What? Litecoin doesn't have an inflation O_o.
sure it does.
blockreward 50
block in 24h: around 550
new coins a day: 27500 (=cost of running the network. Currently 98k$ every day)
27500 * 365 = 10.037.500 new litecoins a year
Current coins in circulation: 33,5 million
10 million is roughly 30% of 30 million
so litecoins value is diluted by that number a year until at halving that comes down to 15% inflation next year which is crazy.
Bitcoin inflates with 10% right now wich is also crazy and the reason it doesn't take off.
I personally am a strong believer in fair, low inflation altcoins which litecoin is not one of (ltc is fair start but high inflation which makes it in turn quite unfair for investors. With litecoin the miners make the gains right now. And maybe not even those since they dump their own source of income down constantly, they have to, that's how it is constructed)
High inflation is full blown nonsense in crypto and has a scammy nature to it, too. But at least it is fully transparent
Ahh ok, a bit of context helped. I do agree that in slice of time it is inflationary. But as a whole Litecoin and Bitcoin are not due to the hard coin caps of 84 mil and 21 mil respectively.
Litecoin was the original scam - there were GPU miners for it before it came out, and it called itself a CPU coin to draw in old BTC CPU miners, while the small number of GPUs raped it. Same shit, different toilet.
I'm amazed that you personally would say this considering I thought you are a Litecoin supporter. There were rumors of GPU miners but no one provided any evidence. I think this came out as a way to discredit Litecoin and I find it really hard to believe (unless you have evidence).
Litecoin was the original scam - there were GPU miners for it before it came out, and it called itself a CPU coin to draw in old BTC CPU miners, while the small number of GPUs raped it. Same shit, different toilet.
Yep ! This is why the founder of Litecoin dumped it when it was 50$. He even said that it was to overpriced.
Well no, you kind of twisted his words. He dumped the majority of his holdings at $2 because he wouldnt have imagine it becoming as successful as it has.
Just when I was thinking to myself "man, I havent seen anyone trolling Litecoin recently because first monero and now Blocknet". rofl
I actually did like LTC, but then their outright refusal to change PoW made it basically have no purpose... but that's neither here nor there.
It's completely believable that LTC has GPU miners before it came out - Scrypt(1024, 1, 1) was used as a PoW for Tenebrix originally, then Fairbrix, before finally Litecoin. You think nobody decided to make a GPU miner for it?
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you should have had enough bitcoins now to stop writing bullshit like that..
