[LTC] Litecoin Core Development Fundraising

[trdiablo]

What LTC really needs (and fast) are plug-ins for the most common Shopping cart systems. Many of the sites that currently accept BTC woudl be willing to accept LTC also but they don't because there is no (secure) plugin for it like BTC has.

All software listed here https://bitpay.com/bitcoin-shopping-cart-plugins  should also have a LTC version.
Once more merchants accept it the price will for sure go up.

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[kelsey]

Can u give me the breakdown or a link that explains the current exorbitant fee of 0.1 methodology so that we know when and how this is requested\charged etc

yesterday I was tx to and from a hot wallett to cold storage and was hit 4 times with .1

even Visa & mc dont charge that much ..(well they do but come on )

That's from the history of "no development and no release for a year", which is one of the reasons why I joined development.  The next release drops the fee by a conservative factor.  We will monitor market conditions after that point and decide how to adjust the standard fee again.  0.8.2 also allows mining pools the freedom to adjust their acceptable fee threshold if they think they can attract more profits, but that can be hazardous to their pool if done improperly.

Please follow the Litecoin Dev Team news.  All this stuff is explained there first: https://plus.google.com/104307324656397909502/posts

I think any kind of transfer fees defeats one of the main reasons for having cryptocurrencies in the first place.

[E.Sam]

I think any kind of transfer fees defeats one of the main reasons for having cryptocurrencies in the first place.

I agree, but unfortunately you have to do so in order to avoid blockchain spam. There was a lot of transaction spam during the early months of Litecoin, which filled up the blockchain. Following this, the fees were revised.

[wtogami]

I think any kind of transfer fees defeats one of the main reasons for having cryptocurrencies in the first place.

I agree, but unfortunately you have to do so in order to avoid blockchain spam. There was a lot of transaction spam during the early months of Litecoin, which filled up the blockchain. Following this, the fees were revised.

Not just spam protection, but transaction fees are also necessary to pay for miners to operate in the future when the block subsidy reward gets smaller and smaller.  Providing security for the blockchain is not free.

[E.Sam]

Ho yes, of course... forgot this *small* detail 

[wtogami]

https://forum.litecoin.net/index.php/topic,4371.msg31127.html#msg31127
Coin Control Experimental Build

[atengzt]

Donated 11LTC.

[wizzardTim]

@devs: have you seen this: https://forum.litecoin.net/index.php/topic,4212.msg31180.html#msg31180 ?

Can we replace the old icons/logos from the wikipedia/litecoin.org/client?

I believe they are much better. Swapping the old with the new, more eye-candy versions, will make LTC more appealing and easily welcome.

[dragon2nd]

Well, it seems unlikely that LTC will win the 5,000 LTC Matching Donation Challenge by June 18th.

[OneMINER]

To hell with that. We're going to make it. ;P

20 LTC donated.

EDIT: This is over 10% of my LTC holdings and two months of my 24/7 GPU output. Let's step it up people!!!

[wtogami]

Updated: June 14th, 2013

~2,870 LTC remaining to meet the 5,000 LTC Challenge

https://forum.litecoin.net/index.php/topic,3874.msg27095.html#msg27095
Donations in support Litecoin Dev are now doubled thanks to the matching sponsor!
https://docs.google.com/spreadsheet/pub?key=0AnlrnfU-U6E-dFVuUnlfZUlqek9JbzlNYjVENWp3ZlE&gid=0
See the list of sponsors.

[wtogami]

Updated: June 15th, 2013

~2,462 LTC remaining to meet the 5,000 LTC Challenge

https://forum.litecoin.net/index.php/topic,3874.msg27095.html#msg27095
Donations in support Litecoin Dev are now doubled thanks to the matching sponsor!
https://docs.google.com/spreadsheet/pub?key=0AnlrnfU-U6E-dFVuUnlfZUlqek9JbzlNYjVENWp3ZlE&gid=0
See the list of sponsors.

[ThiagoCMC]

Guys,

Long life to Litecoin and Bitcoin!!

I'm the owner of the following Launchpad account: https://launchpad.net/~litecoin

Please, let me know if you guys wants it... I would love to help Litecoin Ubuntu packaging.

Best!
Thiago

[zappa]

10% of my holdings incomming, you'd better make it!

[wtogami]

Updated: June 16th, 2013

~2,385 LTC remaining to meet the 5,000 LTC Challenge

https://forum.litecoin.net/index.php/topic,3874.msg27095.html#msg27095
Donations in support Litecoin Dev are now doubled thanks to the matching sponsor!
https://docs.google.com/spreadsheet/pub?key=0AnlrnfU-U6E-dFVuUnlfZUlqek9JbzlNYjVENWp3ZlE&gid=0
See the list of sponsors.  PM me with your txid if you want your name listed.

[coinedBit]

LiteCoin being fairly well known and getting lots of publicity, why don't you simply start a traditional crowdfunding campaign, e.g. through kickstarter ?

[kelsey]

I think any kind of transfer fees defeats one of the main reasons for having cryptocurrencies in the first place.

I agree, but unfortunately you have to do so in order to avoid blockchain spam. There was a lot of transaction spam during the early months of Litecoin, which filled up the blockchain. Following this, the fees were revised.

Not just spam protection, but transaction fees are also necessary to pay for miners to operate in the future when the block subsidy reward gets smaller and smaller.  Providing security for the blockchain is not free.

Well we all know why the fee's are in place but doesn't change the fact that it defeats the purpose of having such a currency.....so I think you can come up with a tad better solution then this.

All the push for cryptocurrencies;

oh don't give the big banks your fees, and there is none of these big evil central banks.......yet using ltc the transfer fees are larger then any bank I use, and now you're pushing to be on Mt Gox......so what then is you're reasoning for existance?

[wtogami]

Well we all know why the fee's are in place but doesn't change the fact that it defeats the purpose of having such a currency.....so I think you can come up with a tad better solution then this.

All the push for cryptocurrencies;

oh don't give the big banks your fees, and there is none of these big evil central banks.......yet using ltc the transfer fees are larger then any bank I use, and now you're pushing to be on Mt Gox......so what then is you're reasoning for existance?

The current fees are from an accident of history.  There has been no development of Litecoin and no releases for a year.  The current LTC dev team is newly organized as of March with rapid development from May.  The team is now in the process of rolling out many bug fixes and lower fees to match prevailing market conditions.  Check out the news: https://plus.google.com/104307324656397909502/posts

Litecoin is NOT FOR MICRO-TRANSACTIONS.  It makes no sense to allow thousandth or millionth of a cent transactions on a public ledger that only grows forever.  Litecoin has made the conscious decision to discourage stupid uses of the ledger using market-based behavioral incentives, thus allowing the blockchain size and UTXO set to grow with proportion to actual user adoption.  These rules were in place from November 2011, and are likely a major contributing factor to the survival of the coin while so many others have failed.

If you don't like it, you are welcome to use any of the other coins.  Bitcoin, for example, you might have heard of it.  Bitcoin has an entirely different philosophy, to the extent that the chain storage is rapidly growing beyond the level of comfort for the casual home user.  Learn more about Bitcoin's political battle over inefficient growth at Keep Bitcoin Free.

[sixteendigits]

I was going to donate a few LTC but when I check the address in block explorer it says that it isn't found.  Is the block explorer not working right now, or is the address incorrect?  Wanted to be sure I got the right address before I send off any donations.

[wtogami]

I was going to donate a few LTC but when I check the address in block explorer it says that it isn't found.  Is the block explorer not working right now, or is the address incorrect?  Wanted to be sure I got the right address before I send off any donations.

That explorer database has suffered a major failure.  You can verify coblee's GPG signature to verify that the message was genuine.

http://explorer.litecoin.net/address/LRNYxwQsHpm2A1VhawrJQti3nUkPN7vtq3
http://litecoinscout.com/address/LRNYxwQsHpm2A1VhawrJQti3nUkPN7vtq3
Here are two other explorers.

Thanks for your support!  Please reply/PM with your txid if you want your name on the sponsor list.