Litecoin is officially dead

[nwfella]

What this here coin needs is a veritable technology enema!

[LiQio]

...
nxt I researched, I know its not secure so I avoid (do you need me to break that part down for you, as I am avoiding using some pretty scary facts so nxt fanbois don't get all upset).

facts, even scary ones, need to be known: put your cards on the table, please

[Saigonsmokes]

nxt I researched, I know its not secure so I avoid

If NXT was not secure, it would have been broken a long time ago.
How long should it run before you admit it's secure? 1 year is enough? 2 years? Just name a timeframe. If you don't think hackers are trying to break it all the time over the past 6 months, you're very naive. You need to do more research, obviously you just read someone's biased opinion and believed it, that was all your research about NXT.

NXT is very new and look at all these 'scams' or 'scandals' linked to it:

Was the guy linked here not a spokesman or the face of NXT?

https://bitcointalk.org/index.php?topic=653693.0

100% PREMINE NXT SCAM
https://bitcointalk.org/index.php?topic=651057.0

Lets remember history for a moment.

NXT was all mined, approximately 1,000,000,000 tokens, instantly.

They were then given to forum members deemed most influential or a friend of the developers, 50 people got ALL THE COINS instantly.

There is very little in liquidity, creating a false illusion of wealth, try to sell 500,000 NXT on cryptsy and see what happens to that price!  On the other hand you could sell that much of Litecoin and the market for Litecoin would NOT hiccup!


NXT should be rightfully called out as the biggest insta-mine scam in the history of alt-coins.  It is written in JAVA.  It was kept CLOSED SOURCE to hide major flaws and security issues.

They keep promising features that then do not appear and claim features that do not really work.  Have you tried to use their asset exchange?  Not really functioning.

Should be renamed SHT or SCM.  Smiley

--edit--

NXT says scamming is okay -

Quote from: Come-from-Above on June 13, 2014, 07:04:02 PM
Quote from: bitgold on June 13, 2014, 07:02:30 PM
Fairness is one of the most important factors, if not THE most important factor, for the viability of any crypto coin.

Unfortunately, NXT got it wrong.


fairness is a fake concept which has no place in capitalism

if u dont know this then u are delusional.  there is no fair cryptocurrency, this is hyprocite talk

look at bitcon its the worst obviously. fairness is such a joke anyway. there is no such thing as fairness in this world

Thank you for admitting that NXT is a scam - see this is the mentality of NXT and people behind it.

People who made NXT believe and support scamming.

Fairness is what separates men from animals and the 1st world from the 3rd world.

Fairness and empathy are what make us human.

NXT is inhumane, as proven by the poster above by his support and admission that NXT is a scam, even defending NXT's right to scam you.

[devphp]

1) kelsey said NXT is not secure. I was answering him on that point. Hackers have been trying to break NXT for over 6 months, NXT is still here, not broken. How long should it run before everyone can admit it's as secure as Bitcoin? This is a direct question to all of you.

2) The general consensus is that guy's forum account was hacked, and the scammer scammed some Bitcoins, what does it have to do with the security of NXT? The most it has to do with is the forum's engine not being secure or that guy's forum account password not being secure, has nothing to do with NXT, and you know it.
Even if someone in NXT community is a bad apple, again, NXT as a technology has nothing to do with that, it's running for 6 months, unbroken. Bugs do happen, same as in any other software, but nothing fatal and nothing that cannot be fixed.

3) NXT, being Proof-of-Stake has to have all 100% coins created at Genesis block, that's by design. You can call it scam all you want, this is a design of 100% PoS currencies.

[doo]

...
nxt I researched, I know its not secure so I avoid (do you need me to break that part down for you, as I am avoiding using some pretty scary facts so nxt fanbois don't get all upset).

facts, even scary ones, need to be known: put your cards on the table, please

It can be killed for nothing just because nobody has done it does not mean it cant be done. PoS is Russian roulette.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2393940
Just download the paper

[devphp]

It can be killed for nothing just because nobody has done it does not mean it cant be done.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2393940
Just download the paper

It's been a myth touted around PoW community, with everybody parrotting this myth, but there is no proof of concept that NXT can be killed. Please kill NXT if you can asap, I encourage you.

Again, I repeat, how long should NXT run before everyone can admit it's as secure as Bitcoin? This is a direct question to all of you.

[LiQio]

It can be killed for nothing just because nobody has done it does not mean it cant be done.
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2393940
Just download the paper

It's been a myth touted around PoW community, with everybody parrotting this myth, but there is no proof of concept that NXT can be killed. Please kill NXT if you can asap, I encourage you.
..

let's call it a theoretical attack vector, which is totally impractical because all the economical assumptions are wrong...

now doo are you a sockpuppet of kelsey, or can we expect something more?

[Lauda]

With PoS coins, blocktimes don't matter nearly as much. 5 seconds is around the time it takes for a NXT confirmation. Litecoin is just old, dusty, and outdated. The only reason it's even at $9, is because of the old money invested in it. When those people decide to take a profit, or loss, and sell, Litecoin will drop like a stone to $1 and lower.

Nobody in their right mind needs 5 second confirmations.

[kattokassinen]

I agree that Litecoin hardly has anything to offer anymore, or if it ever had.

- 2.5 minutes block time isn't fast enough to make a micropayment alternative to bitcoin
- Basically Litecoin is like bitcoin with different kind of algorithm, which only the 'nerds' care about, not 'normal' people we want to use them.

I was lucky to be able to buy Litecoin back in the day for 0.01 btc each, and sell out at 0.028 when other alternative currencies started to pour in. That's when I realized that Litecoin, in my opinion, will be dead in a little while, as some other alternative currency that offers something truly new to bitcoin, will take its place.

[doo]

I agree that Litecoin hardly has anything to offer anymore, or if it ever had.

- 2.5 minutes block time isn't fast enough to make a micropayment alternative to bitcoin
- Basically Litecoin is like bitcoin with different kind of algorithm, which only the 'nerds' care about, not 'normal' people we want to use them.

I was lucky to be able to buy Litecoin back in the day for 0.01 btc each, and sell out at 0.028 when other alternative currencies started to pour in. That's when I realized that Litecoin, in my opinion, will be dead in a little while, as some other alternative currency that offers something truly new to bitcoin, will take its place.

Yeh you where very lucky to buy litecoin at 0.01 as a newbie, didn't have this kind of luck myself.
The nxt scam is nothing truly new tough scams are around for ever.

[darkota]

I agree that Litecoin hardly has anything to offer anymore, or if it ever had.

- 2.5 minutes block time isn't fast enough to make a micropayment alternative to bitcoin
- Basically Litecoin is like bitcoin with different kind of algorithm, which only the 'nerds' care about, not 'normal' people we want to use them.

I was lucky to be able to buy Litecoin back in the day for 0.01 btc each, and sell out at 0.028 when other alternative currencies started to pour in. That's when I realized that Litecoin, in my opinion, will be dead in a little while, as some other alternative currency that offers something truly new to bitcoin, will take its place.

+1, Very good points presented, I also agree.

[devphp]

how long should NXT run before everyone can admit it's as secure as Bitcoin? This is a direct question to all of you.

Looks like nobody is able to answer it, haha. Well, that's just being a pussy. You are a pussy if you can't answer this question and then stand by your own word when the time has passed and NXT is still here.

[darkota]

With PoS coins, blocktimes don't matter nearly as much. 5 seconds is around the time it takes for a NXT confirmation. Litecoin is just old, dusty, and outdated. The only reason it's even at $9, is because of the old money invested in it. When those people decide to take a profit, or loss, and sell, Litecoin will drop like a stone to $1 and lower.

Nobody in their right mind needs 5 second confirmations.

5 seconds confirmations are a good thing, makes the currency more realistic and comparable to credit cards.

[devphp]

As far as I know 5 seconds confirmation time is only possible with Ripple, which is not decentralized, but distributed. Or was it 15 sec, can't remember.

NXT doesn't do 5 sec. NXT is doing ~800 blocks per 24 hours which works out to 1 block each 1:50 min, and is supposed to do 1 block per minute when Transparent Forging is enabled.

[Crypt_ome]

I think it still has value, but it won't be long.  Litecoin is just fading away slowly as is dogecoin.    I own both.

[griffinriz]

Litecoin investors should move to NXT, NXT at least has some innovation.

[Aricoin_Mike]

this things can change very quickly!

[darkota]

Litecoin investors should move to NXT, NXT at least has some innovation.

True, I also agree.

[rikkejohn]

Litecoin is familiarity, and people like that. If Litecoin dies, then Bitcoin has to follow. Both have been premium coins, and for every fault you will find with Litecoin, you will find something to chalk on Bitcoin's board.

In truth, both are inferior compared to other altcoins.

Really, only alt-people give a damn about cryptocurrency anyway (of course you will always find an exception to that). And we alt-people treat crypto as a commodity.

Joe Public does not give a shit, he uses Mastercard.

[darkota]

Litecoin is familiarity, and people like that. If Litecoin dies, then Bitcoin has to follow. Both have been premium coins, and for every fault you will find with Litecoin, you will find something to chalk on Bitcoin's board.

In truth, both are inferior compared to other altcoins.

Really, only alt-people give a damn about cryptocurrency anyway (of course you will always find an exception to that). And we alt-people treat crypto as a commodity.

Joe Public does not give a shit, he uses Mastercard.

Litecoin has no adoptance, no innovation, and no first mover status(there were many altcoins made before litecoin...)

Litecoin is in no way similar to Bitcoin. It's simply a useless altcoin...much like Dogecoin.