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

[StewartJ]

LTC is back from the dead !  Woohoo 

When did it die...or go into a coma?

There was a short period where there was only about 20 BTC buy side on BTC-E and it looked like it might go to the dreaded 0.0001 value.

Seems to have been actively traded these last few days on both exchanges, up to 0.001 now?

The only reason I found out about Litecoins is someone posted a few days back they wanted to buy 800 Litecoins
on the "Goods" forum.  Stealth marketing... 

Is the mining activity fairly robust now for Litecoins? I seem to get that impression on the Alt Curr Forum and on this thread.

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[1713254965]

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[tacotime]

Is the mining activity fairly robust now for Litecoins? I seem to get that impression on the Alt Curr Forum and on this thread.

Robust but suspicious...  ~70% of the mining power is non-pool or private pool, and in the past it has been strongly botnet mined.  But it's still surviving.

[StewartJ]

The sell price of LTC a few days ago was around 0.0009998.

Tonight the sell price on BTC-E is 0.005656 ?

Is there something going on?

[Vanderbleek]

The sell price of LTC a few days ago was around 0.0009998.

Tonight the sell price on BTC-E is 0.005656 ?

Is there something going on?

Are you looking at LTC/USD or LTC/BTC?

[StewartJ]

The sell price of LTC a few days ago was around 0.0009998.

Tonight the sell price on BTC-E is 0.005656 ?

Is there something going on?

Are you looking at LTC/USD or LTC/BTC?

Looking at LTC/USD for now. Looks more normal on the btc side.

Edit: sorry, saw something that was not there. It's all normal.

[wndrbr3d]

Looks like the Loch Ness Miner is back. Scary that someone can throw that much hashing power at the LTC network. Looks like they're super close to the 51% mark.

[breel]

Add a known node manually to the config file, then restart litecoin, this does the trick (sometimes). Once it started downloading you can then take out the node from the conf file.

How do I find a node?

Thanks

Any one pretty please?

[btc_artist]

Add a known node manually to the config file, then restart litecoin, this does the trick (sometimes). Once it started downloading you can then take out the node from the conf file.

How do I find a node?

Thanks

Any one pretty please?

Did you try looking in debug.log to see what's going on?

Also, there might be a node at 85.181.140.125:9333 https://bitcointalk.org/index.php?topic=47417.msg572045;topicseen#msg572045

[breel]

Tried that ip but not any better.

On the other hand the debug log is interesting:

IRC connect failed
IRC waiting 381 seconds to reconnect
connection timeout
IRC connect failed
IRC waiting 479 seconds to reconnect
connection timeout
IRC connect failed
IRC waiting 586 seconds to reconnect
connection timeout

but not sure what to make out of it.

Thanks

[btc_artist]

I wonder if the IRC server is down or rejecting your request?

[Kumala]

Use the IP address of Vircurex.com   It's a node too. But pleace remove it once your blocks are loaded and things work fine.

[breel]

This one is working thanks a lot, I'll remove it once I get to 100%.


edit: It worked just fine thank you!

[btc_artist]

This one is working thanks a lot, I'll remove it once I get to 100%.


edit: It worked just fine thank you!

The client caches nodes that it has connected to in the past.  So you should be good if you start it up with the vircurex IP, wait a few minutes, remove the addnode line from your conf file, and start back up again.

[PunkAs]

Litecoin rules, hope it continues to increase in value.

[StewartJ]

Litecoin rules, hope it continues to increase in value.

The sell order prices on BTC-E seem to be going up. Very nice!

[steelhouse]

161 BTC volume for LTC today already at btc-e.com is there something up?

[interlagos]

There is another hot topic - multisig transactions for better wallet security.

What if litecoin implements BIP17 proposal? The bitcoin crowd seems to be slowly converging on BIP16.
There is a heated debate over here:
https://bitcointalk.org/index.php?topic=61125.0

This might bring some life and interest back into litecoin and it will truly compliment bitcoin by selecting a competing solution.
I think I have posted about it here a few days ago, but nobody seemed to pay attention.

Coblee, what do you think?

That's an interesting idea. I will look into it. Will need to weight the benefit of this versus the cost of having to maintain a separate codebase than Bitcoin. Unfortunately, there aren't that many people working on Litecoin (only me right now), so if BIP17 introduces a security hole, that might be disastrous. So I have to be careful there.

In the near future, I will merge in the latest bitcoin code and build a new Litecoin client. This will turn wallet encryption back on. Stay tuned.

It seems that BIP17 has a problem when support goes below 50% all new multisig transactions become easily redeemable by everyone.
Since litecoin hashpower fluctuates between 15Mhs and 30Mhs this might be a serious problem.

So I agree that we should be careful here and not rush things, maybe wait for a better solution, like BIP22 by Mike Caldwell (Casascius).
https://bitcointalk.org/index.php?topic=62181.0

[tacotime]

Holy balls, price explosion today.  This is what happens when you mine and hold guys! 

[oscer]

Holy balls, price explosion today.  This is what happens when you mine and hold guys! 

This is good

[coblee]

New windows client release: https://github.com/downloads/coblee/litecoin/litecoin-windows-client-0.5.0.9.zip

This just includes a small fix that addresses spam transactions for those of you still having problems with a bloated wallet.  Specifically, it includes this commit: https://github.com/coblee/litecoin/commit/c61d9e9717217c521c8746630c732347711cc7b5
Basically, when scanning blocks and transactions, it will ignore the transaction if the output is less than MinInput (defaults to 0.0001 ltc, but can be changed). So if you do a rescan, all the spam transactions will no longer be in your wallet.