Litecoin Working On Updates
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There is a difference between updating our coin and updates to the cryptocoin concept.
The purpose of everyone updating to similar versions is that without faith in the cryptocoin concept, BTC, LTC, FTC, WTFC are just isolated projects with divided communities, and that means divided development resources, crippled ability to respond to bugs, delayed readiness for attacks that affect the whole community, incessant infighting.
If a coin fails to protect the time and effort of the users to a reasonable extent, the whole category of ideas is tainted.
What sets us apart is not our wallet software. IT should line up with the others, with the exception of features unique to our coin. What sets us apart is our ability to get people where they need to go. We are providing a service. This is not a race between programmers and math geeks. This is an honest contest between solution engineers (*marketing* seizure, stroke, vomit, choke *marketing*).
:)
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[quote name=“Bushstar” post=“6661” timestamp=“1369569362”]
I just spotted this over at BitcoinTalk.https://bitcointalk.org/index.php?topic=215773.0
Coblee is asking for donations to get the Litecoin code base up to 0.8.x level. I will approach him and see if we can contribute towards the project and if there can be any collaboration between them and us.
We can always follow their work over at GitHub but I think it would be much better if we can get involved in the process.
[/quote]Great idea! I think the more our coins work together the better for both of us.
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My 2FTCs:
“Good artists copy, great artists steal. And we have always been shameless about stealing great ideas”
P.Picasso
I think it is a good idea to look at their work. But I think as community we have to create our own coin by always innovating -
We are not creating a coin. We are solving problems and making life easier. Let people use our code, we’ll use theirs, no big. They can’t copy pure style and dedication.
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[quote name=“zerodrama” post=“7241” timestamp=“1369686521”]
We are not creating a coin. We are solving problems and making life easier. Let people use our code, we’ll use theirs, no big. They can’t copy pure style and dedication.
[/quote]Agreed. How we decide to solve the problems will be unique. I look forward to experimenting with your test coin down the road, that’s a big step for this community.
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[quote name=“zerodrama” post=“6916” timestamp=“1369626150”]
The purpose of everyone updating to similar versions is that without faith in the cryptocoin concept, BTC, LTC, FTC, WTFC are just isolated projects
[/quote]How do I mine WTFCoin? ;)
[b]On a serious note : [/b]
Last night I had several lengthy discussions on BTC, LTC, FTC with various individuals and a [b]BIG[/b] misconception I came across was that apparently most everyone thinks Litecoin was the first scrypt based coin. Sorry, but that’s incorrect. Not only that, but some may be surprised how much [i]litecoin innovation[/i] pre-existed litecoin. The devs were completely open about it, the fanboys just didn’t want to hear it I guess.[b]Litecoin[/b]
Litecoin is the result of some of us who joined together on IRC in an effort to create a real alternative currency similar to Bitcoin. We wanted to make a coin that is silver to Bitcoin’s gold. Various alternative currencies have come and gone. Some brought innovation, but they all had problems.ixcoin - Nasakioto premined 580k coins. Seemed like a pump and dump. Competed with Bitcoin for GPU resources - Dead (~2 gh/s)
i0coin - Basically ixcoin without the premine. Not much support was given to this coin after it was released. - Dead (~5 gh/s)
SolidCoin - Innovative quick transaction times. Appears to have been run aground by CoinHunter, its creator, due to insecure changes and immature forum presence. - Dead, shutdown by CoinHunter
GeistGeld - Lolcust premined 7.7 million coins. 15 second block time is probably a bit extreme. - Alive, but limping (~15 gh/s)
Tenebrix - Lolcust premined 7.7 million coins. CPU proof of work using scrypt is very innovative. Price doing fairly well on btc-e.com. - Alive (~0.003 gh/s)
Fairbrix - Basically Tenebrix without the premine. First launch was crippled due to bad config. Relaunch attacked initially - Doing OK now, but no exchange so far. - Alive, but limping (~0.0001 gh/s)We wanted the best innovations of Bitcoin and these other currencies to create a coin with all of their benefits, but nearly none of their problems.
Proof of Work
[b]We really liked Tenebrix’s Scrypt proof of work.[/b] Using Scrypt allows one to mine Litecoin while also mining Bitcoin. We humbly offer a big thanks to ArtForz for the implementation.
[url=https://bitcointalk.org/index.php?topic=47417.0]https://bitcointalk.org/index.php?topic=47417.0[/url]
So, I’m now [b]a troll[/b] now for speaking truth (except for that one time lol) in the trollbox all night lol. I won’t even get into the Coinotron/Litecoin situation last night, but I will say … I made out like a bandit, simply for mentioning problems with coinotron for a few hours!
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[quote name=“Tuck Fheman” post=“7334” timestamp=“1369710974”]
[quote author=zerodrama link=topic=857.msg6916#msg6916 date=1369626150]The purpose of everyone updating to similar versions is that without faith in the cryptocoin concept, BTC, LTC, FTC, WTFC are just isolated projects
[/quote]How do I mine WTFCoin? ;)
[b]On a serious note : [/b]
Last night I had several lengthy discussions on BTC, LTC, FTC with various individuals and a [b]BIG[/b] misconception I came across was that apparently most everyone thinks Litecoin was the first scrypt based coin. Sorry, but that’s incorrect. Not only that, but some may be surprised how much [i]litecoin innovation[/i] pre-existed litecoin. The devs were completely open about it, the fanboys just didn’t want to hear it I guess.[b]Litecoin[/b]
Litecoin is the result of some of us who joined together on IRC in an effort to create a real alternative currency similar to Bitcoin. We wanted to make a coin that is silver to Bitcoin’s gold. Various alternative currencies have come and gone. Some brought innovation, but they all had problems.ixcoin - Nasakioto premined 580k coins. Seemed like a pump and dump. Competed with Bitcoin for GPU resources - Dead (~2 gh/s)
i0coin - Basically ixcoin without the premine. Not much support was given to this coin after it was released. - Dead (~5 gh/s)
SolidCoin - Innovative quick transaction times. Appears to have been run aground by CoinHunter, its creator, due to insecure changes and immature forum presence. - Dead, shutdown by CoinHunter
GeistGeld - Lolcust premined 7.7 million coins. 15 second block time is probably a bit extreme. - Alive, but limping (~15 gh/s)
Tenebrix - Lolcust premined 7.7 million coins. CPU proof of work using scrypt is very innovative. Price doing fairly well on btc-e.com. - Alive (~0.003 gh/s)
Fairbrix - Basically Tenebrix without the premine. First launch was crippled due to bad config. Relaunch attacked initially - Doing OK now, but no exchange so far. - Alive, but limping (~0.0001 gh/s)We wanted the best innovations of Bitcoin and these other currencies to create a coin with all of their benefits, but nearly none of their problems.
Proof of Work
[b]We really liked Tenebrix’s Scrypt proof of work.[/b] Using Scrypt allows one to mine Litecoin while also mining Bitcoin. We humbly offer a big thanks to ArtForz for the implementation.
[url=https://bitcointalk.org/index.php?topic=47417.0]https://bitcointalk.org/index.php?topic=47417.0[/url]
So, I’m now [b]a troll[/b] now for speaking truth (except for that one time lol) in the trollbox all night lol. I won’t even get into the Coinotron/Litecoin situation last night, but I will say … I made out like a bandit, simply for mentioning problems with coinotron for a few hours!
[/quote]Thank you for bringing this up… sometimes I forget that not everyone knows the history of these coins.
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Do these criticisms sound familiar?
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Re: [ANN] Litecoin - a lite version of Bitcoin. Be ready when is launches!
« Reply #60 on: October 09, 2011, 09:25:27 PM » Reply with quote
Quote from: wknight on October 09, 2011, 09:21:44 PM
Not sure why you are releasing Litecoin… I dont see a difference between this and Fairbrix… sure Fairbrix doesnt have an exchange but either does Litecoin… what makes this different? Last time i checked Fairbrix is doing about 1k bricks a day… so i guess there are still people mining itTwo differences that I like:
1. LiteCoin was pre-announced several days in advance.
2. LiteCoin has a limited supply of coins, and pretty much follows the Bitcoin protocol.Some might find #2 a drawback, but I think it’s a good feature. Let the market speak."
Oh sweet irony. As a community, we offer assistance and we pave our own way.
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Wow check at that wallet http://ltc.block-explorer.com/address/LRNYxwQsHpm2A1VhawrJQti3nUkPN7vtq3
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Just saw this over at weminecrypto’s. I’m not sure but I think it says apparently some clever cookies were able to take advantage of the variable difficulty set the pool?
Anyhow, just thought I’d post incase anyone here can relate anything to the FTC code?
Regards,
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[quote name=“T4rQu1N” post=“7806” timestamp=“1369835224”]
Just saw this over at weminecrypto’s. I’m not sure but I think it says apparently some clever cookies were able to take advantage of the variable difficulty set the pool?Anyhow, just thought I’d post incase anyone here can relate anything to the FTC code?
Regards,
[/quote]That explains the miner Shadow on wemineftc.com with his 100Mhash, yet strangely no blocks found.
