[POLL] Would you support a Litecoin [LTC] to X11 algorithm hardfork?

[markm]

I'd like to kill thoes scrypt ASIC vendor.

Why? It makes no sense. The coins you have mined should go up in value as the blockchain becomes more secure.

So you should be happy that all the worthwhile scrypt coins can all become massively secure if you have been mining worthwhile scrypt coins.

Of course that assumes there are any worthwhile scrypt coins in the first place. Are there?

-MarkM-

How many Scrypt ASICs did you pre-order?

None. If litecoin and DOGE continue to fragment the scrypt space instead of being merged mined together I do not expect scrypt to be worth risking.

If they do become mergable together though then I will order ASICs so as to mine the entire merged mined family of scrypt coins.

-MarkM-

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[kelsey]

gee markm you are really plugging this merge mining of late 

[pajak666]

greed greed everywhere!
purely greed motivated!

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.

YEAH COOL MAKE MY LITECOINS LESS SECURE, BY DROPPING HASHRATE YOU MAKE IT VULNERABLE TO 51% ATTACK
WE NEED ASIC's TO SECURE OUR WALLETS.

[El Dude]

And the award for stupidest thread of the day goes to OP.

[lothario]

I come from China, English is poor, X11 can better conserve power if the emergence of ASIC, I think this is a disaster, there will be a large number of players GPU helplessness exit. LTC will become the plaything of a small number of professionals. Because the fear of ASIC's, I saw a large number of miners sell graphics mining machine.

[s1gs3gv]

Please remember when you are panicking about ASICS and their presumed effect on decentralization that in a very short time ASICs will be the price of GPUs, GPU's will be just a component on a SOC in your wearable computer, and everybody will have a bunch of ASICs in their basement or garage happily mining away on scrypt coins just like GPUs do today.

Don't panic. Be happy. Enjoy the nice weather. Take a deep breath. Changes are coming …

The use of malicious negative trust to suppress free speech brings discredit to the bitcoin community

[markm]

A bunch of 4chan weenies with GPUs in their moms' basements or a bunch of serious businesses devoted to the securing of blockchains, hmm, gee, I wonder which I would rather have securing my billions for me?

-MarkM-

[lothario]

It is expected that if the high-speed ASIC appear, then a lot of graphics as well as the miners will bid farewell to LTC currency scrypt algorithms seek other currencies. The rest is just professional miners and ASIC manufacturers.

[s1gs3gv]

A bunch of 4chan weenies with GPUs in their moms' basements or a bunch of serious businesses devoted to the securing of blockchains, hmm, gee, I wonder which I would rather have securing my billions for me?

MarkM, my point is that ASICS will be as common and cheap at some point in the not too distant future as GPUs are now. In fact, they will probably be cheaper.

The issue of whom you would rather have securing your blockchain is tangental to my point.
However, I say 'the more the merrier'.

Use of malicious negative trust to suppress free speech discredits the bitcoin community

[markm]

gee markm you are really plugging this merge mining of late  

I have supported, and done, merged mining since it first became do-able. (By me; that is, ever since actually doing it became something I could actually accomplish.)
 
It has been obvious from the start that it is the only reasonable/feasible means of defending multiple blockchains, since defenders need to defend all targets but attackers only need attack one at a time. (Thus the more targets, the more multiples of attacker's computing power the defenders would need to defend that many targets.)

-MarkM-

[markm]

ASIC miners after just 2 month off use are electronic garbage..uselles

That is bullshit. Block eruptors still work fine for merged mining GeistGeld and CoiLedCoin, while also of course also including all the other mergeable coins in my merge just in case I luck intoa block of one of the more-difficult coins.

I use larger ASIC units too, of course, but the block eruptors seldom luck into any of those whereas just the block eruptors alone can rake in GeistGeld and CoiLedCoin blocks.

My Saturn is still going fine too even after hmm what is it now, five months or so?

-MarkM-

[flipme]

ASIC miners after just 2 month off use are electronic garbage..uselles

That is bullshit. Block eruptors still work fine for merged mining GeistGeld and CoiLedCoin, while also of course also including all the other mergeable coins in my merge just in case I luck intoa block of one of the more-difficult coins.

I use larger ASIC units too, of course, but the block eruptors seldom luck into any of those whereas just the block eruptors alone can rake in GeistGeld and CoiLedCoin blocks.

My Saturn is still going fine too even after hmm what is it now, five months or so?

-MarkM-

Sure Mark, it's all bullshit, the rest is a scam.
You three are on every thread. Whats your agenda?

From left to right: Agents El Dude, MarkM, and BCX

[xingqiaoyin]

I can't trust the future of ltc to a bunch of rookies who think they knew better.
NO.

[rumlazy]

If Litecoin was to change algo's, I'd rather it change to multiple algo's like Myriad coin.  That coin can easily be more secure then anything else since it embraces asic/gpu/cpu.

[markm]

Well don't forget to snapshot the bitcoin blockchain too while you are at it and make a fork of that too using some new hashing method.

Why should only the litecoin users enjoy being able to spend their coins on a newfangled coin network as well as on the real network?

In fact lets spawn new snapshot forks regularly, a "social contract" like Protoshares, increasing the value of the real chains like was supposed to happen to protoshares.

(Do one's bitshares plus one's protoshares they were snapshotted from add up to more value than one's protoshares alone were once worth? I don't actually know yet...)

-MarkM-

[romang]

Just leave it alone. Do not touch perfection.

[romang]

I won't change client and won't support the hardfork. I don't want LTC to be ASIC resistant. LTC needs more hashpower to protect itself.

+1000

[romang]

make your own fucking algo dipshit, stop copying other coins!

Hahahahahahahahahaha

[xiaowei]

Just leave it alone. Do not touch perfection.

+10000000

[jollyriffic]

asic is only going to help LTC.. not sure why you'd want to hurt the coin by changing up the algo