Is Charlie Lee just lazy?

[shyliar]

Why has the development been so lazy? They had the golden goose at one time. One of the fairest launches in crytpto and the number 2 spot to bitcoin. Just to see it all slip away as the competition continued to innovate. There has been nothing done to improve the coin and as it slips and slips down the charts you hear nothing other then Segwit implementation that nobody wants apparently. Its a shame. Eth had the fork problem which presented the perfect opportunity for Litecoin to return to the top. Dash was smart and did what should be done. But with the premine in the beginning.......

Here is the developers wallet from the ETH foundation:

https://etherchain.org/account/0xde0b295669a9fd93d5f28d9ec85e40f4cb697bae#txsent you can see they just cashed in close to another 1 million US recently. Based on History you can guess their burn rate. Don't forget to factor in all the ETC they sold off. I'm figuring around 750K to 1 million US a month.

You already know about the premine for Dash so same story there. Holding lots of coins.

Then there is LTC, a totally fair launch and Charlie mined just like everyone else on his single CPU. Most of the LTC he owns he purchased on an exchange. I read somewhere that he recently received a single ASIC.

You're comparing millions of dollars for development or an unfair launch to something totally different. Feel free to donate funds for LTC development or the LTC association. The fact that you started this thread suggests you care. I mean if you care.

[Sumo]

I think LTC needs to keep with the safe and sound approach. One good thing is LTC is trusted because they have not tried all these new cockamamie tech ideas that crashed and burned and failed like ETH DOA. So what I propose is they take the coin tech that has had time to get all the bugs worked out and implement that.

Spoetnik don't be so angry that people speculate. Its what drives this market. It would be nothing without crypto investors speculating and purchasing. You are right a lot of the times with calling out the evil in crypto but this is LTC. I think most LTC investors are a different type.

[altcoinrich]

LTC has no future because of poor development.

So bitcoin have no future too? Because litecoin is a bitcoin carbon copy?

what logic is this, you said that bitcoin has no future because they made a copy of it? it's the opposite litecoin has no future because it's a copy, and bitcoin have only the block size problem nothign else, full anonimity isn't a good thing, go look at monero problem when they send money to someone and that someone can easily say that money are not arrived, because there is now ay to prove it

Oк. The claim of poor development in Litecoin is a obvious lie, since litecoin adopted all recent innovations of Bitcoin including SegWit. So, when someone claim litecoin have no future because of poor development he basically says bitcoin has substandard development too. I agree on anonimity thing: bitcoin privacy level is fine, internal mixing of shadowcash or monero or dash only made blockchain bigger, transactions more complicated and basically unnecessary overkill.

Like Ayers said, your logic is confused, how do you think bitcoin has no development because of litecoin has no development? I don't get your logic at all. Bitcoin is the prototype of crypto currency and its tech is the best, litecoin is a simple clone of bitcoin. Litecoin doesn't always update the codebase if bitcoin has general improvement.

[dfd1]

bitcoin has no development because of litecoin has no development?

Why do you think bitcoin and litecoin has no development? Bitcoin has best team of experienced programmers, no ETH, monero or any other altcoin dev team can be compared with bitcoin developers. Not even close, you silly.
Litecoin developers implement all features of bitcoin, so Litecoin and Bitcoin both has top technology inside their software.

For example, Litecoin Core v0.13.2 release come with next updates:

    Segregated Witness - to allow for greater transaction output and mitigation of transaction malleability.
    Hierarchical Deterministic wallets - Litecoin Core will support hierarchical deterministic wallets also known as HD wallets.
    Faster signature validation using the libsecp256k library developed by Bitcoin Core developers.
    Wallet pruning to reduce block size storage.
    Memory usage improvements including better mempool filtering of transactions.
    Inbuilt Tor control socket API support if Tor is running and also stream isolation for Tor communication.
    Functionality to reduce upload traffic.
    ZMQ support - ZeroMQ is a high performance asynchronous messaging library, aimed at use in distributed concurrent connections. Litecoin will support ZMQ for broadcasting block and transaction data.
    Obfuscated blockchain data - Several antivirus applications detect the Litecoin stored blockchain data as a malware threat. Litecoin 0.13 will obfuscate the blockchain data to rid these false positives.

This update will also see the inclusion of several BIPs which can be seen below;

    BIP9 - This BIP allows multiple soft fork changes to be deployed in parallel.
    BIP32 - This BIP allows Litecoin Core to support hierarchical deterministic wallets.
    BIP68 - This BIP allows relative locktime enforcement through sequence numbers.
    BIP111 - This BIP extends BIP 37, Connection Bloom filtering, by defining a service bit to allow peers to advertise that they support bloom filters explicitly. It also bumps the protocol version to allow peers to identify old nodes which allow bloom filtering of the connection despite lacking the new service bit.
    BIP112 - This BIP is a proposal to redefine the semantics used in determining a time-locked transaction's eligibility for inclusion in a block. The median of the last 11 blocks is used instead of the block's timestamp, ensuring that it increases monotonically with each block.
    BIP113 - This BIP describes a new opcode (CHECKSEQUENCEVERIFY) for the Litecoin scripting system that in combination with BIP68 allows execution pathways of a script to be restricted based on the age of the output being spent.
    BIP130 - This BIP adds a new message, "sendheaders", which indicates that a node prefers to receive new block announcements via a "headers" message rather than an "inv".
    BIP133 - This BIP adds a new message “feefilter”, which serves to instruct peers not to send “inv”s to the node for transactions with fees below the specified fee rate.
    BIP141 - This BIP defines a new structure called a “witness” that is committed to blocks separated from the transaction merkle tree.
    BIP143 - This BIP contains the logic for signature verification for version 0 witness program.
    BIP144 - This BIP contains the logic for new messages and serialization formats for propagation of transactions and blocks committing to segregated witness structures.
    BIP147 - This BIP contains changes to the transaction validity rules to fix a malleability vector.
    BIP152 - This BIP add compact block relay to reduce the bandwidth required to propagate new blocks.

As a bonus, unlike Bitcoin, Litecoin can also process transactions. So, basically, bitcoin + transactions = litecoin. Litecoin - transactions = bitcoin.

They both share top-level codebase, best security, best distribution, while litecoin also can process more transactions due to bigger block size and faster block generation.

Your assertion of litecoin having no development is highly inaccurate. Educate yourself.

[Grdas130979]

LTC is good at what it is supposed to be. A currency, cheaper than BTC, used for daily transactions. I dont know if it can do other things also, i know that it is better to do one thing great that many things good.

[Sumo]

The market is speaking as investors are leaving in droves.

[dfd1]

The market is speaking as investors are leaving in droves.

Price is stable, volume is stable.
Litecoin is a second most accepted coin in the Universe.
No other coin, especially centralised coins like ETH, can compete with litecoin real adoption.
Even wikileaks accepts litecoin (proof: https://shop.wikileaks.org/donate#dlitecoin)
Call me when ethereum premine will have some real adoption besides pockets of manipulators and crooks.

[Farstdury]

LTC has no future because of poor development.

So bitcoin have no future too? Because litecoin is a bitcoin carbon copy?

Litecoin is just a copy of bitcoin, so people will use bitcoin.

[dfd1]

LTC has no future because of poor development.

So bitcoin have no future too? Because litecoin is a bitcoin carbon copy?

Litecoin is just a copy of bitcoin, so people will use bitcoin.

https://blockchain.info/unconfirmed-transactions
Looks like some 62588 happy bitcoin users recently did just that.
Used bitcoin for transaction. Do you really think they will use bitcoin again?

[kiklo]

LTC has no future because of poor development.

So bitcoin have no future too? Because litecoin is a bitcoin carbon copy?

Litecoin is just a copy of bitcoin, so people will use bitcoin.

Problem is transaction fees are skyrocketing , and it is taking some people days to receive BTC.

LTC has cheaper transaction fees, Faster Transfers, and 4X BTC transaction Capacity and no backlog.

BTC is on its way out for not keeping up with the technology of alt coins.
The Stupid will be caught flatfooted when BTC crashes. 

 

[Farstdury]

LTC has no future because of poor development.

So bitcoin have no future too? Because litecoin is a bitcoin carbon copy?

Litecoin is just a copy of bitcoin, so people will use bitcoin.

Problem is transaction fees are skyrocketing , and it is taking some people days to receive BTC.

LTC has cheaper transaction fees, Faster Transfers, and 4X BTC transaction Capacity and no backlog.

BTC is on its way out for not keeping up with the technology of alt coins.
The Stupid will be caught flatfooted when BTC crashes. 

 

When the bitcoin adopt the unlimited block size technology, I think the transaction time will be faster.

[dwgscale11]

LTC has no future because of poor development.

So bitcoin have no future too? Because litecoin is a bitcoin carbon copy?

Litecoin is just a copy of bitcoin, so people will use bitcoin.

Problem is transaction fees are skyrocketing , and it is taking some people days to receive BTC.

LTC has cheaper transaction fees, Faster Transfers, and 4X BTC transaction Capacity and no backlog.

BTC is on its way out for not keeping up with the technology of alt coins.
The Stupid will be caught flatfooted when BTC crashes. 

 

When the bitcoin adopt the unlimited block size technology, I think the transaction time will be faster.

Wow, you are new here... BU is the worst thing to happen in this space.  Segwit and LN on LTC will be where the real coders move to.  The handful of mediocre programmers can have the altcoin BTU space.

[Sumo]

I was watching an interview with Charlie and they were asking about LN anon and smart contracts and when we can expect to see them. His reply was oh there is no time frame, we work on this in our spare time and well try to get it out as soon as we can.

You would think in a 100 billion dollar and growing market there would be some full timers.

[jameshowlett]

He is lazy. But at least he has done his best to support litecoin

[Weatherby]

I was watching an interview with Charlie and they were asking about LN anon and smart contracts and when we can expect to see them. His reply was oh there is no time frame, we work on this in our spare time and well try to get it out as soon as we can.
You would think in a 100 billion dollar and growing market there would be some full timers.

I could say that this could be a part time project for Charlie as he does not want to immerse himself into the development on a full time basis,he started this ass a fun project and then the coin had a real following back in the day and the lack of new development has made a dent but i think the price would recover from this situation.

[Sumo]

Lets make a world currency with billions of dollars in market cap and lets do it in our spare time. lol  Then look at all time chart. He shows his face people give him millions of dollars, then he disappears again until the halving or next pump opportunity. Lame. Litecoin could have been so much more.

[European Central Bank]

Lets make a world currency with billions of dollars in market cap and lets do it in our spare time. lol  Then look at all time chart. He shows his face people give him millions of dollars, then he disappears again until the halving or next pump opportunity. Lame. Litecoin could have been so much more.

he achieved the hard part - segwit. many bitcoin developers said they were gonna pile in with their ideas. it's up to them now.

[Sumo]

sounds like they are back to work on btc now that an agreement has been reached. So now the pressure should be on Charlie to give updates and engage the community. What does LTC do? What is its purpose and where are we going from here?

Lightning Network

MAST

Confidential Transactions

Schnorr Signatures

So whats going on with these? What does each thing do?. He mentioned decentralized exchange possible. What about that? Was it all just Hype for the Segwit rally?

[shyliar]

Not like people are being kept in the dark. The information is easy to find.

https://cointelegraph.com/news/litecoin-releases-ambitious-roadmap-for-2017-as-segwit-steals-bitcoin-business

https://litecoincore.org/

Some of the comments above are good for a laugh. Could one of you explain how someone who works full time does anything else that doesn't happen in their spare time. Seems impossible.

[Sumo]

Roadmap looks like it took 10 minutes lol   Maybe like you said hes just too busy at his job to take care of LTC properly. There are so many other coins to choose from that do make the time. That makes it pretty hard for LTC to compete in the market.