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Author Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched!  (Read 782858 times)
divergenta
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July 04, 2012, 12:40:10 PM
 #1841

Does exist any binary (.deb?) version yet? I'm apparently to retarded to compile it myself.  Cool

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crazy_rabbit
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RUM AND CARROTS: A PIRATE LIFE FOR ME


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July 04, 2012, 04:57:53 PM
 #1842

Thanks.  All I have to mine on is a Q6600, which according to the hardware sheet would generate somewhere around 21 KH/s.  And according to this calculator (http://www.litecoinpool.org/calc?hashrate=21&difficulty=1.87537559), about $2.44/month.  Not worth it!

But thanks for the response.  Wink

Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short.
Still not worth it.  If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason.  Instead, it would be much smarter to put that $9 into the coins themselves.  Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC.

Mining at a loss makes no sense.  Buy instead of mine at that point.

You are correct if your purchases of coins aren't large enough to change the price of LTC significantly. Otherwise, all the money you might have spent on mining might be large enough to dramatically alter the price of LTC and thus- quickly make it more expensive. So at the end it would be really tricky to calculate exactly how much better off you end up.

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ildubbioso
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July 05, 2012, 10:31:54 PM
 #1843

But is possible to encrypt the wallet? The option is disabled yet.

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coblee
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July 12, 2012, 11:09:49 AM
 #1844

Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.


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July 12, 2012, 11:19:19 AM
 #1845

Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.


Excellent! Good work guys!

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doublec
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July 12, 2012, 11:33:58 AM
 #1846

The new code will have all the recent Bitcoin fixes.
The code doesn't seem to have changed the switch on times for BIP 16 and BIP 30 in main.cpp. This can cause issues depending on whether the new client or the old client has majority computing power and whether it hits this code. You might want to change the dates to a future time such that it turns on when it's likely more people are running the new code. You can convert the date formats at a site like http://www.convert-unix-time.com. Or have you turned off the relevant code somewhere else? If so, disregard :-)
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July 12, 2012, 03:19:16 PM
 #1847

Thanks.  All I have to mine on is a Q6600, which according to the hardware sheet would generate somewhere around 21 KH/s.  And according to this calculator (http://www.litecoinpool.org/calc?hashrate=21&difficulty=1.87537559), about $2.44/month.  Not worth it!

But thanks for the response.  Wink

Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short.
Still not worth it.  If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason.  Instead, it would be much smarter to put that $9 into the coins themselves.  Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC.

Mining at a loss makes no sense.  Buy instead of mine at that point.

Yes you have the right idea. Some mine for the novelty of mining despite the loss.

Early bitcoin miners mined at a loss too. It was for the novelty and look at them now with their stashes of BTC  Grin
Early bitcoin miners who were mining at a loss also could have had even larger stashes of BTC if they had bought instead of mined.

I can understand it from the novelty or hobby perspective, but from any other perspective, especially financial, it just doesn't make sense.

I remember you posting this back in early 2011 when I first found out about bitcoin.  I had bought a mining rig in April because I wanted to hedge against the price falling with the possibility of selling off the hardware I bought.  But then, as you correctly pointed out, I was still speculating that he price would rise, and thus it'd be better to just buy the coins directly since I'd get a lot more of them.  It wasn't long after that that I wired a few thousand to MtGox, and that was probably the luckiest financial move I've ever made in terms of ROI.
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July 12, 2012, 03:45:03 PM
 #1848

The new code will have all the recent Bitcoin fixes.
The code doesn't seem to have changed the switch on times for BIP 16 and BIP 30 in main.cpp. This can cause issues depending on whether the new client or the old client has majority computing power and whether it hits this code. You might want to change the dates to a future time such that it turns on when it's likely more people are running the new code. You can convert the date formats at a site like http://www.convert-unix-time.com. Or have you turned off the relevant code somewhere else? If so, disregard :-)

Thanks. I will change those times to a future date.

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July 12, 2012, 07:25:59 PM
 #1849

I will be building in Litecoin support next week since the new version is coming nearer. Any merchants wanting to join me?

Electrum: the convenience of a web wallet, without the risks | Bytesized Seedboxes BTC/LTC supported
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July 12, 2012, 09:50:46 PM
 #1850

Thanks.  All I have to mine on is a Q6600, which according to the hardware sheet would generate somewhere around 21 KH/s.  And according to this calculator (http://www.litecoinpool.org/calc?hashrate=21&difficulty=1.87537559), about $2.44/month.  Not worth it!

But thanks for the response.  Wink

Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short.
Still not worth it.  If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason.  Instead, it would be much smarter to put that $9 into the coins themselves.  Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC.

Mining at a loss makes no sense.  Buy instead of mine at that point.

Yes you have the right idea. Some mine for the novelty of mining despite the loss.

Early bitcoin miners mined at a loss too. It was for the novelty and look at them now with their stashes of BTC  Grin
Early bitcoin miners who were mining at a loss also could have had even larger stashes of BTC if they had bought instead of mined.

I can understand it from the novelty or hobby perspective, but from any other perspective, especially financial, it just doesn't make sense.

I remember you posting this back in early 2011 when I first found out about bitcoin.  I had bought a mining rig in April because I wanted to hedge against the price falling with the possibility of selling off the hardware I bought.  But then, as you correctly pointed out, I was still speculating that he price would rise, and thus it'd be better to just buy the coins directly since I'd get a lot more of them.  It wasn't long after that that I wired a few thousand to MtGox, and that was probably the luckiest financial move I've ever made in terms of ROI.

I think there is more then the novelty here, mining really gets you involved in the community. If I weren't mining LTC I wouldn't be stalking the Chatroom at BTC-E or bitcointalk. I could have bought at Mt.Gox and been happy living my normal life.

But tweaking ones miner, sharing ideas, testing things, really brings you into direct-ish contact with other people who are like minded, and that's healthy for everyone in the community.

I suspect that long run, much like the original "gold rush" the real long term profit will be made elsewhere with companies and services that service the business. (Butterfly labs must be doing nicely for example). And in time when I learn how to code well and contribute in other ways, I will do so- in the meantime- the couple hundred coins per day are a nice sense of "Ownership".

Besides, when I tell more and more people about Crypto, it helps to show them that I'm "making them". It comes across as a much more serious 'hobby' then just speculation. :-)


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ildubbioso
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July 12, 2012, 09:53:50 PM
 #1851

sorry but. . . is possible to encrypt the wallet? The option is disabled yet.

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Tachikoma
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July 12, 2012, 09:59:55 PM
 #1852

I was able to encrypt my wallet using the latest git version.

Electrum: the convenience of a web wallet, without the risks | Bytesized Seedboxes BTC/LTC supported
ildubbioso
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July 12, 2012, 10:04:56 PM
 #1853

I was able to encrypt my wallet using the latest git version.

sorry but how can I download it? If i click "Downloads" there are files for MAC or for the miners

edit: sorry I made it

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ildubbioso
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July 12, 2012, 10:11:54 PM
 #1854

sorry again but how can I install it? There are no .exe files  Huh

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pooler
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July 12, 2012, 10:19:39 PM
 #1855

sorry again but how can I install it? There are no .exe files  Huh

There is still no official Windows distribution of the latest version of Litecoin, but one will be released soon.

BTC: 15MRTcUweNVJbhTyH5rq9aeSdyigFrskqE · LTC: LTCPooLqTK1SANSNeTR63GbGwabTKEkuS7
ildubbioso
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July 12, 2012, 10:25:33 PM
 #1856


There is still no official Windows distribution of the latest version of Litecoin, but one will be released soon.


Thank you. I will stay tuned

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July 12, 2012, 10:28:48 PM
 #1857

Hi!

 Can we work to bring Litecoin binaries do Ubuntu, using Ubuntu PPA repositories?

 Just like Bitcoin PPA?

Thanks!
Thiago

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July 13, 2012, 06:24:41 PM
 #1858

Announcement!

Now that we have a couple more Litecoin developers, I figure we should move away from hosting the source under my username. So I'm announcing a new location for the Litecoin project: https://github.com/litecoin-project/litecoin

With the help from pooler and Fanquake, I rebranched from the latest bitcoin code and ported the Litecoin changes over. The new code will have all the recent Bitcoin fixes. Please help us test it out. If you are on Linux, just grab the source and build it yourself. We are currently working on creating a Windows binary. Stay tuned.

This means that the wiki has been moved to the new repo also: https://github.com/litecoin-project/litecoin/wiki
litecoin.info will point to the new wiki location very soon.

New clients are here!
Windows (zip): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-win32.zip
Windows (exe): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-win32-setup.exe
Linux (tgz, 32/64-bit): https://github.com/downloads/litecoin-project/litecoin/litecoin-0.6.3-linux.tar.gz

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July 13, 2012, 06:33:57 PM
 #1859

In most places, i see bitcoin logo, instead of litecoin.
coblee
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July 13, 2012, 06:35:39 PM
 #1860

In most places, i see bitcoin logo, instead of litecoin.

When you run setup.exe, it shows the bitcoin logo. That will be fixed. Where else are you seeing the bitcoin logo?

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