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LiteMine
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March 31, 2014, 04:40:56 PM |
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What a joke! Tech Luddites trying to stop progress... This isn't 2010 anymore, big money is coming into crypto and this project just muddies the water around a highly successful (#2) coin. Go create some crap altcoin if that is your intention.
ASIC will stratify LTC with BTC, separating it from the shit.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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dzonikg28
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March 31, 2014, 05:04:47 PM |
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What a joke! Tech Luddites trying to stop progress... This isn't 2010 anymore, big money is coming into crypto and this project just muddies the water around a highly successful (#2) coin. Go create some crap altcoin if that is your intention.
ASIC will stratify LTC with BTC, separating it from the shit.
WIth ASIC big money is GOING AWAY from cryptos .. KNCminer bought an old helicopter-hangar in northern Sweden (5.500 m2) to mine Bitcoins with their powerful minings-rigs. "We make three million swedish crones (466,000USD) everyday from mining Bitcoins and selling, says Sam Cole, CEO KNCminer." They have most network and they just mine and dump and have giant profit on expense off the others..and price goes down little by little..every $ you spend buying bitcoin big part off it go in to their pockets. |
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ivanlabrie
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March 31, 2014, 05:35:02 PM |
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What a joke! Tech Luddites trying to stop progress... This isn't 2010 anymore, big money is coming into crypto and this project just muddies the water around a highly successful (#2) coin. Go create some crap altcoin if that is your intention.
ASIC will stratify LTC with BTC, separating it from the shit.
WIth ASIC big money is GOING AWAY from cryptos .. KNCminer bought an old helicopter-hangar in northern Sweden (5.500 m2) to mine Bitcoins with their powerful minings-rigs. "We make three million swedish crones (466,000USD) everyday from mining Bitcoins and selling, says Sam Cole, CEO KNCminer." They have most network and they just mine and dump and have giant profit on expense off the others..and price goes down little by little..every $ you spend buying bitcoin big part off it go in to their pockets. QFT! People are just ignorant or brain dead... |
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Beeker (OP)
Member
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Activity: 94
Merit: 10
Meep
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March 31, 2014, 05:38:31 PM |
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What a joke! Tech Luddites trying to stop progress... This isn't 2010 anymore, big money is coming into crypto and this project just muddies the water around a highly successful (#2) coin. Go create some crap altcoin if that is your intention.
ASIC will stratify LTC with BTC, separating it from the shit.
WIth ASIC big money is GOING AWAY from cryptos .. KNCminer bought an old helicopter-hangar in northern Sweden (5.500 m2) to mine Bitcoins with their powerful minings-rigs. "We make three million swedish crones (466,000USD) everyday from mining Bitcoins and selling, says Sam Cole, CEO KNCminer." They have most network and they just mine and dump and have giant profit on expense off the others..and price goes down little by little..every $ you spend buying bitcoin big part off it go in to their pockets. QFT! People are just ignorant or brain dead... Exactly. Litecoin suffers form "the law of the handicap of a head start". Same thing killed Nokia. It made the management of Nokia afraid to make changes to their business model and products (like their OS Symbian). We don't want LTC to become the next Nokia or Kodak. If Bitcoin is Napster, let LTC become Torrents. |
Meep meep
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flower1024
Legendary
Offline
Activity: 1428
Merit: 1000
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March 31, 2014, 05:44:51 PM |
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We don't want LTC to become the next Nokia or Kodak.
If Bitcoin is Usenet, let LTC become Torrents.
fixed it for you  |
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kocur
Full Member
Offline
Activity: 140
Merit: 100
We're not in Wonderland anymore Alice
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March 31, 2014, 05:47:49 PM |
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What a joke! Tech Luddites trying to stop progress... This isn't 2010 anymore, big money is coming into crypto and this project just muddies the water around a highly successful (#2) coin. Go create some crap altcoin if that is your intention.
ASIC will stratify LTC with BTC, separating it from the shit.
WIth ASIC big money is GOING AWAY from cryptos .. KNCminer bought an old helicopter-hangar in northern Sweden (5.500 m2) to mine Bitcoins with their powerful minings-rigs. "We make three million swedish crones (466,000USD) everyday from mining Bitcoins and selling, says Sam Cole, CEO KNCminer." They have most network and they just mine and dump and have giant profit on expense off the others..and price goes down little by little..every $ you spend buying bitcoin big part off it go in to their pockets. +1 |
Community Coin: Fair & Free Distribution
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gerdab
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March 31, 2014, 05:50:24 PM |
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What a joke! Tech Luddites trying to stop progress... This isn't 2010 anymore, big money is coming into crypto and this project just muddies the water around a highly successful (#2) coin. Go create some crap altcoin if that is your intention.
ASIC will stratify LTC with BTC, separating it from the shit.
WIth ASIC big money is GOING AWAY from cryptos .. KNCminer bought an old helicopter-hangar in northern Sweden (5.500 m2) to mine Bitcoins with their powerful minings-rigs. "We make three million swedish crones (466,000USD) everyday from mining Bitcoins and selling, says Sam Cole, CEO KNCminer." They have most network and they just mine and dump and have giant profit on expense off the others..and price goes down little by little..every $ you spend buying bitcoin big part off it go in to their pockets. they made an investment, and they harvest the result of their investment! where's the problem?! BTC is not a communist project! |
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manfred
Legendary
Offline
Activity: 966
Merit: 1001
Energy is Wealth
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March 31, 2014, 05:57:35 PM |
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Something like this would kill the cryptoworld altogether. No-one would put any many in any coin as it could be done to any coin. Which one would be next Bitcoin, Doge?
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vrm86
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March 31, 2014, 05:58:37 PM |
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What a joke! Tech Luddites trying to stop progress... This isn't 2010 anymore, big money is coming into crypto and this project just muddies the water around a highly successful (#2) coin. Go create some crap altcoin if that is your intention.
ASIC will stratify LTC with BTC, separating it from the shit.
WIth ASIC big money is GOING AWAY from cryptos .. KNCminer bought an old helicopter-hangar in northern Sweden (5.500 m2) to mine Bitcoins with their powerful minings-rigs. "We make three million swedish crones (466,000USD) everyday from mining Bitcoins and selling, says Sam Cole, CEO KNCminer." They have most network and they just mine and dump and have giant profit on expense off the others..and price goes down little by little..every $ you spend buying bitcoin big part off it go in to their pockets. they made an investment, and they harvest the result of their investment! where's the problem?! BTC is not a communist project! This debunks The legend of mighty hashrate that will secure our coin (from sky falling on our heads).Also, farms like that will invest, rape and harvest not only LTC but any other profitable coin. In communism they will be executed, but no one is going to shoot that guys. They have right to act and others to react "within the law" |
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Ryota
Member
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Activity: 61
Merit: 10
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March 31, 2014, 06:47:10 PM |
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You are probably a troll or you don't know what you are talking about...
Clearly, it will take much much time and effort to make a hard fork with compatible blockchains, the people here are rather lazy, just want easy money, and won't spend time ont that.
And X11 is not a revolutionary algorithm but a mix of several sources adapted (blake, bmw, groestl, jh, keccak, skein etc.)
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Philll90
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March 31, 2014, 06:49:00 PM
Last edit: March 31, 2014, 07:40:41 PM by Philll90 |
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I'm not supporting this.
Although I don't like the future of scrypt asics, but you can't just change the coin.
Once a coin is released with an algo it must stay with this algo. Otherwise people will lose the trust in crypto, because they fear next month a coin could be with a completely different algo which lead to different prices.
Besides that the companys also invested a lot of money & work to produce asics. So it isn't illegal, just the hard work of them. Also the people who buy those asics. They invested a lot of real money, so why shouldn't they get profited from that.
It's within everybodys discretion to invest in asics or not. Nobody forbid it.
But this idea is completely stupid and could ruin not only LTC, but hurt the whole crypto market.
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TheMage
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March 31, 2014, 06:58:32 PM |
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Again, this is nothing more than a troll thread of folks trying to spread FUD.
As long as im involved with LTC this will never happen.
I'm also having doubts about this thread, considering that it was mentioned by the OP it is a group of folks who are senior members here. It sounds more like a few folks that dont want LTC to succeed and want to confuse people. Either that or they have put little thought into this (or its an April fools joke).
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NubRevealer
Newbie
Offline
Activity: 29
Merit: 0
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March 31, 2014, 07:06:41 PM |
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this is the same team behind some coin fork lately? THE 51% TEAM  , dont fall into this they already mine tons of their forked version LTC and plan this 51% attack. if anyone has the right to do algo change, is the dev. heck they not even bother to contact the dev |
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Dallas5
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March 31, 2014, 07:22:04 PM |
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Will a hard fork reset the diff starting back at 0?  |
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iraszl
Sr. Member
Offline
Activity: 266
Merit: 257
Enthusiast
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March 31, 2014, 07:42:40 PM |
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I'm not supporting this.
Although I don't like the future of scrypt asics, but you can't just change the coin.
Once a coin is released with an algo it must stay with this algo. Otherwise people will lose the trust in crypto, because they fear next month a coin could be with a completely different algo which lead to different prices.
Besides that the companys also invested a lot of money & work to produce asics. So it isn't illegal, just the hard work of them. Also the people who buy those asics. They invested a lot of real money, so why shouldn't they get profited from that.
It's within everybodys discretion to invest in asics or not. Nobody forbid it.
But this idea is completely stupid and could ruin not only LTC, but hurt the whole crypto market.
Agreed. You can't just change an algo to support your market position. Create a new coin and let them compete. |
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unamis76
Legendary
Offline
Activity: 1512
Merit: 1005
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March 31, 2014, 07:50:34 PM |
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Terrible idea, IMO. Just as the original dev's said, ASIC's won't hurt Litecoin. Besides, as people said, mining with ASIC's is much better for everyone (less expensive hardware, more profits).
And you want to fork one of the most established altcoins in existence... That is almost impossible, people are already used to Litecoin and using daily for many things, a change will not be welcome, and will cause an unnecessary split in a growing community. We have to change pools, exchanges, merchants... That's a lot of work. And besides, if both forks would co-exist that would be one hell of a confusion.
It's not worth the hassle making a fork for this. More work then benefits. If there's enough interest (and let's just say everyone is VERY interested in Litecoin), ASIC's for another algo's would appear in a heartbeat
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ibukovec
Newbie
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Activity: 25
Merit: 0
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March 31, 2014, 08:05:49 PM |
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ASIC wont hurt LTC. Are you sure? You have a few ppl with brains building ASIC's. Of course they are mining it to make profit.
Everyone sees that but most bag holder wont risk anything to change that. They have the $ now and they dont care trading is also profitable.
The devs have a lot of LTC i guess so no interest to change that.
Cant blame them, smart guys.
Sadly i seriously doubt anything will change here. Only a new coin can make the change.
With BTC at hand who need's another high value coin, something like doge could be the future.
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ivanlabrie
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March 31, 2014, 08:06:34 PM |
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ASICs = more profits for the manufacturers.
People keep repeating that blatant lie, out of ignorance I guess, that asics are cheaper and more efficient and thus more profits for the miners.
Well, NO!
You can't buy an asic NOW like you can buy gpus, and with the current pre-order mafia, it makes it impossible for anyone besided the manufacturers and their inner circle to make any money with asics.
That's just fact, I'm done with this, and lost faith on 90% of the human race right now...I can't believe the foolishness/blindness of some.
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