Topic: [POLL] Would you support a Litecoin [LTC] to X11 algorithm hardfork? - page 2. (Read 12783 times)

Litecoin is made as asic resistant and it should be asic resistant.

LTC has been around to long to really fork like this just to avoid asic..When one day it will get asic anyhow for whatever algo it has.

My opinion is if you start changing it then you need to continue to change it and that like the devs have stated is not a good idea because so many people will be on the wrong forks sending their coins from exchanges to their wallets that are not on the right fork.

I will try to elaborate.
Because ltc has been around so long and so many trust it because it does not change and even the people who don't think that way..maybe just people who don't even follow its news but trade it speculatively so
what if they see the price of ltc go up and its in the news and they want to sell what they had stashed and they send funds from an old ltc wallet to an address on the exchange but because they are on a different fork those funds actually go to an address on another fork and not the exchange thus losing them all forever..this is not something you do lightly it has everything to do with peoples money and time put in to speculate mine or hoard whatever it is a dangerous notion to be playing with such a well established coin with wallets they have stashed in safes or whatever..they only have to update the wrong client and send to an exchange and lost forver its too damn big of a market cap to be facilitating gpu miners wishes to remain relevant on scrypt hashing unfortunately

You don't have to agree with the ltc team but they have proven time and time again that they are #2 for a reason and have put in the hard work for all the scrypt coins you see today they have even contributed to helping bitcoin fixes so in my eyes they have earn't their stripes and i trust them to get advice on this problem they are faced with right now

put your time and effort into getting LTC bigger and more mainstream rather than wasting time to make it ASIC resistant for a bit longer.  Dont fight ASICs, just focus on getting LTC to be THE currency.

Error: fallacy detected: argumentum ad nauseam

This is the most pointlessly arrogant and destructive endeavor I have seen in cryptocurrency, yet. You know this worthless fork has no chance of success without the Litecoin name and resulting market confusion. If you want to make yet another Litecoin fork, go for it and call it something else. This project is asinine and I hope nobody supports this B.S.

much evidence. very shock. so greed. slight confusion  == much catastrophe. This has happened many times before, wow precedent, much sure.

The ramifications to changing such a huge coinbases' algo could be catastrophic and highly confusing
if i was a bitcoin fanboy and wanted to see ltc die this is what i would be trying to achieve right now..changing ltc algo by way of a vote
because thats all it will do

What I'm saying is that the community would "fork" as well with people trying to stick to script, and people going for other algos. Lets just see I suppose.

Would i support changing the second most valuable coins' algo so then asics are made for x11?

Most prolly if i chased every new alt coin algo cause i thought it was going to make me more profit all while selling it as asic proof (which in my opinion should come with a disclaimer saying asic proof for a whiles yet) yer i prolly would!

But i don't because i'm not stupid and with lack of common sense so thats a big no for me!

Fact is ltc tried to be asic proof but got big, their dev team are not financial in the beginning and never thought about motivations to make asic.
they think its undesirable to have asics for it in the sense that it goes against what satoshi created bitcoin for but thats just the thing he created it to be for the masses
and freedom to chose gives us the freedom to make asic no one should be surprised and you can only run for so long..and how many people are you going to inflict damage
 on in the long run by running vs embracing yet another inevitable change..

They would learn not to build filthy ASICs for glorious LTC, the hard way. Who would make an ASIC for x11 after the hard fork when they know full well it is very likely the algo will change.

Basically Bitcoin started centralized and stayed that way, partly due to no fault of its own.

The market expects Bitcoin the be centralized,  and its only savoir is corporate integrated investment,  ( very unlikely savior)

But even if LTC had a gpu miner very early it makes it about on par with the x11 miner now , everyone knows its out there, the market is more educated.

This means LTC has much more of a community relevancy so this poll does matter.

IDK if this has been said yet but,

Since there are so many preorders for scrypt asics, with KNC selling $2 million worth or so, there's a lot of money on the line. How do you think people would react if LTC, main scrypt coin, suddenly changed algo's? Just some speculation, would like some feedback.

Yes but nevertheless the reason this matters is because it does matter politically from a community point of view, it is important LTC like many crypto have long prime distribution times, and thus this mining segment matters a lot for both confidence and investment to a degree.

Otherwise of course,  what justified the price ? 

So these things do matter obviously.

LTC is much less price manipulated than BTC, less centralized,  but many might see risks in that centralization due to of course the long distribution time and ASICs.

If no action is taken and the price moves lower, will this create pressure for a hard fork ? 

Thats a good question .

copy darkcoin?

X11 sound like OS X and look like mac - apple.

I wonder, how many of those votes are in fact litecoin supporters, miners, community, and how many just haters, happy to see someone trying to destroy it.

Do you actually believe that guy? If you believe that a coin can be succesfully forked with a new algo every some months without creating a big mess (and basically destroying it) then you are beyond help bro!

While the LTC developers do not own the coin, neither do you. They do however have about 100% more credibility than you. Along with the full support of the community. Nothing will come of this hardfork.

How is it a scam?

So you actually intend to fork the coin to implement a new algorithm every time ASICs catch up? This is not just a scam, this is scam to the power of ten

P.S. OMG I cannot believe there are people so naive to fall into this