Topic: (Unofficial) [ANN] Litecoin [LTC] to X11 algorithm hardfork - page 9. (Read 68513 times)

This is mildly entertaining.

So let me get this straight, it's not your coin, you weren't even around during its inception, but now all the sudden you decided that its your coin?

Why do you mine DRK instead HIRO?
When I calc profit at current price for 30,000 khash /X11/:

DRK about 12 DRK daily = 0.01682 BTC
HIRO about 2000 HIRO daily = 0.0436 BTC

really don't understand how can someone mine DRK and be happy with so low earnings.
Fact is, that X11 consume about -50% electricity compare with scrypt, but anyway 0,016 daily is fuckin low for that speed




And I thing X11 for regular ltc is not good idea. Ltc is fine now, when the price jump up thanks to asics, more X11 alts will come. Thats good for GPUs future. There is new ltc for gpus - HIRO
And really decentralized network is no ASIC network, because no one can buy it "right now" /pre-orders, late delivery etc./ compare with GPUs, and ROI at invest $10,000 is discutable, if you'r not a manufacturer
Time to look at PoS coins like communitycoin, I thing big potential coin .)

yep , leave litecoin as it is.we dont need u messing with it.i think its quite pethetic u saying u dont care weather u get litecoin dev's support or not.to me thats just fuking rude.go make your own coin.the litecoin communtiy dont want this.y fuk with something that aint broken.

Doing this wouldn't secure LiteCoin's future. It would doom it.

ASIC doesn't mean you loose decentralization. I mine both with GPUs and with ASICs. ASICs are cheaper, faster, energy efficient. The energy efficiency means someone like myself who doesn’t own a datacenter with 1000s of AMPs of power can mine 100s of MegaHashs. If you stay with GPUs then in the future only people with lots of time, money, large scale cooling, and power can mine the coin for profit.

Again ASICs means you can mine coin for *cheaper* up front costs.
Again ASICs means you can mine coin for *less* power.
Again ASICs means you can *scale* your mining operation to larger heights without having data-center like resources.
Again ASICs means more coin, for less energy, to *more people*, faster.

ASICs should not be feared.

People do not like that they will have to spend more money after buying a lot of GPUs that may have not yet gotten a ROI. That is understandable. And there are other Coins out there that are still GPU only. So there is no need to throw in the towel. Why not look into up-in-coming coin ideas. Like SecureCoin, or FairQuark. Or some of the N-Scrypt coins.

If you make a coin that tries to replace LiteCoin but is more ASIC resistant you will just... lower.. the difficulty of ... litecoin... hrmm... GO GO GO dam those dirty ASICs for taking over LiteCoin... ALL GPU miners should just leave now! Power to the ... rrr... X11 Coin!? woot!

p.s:
Also... X11!? De-frack? You REALLY wanna name your coin after a monolithic horrible bundle of miss match code that is X11. Not to borrow from the Emacs haters but... X11 is a good OS, its just lacking a Window System. Actually that isn't even true... its horrible. All hail WayLand!

This is not ethical, if you have a problem with Litecoin - then make another coin, don't try to steal Litecoin's userbase. Anyways, chances this project will succeed are ridiculous, you're wasting your time.

"Technological" progress as in "pre-order funded R&D" devices that you get way after the manufacturer's done playing with them is not my idea of progress nor descentralization.
I think greed will make it hard to fight these asic beeyetches but the pre-order scam must die, people should vote with their wallets...just my opinion naturally.

You won't make any money buying asics from the greedy as fug manufacturers who only deal with pre-orders. Go gpu, AMD or Nvidia don't care as much as to not sell you gpus and mine themselves, they got better things to do.

OP, I understand what you are trying to do, but you are fighting a losing battle.

A hard fork is simply the creation of a new coin. Sure you can say, "This new coin will honor the balances of the old coin prior to block X", but its still a new coin.

There is no point in fighting technological progress, you will ultimately fail. You cannot protect anything from the future.

http://en.wikipedia.org/wiki/Luddite

2 LTC can exist, of course.

In practice this new one will not gain any traction and will probably die off soon enough.

Good luck on this. You will hardly get any support though, and it will remain as just another fork.

I vote NO.

If you want a new algorithm then make a new coin or mine one that has what you like. Litecoin is fine as it is.

ASIC is the natural progression from GPU's just as GPU's were from CPU's.

Also, if there's a split it 'could' make both chains more vulnerable to attack.

It will likely bring into question the coins value/security.

Again, if you want something different, why mess with litecoin?

Not everyone can deal with GPU's and the problems that come with them. ASIC's (although pre orders suck) allow even more people to get involved as they are usually self contained professionally designed devices.

My 2 cents.

The first step to getting everyone onboard is to get the Dev's to come in a thread and SAY they are onboard. Since you have spoken to them this should not be a problem rite?

I would just like to see them start a thread to discuss the matter. The community should decide on what algo to change if any not some guy that says We are gonna add x11. I'm not arguing it's not the best algo to goto as I freely admit I have not researched it and don't intend to spend my time do just that. But it does need to be vetted by those that are capable as well as vested.

If a majority agrees on mining and trading with the updated client (with the hardfork set at block 5xx,xxx) the old chain can still be mined but will not be accepted by pools, exchanges, etc.

Hardforking is the easy part, the developers told me.
The difficult part is to get everyone behind us, on the new fork.

That's where our challenge lies ahead.

Litecoin is not owned by the current developers or anyone, it's a decentralized P2P currency and if enough people support a change, that's the change.
That's why, for example, Ghostlander was able to takeover PXC when the developers went awol; the community, pools and exchanges accepted his hardfork for the parameters he changed.

We like to call coins "decentralized" but when a group offers to bring changes to the coin, people start pointing at the LTC developers. They are not needed, just like Satoshi Nakamoto wasn't needed for the success of Bitcoin.

Some people are screaming and shouting at us for the fact that we want to bring progress to LTC. I guess they don't understand how P2P cryptocurrencies work.

so, there'll be 2 LTC or the older must die?

LOL, you lose. That didn't take long.

http://en.wikipedia.org/wiki/Godwin%27s_law

I assume you voted against?

Ok Nostradamus. I think you missed the point of this discussion.

BTW before anyone thinks otherwise, I am not part of this group and stumbled on this thread as I have been thinking ASIC is a centralization factor for some time and only one coin can afford it and that coin is already "Coined" so to speak.

If you want to experiment, make your own coin.  There is $350 million in market value in Litecoin, and a rogue hard fork puts that value at risk.  A big part of that value is due to the stability, longevity, and widespread adoption of litecoin.  The technology is proven.  Your proposal will destroy the very factors that make Litecoin valuable as it is today.

Lets just make everyone happy...What about litecoin-asic and litecoin-Scrypt 

QFT


EDIT:
I would also like to add that if and when the Devs do this they will have PROVEN that they are willing and able to hard fork when needed and then those that would profit on creating the ASIC for the next fork will realize it is doomed to failure before release and therefor will naturally not attempt it again.