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Author Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched!  (Read 785570 times)
BitcoinPorn
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November 30, 2011, 03:34:52 AM
 #1361

I don't know if this has already been brought up or not, but..

Quote
Pyramid scheme

Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.

https://en.bitcoin.it/wiki/Litecoin  Cheesy

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November 30, 2011, 05:11:50 AM
 #1362

I don't know if this has already been brought up or not, but..

Quote
Pyramid scheme

Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.

https://en.bitcoin.it/wiki/Litecoin  Cheesy

and it's protected now because of a latest violation of RR3 (I know they don't have that rule, so edit war?).

however litecoin and solidcoin are the only cc`s on bitcoin wiki Wink

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terrytibbs
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November 30, 2011, 06:38:48 AM
 #1363

I don't know if this has already been brought up or not, but..

Quote
Pyramid scheme

Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.

https://en.bitcoin.it/wiki/Litecoin  Cheesy
Yeah, I talked to genjix about it, he dodged my question conveniently.
Without proper citation, a statement like "a malicious entity needs only produce a single piece of specialized/custom hardware to overtake all the commodity mining systems combined" has absolutely no place in a wiki.

Guilty until proven innocent, eh!
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November 30, 2011, 10:17:37 AM
 #1364

I don't know if this has already been brought up or not, but..

Quote
Pyramid scheme

Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.

https://en.bitcoin.it/wiki/Litecoin  Cheesy
Yeah, I talked to genjix about it, he dodged my question conveniently.
Without proper citation, a statement like "a malicious entity needs only produce a single piece of specialized/custom hardware to overtake all the commodity mining systems combined" has absolutely no place in a wiki.

Guilty until proven innocent, eh!
Well ... that's the law in France ... Tongue

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December 01, 2011, 12:43:03 AM
 #1365

I have to say I am happy that Litecoin and all the alternative currency's are here. I have learned a ton about Bitcoin simply by hanging out in this section and reading all of your posts. I have begun to realize through intense philosophical and technical analysis that Bitcoin is truly king...

Tweet For Coins http://uptweet.com
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December 01, 2011, 08:15:51 AM
 #1366

I have to say I am happy that Litecoin and all the alternative currency's are here. I have learned a ton about Bitcoin simply by hanging out in this section and reading all of your posts. I have begun to realize through intense philosophical and technical analysis that Bitcoin is truly king...

and litecoin is the queen?
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December 01, 2011, 08:27:50 AM
 #1367

I have to say I am happy that Litecoin and all the alternative currency's are here. I have learned a ton about Bitcoin simply by hanging out in this section and reading all of your posts. I have begun to realize through intense philosophical and technical analysis that Bitcoin is truly king...

and litecoin is the queen?
No, Litecoin is a copy of Bitcoin with no "real" improvements.

EDIT: A third party service could (and probably will) replace LTC and all other Alt currency's, simply by allowing "instant" BTC payments, and some sort of fraud + BTC vault protection. Wink

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JA37
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December 01, 2011, 12:43:43 PM
 #1368

I tried mining some LTC and I got 100LTC from mining in 50 coin chunks. I do however have 4 transactions listed, so it seems like I have 2 transactions that didn't give me any coins. Is that normal? Why is it this way?

Ponzi me: http://fxnet.bitlex.org/?ref=588
Thanks to the anonymous person who doubled my BTC wealth by sending 0.02 BTC to: 1BSGbFq4G8r3uckpdeQMhP55ScCJwbvNnG
terrytibbs
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December 01, 2011, 03:37:36 PM
 #1369

I tried mining some LTC and I got 100LTC from mining in 50 coin chunks. I do however have 4 transactions listed, so it seems like I have 2 transactions that didn't give me any coins. Is that normal? Why is it this way?
Those are (probably) orphans. They're hidden from the transaction view in the official client, but you'll see them if you activate the RPC server of the GUI client or start a daemon and run
Code:
listtransactions
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December 01, 2011, 03:48:24 PM
 #1370

I tried mining some LTC and I got 100LTC from mining in 50 coin chunks. I do however have 4 transactions listed, so it seems like I have 2 transactions that didn't give me any coins. Is that normal? Why is it this way?
Those are (probably) orphans. They're hidden from the transaction view in the official client, but you'll see them if you activate the RPC server of the GUI client or start a daemon and run
Code:
listtransactions
So I almost had 50 extra LTC but was declared the loser. Oh well.

Ponzi me: http://fxnet.bitlex.org/?ref=588
Thanks to the anonymous person who doubled my BTC wealth by sending 0.02 BTC to: 1BSGbFq4G8r3uckpdeQMhP55ScCJwbvNnG
kano
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December 01, 2011, 08:38:04 PM
 #1371

Orphans are actually common when solo mining the alt chains.
If I use "listtransaction * 20000" (I did early solo mining but also received a lot of LTC dust so I need a large number there ...)
I see a lot of orphans ... specifically ... 90 of them Tongue (and 99 generate)

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coblee
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December 02, 2011, 11:42:15 PM
 #1372

Any interest in physical litecoins?
https://bitcointalk.org/index.php?topic=53596.0
Please discuss in that thread.

terrytibbs
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December 04, 2011, 05:33:29 PM
 #1373

We just hit diff 0.98673512!

Average time to find a block for every 1KH/s is now 49.05 Days.
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December 06, 2011, 02:21:37 PM
 #1374

its looking good and looks like its staying up there ... allchains reporting a estimated change of only -7% so still +0.9 diff in two days time hopefually +1 Smiley

http://PooL-X.eu/ join the crew, bring your slaves
http://wallet.it.cx/ Instant LTC Wallet service
bronan
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December 07, 2011, 03:19:47 PM
 #1375

I somehow seem to stumble upon a weird problem with the use of p2pool and the 5.0.4 litecoind.exe
Even though payouts are being done to the assgined adresses you can not see them.
I tried litecoind getbalance over a long period of time but it does not matter how long it runs they simply stay the same. i have to close the deamon and start the gui to see that payements has come in
At first i thought its the p2pool but i start to think its a bug in litecoind
libertytrader
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December 16, 2011, 01:46:32 AM
 #1376

Can you please make the litecoin client NOT START MINING? At least make an option to turn it off. It makes loading the program way too slow.

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December 16, 2011, 01:48:57 AM
 #1377

Can you please make the litecoin client NOT START MINING? At least make an option to turn it off. It makes loading the program way too slow.
It doesn't.
Vanderbleek
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December 16, 2011, 01:56:41 AM
 #1378

Does your .conf have gen=1 in it?

If I helped, feel free to donate to:
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LTC: LLqQuvRZd4uZyenER2mE8d3ns1N1qBWQjD
coblee
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December 19, 2011, 07:23:09 PM
 #1379

In case people haven't seen, pooler worked on an optimized version of minerd that is up to twice as fast as the previous fastest miner!
See: https://bitcointalk.org/index.php?topic=55038.0

someguy123
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December 19, 2011, 11:03:46 PM
 #1380

Remember to spread the word about litecoin, the more users we have, the more services we have, = a much better future for it.
Been about 3 weeks, mined around 400 LTC so far from pool-x Cheesy Plus I've started a great litecoin service which should encourage new users to at least try it out, LTC InstaWallet

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