[Alternate cryptocurrencies]Litecoin

[Frodek]

What is Litecoin? What difference between Litecoins and Bitcoins?
(Litecoin = lite version of bitcoin?)
It is place to exchange between Bitcoin<->Litecoin?
I can't go to litecoin.org/

[322i0n]

litecoin is gpu hostile (at present) block chain. it can only be mined with cpu. this means more people with standard hardware (not gpu) can mine them and provide the required network distribution.

litecoin is still quite a new currency, developed within the last couple of months.

exchange can be found at btc-e.com

[robocop]

Sorry for the developers that created the litecoin with good ideas but litecoin isn't a improvement or alternative to the real bitcoin.

In first the 82mio. instead 21mio. Why i should buy the litecoin when the amount is the factor four from the original bitcoin?
Look the gold why guys buy gold for a high price? The answer is that gold is seldom and more a value garantuee than the trillion dollars euros and yens.

If we would use µBTC then we had today 7.5 x 10 E 12
This is enough for the whole world.

Then the GPU mining issue. I don't understand the problem because the advantage of GPU mining is even importand because the supercomputer of the world could have too much influence and the normal user don't have a chance to mine bitcoins.

For me the bitcoin is the real one and the system don't have big weakness.
I also don't understand the panic of some users that the bitcoin will not be more popular and need help and activities.
I even mean that too much activities and projects like the litecoin could make the bitcoin more complicate because the users will more and more confused see it in this thread.

Please guys let the bitcoin as it is and don't found litecoins and some other shit.
Keep quite tell it your friends and help the developers to create and improve applications for paymence.

[Frodek]

"it can only be mined with cpu"
Super!
But how it is possible? GPU can mining simultaneously, but how workproof can be gpu hostile?
What mean "lite" in litecoin? Is lightweight client, not keeping all transaction?

"the advantage of GPU mining is even importand because the supercomputer of the world could have too much influence and the normal user don't have a chance to mine bitcoins."
Is GPU hostile but not supercomputers? How with botnet?

[322i0n]

hmm! litcoin.org and litecoin.info seem to be down at the minute. The official Litecoin thread explains most of this https://bitcointalk.org/index.php?topic=47417.0

[Meizirkki]

hmm! litcoin.org and litecoin.info seem to be down at the minute. The official Litecoin thread explains most of this https://bitcointalk.org/index.php?topic=47417.0

It does? I don't see the downtime mentioned anywhere in the thread. :/

[terrytibbs]

I maintain and host both litecoin.org and litecoin.info.

I'm having server issues at the moment, which is why the sites are down. I expect to be moving to a new dedicated server in the coming week.

[jago25_98]

There's nothing lite about it. They just tweaked the blockrate for quicker transactions and swapped to CPU mining.

[CAMOPEJB]

Lite means ANYONE can mine Litecoins - you don't need powerful GPU, don't need AMD GPU
You can use any CPU you have and mine coins efficiently!

Lite means system will have less hashpower than Bitcoin (because of CPU mining) - not an issue
Lite means faster confirmations of transactions what is really important for any market or shop
Lite means nobody premined coins for himself so we have fairly distributed coins

About supercomputer hostility: just give Litecoin time to grow. Neither Bitcoin was supercomputer hostile at the beginning.

About botnet: botnet issue is solved pretty easy - identify botnet and block IPs. Forever.

[johnj]

Litecoins are an idea to supplement BTC.  I believe the analogy was 'If BTC is digital gold, then LTC is digital silver'.  LTC also doesn't attempt to compete with BTC resources - anyone mining BTC with their GPU's can mine LTC on their CPU.

LTC has only been around for a few weeks, so of course the 'inflation' is quite high, there is no real economy, etc.  It's purely speculative at the moment, but seems to be the only 'alt-chain' currently that has a chance (nmc is in a league of their own)

Edit:  LTC I believe is going to implement p2pool into the client, so hopefully LTC will be ddos-proof (in theory).

[Gabi]

Lite means ANYONE can mine Litecoins - you don't need powerful GPU, don't need AMD GPU
You can use any CPU you have and mine coins efficiently!

Lite means system will have less hashpower than Bitcoin (because of CPU mining) - not an issue
Lite means faster confirmations of transactions what is really important for any market or shop
Lite means nobody premined coins for himself so we have fairly distributed coins

About supercomputer hostility: just give Litecoin time to grow. Neither Bitcoin was supercomputer hostile at the beginning.

About botnet: botnet issue is solved pretty easy - identify botnet and block IPs. Forever.

Why people keep spamming idiocies about ip? Wake up, do you know dynamic ip?

Now you are going to reply with ip idiocy 2: ban ip range.

Yeah, let's ban a whole nation.


As for "anyone mining", it's bullshit. Try mining with a Atom or with a i7 2600 quadcore... you still need high end hardware.

[terrytibbs]

ip range

whole nation

Hmm...

[johnj]

As for "anyone mining", it's bullshit. Try mining with a Atom or with a i7 2600 quadcore... you still need high end hardware.

I mine with an i7 920 and get ~10kh/s.  Got 600 LTC so far.  Nothing major.

Note: I have no idea how a 920 compares to a 2600.

[Gabi]

An i7 920 is a high end cpu, a very good one.

[terrytibbs]

An i7 920 is a high end cpu, a very good one.

920 is mid range at most. 980-990x would be a high end.

[johnj]

An i7 920 is a high end cpu, a very good one.

ahh okay, i bought it ~2yrs ago for ~$200, I would have thought it's on the way to being outdated.

[Gabi]

Luckily not. I have an even older cpu, a Q9550 and even if the i7 920 and the i7 2600 are of course better, mine is still a good cpu.

[Gabi]

Testing it, mining litecoin with a Q9550 at stock frequency (2.83ghz): 11.2khash/s

Something is wrong with your i7 920...

[Raoul Duke]

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

[terrytibbs]

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

Go Solidcoin!