ping coblee and ltc community
Hello everyone, surprising to see LTC is still around despite, well, short recap: massive price manipulations on btc-e in 2013 - a million new altcoins being created with various alternative algorithms - scyrpt Asics finally putting gpu-mining out of business and centralizing the network - the great altcoin fall of 2014, and finally, some people are still waiting for LTC on Gox.
I have some questions for you:
How is ROI doing for any scrypt coins these days? Will scrypt even have a future? How about used Asic miners (Gridseed blades can be bought for relatively cheap right now) Would anyone even bother, is there any purpose in buying one or two to make a late transition from gpu-mining? Bitmain has apparently stopped/no interest in selling another batch of their L1's. Hmmm
How about Litecoin development? I see very little information on that here. Is there still a community, and where is it? Litecoin forum? Btc-e chat? (probably died after they introduced their 100USD limit for the trollbox, which believe it or not, used to be a chatroom for Ltc enthusiasts) Reddit? Where is everyone? Obviously not on bitcointalk.
I'm amazed as a legendary you do not know about Litecointalk.org and /r/Litecoin, and yes this is where most of the Litecoin community hangs out at. As far as RIO there are some cloud hashing companies out there that have sprung up that seem to be doing well, but I got out of mining and investing personally so I can't really comment too much on it.
as it stands LTC has no plans for any real future development. they are just going to stay scrypt and add nothing to compete with other alt's. soon to die off slowly more then likely. and as for scrypt asics i really wouldn't waste your time buying one as chances are your ROI will take alot alot alot longer then you would like. given a 100 mhs miner only gives about $13.54 US a day or 0.03657 BTC at current difficulty's, which is pretty weak considering. it really does seem the scrypt asic race will burn itself out very fast and they will all just be expensive paper weights in no time.
as for LTC it needs to move to a new cleaner algo thats not an X variant and put the power back into the hands of miners and not cooperations that can afford millions of mhs to screw out the other miners. which wont happen anyway given that was already discussed. so sad to say ltc will just die in its own time.
So I know you are just trolling, but this at least gives me an opportunity to share a PM I sent someone recently about Litecoin (some context may be lost, since its a PM).
You need to think of it this way, Litecoin is really in a league of its own. It's not the sexiest coin, and it doesnt blow the lid off of other alts, but Litecoin has something that only Bitcoin has, which is trust and age.
When I say league of it's own its like this, Litecoin is now 3 years old. Back 3 years ago (I think you were around, I was not), there wasn't all this innovation happening. Release it today, even with no pre-mine, no IPO/ICO, weeks ahead of time preparation for people to know it will be released, and it will A. go no where and B. most likely be called a scam anyways.
There is only really 1 other coin in the same boat as Litecoin with the above mentioned, Bitcoin. This is why Litecoin is not just another alt, its the Bitcoin of alts. Smiley
Release Bitcoin today as mention above and the same applies. Litecoin is beyond the point of messing with "innovations" and "changing algos" because of the substantial amount of investments in it. Third party applications build on top of the Litecoin network is the way to go, much like bitcoin. Although admittedly Litecoin does not have as many resources as Bitcoin does in order to do this, so it might be slower.
So, how many times has LTC died?
3 years worth
So, how many times has LTC died?
i never said it was already dead, i said it will die in its own time.
How many times has it been dying? It's been locked and leading BTC for over a month now. If anything is dying, it's BTC--which is down by over 75% from its peak. It's been two years since the altcoin pump and dump spam started, yet none of the new coins has been able to match or surpass Litecoin's position. There are over 1100 other coins now, why haven't any of them taken Litecoin's position even though they have so many "features" and they change algos every other day?
How much is LTC down from it's peak? I think the ath was 40$ now it's 3.71$. So litecoin lost much more in value comparing to bitcoin.
I'm owning a quite large amount of litecoin hashingpower and obv would love to see the litecoin value going up but without any development it's going to be very hard. Do you know why the litecoin foundatiom is so quiet? Why they don't add sidechain it would be skyrocket
You might find it hard to find any information on the Litecoin foundation since it doesnt exist. But the Litecoin Association does
. The Litecoin Association does not influence the development work on Litecoin, its work is rather concentrated in helping the community, merchants, and gaining wider adoption. We have open public meetings every 2 weeks on IRC and details can be found here https://litecointalk.org/index.php?topic=19434.0
Most recently, the LA has worked with Dogecoin in order to promote a charity called Liteshibes4Christmas.
The LA does quite a bit, but because we engage the community on our own forums it may not spread here to bitcointalk. Rest assured, the LA isn't quiet and work is being done (with again much less resources than The bitcoin foundation).
Thanks for your reply! Didn't come here to dis ltc or call it dead once again but serioulsy, what's going on development-wise? Why does it have such huge hashpower still? It must mean it's still more trustworthy than all other coins. Perhaps with a few innovations it would have a future?!
More trustworthy yes, my answer above explains this
Innovations, I explained this already as well (as far as the core code).
Development information can be found here https://litecointalk.org/index.php?topic=22039.0
(although I do admit more updates would be helpful). Also keep aware that our dev team also contributes to the bitcoin core code as well, which is a win win situation for all of us!