[LTCD] LitecoinDark.com ★ Scrypt ★ Difficulty Shield ★ Multipool ★ Fast

[Xircom]

Most likely, NO.

If it gets mined out in the near future, miners will likely lose interest and many will point their rigs elsewhere which would slow transactions down noticably.

If a time comes when LTCD transfers begin to take as long as BTC (10 minutes to many hours), less trading will probably take place influencing less people to be interested in the coin. The value/price of a coin is based more on how interested people are than any other single factor. Also, if transaction speed drops and people wander off elsewhere, the potential for attracting businesses to use the coin for accepting payments will be greatly reduced. It is important to attract business. A coin that can only be traded back and forth or used for web-tipping will eventually stagnate. A coin that can be spent to buy electronic gadgets, coffee, crafting supplies, gasoline, groceries, etc ... becomes a negotiable instrument with real-world use for bartering into and out of tangible goods.

If we keep mining the way it is and it finishes quickly to 82million, from there, wont the price go up pretty fast?

I'm pretty sure we keep the block time to keep the network fast. We would lower the block reward dramatically to keep the coin mineable for a long time and to be able to use POS. We in the DEV team are making the cahnges as fast as the community is finished voting.

[Frogman]

Most likely, NO.

If it gets mined out in the near future, miners will likely lose interest and many will point their rigs elsewhere which would slow transactions down noticably.

If a time comes when LTCD transfers begin to take as long as BTC (10 minutes to many hours), less trading will probably take place influencing less people to be interested in the coin. The value/price of a coin is based more on how interested people are than any other single factor. Also, if transaction speed drops and people wander off elsewhere, the potential for attracting businesses to use the coin for accepting payments will be greatly reduced. It is important to attract business. A coin that can only be traded back and forth or used for web-tipping will eventually stagnate. A coin that can be spent to buy electronic gadgets, coffee, crafting supplies, gasoline, groceries, etc ... becomes a negotiable instrument with real-world use for bartering into and out of tangible goods.

If we keep mining the way it is and it finishes quickly to 82million, from there, wont the price go up pretty fast?

I'm pretty sure we keep the block time to keep the network fast. We would lower the block reward dramatically to keep the coin mineable for a long time and to be able to use POS. We in the DEV team are making the cahnges as fast as the community is finished voting.

I understand. Perhaps one of the new features that should be put into the new ltcd wallet is something like what Vericoin has done. The Veribit system. To be able to change right out of ltcd to btc right in the wallet could help Ltcd out a great deal. Anyone else agree?

[vicvelcro]

I'm not sure I understand what you mean about keeping the block time. If there is none or very little mining, that would be out of your hands. When we got stuck with the high difficulty, it took hours to move one block. If miners go away due to the coin being mined out, you might not be able to set the difficulty low enough to counter-act a near lack of miners. Blocks would move slower than a 7 year itch.

I don't believe PoS would help much in that regard, either. Suppose people hold coins in their wallet for staking but they simply close their wallet while they wait (I do exactly that with CPTL, CRYPT, RDD, and a few others). I don't keep my PoS wallets open for days waiting to see the payout and I'm pretty sure others don't. In addition, I've lost many coins due to PoS not working properly, so I don't stake any of the coins I have that might be worth anything at all sometime down the road. I only stake the coins I really don't care about losing.

Not sure exactly how it works. But while staking the coins that I do in fact stake, my CPU does some kind of work. Even with an 8 core clocked up to 5.9 GHz per core, it is hella slower than a single R9 270 GPU mining a pool. And the R9 is hella slower than the smallest ASIC in my arsenal. A large number of people doing PoS would have to keep their wallet open in order to make the same progress as one amateur miner with a handful of Gridseeds.

At this time, I have many of my rigs available for rent, when they are not rented, each rig will hash to a pool of my choosing, and each rig can point to a different pool.

BUT

I always leave 100 MHs worth of smaller ASICs not up for rent and pointed at a couple of different LTCD pools. If/When mining LTCD stops, there's not much I can do to help transaction speed. I'm sure there's at least a couple other people out there with rigs doing the same thing for you. Keep the mining going as long as possible with a low payout (enough to cover electric cost) and you can expect transaction transfers to remain decently quick.

I'm pretty sure we keep the block time to keep the network fast. We would lower the block reward dramatically to keep the coin mineable for a long time and to be able to use POS. We in the DEV team are making the cahnges as fast as the community is finished voting.

[Hamuki]

I am giving 5-10 LTCD away free to each person who writes their address on a thread I made.

Made it 5 min ago, already 5 addresses posted, and a lot more are watching the thread...

Wanna donate to the cause of free coins to the people then throw some small amounts to this address if you have some spare change

LTCD donation address: LVcURS8XhBatka1aEJjZEgzDxrA1eMtQRR

[Xircom]

I'm not sure I understand what you mean about keeping the block time. If there is none or very little mining, that would be out of your hands. When we got stuck with the high difficulty, it took hours to move one block. If miners go away due to the coin being mined out, you might not be able to set the difficulty low enough to counter-act a near lack of miners. Blocks would move slower than a 7 year itch.

I don't believe PoS would help much in that regard, either. Suppose people hold coins in their wallet for staking but they simply close their wallet while they wait (I do exactly that with CPTL, CRYPT, RDD, and a few others). I don't keep my PoS wallets open for days waiting to see the payout and I'm pretty sure others don't. In addition, I've lost many coins due to PoS not working properly, so I don't stake any of the coins I have that might be worth anything at all sometime down the road. I only stake the coins I really don't care about losing.

Not sure exactly how it works. But while staking the coins that I do in fact stake, my CPU does some kind of work. Even with an 8 core clocked up to 5.9 GHz per core, it is hella slower than a single R9 270 GPU mining a pool. And the R9 is hella slower than the smallest ASIC in my arsenal. A large number of people doing PoS would have to keep their wallet open in order to make the same progress as one amateur miner with a handful of Gridseeds.

At this time, I have many of my rigs available for rent, when they are not rented, each rig will hash to a pool of my choosing, and each rig can point to a different pool.

BUT

I always leave 100 MHs worth of smaller ASICs pointed at a couple of different LTCD pools. If/When mining LTCD stops, there's not much I can do to help transaction speed. I'm sure there's at least a couple other people out there with rigs doing the same thing for you. Keep the mining going as long as possible with a low payout (enough to cover electric cost) and you can expect transaction transfers to remain decently quick.

I'm pretty sure we keep the block time to keep the network fast. We would lower the block reward dramatically to keep the coin mineable for a long time and to be able to use POS. We in the DEV team are making the cahnges as fast as the community is finished voting.

Thats the idea to keep a superfast coin by keeping the block speed of 1 min.
And by lowering the reward let the coin still be mineable for a longer period. So the balnce is to still be proftable to mine but without running out of coins,  so we do a lot of calculations at the moment.
But if you look at the multipools since they went on the coin the average btc payout pr mhs has increased by almost 0,00002 and thats not healthy at all as I see it.

[Frogman]

I am giving 5-10 LTCD away free to each person who writes their address on a thread I made.

Made it 5 min ago, already 5 addresses posted, and a lot more are watching the thread...

Wanna donate to the cause of free coins to the people then throw some small amounts to this address if you have some spare change

LTCD donation address: LVcURS8XhBatka1aEJjZEgzDxrA1eMtQRR

What thread?

[Hamuki]

I am giving 5-10 LTCD away free to each person who writes their address on a thread I made.

Made it 5 min ago, already 5 addresses posted, and a lot more are watching the thread...

Wanna donate to the cause of free coins to the people then throw some small amounts to this address if you have some spare change

LTCD donation address: LVcURS8XhBatka1aEJjZEgzDxrA1eMtQRR

What thread?

On TBN.

Thebot.net

[bpool]

Please don't ignore China users, thank you.
Hope can be placed on DEV posts,

“LTCD QQ Group 96569028”

[sgwayne]

As requested I have posted a black version of the logo. Not trying to step on any toes, but just more options
https://bitcointalk.org/index.php?topic=781305.new#new

[bpool]

As requested I have posted a black version of the logo. Not trying to step on any toes, but just more options
https://bitcointalk.org/index.php?topic=781305.new#new

In China. "LD" homophonic "eldest brother, Boss" mean, very good!



I also like the logo! Blue Rongji

[LitecoinDarkFilm]

As requested I have posted a black version of the logo. Not trying to step on any toes, but just more options
https://bitcointalk.org/index.php?topic=781305.new#new

Im glad someone tried my idea of the greek letters. Something different. Im happy to see everyones idea being thought of. Makes me feel really good!

[darylluke]

Most likely, NO.

If it gets mined out in the near future, miners will likely lose interest and many will point their rigs elsewhere which would slow transactions down noticably.

If a time comes when LTCD transfers begin to take as long as BTC (10 minutes to many hours), less trading will probably take place influencing less people to be interested in the coin. The value/price of a coin is based more on how interested people are than any other single factor. Also, if transaction speed drops and people wander off elsewhere, the potential for attracting businesses to use the coin for accepting payments will be greatly reduced. It is important to attract business. A coin that can only be traded back and forth or used for web-tipping will eventually stagnate. A coin that can be spent to buy electronic gadgets, coffee, crafting supplies, gasoline, groceries, etc ... becomes a negotiable instrument with real-world use for bartering into and out of tangible goods.

If we keep mining the way it is and it finishes quickly to 82million, from there, wont the price go up pretty fast?

+100

[darylluke]

Please don't ignore China users, thank you.
Hope can be placed on DEV posts,

“LTCD QQ Group 96569028”

+100 {DO NOT IGNORE.}

[Xircom]

Please don't ignore China users, thank you.
Hope can be placed on DEV posts,

“LTCD QQ Group 96569028”

We won't.please send a pm to main dev.

[Litecoindark]

Dear Community,

The final logo voting is online! http://litecoindark.com/logo-voting
Please make your vote so we have a new logo this weekend!

Regards,

LitecoinDark Dev

[bitcoinbelieve]

I do understand the reasoning as to why to lower the amount.

That said; please consider that there are folks just getting into  crypto mining who don't have alot of hashing power and don't rent rigs for whatever reason (I am one of them. I just branched into scrypt coins 4 weeks ago using a 5-chip grid seed).

I get ~12 coins/day avg since the halving. Now compared to others here, that is a pittance.  I buy hardware as I can afford it.

My concern is that if it is reduced too much, new entry level miners won't stick around.
New miners are the ones that are gonna help grow the coin.   Don't cut them off.

I was mining a coin that was only cpu/gpu. At it's 6 month date; it switched the algo so only an R9 GPU could mine it. That forced me out as I was mining it on a laptop.
That Dev never replied to my PM and the community basicly said... too bad too sad goodby don't let the door hit ya on the way out. They said it had to be so to up the overall hashrate of the coin.

So when you make the changes to the block; plz keep in mind how this will impact the small miners and try to minimize the impact on them.
Don't throw the baby out with the bath water.

Buying the coins is better way to obtain LTCD rather than mining

[bpool]

I do understand the reasoning as to why to lower the amount.

That said; please consider that there are folks just getting into  crypto mining who don't have alot of hashing power and don't rent rigs for whatever reason (I am one of them. I just branched into scrypt coins 4 weeks ago using a 5-chip grid seed).

I get ~12 coins/day avg since the halving. Now compared to others here, that is a pittance.  I buy hardware as I can afford it.

My concern is that if it is reduced too much, new entry level miners won't stick around.
New miners are the ones that are gonna help grow the coin.   Don't cut them off.

I was mining a coin that was only cpu/gpu. At it's 6 month date; it switched the algo so only an R9 GPU could mine it. That forced me out as I was mining it on a laptop.
That Dev never replied to my PM and the community basicly said... too bad too sad goodby don't let the door hit ya on the way out. They said it had to be so to up the overall hashrate of the coin.

So when you make the changes to the block; plz keep in mind how this will impact the small miners and try to minimize the impact on them.
Don't throw the baby out with the bath water.

Buying the coins is better way to obtain LTCD rather than mining

+1
I have bought the 10BTC in bittrex

[Angora]

I do understand the reasoning as to why to lower the amount.

That said; please consider that there are folks just getting into  crypto mining who don't have alot of hashing power and don't rent rigs for whatever reason (I am one of them. I just branched into scrypt coins 4 weeks ago using a 5-chip grid seed).

I get ~12 coins/day avg since the halving. Now compared to others here, that is a pittance.  I buy hardware as I can afford it.

My concern is that if it is reduced too much, new entry level miners won't stick around.
New miners are the ones that are gonna help grow the coin.   Don't cut them off.

I was mining a coin that was only cpu/gpu. At it's 6 month date; it switched the algo so only an R9 GPU could mine it. That forced me out as I was mining it on a laptop.
That Dev never replied to my PM and the community basicly said... too bad too sad goodby don't let the door hit ya on the way out. They said it had to be so to up the overall hashrate of the coin.

So when you make the changes to the block; plz keep in mind how this will impact the small miners and try to minimize the impact on them.
Don't throw the baby out with the bath water.

Buying the coins is better way to obtain LTCD rather than mining

+1
I have bought the 10BTC in bittrex

As a miner, any coins I mine I can convert to another coin or sell for USD w/o having to be subject to FinCEN rules as long as it is for personal use.  Converting USD to crypto coins is a grey area and my understanding of FinCEN rules is that you are transferring (converting) money and then are subject to licensing rules.  That is a can of worms I want to avoid.   In a previous post pages back; I have posted the link to the FinCEN info.

[Furio]

Hi fellow LTCD-ers,

Sorry to mess up the thread, but this new dice gambling site is really cool, and you can start without depositing, just ask for some free btc to play Check out my signature!

[bpool]

I do understand the reasoning as to why to lower the amount.

That said; please consider that there are folks just getting into  crypto mining who don't have alot of hashing power and don't rent rigs for whatever reason (I am one of them. I just branched into scrypt coins 4 weeks ago using a 5-chip grid seed).

I get ~12 coins/day avg since the halving. Now compared to others here, that is a pittance.  I buy hardware as I can afford it.

My concern is that if it is reduced too much, new entry level miners won't stick around.
New miners are the ones that are gonna help grow the coin.   Don't cut them off.

I was mining a coin that was only cpu/gpu. At it's 6 month date; it switched the algo so only an R9 GPU could mine it. That forced me out as I was mining it on a laptop.
That Dev never replied to my PM and the community basicly said... too bad too sad goodby don't let the door hit ya on the way out. They said it had to be so to up the overall hashrate of the coin.

So when you make the changes to the block; plz keep in mind how this will impact the small miners and try to minimize the impact on them.
Don't throw the baby out with the bath water.

Buying the coins is better way to obtain LTCD rather than mining

+1
I have bought the 10BTC in bittrex

As a miner, any coins I mine I can convert to another coin or sell for USD w/o having to be subject to FinCEN rules as long as it is for personal use.  Converting USD to crypto coins is a grey area and my understanding of FinCEN rules is that you are transferring (converting) money and then are subject to licensing rules.  That is a can of worms I want to avoid.   In a previous post pages back; I have posted the link to the FinCEN info.

Yes, initially mining LTCD, now mining is better to buy cost-effective

Sorry, my English is not good