[Alternate cryptocurrencies]Litecoin - page 2.

robocop

sr. member

Activity: 252

Merit: 250

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

There is something true.

And i read about the Solidcoin on the solidcoin-webpage and i mean it is the "dirty bitch" of bitcoin and the concept don´t make any sense.
I believe that the Solidcoin is the answer of the people who want to see the bitcoin dead because they are afraid to there influence and authority.

The real one is only the bitcoin self ;-)

DeathAndTaxes

donator

Activity: 1218

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Gerald Davis

Quote from: CAMOPEJB on October 30, 2011, 11:29:54 AM

About botnet: botnet issue is solved pretty easy - identify botnet and block IPs. Forever.

Good thing you solved the botnet problem. You are aware that some of the largest botnets have 250,000 computers each with dynamically changing IP addresses. Plus each node is constantly looking for new nodes to infect. Some nodes go "dark" (botnet lost control, computer taken offline) everyday and new nodes are added.

They aren't a single entity which is easily blocked. If they were we would have no global issues from botnets (DDOS, spam, password hashing, etc). The law enforcement division from half civilized countries in the world have cyber crime divisions and they haven't been able to make a dent in the problem.

If litecoin was every commercially viable it would be instantly destroyed at will or double, triple, qudruple spent into oblivion by a botnet operator. Being GPU hostile it will never have the hashing power to withstand an attack from 10K, 50K, 250K+ computers hashing the block chain for malicious purposes.

odysseus654

newbie

Activity: 44

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Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

Just a quick observation, Bitcoin is an experimental alternative "currency". The "experimental" part of it means that people can tinker around with it or (since the whole point of BitCoin is that all the rules are baked in at the start, of course with exceptions) branch off different alt chains to see if there could be an incremental improvements that can be made. The fact that the alternatives appear to be inferior to BitCoin (so far) speaks incredibly highly to how well the original design was thought out.

I recognize that as soon as Real Money is involved that "experimental" tag tries to get removed rather quickly (after which people start getting jealous of any alternatives, remember that fiat currencies behave the same manner) but as long as things don't get out of hand I welcome experimentation on incremental improvements to what was a surprisingly strong design.

CAMOPEJB

full member

Activity: 132

Merit: 100

Quote from: Raoul Duke on October 30, 2011, 06:03:04 PM

I'm saying that dudes like you only want BTC in exchange for the scamcoin they mine, and eventually the scamcoin you are mining will die, and the persons to whom you sold those scamcoin will be out of their BTC.

But by all means, keep at it. Mine scamcoins and dump them, I'm not the one who's going to lose my Bitcoin anyway.

Take a look at this link: https://btc-e.com/exchange/ltc_usd

BTC is safe with me Wink

Raoul Duke

legendary

Activity: 1358

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Quote from: bulanula on October 30, 2011, 06:06:59 PM

Quote from: Raoul Duke on October 30, 2011, 06:03:04 PM

Quote from: CAMOPEJB on October 30, 2011, 05:44:47 PM

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Can you explain me what you saying?
Are you telling me that I should mine BTC with my NVIDIA GPU, dump $$$ in new rig or something else?

I'm saying that dudes like you only want BTC in exchange for the scamcoin they mine, and eventually the scamcoin you are mining will die, and the persons to whom you sold those scamcoin will be out of their BTC.

But by all means, keep at it. Mine scamcoins and dump them, I'm not the one who's going to lose my Bitcoin anyway.

How dare you call our solid coins a scam Huh

The dear glorious leader will have you arrested as a political prisoner !

Some lose and some win. Alt chains are nice and fresh at the start but they all eventually die. NMC is on its way to nothing. Prices are 0.014 due to MM. I wonder if there will be something to take Bitcoin's silver place.

I was talking about litecoin, but yeah, you can say the same about solidcoin. and about tenebrix, and about fairbrix, and about geistgeld and about any other *coin.
Altho I believe you are not right about Namecoin as it really is different. Having low value doesn't mean much as there isn't really a demand for the service that it will be useful to, but hopefully that will change in the future. Just wait for ACTA to be approved on Europe and they atrt making arrests and closing warez sites and shit like that. Or they move to Tor, which is slow as hell, or they'll need namecoin.

bulanula

hero member

Activity: 518

Merit: 500

Quote from: Raoul Duke on October 30, 2011, 06:03:04 PM

Quote from: CAMOPEJB on October 30, 2011, 05:44:47 PM

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Can you explain me what you saying?
Are you telling me that I should mine BTC with my NVIDIA GPU, dump $$$ in new rig or something else?

I'm saying that dudes like you only want BTC in exchange for the scamcoin they mine, and eventually the scamcoin you are mining will die, and the persons to whom you sold those scamcoin will be out of their BTC.

But by all means, keep at it. Mine scamcoins and dump them, I'm not the one who's going to lose my Bitcoin anyway.

How dare you call our solid coins a scam Huh

The dear glorious leader will have you arrested as a political prisoner !

Some lose and some win. Alt chains are nice and fresh at the start but they all eventually die. NMC is on its way to nothing. Prices are 0.014 due to MM. I wonder if there will be something to take Bitcoin's silver place.

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: CAMOPEJB on October 30, 2011, 05:44:47 PM

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Can you explain me what you saying?
Are you telling me that I should mine BTC with my NVIDIA GPU, dump $$$ in new rig or something else?

I'm saying that dudes like you only want BTC in exchange for the scamcoin they mine, and eventually the scamcoin you are mining will die, and the persons to whom you sold those scamcoin will be out of their BTC.

But by all means, keep at it. Mine scamcoins and dump them, I'm not the one who's going to lose my Bitcoin anyway.

CAMOPEJB

full member

Activity: 132

Merit: 100

Quote from: Gabi on October 30, 2011, 12:32:23 PM

Quote from: CAMOPEJB on October 30, 2011, 11:29:54 AM

Lite means ANYONE can mine Litecoins - you don't need powerful GPU, don't need AMD GPU
You can use any CPU you have and mine coins efficiently!

Lite means system will have less hashpower than Bitcoin (because of CPU mining) - not an issue
Lite means faster confirmations of transactions what is really important for any market or shop
Lite means nobody premined coins for himself so we have fairly distributed coins

About supercomputer hostility: just give Litecoin time to grow. Neither Bitcoin was supercomputer hostile at the beginning.

About botnet: botnet issue is solved pretty easy - identify botnet and block IPs. Forever.

Why people keep spamming idiocies about ip? Wake up, do you know dynamic ip?

Now you are going to reply with ip idiocy 2: ban ip range.

Yeah, let's ban a whole nation.

As for "anyone mining", it's bullshit. Try mining with a Atom or with a i7 2600 quadcore... you still need high end hardware.

Ummm... I have dynamic IP from my ISP but IP DIDN'T CHANGED FOR 3 MONTHS!
Also, I'm mining with my AMD Athlon 64 3000+ @ 2 khash/sec in a pool and I'm satisfied with results.
I don't want to earn millions and I will not sell LTC now - I'm patient ;-)

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Can you explain me what you saying?
Are you telling me that I should mine BTC with my NVIDIA GPU, dump $$$ in new rig or something else?

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: Gabi on October 30, 2011, 03:12:58 PM

Quote from: ?? on ??

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

Namecoin was the first fork and still hasn't died.

I suggest you take your own advice and think outside the box (rather than with your wallet.dat) before dismissing all alt. currencies as scams.

But namecoin is not a bitcoin clone.

It can be used as a dns alternative.

No point on reasoning with scammers... They all will try to push their agendas and scam you out of your Bitcoin with their scamcoins.

@JohnDoe I don't see Namecoin an as alternative cryptocurrency, but as another type of thing. Sure, it can be traded, but it uses the Bitcoin protocol for a something that has nothing to do with currency, so your point is invalid.

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Quote from: ?? on ??

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

Namecoin was the first fork and still hasn't died.

I suggest you take your own advice and think outside the box (rather than with your wallet.dat) before dismissing all alt. currencies as scams.

But namecoin is not a bitcoin clone.

It can be used as a dns alternative.

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: Raoul Duke on October 30, 2011, 02:07:03 PM

So what was my quote doing in your post and why were you talking about solidcoin when this thread is about another scamcoin, in this case, litecoin?

Because Solidcoins' centralization beats Litecoin or any other cryptocurrency hands down, in my opinion. The input we as a community get on changes such as subsidy is also amazing. Free advertisement!

Quote from: Raoul Duke on October 30, 2011, 02:07:03 PM

But you just said above you loved it... Confused much?

I care very much about Solidcoin and my passion for it; it is merely your opinion which I couldn't care less about.

Quote from: Raoul Duke on October 30, 2011, 02:07:03 PM

Yup, scammers tend to believe in scams very much!

Rocket scientist alert!

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: terrytibbs on October 30, 2011, 02:02:33 PM

Quote from: Raoul Duke on October 30, 2011, 01:57:22 PM

uh??

"Go" as in "Yaay, I love". "Solidcoin", as in... uh.. Solidcoin!

Yaay, I love Solidcoin!

So what was my quote doing in your post and why were you talking about solidcoin when this thread is about another scamcoin, in this case, litecoin?

Quote from: terrytibbs on October 30, 2011, 02:02:33 PM

Quote from: Raoul Duke on October 30, 2011, 01:57:22 PM

I don't give a fuck about solidcoin.

I never implied you did, nor do I give a shit.

But you just said above you loved it... Confused much?

Quote from: terrytibbs on October 30, 2011, 02:02:33 PM

Quote from: Raoul Duke on October 30, 2011, 01:57:22 PM

And the guy with the scammer tag, the one hosting litecoin sites is you, so, just STFU.

Are you trying to compare bearing this beautiful tag to hosting a website, condemn me from offering a free service to a project which I believe in, condemn me in some other way, or just be the usual dumbass that you usually are?

Yup, scammers tend to believe in scams very much!

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: Raoul Duke on October 30, 2011, 01:57:22 PM

uh??

"Go" as in "Yaay, I love". "Solidcoin", as in... uh.. Solidcoin!

Yaay, I love Solidcoin!

Quote from: Raoul Duke on October 30, 2011, 01:57:22 PM

I don't give a fuck about solidcoin.

I never implied you did, nor do I give a shit.

Quote from: Raoul Duke on October 30, 2011, 01:57:22 PM

And the guy with the scammer tag, the one hosting litecoin sites is you, so, just STFU.

Are you trying to compare bearing this beautiful tag to hosting a website, condemn me from offering a free service to a project which I believe in, condemn me in some other way, or just be the usual dumbass that you usually are?

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Quote from: terrytibbs on October 30, 2011, 01:44:09 PM

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

Go Solidcoin!

uh??

I don't give a fuck about solidcoin.
And the guy with the scammer tag, the one hosting litecoin sites is you, so, just STFU.

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: Raoul Duke on October 30, 2011, 01:27:57 PM

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

Go Solidcoin!

Raoul Duke

legendary

Activity: 1358

Merit: 1002

Litecoin is, like any other alternate cryptocurrency, just a scheme to steal the BTC from clueless newbies.

Just ignore it and eventully it will die out, like others before it died already.

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Testing it, mining litecoin with a Q9550 at stock frequency (2.83ghz): 11.2khash/s

Something is wrong with your i7 920...

Gabi

legendary

Activity: 1148

Merit: 1008

If you want to walk on water, get out of the boat

Luckily not. I have an even older cpu, a Q9550 and even if the i7 920 and the i7 2600 are of course better, mine is still a good cpu.

johnj

full member

Activity: 154

Merit: 100

Quote from: Gabi on October 30, 2011, 12:41:55 PM

An i7 920 is a high end cpu, a very good one.

ahh okay, i bought it ~2yrs ago for ~$200, I would have thought it's on the way to being outdated.

terrytibbs

hero member

Activity: 560

Merit: 501

Quote from: Gabi on October 30, 2011, 12:41:55 PM

An i7 920 is a high end cpu, a very good one.

920 is mid range at most. 980-990x would be a high end.

Topic: [Alternate cryptocurrencies]Litecoin - page 2. (Read 4190 times)