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

[Ghepetto]

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.

+53 bazillion

[1714001809]

1714001809

[Philll90]

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.

I fully agree with you, but a hard fork isn't the right way to solve this problem.

[pyromaniac]

We already have Bitcoin Scrypt.  Born dead currency without future.
http://www.youtube.com/watch?v=eBDi0iM2kcU

[Cryptos2go]

To all the people wanting to hardfork LTC. You clearly do not understand the reason for LTC so I will explain it.

Litecoin was made to be ASIC resistant BECAUSE: Litecoin will not be affected by ASIC and benefit from ASIC.

Also Because Reasons.

[Dallas5]

To all the people wanting to hardfork LTC. You clearly do not understand the reason for LTC so I will explain it.

Litecoin was made to be ASIC resistant BECAUSE: Litecoin will not be affected by ASIC and benefit from ASIC.

Also Because Reasons.

Litecoin was made to be resistent to current SHA256 asics, only recently they started creating and selling scrypt asics. Changing coin algos will lose peoples trust in crypto currency.

[Philll90]

To all the people wanting to hardfork LTC. You clearly do not understand the reason for LTC so I will explain it.

Litecoin was made to be ASIC resistant BECAUSE: Litecoin will not be affected by ASIC and benefit from ASIC.

Also Because Reasons.

Litecoin was made to be resistent to current SHA256 asics, only recently they started creating and selling scrypt asics. Changing coin algos will lose peoples trust in crypto currency.

+1

[Cryptos2go]

To all the people wanting to hardfork LTC. You clearly do not understand the reason for LTC so I will explain it.

Litecoin was made to be ASIC resistant BECAUSE: Litecoin will not be affected by ASIC and benefit from ASIC.

Also Because Reasons.

Litecoin was made to be resistent to current SHA256 asics, only recently they started creating and selling scrypt asics. Changing coin algos will lose peoples trust in crypto currency.

Agreed.

Also 90% of network run by 10% of miners will lose peoples trust in crypto currency.

We are just going to have to agree to agree that this is a not a no win-win situation.

[xingqiaoyin]

Beeker is clearly a rookie he mentioned hardforking LTC will be like hardforking PXC.

Uh oh...beeker not only a rookie but also on drug.

PXC was thousand dollars market cap coin. LTC is a hundred million dollars market cap coin.
PXC devs went awol and it was the right thing to do.
LTC devs are doing their job you're trying to hijack their job it's not the right thing to do.

[dwolfx]

Hardforking BTC and LTC to X11 would be pretty awesome.

And it would be a great way to stick it to the mega banker elite class who invested billions in Asic hardware.

Wtf is the point of crypto if a bank can simply mine all the coins themselves, the entire point of crypto was to get away from elitist bankers, and to make it so that everyone with a home computer can participate in the creation, security and use of their currency.

Asic hardware , just means that we are moving from one slave master to another, or in this case the same slave master but in a different system.

Kind of pointless.


Best thing for crypto would be if Asics were impossible.


In my eyes, litecoin is a failure, it failed with its mission statement which was to be asic resistant, the entire purpose of the coin was Asic resistance, and the price reflects that failure today.
I don't mine LTC , and have not mined it for a while, even though its still profitable, because I just don't see it having any real future.

The strongest algo will win in the end.
All these coins are here to test which algo is the
-Fastest
-Most Secure
-Most feature packed

Litecoins standard scrypt algo is none of the above and hasn't been for some time.
New dynamic algo coins are the future
things like N-factor , scrypt-jane etc.... etc...


The entire point of all crypto, is to get away from banksters, the algo has to succeed in that by resisting hardware that bankers can buy up in droves to take over the coin.

[BTCspoon]

[techlover]

Litecoin now stands on the 2nd place behind Bitcoin, it is very difficult to surpass Bitcoin even ASIC comes.
ASIC will make Litecoin lose more supports, and in the end only people with ASIC will mine this coin.
Look at current situation, coins such as Darkcoin, etc are taking the place of Litecoin if this problem is not solved.
Litecoin has long been following Bitcoin, and Bitcoin is kind of protecting Litecoin, because whatever problem happens will happen in Bitcoin first.
However, this time will be different.
Bitcoin do not need to be changed after ASIC comes doesn't mean Litecoin can follow it.
If Litecoin do not make a change, the 2nd place will be largely questioned.


I see people saying: "Litecoin will gain value after ASIC comes, because Bitcoin gain value".
The reason Bitcoin gain value is because it is the No.1. All altcoin prices are basically based on it.
How about Litecoin? I don't think so.

[TheMage]

From now on, here is my standard reply to anyone who wants to change the LTC POW

[MarketNeutral]

I concur with Coblee's statement on the litecoin forum
https://litecointalk.org/index.php?topic=18166.0
And Warren, too.


Well said! 

[Jacques21]

Just mine Ultracoin with your gpus when scrypt asics take over litecoin

[SxC]

Just mine Ultracoin with your gpus when scrypt asics take over litecoin

Ultracoin is that the coin thats supa fast

with a great community behind it

and ofc going on BTC-e in May 

[Beeker]

We feel the 65% in the poll is a pretty convincing number for us to continue on our project.

The original developers vote against but Litecoin is not owned by them.
Litecoin is owned by the community.

The developers try to spread FUD, we expected this.
Phase 2 of project "LTC 2 X11" will start in 3 weeks from now.
We will contact pool operators of major pools and exchanges to make the transition as smooth as possible.

If pools and or exchanges won't follow us, we understand we can't finish our project. We need their support for this to succeed.
I expect they will be contacted by Coblee too, so we really need to convince them.

Thanks for your support so far!

[cryptodevil]

@Beeker, please address my question from earlier in the thread about whether you are using someone else's forum account for these discussion.

You clearly are not the same person evidenced by your posting history.

So the question remains, why are you using somebody else's account?

[ivanlabrie]

We feel the 65% in the poll is a pretty convincing number for us to continue on our project.

The original developers vote against but Litecoin is not owned by them.
Litecoin is owned by the community.

The developers try to spread FUD, we expected this.
Phase 2 of project "LTC 2 X11" will start in 3 weeks from now.
We will contact pool operators of major pools and exchanges to make the transition as smooth as possible.

If pools and or exchanges won't follow us, we understand we can't finish our project. We need their support for this to succeed.
I expect they will be contacted by Coblee too, so we really need to convince them.

Thanks for your support so far!

Why x11? It can easily be ported to asic, has a low memory footprint and that's the main deterrent, vram chip cost.
Variable n factor with shorter schedules would be way better.

[Beeker]

@Beeker, please address my question from earlier in the thread about whether you are using someone else's forum account for these discussion.

You clearly are not the same person evidenced by your posting history.

So the question remains, why are you using somebody else's account?

Thanks, we already addressed this:

Thanks for your reply.

We have thought about this.

Our group is small right now, 2 developers and 3 people (including myself) for PR and communication.

User Beeker is involved in this too and we use his account for the first weeks of communicating to the Bitcointalk community.
2 of us are well known hero members on Bitcointalk but won't yet disclose our identity until we think there's enough community support to get into the next phase of this project.

We understand the challenges ahead and we hope to get the main LTC team on our side, one they realize what LTC is facing.

To battle Bitcoin we need progressive thinking and a long-term vision for LTC.

[ghur]

continue on our project.

Oh great. I'll have to go get some more popcorn.

I thought this display of comedy was already over. But here comes the second act.