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Author Topic: To all the Litecoin haters, trolls and twats  (Read 9399 times)
tacotime
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July 12, 2012, 04:24:53 AM
 #21

Litecoin will have its day.  Unfortunately just not today.

LTC had it's day, and it was almost literally a day.  RIP LTC.

No, the market is much healthier now.  Mining is no longer 100% more profitable than bitcoin, the price is stabilizing and the network hash rate isn't going crazy but it is going up.  The most important thing is that the number of buy orders is still 1.4k BTC, almost as high as it was last week.  People are taking LTC more seriously now and want a bigger chunk of it if the price falls.  I expect the price will climb over the next 3 months slowly.

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July 12, 2012, 04:25:44 AM
 #22

The naysayers still have yet to present any real arguments against Litecoin other than "Bitcoin is just as good and works."

I hear the client is trash. Haven't seen it first hand.

The client is just bitcoin-qt, same as regular bitcoin client more or less.

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July 12, 2012, 04:34:04 AM
 #23

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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July 12, 2012, 04:49:04 AM
 #24

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Just like MySpace is so much more popular than Facebook bcuz it was the original? Lol

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July 12, 2012, 04:58:41 AM
 #25

I present the LTC pump and dump.  Well played, well played.



This chart reminds me of the Great Bitcoin Overshoot and Collapse of 2011.

Remember, when it went to liek $30 and then was stuck at $2 for months?

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
Fungibility provides privacy as a side effect.  Adam Back 2014
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Wallets - Podcats - Roadmap - Dice - Blackjack - Github - Android }


Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016
Blocks must necessarily be full for the Bitcoin network to be able to pay for its own security.  davout 2015
Blocksize is an intentionally limited resource, like the 21e6 BTC limit.  Changing it degrades the surrounding economics, creating negative incentives.  Jeff Garzik 2013


"I believed @Dashpay instamine was a bug & not a feature but then read: https://bitcointalk.org/index.php?topic=421615.msg13017231#msg13017231
I'm not against people making money, but can't support questionable origins."
https://twitter.com/Tone_LLT/status/717822927908024320


The raison d'être of bitcoin is trustlessness. - Eric Lombrozo 2015
It is an Engineering Requirement that Bitcoin be “Above the Law”  Paul Sztorc 2015
Resiliency, not efficiency, is the paramount goal of decentralized, non-state sanctioned currency -Jon Matonis 2015

Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016

Technology tends to move in the direction of making surveillance easier, and the ability of computers to track us doubles every eighteen months. - Phil Zimmerman 2013

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

"Hard forks cannot be co
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July 12, 2012, 05:01:51 AM
 #26

The naysayers still have yet to present any real arguments against Litecoin other than "Bitcoin is just as good and works."

+1

I find it funny that bitcoin developers don't show support for alt-chains.

Only thing that gives reason to this would be how much of a stake they have already in bitcoin....i.e. money.

Once again it's about money...big surprise.

 Grin Grin Grin

That is SO true. Just so long as we pretend that btc devs ignore Namecoin.  And didn't jump in to save it with merged mining when it was threatened with 51% attacks.

Yep.  Besides Namecoin, what you said is totally true.  Oh wait...

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
Fungibility provides privacy as a side effect.  Adam Back 2014
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Wallets - Podcats - Roadmap - Dice - Blackjack - Github - Android }


Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016
Blocks must necessarily be full for the Bitcoin network to be able to pay for its own security.  davout 2015
Blocksize is an intentionally limited resource, like the 21e6 BTC limit.  Changing it degrades the surrounding economics, creating negative incentives.  Jeff Garzik 2013


"I believed @Dashpay instamine was a bug & not a feature but then read: https://bitcointalk.org/index.php?topic=421615.msg13017231#msg13017231
I'm not against people making money, but can't support questionable origins."
https://twitter.com/Tone_LLT/status/717822927908024320


The raison d'être of bitcoin is trustlessness. - Eric Lombrozo 2015
It is an Engineering Requirement that Bitcoin be “Above the Law”  Paul Sztorc 2015
Resiliency, not efficiency, is the paramount goal of decentralized, non-state sanctioned currency -Jon Matonis 2015

Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016

Technology tends to move in the direction of making surveillance easier, and the ability of computers to track us doubles every eighteen months. - Phil Zimmerman 2013

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

"Hard forks cannot be co
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July 12, 2012, 05:17:46 AM
 #27

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Just like MySpace is so much more popular than Facebook bcuz it was the original? Lol
Myspace was a service not a commodity. Wrong analogy. If Myspace had launched an IPO and took their business model seriously, there may never have been a FaceBook IPO.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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July 12, 2012, 07:47:00 AM
 #28

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Just like MySpace is so much more popular than Facebook bcuz it was the original? Lol
Myspace was a service not a commodity. Wrong analogy. If Myspace had launched an IPO and took their business model seriously, there may never have been a FaceBook IPO.

Oh so you're saying that it has to be a commodity in order for it to apply? How is being a commodity have anything to do with how YOU mentioning something being an original implies it will get more attention???

Wrong basis! lol  Grin Grin Grin Grin

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July 12, 2012, 01:59:29 PM
 #29

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Just like MySpace is so much more popular than Facebook bcuz it was the original? Lol
Myspace was a service not a commodity. Wrong analogy. If Myspace had launched an IPO and took their business model seriously, there may never have been a FaceBook IPO.

Oh so you're saying that it has to be a commodity in order for it to apply? How is being a commodity have anything to do with how YOU mentioning something being an original implies it will get more attention???

Wrong basis! lol  Grin Grin Grin Grin

You can't argue with that. I'm not hating on litecoin. The market cap on litecoin is fantastically successful. I can't wait until someone buys pizza with it! CPUs are here forever and computers will never change! Litecoin is AWESOME!!!!

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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July 12, 2012, 02:15:36 PM
 #30

Quote
You can't argue with that. I'm not hating on litecoin. The market cap on litecoin is fantastically successful. I can't wait until someone buys pizza with it! CPUs are here forever and computers will never change! Litecoin is AWESOME!!!!

It has been done already 2 weeks ago and pizza is very expensive now, around 100 usd the pizza at actual price...  https://bitcointalk.org/index.php?topic=90019.0

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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July 12, 2012, 03:14:48 PM
 #31

OK I'll stop the snark and I'm not against the idea of litecoin. I hope to learn more about it. Whether or not it's just another alternate crypcoin remains to be seen. The scrypt protocol seems secure, but I'm not so sure this won't have even greater obstacles to scalability in the future than Bitcoin due to the hardware requirements. A hardware based encryption seems like it it can be exploited by hardware manufacturers even more so than Bitcoin which uses a simple encryption method.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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July 12, 2012, 06:49:23 PM
 #32

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Just like MySpace is so much more popular than Facebook bcuz it was the original? Lol
Myspace was a service not a commodity. Wrong analogy. If Myspace had launched an IPO and took their business model seriously, there may never have been a FaceBook IPO.

Oh so you're saying that it has to be a commodity in order for it to apply? How is being a commodity have anything to do with how YOU mentioning something being an original implies it will get more attention???

Wrong basis! lol  Grin Grin Grin Grin

You can't argue with that. I'm not hating on litecoin. The market cap on litecoin is fantastically successful. I can't wait until someone buys pizza with it! CPUs are here forever and computers will never change! Litecoin is AWESOME!!!!

Already did it bro...I'm ahead of you like you don't know LOL!  Grin Grin Grin

https://bitcointalk.org/index.php?topic=90019.0

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July 12, 2012, 06:52:17 PM
 #33

I am not a Litecoin hater. I just think it is irrelevant.

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July 12, 2012, 07:02:01 PM
 #34

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Uh, around here, Pepsi is much more popular as opposed to Coca Cola. While I for one would choose coke any day, you can almost never get it in restaurants or vending machines around here. But you can get Pepsi. The only places that sell coke are some gas stations and grocery stores.

Just saying. Maybe that's like the hole Bitcoin =  ASIC & Litecoin = GPU/CPU argument.
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July 12, 2012, 07:17:40 PM
 #35

The problem isn't with litecoin, it's the fact that no cryptocurrency will replace Bitcoin. It will take a monumental leap in usefulness to oust Bitcoin. Even if a billionaire were to build custom designed chips for litecoin and get every bank in America to become miners for litecoin, Bitcoin would grow faster in popularity because it is the original. It is the Levis Jeans, the Coca-cola, the Ford-don't-need-no-bailout, of original crypcoin. Litecoin will always be Pepsi at best.

Uh, around here, Pepsi is much more popular as opposed to Coca Cola. While I for one would choose coke any day, you can almost never get it in restaurants or vending machines around here. But you can get Pepsi. The only places that sell coke are some gas stations and grocery stores.

Just saying. Maybe that's like the hole Bitcoin =  ASIC & Litecoin = GPU/CPU argument.

As a former Coca-Cola employee (a function head level) I am in position to tell you with some authority that you shall not assume that network effects of soft drinks and "currency" and "store of value" sectors are similar. You'd be a little more accurate if you have used Ebay and say ubid.com as your examples instead of Coca-Cola and Pepsi.




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July 12, 2012, 07:33:04 PM
 #36

I am not a Litecoin hater. I just think it is irrelevant.


What exactly is irrelevant?

And who said there had to be any relevance to bitcoin?

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Vladimir
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July 12, 2012, 07:53:47 PM
 #37

I am not a Litecoin hater. I just think it is irrelevant.


What exactly is irrelevant?

And who said there had to be any relevance to bitcoin?

Not relevance to Bitcoin, but relevance to any chances of litecoin's long term success.

You guys will not like what I say. Indeed, there likely will be a "silver" to Bitcoin's "gold" but it is not litecoin.

Of course, hashing  algo like scrypt(bcrypt(sha512(whirlpool(GOST(whatever(data+nonce...)+nonce)+nonce)+nonce)+nonce) would be a great thing to have. But this and some other minor tweaks are simply not enough to breach the network effect of Bitcoin.

The "silver" crypto currency  must be much more fundamentally different from Bitcoin and complimentary to Bitcoin at the same time to have any decent chances of success. Litecoin simply ain't it.



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kokjo
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July 12, 2012, 08:00:14 PM
 #38

i agrees with Vladimir, im no litecoin hater, but i think that litecoin is irrelevant.

litecoin brings nothing ground breaking new to cryptocurrencies, and bitcoin have a much larger userbase then litecoin. namecoin is different then litecoin, as it brings something redically new: a distributed dns-like system. thats why namecoin might survive and litecoin will not. a namecoin clone that was cpu-mined and infaltonary, would also not survive, becuase we already have namecoin. if the namecoin clone came first, it would be that one that would survive.

one of the good thing with alt-chains, is that they are experimental, and they serves as a testing ground for new features(cpu-mining, 10s-blocks, infaltion/deflation, ...) for cryptocurrencies. but sadly that will all die at some point, because there are no need for them.

conclusion:
litecoin is late to the party. sorry mates.

"The whole problem with the world is that fools and fanatics are always so certain of themselves and wiser people so full of doubts." -Bertrand Russell
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July 12, 2012, 10:24:33 PM
 #39

I think that to let the monopol to BTC is dangerous making people dependent of only one cryptocurrency, and LTC could break the rule which is more good than bad IMO. Then I can understand big Bitcoin holder who fear for their investment but I'm sure LTC wont play on btc rates so no fear to have at end.

Crypto-trade.com : https://bitcointalk.org/index.php?topic=149458.0
https://koddos.com and http://kovpslayer.com.  "Bitcointalkdiscount" to get 10% discount recurring.
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July 12, 2012, 10:36:39 PM
 #40

I am not a Litecoin hater. I just think it is irrelevant.


What exactly is irrelevant?

And who said there had to be any relevance to bitcoin?

Not relevance to Bitcoin, but relevance to any chances of litecoin's long term success.

You guys will not like what I say. Indeed, there likely will be a "silver" to Bitcoin's "gold" but it is not litecoin.

Of course, hashing  algo like scrypt(bcrypt(sha512(whirlpool(GOST(whatever(data+nonce...)+nonce)+nonce)+nonce)+nonce) would be a great thing to have. But this and some other minor tweaks are simply not enough to breach the network effect of Bitcoin.

The "silver" crypto currency  must be much more fundamentally different from Bitcoin and complimentary to Bitcoin at the same time to have any decent chances of success. Litecoin simply ain't it.




I disagree. Look at cars (ford, honda, toyota, ...etc.) as just one example of where your "theory" (because you nor no one else knows the future) is flawed.

Honda, Toyota, Mistubishi, Chevy, etc...took the same concept of an "automobile" and copied it and made it their own. Yes they aren't designed identically, but the idea is the same.

Just like pepsi and coke. Coke was first and pepsi came along and change a few things (since most of the ingredients is water)...and voila....success.

So no Vladimir, most of the time I am in agreement with you, but here I do not simply because your theory fails to hold up in real world examples that are plainly obvious.

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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