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

[Zackgeno96]

this idea is beyond dumb scrypt asics will only increase the price, if you change the algo you would ruin ltc............ price would drop under 5$

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[kalus]

Let's set some shit straight:
ASIC's do not make a currency more or less secure, because ASIC's cost more than pocket change but not immence amount, small companies instead of individuals are going to be in charge of the network. Indirectly manufacturers of ASIC's also have influence.
Bitcoin is already a currency mined entirely by ASIC's. It has Upsides and Downsides.

Litecoin should be interesting, even if X11 is not that GPU resistant would mean that manufacturers will be discouraged from making ASICS for it, since Litecoin would just switch again. A GPU does have respectable amount of computing power, so if one was to design an algorithm for executing which GPU would be a perfect platform, gainst in performance achieved by ASIC's would be negligible, and thus the network could not be hijacked even if malicious entity would be willing to design their own chips (highly improbably)

Dude to all of the above X11 is a step in the right direction, thus i support this.

If you want to fork the coin to x11 for these reasons, you'll basically give the scrypt coin birthright away to doge.

the largest scrypt coins are on track to be secured by scrypt asics.  for litecoin to survive long term it needs massive asic support.  power hungry gpu mining litecoin is an obsolete activity.

[kache]

Yes, of course, but I don't think LTC has any future. I'd rather see Doge hardfork to X11 because Doge is the future.

[kalus]

Yes, of course, but I don't think LTC has any future. I'd rather see Doge hardfork to X11 because Doge is the future.

if doge is the future support hardfork of LTC to X11.

being the next biggest scrypt coin, doge will gain the support of the scrypt asics to strengthen its blockchain, and LTC-X11 will fail.  

[kache]

Yes, of course, but I don't think LTC has any future. I'd rather see Doge hardfork to X11 because Doge is the future.

if doge is the future support hardfork of LTC to X11.

being the next biggest scrypt coin, doge will gain the support of the scrypt asics to strengthen its blockchain, and LTC-X11 will fail.  

No, ASICs will kill Doge. Doge is a coin based on community, a community of people that come, mine and tip other people. If the coin wasn't worth mining with GPUs anymore (and impossible with CPUs) Doge would die.
So it's important for doge to move to X11 as well.

[kalus]

Yes, of course, but I don't think LTC has any future. I'd rather see Doge hardfork to X11 because Doge is the future.

if doge is the future support hardfork of LTC to X11.

being the next biggest scrypt coin, doge will gain the support of the scrypt asics to strengthen its blockchain, and LTC-X11 will fail.  

No, ASICs will kill Doge. Doge is a coin based on community, a community of people that come, mine and tip other people. If the coin wasn't worth mining with GPUs anymore (and impossible with CPUs) Doge would die.
So it's important for doge to move to X11 as well.

ok we disagree.  

regarding the 'community', i'd bet less than 1% of the doge 'community' mines.  most people don't care to learn how to mine.

the currency generated by mining is not as important as the mining nodes which are responsible for the blockchain, and to pass along transactions.

look at the power consumption for 20mhash/sec of GPU, vs. the power consumption for 20mhash/sec of ASIC.  asics will be left on and mining long after GPU has been turned off.

i believe asics secure coins.

[Wipeout2097]

Yes, of course, but I don't think LTC has any future. I'd rather see Doge hardfork to X11 because Doge is the future.

if doge is the future support hardfork of LTC to X11.

being the next biggest scrypt coin, doge will gain the support of the scrypt asics to strengthen its blockchain, and LTC-X11 will fail.  

No, ASICs will kill Doge. Doge is a coin based on community, a community of people that come, mine and tip other people. If the coin wasn't worth mining with GPUs anymore (and impossible with CPUs) Doge would die.
So it's important for doge to move to X11 as well.

Well, there's where we depart...

While I can see Doge changing due to popular opinion, or even in worse case vocal loud mouths on the Internet, that doesn't really matter much because it's a coin for fun and giggles.

Litecoin is not. It is a coin where people invest or look as a plan B if Bitcoin's decentralized trustless system fails. Hardforking litecoin so that it can be ASIC resistant is opening a can of worms and making a mockery of the scene. So where's the decentralized trustless coin that an authority can't revoke? Can the next Litecoin fork blacklist addresses or force to register at some website too?

And I say this being a GPU miner and without having invested in Litecoin. So, if someone came up with ASICs and miners will robustly mine Litecoins, pushing forward transactions and securing the blockchain, then I just have to adapt to a situation where the greater good prevails and move my gpus elsewhere

[Propulsion]

So if a hard fork does happen, that means I effectively have double the coins. I sell once at Cryptsy on the regular Scrypt LTC, and then I sell my same address coins on the X11 LTC chain (probably hosted on some shit exhange). What's your plan to stop that from happening?

Questions aside, your either going to double the value of my LTC or half it. More then likely half it.
Make your own coin don't touch LTC.

[IloveAnonCoin]

The OP is not Litecoin dev, if you want to clone, then clone. Don't try to ack like you are Litecoin dev. You cannot do anything about Litecoin. If you are not Coblee, or Warren, or Pooler, please don't BS.

[manywelps]

You don't need the pools or miners.

All you need to get to change are the Fiat exchanges.  Everyone else will be forced to follow.

Basically get BTC-E to change, and maybe the chinese exchanges, and you're set.

Everyone else will have no choice.

[96redformula]

Yes, the whole point behind LTC was ASIC resistant.  Its time to move on once more.

[IL MinaTore]

Would be the best thing litecoin is dying because of Asic miner and will always farther down no action is taken, the big production companies have operated ogy Their machines are destroying the currency and currently Has 80% of the asci miner digging on this one thing and also ridiculous comes to an asci 100,000 Khash and if you put a company which Has 200 asci in stock functional and enabled on excavation explain you Because we are still falling, and with this it also leads down behind the bitcoin they need to monetize


Those who vote no and absolutely asic miner X11 brings Considerable lowering and exploitation of the hardware

[xiaowei]

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

[mzfish]

x11 is better

[Duhas]

ASIC is only going to help they owner to get more money in the first monthf after it's release..

imo changing the algo is good idea, and we need to do this each year or two...

ASIC killing decentralisation ideas..we need not mant MH/s, we neew work that is hard to be done..  many people invest into ASIC not to supporting of crypto, but only to get ROI multiple times..

PS Beeker, does changing some constants in Scrypt not help for ASIC resistance?

[fenghush]

You do realize that x11 is no where near memory intensive as scrypt which makes asic design that much easier, then what, another fork?
At the moment people love x11 because the public miners are very much unoptimized which keeps their GPUs cool, but not for long.

[toxick]

I pretty much never post anything on here but because this is possibly the most retarded thing I've seen in a while, I felt compelled to.

The only possible reason that anyone would vote yes is because they are Litecoin hating trolls. Which is fair enough. However, if you actually voted yes and like/hold LTC, you should immediately delete all your wallet.dat files and burn your computer. You may as well, because it would destroy the price of LTC overnight and probably make anyone that has invested in (all) crypto-currencies lose faith instantly!

As many people have suggested on this thread, If you are determined to keep on mining with a gpu or cpu (or you're god damn botnet) then just mine vert, dark or whatever coin takes your fancy.

Wow, if people are actually thinking this is a good idea, then there is no hope left for humanity  

I voted no, surprisingly  

[digitalindustry]

Seems reasonable,  but you would certainly need to get the exchanges on board,  and show that the majority want it.

Maybe you should make an LTC X11 foundation ha ha.

[coblee]

Here's our response: https://litecointalk.org/index.php?topic=18166.0

[El Dude]

Here's our response: https://litecointalk.org/index.php?topic=18166.0

Great response.