(Unofficial) [ANN] Litecoin [LTC] to X11 algorithm hardfork

[Xdragon]

without ASICs LTC will never get to the moon  

[Beeker]

without ASICs LTC will never get to the moon  

There are ASICS for LTC and I don't yet see a moon.

[Beeker]

Why not bring this to the actual Litecoin community on the LTC forums?  

Another option on the LTC forum was to fork LTC to Scrypt-N but it was never picked up by the developers.

[othe]

X11 is even worse for litecoin then the scrypt asics.


1) its easy to "asic" it, it doesnt need alot of ram thus making the production cost of chips very low, i guess you can expect awesome speeds even with fpgas...
2) Its easy to cpu mine, makes litecoin very vulnerable to botnet attacks...
3) The only reason it uses only 60% of electricity compared to scrypt is, that the miner is totally unoptimized. The reason it uses so little electricity is simply that the cards aren't working at full power...

I really doubt you get the majority of miners to this, especially not without the ltc devs supporting that, a coin without good devs is a bad investment anyway.

PS: if something like that ever happens, it has to be a community effort including the original ltc devs and not from a bunch of anonymous guys...
Imho, the opportunity was missed todo that, it has been known that scrypt asics will hit the market for several months now, this had to be done before plenty of people preordered ASICs - but it wasnt.

[nobodywanttocry]

don't get nervous,  asic came , bitcoin is still bitcoin . so do LTC.
i know your purpose , LOL.

[Joerii]

So basically Hirocoin Darckcoin without all the extra features?

Fixed for you.

Actually Hirocoin and Darkcoin both use X11.

The difference is mainly in the dynamic block reward. Hirocoin has a fixed block reward, while Darkcoin has a dynamic one. They both have some added features. Check out the Darkcoin and Hirocoin Ann :

Hirocoin : https://bitcointalk.org/index.php?topic=516349.msg5981984#msg5981984
Darkcoin : https://bitcointalk.org/index.php?topic=421615

[Raw-H]

Start a new coin or mine darkcoin. You shouldn't hardfork litecoin just because GPU's will be less profitable from it.

I'm seeing no threat from mining companies to take over the network as there are a healthy amount of competitors in the market and the hardware is shipped to the users.

[MaGNeT]

3) The only reason it uses only 60% of electricity compared to scrypt is, that the miner is totally unoptimized. The reason it uses so little electricity is simply that the cards aren't working at full power...

SHA256D mining (Bitcoin) on GPU also uses less power than scrypt.

Does that mean SHA mining for GPU is "unoptimized"?

[MaGNeT]

Start a new coin or mine darkcoin. You shouldn't hardfork litecoin just because GPU's will be less profitable from it.

I'm seeing no threat from mining companies to take over the network as there are a healthy amount of competitors in the market and the hardware is shipped to the users.

The majority will decide.

[SomeRelax]

who are you anyway?
who are in your team?
are you a developer? if so, have you or your team developed any coin?
you want to change, so why just copy&paste X11?
if you are really developers, so you can create a new algorithm or at least add some extra layer to X11
not just copying and pasting

sorry for saying this, but i think its not your specialty but if it is, you'll need litecointalk.org community support too, not just here

or maybe it's just April fool joke

[shai_]

Well the approach is different. Instead of just cloning litecoin like the many others you just try to steal the right to develop the coin. No wonder your an anonymous group.

steal the right ? it's open source
we could also fork bitcoin! its a free open source market.. no ?

anyway i suggest to the OP author to make your own coin..
many people (litecoin/bitcoin early adopters) spent a lot of money and probably litecoins to buy ASICs, won't be fair to hurt them

make your own coin or join a new coin with the POW algo. you like
there are a few new coins and algo. to choose from

[DuvajBalone]

3) The only reason it uses only 60% of electricity compared to scrypt is, that the miner is totally unoptimized. The reason it uses so little electricity is simply that the cards aren't working at full power...

SHA256D mining (Bitcoin) on GPU also uses less power than scrypt.

Does that mean SHA mining for GPU is "unoptimized"?

+1

Also I think it is April's fools joke. Anyone could start topic. Perhaps I just started topic "BTC hardfork, no more ASICs, CPU only botnet proof" lol

[kelsey]

We need the majority to support this to make this hardfork work.

Well that you certainly won't get so why waste your time?

You are not the majority, neither are we.

yes but I am not trying to fork ltc and add a dodgy ass algo that botnets could easily have a field day with. you have a snow balls chance in hell to get the majority....just a few kids who have no idea and are running down the road screaming omg asics is coming  

[Beeker]

Discussiontopic on Litecointalk.org too:

https://litecointalk.org/index.php?topic=18122.0

[Beeker]

3) The only reason it uses only 60% of electricity compared to scrypt is, that the miner is totally unoptimized. The reason it uses so little electricity is simply that the cards aren't working at full power...

SHA256D mining (Bitcoin) on GPU also uses less power than scrypt.

Does that mean SHA mining for GPU is "unoptimized"?

+1

Also I think it is April's fools joke. Anyone could start topic. Perhaps I just started topic "BTC hardfork, no more ASICs, CPU only botnet proof" lol

We didn't take AFD into account when we started talking about this topic.
This is not a joke, though we know we will have to proof that.
The project may take up to 6 months, or even longer.

If we feel we have enough support from the majority of the community, we will start to get more supporters onboard.

We love LTC and this development takeover is not hostile.

[Bigballs]

Guys, what you are discussing has already been done. Hirocoin is a litecoin clone with X11 algo. Don't make the mistake of thinking Hiro comes from Darkcoin, which most people believe. And on top of that a lot of blockchain security issues have been addressed. Hirocoin is adapting the best features available into one coin. So take a look at Hirocoin.

[losh11]

without ASICs LTC will never get to the moon  

There are ASICS for LTC and I don't yet see a moon.

Gridseed is expensive, slow and uses a lot of power.
Attempting to change the Litecoin PoW is a bad idea - I'm guessing that not a lot of people will use your fork and that will mean there will be a lot of invalids between the official wallet and this wallet.

Warren is a legit programmer working with loads of individuals who are also professionals in their fields, bugs and errors will be more common in your software. By 6 months I've calculated the difficulty to be at above 52,000 (worked out with all current ASICs in the market). The Litecoin community is attempting to keep ASICs cheap and not cost $10,000 with a ROI of 2 days then after delivery of 5 months, making the ROI 18 months.

[Amph]

Guys, what you are discussing has already been done. Hirocoin is a litecoin clone with X11 algo. Don't make the mistake of thinking Hiro comes from Darkcoin, which most people believe. And on top of that a lot of blockchain security issues have been addressed. Hirocoin is adapting the best features available into one coin. So take a look at Hirocoin.

too bad was ninja launched with huge instamine, i bet my ass that the dev has million and he probably dumped a large portion already seeing how the price is dumped recently

i'm not against instamine if there is an ann and everyone can instamine, but a ninja launch with a bad launch time(was like 7am for hirocoin) plus instamine is simply a giant scam

[shiyang1992]

Change to X11 ?
I don't like the litecoin .
This coin is just like the Dogecoin.
In 2014, it is a year for 2rd generation coins.
Such as , eth, emu, mcs, xcp, nxt ,nem,bts, nex, skycoin ,zerocoin....

[btctradingonline]

yeah, i'm really happy to get this information, it's fair for all VGA miner.