it is very good news indeed, as it has become one of the major reputable exchanges.

The transaction issues Cryptopia reported having, I wonder if it had anything to do with these weird occurrences reported in the past:

I just tried to send my whole balance to myself and an error message showed up saying the transaction was canceled. lol

I sent 20LTB to myself and it appears as if there was no tx fee.

I attempted to send 1000LTB and received the message saying it was too large and that it would cost 0.058LTB to send it. I canceled it but we know how much per 1000LTB now

from what I can tell tx are free under 200LTB SOMETIMES...weird. I can send 200ltb and sometimes it'll charge a tx and sometimes it doesn't. If I move 1000 it seems to always charge a tx fee and if I try to move 2000 or more I get an error that says the tx was canceled.

On another note is it somewhat concerning that two thirds of all Litebars are secluded in one single address?  The distribution wasn't so heavily concentrated a few months ago, as if someone is focused on eating all Litebars available on the market.  Does this situation have possible network implications/effects to consider in the setup of POS?

[Spidersbox]

On another note is it somewhat concerning that two thirds of all Litebars are secluded in one single address?  The distribution wasn't so heavily concentrated a few months ago, as if someone is focused on eating all Litebars available on the market.  Does this situation have possible network implications/effects to consider in the setup of POS?

Yes I know how has that address - he also has the top address for bitbar, and quite a few other cryptos - he likes to corner the markets 
He also likes to stake - which will have a positive effect for the network.

[Spidersbox]

what is bad for the network are the people throwing huge hash on a pool, jacking the difficulty way up - then stopping(switching to a different crypto)
the hash rate was over 12 GH/s (12000 MH/s)and I only have 60 MH/s - it will take a very long time for the chain to start moving again.
I hope they understand it's their fault they can't move their litebars.

[Spidersbox]

updated the LiteBar wallet - it is an optional upgrade

added the ability to use a bootstap.dat file
added check/repair wallet
added zapwallettxes

and for the upcoming addition of PoS - added coin control

github repo is updated - including the download links
http://Litebar.co is updated with the new links, under the download tab

macOS wallet is not updated yet.

[Spidersbox]

my dns server is down.
I won't be able to get to it for about 10 hours.
You won't be able to get to the web site or block explorer.

[Spidersbox]

server is back up but it's under a DDos attack.
guess they couldn't think of a better target. 

[userpike0]

I definitely agree that going forward with pos is a good idea. It seems like many coins that are higher in value are pos or partly anyway. How will you structure the way it stakes?