Topic: [FACTS] Litecoin is the only legit Altcoin ! (Read 4229 times)

All these altcoin pumps have never beat the bitcoin volume in a single day.  Litecoin is the only coin to do that.

Yes.  If blocks according to the new protocol are all valid according to the old protocol, it is a soft fork.  But if you make bigger blocks, they are not compatible with the old protocol.  So increasing the block size is a hard fork. Because the old protocol doesn't validate big blocks.


The options are more complicated than that.  But a SOFT FORK never splits the bloc chain.  There is no mechanism with a soft fork only, to have two chains.

If a soft fork is applied by 51% of the hash power, the other 49% of miners have no choice but to join, or to get their blocs orphaned all the time, because *their* (old) protocol ACCEPTS the new blocs as valid, so they have to build upon their longest chain.  If they don't, they build a shorter chain (less hash power) and they always get orphaned.

So with a soft fork: no danger for a chain split, and majority of miners IMPOSES its will on everybody.

With a hard fork, that is not true any more.  Because the new blocs are not compatible with the old protocol, the old protocol can continue working, even with a minority of hash rate, because the new guys (even majority) seem to make invalid blocs, on which old miners will not build.  So you have the old minority chain surviving, and the new majority chain making a different chain.

If the hard fork is bilateral, that means: old blocs are not valid for the new protocol, and vice versa, the split can occur at any ratio between hash rates of miners: the new chain can fork of with minority or majority hash rate ; the old chain can continue to exist.

What will happen, if there are two chains (hard fork only) is that USERS will vote in the market with their money, determine the market caps of both chains, and miners will adapt to highest profitability, which means, they will in the end, split according to market cap (if not, it has an advantage to change camps).

the first i think you will choose bitcoin, right? actually i don't know the list of the cryptocurrency, the only thing that i know is from coinmarket and i know the list is change from time to time so i think i only trade based on that list. but after all thing is happen in crypto currency especially in the market, maybe the rise of litecoin is near to us because litecoin is too long to sleep and i think its time for litecoin to wake up.

Litecoin is still #2 for me.

Ethereum has 1000 apps and yet I can't find one that is actually being used or that I find useful.

What is needed right now is stability and possibly Segwit and one day people will return to Litecoin because it's not up it's own bum.

Hard and soft forks have to do with forward/backward compatibility. Regardless of the mechanism of the fork, it does not necessarily follow that there will be 2 blockchains in the future, if that is what you mean. As long as consensus is reached, there could be one bitcoin blockchain with an inflationary supply beyond 21 million. Right now it does not seem conceivable because deflation is generally seen as positive in the bitcoin community. But that does not mean that it will be the case in the future. So to see bitcoin having a permanent limit is not immutable.

That stability can be appreciated too.

Nah, that would be a hard fork.



That it is no different from the fiat banking layer, just more hassle.  Why on earth would you use a crypto bank instead of a normal bank ?

segwit?

Anyway, im wondering if it being the only major alt not to pump actually gives it more credit, its stable @ $4.

Litecoin it is but the problem with it is no improvement

Liitecoin is a shitcoin.

Every coin could pump to $1k each and LTC would still not move

Litecoin extremely overvalued. Wont buy until it is worth $0,05 each (and then dump when it pumps to $0,06 which will be LTC top for the remainder of its pathetic life, lol!)

Going to short LTC 100x

51% of miners can soft fork and increase the hard limit on # of bitcoins.

What is the problem with a banking layer on top of a crypto?

Pruning may not be necessary. Different nodes could hold different portions of the blockchain.

They can't.  That's the whole idea of immutability consensus.


That's a banking layer on top of a crypto.  There will be big "lightening hubs" where normal citizens have their account.  Bitcoin or whatever lower layer will be the "central bank settlements" between banks in that case. 


The problem with pruning is that you have to know which transactions are spent.  And if you know that, then you cannot hide it, and hence, confidentiality is gone, and with it, fungibility.  At least, in a block chain setting. 

Indeed, gambling in a greater-fool game, or "hiding from the evil law and state" are the only two applications of crypto. 

If you want to legally, taxed, officially buy stuff, fiat is unbeatable.

Well, you just answered your own question.  I'm here, because crypto currencies are potentially a way to "hide from the man" (I'm not going to "battle" the man, that is a hopeless affair ; but the man being evil, I try to find ways for people who want to, to hide from it ; if enough people do so, the man becomes powerless ; but even if a lot of sheep let themselves screw by the man, those that want to hide from it should be able to).

I already told you that it is the *only* utility of crypto.  If you don't want to hide from the man, the man has much better currency: fiat.  Use it.  There's no need to get into the hassle of crypto, fiat is much better.  The principal problem with fiat is that it becomes very difficult to hide it from the man, and that's where there is a potential for crypto.  The only potential, apart from a greater-fool game.  I'm not sure that the potential will play out, but if it doesn't, crypto is a totally useless affair.

The other reason why crypto is interesting *as a study object*, is that it involves hierarchy-less dynamics, which is of course what you get in society if ever it can get rid of "the man".  A question is: will in that case, a "new man" rise up ?  (centralization). 

LTC's price being stable is a good thing i think.
I am no expert on how a currency *should work though.

And to the other guy..
I am not a frustrated bag-holder.
I am a frustrated crypto-supporter / enthusiast / pundit.
I don't like seeing Litecoin fail to get it's deserved respect by brats saying it's boring.
Would you invest in Corn on the markets then cry that corn is "boring" ?
The notion is silly !
But that is EXACTLY what i have heard since the day i got into crypto in mid 2013.. LOTS !

And to be clear with you all..
About 4 months ago maybe now i went and looked on Bittrex and seen i had about $23 worth of BTC sitting there.
I thought it was an empty account because i sold off what ever was on there and gave it to an XDA dev as a BTC donation (same amount roughly)
I was not trading for roughly 2 years so..
But when i came back i seen more BTC in there and figured whelp.. i'll buy like 5 or 6 LTC coins.
No reason.. just because.
I do think it's ripe for taking off vs most other coins (based on price etc)

So my point here is i have maybe $24 worth roughly and i'd just as soon give them away.
I am not a "bag holder" really..

And i got the BTC in my account because in 2013 i went to some faucets / gambling sites..
I posted around the scene few times my REF Links..
http://freebitco.in/?r=6035
http://freedoge.co.in/?r=1876
Those two sites are old and trusted and seem to pay out well.
I stopped visiting for roughly 2 years and i guess all along they just kept sending me BTC etc.
Both are from the same person.
I am not trying to advertise my links but tell you all i *thought* i had no coins *listed* these days.
I already spent all my money but i noticed i am STILL getting paid 
So if it wasn't for those 2 ref links above i'd have no coins listed on any exchange these days.
And i *could play for free every hour too but i don't.. i just don't care anymore.

I was wondering why no one is looking at the first script coin when all the price of alt coins are breaking records and reaching newer grounds litecoin is the only coin which has not made any significant changes in a very long time and i am not sure what the real reason is but it looks like people are looking beyond litecoin as of now as the price is always constant .

Create a new currency with fake promises and bullshit to steal money from people that trust you is scam, you cannot compare trading to this. I not scam anyone buy low and selling at higher price, the whole market works in this way and everyone decide to buy isn't because I have tried to convince or deceive him.

FUN? Having more efficient and powerful design that extend the capabilities of a crypto is not for fun. Use a crypto that doesn't give any significative vantage is pointless.

Again you have written a lot of text lines but You haven't answered to my simple question. Shouldn't that difficult "Litecoin is the only legit because [insert your reason].
Not an anoncoin isn't a reason valid enough because only reduce the set of altcoins alternatives to transparent cryptocurrencies but isn't an exclusive characteristic of the only Litecoin.
Do you know all this make you looks like a frustrated Litecoin bagholder? If not, please articulate a decent answer.

That is like saying participating in PONZI schemes / Pyramid scheme can be fun.
True but there are victims and consequences.

Idealism has to be thrown out the window if you say that.
You can't write a coin cloning guide like Shakezulu did on Devtome saying it's "for fun & profit"
Then *try and parade around here like you have integrity.

Currencies are not suppose to be "FUN" that is retarded.
They are suppose to be a currency and how much fun is your FIAT ?

No.1 complaint of all time about Litecoin ? Is that it's boring.
More mensa caliber genius from brats children kids babies goo goo gaa suck hole profiteer kidiots.

Some of you have no problem victimizing children for lunch money here.
Oh look flashy Meme coin.. buy kids ask your Mom for money !!!11
..for fun & profit

You then say use due diligence.
Yeah.. in a crooked rigged unfair scammy lawless corrupt scene where it's not possible to get treated fairly.
It couldn't be more simple.
Most of you in the scene support bad shit for dollars $$$.
You make pathetic stupid excuses to cover it up and smooth it over.

Fun ?
Sorry profiteers but "fun" is not he topic here.
We are talking about currencies and which ones may or may not be legit.
Joke coins for "fun" are not applicable to the criteria of legitness !
Next...

I'm here to looking for new coins that can have some real use to profit from them buying and reselling at higher price, not "to break law", only I'm not so dumb to not see that at this time the main use of cryptocurrencies is exactly to go out of control of the law and whatever authority and not to buy from Amazon or from restaurant with credit cards that are comfortable enough.
You have said you don't like anonymous coins, ok, but I have asked you WHY you think that Litecoin meets the criteria of real use more than others altcoins. There are a whole lot of others coins that aren't for anonymous use, with more features and technical vantages than Litecoin that is only a slightly improved version of Bitcoin with the difference that Bitcoin as first crypto on the market is a standard while Litecoin is one of the hundreds "hope coins". What is your motivation?

What's new...  It doesn't mean you couldn't have fun trading the other altcoins tho.  Trading is a fun endeavor by itself.  It's a different, kind of a fun calculated form of gambling that you can't get by betting on sports or playing poker. 

If ever something big goes wrong with Bitcoin you know what the safe haven coin is.