[ANN] LitecoinPlus (XLC) / super fast / green / great team!

[Crypto King]

Watching this! Sometimes projects which are revived can be a success, with hard work of course and a dedicated team/ community. Please keep updating all of your progress on here as i am sure there are others watching etc good luck

[Spidersbox]

I think adding PoW (proof of work) would also be a good thing to add.
It will help keep the chain moving and attract miners.

Once things take off and are stable for a while (a year or two ??) PoW can be phased out again - or not.

suggestions, comments ??

[Spidersbox]

Watching this! Sometimes projects which are revived can be a success, with hard work of course and a dedicated team/ community. Please keep updating all of your progress on here as i am sure there are others watching etc good luck

Thank you, I will be keeping this thread updated.
Once things are finalized, I think I will create a new thread -

[litec0ins]

I don't see why 4x is the magic number, youre basing this only on the btc to ltc ratio ?

Also cap goes x4, but our balances will remain the same I guess?
I paid high price back then because the cap was so low, but if the cap goes up x10 or x20 then it might not even be worth it for me to mess with this no more due to all of the sudden owning a really insignificant amount of coins.

[drm]

hmm pow algo? with or without blockreward?
coins x4 yes
new thread yes
but no new thread without some kind of roadmap imo.

[Spidersbox]

hmm pow algo? with or without blockreward?
coins x4 yes
new thread yes
but no new thread without some kind of roadmap imo.

block reward yes, because nobody will mine for free.
Not sure what the block reward should be.
With cap at 4x maybe 10 LCP ?
I don't want to pollute the exchanges with a bunch of cheap coins, but it has to be high enough for the miners to mine.
Still needs more investigating.

[BarTeam]

so looking through the LitecoinPlus code, turns out the wallet only stakes at 1%

Code:

static const int64 MAX_MINT_PROOF_OF_STAKE = 0.01 * COIN; // 15% annual interest

Looking at the remark after the // I'm thinking they meant 15% (.15) but messed up and coded it to 1% (.01)

rush (rushmybitcoin) thinks it would be a good idea to correct this, and change it to 20%, plus change max coins to 4 million -

Any thoughts ?

Agree with the more coin change.

The stake is necessary to be higher for the staking to have adoption. Then decrease over time.

I would say, 4 million min. maybe 10 M is best!

[drm]

I disagree^, 10M is just a number grabbed out of the air.

4M max doing the original xbc-xlc ratio (and obviously btc-ltc), xlc was intended to be 4x xbc.

I saw xbc does a 0.0 pow block reward, thats why I asked, I don't like a zero blockreward either.
I actually think a block reward of 10 might be too  much, not sure yet.

[BarTeam]

I disagree^, 10M is just a number grabbed out of the air.

4M max doing the original xbc-xlc ratio (and obviously btc-ltc), xlc was intended to be 4x xbc.

I saw xbc does a 0.0 pow block reward, thats why I asked, I don't like a zero blockreward either.
I actually think 10 might be too  much, not sure yet.

10M is as much as "grabbed from from air" as 4M (in my opinion). Any number will be dependent on the targeted market cap and not in any way related to a specific number. Unless there is something on the blockchain technology that takes advantage of that number, which is not the case here (yet).

Therefore, 10 Mis a much more simplistic number and facilitates fewer conjurations, compared with other "matching" numbers. It's not too much not too less compared with other coins, therefore makes perfect sense since it's a simple and easy number to memorize, makes human calculations easier and does not impact performance on the blockchain.

In addition, I personally believe, the total market cap is or should be adaptive. The reason to increase coin numbers is usually that of a mathematical function between the facilitation of the technology and the minimum value you can find to influence the coin market cap. This direction makes any coin controllable by it's lower capping value (there is always more interest to value something for whatever we now about, than for something we do not..).

This is my opinion. =)

[drm]

xlc was the silver to xbc.
if you want to deviate this much from that;

rare supply, xbc supply x4, adding pow and going for a "huge" (in perspective) 10M cap, then i feel you might as well make a new coin.

4M yes, 10M, no

Sure m8, just opinions, no worries  

[bobitza202]

xlc was the silver to xbc.
if you want to deviate this much from that;

rare supply, xbc supply x4, adding pow and going for a "huge" (in perspective) 10M cap, then i feel you might as well make a new coin.

4M yes, 10M, no

Sure m8, just opinions, no worries  

I agree, i think 4M would be the best choice 

[Spidersbox]

ok. cap at 4 million

Next to ponder, what should the PoW reward be ?

I've been looking around to try and find charts that compares cap, reward, value (going price) but haven't come up with one.

so, how many coins out there have a 4 million cap (or there a bouts) and are valuable ( above $1 ??) - what are their block rewards?

[bobitza202]

So what exchanges do you have in mind?novaexchange?c-cex?livecoin? there was something about being added to cryptopia 2 pages ago  

[Spidersbox]

So what exchanges do you have in mind?novaexchange?c-cex?livecoin? there was something about being added to cryptopia 2 pages ago  

It will be a while before we get listed on any exchanges, due to changes with the wallet.
Maximum supply will be increasing to 4 million.
Adding Proof of Work (mining)  - once we decide on the block reward.
Proof of Stake will be increased to 15%

These kind of changes will require a fork - new wallets that everyone will need to switch to before a predefined block.

I don't want to create extra work for the exchanges by getting listed, then telling them a little later that there is a mandatory wallet update.
They need several days to look through the code to make sure it is safe (no back doors/viruses/trojans ...)
It's best to keep exchanges happy   

As far as exchanges - the more the merrier.

[p3ngu1n]

Checkpoint is too old. Wait for block chain to download, or notify developers.

Sync is not completed.

[Spidersbox]

Checkpoint is too old. Wait for block chain to download, or notify developers.

Sync is not completed.

The warning is because there is no checkpoint server running.

Check your block count against the explorer at http://lcp.altcoinwarz.com


one more thing to do - remove the checkpoint warning

[Metros]

Where can I buy XLC? can't find it any where.

Can I get more info about staking? how/minimum/when/why..

[Spidersbox]

Where can I buy XLC? can't find it any where.

Can I get more info about staking? how/minimum/when/why..

It hasn't been on an exchange for a while.
Litecoin Plus [LCP]  use to be [XLC]

we are making some changes and relaunching it as [LCP] - but still using the old xlc blockchain.

It will be a while. Once we decide on all of the changes, and once the changes are implemented in the wallet, I will have to make a test node and test the changes to make sure the chain forks correctly.
This could take a month or two.

[p3ngu1n]

Checkpoint is too old. Wait for block chain to download, or notify developers.

Sync is not completed.

The warning is because there is no checkpoint server running.

Check your block count against the explorer at http://lcp.altcoinwarz.com

I created litecoinplus.conf and add settings.

addnode=114.174.165.197
addnode=65.102.140.118
addnode=86.180.82.170
addnode=65.102.140.115
addnode=203.118.153.128
addnode=192.168.0.76

As a result, sync started.

[Spidersbox]

Checkpoint is too old. Wait for block chain to download, or notify developers.

Sync is not completed.

The warning is because there is no checkpoint server running.

Check your block count against the explorer at http://lcp.altcoinwarz.com

I created litecoinplus.conf and add settings.

addnode=114.174.165.197
addnode=65.102.140.118
addnode=86.180.82.170
addnode=65.102.140.115
addnode=203.118.153.128
addnode=192.168.0.76

As a result, sync started.

good job!
Keep in mind that the wallet will stop downloading several times. You will know because you will have connections, but no new blocks for a minute or two.
All you have to do is shut it down, and restart it.