Litecoin is doomed to RIP anyway so ..
Thanks to coblee! 
So again, why is LTC doomed?
Because it was meant to lock out ASICs, now it has ASICs and the devs either can't change it without breaking the coin or were bought off.
Topic: Litecoin Creator (Charlie Lee) Recommends Merged Mining with Dogecoin - page 3. (Read 5676 times)
April 07, 2014, 10:43:20 AM
So again, why is LTC doomed?
Because it was meant to lock out ASICs, now it has ASICs and the devs either can't change it without breaking the coin or were bought off.
April 07, 2014, 10:41:09 AM
What people seem to forget: Maybe Dogecoin community doesn't want to merged mine together with LTC.
That's actually the overwhelming response so far from the /r/dogecoin community. They are viewing this as some kind of desperate attempt by Charlie Lee to help LTC sustain itself in the coming years. Not sure I completely agree with them.
April 07, 2014, 10:11:02 AM
Litecoin is doomed to RIP anyway so ..
Thanks to coblee! So again, why is LTC doomed?
because of people that make stuff like (C.A.T.) Cryptsy Auto Trader lol
i see your Dogecoin program link in your sig then CAT listed for sale on that page with a Reddit page link lol
Selling a bot and supporting Doge coin and posting coin bullshit on Reddit = gay.
but you will of course come here and spout of about doing the right thing while no one is looking then do the opposite right ?
oooh those damn scam coins i hate them so much !!!!
pss, hey (whispers).. where is the Flappy coin or My Little Pony wallet download link
hahaha HypocriteTalk.org
April 07, 2014, 09:59:36 AM
So let me just get my head around this ;
Litecoin
Merged with
Dogecoin
?
Dogelite?
: D
Litedoge sounds cool Litecoin
Merged with
Dogecoin
?
Dogelite?
: D
April 07, 2014, 09:23:19 AM
The whole software issue is just a matter of deployment.
From the wallets to the miners. To make it consumer and industry usable at all.
And as I said, any coin whose security is dependent on the network size is a flawed concept from the beginning.
It's like putting the cart before the horse. PoW has to be secured by other means, and it is already.
I don't think the concept of pure Scrypt PoW coins, secured by the tiny ASIC LOBBY, have any viable future.
The big money will be thrown at other models.
From the wallets to the miners. To make it consumer and industry usable at all.
And as I said, any coin whose security is dependent on the network size is a flawed concept from the beginning.
It's like putting the cart before the horse. PoW has to be secured by other means, and it is already.
I don't think the concept of pure Scrypt PoW coins, secured by the tiny ASIC LOBBY, have any viable future.
The big money will be thrown at other models.
What are those "other means"?
All coins are more or less dependent on the network. Even the POW-POS coins are.
April 07, 2014, 08:50:45 AM
What people seem to forget: Maybe Dogecoin community doesn't want to merged mine together with LTC.
April 07, 2014, 08:41:05 AM
So let me just get my head around this ;
Litecoin
Merged with
Dogecoin
?
Dogelite?
: D
Litecoin
Merged with
Dogecoin
?
Dogelite?
: D
April 07, 2014, 08:39:14 AM
Actually is El Dude about ?
This is certainly now my favorite topic on this forum maybe lock it ha ha so i can remake it?
This is certainly now my favorite topic on this forum maybe lock it ha ha so i can remake it?
April 07, 2014, 08:11:22 AM
Doge started as a circle jerk and now they have figuered out that the imminent loss of ASIC monopoly means the effective charitable funding of soon to be KnC ASIC owners, as there are no or little real investors. And never were .
So what to do?
So what to do?
April 07, 2014, 08:07:08 AM
The reasoning is simple.
Dogecoin proved that a very destructive force could be created very rapidly via a meme.
If Dogecoin had wanted to, the nethash could have easily have ended Litecoin for all effective purposes.
The only real security in crypto is mult peta hash rate.
Something that will never be obtained with gpus.
~BCX~
Dogecoin proved that a very destructive force could be created very rapidly via a meme.
If Dogecoin had wanted to, the nethash could have easily have ended Litecoin for all effective purposes.
The only real security in crypto is mult peta hash rate.
Something that will never be obtained with gpus.
~BCX~
There's that old "centralized is secure" meme that no one is buying anymore.
more power doesn't = more secure.
all it means is you are holding on to the fact that people will be politically ignorant enought to "believe" that the few people that end up owning all the ASICs are not either ;
1. Fiat Banking interests
or
2. Their many agents. (Some if which try to pass themselves off as "Government" agents)
Considering they have the biggest interest and the most directly effected, can you explain how you know that ;
1. They somehow missed that with thier expansive operational " intelligence" gathering operations or
2. Why or how they have figured that a digital " money" created not though debt or thier power is something they wouldn't be interested in.
I eagerly look forward to the explanation, Because an adequate answer to that would explain why ASICs are good because once you can explain how Fiat Debt money banks dont care about crypto then you can explain why there is no problem if # is increasingly concentrated in the smallest hands with the most, wait for it , Fiat debt money.
Considering
April 07, 2014, 06:53:04 AM
You know that this is utter nonsense.
Any coin relying on network size for security reasons is a flawed concept in the first place.
Go ahead and merge, that'll be the end for both coins.
I wouldn't mind actually, all these crap Scrypt PoW coins getting out of the way.
You should instead think more about how you could make it a usable product for end customers.
Instead of trying to cheat more people out of their investments.
SCAM - SHITCOINS - your words - applies to LITE and DOGE more than ever in the meantime.
I agree with the usable product part, but coins really need multi peta hashrate for security and to ensure a steady flow of coins.
If you take a look at CPU coins you will see that most of them are vulnerable to botnets. GPU mined scrypt coins are vulnerable to big players... and both are vulnerable to new more profitable coins.
IMO only ASICs and merged mining can secure a blockchain. Not just because of the sheer power of the ASICs but also because of buying for example a scrypt ASIC means that you have long term plans with that particular algo, and you (and thousands of other miners) will not reconfigure your rigs tomorrow for let's say DRK and leaving your previous favorite (scrypt)coin with some tiny hashrate, thus making it a sitting duck.
The whole software issue is just a matter of deployment.
From the wallets to the miners. To make it consumer and industry usable at all.
And as I said, any coin whose security is dependent on the network size is a flawed concept from the beginning.
It's like putting the cart before the horse. PoW has to be secured by other means, and it is already.
I don't think the concept of pure Scrypt PoW coins, secured by the tiny ASIC LOBBY, have any viable future.
The big money will be thrown at other models.
April 07, 2014, 06:26:22 AM
You know that this is utter nonsense.
Any coin relying on network size for security reasons is a flawed concept in the first place.
Go ahead and merge, that'll be the end for both coins.
I wouldn't mind actually, all these crap Scrypt PoW coins getting out of the way.
You should instead think more about how you could make it a usable product for end customers.
Instead of trying to cheat more people out of their investments.
SCAM - SHITCOINS - your words - applies to LITE and DOGE more than ever in the meantime.
I agree with the usable product part, but coins really need multi peta hashrate for security and to ensure a steady flow of coins.
If you take a look at CPU coins you will see that most of them are vulnerable to botnets. GPU mined scrypt coins are vulnerable to big players... and both are vulnerable to new more profitable coins.
IMO only ASICs and merged mining can secure a blockchain. Not just because of the sheer power of the ASICs but also because of buying for example a scrypt ASIC means that you have long term plans with that particular algo, and you (and thousands of other miners) will not reconfigure your rigs tomorrow for let's say DRK and leaving your previous favorite (scrypt)coin with some tiny hashrate, thus making it a sitting duck.
April 07, 2014, 06:21:39 AM
I can follow CL logic but that doesn't make Dogecoin better than it is: another shitcoin...
April 07, 2014, 06:15:02 AM
This would only apply if there were a real market for those coins, but there is none.
Look at what happened to DOGE since the first halving.
Did it double in price?
No, it did the opposite. Why? Because there is no market, no real demand, pure PONZI.
The only chance I see for Litecoin is to make some good distance to the competitiors by innovation.
Not by flawed assumptions whose only goal is to scam more investors out of their money.
People told the same about Quarkcoin, the first block reward halvings came and the coin lost a lot of value. Then it halved to 32QRK and bam, 50000% rise in 3 days or so.Look at what happened to DOGE since the first halving.
Did it double in price?
No, it did the opposite. Why? Because there is no market, no real demand, pure PONZI.
The only chance I see for Litecoin is to make some good distance to the competitiors by innovation.
Not by flawed assumptions whose only goal is to scam more investors out of their money.
I think all this talk about algo and spec changes is nonsense and hurts the stability of the coins in question. Merged mining may be useful, not 100% on that yet.
This is how size works, nice for the Quark crowd. They made a killing.
And it kind of proofs my point, that it is very important to have an innovative underlying concept.
There is big money sitting out there, waiting for good concepts to hit on.
As it seems, it's not gonna be PoW coins based on the Scrypt algo, secured by a network of custom gadgets, built by a handful of freaks.
April 07, 2014, 06:02:33 AM
This would only apply if there were a real market for those coins, but there is none.
Look at what happened to DOGE since the first halving.
Did it double in price?
No, it did the opposite. Why? Because there is no market, no real demand, pure PONZI.
The only chance I see for Litecoin is to make some good distance to the competitiors by innovation.
Not by flawed assumptions whose only goal is to scam more investors out of their money.
People told the same about Quarkcoin, the first block reward halvings came and the coin lost a lot of value. Then it halved to 32QRK and bam, 50000% rise in 3 days or so.Look at what happened to DOGE since the first halving.
Did it double in price?
No, it did the opposite. Why? Because there is no market, no real demand, pure PONZI.
The only chance I see for Litecoin is to make some good distance to the competitiors by innovation.
Not by flawed assumptions whose only goal is to scam more investors out of their money.
I think all this talk about algo and spec changes is nonsense and hurts the stability of the coins in question. Merged mining may be useful, not 100% on that yet.
April 07, 2014, 05:53:56 AM
Dogecoin should switch from POW to POS algorithm and GO GREEN! Take a look at NXT, PeerCoin, Bitshares... Then those 5,000,000,000 coins reserved for yearly miners rewards they can redirect to LUNAR Đ project 
, DOGE holders (network) and DogecoinFoundation. Dogecoin is in unique position regarding these plan because they will soon reach they goal; 100,000,000,000 dogecoins.
, DOGE holders (network) and DogecoinFoundation. Dogecoin is in unique position regarding these plan because they will soon reach they goal; 100,000,000,000 dogecoins. April 07, 2014, 05:51:51 AM
If this move doesn't change the number of DOGE's from current reward schedule (100 bln to the beginning of 2015 and then each block 10 000 doges starting from block 600 000), then sure, why not, it's a good idea to strengthen the security of both coins by merged mining.
The only thing not to mess with is the block reward schedule, because this is the crucial factor for investing, that helps evaluate the potential price of the coin. If the supply of the coins is messed with, and the originally planned supply is changed, that would make any coin a joke (just like fiat is a joke because the future supply can be printed at whim in any quantities if needed) and investors would flee that coin in packs. Cryptos are good and different, because the coin supply increase is known for years ahead. Let's not play with that.
The only thing not to mess with is the block reward schedule, because this is the crucial factor for investing, that helps evaluate the potential price of the coin. If the supply of the coins is messed with, and the originally planned supply is changed, that would make any coin a joke (just like fiat is a joke because the future supply can be printed at whim in any quantities if needed) and investors would flee that coin in packs. Cryptos are good and different, because the coin supply increase is known for years ahead. Let's not play with that.
This would only apply if there were a real market for those coins, but there is none.
Look at what happened to DOGE since the first halving.
Did it double in price?
No, it did the opposite. Why? Because there is no market, no real demand, pure PONZI.
The only chance I see for Litecoin is to make some good distance to the competitiors by innovation.
Not by flawed assumptions whose only goal is to scam more investors out of their money.
April 07, 2014, 05:39:53 AM
Litecoin is doomed to RIP anyway so ..
Thanks to coblee! So again, why is LTC doomed?
April 07, 2014, 05:33:42 AM
If this move doesn't change the number of DOGE's from current reward schedule (100 bln to the beginning of 2015 and then each block 10 000 doges starting from block 600 000), then sure, why not, it's a good idea to strengthen the security of both coins by merged mining.
The only thing not to mess with is the block reward schedule, because this is the crucial factor for investing, that helps evaluate the potential price of the coin. If the supply of the coins is messed with, and the originally planned supply is changed, that would make any coin a joke (just like fiat is a joke because the future supply can be printed at whim in any quantities if needed) and investors would flee that coin in packs. Cryptos are good and different, because the coin supply increase is known for years ahead. Let's not play with that.
The only thing not to mess with is the block reward schedule, because this is the crucial factor for investing, that helps evaluate the potential price of the coin. If the supply of the coins is messed with, and the originally planned supply is changed, that would make any coin a joke (just like fiat is a joke because the future supply can be printed at whim in any quantities if needed) and investors would flee that coin in packs. Cryptos are good and different, because the coin supply increase is known for years ahead. Let's not play with that.
April 07, 2014, 05:15:54 AM
The reasoning is simple.
Dogecoin proved that a very destructive force could be created very rapidly via a meme.
If Dogecoin had wanted to, the nethash could have easily have ended Litecoin for all effective purposes.
The only real security in crypto is mult peta hash rate.
Something that will never be obtained with gpus.
~BCX~
Dogecoin proved that a very destructive force could be created very rapidly via a meme.
If Dogecoin had wanted to, the nethash could have easily have ended Litecoin for all effective purposes.
The only real security in crypto is mult peta hash rate.
Something that will never be obtained with gpus.
~BCX~
You know that this is utter nonsense.
Any coin relying on network size for security reasons is a flawed concept in the first place.
Go ahead and merge, that'll be the end for both coins.
I wouldn't mind actually, all these crap Scrypt PoW coins getting out of the way.
You should instead think more about how you could make it a usable product for end customers.
Instead of trying to cheat more people out of their investments.
SCAM - SHITCOINS - your words - applies to LITE and DOGE more than ever in the meantime.
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