Why do they hate Litecoin? - page 2.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Blazr on December 10, 2012, 10:50:59 PM

IMO, litecoin is kinda pointless. There are very few services that accept them & it has very few advantages over Bitcoin. 99% of litecoin users are using it as a get-rich-quick scheme by either mining the crap out of it (using GPU's even though its original purpose was to be unprofitable to GPU mine on) or just buying and hoping the value goes up.

This is how BTC started. Let's talk in about 2 years and 10 months when LTC blocks halve.

Blazr

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IMO, litecoin is kinda pointless. There are very few services that accept them & it has very few advantages over Bitcoin. 99% of litecoin users are using it as a get-rich-quick scheme by either mining the crap out of it (using GPU's even though its original purpose was to be unprofitable to GPU mine on) or just buying and hoping the value goes up.

creativex

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http://forum.litecoin.net/index.php

420

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Quote from: Endgame on December 10, 2012, 07:11:02 AM

If a few people want to hate on litecoin for whatever reason, let them. From everything I have seen, even this thread, most bitcoiners actually support litecoin. Of course its difficult to measure the exact level of community support, but at the very least the number of bitcointalk members mining litecoin seems fairly encouraging.

we need a litecoin subforum instead of just having everything in "alternative cryptocurrencies"

meebs

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Quote from: EskimoBob on December 10, 2012, 05:33:52 AM

Quote from: 420 on December 09, 2012, 10:49:39 PM

Quote from: DiCE1904 on December 09, 2012, 10:44:23 PM

Quote from: ?? on ??

Quote from: bitcool on December 08, 2012, 06:47:37 PM

Quote from: sd on December 08, 2012, 06:15:52 PM

1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.

Wrong. I think what you were referring was the block generation rate and total.
The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.

SHA256 used in Bitcoin, Terracoin and few other cryptocoins is property of USA. If only people know what that really means ...

THIS.

US government can claim intellectual property rights to the bitcoin system?!?!?!??!

In cryptography, SHA-2 is a set of cryptographic hash functions (SHA-224, SHA-256, SHA-384, SHA-512) designed by the National Security Agency (NSA) and published in 2001 by the NIST as a U.S. Federal Information Processing Standard. SHA stands for Secure Hash Algorithm.

Also, as somebody else has mentioned, the US gov't has control over the "export" of this, for example it would be illegal to put it in the hands of iranians or what not.

Endgame

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If a few people want to hate on litecoin for whatever reason, let them. From everything I have seen, even this thread, most bitcoiners actually support litecoin. Of course its difficult to measure the exact level of community support, but at the very least the number of bitcointalk members mining litecoin seems fairly encouraging.

EskimoBob

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Quote from: 420 on December 09, 2012, 10:49:39 PM

Quote from: DiCE1904 on December 09, 2012, 10:44:23 PM

Quote from: ?? on ??

Quote from: bitcool on December 08, 2012, 06:47:37 PM

Quote from: sd on December 08, 2012, 06:15:52 PM

1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.

Wrong. I think what you were referring was the block generation rate and total.
The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.

SHA256 used in Bitcoin, Terracoin and few other cryptocoins is property of USA. If only people know what that really means ...

THIS.

US government can claim intellectual property rights to the bitcoin system?!?!?!??!

In cryptography, SHA-2 is a set of cryptographic hash functions (SHA-224, SHA-256, SHA-384, SHA-512) designed by the National Security Agency (NSA) and published in 2001 by the NIST as a U.S. Federal Information Processing Standard. SHA stands for Secure Hash Algorithm.

420

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Quote from: DiCE1904 on December 09, 2012, 10:44:23 PM

Quote from: ?? on ??

Quote from: bitcool on December 08, 2012, 06:47:37 PM

Quote from: sd on December 08, 2012, 06:15:52 PM

1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.

Wrong. I think what you were referring was the block generation rate and total.
The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.

SHA256 used in Bitcoin, Terracoin and few other cryptocoins is property of USA. If only people know what that really means ...

THIS.

US government can claim intellectual property rights to the bitcoin system?!?!?!??!

DiCE1904

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Quote from: ?? on ??

Quote from: bitcool on December 08, 2012, 06:47:37 PM

Quote from: sd on December 08, 2012, 06:15:52 PM

1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.

Wrong. I think what you were referring was the block generation rate and total.
The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.

SHA256 used in Bitcoin, Terracoin and few other cryptocoins is property of USA. If only people know what that really means ...

THIS.

bitcool

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Live and enjoy experiments

Quote from: kalleguld on December 09, 2012, 07:21:14 PM

Didn't you start this topic to hear why people didn't like Litecoin? Now you're effectively telling him to shut up.

I didn't tell him to shut up, what I suggested was to move attention away from the things he hates. It's part of the healing process of a psychological disorder (hate) .

Quote from: kalleguld on December 09, 2012, 07:21:14 PM

Technically, that's a variable. There are several encryption schemes that could be used to make a cryptocurrency. Bitcoin chose one, Litecoin another.

Here is the definition of "variable": http://en.wikipedia.org/wiki/Variable_(computer_science)

In a broader sense, technically the entire human history is just a variable in the grand picture of cosmic evolution Grin

, but I guess we have to stick to the context of sd's first post. Reread it please.

Quote from: kalleguld on December 09, 2012, 07:21:14 PM

Also, you chose to nitpick instead of acknowledging sd's point. I hope you are not representative of the Litecoin community, because you are not doing a good job at that.

Nitpick? There were five paragraphs in sd's "points", and I commented four of them, the only one I left out was:
>> 2) LiteCoin appears to be a cynical attempt to recreate the early days of BitCoin

If he didn't know Litecoin uses a different encryption algorithm, why would I bother commenting?

Quote from: kalleguld on December 09, 2012, 07:21:14 PM

I hope you are not representative of the Litecoin community, because you are not doing a good job at that.

Representative? Thank you for the compliment.

kalleguld

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Quote from: bitcool on December 09, 2012, 03:03:28 PM

You have every rights to stay away from Litecoin if you don't like it, trying to spread your bad feelings toward anything is unnecessary.

Didn't you start this topic to hear why people didn't like Litecoin? Now you're effectively telling him to shut up.

Quote from: bitcool on December 08, 2012, 06:47:37 PM

The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.

Technically, that's a variable. There are several encryption schemes that could be used to make a cryptocurrency. Bitcoin chose one, Litecoin another.
Also, you chose to nitpick instead of acknowledging sd's point. I hope you are not representative of the Litecoin community, because you are not doing a good job at that.

bitcool

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Quote from: sd on December 09, 2012, 02:43:22 PM

You have answered your own question in your own way. 'They' hate LiteCoin because anyone who anyone who isn't a fanboi is a hater. No alternatives exist in your mind.

You have no reason to ask questions if you are certain of the answers. I'm just glad I don't live in your black and white world.

Wrong again. You have every rights to stay away from Litecoin if you don't like it, trying to spread your bad feelings toward anything is unnecessary.

Quote

Questions: Many here either want Litecoin's price to go down or hate it. But why?

For example, after some research I felt I dislike certain aspect of a new alt chain currency; but instead of badmouthing it, I simply chose to ignore it and moved on. The result: a better, happier healthier life.

Why is that so hard?

sd

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Quote from: bitcool on December 08, 2012, 06:47:37 PM

Quote from: sd on December 08, 2012, 06:15:52 PM

Personally I don't hate LiteCoin but ...

Yes you do.

You have answered your own question in your own way. 'They' hate LiteCoin because anyone who anyone who isn't a fanboi is a hater. No alternatives exist in your mind.

You have no reason to ask questions if you are certain of the answers. I'm just glad I don't live in your black and white world.

fancy_pants

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quarkchain.io

Quote from: ?? on ??

Quote from: bitcool on December 08, 2012, 06:47:37 PM

Quote from: sd on December 08, 2012, 06:15:52 PM

1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.

Wrong. I think what you were referring was the block generation rate and total.
The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.

SHA256 used in Bitcoin, Terracoin and few other cryptocoins is property of USA. If only people know what that really means ...

The USA has outlived multiple currencies since its inception - most but not all called the Dollar. Property of the USA does not mean property of the Federal Reserve. I don't think the USA has a dog in this fight.

andrew12

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Quote from: AmDD on December 08, 2012, 05:32:29 PM

I dont really have an opinion on it, but tell me, whats not to hate? Whats so good about it? How is it better than any other coin?

Not being a dick, I would really like to know.

Why would you start out hating something? The reasons Litecoin was created are laid out on the site. Many other coins got 51%'d or just didn't get enough attention. Litecoin was hyped to ensure that it could not be attacked and there would not be any particular person with many Litecoins at the start, unlike other coins that had a massive premine.

live627

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LOL

Nicksasa

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live627

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Quote from: Nicksasa on December 08, 2012, 06:47:26 PM

And what is that variable then according to you're knowledge ? Just curious.

Come again?

bitcool

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Quote from: sd on December 08, 2012, 06:15:52 PM

The question is based on a false assumption and can't be answered truthfully.

What assumption?

Quote from: sd on December 08, 2012, 06:15:52 PM

Personally I don't hate LiteCoin but ...

Yes you do.

Quote from: sd on December 08, 2012, 06:15:52 PM

1) LiteCoin doesn't bring anything new, it's just a recompile of BitCoin with one changed variable.

Wrong. I think what you were referring was the block generation rate and total.
The most significant difference is the encryption (as in cryptocurrency) algorithm. It's not a variable, it's part of the foundation on which a cryptocurrency is built.

Quote from: sd on December 08, 2012, 06:15:52 PM

3) LiteCoin has wicked supporters, particularly those that chat on the btc-e chat box. They tell blatant lies about how LiteCoin will obsolete BitCoin. They try to fool people new to BitCoin into buying or mining LiteCoin. The BitCoin community is full of scammers, the LiteCoin community appears to be worse.

If you still think you are not a Litecoin hater, just count how many derogatory/negative words you've used in one paragraph.
Whenever money is involved, there are always people trying to cheat or steal from you, you just need to be aware of that. I've done many transactions in both BTC and LTC and never got scammed. I've sold quite a few items in LTC, and found the user community mostly trustworthy.

I hope you can have more positive and brighter view of the world around you.

Nicksasa

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And what is that variable then according to you're knowledge ? Just curious.

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