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Author Topic: Litecoins--Dead or Alive?  (Read 3615 times)
Vorksholk
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May 08, 2012, 01:53:02 AM
 #1

Hello Smiley I have recently become interested in LTC and have mined 7-8 of them (mostly on GPU, ~75khash/s).

I was curious what you guys thought... is litecoin dead? Are there any known merchants that accept LTC? I poked around on the internet and couldn't find any merchants accepting them, did I miss something? I understand the exchange rate is orders of magnitude lower than BTC (1BTC is worth thousands of LTC).

Fold Proteins, earn cryptos! CureCoin.
https://bitcointalk.org/index.php?topic=603757.0
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payb.tc
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May 08, 2012, 01:58:10 AM
 #2

i'm also curious how these are going.

i bought a few for 0.001 btc each, and since then they've dropped to 0.0006.
tacotime
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May 08, 2012, 01:58:26 AM
 #3

ltc is alive. People trade lots of it everyday. It's difficult to asic mine due to the heavy memory requirements, and still remains the only memory hard currency. It's probably worth more now that it's not botnet mined, and it's one of the longest lasting alt chains in existence.

Code:
XMR: 44GBHzv6ZyQdJkjqZje6KLZ3xSyN1hBSFAnLP6EAqJtCRVzMzZmeXTC2AHKDS9aEDTRKmo6a6o9r9j86pYfhCWDkKjbtcns
MarketNeutral
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May 08, 2012, 03:26:31 AM
 #4

I've done a few private ltc transactions recently.

At the risk of stating the obvious, make the market. Sell something for ltc. Or offer to buy something for ltc.

I think I'm in the minority however, as most ltc 'supporters' are hoarding them for speculative reasons.

I have hope for litecoin, because it has lasted so long, but it does need something bold to reinvigorate the market.
HorseRider
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May 08, 2012, 03:35:49 AM
 #5

if I rent a VPS to mine the litecoin, will the VPS service provider ban my account?  It's using KVM.

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
Fuzzy
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May 08, 2012, 04:59:19 AM
 #6

If it survives, it will become a secondary transaction medium once bitcoins become impossible for the average person to mine, and too valuable to spend directly.

It does after all have a much faster verification rate and higher "total coin" limit, making it better for day to day transactions.

That won't be for a long while though, so don't hold your breath.
sd
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May 08, 2012, 07:29:41 AM
 #7

If it survives, it will become a secondary transaction medium once bitcoins become impossible for the average person to mine, and too valuable to spend directly.

It does after all have a much faster verification rate and higher "total coin" limit, making it better for day to day transactions.

That won't be for a long while though, so don't hold your breath.

Average people don't need to mine, they can work for bitcoins or buy in with some other currency. BitCoins will never get too valuable to spend as they can be split into tiny fragments.

The faster verification rate is the only really useful thing about LiteCoin.
eleuthria
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May 08, 2012, 08:08:32 AM
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if I rent a VPS to mine the litecoin, will the VPS service provider ban my account?  It's using KVM.

Probably.  Any real VPS provider will have an acceptable use policy, and you can be sure abusing CPU resources is a part of it.

R.I.P. BTC Guild, 2011 - 2015.
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EskimoBob
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May 08, 2012, 11:29:33 AM
 #9

LTC is live and well but needs some serious service development. This is the only way to add any value to any coin - usable in real life. 
If you can code, please write a LTC payment plugin for Drupal, OsCommerce etc.

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
EskimoBob
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May 08, 2012, 11:52:17 AM
 #10

LTC is live and well but needs some serious service development. This is the only way to add any value to any coin - usable in real life. 
If you can code, please write a LTC payment plugin for Drupal, OsCommerce etc.


And here is a page, that needs help http://en.wikipedia.org/wiki/Litecoin Smiley
My English is not good Enough to write it. Can you do it?

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
idev
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May 08, 2012, 12:05:07 PM
 #11

if I rent a VPS to mine the litecoin, will the VPS service provider ban my account?  It's using KVM.

It really depends on the hosts AUP, im currently mining LTC on a cloud and my hosting provider has not suspended my account.
(touch wood)
matthewh3
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May 08, 2012, 12:17:16 PM
 #12

if I rent a VPS to mine the litecoin, will the VPS service provider ban my account?  It's using KVM.

I good provider shouldn't ban you maybe if you was taking up too many resource's on the VPS?  Anyway it probably makes a lot more sense to use the money you would spend on the VPS to buy litecoin at an exchange.  You'd probably get more LTC at the moment.

ElectricMucus
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May 08, 2012, 01:41:32 PM
 #13

Litecoin is dead.

I acquired some before they were on a exchange for 0.01 btc and they were loosing in value ever since.
I supported LTC from the start and even participated in the logo contest. It turned out to be the worst investment both in time and money I ever made.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
EskimoBob
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May 08, 2012, 02:17:35 PM
 #14

Litecoin is dead.

I acquired some before they were on a exchange for 0.01 btc and they were loosing in value ever since.
I supported LTC from the start and even participated in the logo contest. It turned out to be the worst investment both in time and money I ever made.


What, waving your hands and whining is not helping?

While reading what I wrote, use the most friendliest and relaxing voice in your head.
BTW, Things in BTC bubble universes are getting ugly....
cbeast
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May 08, 2012, 02:28:15 PM
 #15

I wouldn't call litecoin dead, just dormant. Its revival will probably depend on a great success of Bitcoin.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
str4wm4n
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May 08, 2012, 06:50:11 PM
 #16

The same types of products available for purchase with BTC need to be available for purchase with LTC, simple enough.
ElectricMucus
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May 08, 2012, 07:43:48 PM
 #17

Litecoin is dead.

I acquired some before they were on a exchange for 0.01 btc and they were loosing in value ever since.
I supported LTC from the start and even participated in the logo contest. It turned out to be the worst investment both in time and money I ever made.


What, waving your hands and whining is not helping?

Nope  Embarrassed
I'm not whining btw. Just telling my story about litecoin.
Now if I were to make a thread complaining about the crackdown on litecoin prices that would be whining, but I'm not gonna do that.

And who knows maybe they'll rise in value again some day. So I'm fine Smiley


But now I can safely make the following statement:
Copying BTC with another cryptocurrency within it's community is not viable, at all, the whole concept of alternate cryptocurrencies is flawed as long as there isn't a substantial difference and/or improvement.

First they ignore you, then they laugh at you, then they keep laughing, then they start choking on their laughter, and then they go and catch their breath. Then they start laughing even more.
bulanula
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May 08, 2012, 08:46:10 PM
 #18

Hello Smiley I have recently become interested in LTC and have mined 7-8 of them (mostly on GPU, ~75khash/s).

I was curious what you guys thought... is litecoin dead? Are there any known merchants that accept LTC? I poked around on the internet and couldn't find any merchants accepting them, did I miss something? I understand the exchange rate is orders of magnitude lower than BTC (1BTC is worth thousands of LTC).


Nice try Solidcoin sockie.


~BCX~

OK. Let me guess the connection :

they both start with the letter V !

Vorksholk = ViperLemon dude Huh

How much are you getting paid to pump up MicroCa$h this time around ?

Strange you were dormant for months but since MC has been announced you are always promoting ScamCoin ...
sd
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May 08, 2012, 08:47:45 PM
 #19

But now I can safely make the following statement:
Copying BTC with another cryptocurrency within it's community is not viable, at all, the whole concept of alternate cryptocurrencies is flawed as long as there isn't a substantial difference and/or improvement.

That's been proved true over and over again.

We need alts that actually do different stuff not more BitCoin copies with very minor changes.


BitCoin was a proof of concept and it proved the concept amazingly well. What now?
Vorksholk
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May 08, 2012, 09:30:23 PM
 #20

Guys I don't support SolidCoin, doesn't seem like the people behind it have any interest in anything but profit, and the latest MicroCash whatever seems more than a tad fishy with statements like "Sell your bit coins while you can!", etc. I was simply wondering what you guys thought about Litecoin as I've had some fun mining them lately and have around 45 and was wondering if the project was dead or not.

At any rate, does anyone know of any retailers that actually do accept LTC for one thing or another? I'd simply like to know if I have any options for spending them.

Fold Proteins, earn cryptos! CureCoin.
https://bitcointalk.org/index.php?topic=603757.0
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