5 Reasons to NOT Buy or Mine Litecoin LTC in 2019/2020 | Profitability 2019

Dopert

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Quote from: adaseb on September 01, 2019, 02:03:24 AM

Satoshi did mine Bitcoin however. And from what people estimate he might own over a million coins from doing so. However its hard to say if he mined for money or not since people don't know if he actually spent any of it.

One of the reasons why he kept mining it might of been to keep the chain going, without someone mining the chain would come to a halt and people wouldn't be able to make transactions.

He stopped mining when more miners started to enter the market because he didn't have to mine then to keep the chain going. Whether he sold anything or not is hard to detect. Since nobody knows exactly when he stopped mining. He might be alive and well and selling his mined coins backwards, like from 2010 and on to prevent detection.

That make sense. Thinking about it, mining few honderd BTC a week with a home computer Grin

adaseb

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Quote from: Dopert on August 29, 2019, 12:12:02 PM

Quote from: Indamuck on August 29, 2019, 08:18:57 AM

Every coin has some type of premine, unfair launch, dev tax, or something to make the person that created the coin rich. Not many people are going to do something out of the goodness of their heart, they do it for hte money.

What do you think about satoshi? Just fedup with the moneysytem and giving poeple a tool to power or one day he will stand up as a doubtfull world leader or .... what other motivation?

Untill now i think its a great thing, but i can't see how it works out offcourse.

Satoshi did mine Bitcoin however. And from what people estimate he might own over a million coins from doing so. However its hard to say if he mined for money or not since people don't know if he actually spent any of it.

One of the reasons why he kept mining it might of been to keep the chain going, without someone mining the chain would come to a halt and people wouldn't be able to make transactions.

He stopped mining when more miners started to enter the market because he didn't have to mine then to keep the chain going. Whether he sold anything or not is hard to detect. Since nobody knows exactly when he stopped mining. He might be alive and well and selling his mined coins backwards, like from 2010 and on to prevent detection.

philipma1957

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'The right to privacy matters'

Quote from: Grumo on August 31, 2019, 06:26:11 AM

mining died for now.... but if price goes up then it will be worth again ... maybe it only need new stuff to mine it.?

I want to be back in 2015 when i used 3 mhs miner and did many ltc with so less hashrate and litecoin was worth 3$

what the future reserve for us?

I know the correct answer to that questions. Nobody really knows the future. It is just the way it is.

Grumo

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mining died for now.... but if price goes up then it will be worth again ... maybe it only need new stuff to mine it.?

I want to be back in 2015 when i used 3 mhs miner and did many ltc with so less hashrate and litecoin was worth 3$

what the future reserve for us?

judypug1956

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Quote from: Metroid on August 30, 2019, 04:55:23 AM

Quote from: Kodaman on August 30, 2019, 03:57:18 AM

Litecoin is the most over valued shitcoin imho.

So true, does nothing and yet is greatly overvalued. Before eth, ltc scammers loved saying ltc was better than btc because it has faster transaction block than btc, aftwer many coins faster than it were released, scammers have nothing else to say about it hehe, it indeed has become another shitcoin.

this is why I disagree with you. It has a lot of gear mining it so it is secure. As any coin other then btc. or possibly eth.

many gpu coin other then eth can be 51% attacked if eth miners switch from eth and go against it.
nicehash 51% attack via rentals were done more then once.

ltc is using the most asic gear to mine it so a 51% attack is difficult to do.

this does give ltc some value.

Metroid

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Quote from: Kodaman on August 30, 2019, 03:57:18 AM

Litecoin is the most over valued shitcoin imho.

So true, does nothing and yet is greatly overvalued. Before eth, ltc scammers loved saying ltc was better than btc because it has faster transaction block than btc, aftwer many coins faster than it were released, scammers have nothing else to say about it hehe, it indeed has become another shitcoin.

Kodaman

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Litecoin is the most over valued shitcoin imho.

philipma1957

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Quote from: VoskCoin on August 29, 2019, 08:33:58 AM

Quote from: Indamuck on August 29, 2019, 08:18:57 AM

Quote from: adaseb on August 28, 2019, 12:03:28 AM

Quote from: Metroid on August 25, 2019, 10:21:39 PM

Quote from: philipma1957 on August 25, 2019, 12:08:43 PM

Here is the deal LTC developers did some shady shit the first year it was built. I believe the builder could use Gpus to mine for many months while others could only mine with CPU’s.

Kano has gone into detail on this and I did some research it does appear that LTC developers did that years ago.

It was more than that, too many shady things happened, I know most of them, reason I never invested in ltc, ltc has always been a way to scam for bitcoin. That is why it was created, ltc's creator, charlie lee, won't say that but its the truth.

I wasn't around during the LTC main-net launch so this is news to me... never knew that LTC developers did this.

This actually reminds me of a similiar situation with Darkcoin (now called Dash coin) basically people analyzed the blockchain after the launch and they also did some analysis and found out that it was instamined in some way. I don't remember the details but X11 I think for a while might of been CPU only and later on it was GPU mineable. And lots of coins were pretty much premined in the early days and people have been complaining for years about the coin being shady.

Would have to find the post in the Dash thread to find out for sure though. Anyone know what I am talking about?

Every coin has some type of premine, unfair launch, dev tax, or something to make the person that created the coin rich. Not many people are going to do something out of the goodness of their heart, they do it for hte money.

Do you think that makes it okay?

No it was wrong,but most of us are not insiders on any coin so we react and chase coins to make profit.

I did a few lookups and many many btc are sitting as pre mined by the creator of btc.

None of us know if they will be cashed in so does that mean btc is like ltc?

Three reasons to mine ltc this winter

1) l3+ is quiet when under clocked so it is a great space heater.
2) l3+ is cheap if you need a space heater.
3) Apollo is quieter then a l3+ Makes for a nice conversational piece in an office.
4) ltc is the second most mined asic based algorithm so it does not face a bust out of great new miners.

If your able to,weigh Voss against me you can see he is right on many points.

And that my reasons are less but still good.

Don’t go buying 100 pieces of l3+ cause most likely that will lose.

I agree with Voss that large scale mining of l3+ is bad.

Dopert

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Quote from: Indamuck on August 29, 2019, 08:18:57 AM

Every coin has some type of premine, unfair launch, dev tax, or something to make the person that created the coin rich. Not many people are going to do something out of the goodness of their heart, they do it for hte money.

What do you think about satoshi? Just fedup with the moneysytem and giving poeple a tool to power or one day he will stand up as a doubtfull world leader or .... what other motivation?

Untill now i think its a great thing, but i can't see how it works out offcourse.

VoskCoin

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YouTube.com/VoskCoin

Quote from: Indamuck on August 29, 2019, 08:18:57 AM

Quote from: adaseb on August 28, 2019, 12:03:28 AM

Quote from: Metroid on August 25, 2019, 10:21:39 PM

Quote from: philipma1957 on August 25, 2019, 12:08:43 PM

Here is the deal LTC developers did some shady shit the first year it was built. I believe the builder could use Gpus to mine for many months while others could only mine with CPU’s.

Kano has gone into detail on this and I did some research it does appear that LTC developers did that years ago.

It was more than that, too many shady things happened, I know most of them, reason I never invested in ltc, ltc has always been a way to scam for bitcoin. That is why it was created, ltc's creator, charlie lee, won't say that but its the truth.

I wasn't around during the LTC main-net launch so this is news to me... never knew that LTC developers did this.

This actually reminds me of a similiar situation with Darkcoin (now called Dash coin) basically people analyzed the blockchain after the launch and they also did some analysis and found out that it was instamined in some way. I don't remember the details but X11 I think for a while might of been CPU only and later on it was GPU mineable. And lots of coins were pretty much premined in the early days and people have been complaining for years about the coin being shady.

Would have to find the post in the Dash thread to find out for sure though. Anyone know what I am talking about?

Every coin has some type of premine, unfair launch, dev tax, or something to make the person that created the coin rich. Not many people are going to do something out of the goodness of their heart, they do it for hte money.

Do you think that makes it okay?

Indamuck

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Quote from: adaseb on August 28, 2019, 12:03:28 AM

Quote from: Metroid on August 25, 2019, 10:21:39 PM

Quote from: philipma1957 on August 25, 2019, 12:08:43 PM

Here is the deal LTC developers did some shady shit the first year it was built. I believe the builder could use Gpus to mine for many months while others could only mine with CPU’s.

Kano has gone into detail on this and I did some research it does appear that LTC developers did that years ago.

It was more than that, too many shady things happened, I know most of them, reason I never invested in ltc, ltc has always been a way to scam for bitcoin. That is why it was created, ltc's creator, charlie lee, won't say that but its the truth.

I wasn't around during the LTC main-net launch so this is news to me... never knew that LTC developers did this.

This actually reminds me of a similiar situation with Darkcoin (now called Dash coin) basically people analyzed the blockchain after the launch and they also did some analysis and found out that it was instamined in some way. I don't remember the details but X11 I think for a while might of been CPU only and later on it was GPU mineable. And lots of coins were pretty much premined in the early days and people have been complaining for years about the coin being shady.

Would have to find the post in the Dash thread to find out for sure though. Anyone know what I am talking about?

Every coin has some type of premine, unfair launch, dev tax, or something to make the person that created the coin rich. Not many people are going to do something out of the goodness of their heart, they do it for hte money.

vapourminer

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what is this "brake pedal" you speak of?

Quote from: adaseb on August 29, 2019, 12:39:19 AM

[...] finally got my ETH out.

Like finding gold pretty much...

yeah its kinda like looking under the sofa cushions for some loose change and finding hundred dollar bills.

adaseb

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Quote from: Metroid on August 28, 2019, 03:56:27 AM

hehe, well to be fair i do have 0.5 ltc, I received that from an exchange 6 years ago, still there, not planning to sell cause that would be just too much effort, login into it, 2fa, take the mobile, create a sell order, too much effort, better leave there and maybe never do anything to it. See, the effort of selling it outweighs the money that scam is worth.

Your post actually reminds me of all the bitcoin dust that I collected throughout the years. I had probably a dozen or so wallets, online wallets, dormant balances on pools, etc where I tended to usually round my transaction figures instead of sending the entire amount.

If you ever used the old versions of Bitcoin Core, there was no option to "Send entire balance" basically if you had like 1.00529832 BTC, I would just send 1 BTC and forget about any of the following decimals due to laziness since I always had to manually subtract the transaction fee and I rather just send 1 BTC instead of 1.00519832 BTC since back in the days of $200 BTC those amounted to very little.

So when BTC was in the 5 figures, I took the time to sync every wallet and finally used up all my collected dust and in the end it actually ended up being a few hundred dollars. Got some LTC and ETH from a pool where it never hit the min withdraw since it was like $5/ETH and just left it there and when it hit $1400 ETH the pool lowered the min withdraw fee and finally got my ETH out.

Like finding gold pretty much...

Metroid

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Quote from: philipma1957 on August 27, 2019, 07:40:21 PM

...

hehe, well to be fair i do have 0.5 ltc, I received that from an exchange 6 years ago, still there, not planning to sell cause that would be just too much effort, login into it, 2fa, take the mobile, create a sell order, too much effort, better leave there and maybe never do anything to it. See, the effort of selling it outweighs the money that scam is worth.

Quote from: zityx23 on August 28, 2019, 02:26:13 AM

What's the point of this post? If you have this kind of logic then why are you here on the crypto space? I think is is fair that people do their own choice and decide for themselves. What comes up must come down and what comes down must come up. That's the basic of it.

This is somebody that was deceived by ltc and its pump and dump nasty evil shady scheme, funny most of those trolls are still buying hardware thinking they will get their money back hehe, yeah right and if I had the same thinking, I would still be fighting the japanese law hoping to get the millions of dollars gox owns me. All wishful thinking.

zityx23

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What's the point of this post? If you have this kind of logic then why are you here on the crypto space? I think is is fair that people do their own choice and decide for themselves. What comes up must come down and what comes down must come up. That's the basic of it.

adaseb

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Quote from: Metroid on August 25, 2019, 10:21:39 PM

Quote from: philipma1957 on August 25, 2019, 12:08:43 PM

Here is the deal LTC developers did some shady shit the first year it was built. I believe the builder could use Gpus to mine for many months while others could only mine with CPU’s.

Kano has gone into detail on this and I did some research it does appear that LTC developers did that years ago.

It was more than that, too many shady things happened, I know most of them, reason I never invested in ltc, ltc has always been a way to scam for bitcoin. That is why it was created, ltc's creator, charlie lee, won't say that but its the truth.

I wasn't around during the LTC main-net launch so this is news to me... never knew that LTC developers did this.

This actually reminds me of a similiar situation with Darkcoin (now called Dash coin) basically people analyzed the blockchain after the launch and they also did some analysis and found out that it was instamined in some way. I don't remember the details but X11 I think for a while might of been CPU only and later on it was GPU mineable. And lots of coins were pretty much premined in the early days and people have been complaining for years about the coin being shady.

Would have to find the post in the Dash thread to find out for sure though. Anyone know what I am talking about?

philipma1957

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'The right to privacy matters'