Topic: why mess around with alt coins, litecoin - page 3. (Read 3990 times)
are you gonna cripple the GPU miners? then it's a waste of time. Might as well start a new code that deals with lettters instead of hashes add a few C++ coding to slow the GPUs down i bet? Why won't you just pick up Crosbycoins! they got the graphics made & thread here already.
Right now I see at most 5 or 6 other nodes and basically do nothing but mine using the built in miner. With out some sort of test plan and customized test drivers to exercise the system it seems like not much real world testing takes place. It seems like Bitcoin spent more time in test mode before rolling out.
How have other alt coins been brought down? Is there anyway to simulate on the testnet these attacks or failures? I'm a newbie, I have more questions than answers. Perhaps someone can point me to the appropriate threads. Thanks.
How have other alt coins been brought down? Is there anyway to simulate on the testnet these attacks or failures? I'm a newbie, I have more questions than answers. Perhaps someone can point me to the appropriate threads. Thanks.
I mentioned in my first post that I would follow up on the newbie boards with my experience using Litecoin. I would like to hear from other newbies if they have installed an alt coin system, why they did it and what their experience was.
My primary interest in Litecoin comes from the fact that I don't have the time or money to compete in a GPU arms race. I'd like to be able to mine on the high end CPU system I already have with out feeling it's a complete waste of time.
I also believe that tweaking the main Bitcoin branch in a couple of interesting ways will provide a good experiment of those new ideas. In addition to the proof of work change to favor CPUs, the other major change decreases the transaction time. From what I can tell, there are no major theoretical reasons these changes should not improve on the Bitcoin system; only real world testing can establish if there are unforeseen problems.
If either or both of these changes prove to be useful and not harmful, then I would expect they would at some point find their way into the main Bitcoin branch. Especially if a consensus emerges that the problems they solve are hampering Bitcoins. That is why I like that Litecoins were branched from the main Bitcoin code base. I also like that the creators of Litecoin have not pre-mined and have given a good amount of publicity to their launch. Both of these facts make me believe that they are in it for the good of the system and not as a get-rich-quick scam.
So what am I missing? is there some reason I should ignore all alt coins? is Litecoin in particular a waste of my time to install and run?
My primary interest in Litecoin comes from the fact that I don't have the time or money to compete in a GPU arms race. I'd like to be able to mine on the high end CPU system I already have with out feeling it's a complete waste of time.
I also believe that tweaking the main Bitcoin branch in a couple of interesting ways will provide a good experiment of those new ideas. In addition to the proof of work change to favor CPUs, the other major change decreases the transaction time. From what I can tell, there are no major theoretical reasons these changes should not improve on the Bitcoin system; only real world testing can establish if there are unforeseen problems.
If either or both of these changes prove to be useful and not harmful, then I would expect they would at some point find their way into the main Bitcoin branch. Especially if a consensus emerges that the problems they solve are hampering Bitcoins. That is why I like that Litecoins were branched from the main Bitcoin code base. I also like that the creators of Litecoin have not pre-mined and have given a good amount of publicity to their launch. Both of these facts make me believe that they are in it for the good of the system and not as a get-rich-quick scam.
So what am I missing? is there some reason I should ignore all alt coins? is Litecoin in particular a waste of my time to install and run?
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