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Author Topic: Decentralize LTC mining, change algo to GPU POW  (Read 1230 times)
reb0rn21
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March 22, 2017, 07:17:45 PM
 #1

I posted this first on reddit:
https://www.reddit.com/r/litecoin/comments/60v2mr/decentralize_ltc_mining_switch_to_gpu_pow/

But would like to see what people think about it

We all know that in past years we only see asic miners dumping, while BTC is having problems with block overload. What did litecoin did? NOTHING at all?
Few Chinese pools decided to block any litecoin development and usability by blocking Segwit and in the process made litecoin weak and controlled by a few greedy people!
I propose that we soft fork to dual POW mining with GPU or even hard fork to some GPU heavy algo for which it is infeasible to create fast ASICs, or at least make it very expensive.
It could be equihash or some variant or lyra2 algo tuned for GPU
I am 100% sure 95% GPU miners would be open and eager to push segwit, that move would also make as on radar of huge number of people mining it
At same way we would decentralize mining all over a world!
In past I was never for hard fork or algorithm change, but if you as an investor and user of litecoin became hostage of 2-3 pools which have zero respect for the future and community, is it not right to do what majority wants?

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March 22, 2017, 07:19:20 PM
 #2

Good luck getting ASIC miners to support a fork which cuts them off completely.

RIP Bittrex
reb0rn21
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March 22, 2017, 07:26:14 PM
 #3

Good luck getting ASIC miners to support a fork which cuts them off completely.

They cutted litecoin development in full, they don`t listen to litecoin investors nor in the market nor in economy
Most litecoin pools are also a BTC pools that have agenda not to work in community interests (block segwit) and if them mean BLOCK litecoin development they will not think twice and kill it

So what is Litecoin ASIC china property or decentralized currency?

I only ask that

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March 22, 2017, 08:14:56 PM
 #4

Good luck getting ASIC miners to support a fork which cuts them off completely.

They cutted litecoin development in full, they don`t listen to litecoin investors nor in the market nor in economy
Most litecoin pools are also a BTC pools that have agenda not to work in community interests (block segwit) and if them mean BLOCK litecoin development they will not think twice and kill it

So what is Litecoin ASIC china property or decentralized currency?

I only ask that

What I mean is that you can only ever change the algo of Litecoin if the majority of miners accept the fork. Short of that you could have a fork with a different algo but that would just mean you have a Litecoin fork with a tiny network while the original ASIC network would keep going.

RIP Bittrex
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March 22, 2017, 08:19:25 PM
 #5

There is also a option to softfork to dual algo mining, but I am not tech for it to know how that would go

But yeah sure hard fork to different algo would make new fork, but do we have option if asic miners decide to kill all LTC development and their only goal is to dump mined coins?

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March 22, 2017, 08:32:50 PM
 #6

There is also a option to softfork to dual algo mining, but I am not tech for it to know how that would go

But yeah sure hard fork to different algo would make new fork, but do we have option if asic miners decide to kill all LTC development and their only goal is to dump mined coins?

As much as dislike ASICs, they're not killing Litecoin.

With current prices 55.15 BTC or $56,448 worth of Litecoins get mined every day. Even if that was mined by GPUs, most of it would get dumped just the same. Especially if there's no development or some incentive to hold instead of dumping.

Dual algo mining would make LTC interesting for a while but then again, ASIC miners would have to agree to share the cake with GPUs which they'll likely won't do.

RIP Bittrex
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March 22, 2017, 08:37:09 PM
 #7

Don`t forget asic miners are just few rich chines pools in full control (they are miners at same time), they blocked segwith what will they do next?

Is that how its should be few greedy asholes should be the ones to decide

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March 22, 2017, 08:52:44 PM
 #8

We, the small ones want some piece of the cake, vote for segwit !!

[I want to buy]
q2c qubitcoin, pxc Phoenixcoin, LiteBar (LTB), bbq bqc, kdc klondikecoin
reb0rn21
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March 23, 2017, 03:30:57 AM
 #9

http://www.strawpoll.me/12588657

vote for GPU POW

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March 23, 2017, 05:14:01 AM
 #10

Don`t forget asic miners are just few rich chines pools in full control (they are miners at same time), they blocked segwith what will they do next?

Is that how its should be few greedy asholes should be the ones to decide
WORD!
Voted... You got my support.
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March 23, 2017, 08:16:54 AM
 #11

Voted...LTC on GPU...I don't think they are just greedy, only short-term thinking, they will kill LTC...I think these are last moments for help!

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March 23, 2017, 08:54:12 AM
 #12

funny thing is that chinese have a big farm in gpu territory too....

THE FUTURE OF
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March 23, 2017, 10:41:22 AM
 #13

So the only way of getting this to work is if every LTC exchange upgrades their wallet correct?

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March 23, 2017, 10:57:14 AM
 #14

Time for a new coin then..

Litecoin-classic  Huh
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March 23, 2017, 11:54:47 AM
 #15

Most of mining hardware asics or gpus are partially or fully made in china , the chinese farms can get this hardware with very cheap price so... Cheap hardware and electricity combines to make a mining monster.
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March 23, 2017, 02:42:04 PM
 #16

They don`t rule GPU mining, I for sure know they don`t have more then ~20% power in total GPU mining!

The primary problem is not china miner, its their conflict of interests with bitcoin which their agenda to block segwit and keep bitcoin stuck in time and usage, yeah they ARE STUPID and only think day by day!

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April 02, 2017, 08:44:30 PM
 #17

I have updated the list of anti segwit litecoin pools, please all email them and ask for segwit activation:

http://ltc1btc.com/ support@ltc1btc.com
https://www.batpool.com/ support@batpool.com
https://www.clevermining.com/ https://bitcointalk.org/index.php?topic=448649.0
https://ltc.bw.com/pool/i support@bw.com
https://prohashing.com/
https://www.antpool.com https://twitter.com/BITMAINtech

So far I got reply from prohashing that they support segwit but have problem with it code and need time to upgrade pool!

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