Discussion for LTC holders - Let's get coblee here too if possible.

[cryptohunter]

THIS THREAD IS FOR DISCUSSION OF FUND RAISING FOR LTC DEVELOPMENT ONLY. ANYTHING ELSE AND NON HELPFUL COMMENTS WILL BE DELETED.

Some one posted a link to the ltc reddit so I could have a read. It seems the devs had said on several occasions that there is just no funding for any big dev projects and progress is very slow due to this issue.


I saw someone suggest adding a small reward per block that could go to a fully transparent development wallet with full ledger accounting for spends.

I think this is quite essential now. I mean they have no funds and I see even the latest android wallet was not a great attempt. The ios wallet is not there yet.

Nobody even responded to that devs suggestion. I guess people don't like asking for funds for things. However, if there is a transparent ledger that would be totally acceptable to me.

What do others think about this? If you do not think it is a good idea please give your reasoning behind it.

You can not expect to compete against coins that have a large development fund if you have zero development funds yourself.

Let's also bring some core LTC devs to discuss this here.

Anyone have any way of contacting the core developers and getting them to discuss this idea?

[bitcoinlitcoinbtcltc]

I dont think coblee cares about Litecoin anymore.

[alyssa85]

I dont think coblee cares about Litecoin anymore.

This. The pro-hashing guy tried to get some development on LTC done too, but his stuff was ignored. That said, your best bet is to go to the LTC subreddit, and start a thread, because they key figures hang out there much more than they hang out here.

[r0ach]

Attempting to alter the block reward to redirect funds to some ambiguous 3rd party permanently would instantly kill the coin.  Want the price of LTC to go up?  Find a GPU algo to fork to that's speeded up by 2x or less on ASICs.

[cryptohunter]

I dont think coblee cares about Litecoin anymore.

Really I don't think that is true. I have just found the ltc reddit and coblee just been getting LTC added to the bitcoin atms.

Who is this LOSH? I see he looks like a vital part of the LTC team?

How can a coin the size of LTC not have the funds to get a perfectly working android and ios wallet out ?

Anyway just to go back on topic and to ask roach specifically why he thinks that it would kill LTC to have a development wallet funded from a small addition to the block rewards? or anyone else who thinks that would instantly kill LTC?

I mean you could be right since you understand all of this much more than me.

I'm just saying personally if there was a transparent wallet for development funds with a full ledger laid out for where the funds went and how they were spent. I wouldn't see a problem (until someone explains the negatives I am probably missing)

If it was controlled by coblee himself?

What if it was a temp measure for say the next 200k blocks and then went back to usual?

Why would that cause people to dump LTC if they could see those funds going directly to producing development LTC holders keep asking for but there is no available funds?

[r0ach]

I think LTC played an important role as an entry point into crypto for the masses until SHA256 is commoditized.  There is currently no real entry point to replace the role it played after LTC ASICs came out.  It would be beneficial to both Bitcoin and Litecoin if they changed the mining algo, as long as it was an algo that still keeps GPUs somewhat in the game if ASICs are developed instead of the situation now.

[Sumo]

It pumped for the halving. I think the market makers are just letting it cool down and consolidate. Give it time and Im sure you will see some new hype and rise in the price. This is time to stack your coins. I just got some more at 740.

[NattyLiteCoin]

I have donated to LTC development fund and still have faith on its stability alone that it will ride the crypto wave. An apparent roadmap is impending, which suggests that LTC dev is quite self sustaining. However, if the devs can't propose cost, schedule, performance I think it's going to be tough to get holders to blindly donate LTC to the cause. Unfortunately, I believe the LTC faithful are (or have to be) in an all-out trust mode that Charlie and Warren (via thrasher_au, _aspect, and losh11) know exactly what they're doing. If not, it could very well be a dwindling experiment which to me would be quite disappointing. I'm in a wait and see mode, I highly doubt my former statement is reality based of the infrastructure and trading volume LTC demands. While disappointed DASH's value is more than double, I'm not ready to abandon ship. A token that goes side ways in the midst of such large volume is not a bad thing; this trend like the mining shows solid stability.

I'll wait for the roadmap and proposals with cost and time attributed to them before I donate again. I've shipped off enough LTC and shall no begin to hoard.

[cryptohunter]

I have donated to LTC development fund and still have faith on its stability alone that it will ride the crypto wave. An apparent roadmap is impending, which suggests that LTC dev is quite self sustaining. However, if the devs can't propose cost, schedule, performance I think it's going to be tough to get holders to blindly donate LTC to the cause. Unfortunately, I believe the LTC faithful are (or have to be) in an all-out trust mode that Charlie and Warren (via thrasher_au, _aspect, and losh11) know exactly what they're doing. If not, it could very well be a dwindling experiment which to me would be quite disappointing. I'm in a wait and see mode, I highly doubt my former statement is reality based of the infrastructure and trading volume LTC demands. While disappointed DASH's value is more than double, I'm not ready to abandon ship. A token that goes side ways in the midst of such large volume is not a bad thing; this trend like the mining shows solid stability.

I'll wait for the roadmap and proposals with cost and time attributed to them before I donate again. I've shipped off enough LTC and shall no begin to hoard.

Would you not prefer to see a small reward per block go to a fully transparent dev wallet with full ledger regarding how funds are used? I think it would work better than donations in a way.

[NattyLiteCoin]

What I think you're suggesting is essentially augmenting the block reward. I don't think that's a good idea and doubt miners would mine on that chain if implemented. I like your altruism however.

[cryptohunter]

What I think you're suggesting is essentially augmenting the block reward. I don't think that's a good idea and doubt miners would mine on that chain if implemented. I like your altruism however.

Perhaps not so many people would consider it a good idea then
Shame to see them struggling around with no development funds though whilst other projects  just take huge % for themselves enabling lots of development.

It's a shame there is no voting process within the ltc wallet to see how popular and idea would be before implementation.

Their new road map does look at least like some new development will be taking place.

I think Coblee is still behind the project but like with btc things do move slowly compared to other alts.

[NattyLiteCoin]

An executable idea would be (a) reaching out to pools to increasing their fee and ensuring it would go to dev funds or (b) have active miners allocating some of their gear directly to a dev address. But without a plan, no one will subscribe.

As for "enhancements" even if prohash's proposal was implemented to leapfrog BTC tps issue, I'm not sure it would make a difference.

 Litecoin is stable.

[kelsey]

Would you not prefer to see a small reward per block go to a fully transparent dev wallet with full ledger regarding how funds are used? I think it would work better than donations in a way.

nope, worst idea ever   sounds like a bank. tis meant to be an alternative to the banks.

does really concern me with crypto across the board the mindset of everyone, seems everyone's forgetting the whole point of developing p2p currencies, and now its more about ROI, and who's getting paid 

the single most useful point in cryptos is being p2p currency that leaves the money changes out of the equation, without there basically is no point.

tis becoming just another banking platform.

the huge advantage in litecoin is no premine and one of the cleanest coin as in the dev didn't make it to make $$$$; colbee had seen the way the scene was going and all the coins launching where the devs get a cut and thought the only way to be successful was for the dev not to take a cut......and guess what?

HE WAS RIGHT.......schools out.

[cryptohunter]

Well, so far the idea does not seem to be going over well. I wouldn't mind but I see where others are coming from.

Although perhaps big LTC pools could reserve a small % for developers. Would be good to have a really nice android and ios wallet that worked perfectly well. However the current roadmap suggests they have all of that being worked on.

What about the road map ahead for 2016?

Any points you think look great or otherwise?

What does everyone think about the possible privacy measures hinted at?
Could that be a double edged sword for LTC. I mean could that stop LTC naturally getting adopted by places that adopt BTC?

The rest of the road map looks great. I'm all for privacy but then again if will hold back ltc from flowing naturally after BTC perhaps they should put that off for a while?

[NattyLiteCoin]

The best approach you could hope for is reaching out to /u/pooler from litecoinpool.org that currently boasts a 104% PPS. It's a big pool comprised of mostly USA and EURO supporters. You will get no response from the Chinese pools, who unfortunately account for over 80% of the current hashrate. litecoinpool.org would be the only pool of miners that MAY take less of a cut and have residuals funnelled to the LTC dev team and establish this ledger you envision. 

[cryptohunter]

The best approach you could hope for is reaching out to /u/pooler from litecoinpool.org that currently boasts a 104% PPS. It's a big pool comprised of mostly USA and EURO supporters. You will get no response from the Chinese pools, who unfortunately account for over 80% of the current hashrate. litecoinpool.org would be the only pool of miners that MAY take less of a cut and have residuals funnelled to the LTC dev team and establish this ledger you envision. 

Yeah, I hear you  on that. It's a shame the small % of each block going to the dev development pot isn't likely to be popular. It just seems fairer that all miners pay a tiny % toward the development. Especially if they are mining 80%.

ROI projects could work within the LTC community. It's just getting them organised and running them smoothly.

With LTC is just feels there is not much community considering it's size. The reddit is active(ish).
LTC works great though for the moment. Just would be nice to have a little more community and a little more developer involvement. You often find when there is an active dev team you get a more active community behind them.

Hopefully this year they will just keep it running solid and get the android and ios wallets working 100%. That's essentially what we need as a good base for adoption. Be good if that atm company does add LTC with BTC that charlie mentioned he had a meeting with.