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Author Topic: That's the end of the altcoins glory?  (Read 2033 times)
ehoffman
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March 17, 2013, 07:04:19 PM
 #1

So, every altcoins seem to have had some glory lately, but now they all seem to go down in prices.  Even LTC is getting kicked Undecided

On the other hand, BTC seem to be ready to make a new run for it Smiley

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crazy_rabbit
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March 17, 2013, 07:06:50 PM
 #2

(Que Lion king music) ....THE CIRCLE OF LIFE!!!!!!!!!!

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March 17, 2013, 07:10:57 PM
 #3

makes sense... there is no point in doing the same thing twice (LTC)
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March 17, 2013, 07:14:25 PM
 #4

makes sense... there is no point in doing the same thing twice (LTC)

This is LOL.

Litecoin actually improves on Bitcoin, get your facts straight! It is not the "same thing twice" as you put it.  Roll Eyes Roll Eyes Roll Eyes Tongue

--Faster transactions
--Short term ASIC resistant (they wont come for a long time for LTC)
--fpgas will be here soon, further strengthening the network
--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already
--more stores and services opening up for LTC every day
--arguably/definitely the biggest community of ALT coin users to make things for it and improve upon it

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March 17, 2013, 07:24:19 PM
 #5

Litecoin is doing just fine. There is good reason to have a non-monopoly of cryptocurrency. Bitcoin is still king, though.

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March 17, 2013, 07:26:10 PM
 #6

Litecoin will prosper. There's not much room for another one, unless it's something innovative like PPCoin. Cheap knockoffs like TRC or NVC are ultimately destined for the scrapheap.

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Peter Lambert
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March 17, 2013, 07:27:50 PM
 #7

makes sense... there is no point in doing the same thing twice (LTC)

This is LOL.

Litecoin actually improves on Bitcoin, get your facts straight! It is not the "same thing twice" as you put it.  Roll Eyes Roll Eyes Roll Eyes Tongue

--Faster transactions  We changed a parameter or two in the software!
--Short term ASIC resistant (they wont come for a long time for LTC)  Mining is less effecient
--fpgas will be here soon, further strengthening the network  but it is improving
--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already
--more stores and services opening up for LTC every day
--arguably/definitely the biggest community of ALT coin users to make things for it and improve upon it  We're number one at being number two!

FIFY

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The best place for betting with bitcoin: BitBet.us
Jutarul
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March 17, 2013, 07:31:48 PM
 #8

--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already thus only 1 out of 2 people can perform a double spent attack
--more stores and services opening up for LTC every day including scam offerings

FIFY
completed

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March 17, 2013, 07:35:44 PM
 #9

Litecoin will prosper. There's not much room for another one, unless it's something innovative like PPCoin. Cheap knockoffs like TRC or NVC are ultimately destined for the scrapheap.

PPC is broken and centralized through checkpointing. Enough said.

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mr_random
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March 17, 2013, 07:39:52 PM
 #10

Litecoin will prosper. There's not much room for another one, unless it's something innovative like PPCoin. Cheap knockoffs like TRC or NVC are ultimately destined for the scrapheap.

PPC is broken and centralized through checkpointing. Enough said.

Nope not broken and no more centralized than Bitcoin. Next.

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Worldcore
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March 17, 2013, 07:43:20 PM
 #11

makes sense... there is no point in doing the same thing twice (LTC)

This is LOL.

Litecoin actually improves on Bitcoin, get your facts straight! It is not the "same thing twice" as you put it.  Roll Eyes Roll Eyes Roll Eyes Tongue

--Faster transactions  We changed a parameter or two in the software!
--Short term ASIC resistant (they wont come for a long time for LTC)  Mining is less effecient
--fpgas will be here soon, further strengthening the network  but it is improving
--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already
--more stores and services opening up for LTC every day
--arguably/definitely the biggest community of ALT coin users to make things for it and improve upon it  We're number one at being number two!

FIFY

--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already thus only 1 out of 2 people can perform a double spent attack
--more stores and services opening up for LTC every day including scam offerings

FIFY
completed

LOL. The Bitcoin Gang here to troll. I think everyone should read both sides of the story and not listen to Bitcoin trolls that are scared of a competing currency that is better (read: faster) than their own. It might deflate their large investments in Bitcoin in the coming years if Litecoin becomes more popular.

They are the wealthy elite and you know... wealthy elite type folks don't like to become part of the formerly wealthy elite.

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March 17, 2013, 07:46:21 PM
 #12

makes sense... there is no point in doing the same thing twice (LTC)

This is LOL.

Litecoin actually improves on Bitcoin, get your facts straight! It is not the "same thing twice" as you put it.  Roll Eyes Roll Eyes Roll Eyes Tongue

--Faster transactions  We changed a parameter or two in the software!
--Short term ASIC resistant (they wont come for a long time for LTC)  Mining is less effecient
--fpgas will be here soon, further strengthening the network  but it is improving
--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already
--more stores and services opening up for LTC every day
--arguably/definitely the biggest community of ALT coin users to make things for it and improve upon it  We're number one at being number two!

FIFY
makes sense... there is no point in doing the same thing twice (LTC)

This is LOL.

Litecoin actually improves on Bitcoin, get your facts straight! It is not the "same thing twice" as you put it.  Roll Eyes Roll Eyes Roll Eyes Tongue

--Faster transactions  We changed a parameter or two in the software!
--Short term ASIC resistant (they wont come for a long time for LTC)  Mining is less effecient
--fpgas will be here soon, further strengthening the network  but it is improving
--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already
--more stores and services opening up for LTC every day
--arguably/definitely the biggest community of ALT coin users to make things for it and improve upon it  We're number one at being number two!

FIFY

LOL. The Bitcoin Gang here to troll. I think everyone should read both sides of the story and not listen to Bitcoin trolls that are scared of a competing currency that is better (read: faster) than their own. It might deflate their large investments in Bitcoin in the coming years if Litecoin becomes more popular.

They are the wealthy elite and you know... wealthy elite type folks don't like to become part of the formerly wealthy elite.

Everyone has their own favourite coin/s and trolls any other coin as much as possible to put their own coin in a more favourable light. One has to read the cold hard facts and make their own decisions without being swayed by user bias.

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Worldcore
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March 17, 2013, 07:49:56 PM
 #13

Bitcoin faggits are just made cause they can't find the right config to mine sCrypt with their GPU's or FPGA's :trlf:


sCrypt dun like you!

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March 17, 2013, 08:15:18 PM
 #14


Sorry but i don't understand a few things.

First... Why is "ASIC Resistant" a good thing? As far as i know asics brings protection to the network, so when more hashing power the better for all of us. Because any average joe with a GPU can mine Litecoins efficiently and make decent money rather than making pennies on the BTC network. Eventually ASICs will come strengthening the LTC network, but like Bitcoin it will take a while to get there... Bitcoin did not have ASICs for the first 5 years of its existence either, and look at it now.

Second... Farster transactions will be coming at BTC too in a future once the block size will be increased, so it's not a concern. LTC transactions are faster RIGHT NOW! Also, LTC has the potential to be improved with even faster transactions than it has currently using similar methods that Bitcoin could increase its speeds, so that is a moot point.

I really can't see one single thing that LTC improves over Bitcoin, transactions may be faster (only the first) but it should change in a future and second is less secure, so what gives? It is also cheaper, making it easier for the average joe to buy more of. And I think it's good to have more than one peer to peer anonymous anti deflationatory crypto currency in existence. If anything should ever happen to Bitcoin, at least the technology will still be alive and hopefully thriving on ALT networks.

No ofence, i'm just trying to understand the value of it. As for now i only see all alternate cryptocurrencies a refugee from miners who can't compete on BTC and  want to speculate on a new chain, it's like a ponzi, they are all almost a carbon/copy of Bitcoin. People used to and still to this day call Bitcoin a ponzi/pyramid scheme. You can't excuse Bitcoin from the same mentality just because it's worth more, has more users, and uses. Like others have said, it is like the same thing- only faster (RIGHT NOW!). LTC's uses and adoption have been increasing at an exponential rate, just like Bitcoin did and really has a lot of potential to truly be the "Silver to Bitcoin's Gold." Some people just don't like that and call it a scam, the same way people that don't like Bitcoin call it a scam as well.



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March 17, 2013, 08:21:31 PM
 #15

Litecoin will prosper. There's not much room for another one, unless it's something innovative like PPCoin. Cheap knockoffs like TRC or NVC are ultimately destined for the scrapheap.

PPC is broken and centralized through checkpointing. Enough said.

Nope not broken and no more centralized than Bitcoin. Next.

Uhh just because you say it isnt centralized doesnt make it NOT CENTRALIZED.

Sunny King is creating checkpoints for the POS algorithm every 5 blocks (or so). THAT IS CENTRALIZED DIPSHIT.

Try harder to make PPC out to be something it is not.....PPC is BROKEN.

Also the exploit in the Proof of Stake algorithm has not been proven to be fixed. Of course you knew this given you've been on this forum for such a long time right?

Fail noob is fail noob. Your account was created on February 25th, 2013. So no, your words mean nothing. Do more research and learn more about cryptos then come back and discuss with the adults.   Grin Grin Grin

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                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
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March 17, 2013, 08:25:24 PM
 #16

makes sense... there is no point in doing the same thing twice (LTC)

This is LOL.

Litecoin actually improves on Bitcoin, get your facts straight! It is not the "same thing twice" as you put it.  Roll Eyes Roll Eyes Roll Eyes Tongue

--Faster transactions
--Short term ASIC resistant (they wont come for a long time for LTC)
--fpgas will be here soon, further strengthening the network
--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already
--more stores and services opening up for LTC every day
--arguably/definitely the biggest community of ALT coin users to make things for it and improve upon it

Sorry but i don't understand a few things.

First... Why is "ASIC Resistant" a good thing? As far as i know asics brings protection to the network, so when more hashing power the better for all of us.

Second... Farster transactions will be coming at BTC too in a future once the block size will be increased, so it's not a concern.

I really can't see one single thing that LTC improves over Bitcoin, transactions may be faster (only the first) but it should change in a future and second is less secure, so what gives?

No ofence, i'm just trying to understand the value of it. As for now i only see all alternate cryptocurrencies a refugee from miners who can't compete on BTC and  want to speculate on a new chain, it's like a ponzi, they are all almost a carbon/copy of Bitcoin.



Right now people bitcoin GPU miners can switch to mining litecoin. If they upgrade to ASICs for bitcoin, they will no longer be able to switch to Litecoin when it is more profitable to mine. Bitcoin miners will be locked into only mining bitcoins with ASICs.

Litecoin miners (GPU miners) will mine Litecoin most likely because ASICs will make bitcoin mining with GPUs UNPROFITABLE.

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March 17, 2013, 08:28:02 PM
 #17

Litecoin is the same things as bitcoin, but with downgraded security in its mining algorithm making it super vulnerable to botnet control, almost no developers, old software, and fewer than 20 merchants (many of whom have to be emailed to place an order with litecoin).

This is not the end of alt crypto though.  Litecoin will soon be replaced by something not so vulnerable to botnets and supercomputers and more friendly to GPUs.  Hopefully it will be a coin that tries something innovative with the code involving more than ten minutes of work.
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March 17, 2013, 08:31:49 PM
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With a market cap in the millions and thousands of dedicated miners, I doubt that.  Additionally, the scrypt implementation and then the GPU miner for scrypt took way, way longer than 10 minutes to code (you're forgetting Tenebrix/Fairbrix, advancements in the mining algorithm that allowed it to be GPU mined, etc etc).

The point of Litecoin was being a dedicated memory hard chain based on scrypt -- something that was achieved in spades.  Even the other coins with active development like PPCoin haven't updated to 0.7 backend yet, because 0.6.3 is a solid, stable release.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
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March 17, 2013, 08:33:29 PM
 #19

Litecoin is the same things as bitcoin, but with downgraded security in its mining algorithm making it super vulnerable to botnet control, almost no developers, old software, and fewer than 20 merchants (many of whom have to be emailed to place an order with litecoin).

This is not the end of alt crypto though.  Litecoin will soon be replaced by something not so vulnerable to botnets and supercomputers and more friendly to GPUs.  Hopefully it will be a coin that tries something innovative with the code involving more than ten minutes of work.

Put your money (not just $500 or $1000 or $10,000) where your mouth is and pay someone to attack litecoin. Your talking makes you look more stupid with each post.

Bring it.  Tongue

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March 17, 2013, 08:38:02 PM
 #20

makes sense... there is no point in doing the same thing twice (LTC)

This is LOL.

Litecoin actually improves on Bitcoin, get your facts straight! It is not the "same thing twice" as you put it.  Roll Eyes Roll Eyes Roll Eyes Tongue

--Faster transactions  We changed a parameter or two in the software!
--Short term ASIC resistant (they wont come for a long time for LTC)  Mining is less effecient
--fpgas will be here soon, further strengthening the network  but it is improving
--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already
--more stores and services opening up for LTC every day
--arguably/definitely the biggest community of ALT coin users to make things for it and improve upon it  We're number one at being number two!

FIFY

--Already have 2,873,000 Kh of hashing speed behind it, making it pretty stable already thus only 1 out of 2 people can perform a double spent attack
--more stores and services opening up for LTC every day including scam offerings

FIFY
completed

LOL. The Bitcoin Gang here to troll. I think everyone should read both sides of the story and not listen to Bitcoin trolls that are scared of a competing currency that is better (read: faster) than their own. It might deflate their large investments in Bitcoin in the coming years if Litecoin becomes more popular.

They are the wealthy elite and you know... wealthy elite type folks don't like to become part of the formerly wealthy elite.



Calling someone like Jutarul a troll is a shortcut to my ignore list.
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