[ANN][LIM]LimeCoin X11 Algo | OBSOLETE move to LimecoinX please

[gmcm]

Enlighten me as to how exactly LC is a scam?

Why do you protect scam LC coin ?

[1714942298]

1714942298

[1714942298]

1714942298

[stevegreer]

Why don't you tell me why you think it's a scam coin? Is it because someone else told you it is? Or do you have evidence?

[gmcm]

Why don't you tell me why you think it's a scam coin? Is it because someone else told you it is? Or do you have evidence?

Apparently, u like scam LC coin and u know where is evidence. You just don't want to admit it.

[A-tM]

Why don't you tell me why you think it's a scam coin? Is it because someone else told you it is? Or do you have evidence?

It is simple. Investigate the blockchain. (link to investigation)

The first 1000 blocks, at 500 coins a pop, yields 500,000 LC. All in under 27 minutes. This is over half the total planned coins in under half an hour.

This means, these coins are in possession of just a few people, who can dump it whenever they want, they were gained too easily, and it is only a matter of time these holders want to take huge profit of it.
It is one big bubble, ready to blow.

Regards,
Andy

[stevegreer]

And there are a few people who hold a huge chunk of the Bitcoins. Does that make it a scam too? So a few people with big hash power were quick to mine a chunk of them. So what? More power to them. And if it is a bubble waiting to pop then what is wrong with other people taking advantage of it while they can? The same could be said for Blackcoin, Darkcoin, Bitcoin Plus, etc., etc., etc. Those are all coins with a few people holding huge amounts and doing everything they can to manipulate the prices in order to make big profits. That is the name of the game, isn't it? No different than the stock market.

And thanks for the reply A-tM. <thumbs up> I wasn't getting any real response from gmcm.

[A-tM]

And there are a few people who hold a huge chunk of the Bitcoins. Does that make it a scam too? So a few people with big hash power were quick to mine a chunk of them. So what? More power to them.

No, you don't get it yet.
The principal fact is, that the minging algorithm was designed for to mine WHOLE HALF of the coins in half an hour.
It is unfair - early privileged miner or miners (the only informed), were getting coins with uncomparable easyness in comparison to hard working miners later.
This is scam.

Look at bitcoin halving algorithm - it is completely different and it is unbiased. Everybody gets coins proportional to his work.
Halving periods are much longer, and are designed to counteract increasing hashing power, for nothing else, to retain fairness even more.

And regarding "huge chunks". Do you think that just few people do own HALF of the all bitcoins, that will ever be mined?

[Eastwind]

And there are a few people who hold a huge chunk of the Bitcoins. Does that make it a scam too? So a few people with big hash power were quick to mine a chunk of them. So what? More power to them. And if it is a bubble waiting to pop then what is wrong with other people taking advantage of it while they can? The same could be said for Blackcoin, Darkcoin, Bitcoin Plus, etc., etc., etc. Those are all coins with a few people holding huge amounts and doing everything they can to manipulate the prices in order to make big profits. That is the name of the game, isn't it? No different than the stock market.

And thanks for the reply A-tM. <thumbs up> I wasn't getting any real response from gmcm.

In present times, if the developer wants the coin to be successful and distributed fairly among miners, then he should make sure the distribution is according to the plan. If the block time is 1 min, then it should take 10000 min to issue 10000 blocks. He can adjust the difficulty level to achieve that.

If the coin is not issued according to the specification, ie, instamine, then it is a scam. I will avoid those coins. It is as simple as that.

[stevegreer]

No, you don't get it yet.
The principal fact is, that the minging algorithm was designed for to mine WHOLE HALF of the coins in half an hour.
It is unfair - early privileged miner or miners (the only informed), were getting coins with uncomparable easyness in comparison to hard working miners later.
This is scam.

Look at bitcoin halving algorithm - it is completely different and it is unbiased. Everybody gets coins proportional to his work.
Halving periods are much longer, and are designed to counteract increasing hashing power, for nothing else, to retain fairness even more.

And regarding "huge chunks". Do you think that just few people do own HALF of the all bitcoins, that will ever be mined?

No, I understand the point you are making. I think it sucks that so many were mined so quickly too. And believe me, I don't own enough of them to really have made a dent in the total supply anyway. But it's too late to worry about that now. And I am a glass half full kind of guy, so I'm not too quick to say that the dev purposely designed the coin to be instamined. Maybe he did, maybe he didn't, but I have no concrete evidence of it. If I end up getting burned if the coin gets dumped and the value comes crashing down, then too bad for me. It won't be the first time I lost money on a coin. It's a gamble with any coin.

Good point about Bitcoin too. I was only using that scenario as an example. My point was that Bitcoin is not immune from manipulation by the large holders either. All coins can be manipulated. But you are right, Bitcoin is a much more fair and balanced coin. That's why it's the king!

[coda]

just for info:
LC alias the scrypt Limecoin is 1 st on the shitlist
http://www.shitcoins.info/#
what else to say ?
LIM is the only Limecoin - X11 is the future

[stevegreer]

just for info:
LC alias the scrypt Limecoin is 1 st on the shitlist
http://www.shitcoins.info/#
what else to say ?

Wow! A website call shitcoins.info. It has 10 coins listed and none of them have a single vote. Best yet is that anyone who signs up for an account can add a coin to the shit list. And this is a reliable source how exactly? What's worse is that it certainly appears to be a site started by those so-called elitist knuckleheads who started the operation shitcoin cleanout thread a while back. I don't think from looking at the site that there is any particular order for what place any of those coins are in, so your claim that LC is number 1 on the list probably means it was the most recent one added. Possibly added tonight? Possibly added by you in order to try and back up your claim? Nice try though. Gotta admire your tenacity!

[profall]

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[A-tM]

Something has to give.......

I have DL'd the wallet 3 times now - deleted everything in APPDATA (windows of course) except the wallet.dat

And it's still stuck at 3955.

Is it a node issue? needed in my .conf file?

ANY help would be great!!!!

9 days behind - this is just ridiculous

Hello Mangled Blue,
maybe you are making the same mistake as me.

You have to maintain correct order of steps, do not clear the directory of limecoin in APPDATA AFTER the reinstall.

So:

• backup wallet.dat
• delete content in APPDATA
• only then reinstall
• from now on do not delete anything
• restore wallet.dat
• run wallet, it should sync ok.

Hope this helps.

Regards,
Andy

[spicelord]

just for info:
LC alias the scrypt Limecoin is 1 st on the shitlist
http://www.shitcoins.info/#
what else to say ?
LIM is the only Limecoin - X11 is the future

There are no votes for any coin on that list. So it's tied for first technically

[notsoshifty]

No, you don't get it yet.
The principal fact is, that the minging algorithm was designed for to mine WHOLE HALF of the coins in half an hour.
It is unfair - early privileged miner or miners (the only informed), were getting coins with uncomparable easyness in comparison to hard working miners later.
This is scam.

Look at bitcoin halving algorithm - it is completely different and it is unbiased. Everybody gets coins proportional to his work.
Halving periods are much longer, and are designed to counteract increasing hashing power, for nothing else, to retain fairness even more.

And regarding "huge chunks". Do you think that just few people do own HALF of the all bitcoins, that will ever be mined?

No, I understand the point you are making. I think it sucks that so many were mined so quickly too. And believe me, I don't own enough of them to really have made a dent in the total supply anyway. But it's too late to worry about that now. And I am a glass half full kind of guy, so I'm not too quick to say that the dev purposely designed the coin to be instamined. Maybe he did, maybe he didn't, but I have no concrete evidence of it. If I end up getting burned if the coin gets dumped and the value comes crashing down, then too bad for me. It won't be the first time I lost money on a coin. It's a gamble with any coin.

Good point about Bitcoin too. I was only using that scenario as an example. My point was that Bitcoin is not immune from manipulation by the large holders either. All coins can be manipulated. But you are right, Bitcoin is a much more fair and balanced coin. That's why it's the king!

It's not just a matter of fairness, or manipulation by those who got hundreds of thousands of coins almost for free (although yes that is a big factor).

PoW coins use mining as the mechanism for securing the network, and the long halving time provides a good long-term incentive. If reward halving occurs more than once a day, especially in the first day where it halved multiple times, then block rewards very quickly fall to zero, and it is no longer profitable to mine. LC had between 0.5 and 2 Mh/s when I last checked, which is like 1 GPU's worth. It is trivial for a LC holder to perform a double spend attack. The incentive that the LC dev has come up with (1 LC transaction fee for multipool miner) won't work.

[JL0z]

And there are a few people who hold a huge chunk of the Bitcoins. Does that make it a scam too? So a few people with big hash power were quick to mine a chunk of them. So what? More power to them.

No, you don't get it yet.
The principal fact is, that the minging algorithm was designed for to mine WHOLE HALF of the coins in half an hour.
It is unfair - early privileged miner or miners (the only informed), were getting coins with uncomparable easyness in comparison to hard working miners later.
This is scam.

Look at bitcoin halving algorithm - it is completely different and it is unbiased. Everybody gets coins proportional to his work.
Halving periods are much longer, and are designed to counteract increasing hashing power, for nothing else, to retain fairness even more.

And regarding "huge chunks". Do you think that just few people do own HALF of the all bitcoins, that will ever be mined?

On the other hand, it could have been a programming error that allowed the difficulty not to change sufficiently.  I haven't looked at the source code, but did look at the blockchain.  For a 1 minute block time, the first 2000 blocks were solved in about 48 minutes, the fastest being the 35th minute where 102 blocks were solved.  Given that huge hashing power comes in, the difficulty should have gone skyhigh, but in fact was I think less than 1 during all of that period, and most of the time was something like 0.03 average.  For that difficulty, even a modest rig with say 5Mh would be easily solving blocks in a few seconds.

Actually what is worse is that the fast block times, actually favor the block finder, they have a headstart on the next block and solve it before the others get onto it.  Anyway, my 10c worth.

BTW - LC block rewards are 0.007 or less now per block - not much incentive for the miner.

[chiguireitor]

Can someone post working nodes, i have 0 connections and the faucet and game haven't been able to work for the past 9 days

[cgminer-o]

Can someone post working nodes, i have 0 connections and the faucet and game haven't been able to work for the past 9 days

We need a copy from Chain!!

[MineP.it]

The price of the real LimeCoin (this one) is still waaaay below where it should be. It was trading at 1250 satoshi comfortably at one point and we need to try get it back up there!

[IParn]

Can someone post working nodes, i have 0 connections and the faucet and game haven't been able to work for the past 9 days

We need a copy from Chain!!

connect=209.208.111.8   (Main Official Node)
addnode=209.208.109.194 (Official Node)
addnode=209.208.108.71 (Official Node)
addnode=69.28.94.67 (Official Node)


Block Chain 5-12-2014

http://69.28.94.67/blockChain-5-12-04.rar

[notsoshifty]

On the other hand, it could have been a programming error that allowed the difficulty not to change sufficiently.  I haven't looked at the source code, but did look at the blockchain.  For a 1 minute block time, the first 2000 blocks were solved in about 48 minutes, the fastest being the 35th minute where 102 blocks were solved.  Given that huge hashing power comes in, the difficulty should have gone skyhigh, but in fact was I think less than 1 during all of that period, and most of the time was something like 0.03 average.  For that difficulty, even a modest rig with say 5Mh would be easily solving blocks in a few seconds.

Actually what is worse is that the fast block times, actually favor the block finder, they have a headstart on the next block and solve it before the others get onto it.  Anyway, my 10c worth.

BTW - LC block rewards are 0.007 or less now per block - not much incentive for the miner.

I don't think "programming error" is the right term here

Premines are black and white, they're either there or not, and large premines need to be justified. Instamines either go unnoticed, or can be wriggled out of ("it was fair!", "everyone got a chance!", "it always takes a while for difficulty to adjust at the start!", "it was only a few hundred blocks!"). LC dev launched a coin with very low starting difficulty, delayed difficulty adjustment, and rewards heavily front loaded. He's not an idiot, he knew exactly what was going to happen.