(Unofficial) [ANN] Litecoin [LTC] to X11 algorithm hardfork - page 10.

litecoin_messiah

sr. member

Activity: 356

Merit: 268

Quote from: victormx on March 30, 2014, 03:12:42 PM

IMHO Better create your coin if you want your own algo. At the time of this means you do not have the ability to handle a coin and prefer to take the hard job of others(devs, community, minners, investors) and a stable user base, just my opinion don't hate me

These idiots think they can fork the litecoin change, fuck it rare possibility they will they choose x11, something that isn't even tested properly yet.

No point making Litecoin ASIC proof, the real aim is having the ASIC's diversified. I do whatever in my power i can to discourage the promotion of PRE-Orders happening, once we keep it this way it's unlikely we will have another BFLabs fiasco happening.

victormx

newbie

Activity: 5

Merit: 0

IMHO Better create your coin if you want your own algo. At the time of this means you do not have the ability to handle a coin and prefer to take the hard job of others(devs, community, minners, investors) and a stable user base, just my opinion don't hate me

ivanlabrie

hero member

Activity: 812

Merit: 1000

Quote from: AlexGR on March 30, 2014, 02:07:46 PM

Quote from: ivanlabrie on March 30, 2014, 01:49:39 PM

X11 is stupid, only algo that is asic proof is scrypt chacha with scheduled N factor changes on a rather frequent schedule. Frequent enough to put down asic development.

No such thing as asic-proof with most common algorithms. If the schedule is known in advance, an ASIC designer can make the necessary accommodations.

If on the other hand the coin is protected by the will of the devs to hardfork to something slightly different, then any algorithm is ok. For example just as scrypt-n could change the n factor, X11 could hardfork to reverse the flow of hashing between some hash types, thus braking ASIC functionality that expects the flow to go a certain way. Or even adding another two three hashes and making it X12/X13/X14/X15 etc.

You're not getting it...hard forking the coin every time is too complicated and not a good idea, imho.

Scheduled n factor changes make it pretty hard for asic developments to surface, since you'd need more and more ram each time to maintain the shaders saturated. Gpus will win each time, since you can adjust settings or get gpus with more vram and play with raw intensity and lookup gap.

Making asics and having to modify the software or making a new batch for each N factor is not economically feasible at all.

quovadiz

full member

Activity: 253

Merit: 100

Quote from: Alibell854 on March 30, 2014, 12:49:53 PM

Why would I build another GPU rig for $2200 when i can get a Script Asic miner that hashes 3 times as much with less power and costs me less than $400?

The low cost high efficiency Asic machines make it even easier for everyone to mine litecoin for much less than using GPUs. So they should help to maintain decentralization. Basically anyone get > 8 MHS for $0.04 per kHs and use a ton less electricity than GPUs.

I might even give away my GPUs just to replace them with 30 Fibonacci recursions per GPU on my mining rig. Way cheaper way to get great hashing power on one rig and at a much lower price per kHs. I just can't see how that will decrease decentralization. Everyone can do the same without buying a KNC Titan.

Just because it's not a fair market... Somebody, maybe who developed these Asic, is already using them... with such huge scrypt firepower they are collecting scrypt coins like nuts!.. Just some months for them to collect lot of coins witn a not fair hardware equipment... Who bought them in preorder gave the money long time ago... and they will receive asic when it will be late and the producers already squeezed out the most precious juice from scrypt coins... Good business is to have money in advance, to use now these asic and to dispatch them out with a high delay! Too easy and too unfair for me! and again... once these asic will finally be in stock they will already have a 2nd generation ready to mine for them w your money again at a higher and higher hashrate...
If the team will think it's better to change the algo then i'm for it!
Long life to the GPUs mining rigs!

ivanlabrie

hero member

Activity: 812

Merit: 1000

Quote from: hashnine on March 30, 2014, 02:56:33 PM

Quote from: Beeker on March 30, 2014, 06:35:13 AM

Quote from: jinhuadfh1 on March 30, 2014, 06:32:56 AM

Quote from: Beeker on March 30, 2014, 06:10:36 AM

Quote from: barryzand on March 30, 2014, 06:09:33 AM

wtf? lol.. thats actually possible?? hard fork it when youre not the dev? Huh

Yes it is.

Hi, is there any Litecoin offical statement from litecoin develop group?

We don't need the Litecoin developers.
We need the majority to support this to make this hardfork work.

The developer group doesn't have any power when the majority supports a hardfork.

So because you want to change the creation of the devs or because the peoples want, you will? it's not your creation man...

You're a fcking nazi.

Nope, a community takeover isn't bad...thing is it probably won't happen. Yacoin had one, the dev went missing and more capable people took over.

hashnine

full member

Activity: 126

Merit: 100

Quote from: Beeker on March 30, 2014, 06:35:13 AM

Quote from: jinhuadfh1 on March 30, 2014, 06:32:56 AM

Quote from: Beeker on March 30, 2014, 06:10:36 AM

Quote from: barryzand on March 30, 2014, 06:09:33 AM

wtf? lol.. thats actually possible?? hard fork it when youre not the dev? Huh

Yes it is.

Hi, is there any Litecoin offical statement from litecoin develop group?

We don't need the Litecoin developers.
We need the majority to support this to make this hardfork work.

The developer group doesn't have any power when the majority supports a hardfork.

So because you want to change the creation of the devs or because the peoples want, you will? it's not your creation man...

You're a fcking nazi.

Just for money.... you are ready to make anything.

litecoin_messiah

sr. member

Activity: 356

Merit: 268

LOL you ain't doing this for Litecoin mate, not as long as i'm breathing/

AlexGR

legendary

Activity: 1708

Merit: 1049

Quote from: ivanlabrie on March 30, 2014, 01:49:39 PM

X11 is stupid, only algo that is asic proof is scrypt chacha with scheduled N factor changes on a rather frequent schedule. Frequent enough to put down asic development.

No such thing as asic-proof with most common algorithms. If the schedule is known in advance, an ASIC designer can make the necessary accommodations.

If on the other hand the coin is protected by the will of the devs to hardfork to something slightly different, then any algorithm is ok. For example just as scrypt-n could change the n factor, X11 could hardfork to reverse the flow of hashing between some hash types, thus braking ASIC functionality that expects the flow to go a certain way. Or even adding another two three hashes and making it X12/X13/X14/X15 etc.

jayson3

member

Activity: 71

Merit: 10

Cryptocurrencies live or die by Metcalf's law - the network effect. The value of the network increases nonlinearly with the number of users.

Litecoin is the #2 crypto by market cap and is beginning to get some merchant adoption. If it is forcibly split into two chains, the value of both chains will likely be less than today's total. Uncertainty will kill merchant interest. Two smaller, weaker versions of litrecoin, divided, will both fail and be surpassed by others that are more stable.

Cryptos do not exist for the miners. Mining is a service to secure the chain. It should be hard. In a mature system, mining should earn low single digit % returns, otherwise the coin is no better than a bank.

ivanlabrie

hero member

Activity: 812

Merit: 1000

X11 is stupid, only algo that is asic proof is scrypt chacha with scheduled N factor changes on a rather frequent schedule. Frequent enough to put down asic development.

jussdf

newbie

Activity: 28

Merit: 0

Did this thread have been success?

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: Maged on March 30, 2014, 11:45:06 AM

I find it very concerning that the main developers aren't behind this and may not even have had an opportunity to view this proposal, let alone comment on it. I also find it very concerning how lightly these guys are taking the idea of a hard fork. To hard fork a chain as established as Litecoin is without some chain-breaking emergency going on (i.e. Scrypt found to be completely broken), you need at least a year and a very good plan. The premise of leaving a placeholder for the new client downloads and making it seem like a block has already been chosen for the fork is misleading at best, if not outright fraudulent.

Therefore, in the interest of protecting the Bitcoin community, I have rightly flagged this thread as unofficial. You should be ashamed of having posted this.

Good tag, but we all know this can never happen without Dev approval so it is a good discussion to have. After all As far as I know LTC was specifically intended to be ASIC proof. Or am I wrong on this?

Hueristic

legendary

Activity: 3836

Merit: 4969

Doomed to see the future and unable to prevent it

Quote from: Coindgr on March 30, 2014, 09:55:58 AM

We cannot say it was really a ninja launch, there was a thread mentioning that a new coin would be launched. Just the hour of the launch wasn't mentioned.

Regarding the 7am launch time, depends which country you live in.

But this thread is for discussing the X11 for LTC, ASICS will probably make the price go up, but they'll stay in the hands of few.

Lets keep this on topic, those that advertise other coins in this thread get the obligatory ignore.

ghur

full member

Activity: 154

Merit: 100

I'll be honest, this thread gave me a good laugh.

Now that was a giant waste of your time, OP.

DieCommieScum

full member

Activity: 128

Merit: 100

Why not just switch to (the original X11 coin) DarkCoin? It actually has useful other features like DGW and DarkSend

Alibell854

newbie

Activity: 10

Merit: 0

Why would I build another GPU rig for $2200 when i can get a Script Asic miner that hashes 3 times as much with less power and costs me less than $400?

The low cost high efficiency Asic machines make it even easier for everyone to mine litecoin for much less than using GPUs. So they should help to maintain decentralization. Basically anyone get > 8 MHS for $0.04 per kHs and use a ton less electricity than GPUs.

I might even give away my GPUs just to replace them with 30 Fibonacci recursions per GPU on my mining rig. Way cheaper way to get great hashing power on one rig and at a much lower price per kHs. I just can't see how that will decrease decentralization. Everyone can do the same without buying a KNC Titan.

harveyweizhao

member

Activity: 110

Merit: 10

I don't have an ASIC machine, and would be love to mine on the LTC-X11 with CPU.

Sylon

legendary

Activity: 1568

Merit: 1169

The logos are dope. Grin

Beeker

member

Activity: 94

Merit: 10

Meep

Quote from: Maged on March 30, 2014, 11:45:06 AM

I find it very concerning that the main developers aren't behind this and may not even have had an opportunity to view this proposal, let alone comment on it. I also find it very concerning how lightly these guys are taking the idea of a hard fork. To hard fork a chain as established as Litecoin is without some chain-breaking emergency going on (i.e. Scrypt found to be completely broken), you need at least a year and a very good plan. The premise of leaving a placeholder for the new client downloads and making it seem like a block has already been chosen for the fork is misleading at best, if not outright fraudulent.

Therefore, in the interest of protecting the Bitcoin community, I have rightly flagged this thread as unofficial. You should be ashamed of having posted this.

To prevent confusion I have removed the blocknumber for the hardfork from the title.
As said before, the blocknumber is subject to change and not set in concrete.

A coin and blockchain is not owned by any developer and or group and if a majority of the people holding, mining, running exchanges and pools are behind a hardfork, nothing can stop it.

If there is no support by a majority to be found for a hardfork, there will be no hardfork.
As said before, we will take several months to prepare this and gain support.
We hope to get the developerteam of Litecoin behind us but they rejected changes and ideas before. Very conservative and we think they are not doing a good job for LTC.

You as a moderator on this forum, can probably see my real IP and my senior username. That should be enough to proof you're not dealing with a fraud or a rookie.

To preserve LTC for the future, it's now time to make decisions.

HooDude

newbie

Activity: 55

Merit: 0

Do it!!!

Topic: (Unofficial) [ANN] Litecoin [LTC] to X11 algorithm hardfork - page 10. (Read 68513 times)