Topic: GPU farms moving over to Litecoin (Read 10332 times)

FTFY. Otherwise, this is the exact reason why I'd rather shut my GPUs off that mine LTC.

1. I don't think Bitcoin is doomed.
2. Gold is NOT the #1 geek/libertarian currency. It's the #1 survivalist currency. Some libertarians might like it as well, but it's certainly not popular among geeks!
3. While I agree that EVENTUALLY there will be room for more than 1 "bitcoin-like" currency, the 2nd one will have to be really unique and have something special to offer -- like being backed by a city, state, country, or 1st-tier online retailer (Amazon, Wal-mart, etc.)

Just another me-too "hey, Bitcoin is open source so here, I made my own blockchain" currency is never going to be able to gain mindshare. Not yet. There aren't enough of us geeks messing around with crypto-currencies.

I think some Litecoin fans on this thread are not the most objective -- they're probably sitting on a pile of LTC and stand to gain MUCH by being the early adopters in the next Bitcoin.

I, on the other hand, am a disinterested 3rd party, who stands to gain nothing if I'm wrong or right.

Well, if you believe that, then you must believe that Bitcoin is doomed.  Gold is the #1 geek/libertarian/etc currency, followed by silver. Bitcoin is, at best, a distant third. There is $8 trillion worth of gold in the world vs. bitcoin's miniscule $130 million. If Bitcoin can compete, then why can't Litecoin?

Right now, it's true. A couple of miners (like me), couple of speculators, some small traders and some small projects makers. It's small, not too long ago, I had 6% of the whole LTC network in my basement.

But I think the future of crypto-currency is not by trading in the same blockchain, it's by trading between multiple blockchains. Different groups can now issue their custom currency based on what they need. Bitcoin have a general value right now, it's the default crypto-coin. But it's possible that in many years from now, crypto-currencies will be created for a more specialized value of specific domains. For example, I've talked about it in another thread, you could create a FFCoin, that could be used in the next Final Fantasy MMORPG as a currency. The "mining" is done by players playing the game and the game uses FFCoin for all transactions in that virtual world. FFCoin comes with the same security that Bitcoin offer, but is customized for the MMORPG experience. If that happen, you could easily trade Bitcoin and FFCoin, while keeping the two economy separated.

We are far from that now, I completely agree. I see Litecoin as the first step of that FFCoin(or whatever they could be called). Right now, it achieved two important things.
- The mining is completely separated from Bitcoin (no merged mining) but it still have a pretty strong network for an alt-coin.
- It's economy is also largely separated from Bitcoin, their respective prices are mainly independant from each other. It means that if BTC price moves, LTC keep it's value and is largely not affected by BTC price movement.

The real value of crypto-currency is not Bitcoin, it's the concept of it. Bitcoin is simply a bunch of parameters for the crypto-currency concept. We don't use Bitcoin because of the "perfect" parameters, we use Bitcoin because of the concept behind it. Changing the parameters is simply a way of adapting that concept to different needs.

Consider I support Litecoin simply because it uses the basic concept behind it. I don't support PPCoin, Solidcoin or any coin that try to change the crypto-currency concept for no good reasons.

The Bad Wife is the debut solo album by Julie Christmas

FTFY 

Soon as Litecoin gets on an episode of 'The Good Wife' we're good

Ok, I'll grant you that Litecoin is the shiniest tricycle around -- in a world of cars.

How many devs? How many projects? I'm sure BTC has 10X as many, and it is still far from mainstream. I'm a fan and all, but I'm objective enough to admit it has a LONG way to go. Most people still haven't heard of Bitcoin, unless in some vague manner, "Bitcoin? Isn't that how you buy silk or drugs or somethin' like that??"

The fact is that the geek/libertarian/etc world isn't big enough for 2 currencies at this point. All Litecoin (and its lesser brothers) does is increase the total amount of "alt currency" in circulation.

Like a game where all the neighborhood kids start trading/selling seashells -- then a few kids decide to start collecting/trading/selling pine cones. Now the "wealth" of that community is divided up into seashells AND pinecones -- I guess that would take away some of the value from seashells.

My closing point:

Go to Google, and type in "litecoin"
74,200 results

Type in "bitcoin"
About 11,000,000 results (0.25 seconds)

So it's not a factor of 10 -- Bitcoin trounces it much more than that.

Long story short, LTC is only worth messing with if you're a miner, or maybe a developer that wants to be a HUGE fish in a microscopic pond. But who would ever put their money in such a currency, unless you had a ready-to-gamble-it-in-Vegas-anyhow level of risk aversion?

Been helping out as I can manage it in the cluster fuck that is happening after Paypal cut off the usenet providers/indexers. Ebay plus blockchain.info seems to be best bet for getting the coins needed into people hands. Followed by localbitcoins with bitinstant and going through the exchanges total nightmare. From what I have seen last few days not a hope in hell of people going through this BS on a regular basis as many of them have told me never again. They are lying of course as if they need their usenet fix and it is only way they will do it again begrudgingly as they are now, it is not winning btc many friends. Anyways that is all I got to say let the flame/troll fest begin.

Litecoin has been around for over a year.  Has outlasted multiple "alt-coin" blockchains that started in vain before it.  Has outlasted multiple "alt-coin" blockchains since it.  Has surpassed alts like NMC and SLC :facepalm: in market value (not that that means much).

Look, I'm an architect and the most important thing in designing buildings that last is a strong foundation.  The Litecoin community has been methodically strengthening that base over the past year.  Surviving potential 51% attacks, evolving from a purely CPU coin to mainly a GPU coin (still many of us boting w/CPUs).  It's got it's small band of coders, designers & creatives collaborating over on LitecoinTalk and on IRC.  And that group is growing as more folks learn about it. 

The biggest draw I've seen to Litecoin (besides the hoarders & strike it rich types that bog the community down) is the speed of Litecoin.  Faster transactions is, to me, the only difference there needs to be between Bitcoin and Litecoin.  The blockchain is 4x faster by design and pending transactions don't get held up in a bumper to bumper traffic jam.  The speeds might slow, but at least the traffic is still moving.

These speeds will improve online purchasing if a site chooses Litecoin as a currency.  And merchant tools are being developed by the band of brothers on the forums and chats as we speak.  http://forum.litecoin.net/index.php/topic,936.0.html

Anyone can rattle off a dozen Bitcoin sites / 1 Litecoin sites.  Many of us use Bitcoin everyday online.  Bitcoin has built it's foundation and now is designing the beautiful architecture above the ground that amazes more people around the world every day.  Litecoin is building it's foundation and will soon be joining Bitcoin above ground in all it's glory.

"Hallelujah! Holy shit! Where's the Tylenol?"

Don't know why your here if you can so clearly predict the future you should be rich by now...

"Hope springs eternal."

Bitcoin isn't even mainstream yet. Litecoin doesn't stand a chance.

Litecoin is the latest worthless alt-coin Pump & Dump being chased by the miners for a few extra bucks. It will fail just like the other two dozen "alt-coin" blockchains before it.

You show me one of these "projects" in the works for Litecoin, and I'll show you a dozen for Bitcoin. If you show me 2 projects for Litecoin, I'll show you 2 dozen. And so forth.

NO! its now way better to use GPU's:
http://wiki.litecoin.net/index.php/Mining_hardware_comparison

PM me your GPU's and setup I'll tell you how much profit you can make, also your power costs

me too am considering moving to ltc. but i thought ltc was more for cpu?

yup. would only work with coins that have the same hashing algorithm. then if coinotron was a big enough part of the hasing power it could produce a circle of coins always switching place for who's most profitable or worse get stuck on one gaining value and the others failing

I'm not sure how beneficial that would be. At least for a 7xxx series GPU, the overclock and even clock speed settings are completely different.

a time ago there was at coinotron.com the possibility to switch automatic to the coin which is most profitable - is this disabled now?
I don't find it anymore...
TIA

The "Network Performance & Difficulty Chart" shows a steady decrease in miners.  Even hitting below 400 earlier today.

http://www.litecoinpool.org/charts

https://btc-e.com/exchange/ltc_btc

I've been mining BTC with between 800MH - 2GH for about a year now.  When my two Jalepenos arrive, I'll move that GPU hashing power to LTC.

....sure!

I'm such a nice guy that I'll sell ya my LTC for the basement bargain price of .007 BTC per litecoin :-D

(but honestly.. they're only worth 0.005 BTC each now..