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Author Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched!  (Read 784624 times)
Red Emerald
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March 11, 2012, 07:07:12 AM
 #1521

I am starting to think Litecoin's best used is as a game currency.

I don't think it is any better than Bitcoin for normal transactions, but it is great for sending a few satoshi.  I think most game's micro-transactions should only be worth a few cents. Litecoin handle's those smaller amounts much better than Bitcoin does.

I can't remember who said it, but I liked the comparison to wooden nickels.

Games like Diablo 3 are going to be bringing "real" money and game currencies even closer together.  I think Litecoin (which I doubt a company like Blizzard would accept any time soon) would be a great way for at least Indy games to handle their micro-transactions.

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markm
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March 11, 2012, 08:13:03 AM
 #1522

As far as I can tell no LiTeCoin users even tried the game I recently set up, so I think maybe they are just not the right kind of people, games do not seem to interest them in the slightest.

Mind you it is my intent with all these games not to force people who play the game markets to have to actually play the games in which the items on the markets are actually used, so maybe its no big deal that LiTeCoin users have no interest in games. Maybe it will suffice that they can buy and sell game items commodities stocks bonds shares and currencies without ever having to enter any of the actual games whose items commodities etc are being traded on the market. Afterall the main advantage blockchain based assets have over assets that exist only on the game's own servers is this very fact that people don't have to enter the game to use them. They can trade them among themselves without ever having played the game, and they can do so purely on the basis of "technical analysis" even without knowing or caring anything about the assets other than how they perform on the markets.

Since the currencies are totally independent of any one game, it is really up to the players which such currencies they choose to use. The games simply provide venues in which trading of game items and game accounts are not against the Terms Of Service, so that players can trade freely without concern that the game management will confiscate their game assets if they do engage in such trade.

So far more players in the various games have been trading IXCoins than LiTeCoins, simply because IXCoin has a character, "Ix", who is actively seeking to establish trade using that currency. So far no player/character has emerged as a champion of LiTeCoin so IXCoin is pretty much the default cryptocurrency the players think of trading in as they know there is a trader who is will buy them and will sell things for them. WIth LiTeCoin there is so far no-one that comes to mind as the go-to character for buying stuff from with them nor for selling them to. I suppose that could be charaterised as an opportunity, but it does not seem to be an opportunity that LiTeCoin advocates are interested in pursuing.

-MarkM-

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unabridged
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March 12, 2012, 12:14:11 AM
 #1523

what happened to blockexplorer.sytes.net? are there any litecoin blockexplorers currently online?

BTC: 1FMzTWoaKyQjFg2tJn7TkVT4aSAQgKbCpj
LTC: LUwWqUt93QJFxHxkfehn73sqfvhbUSQ4qt
NMC: My3QKLe17Xc9D1tVUzkE7vxUqRMsQfAGSR
bitcoinsarefun
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March 12, 2012, 02:39:08 AM
 #1524

what happened to blockexplorer.sytes.net? are there any litecoin blockexplorers currently online?

http://abe.liteco.in/chain/Litecoin
Tittiez
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March 15, 2012, 02:55:56 AM
 #1525

I fixed up the hardware page on the wiki and split the CPU and GPU sections!

https://github.com/coblee/litecoin/wiki/Mining-hardware-comparison
forsetifox
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March 15, 2012, 08:11:29 PM
 #1526

Coblee. If you're working on something can you at least let us know? I'm starting to think that litecoin has been abandoned.
coblee
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March 15, 2012, 08:25:32 PM
 #1527

Coblee. If you're working on something can you at least let us know? I'm starting to think that litecoin has been abandoned.

I've been working on putting p2pool in the client, but I'm no longer sure if there's enough demand for that. Let me open this up. What do people think needs to be improved with Litecoin?

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March 15, 2012, 08:26:56 PM
 #1528

Coblee. If you're working on something can you at least let us know? I'm starting to think that litecoin has been abandoned.

I've been working on putting p2pool in the client, but I'm no longer sure if there's enough demand for that. Let me open this up. What do people think needs to be improved with Litecoin?

Well what possibilities have you looked into as far as merchants looking into accepting LTC for payment or maybe LTC merchant solutions?
markm
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March 15, 2012, 08:48:51 PM
 #1529

I anyone running a thin client server yet modified to use litecoin instead of bitcoin, so that a thin client modified to use litecoin instead of bitcoin has at least one server out there to work with?

-MarkM-

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March 15, 2012, 09:31:48 PM
 #1530

For litecoin to live a relatively long life the algorithm should be made to NOT run on GPU's very well. However if this is done and it's kept open source I an assure you reaper will just be updated again.

This is essentially a war between the SLC backers and the LTC backers. Litecoin HAS been winning the war but with the deput of reaper (by the SLC backers) that is putting way too much LTC in the market. The price has been constantly dropping. If it wasn't for the mystery buyer that keeps buying sell orders up to .0012-.0013 on BTCE the price would be way lower.

Aside from this I only see a few things that can save litecoin.

1: Change the algorithm to be GPU hostile and change it to closed source.
2: Change the block reward to something lower.
3: Change the difficulty code so it's harder to get coins.
4: Community motivator to get projects running that support litecoin.

If none of these are done litecoin is going slowly whimper out.
kano
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March 15, 2012, 09:50:07 PM
 #1531

For litecoin to live a relatively long life the algorithm should be made to NOT run on GPU's very well. However if this is done and it's kept open source I an assure you reaper will just be updated again.

This is essentially a war between the SLC backers and the LTC backers. Litecoin HAS been winning the war but with the deput of reaper (by the SLC backers) that is putting way too much LTC in the market. The price has been constantly dropping. If it wasn't for the mystery buyer that keeps buying sell orders up to .0012-.0013 on BTCE the price would be way lower.

Aside from this I only see a few things that can save litecoin.

1: Change the algorithm to be GPU hostile and change it to closed source.
2: Change the block reward to something lower.
3: Change the difficulty code so it's harder to get coins.
4: Community motivator to get projects running that support litecoin.

If none of these are done litecoin is going slowly whimper out.

Your CoinHunter right?

Pool: https://kano.is BTC: 1KanoiBupPiZfkwqB7rfLXAzPnoTshAVmb
CKPool and CGMiner developer, IRC FreeNode #ckpool and #cgminer kanoi
Help keep Bitcoin secure by mining on pools with Stratum, the best protocol to mine Bitcoins with ASIC hardware
CAMOPEJB
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March 15, 2012, 10:17:35 PM
 #1532

yep he is
Cosbycoin
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March 15, 2012, 10:34:11 PM
 #1533

Yes he is.
LoWang
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March 15, 2012, 11:50:19 PM
 #1534

Hello, to steer the discussion somewhere else I have a technical question. Is it possible to limit litecoind's non JSON-RPC connections to litecoin network?
Bitcoind parameter -maxconnections does not seem to work. I would like to be able to let any computer (or miner) from the specified subnet connect (using rpcallowip= in litecoin.conf) to my litecoind, but limit outgoing connections. Is that possible somehow? Thank you
Red Emerald
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March 15, 2012, 11:56:49 PM
 #1535

Hello, to steer the discussion somewhere else I have a technical question. Is it possible to limit litecoind's non JSON-RPC connections to litecoin network?
Bitcoind parameter -maxconnections does not seem to work. I would like to be able to let any computer (or miner) from the specified subnet connect (using rpcallowip= in litecoin.conf) to my litecoind, but limit outgoing connections. Is that possible somehow? Thank you
I think you would be best off playing with firewall rules to accomplish this.

fanquake
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March 16, 2012, 12:18:44 AM
 #1536

Coblee. If you're working on something can you at least let us know? I'm starting to think that litecoin has been abandoned.

I've been working on putting p2pool in the client, but I'm no longer sure if there's enough demand for that. Let me open this up. What do people think needs to be improved with Litecoin?

Well what possibilities have you looked into as far as merchants looking into accepting LTC for payment or maybe LTC merchant solutions?

I think this thread is kinda aimed at that https://bitcointalk.org/index.php?topic=63092.0
Cosbycoin
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March 16, 2012, 01:08:03 AM
 #1537

Coblee. If you're working on something can you at least let us know? I'm starting to think that litecoin has been abandoned.

I've been working on putting p2pool in the client, but I'm no longer sure if there's enough demand for that. Let me open this up. What do people think needs to be improved with Litecoin?

Well what possibilities have you looked into as far as merchants looking into accepting LTC for payment or maybe LTC merchant solutions?

I think this thread is kinda aimed at that https://bitcointalk.org/index.php?topic=63092.0

I tipped ya a cool 100 LTC!
tacotime
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March 16, 2012, 03:46:04 AM
 #1538

Coblee. If you're working on something can you at least let us know? I'm starting to think that litecoin has been abandoned.

I've been working on putting p2pool in the client, but I'm no longer sure if there's enough demand for that. Let me open this up. What do people think needs to be improved with Litecoin?

If the chain lasts longer than tonight that p2pool default mining should definitely be implemented...  According to the pool-x pie chart all the pools except litecoinpool.org and p2pool appear to be getting DDoS'd right now.  Having the bulk of mining in a decentralized pool should mitigate the likelihood of a single pool host 51% attacking by DDoSing the other private pools.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
fanquake
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March 16, 2012, 04:01:49 AM
 #1539

I tipped ya a cool 100 LTC!

ha, cheers mate
kano
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March 16, 2012, 05:14:11 AM
 #1540

Coblee. If you're working on something can you at least let us know? I'm starting to think that litecoin has been abandoned.

I've been working on putting p2pool in the client, but I'm no longer sure if there's enough demand for that. Let me open this up. What do people think needs to be improved with Litecoin?

If the chain lasts longer than tonight that p2pool default mining should definitely be implemented...  According to the pool-x pie chart all the pools except litecoinpool.org and p2pool appear to be getting DDoS'd right now.  Having the bulk of mining in a decentralized pool should mitigate the likelihood of a single pool host 51% attacking by DDoSing the other private pools.
Then either you have completely misread the chart or the chart is wrong.

Edit: however, since no such bitcoin chart is ever correct since it's based on block submissions then it's possibly a case of both Smiley

Pool: https://kano.is BTC: 1KanoiBupPiZfkwqB7rfLXAzPnoTshAVmb
CKPool and CGMiner developer, IRC FreeNode #ckpool and #cgminer kanoi
Help keep Bitcoin secure by mining on pools with Stratum, the best protocol to mine Bitcoins with ASIC hardware
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