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

[patrike]

Going for X11 will make Litecoin a popular target for botnets - right? And if you want something more power efficient, then ASICs are really the way forward.

In general, just changing algorithms for existings coins doesn't sound like a way to add stability to the crypto coins. And developing ASICs for X11 is also possible. Change algorithm next year again? No one will ever take the coins seriously if hard forks are created everytime someone is afraid that his GPU doesn't generate enough profit.

[1713501701]

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[Coindgr]

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

We cannot say it was really a ninja launch, there was a thread mentioning that a new coin would be launched. Just the hour of the launch wasn't mentioned.

Regarding the 7am launch time, depends which country you live in.

But this thread is for discussing the X11 for LTC, ASICS will probably make the price go up, but they'll stay in the hands of few.

[Coindgr]

Going for X11 will make Litecoin a popular target for botnets - right? And if you want something more power efficient, then ASICs are really the way forward.

In general, just changing algorithms for existings coins doesn't sound like a way to add stability to the crypto coins. And developing ASICs for X11 is also possible. Change algorithm next year again? No one will ever take the coins seriously if hard forks are created everytime someone is afraid that his GPU doesn't generate enough profit.

If there is one hard fork to LTC, probably company's won't invest money to develop ASICs to new algo, because there would be a high probability that again a new algo would come.

[butjust41day]

After convincing so many that LTC is silver to bitcoins gold. We need to change it like it isn't good enough? Seems odd.

[Xdragon]

without ASICs LTC will never get to the moon  

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

This is because you are total n00b. First BTC ASICs arrived in early 2013, and than huge amount in september-october of 2013. And then in november booom, BTC price explodes. If there were not BTC ASICs, today BTC price would be around 30 USD max. ASICs are next step for every major crypto.

[coins101]

copy DRK,this coin will certainly not succeed

just mine darkcoin.....its at the stage litecoin was at in late 2012 - but with better features.

[coins101]

Is there a mailing list I can join? Also, with out a substantial amount of hash to find blocks at the current difficulty how are you going to continue the chain?

We expect enough GPU miners to stay on Litecoin, the coin itself doesn't change, only the algorithm does.
We could calculate a drop in difficulty when the coin is hardforked, to anticipate the loss of hashingpower from existing scrypt ASICS but we doubt if it is needed.

A lot of GPU miners are moving over to X11 already.
Hirocoin and Darkcoin have a great future ahead.

Hirocoin and Darkcoin have a great future ahead.

[stacksmasher]

This is a surefire way to kill the coin. Take a look at "Hirocoin" for example, a botnet is creating 600k a day and lets face it when the others catch on its going to be a bloodbath.

[DubFX]

I support this too, but you will need alot of hashing power won't you?

[xingqiaoyin]

This is a blantant scheme to HIJACK LTC
Changing algo is thinking from Miner's Perspective.
I don't think people who are  pure traders of LTC
will appreciate it when they found out they are having
problem sending and receiving coins because some
rookies decide to hijack the transaction processing
method from "scrypt" to "x11".

[lulutis2000]

Is there a mailing list I can join? Also, with out a substantial amount of hash to find blocks at the current difficulty how are you going to continue the chain?

We expect enough GPU miners to stay on Litecoin, the coin itself doesn't change, only the algorithm does.
We could calculate a drop in difficulty when the coin is hardforked, to anticipate the loss of hashingpower from existing scrypt ASICS but we doubt if it is needed.

A lot of GPU miners are moving over to X11 already.
Hirocoin and Darkcoin have a great future ahead.

Hirocoin and Darkcoin have a great future ahead.

+1 Darkcoin will be so big...

[Coindgr]

Is there a mailing list I can join? Also, with out a substantial amount of hash to find blocks at the current difficulty how are you going to continue the chain?

We expect enough GPU miners to stay on Litecoin, the coin itself doesn't change, only the algorithm does.
We could calculate a drop in difficulty when the coin is hardforked, to anticipate the loss of hashingpower from existing scrypt ASICS but we doubt if it is needed.

A lot of GPU miners are moving over to X11 already.
Hirocoin and Darkcoin have a great future ahead.

Hirocoin and Darkcoin have a great future ahead.

[Beeker]

This is a blantant scheme to HIJACK LTC
Changing algo is thinking from Miner's Perspective.
I don't think people who are  pure traders of LTC
will appreciate it when they found out they are having
problem sending and receiving coins because some
rookies decide to hijack the transaction processing
method from "scrypt" to "x11".

Please, don't spread FUD.

When a majority supports this hardfork, there's no "hijacking". It's blockchain democracy.

It will probably take months to prepare everything and we will be careful.
All of us have a big stake in LTC and we won't take the risk to see it vaporize.

We are not satisfied with current development for Litecoin, it's very conservative, no decisions are made to secure it's future.
And as I said before, block 564,480 isn't set in concrete. There's a lot of work to be done.

[butjust41day]

I talked to a guy with a farm that has over 200 GPUs. He supports this. It scares him that a little guy can buy an ASIC device and blow him away in hashing power. Much investment so little hashing.

[El Dude]

This won't take off no exchange will switch to this retarded version of Litecoin.

[romang]

Just leave it alone. Change is good

[Wirly]

What are you so scared of? Let asic take over scrypt coins then gpu farms can start supporting other coins that are more asic resistant. The value of any coin is in its community, which leads to global acceptance. Grow the community and the coin becomes more valuable

[DubFX]

This won't take off no exchange will switch to this retarded version of Litecoin.

I think that they would go the way 51% will...

[Joerii]

Is this thread really going to reach 10 pages before the

APRIL FOOLS !

post ?

[Hueristic]

decentralized = anti ASIC
ASIC gives the Hash to a few people only. The idea of LTC was anti ASIC.

So go for it

THIS.