Topic: What's most needed for Litecoin to be successful? (Read 2354 times)
Litecoin is already successful as a testbed for Bitcoin.
LiteCoin won't be successful long term unless there is something is does better than BitCoin and that's just not the case.
A common myth is that you need to wait for a confirm for a small transaction. It's just not needed for really small purchases as the cost of performing an attack will be considerably higher than the reward of stealing the cheap item. Satoshidice doesn't wait for confirms and that appears to be robbed so infrequently that it's still profitable. Look at all the shops in the world that take credit cards, and all the ebay sellers that take paypal, they are still profitable despite chargebacks.
If you want a way to perform small transactions try this: Settings -> Options... -> Display -> Set 'Unit to show amounts in:' to mBTC.
I'll be putting up a couple little ideas of mine here http://litecoin.co/ to test out within the coming weeks. Keep an eye on it.
No offense, but what exactly is that cyborg caterpillar supposed to do ?
Everybody loves a cyborg caterpillar!
I'll be putting up a couple little ideas of mine here http://litecoin.co/ to test out within the coming weeks. Keep an eye on it.
No offense, but what exactly is that cyborg caterpillar supposed to do ?
I'll be putting up a couple little ideas of mine here http://litecoin.co/ to test out within the coming weeks. Keep an eye on it.
I have to wonder why people are asking or hoping for LTC to serve some purpose different from BTC when they are exactly the same thing with a few inconsequential tweaks. There is nothing about LTC that makes it better for micropayments, they use the exact same protocol.
Here's something that you may want to try....
With someone else holding a GUN TO YOUR HEAD (preferably someone who suffers from Parkinson's), you send them a 'Ransom' of sorts, to release you from the precarious situation....and will be freed upon 6 confirmations of your payment being received by the gunman.
NOW. if it was my head about to be blown off, I surely wouldn't want to stick around for an hour+ OR LONGER (all the while, GUN TO HEAD, FINGER ON TRIGGER...very shaky hands etc.) waiting for those BTC confirmations to come through.
.....just a thought.
So, litecoin is the coin for pathetic Bauer-style showdowns ?
Here's something that you may want to try....
With someone else holding a GUN TO YOUR HEAD (preferably someone who suffers from Parkinson's), you send them a 'Ransom' of sorts, to release you from the precarious situation....and will be freed upon 6 confirmations of your payment being received by the gunman.
With someone else holding a GUN TO YOUR HEAD (preferably someone who suffers from Parkinson's), you send them a 'Ransom' of sorts, to release you from the precarious situation....and will be freed upon 6 confirmations of your payment being received by the gunman.
So, not only does the gunman want your BTC, but this gunman must be well aware of the danger of you, while a gun is being held to your head, being able to 51% attack the network and reverse the transaction you are about to send right in front of him because that risk is far greater than that of someone else stumbling upon the scene for an hour or so.
Quote
NOW. if it was my head about to be blown off, I surely wouldn't want to stick around for an hour+ OR LONGER (all the while, GUN TO HEAD, FINGER ON TRIGGER...very shaky hands etc.) waiting for those BTC confirmations to come through.
.....just a thought.
.....just a thought.
I'm still waiting for the miraculous proof on how assuming equal network power that 4x LTC confirms > 1x BTC, or 24x > 6x in the case of an hour. Sounds like you just want to spew litecoin homerisms just like any bitcoiner would do.
I have to wonder why people are asking or hoping for LTC to serve some purpose different from BTC when they are exactly the same thing with a few inconsequential tweaks. There is nothing about LTC that makes it better for micropayments, they use the exact same protocol.
Here's something that you may want to try....
With someone else holding a GUN TO YOUR HEAD (preferably someone who suffers from Parkinson's), you send them a 'Ransom' of sorts, to release you from the precarious situation....and will be freed upon 6 confirmations of your payment being received by the gunman.
NOW. if it was my head about to be blown off, I surely wouldn't want to stick around for an hour+ OR LONGER (all the while, GUN TO HEAD, FINGER ON TRIGGER...very shaky hands etc.) waiting for those BTC confirmations to come through.
.....just a thought.
The theory seems to be that it makes a better "freebie" to "give" to gamers because their GPUs won't have to compete with FPGAs and ASICs, thus that they might be useful as a kind of "loyalty points" system for games.
Thus far though namecoin, devcoin. groupcoin, ixcoin and i0coin seem to be more popular with gamers, maybe because they do not require running separate mining expenses than one already pays to mine bitcoin.
-MarkM-
Thus far though namecoin, devcoin. groupcoin, ixcoin and i0coin seem to be more popular with gamers, maybe because they do not require running separate mining expenses than one already pays to mine bitcoin.
-MarkM-
I have to wonder why people are asking or hoping for LTC to serve some purpose different from BTC when they are exactly the same thing with a few inconsequential tweaks. There is nothing about LTC that makes it better for micropayments, they use the exact same protocol.
There is another discussion going on elsewhere in economics indicating that BTC is probably not ideal as a micropayment system and many of the arguments against them not being suitable for micropayments have merit. It's a good read here.
https://bitcointalksearch.org/topic/is-it-possible-that-bitcoin-will-become-unaffordable-to-use-for-micropayments-95218
LTC positioned as just that, a micropayment system with development for exactly that purpose may be the niche it fills. get wallets than run on every cell phone so you can buy a can of sugar water with it and that might be where it goes. Lt BTC store wealth.
https://bitcointalksearch.org/topic/is-it-possible-that-bitcoin-will-become-unaffordable-to-use-for-micropayments-95218
LTC positioned as just that, a micropayment system with development for exactly that purpose may be the niche it fills. get wallets than run on every cell phone so you can buy a can of sugar water with it and that might be where it goes. Lt BTC store wealth.
Litecoin needs more exchanges and liquidity to fulfill its promise to be a fantastic compliment to Bitcoin.
Right now it seems like a really good solution in search of a problem to solve.
People don't know how it fits into our monetary ecosystem.
Gold is the money of kings.
Silver is the money of gentlemen.
Copper is the money of peasants.
Debt is the money of slaves.
Bitcoin is the money of pirates.
Litecoin is the money of...err...umm...? Drama? Nerds? Anon?
I'm leaning towards the bitcoin:gold::litecoin:silver syllogism. LTC can be used for quick, small transactions while BTC stores wealth.
Hold gold, trade silver. Hold BTC, trade LTC. But that remains to be seen. Can't wait to find out!
Right now it seems like a really good solution in search of a problem to solve.
People don't know how it fits into our monetary ecosystem.
Gold is the money of kings.
Silver is the money of gentlemen.
Copper is the money of peasants.
Debt is the money of slaves.
Bitcoin is the money of pirates.
Litecoin is the money of...err...umm...? Drama? Nerds? Anon?
I'm leaning towards the bitcoin:gold::litecoin:silver syllogism. LTC can be used for quick, small transactions while BTC stores wealth.
Hold gold, trade silver. Hold BTC, trade LTC. But that remains to be seen. Can't wait to find out!
A busy forum with not so pussy moderators.
Someone (coblee) should make one so we don't post in this place anymore.
Someone (coblee) should make one so we don't post in this place anymore.
A new forum popped-up, but it's not really succesful... LOL
Shall I try to make one?
No, it won't work if it's not coblee that create it.
A busy forum with not so pussy moderators.
Someone (coblee) should make one so we don't post in this place anymore.
Someone (coblee) should make one so we don't post in this place anymore.
A new forum popped-up, but it's not really succesful... LOL
Shall I try to make one?
A busy forum with not so pussy moderators.
Someone (coblee) should make one so we don't post in this place anymore.
Someone (coblee) should make one so we don't post in this place anymore.
BTW I am not saying Litecoin is bad or not bad. I am saying that it is not inspiring.
Please define "inspiring".
A Silk Road. (Not that I condone this type of activity.)
I don't think Bitcoin would be where it's at right now had SR not happened.
I don't think Bitcoin would be where it's at right now had SR not happened.
gonna have to agree with this
A Silk Road. (Not that I condone this type of activity.)
I don't think Bitcoin would be where it's at right now had SR not happened.
I don't think Bitcoin would be where it's at right now had SR not happened.
BTW I am not saying Litecoin is bad or not bad. I am saying that it is not inspiring.
someone who sells goods and services for LTC
Everything else is fun but at some point, completely useless. You can build huge highways for cars but if there are no cars, its all useless.
Goods and services for LTC is the key!
Everything else is fun but at some point, completely useless. You can build huge highways for cars but if there are no cars, its all useless.
Goods and services for LTC is the key!
this!!
Jump to: