Litecoin Creator (Charlie Lee) Recommends Merged Mining with Dogecoin

Spoetnik

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Quote from: zerodrama on April 08, 2014, 08:39:26 AM

Quote from: kelsey on April 08, 2014, 06:52:55 AM

dunno the chinese exchanges took ltc further then gox would have.

dogecoin's the flavor of the month type, stuff like that only last til the next fad comes along.

the initial spike came from gox many moons ago.

dogecoin users sold cars and houses for doge.

why?

because no retarded stare contest at the exchanges.

dogecoin means no stress.

no stress means more commerce.

deal with it.

that is one of the most sorry pathetic excuses i have ever heard.. THAT is why Doge Coin is better than LTC or a good coin etc ?
it's a coin on exchanges so it suffers for many of the stress any other coin on an exchange faces.. that is how they ALL work.
Your fanboyism is showing.. you may wanna zip that up son Wink

in close to a year i have watched or talked with Kelsey and he/she is pretty smart at this stuff.
when kelsey speaks i always listen and i have never been let down. We do share a lot of the same views though so i guess am biased
and we can have different opinions that is fine and normal but i have to challenge people if their reasoning seems like nonsense to me.
Like hey, yeah you like and support Doge fine but i'm just saying hey, your reasoning why seems nuts to me lol

A free market is for ALL people even those that choose NOT to support a coin.. it's our right !
And if i exercise my right then i don't want people trying to slander and discredit me because of my views on a crypto coin.. it's not relevant.

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Quote from: El Dude on April 09, 2014, 06:33:44 PM

Quote from: BitLudmann on April 09, 2014, 04:45:15 PM

This would definitely kill Dogecoin!
Charlie Lee made an offer only because he sees Doge as a strong competitor, Doge is very able to take the second place instead of Lite.

Litecoin is still going to die due to asics, who need the second asic-Bitcoin if the first one still exists?
Sooner or later this will happen even in spite of a large cap.

Charlie Lee plans to bind Doge to scrypt, in this case Doge wont be able to overtake him. So if Doge won't change the algo, they stay behind Lite forever!

Save DOGE!
Don't let it merge with half dead coin!

your a retard if you think a coin with no hard cap and billions of coin will ever replace Litecoin.

dogecoin is broken code and everyone knows that.

coblee doesn't think so ? He is selling litecoin again to r/dogecoin http://en-us.reddit.com/r/dogecoin/comments/22niq9/merged_mining_amafaq/

Arrogance is not going to help his recruiting efforts, might want to tone that down.

El Dude

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Quote from: BitLudmann on April 09, 2014, 04:45:15 PM

This would definitely kill Dogecoin!
Charlie Lee made an offer only because he sees Doge as a strong competitor, Doge is very able to take the second place instead of Lite.

Litecoin is still going to die due to asics, who need the second asic-Bitcoin if the first one still exists?
Sooner or later this will happen even in spite of a large cap.

Charlie Lee plans to bind Doge to scrypt, in this case Doge wont be able to overtake him. So if Doge won't change the algo, they stay behind Lite forever!

Save DOGE!
Don't let it merge with half dead coin!

your a retard if you think a coin with no hard cap and billions of coin will ever replace Litecoin.

dogecoin is broken code and everyone knows that.

BitLudmann

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This would definitely kill Dogecoin!
Charlie Lee made an offer only because he sees Doge as a strong competitor, Doge is very able to take the second place instead of Lite.

Litecoin is still going to die due to asics, who need the second asic-Bitcoin if the first one still exists?
Sooner or later this will happen even in spite of a large cap.

Charlie Lee plans to bind Doge to scrypt, in this case Doge wont be able to overtake him. So if Doge won't change the algo, they stay behind Lite forever!

Save DOGE!
Don't let it merge with half dead coin!

zerodrama

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Quote from: praxiscat on April 08, 2014, 12:17:17 PM

Merged mining is not a bad thing. I don't know why there is a panic over it, it makes complete sense and there are already mining pools that do it with dogecoin. They just fly under the radar.

Merge mining decides who is boss of the market by definition.

No self-respecting coin allows someone else to make them second place.

praxiscat

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Merged mining is not a bad thing. I don't know why there is a panic over it, it makes complete sense and there are already mining pools that do it with dogecoin. They just fly under the radar.

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As far as I can tell anyone can buy ASICS. Same way as anyone can buy a shitload of GPUs. The rich get richer and the poor stay that way. Capitalism at its finest.

The point has come were in order to stay in the game you need to spend money, like any business. All I see here are a bunch of GPU owners crying about having to spend money, trying to convince to world to stop progressing so they can continue to milk their cash cow. Well guess what, thats not going to happen, ASICS will rule scrypt and we with GPU farms will mine other coins for now.

Rampion

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Quote from: kelsey on April 08, 2014, 06:55:54 AM

Quote from: Rampion on April 08, 2014, 06:20:36 AM

You all seem to forget the ONLY reason for the existence of Litecoin (and all the other Scrypt coins, BTW) is that it uses a different hashing algo that was supposed to be ASIC resistant.

incorrect initially it was designed for gpu resistance. also other (be it slight) improvements over btc.

CPU or GPU is pretty much the same, as they are both "commodity hardware" which has multiple uses besides cryptocurrency mining. The theoretical problem that pose ASICs is that we will probably reach a point in which very few players (chip manufacturers) will monopolize the mining scene, which would mean that Bitcoin is centralized de facto.

Please let me know what other improvements over BTC you are talking about.

zerodrama

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Quote from: kelsey on April 08, 2014, 06:52:55 AM

dunno the chinese exchanges took ltc further then gox would have.

dogecoin's the flavor of the month type, stuff like that only last til the next fad comes along.

the initial spike came from gox many moons ago.

dogecoin users sold cars and houses for doge.

why?

because no retarded stare contest at the exchanges.

dogecoin means no stress.

no stress means more commerce.

deal with it.

kelsey

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Quote from: Rampion on April 08, 2014, 06:20:36 AM

You all seem to forget the ONLY reason for the existence of Litecoin (and all the other Scrypt coins, BTW) is that it uses a different hashing algo that was supposed to be ASIC resistant.

incorrect initially it was designed for gpu resistance. also other (be it slight) improvements over btc.

kelsey

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Quote from: zerodrama on April 08, 2014, 05:46:29 AM

Litecoin's value is purely hype from the LTC on Gox hype.

May they both share the same fate.

Dogecoin took the jihad mentality out of cryptocoins.

I have my own reasons for going with other coins, but that one thing is the reason why dogecoin has value.

dunno the chinese exchanges took ltc further then gox would have.

dogecoin's the flavor of the month type, stuff like that only last til the next fad comes along.

Rampion

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You all seem to forget the ONLY reason for the existence of Litecoin (and all the other Scrypt coins, BTW) is that it uses a different hashing algo that was supposed to be ASIC resistant.

Now Scrypt ASICs are coming and Scrypt coin developers do not give a shit, they do not even think about forking their creations to change the hashing algo, they just want to keep milking their very own cash-cow.

Serious questions: what is the value proposal of Litecoin now that it will have ASICs? What is the innovation? Why Litecoin should be considered a valid alternative/complement to BTC?

Disclaimer: I own a substantial amount of LTC.

zerodrama

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Litecoin's value is purely hype from the LTC on Gox hype.

May they both share the same fate.

Dogecoin took the jihad mentality out of cryptocoins.

I have my own reasons for going with other coins, but that one thing is the reason why dogecoin has value.

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Quote from: peterlustig on April 08, 2014, 02:05:39 AM

Quote from: kelsey on April 08, 2014, 01:45:34 AM

Quote from: BayAreaCoins on April 08, 2014, 01:23:31 AM

please stay on reddit. Thanks

+1

The arrogance of some Litecoin advocates is probably one of the reasons for the Dogecoin dev and community declining the offer, they are too nice to directly say that though.

The post was very relevant btw, it being posted on reddit doesn't mean it's unworthy for your mind. I think you wanted to know the result aswell, right?

Check this counter offer btw: http://www.reddit.com/r/dogecoin/comments/22hsnc/my_counteroffer_to_charlie_lee_well_patch/ (omg evil reddit link)

Quote

*snip*
In a merged mining scenario, there's two (or more) players: the PARENT blockchain, and the AUXILIARY blockchain(s)
coblee's suggestion is that Dogecoin becomes the Auxiliary blockchain, and Litecoin retains the Parent status.
*snip*
My suggestion is simple (EDIT: see below for why it totally isn't.): Dogecoin becomes the Parent, LTC becomes the auxiliary.
*snip

Arrogant angry bagholder view that tries to smear Lee. Good job, only proving DOGE a scamcoin full of bastards who want a quick buck. I got it, but you were too greedy.

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/dev/null

Quote from: peterlustig on April 08, 2014, 02:05:39 AM

The arrogance of some Litecoin advocates is probably one of the reasons for the Dogecoin dev and community declining the offer, they are too nice to directly say that though.

this.

kelsey

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Quote from: peterlustig on April 08, 2014, 02:05:39 AM

Quote from: kelsey on April 08, 2014, 01:45:34 AM

Quote from: BayAreaCoins on April 08, 2014, 01:23:31 AM

please stay on reddit. Thanks

+1

The arrogance of some Litecoin advocates is probably one of the reasons for the Dogecoin dev and community declining the offer, they are too nice to directly say that though.

The post was very relevant btw, it being posted on reddit doesn't mean it's unworthy for your mind. I think you wanted to know the result aswell, right?

Check this counter offer btw: http://www.reddit.com/r/dogecoin/comments/22hsnc/my_counteroffer_to_charlie_lee_well_patch/ (omg evil reddit link)

Quote

*snip*
In a merged mining scenario, there's two (or more) players: the PARENT blockchain, and the AUXILIARY blockchain(s)
coblee's suggestion is that Dogecoin becomes the Auxiliary blockchain, and Litecoin retains the Parent status.
*snip*
My suggestion is simple (EDIT: see below for why it totally isn't.): Dogecoin becomes the Parent, LTC becomes the auxiliary.
*snip

results? I'm embarrassed that Charlie Lee would even concider dogecoin was anything but a joke and a bad one at that.

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Quote from: kelsey on April 08, 2014, 01:45:34 AM

Quote from: BayAreaCoins on April 08, 2014, 01:23:31 AM

please stay on reddit. Thanks

+1

The arrogance of some Litecoin advocates is probably one of the reasons for the Dogecoin dev and community declining the offer, they are too nice to directly say that though.

The post was very relevant btw, it being posted on reddit doesn't mean it's unworthy for your mind. I think you wanted to know the result aswell, right?

Check this counter offer btw: http://www.reddit.com/r/dogecoin/comments/22hsnc/my_counteroffer_to_charlie_lee_well_patch/ (omg evil reddit link)

Quote

*snip*
In a merged mining scenario, there's two (or more) players: the PARENT blockchain, and the AUXILIARY blockchain(s)
coblee's suggestion is that Dogecoin becomes the Auxiliary blockchain, and Litecoin retains the Parent status.
*snip*
My suggestion is simple (EDIT: see below for why it totally isn't.): Dogecoin becomes the Parent, LTC becomes the auxiliary.
*snip

kelsey

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Quote from: BayAreaCoins on April 08, 2014, 01:23:31 AM

please stay on reddit. Thanks

+1

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Quote from: Pangia on April 08, 2014, 12:53:08 AM

http://www.reddit.com/r/dogecoin/comments/22hqm6/official_an_update_on_the_foundation_core/

There has been a lot of speculation around a recent comment from Charlie Lee (creator of Litecoin) regarding a discussion we’ve had / are having about merged mining. We just met recently at CoinSummit, and it was great to talk about altcoins with the person who was first to adopt scrypt as a proof-of-work algorithm (which most altcoins are using currently).

Charlie pitched the idea of merged mining to me as a way of securing both the Litecoin and Dogecoin networks, which minimal coding work required. It’s a really interesting concept that has both it’s pros and cons, and I’ve really appreciated the level-headed discussion that’s been going on both here on Reddit and over on the various Dogecoin-related IRC channels.

If you’re not familiar with merged mining, I’ll let you do a quick Reddit search and do the reading yourself - but here are my thoughts on merged mining between Dogecoin, Litecoin or any altcoin for that matter:

Dogecoin is in a really interesting position, where we’ll reach block 600k and static rewards of 10,000 DOGE by the end of 2014. Up until then, saying that Dogecoin *needs *to do anything is really just speculation, and we have no real way of knowing how the network and it’s miners will react once block rewards drop.
Right now, merged mining with Litecoin wouldn’t really benefit Dogecoin. It’d just force all the dedicated, passionate Dogecoin mining pools out there to shift over to also mining Litecoin to reap their deserved rewards, which they may not want to do. On top of that, it’s fair to assume that Litecoin miners who come in will likely auto-dump the Dogecoin they’re rewarded, which isn’t necessarily great for the stability of Dogecoin as a currency and no better than what multi-pools are doing today.
Dogecoin has amazing growth at the moment, the strongest community in cryptocurrency behind it, and it’s viability shouldn’t be pegged to another currency or network while it’s only 4-5 months old.

In a nutshell, I don’t believe that merged mining is the answer right now. Maybe it will be once we see what happens past block 600k, but as I said that’s impossible to predict.

I’d actually propose this: Let’s work with other, smaller scrypt-based altcoins such as DigiByte to help them merged mine off Dogecoin as the parent blockchain. This helps secure all of our networks into the future (altcoins with lower hashrates are subject to frequent attacks), and I personally love seeing us crypto under-doges working together (DigiByte devs helping with us implementing DigiShield is a fantastic example of this). Just like Dogecoin, there’s no telling what the future of Litecoin holds either - so maybe they’ll want to merge mine off Dogecoin as the parent chain some day

please stay on reddit. Thanks

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http://www.reddit.com/r/dogecoin/comments/22hqm6/official_an_update_on_the_foundation_core/

There has been a lot of speculation around a recent comment from Charlie Lee (creator of Litecoin) regarding a discussion we’ve had / are having about merged mining. We just met recently at CoinSummit, and it was great to talk about altcoins with the person who was first to adopt scrypt as a proof-of-work algorithm (which most altcoins are using currently).

Charlie pitched the idea of merged mining to me as a way of securing both the Litecoin and Dogecoin networks, which minimal coding work required. It’s a really interesting concept that has both it’s pros and cons, and I’ve really appreciated the level-headed discussion that’s been going on both here on Reddit and over on the various Dogecoin-related IRC channels.

If you’re not familiar with merged mining, I’ll let you do a quick Reddit search and do the reading yourself - but here are my thoughts on merged mining between Dogecoin, Litecoin or any altcoin for that matter:

Dogecoin is in a really interesting position, where we’ll reach block 600k and static rewards of 10,000 DOGE by the end of 2014. Up until then, saying that Dogecoin *needs *to do anything is really just speculation, and we have no real way of knowing how the network and it’s miners will react once block rewards drop.
Right now, merged mining with Litecoin wouldn’t really benefit Dogecoin. It’d just force all the dedicated, passionate Dogecoin mining pools out there to shift over to also mining Litecoin to reap their deserved rewards, which they may not want to do. On top of that, it’s fair to assume that Litecoin miners who come in will likely auto-dump the Dogecoin they’re rewarded, which isn’t necessarily great for the stability of Dogecoin as a currency and no better than what multi-pools are doing today.
Dogecoin has amazing growth at the moment, the strongest community in cryptocurrency behind it, and it’s viability shouldn’t be pegged to another currency or network while it’s only 4-5 months old.

In a nutshell, I don’t believe that merged mining is the answer right now. Maybe it will be once we see what happens past block 600k, but as I said that’s impossible to predict.

I’d actually propose this: Let’s work with other, smaller scrypt-based altcoins such as DigiByte to help them merged mine off Dogecoin as the parent blockchain. This helps secure all of our networks into the future (altcoins with lower hashrates are subject to frequent attacks), and I personally love seeing us crypto under-doges working together (DigiByte devs helping with us implementing DigiShield is a fantastic example of this). Just like Dogecoin, there’s no telling what the future of Litecoin holds either - so maybe they’ll want to merge mine off Dogecoin as the parent chain some day

Topic: Litecoin Creator (Charlie Lee) Recommends Merged Mining with Dogecoin (Read 5676 times)