[ANN] Litecoin - a lite version of Bitcoin. Launched!

[ripper234]

What do you say to the criticism that CPU based crypto-currencies are vulnerable to botnet attacks?

I'll quote the claim from Tenebrix' FAQ:

I am firmly convinced that botnets, by virtue of need to remain somewhat covert, will not abuse their host machines too heavily with TBX minning, taking spare cycles here and there without encumbering the user too much (otherwise the malware will get noticed and exterminated), and assuming mining is lucrative, will avoid using infected machines for things that are likely to get a FBI clown car visit the formal owner of the infected box (such as transfer of highly illegal materials and attacks against legitimate infrastructure).

I don't know if I'm convinced or not, but it will be an interesting experiment to find out.

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[caston]

I seem to be getting:

./minerd --user 1 --pass 1 --url http://127.0.0.1:19333
[2011-10-09 23:49:03] Binding thread 0 to cpu 0
[2011-10-09 23:49:04] Binding thread 1 to cpu 1
[2011-10-09 23:49:05] Binding thread 2 to cpu 2
[2011-10-09 23:49:06] Binding thread 3 to cpu 3
[2011-10-09 23:49:07] 4 miner threads started, using SHA256 'scrypt' algorithm.
[2011-10-09 23:50:04] HTTP request failed: Empty reply from server
[2011-10-09 23:50:04] json_rpc_call failed, retry after 30 seconds

my litecoin.conf file is
testnet=1
rpcuser=1
rpcpassword=1

gen=0 does work and get coins and I have about four connection

There is something on port 19333 when I try nmap and telnet


Any idea what I may be doing wrong?

[terrytibbs]

I seem to be getting:

./minerd --user 1 --pass 1 --url http://127.0.0.1:19333
[2011-10-09 23:49:03] Binding thread 0 to cpu 0
[2011-10-09 23:49:04] Binding thread 1 to cpu 1
[2011-10-09 23:49:05] Binding thread 2 to cpu 2
[2011-10-09 23:49:06] Binding thread 3 to cpu 3
[2011-10-09 23:49:07] 4 miner threads started, using SHA256 'scrypt' algorithm.
[2011-10-09 23:50:04] HTTP request failed: Empty reply from server
[2011-10-09 23:50:04] json_rpc_call failed, retry after 30 seconds

my litecoin.conf file is
testnet=1
rpcuser=1
rpcpassword=1

gen=0 does work and get coins and I have about four connection

There is something on port 19333 when I try nmap and telnet


Any idea what I may be doing wrong?

Try adding rpcport=8332 to your configuration file and connecting against that port with the miner.

[michaelmclees]

./minerd --user 1 --pass 1 --url http://127.0.0.1:9332

There is something on port 19333 when I try nmap and telnet
Any idea what I may be doing wrong?

Try the 9332 I have there the default as listed in first post the 19333 is the port to open in the router to get the connections to other miners for the testnet and you may want rpcport=9332 in the .conf as well just to be sure.

That is how I have it, but I get the same error.  My guess is that my ports are closed.  With Fairbrix, this was solved with the creation of an IRC channel, I believe.

[ripper234]

Here is a thread I started about it on reddit. It got downvoted.

I want everyone to see this and have a fair chance to be an early adopter. I don't remember such a well-planned release schedule with one of the design goals being fairness - if you agree, vote it up.

[BitcoinPorn]

Here is a thread I started about it on reddit. It got downvoted.

I want everyone to see this and have a fair chance to be an early adopter. I don't remember such a well-planned release schedule with one of the design goals being fairness - if you agree, vote it up.

Wow, beat me to that idea.  I'll put up another reddit with a catchier headline tonight if yours stays downvoted.  I already had the title in mind, something along the lines of "Did You Miss Out on The Bitcoin Gold Rush? Here is Your Chance Now" or something like that.

[terrytibbs]

Wow, beat me to that idea.  I'll put up another reddit with a catchier headline tonight if yours stays downvoted.  I already had the title in mind, something along the lines of "Did You Miss Out on The Bitcoin Gold Rush? Here is Your Chance Now" or something like that.

Can you guys wait until I finish the website? I've got some minor work left but it's pretty much done.

[michaelmclees]

./minerd --user 1 --pass 1 --url http://127.0.0.1:9332

There is something on port 19333 when I try nmap and telnet
Any idea what I may be doing wrong?

Try the 9332 I have there the default as listed in first post the 19333 is the port to open in the router to get the connections to other miners for the testnet and you may want rpcport=9332 in the .conf as well just to be sure.

That is how I have it, but I get the same error.  My guess is that my ports are closed.  With Fairbrix, this was solved with the creation of an IRC channel, I believe.

I did not open any ports when testing and it went fine this was what I have for conf file for the built in miner it worked well.

Code:

miner6@miner6:~/src/litecoin-0.4.0-441/src$ cat ~/.litecoin/litecoin.conf
rpcuser=miners
rpcpassword=litecoin
rpcallowip=*
rpcport=9332
daemon=1
server=1
gen=1
testnet=1

Yeah the built in miner works well, but some people are going to want to use minerd, so it's a small kink to work out.

[BitcoinPorn]

Can you guys wait until I finish the website? I've got some minor work left but it's pretty much done.

No problem

[codemojo]

Here is a thread I started about it on reddit. It got downvoted.

I want everyone to see this and have a fair chance to be an early adopter. I don't remember such a well-planned release schedule with one of the design goals being fairness - if you agree, vote it up.

Your Reddit submission is not even under the /new section anymore: http://www.reddit.com/r/Bitcoin/new/

I love Reddit, but didn't know you can get "buried" so easily??

[grod]

Hacking a bit on CK's cgminer to support the new algorithm.  Haven't quite decided how to manage the AMD vs generic versions of scrypt.c in a good way.  It gets worse since ICC produces the best scrypt.o for the i7 using the generic version, but binaries produced by the free-as-in-beer license of that compiler can't be distributed.  I should count my blessings, at least SolarisStudio and llvm produce utterly crap code compared to profile guided output of gcc and icc so I don't have to worry about that.

I'll have to re-read the license, but I may be able to distribute the assembly output of ICC.

But at any rate, with some luck I should have the AMD/Linux guys taken care of with a nice miner a couple of days after this goes live.  Even if they have to pick the version of scrypt.c they like by hand.

[ripper234]

Hacking a bit on CK's cgminer to support the new algorithm.  Haven't quite decided how to manage the AMD vs generic versions of scrypt.c in a good way.  It gets worse since ICC produces the best scrypt.o for the i7 using the generic version, but binaries produced by the free-as-in-beer license of that compiler can't be distributed.  I should count my blessings, at least SolarisStudio and llvm produce utterly crap code compared to profile guided output of gcc and icc so I don't have to worry about that.

I'll have to re-read the license, but I may be able to distribute the assembly output of ICC.

But at any rate, with some luck I should have the AMD/Linux guys taken care of with a nice miner a couple of days after this goes live.  Even if they have to pick the version of scrypt.c they like by hand.

So, how much would I be at a disadvantages with my Widnows 7 Intel machine?

[bulanula]

Hacking a bit on CK's cgminer to support the new algorithm.  Haven't quite decided how to manage the AMD vs generic versions of scrypt.c in a good way.  It gets worse since ICC produces the best scrypt.o for the i7 using the generic version, but binaries produced by the free-as-in-beer license of that compiler can't be distributed.  I should count my blessings, at least SolarisStudio and llvm produce utterly crap code compared to profile guided output of gcc and icc so I don't have to worry about that.

I'll have to re-read the license, but I may be able to distribute the assembly output of ICC.

But at any rate, with some luck I should have the AMD/Linux guys taken care of with a nice miner a couple of days after this goes live.  Even if they have to pick the version of scrypt.c they like by hand.

So, how much would I be at a disadvantages with my Widnows 7 Intel machine?

Hehe like 3 times disadvantage. I get with my 2600K about 10 and them crappy AMD plastic shit gets 30 WTF !

[phelix]

smooth continuous difficulty retargeting based on an iir filter would be a nice feature

[ripper234]

Can you guys wait until I finish the website? I've got some minor work left but it's pretty much done.

No problem

Sorry, I just blogged about it.
I want everything to have as much chance as possible to be an early adopter.
Some people might need the extra few days to learn the subject material and make up their mind.

[michaelmclees]

Some of you probably want to use minerd for mining and are unable to without a little difficulty.

http://www.mediafire.com/?v76sfm1yiwmiz9i

All you need to do is unpack those files into your Litecoin folder and start minerd with one of the .bat's included.  You can edit the .bat files to customize how many threads you're going to use for mining and other options.

Make sure you have the lines "server=1" and "gen=0" in your litecoin.conf file.  This way, the client is run as a server for solo mining and the client is instructed to not generate coins itself.  You may set "gen=1" if you want the client to do the mining.  It's up to you.

[wknight]

Not sure why you are releasing Litecoin.. I dont see a difference between this and Fairbrix.. sure Fairbrix doesnt have an exchange but either does Litecoin.. what makes this different? Last time i checked Fairbrix is doing about 1k bricks a day.. so i guess there are still people mining it

[ripper234]

Not sure why you are releasing Litecoin.. I dont see a difference between this and Fairbrix.. sure Fairbrix doesnt have an exchange but either does Litecoin.. what makes this different? Last time i checked Fairbrix is doing about 1k bricks a day.. so i guess there are still people mining it

Two differences that I like:

1. LiteCoin was pre-announced several days in advance.
2. LiteCoin has a limited supply of coins, and pretty much follows the Bitcoin protocol.

Some might find #2 a drawback, but I think it's a good feature. Let the market speak.

[osmosis]

Fast transactions

We were impressed by the convenience of SolidCoin's fast transactions.  Although we know that fast confirmations are not necessarily as secure as Bitcoin's slower confirmations, they are very convenient for small merchants who don't need transactions to be super secure. The average Litecoin block takes 2.5 minutes, one quarter of Bitcoin's 10 minutes.  So if merchants wanted to be as safe as Bitcoin, they can wait for 4 times the number of Litecoin confirmations as compared to Bitcoin.

What convenience for merchants do they add?  6 confirms worth an hour is the same as 24 confirms worth an hour. Merchants can easily accept 0 confirm transactions. Are there any known cases of a double spend attack actually occurring?   

[terrytibbs]

smooth continuous difficulty retargeting based on an iir filter would be a nice feature

You are asking for too much man. The basic plan is this :

1. Create alternate crytocurrency ( rebrand Bitcoin to ScamCoin eg replace bitcoin in source to scamcoin etc. )
2. Launch and say it has many features and other typical BS
3.
4. PROFIT

Not even hard.

bulanula forum post template:
"OMGWTFBBQ THIS SUCKS Y U COPY BITCOIN AND CHANGE NAMEINGS O BTW CAN U HELP ME GET BETTER SPEED FROM INTEL PROCESSINGS???"