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Author Topic: [ANN] Litecoin - a lite version of Bitcoin. Launched!  (Read 1148608 times)
roiderats
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April 09, 2017, 04:18:08 PM
 #3241

The point is that over time LTC will be also taken by bitmain and bitmain will have faster asics than those that they are selling to others Cheesy...

The rumour is that AMD has a cpu-mining farm almost read for LTC. They're using their regular cpus that just fail quality control so they can't sell them to consumers/pc-manufacturers.
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April 09, 2017, 04:41:45 PM
 #3242

The point is that over time LTC will be also taken by bitmain and bitmain will have faster asics than those that they are selling to others Cheesy...

The rumour is that AMD has a cpu-mining farm almost read for LTC. They're using their regular cpus that just fail quality control so they can't sell them to consumers/pc-manufacturers.

But bitmain have history behind of rekting clients while AMD rather not : ).
Bitmain sells worst BTC asics and keeps beteer for themselves so they are doing quite against.
Anyway man this is pathetic how is played form bitmain only one cryto that will win on that is ETH.
And if bitmain will move to mining ETH they will move to POS.
Ehterum will be one of currency Bitmain proof i see that as quite BIG FEATURE Cheesy

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a_cat_named_joe
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April 09, 2017, 04:56:34 PM
 #3243


... If swegwit won't pass on LTC then LTC wil me same systuation like BTC where mining is controled by bitmain ...

... The point is that over time LTC will be also taken by bitmain and bitmain will have faster asics than those that they are selling to others Cheesy... like with asicboost in BTC. In LTC change can make some dedicated software or hubs since they control BTC that way then they will expand that tactic to LTC with slowing "other miners" stuff to lvl that they will buy but it will be less profitable than their ...

I understand what you are saying, but I disagree. If SegWit isn't adopted on Litecoin, I don't think things will revert to how they were. The situation has changed:

1)  Litecoin's inclusion on Coinbase will inevitably lead to increased volume. By the way, Charlie Lee is Director of Engineering at Coinbase.

2)  OMNI platform development is going ahead in the background. That has major implications for Bitcoin scalability. Litecoin without SegWit could still play an important role in OMNI 'merging' with Bitcoin to enable fast and inexpensive transactions.

3)  Even without SegWit, it is theoretically possible to proceed with Lightning Networks. Admittedly that would require some complex coding, and that with SegWit the process would be far easier and more efficient.

4)  Charlie Lee's roadmap for SegWit activation for Litecoin has caught the crypto-public's imagination. Taking coin partiality out of it, a large number of people want Litecoin to succeed. Many Bitcoin adherents, including devs, want SegWit to succeed on Litecoin.

5)  On Bitcoin, SegWit is only a partial solution to scalability. However, Litecoin has no such problem with scalability. Therefore, Lightcoin working in tandem with Bitcoin, as Charlie Lee has proposed, is a very effective solution to the Bitcoin scalability problem.

6)  I understand that the covert ASICBOOST Bitcoin exploit revealed by Greg Maxwell does not at this moment in time affect Litecoin and, that even if it were possible, it would take a long time to materialise. Litecoin miners using ASICS compete on a level playing field.

7)  SegWit will take time. It takes time for mining pools to get their heads around SegWit. You can see that in mining pools who have committed in principle, but are not signalling yet.

Cool  Other mining pools are thinking of lending a helping hand. For instance, I contacted Cryptopia, an exchange I use. They have mining pools. I asked them about signalling for SegWit on their Litecoin pool and received this reply: "This is something we are currently discussing within our team and keeping a close watch on." Considering the major impact it could have it is not too farfetched to think that other mining pools might be considering switching to Litecoin mining and signalling for SegWit.

All-in-all, a lot of people were expecting SegWit activation to happen over-night. SegWit activation will take weeks.
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April 09, 2017, 05:20:46 PM
 #3244


... If swegwit won't pass on LTC then LTC wil me same systuation like BTC where mining is controled by bitmain ...

... The point is that over time LTC will be also taken by bitmain and bitmain will have faster asics than those that they are selling to others Cheesy... like with asicboost in BTC. In LTC change can make some dedicated software or hubs since they control BTC that way then they will expand that tactic to LTC with slowing "other miners" stuff to lvl that they will buy but it will be less profitable than their ...

I understand what you are saying, but I disagree. If SegWit isn't adopted on Litecoin, I don't think things will revert to how they were. The situation has changed:

1)  Litecoin's inclusion on Coinbase will inevitably lead to increased volume. By the way, Charlie Lee is director of Engineering at Coinbase.

2)  OMNI platform development is going ahead in the background. That has major implications for Bitcoin scalability. Litecoin without SegWit could still play an important role in OMNI 'merging' with Bitcoin temporarily to enable fast and inexpensive transactions (Roger Ver take note).

3)  Even without SegWit, it is theoretically possible to proceed with Lightning Networks. Admittedly that would require some complex coding and with SegWit the process would be far easier and efficient.

4)  Charlie Lee's roadmap for SegWit activation for Litecoin has caught the crypto-public's imagination. Taking coin partiality out of it, a large number of people want Litecoin to succeed. Many Bitcoin adherents, including devs, want SegWit to succeed on Litecoin.

5)  On Bitcoin, SegWit is only a partial solution to scalability. However, Litecoin has no such problem with scalability. Therefore, Lightcoin working in tandem with Bitcoin, as Charlie Lee has proposed, is a very effective solution to the Bitcoin scalability problem.

6)  I understand that the covert ASICBOOST Bitcoin exploit revealed by Greg Maxwell does not at this moment in time affect Litecoin and, that even if it were possible, it would take a long time to materialise. Litecoin miners using ASICS compete on a level playing field.

7)  SegWit will take time. It takes time for mining pools to get their heads around SegWit. You can see that in mining pools who have committed in principle, but are not signalling yet.

Cool  Other mining pools are thinking of lending a helping hand. For instance, I contacted Cryptopia, an exchange I use. They have mining pools. I asked them about signalling for SegWit on their Litecoin pool and received this reply: "This is something we are currently discussing within our team and keeping a close watch on." Considering the major impact it could have it is not too farfetched to think that other mining pools might be considering switching to Litecoin mining and signalling for SegWit.

All-in-all, a lot of people were expecting SegWit activation to happen over-night. SegWit activation will take weeks.

I agree, just not weeks but months... Might be that even those who have pools and agrees for segwit are waiting the price to go down to buy cheap coins. They saw what a huge impact it was to price when for segwit it was needed 5% percent more, so you can only imagine what would be the reaction if its adopted... the price could go up to 3-4 times... Overall litcecoin works realy smooth and fast enough to be better than btc already!
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April 09, 2017, 06:41:04 PM
 #3245

*** fast enough to be better than btc already!

coins faster and better we have enough Smiley ETH with 15s-30s blocks then NEM 6s blocks...
But guys who givess a fuck to speed quark had 1st 30s block time and what who remember that one now.

With segwit LTC could be probably better than BTC which rather won't get segwit without USAF.

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April 09, 2017, 10:36:52 PM
 #3246

There have been big developments happening fast in the Litecoin world. It has been reported that Jihan Wu, the owner of Bitmain is trying to stop SegWit on Litecoin by aiming some of his many ASICs at mining Litecoin and not signaling for SegWit. Bitmain manufactures ASICS that, according to Greg Maxwell, contain a covert Bitcoin exploit giving advantage to some, but not to others. SegWit prevents this covert exploit.

If the reports are true and Jihan Wu is undermining the % necessary to activate SegWit, then that is just not on in my book. The percentage has been ~70% of the 75% needed. There is now a great depth of feeling that Litecoin UASF should be signaled and implemented to enable SegWit on Litecoin.

  • Charlie Lee, the creator of Litecoin, is asking that users contact exchanges and wallets with requests to support UASF: "If you support SegWit on Litecoin, talk to your wallets and exchanges about supporting UASF. See http://uasf.co < https://t.co/DfkvXw9QYA > for more info." Cf: Charlie Lee on Twitter if you are not already doing that: https://twitter.com/SatoshiLite


Let's get SegWit over and done with.
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April 10, 2017, 08:33:43 AM
 #3247

i implemented segwit on my solo mining.. but i am not sure if it worked.. how do i see if a block voted "yes" or "no" to segwit? i made block 8b0bd4ce8e8874e858c0f85ab03b0b159c6bdf511db3b502e6fa4ca213ca68d2
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April 10, 2017, 09:37:44 AM
 #3248

Nom nom nom nom thats me sucking up all the LTC on POLO and BITTREX. Ill be sure to post again with pics of me on a beach sipping margaritas laughing at the non investors in  a month.

That's cute...lol

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April 10, 2017, 05:31:38 PM
 #3249

Has segwit Already STarted ?
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April 11, 2017, 12:45:53 AM
 #3250

Just me who believe in seeing $LTC in the price of $ 165? That sad!  Cry Cheesy
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April 11, 2017, 12:54:47 AM
 #3251

Just me who believe in seeing $LTC in the price of $ 165? That sad!  Cry Cheesy
How'd you get that type of amount calculated? Litecoin could get to an expensive price and Bitcoin would be even more expensive when that happens.

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April 11, 2017, 01:00:03 AM
 #3252

Nom nom nom nom thats me sucking up all the LTC on POLO and BITTREX. Ill be sure to post again with pics of me on a beach sipping margaritas laughing at the non investors in  a month.


Aaaannnnd that is your signal to sell.
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April 11, 2017, 01:05:17 AM
 #3253

Just me who believe in seeing $LTC in the price of $ 165? That sad!  Cry Cheesy

LTC was not able to sustain its price at $10 recently. It's very hard to believe LTC could reach its highest price ever level at $165. 
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April 11, 2017, 03:55:38 AM
 #3254

Just me who believe in seeing $LTC in the price of $ 165? That sad!  Cry Cheesy

LTC was not able to sustain its price at $10 recently. It's very hard to believe LTC could reach its highest price ever level at $165.  

That was years ago when Altcoins were not that many and Scrypt was still CPU/GPU mineable, also remember the supply was a lot lower.

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April 11, 2017, 06:18:52 AM
 #3255

Litecoin is doing well these day, congrats to the team for wanting to test SegWit and now USAF.

Will keep an eye to see where both are going. Really hope SegWit gets activated.

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April 11, 2017, 01:25:45 PM
 #3256

Litecoin will be 30 by the end of may

BitSend ◢◤Clients | Source
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| Algo: XEVAN | DK3 | Masternodes
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April 11, 2017, 11:42:17 PM
 #3257

    When your grandchildren ask you what you did in the Litecoin SegWit Great War of 2017, what are you going to tell them?

    "Ask not what Litecoin can do for you,
    but what you can do for Litecoin:"



    Finally, the support for UASF is growing in the wider world. Microsoft have confirmed that they are signalling UASF and SegWit on Bitcoin: https://twitter.com/csuwildcat/status/851832163792150528                                                                                                   ][/list] Wink
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    April 12, 2017, 05:06:36 AM
     #3258

    Ehsminer Litecoin Mining Systems to Outrace Chinese Offerings
    Ehsminer, a Paris-based company specializing in IT security and worldwide promotion and adoption of cryptocurrencies, is not new to the mining industry. Haikel Ben Hmida, the company CEO, has been into mining since 2011. After ordering Bitcoin miners from Butterfly Labs he decided to launch his own mining product. The choice fell on Litecoin since that area was still uncharted with no competitors present.
    Since the launch of Litecoin, mining is still profitable. It is Bitcoin mining which is considered difficult because of the mass of big players being in place. We are thinking to realize other miners specialized in X11 and even in private algorithms. We have gained experience during the last three years of experimentation. Bitcoin uses SHA256 as the only hashing function, and if it is broken, all the network will be compromised. X11 uses a sequence of eleven scientific hashing algorithms for the proof of work, if ten of them are broken, the whole network remains working. Bitcoin cannot monopolize the cryptocurrency space.More
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    April 12, 2017, 10:15:59 AM
     #3259

    Litecoin Mining Pool BW.com Mines First SegWit Block
    Litecoin Segregated Witness (SegWit) activation appears to be creeping closer as BW mining pool mines its first SegWit block.
    The altcoin’s fortunes have increased dramatically in recent weeks on speculation SegWit would begin, despite allegations of sabotage by certain community members.
    Creator Charlie Lee broadcast the BW event via Twitter on Tuesday.
    BW controls around 6.6 percent of mining power for Litecoin, meaning that its signaling of SegWit would push overall mining support over the 75 percent boundary needed for full activation. The figure currently stands at just under 74 percent.More
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    April 12, 2017, 02:34:50 PM
     #3260

    Insiders news on Coinbase Cheesy ?
    that price jump

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