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

[cjmining]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

[madmartyk]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

The price would have to rise to 20000 to be equal to what it is now, if the price rises the whales will dump and take the profit.  It happens with Alts all the time.

[Hamuki]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

Factors:

1. Someone is holding around 20% of all coins.. That is BAD.
2. If this coin is going to be profitable to mine when you only get about 1 LTCD with 150MH/s+ then it the price will be insanely high, and impossible.
3. This can damage the coin a lot.

I am not trying to FUD, scam or what ever you call it.. I hold 40k coins and im gonna keep holding..
I am just scared that this might damage us :/

[Furio]

It's movin all up

[Xircom]

- New block reward......32 coins.
- When? At block number 37000

Waiting to see the hash rate drop like a stone!!  From 800 to 32, that's going to make lots of miners happy as hell!!  

32 coins? O_O

That makes me a little afraid :/

People might say "Fuck it im leaving" and make the coin worthless

Can someone please tell me that I am wrong?
Because I hope that I am.

Right now my 160 Mh/s is netting me 40 per block at the pool, that means at 32/block I'll net .5 per block.  After 37000 I'll find something to mine that will pay the electric bill!!  I think you are going to screw the pooch on this move.  Just my 2 LTCD worth!

Im sorry that you feel that way and we knew some miners would not be happy about this, but this is the best solution for the coin in the long run.
If you look at Dark Coin you get 5 coins pr. 24 hours with 200 M/hash X11 and network still haves around 100 G/hash. We are not that afraid that miners will leave, but some will do of cause.

It's all about the ROI, Right now I'm making .05 BTC a day with LTDC, you have many more miners with a lot more hash rate then I have.  If they can't make money mining, they WILL move to the next best thing.  I can still mine OCTO and make .04 BTC a day.  Once the miners dry up, who is going to produce coins for the speculators hoping to make a killing?

I really like mining this coin, but in 1200 blocks time to move on.  These ASICs have to pay for themselves somehow!!  I wish you all well!!!

Thanks and good luck to you too

[Kimonio]

This change was made due to overwhelming support for it by the community.  Some will abandon it, others will finally get a chance to mine it.  All in all, it will serve to decrease supply to match demand for the coin.  Until payment processors are completed demand will be entirely determined by investors.  Once I can slow down this insane development cycle I can focus on payment processors.

I think its a great move to limit the overall supply. However, instead of mining at a low block reward for the reasons people mentioned above (low incentive to mine due to small block rewards) you may want to consider implementing PoS sooner with a small percentage. Maybe even a dynamic interest rate model that is network dependent and capped at 2.5 percent (similar to Vericoin).

Users would then be incentivized to keep their wallet open to help secure the network.

[cjmining]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

Factors:

1. Someone is holding around 20% of all coins.. That is BAD.
2. If this coin is going to be profitable to mine when you only get about 1 LTCD with 150MH/s+ then it the price will be insanely high, and impossible.
3. This can damage the coin a lot.

I am not trying to FUD, scam or what ever you call it.. I hold 40k coins and im gonna keep holding..
I am just scared that this might damage us :/

Totally agree. All depends on price. Only time will tell

[kaene]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

Factors:

1. Someone is holding around 20% of all coins.. That is BAD.
2. If this coin is going to be profitable to mine when you only get about 1 LTCD with 150MH/s+ then it the price will be insanely high, and impossible.
3. This can damage the coin a lot.

I am not trying to FUD, scam or what ever you call it.. I hold 40k coins and im gonna keep holding..
I am just scared that this might damage us :/

Who is holding 20% of all coins? Wouldn't that wallet be probably bittrex?

[Hamuki]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

Factors:

1. Someone is holding around 20% of all coins.. That is BAD.
2. If this coin is going to be profitable to mine when you only get about 1 LTCD with 150MH/s+ then it the price will be insanely high, and impossible.
3. This can damage the coin a lot.

I am not trying to FUD, scam or what ever you call it.. I hold 40k coins and im gonna keep holding..
I am just scared that this might damage us :/

Who is holding 20% of all coins? Wouldn't that wallet be probably bittrex?

No idea. I hope that its an exchange

[Kimonio]

Who is holding 20% of all coins? Wouldn't that wallet be probably bittrex?

Definitely not an exchange. If you look on the block explorer you only see transactions going in with very little leaving the wallet.

Its definitely a miner with a ton of hash power thats been mining the coin from the very beginning.

http://www.richlist.eu/litecoindark/stats/LVS7x6bBWFqFbBd8F8d14aPkp6cH3k1HgE

[TrollByFire]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

Factors:

1. Someone is holding around 20% of all coins.. That is BAD.
2. If this coin is going to be profitable to mine when you only get about 1 LTCD with 150MH/s+ then it the price will be insanely high, and impossible.
3. This can damage the coin a lot.

I am not trying to FUD, scam or what ever you call it.. I hold 40k coins and im gonna keep holding..
I am just scared that this might damage us :/

Keep in mind: The community decided that exhausting the total supply of ltcd in such a short time was potentially more damaging than decreasing block rewards now.  Total supply is still 82,003,200 coins.  Our two options to extend the mining period were to either increase total supply or decrease block rewards.  Increasing total supply would mean inflation and price would likely drop.  Decreasing block rewards sooner would keep total supply constant and slow the rate that new coins are being introduced into circulation.  Personally, I was against lowering rewards to begin with as well, but after I started implementing the changes I saw some of the community's reasoning behind doing so.

As I've stated from the beginning: I keep my head out of the market.  If you're worried, don't buy.  That's the best advice I can give you.  I don't see how this will be damaging in the long term simply due to the fact that the total coin supply has not changed, but my market opinion matters little, as I am not and will never be a "trader".  We've simply lowered the reward structure to increase the amount of time between now and when the last LTCD will be mined.

This change was made due to overwhelming support for it by the community.  Some will abandon it, others will finally get a chance to mine it.  All in all, it will serve to decrease supply to match demand for the coin.  Until payment processors are completed demand will be entirely determined by investors.  Once I can slow down this insane development cycle I can focus on payment processors.

I think its a great move to limit the overall supply. However, instead of mining at a low block reward for the reasons people mentioned above (low incentive to mine due to small block rewards) you may want to consider implementing PoS sooner with a small percentage. Maybe even a dynamic interest rate model that is network dependent and capped at 2.5 percent (similar to Vericoin).

Users would then be incentivized to keep their wallet open to help secure the network.

We already have a few additional changes and modifications planned.  I will not, however, keep up this development pace.  The next few updates will likely contain only bug fixes and some core restructuring and unless something else is requested with such massive community demand, will not hard fork again until 1.3.0.

This is yet another reason lowering the block reward was preferable.  The longer the coin can be mined, the more time I can spend testing actual feature additions as opposed to chasing down problems.  

This is a community coin, and while ultimately I am responsible for what goes into the code, I do not make the decisions behind it.  I rather enjoy working on it in this fashion.

[Hamuki]

If block reward goes down, but the price rises, then miners will stay. I know i will. Been mining it since it was launched.

Factors:

1. Someone is holding around 20% of all coins.. That is BAD.
2. If this coin is going to be profitable to mine when you only get about 1 LTCD with 150MH/s+ then it the price will be insanely high, and impossible.
3. This can damage the coin a lot.

I am not trying to FUD, scam or what ever you call it.. I hold 40k coins and im gonna keep holding..
I am just scared that this might damage us :/

Keep in mind: The community decided that exhausting the total supply of ltcd in such a short time was potentially more damaging than decreasing block rewards now.  Total supply is still 82,003,200 coins.  Our two options to extend the mining period were to either increase total supply or decrease block rewards.  Increasing total supply would mean inflation and price would likely drop.  Decreasing block rewards sooner would keep total supply constant and slow the rate that new coins are being introduced into circulation.  Personally, I was against lowering rewards to begin with as well, but after I started implementing the changes I saw some of the community's reasoning behind doing so.

As I've stated from the beginning: I keep my head out of the market.  If you're worried, don't buy.  That's the best advice I can give you.  I don't see how this will be damaging in the long term simply due to the fact that the total coin supply has not changed, but my market opinion matters little, as I am not and will never be a "trader".  We've simply lowered the reward structure to increase the amount of time between now and when the last LTCD will be mined.

This change was made due to overwhelming support for it by the community.  Some will abandon it, others will finally get a chance to mine it.  All in all, it will serve to decrease supply to match demand for the coin.  Until payment processors are completed demand will be entirely determined by investors.  Once I can slow down this insane development cycle I can focus on payment processors.

I think its a great move to limit the overall supply. However, instead of mining at a low block reward for the reasons people mentioned above (low incentive to mine due to small block rewards) you may want to consider implementing PoS sooner with a small percentage. Maybe even a dynamic interest rate model that is network dependent and capped at 2.5 percent (similar to Vericoin).

Users would then be incentivized to keep their wallet open to help secure the network.

We already have a few additional changes and modifications planned.  I will not, however, keep up this development pace.  The next few updates will likely contain only bug fixes and some core restructuring and unless something else is requested with such massive community demand, will not hard fork again until 1.3.0.

This is yet another reason lowering the block reward was preferable.  The longer the coin can be mined, the more time I can spend testing actual feature additions as opposed to chasing down problems.  

This is a community coin, and while ultimately I am responsible for what goes into the code, I do not make the decisions behind it.  I rather enjoy working on it in this fashion.

I am just thinking about the miners, the person who holds 20% of the coins, and new people that wanna get into the coin.

I dont mine and I dont buy and sell..

Im holding my coins and have done that for a long time.

[Martin958]

I think any miners screaming they don't want difficulty to increase are just those hoarding for the grand pump and dump off that every alt gets.

Any miners happy to carry on are the type with the long term vision to see a gradual price increase over time. IMHO.

Sorry if this coin wont cover all of your ASIC buying costs, but I don't think it was ever made for that purpose anyway.

[xX_otto_Xx]

As someone that has invested in the coin, I would hold to get the most for my investment. The market is being flooded with the coins that are being mined. The coin value is worth alot more value then 1000sat. Once the miners quit flooding the market for small profit, the coin will gain its value again. Once PoS is in places that will solve the transaction speed. The miners will only dump for small profit and kill the coin, the investors will save it. Best to buy what you can and hold while there cheap, if someone wants to dump them then a investor or day trader will pick them up. Good Luck everyone and thanks to the Dev team, Hopefully this will put us on the right track.

[Kimonio]

We already have a few additional changes and modifications planned.  I will not, however, keep up this development pace.  The next few updates will likely contain only bug fixes and some core restructuring and unless something else is requested with such massive community demand, will not hard fork again until 1.3.0.

This is yet another reason lowering the block reward was preferable.  The longer the coin can be mined, the more time I can spend testing actual feature additions as opposed to chasing down problems.  

This is a community coin, and while ultimately I am responsible for what goes into the code, I do not make the decisions behind it.  I rather enjoy working on it in this fashion.

Thanks for the update. I appreciate all the work you and your team have done for the coin.

I will continue to mine the coin irrespective of the block rewards to help secure the network and for the fact that I truly believe in this coin and that comes from my strong belief in you and your team.

Keep doing what you are doing! You are doing great work - I look forward to seeing how the coin develops in the future.

[Xircom]

By seeing the reactions, that's exactly the reaction we wanted.
We didn't want the multipools mining like crazy for dumping for btc as soon as they could.
A whole community is behind this decision and this community is very very strong 
This action will slow down the over floating of the marked and keep the coin rock steady and mineable for a long time.
Just remember whats in the pipeline in the months to come..

[BitCoin Operated Boy]

I think any miners screaming they don't want difficulty to increase are just those hoarding for the grand pump and dump off that every alt gets.

Any miners happy to carry on are the type with the long term vision to see a gradual price increase over time. IMHO.

Sorry if this coin wont cover all of your ASIC buying costs, but I don't think it was ever made for that purpose anyway.

I agree. The mad hoard addict on the 1st place of richlist will be really pissed off now :-)

As someone that has invested in the coin, I would hold to get the most for my investment. The market is being flooded with the coins that are being mined. The coin value is worth alot more value then 1000sat. Once the miners quit flooding the market for small profit, the coin will gain its value again. Once PoS is in places that will solve the transaction speed. The miners will only dump for small profit and kill the coin, the investors will save it. Best to buy what you can and hold while there cheap, if someone wants to dump them then a investor or day trader will pick them up. Good Luck everyone and thanks to the Dev team, Hopefully this will put us on the right track.

Good point :-)

[Viper1]

The discussion about the mining is interesting but somewhat flawed since no one can say how many coins they will get in a week or two once all those looking only for the highest profit drop out of the game and thus a persons daily percentage would go up.

And there should be no worry about miners "drying up" as that will never happen. There's a coin out there that few people know about and it's only minable via cpu and the wallet.  Doesn't have a GPU miner at this point and can't be mined via pools.  In fact, it recently had an update that "discourages" pool mining if I understand it correctly.  It's initial reward was about 67 coins and he dropped it way down to about 6.7. And to top that off, it's not on any exchange so no one can sell them off.  And yet people are mining it and in fact since it's launch, more people are mining it than at the start.  So I wouldn't be concerned about not having any miners.

[Martin958]

The discussion about the mining is interesting but somewhat flawed since no one can say how many coins they will get in a week or two once all those looking only for the highest profit drop out of the game and thus a persons daily percentage would go up.

And there should be no worry about miners "drying up" as that will never happen. There's a coin out there that few people know about and it's only minable via cpu and the wallet.  Doesn't have a GPU miner at this point and can't be mined via pools.  In fact, it recently had an update that "discourages" pool mining if I understand it correctly.  It's initial reward was about 67 coins and he dropped it way down to about 6.7. And to top that off, it's not on any exchange so no one can sell them off.  And yet people are mining it and in fact since it's launch, more people are mining it than at the start.  So I wouldn't be concerned about not having any miners.

I agree. The mine - dump - mine - dump - mine - dump variety can use the exit as soon as they like. I don't care how many mega hashes they can boast.

It's their constant selling that has held the price down for so long in the first place.

[TrollByFire]

Also of note; even if we were to lose a lot of miners, the difficulty would quickly adjust downward to compensate.  1.1.0 took care of that already.  Blocks will keep moving.