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

[worldinacoin]

oz.in at 3.2 mhash/s is taking up half of the hashing power at the moment. 

[ElectricMucus]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

[jago25_98]

Been mining for over 16 hours and no coins yet. Running mined and connecting to the client. No error messages. Approx 2x3000khash.

Also, the exchange needs a manual price... not sure what price to ask. Says 'insufficient funds' though there are funds and only one order that does not amount to more than the funds available

[ElectricMucus]

Difficulty has risen quite much don't expect a block very so often now I haven't found one in over 36h.

[terrytibbs]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

[ElectricMucus]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

[terrytibbs]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

I hope to have the current server back up in 24 hours at most, with the new one coming in two or three days.

[chieffery]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

I hope to have the current server back up in 24 hours at most, with the new one coming in two or three days.

Why are you labeled a scammer?

[terrytibbs]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

I hope to have the current server back up in 24 hours at most, with the new one coming in two or three days.

Why are you labeled a scammer?

I am in disagreement with the board admins over a business decision of mine not to refund customers when one of my suppliers went behind my back chargebacking goods I was reselling.

[chieffery]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

I hope to have the current server back up in 24 hours at most, with the new one coming in two or three days.

Why are you labeled a scammer?

I am in disagreement with the board admins over a business decision of mine not to refund customers when one of my suppliers went behind my back chargebacking goods I was reselling.

That doesn't make sense... how could a supplier do a chargeback on you when your the one buying the items from them?  You can't chargeback a physical item or a service, a chargeback is exactly that, a charge which is reversed. Can you explain what your talking about and also how this affected your customers, and why they were at fault?

[Frodek]

Mining
Here's a compiled binary for Windows:
    https://github.com/downloads/coblee/litecoin/litecoin-windows-miner-10-10-2011.zip

It will be well to options set priority below normal (low or idle)

[terrytibbs]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

I hope to have the current server back up in 24 hours at most, with the new one coming in two or three days.

Why are you labeled a scammer?

I am in disagreement with the board admins over a business decision of mine not to refund customers when one of my suppliers went behind my back chargebacking goods I was reselling.

That doesn't make sense... how could a supplier do a chargeback on you when your the one buying the items from them?  You can't chargeback a physical item or a service, a chargeback is exactly that, a charge which is reversed. Can you explain what your talking about and also how this affected your customers, and why they were at fault?

I am not going to be discussing this in this thread.
Please investigate and ask questions in the following threads:
https://bitcointalk.org/index.php?topic=43699.0
https://bitcointalk.org/index.php?topic=47551.0

Thank you.

[ChaosFox]

I like this alternate cryptocurrency so far.  I read about Tenebrix/Fairbrix a while ago, but dunno if I really liked the "No cap" bit, so decided not to jump in for the time being. I hope this reaches the same level of acceptance as, say, Namecoin.

[chieffery]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

I hope to have the current server back up in 24 hours at most, with the new one coming in two or three days.

Why are you labeled a scammer?

I am in disagreement with the board admins over a business decision of mine not to refund customers when one of my suppliers went behind my back chargebacking goods I was reselling.

That doesn't make sense... how could a supplier do a chargeback on you when your the one buying the items from them?  You can't chargeback a physical item or a service, a chargeback is exactly that, a charge which is reversed. Can you explain what your talking about and also how this affected your customers, and why they were at fault?

I am not going to be discussing this in this thread.
Please investigate and ask questions in the following threads:
https://bitcointalk.org/index.php?topic=43699.0
https://bitcointalk.org/index.php?topic=47551.0

Thank you.

You charged people money for something, gave them something else then claimed ignorance and washed your hands... frankly it was your business failure not theirs.  Your logic makes about as much sense as asking your supplier for refunds when buyer don't pay.  If your supplier was shady, that is your loss to take, not your honest paying customers...

Anyways, I luckily didn't get scammed by you, my concern is that you don't seem like a very good name to be managing the 2 domains of a new coin.

If you care about the litecoin community then you should disassociate your name from it, doesn't instill much trust having a scammer representing us.

[terrytibbs]

Lol someone is DDOSing litecoin.org in order to suppress the price.

There is a bright future thanks to those people 

This is incorrect. I am merely having server problems because of unrelated projects.

Oh sorry for the wrong assumption then.
When will it be back?

I hope to have the current server back up in 24 hours at most, with the new one coming in two or three days.

Why are you labeled a scammer?

I am in disagreement with the board admins over a business decision of mine not to refund customers when one of my suppliers went behind my back chargebacking goods I was reselling.

That doesn't make sense... how could a supplier do a chargeback on you when your the one buying the items from them?  You can't chargeback a physical item or a service, a chargeback is exactly that, a charge which is reversed. Can you explain what your talking about and also how this affected your customers, and why they were at fault?

I am not going to be discussing this in this thread.
Please investigate and ask questions in the following threads:
https://bitcointalk.org/index.php?topic=43699.0
https://bitcointalk.org/index.php?topic=47551.0

Thank you.

You charged people money for something, gave them something else then claimed ignorance and washed your hands... frankly it was your business failure not theirs.  Your logic makes about as much sense as asking your supplier for refunds when buyer don't pay.  If your supplier was shady, that is your loss to take, not your honest paying customers...

Anyways, I luckily didn't get scammed by you, my concern is that you don't seem like a very good name to be managing the 2 domains of a new coin.

If you care about the litecoin community then you should disassociate your name from it, doesn't instill much trust having a scammer representing us.

I do not manage the Litecoin domain names. They are managed by coblee, and it was his decision to point them at my servers.

[bronan]

Been mining for over 16 hours and no coins yet. Running mined and connecting to the client. No error messages. Approx 2x3000khash.

Also, the exchange needs a manual price... not sure what price to ask. Says 'insufficient funds' though there are funds and only one order that does not amount to more than the funds available

well i have been mining a short time now and some days indeed you get unlucky and won't find a block
but i made in 7 days 7 blocks divided in 4 times 1 block and one day 2 blocks received so per 24 hours about 1 block
now i have some more power at it i think cause i have 3 x 9000 khash and 2 x 14000 khash running
so i guess you probably need to be a bit more patient
do not forget that it can happen quick or slow even for me, because i think getting a block in 2 to 3 days is normal with my power

[kano]

For those who don't realise it, it is straight forward to work out how long the expected average time to get a block its.

Firstly, however, it is of course an expected average time, not an expected time.
Meaning that if you got say 1 million blocks, then your average time per block should be close to the calculated value, however, for only a few blocks, the average can vary immensely.
According to the Law of Large Numbers, the more blocks you get the closer the average should be to the expected average time.

Anyway, the expected average number of hashes to find a block is 2^32 * difficulty.
At the moment that is: 2^32 * 0.16800443 or 721,573,532 hashes.

So if you hash at 1kh/s your expected average time to find a block will be ~200 hours.
If you hash at 10kh/s your expected average will be ~20 hours.
If you hash at 100kh/s then your expected average will be ~2hours.
etc.

[Justin Bieber]

For those who don't realise it, it is straight forward to work out how long the expected average time to get a block its.

Firstly, however, it is of course an expected average time, not an expected time.
Meaning that if you got say 1 million blocks, then your average time per block should be close to the calculated value, however, for only a few blocks, the average can vary immensely.
According to the Law of Large Numbers, the more blocks you get the closer the average should be to the expected average time.

Anyway, the expected average number of hashes to find a block is 2^32 * difficulty.
At the moment that is: 2^32 * 0.16800443 or 721,573,532 hashes.

So if you hash at 1kh/s your expected average time to find a block will be ~200 hours.
If you hash at 10kh/s your expected average will be ~20 hours.
If you hash at 100kh/s then your expected average will be ~2hours.
etc.

Where did you get the 2^32 from?

[coblee]

You charged people money for something, gave them something else then claimed ignorance and washed your hands... frankly it was your business failure not theirs.  Your logic makes about as much sense as asking your supplier for refunds when buyer don't pay.  If your supplier was shady, that is your loss to take, not your honest paying customers...

Anyways, I luckily didn't get scammed by you, my concern is that you don't seem like a very good name to be managing the 2 domains of a new coin.

If you care about the litecoin community then you should disassociate your name from it, doesn't instill much trust having a scammer representing us.

I do not manage the Litecoin domain names. They are managed by coblee, and it was his decision to point them at my servers.

terrytibbs has done more for Litecoin than most people. He designed the webpage and set up the wiki and offered to host the webpages. The fact that he has a disagreement with his customers over a previous dealing has no effect on whether or not he can design a great webpage or host the webpage. Given the amount of time he's put into the project, I trust him.

And the worst he can do is basically put a malware binary as the link to the Litecoin client download. If there's any signs of that, I will definitely switch to a different host.

Note: It really shows you his character when terrytibbs continue to post with his original account. Most scammers will just create a new account and continue to scam others.

[chieffery]

You charged people money for something, gave them something else then claimed ignorance and washed your hands... frankly it was your business failure not theirs.  Your logic makes about as much sense as asking your supplier for refunds when buyer don't pay.  If your supplier was shady, that is your loss to take, not your honest paying customers...

Anyways, I luckily didn't get scammed by you, my concern is that you don't seem like a very good name to be managing the 2 domains of a new coin.

If you care about the litecoin community then you should disassociate your name from it, doesn't instill much trust having a scammer representing us.

I do not manage the Litecoin domain names. They are managed by coblee, and it was his decision to point them at my servers.

terrytibbs has done more for Litecoin than most people. He designed the webpage and set up the wiki and offered to host the webpages. The fact that he has a disagreement with his customers over a previous dealing has no effect on whether or not he can design a great webpage or host the webpage. Given the amount of time he's put into the project, I trust him.

And the worst he can do is basically put a malware binary as the link to the Litecoin client download. If there's any signs of that, I will definitely switch to a different host.

Note: It really shows you his character when terrytibbs continue to post with his original account. Most scammers will just create a new account and continue to scam others.

The website is a template, maybe took 45 min, the wiki is nearly devoid of any information and much of what actually is there, has been copy pasted from the btc wiki.  Both sites could be hosted in their current state for under $5 a month. (by the way, at the time of writing this the site is down, maybe he scammed his host too?)

The fact that he screwed over multiple good people on this forum is OK because he did you a personal favor?

Your OK with the fact that your users' computers could be compromised and only until it happens will you take action as opposed to taking preventative measures?  You realize people have more sensitive info than Litecoins on their computers right?  You should respect that more. Not very considerate to undermine the security of the general user base.

I understand you may have personal trust for him (perhaps unfounded), however letting him run the main litecoin site and wiki raises concern as to the level of respect you have for your users' security.

Note: What really shows you his character when he keeps peoples money after not delivering the purchased item, and expects others to shoulder his financial follies.

All the above is my opinion, nothing less, nothing more; this was written with the utmost concern of the community in mind and no disrespect was intended.