[LTC] Litecoin Core Development Fundraising - page 7.

wtogami

sr. member

Activity: 263

Merit: 250

Quote from: mmitech on June 05, 2013, 07:43:45 AM

yes I wish that you will be able to get that amount, but hey good news!! we know that some people have a shit load of LTC and they would be more than happy to see LTC go further, and 2000 LTC wont be anything for them , they wont even feel the deference.

I can suggest that you PM this guy, you know the one who makes LTC astro charts for LTC, his nick name is Otoh look at this thread https://bitcointalksearch.org/topic/litecoins-astro-chart-148077

this is his LTC address http://ltc.block-explorer.com/address/LcLJUZtRyLTs9uNqfWZijo2mFnMbdoQTfb

I mean come on this guy have 598,696.25 LTC Shocked

and he recieved a total of 1,889,096 . I was shoked when i first saw this.

go ahead Pm him.

Otoh already donated an amount in BTC more than most donors. Please see the spreadsheet.

wtogami

sr. member

Activity: 263

Merit: 250

Quote from: Simran on June 05, 2013, 03:48:54 PM

warren, can you tell what development has been made before I actually donate? There are a few people on this "dev" team that don't even code at all, so I'd like to see the advances being made. Atm, all I see is asking for money.

See 2nd post for commit log as of May 31st. The hard part has been vigorous testing which has gone well so far. Only a few bugs were found and fixed. Yesterday pooler, coblee and I figured out an ambitious plan to improve memory use of litecoind. I need to code it and run test it on a fakecoin to make sure it will be safe. If we do this plan, it would need to be done now because it requires everyone to reindex, which happens automatically when users run 0.8.2 for the first time.

The other coders like aspect and weex don't work on the core C++ reference client. They are however talented in other areas that will be critical to the supporting tools and infrastructure that folks would need to make it easier for vendors to integrate. A team with diverse skills is a benefit here, as bug fixes or new features to http://ltc.block-explorer.com/ that would take them minutes to write would take me 10x as long.

misternoodle

member

Activity: 108

Merit: 10

Donated 15 LTC.

Simran

hero member

Activity: 714

Merit: 500

wtogami

sr. member

Activity: 263

Merit: 250

Quote from: adpinbr on June 05, 2013, 02:22:14 PM

Also why don't you just eliminate transaction fees for the next few years? There will still be plenty of miners competing for the LTC prize. more than enough hash power to secure the network

http://ltc.block-explorer.com/charts
Zoom into November 2011 on the first chart. Without fees, attacks can spam the network to death, causing the blockchain and UTXO set to grow out of control, eating disk and RAM until everyone quits. Today 12M of our 13M UTXO that must remain in RAM forever are from the November 2011 spam attack. We have had very little spam after the anti-spam rules were added.

Litecoin-0.8.2 will reduce fees by 5x. After that we will reassess market behavior and adjust fees again in 0.8.3 accordingly. In the long-term we are looking at various designs that would allow fees to float with free-market competition based on supply and demand.

coblee

donator

Activity: 1654

Merit: 1351

Creator of Litecoin. Cryptocurrency enthusiast.

Quote from: adpinbr on June 05, 2013, 02:22:14 PM

Quote from: wtogami on June 05, 2013, 01:20:05 PM

Litecoin Dev Team has awarded a 200 LTC donation to forrestv for his current redesign of p2pool. A future update to p2pool will hardfork their sharechain to increase the minimum size of dust. This is important to the long-term health of the network, and it helps to reduce fees in combining p2pool dust for the miners. Thank you forrestv!

https://plus.google.com/104307324656397909502/posts
Please follow us on Google+ for the latest dev team news.

Is this the good news we were waiting for?

Also why don't you just eliminate transaction fees for the next few years? There will still be plenty of miners competing for the LTC prize. more than enough hash power to secure the network

The good news is the 5000 LTC matching donation. See Warren's post a few posts above.

Transaction fees are not just for paying miners. They are also used for transaction spam prevention. If we eliminate the transaction fees, then a spammer can bloat our blockchain by sending a 0.00000001 LTC to a million addresses and only spend 0.01 LTC.

adpinbr

sr. member

Activity: 1078

Merit: 254

Quote from: wtogami on June 05, 2013, 01:20:05 PM

Litecoin Dev Team has awarded a 200 LTC donation to forrestv for his current redesign of p2pool. A future update to p2pool will hardfork their sharechain to increase the minimum size of dust. This is important to the long-term health of the network, and it helps to reduce fees in combining p2pool dust for the miners. Thank you forrestv!

https://plus.google.com/104307324656397909502/posts
Please follow us on Google+ for the latest dev team news.

Is this the good news we were waiting for?

Also why don't you just eliminate transaction fees for the next few years? There will still be plenty of miners competing for the LTC prize. more than enough hash power to secure the network

wtogami

sr. member

Activity: 263

Merit: 250

Litecoin Dev Team has awarded a 200 LTC donation to forrestv for his current redesign of p2pool. A future update to p2pool will hardfork their sharechain to increase the minimum size of dust. This is important to the long-term health of the network, and it helps to reduce fees in combining p2pool dust for the miners. Thank you forrestv!

https://plus.google.com/104307324656397909502/posts
Please follow us on Google+ for the latest dev team news.

Mahn

full member

Activity: 140

Merit: 100

jubalix

legendary

Activity: 2632

Merit: 1023

Quote from: ictin on June 05, 2013, 09:20:50 AM

Quote from: mmitech on June 05, 2013, 08:40:36 AM

Quote from: kelsey on June 05, 2013, 08:09:34 AM

mmitech seriously dude aint these guys making money?

they are making money the same way as miners or investors, this means if they are mining this doesn't make them better than any miner because at the hash rate they are contributing to the network their reward is the same as a regular miner contributing the same hash rate, being a Dev doest mean that he is making more LTC's than others, the source code is open and any one can review it if you do not know how things works, and even if they buy LTC from exchanges they are paying the same rate as any other trader.

I am an IT engineer and I have small side projects beside my full time job as well, but there is no chance that I will be doing any developing or any other work in my supposedly free time just like that for free. with the knowledge that my work will help people make money of it,

I would do the same like these guys, ask for donations, and if people wouldn't donate this means only that this bastards doesn't appreciate what I am doing, or they think that I am a loser working for them and most worst is for free.

so people give them a break and threw some LTC on them, because you do realize that if they decide to stop doing it , your coins wont be worth a shit .

Unfortunately the crypto community is a greedy and lazy community. They want for others to do all the work for free and they to profit by just having a miner rig plugged in. Let's jope than in time this will change in time, because otherwise i don't see a bright future for the crypto coins.

I was expected to be many thousands of LTC donated in a short period of when I heard about this fundraising, considering that there are users with tens of thousands of LTC, and many that have become rich over night because some people have devoted their time to develop this coin. Seeing now how much the people donated i can say only that i am very disappointed in the crypto community and i can conclude that they are worse than the "evil" bankers.

I'm not so sure about this analysis

see if these unamed people have some much LTC, and were trying to get rich quick they would have dumped, but they havent' so either they are not as get rich quick or they don't have as much LTC as you may think

I am a little worried about the this match 5000,

also I think I saw Coblee has 4K of BTC on one address, which is way more 13K of LTC....

he if he so chose could bankroll a bit of DEV with a fraction of that (I may be wrong)

I maybe wrong on this number but recall seeing it in an 2012 thread, is a spread sheet program he put together.

right or wrong I still think independent Donations are warranted and good for the DEV of CC's and LTC.

ictin

full member

Activity: 258

Merit: 100

Look ARROUND!

Quote from: mmitech on June 05, 2013, 08:40:36 AM

Quote from: kelsey on June 05, 2013, 08:09:34 AM

mmitech seriously dude aint these guys making money?

they are making money the same way as miners or investors, this means if they are mining this doesn't make them better than any miner because at the hash rate they are contributing to the network their reward is the same as a regular miner contributing the same hash rate, being a Dev doest mean that he is making more LTC's than others, the source code is open and any one can review it if you do not know how things works, and even if they buy LTC from exchanges they are paying the same rate as any other trader.

I am an IT engineer and I have small side projects beside my full time job as well, but there is no chance that I will be doing any developing or any other work in my supposedly free time just like that for free. with the knowledge that my work will help people make money of it,

I would do the same like these guys, ask for donations, and if people wouldn't donate this means only that this bastards doesn't appreciate what I am doing, or they think that I am a loser working for them and most worst is for free.

so people give them a break and threw some LTC on them, because you do realize that if they decide to stop doing it , your coins wont be worth a shit .

Unfortunately the crypto community is a greedy and lazy community. They want for others to do all the work for free and they to profit by just having a miner rig plugged in. Let's jope than in time this will change in time, because otherwise i don't see a bright future for the crypto coins.

I was expected to be many thousands of LTC donated in a short period of when I heard about this fundraising, considering that there are users with tens of thousands of LTC, and many that have become rich over night because some people have devoted their time to develop this coin. Seeing now how much the people donated i can say only that i am very disappointed in the crypto community and i can conclude that they are worse than the "evil" bankers.

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

Quote from: kelsey on June 05, 2013, 08:09:34 AM

mmitech seriously dude aint these guys making money?

they are making money the same way as miners or investors, this means if they are mining this doesn't make them better than any miner because at the hash rate they are contributing to the network their reward is the same as a regular miner contributing the same hash rate, being a Dev doest mean that he is making more LTC's than others, the source code is open and any one can review it if you do not know how things works, and even if they buy LTC from exchanges they are paying the same rate as any other trader.

I am an IT engineer and I have small side projects beside my full time job as well, but there is no chance that I will be doing any developing or any other work in my supposedly free time just like that for free. with the knowledge that my work will help people make money of it,

I would do the same like these guys, ask for donations, and if people wouldn't donate this means only that this bastards doesn't appreciate what I am doing, or they think that I am a loser working for them and most worst is for free.

so people give them a break and threw some LTC on them, because you do realize that if they decide to stop doing it , your coins wont be worth a shit .

kelsey

legendary

Activity: 1876

Merit: 1000

mmitech seriously dude aint these guys making money?

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

and I would like to add this, to these who complain about the hole thing, LTC is the best coin after BTC and may be the only alt who stand a chance to survive next to BTC, was released publicly without premined blocks(only 3 blocks to test and confirm the first block), you all have the chance to mine it with your GPU there is no VIP ASIC club going around like in BTC an other SHA-256 based coin, and I really believe that will have a great future, and i know that allot of people share this with me, so when i saw a 6000+ read and only few donations, it makes me think how people thinks, honestly you really think that these developers will contribute their time and energy for free so you can get rich out of it and not even consider donating at least 1 or 5 or even 10 LTC. come on you must be so stupid, and than you come here and attack them.

you have complained so log about how there is no active developers around LTC, today you've got what i believe a good team with motivation and this is how you react to it ?!!!!

you people are really ignorant !!!!!!!

mmitech

legendary

Activity: 1148

Merit: 1001

things you own end up owning you

wtogami

sr. member

Activity: 263

Merit: 250

TsuyokuNaritai

hero member

Activity: 574

Merit: 500

Quote from: adpinbr on June 05, 2013, 07:16:57 AM

Im not trying to be a little troll and I appreciate all the work you guys do to make me rich, but honestly you gotta admit that statement sounds kinda manipulative. I mean if someone has 5K they want to donate they should do it regardless of what the community does. I just feel thats kind of a manipulation on his part to get more donations from the community (a legitimate line of logic saying he wants to see mutual commitment from the community as he does from himself) the issue he is anonymous (also logical). Problem is that the outcome (send us more money) sounds kind of, well, you know what it sounds like. Anyways I'm sure we will see how this plays out, ill just shut up till then, and most likely this is legit, just has a sound of scamy to me

It's not unusual for good causes to do matching donation challenges. It's not scammy. It's a bit manipulative, but no more than most of what good causes do to raise money, and it's proven to be effective.

adpinbr

sr. member

Activity: 1078

Merit: 254

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Litecoin Team, just wanted to say thanks for all the work you are doing. I sent some LTC!

Keep on going!

r3demon

newbie

Activity: 45

Merit: 0

Topic: [LTC] Litecoin Core Development Fundraising - page 7. (Read 27985 times)