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Author Topic: Increase litecoin value  (Read 7243 times)
LiteBit
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March 21, 2012, 06:06:33 PM
 #41

... and being a whole lot easier to come by for the average joe.

I think this is a good point.  The ratio of people using digital currency like Bitcoin and Litecoin to fiat is truely one sided to the traditional side.  In order for mass adoption by customers and merchants the money has to be easy to acquire for the average Joe.  Being that Bitcoin is $5+ USD on average it may "seem" (albeit wrong assumption) to be too hard to get, too expensive to bother or even a feeling of missed the boat.  Litecoin is cheaper, faster, more of it and that is all happening now, 2+ years after the first crypto currency finally cracked the code to be a viable digital currency, a la Bitcoin.

Each day 28K LTC will be made until 2016. That is a ton of digital coins that can be divided down for many, many future digital currency carrying members.  A slow and steady growth curve would be the best thing for Litecoin until 2016. Not the violent spikes Bitcoin had during its 1st year just last year. 

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Liberate
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March 21, 2012, 06:16:50 PM
 #42

... and being a whole lot easier to come by for the average joe.

I think this is a good point.  The ratio of people using digital currency like Bitcoin and Litecoin to fiat is truely one sided to the traditional side.  In order for mass adoption by customers and merchants the money has to be easy to acquire for the average Joe.  Being that Bitcoin is $5+ USD on average it may "seem" (albeit wrong assumption) to be too hard to get, too expensive to bother or even a feeling of missed the boat.  Litecoin is cheaper, faster, more of it and that is all happening now, 2+ years after the first crypto currency finally cracked the code to be a viable digital currency, a la Bitcoin.

Each day 28K LTC will be made until 2016. That is a ton of digital coins that can be divided down for many, many future digital currency carrying members.  A slow and steady growth curve would be the best thing for Litecoin until 2016. Not the violent spikes Bitcoin had during its 1st year just last year. 
Good to hear, anybody can get their hands on some litecoins even just using there cpu, whereas bitcoin deso have more of an entry curve.

Will code for coins, python c#, php(+html, jss, sql) scripts can also pen testing(not a skid) PM me https://bitcointalk.org/index.php?topic=71889.msg813212#msg813212

BTC: 1X8Uwr6vxtuudvxgPv9SqP2c6omWUC3qn
LTC: LaZ8A9YTHbNiFuhRFdCt7KNRuU2XFPXgfA
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March 21, 2012, 08:24:20 PM
 #43

will there come a point where the difficulty becomes to high for cpu miners?
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March 21, 2012, 09:16:25 PM
 #44

will there come a point where the difficulty becomes to high for cpu miners?
No

Will code for coins, python c#, php(+html, jss, sql) scripts can also pen testing(not a skid) PM me https://bitcointalk.org/index.php?topic=71889.msg813212#msg813212

BTC: 1X8Uwr6vxtuudvxgPv9SqP2c6omWUC3qn
LTC: LaZ8A9YTHbNiFuhRFdCt7KNRuU2XFPXgfA
Cosbycoin
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March 22, 2012, 02:44:52 AM
 #45

will there come a point where the difficulty becomes to high for cpu miners?
No

Elaborate please why that is. One shouldn't accept an absolute answer without explanation. I'm for LTC succeeding but will not accept what people say blindly.

Thanks! Grin
k9quaint
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March 22, 2012, 02:53:37 AM
 #46

will there come a point where the difficulty becomes to high for cpu miners?
No

Elaborate please why that is. One shouldn't accept an absolute answer without explanation. I'm for LTC succeeding but will not accept what people say blindly.

Thanks! Grin

If the LTC difficulty rises to 12 billion, many people might say that is too high! Others might say it is too far!
But if LTC are worth $12 Billion each...is the difficulty too far or too high?

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Cosbycoin
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March 22, 2012, 02:57:16 AM
 #47

will there come a point where the difficulty becomes to high for cpu miners?
No

Elaborate please why that is. One shouldn't accept an absolute answer without explanation. I'm for LTC succeeding but will not accept what people say blindly.

Thanks! Grin

If the LTC difficulty rises to 12 billion, many people might say that is too high! Others might say it is too far!
But if LTC are worth $12 Billion each...is the difficulty too far or too high?

Keep in mind the question was not asked in terms of price but in terms of difficulty and feasibility for CPU miners to attain any LTC for their efforts.
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March 22, 2012, 03:01:20 AM
 #48

will there come a point where the difficulty becomes to high for cpu miners?
No

Elaborate please why that is. One shouldn't accept an absolute answer without explanation. I'm for LTC succeeding but will not accept what people say blindly.

Thanks! Grin

If the LTC difficulty rises to 12 billion, many people might say that is too high! Others might say it is too far!
But if LTC are worth $12 Billion each...is the difficulty too far or too high?

Keep in mind the question was not asked in terms of price but in terms of difficulty and feasibility for CPU miners to attain any LTC for their efforts.

If LTC have no price, then all difficulties are too far and too high. The only thing that determines whether or not you should mine anything is the price of electricity used vs the price of the coin mined. If BTC were $12 billion each, and difficulty was 1, then I would be mining them with my CPUs as well as my GPUs(regardless of how much better it might be if each CPU was a GPU).

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El Cabron
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March 22, 2012, 03:05:49 AM
 #49

I would make a guess that the price will go up once all the botnets mine all the coins. Still that will be a while.



Sorry El Cabron, you are banned from posting or sending personal messages on this forum.
Trolling
https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
tacotime
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March 22, 2012, 03:29:00 AM
 #50

I would make a guess that the price will go up once all the botnets mine all the coins. Still that will be a while.




There are no botnets anymore.  The network hash rate is only equivalent to 150 5850 GPUs.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
El Cabron
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March 22, 2012, 03:30:35 AM
 #51

I would make a guess that the price will go up once all the botnets mine all the coins. Still that will be a while.




There are no botnets anymore.  The network hash rate is only equivalent to 150 5850 GPUs.

Oh, that is interesting. Why did they leave?

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https://bitcointalk.org/index.php?topic=622250.msg7030081#msg7030081
tacotime
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March 22, 2012, 03:36:28 AM
 #52

Oh, that is interesting. Why did they leave?

Not sure, probably in anticipation of the difficulty rising to extreme levels from the prospect of GPU mining (which it's now starting to) and the reward being outpaced by the risk.  There were some botnets before in the 1-3MH/s region, but now pretty much anyone can mine in that capacity and the difficulty is much higher (soon to be almost 2).

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
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