Author Topic: [STORIES] How did you come to find litecoin/bitcoin?  (Read 63268 times)

Offline danielauhlig

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #15 on: March 13, 2013, 11:10:06 PM »
just bought my first bitcoin and litecoins. First heard Max Keiser talking about Bitcoins middle of 2012. Tried to download the wallet got fustrated with the process and didnt really understand what i was dealing with, Kick myself now for not showing a little more patience. Still a bit concerned about the safety of the wallets on the computer as well as having any substantial amounts on an exchange. Traded for the first time on BTC-e yesterday and then the site without notification decided to do a maintance. Very fustrating and thought there goes all my money. Anyway its back and I have removed all funds of it untill I decide to trade again. While I am here could anyone tell me what unconfimed funds in my litecoin wallet means?

Offline LiteCoinsLOL

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #16 on: March 14, 2013, 02:27:55 AM »
BitCoin.org Had made some BTC playing Poker when price was $5 sold 2/3 @$17 and still have remaining. Decided 2 days ago to buy 265LTC @ .25 I'm long and buying up to 1000 before it hits $1.

Offline coblee

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #17 on: March 14, 2013, 06:56:21 PM »
I first heard about Bitcoin from the Wired article: http://www.wired.com/threatlevel/2011/06/silkroad/
I then proceeded to spend the next month reading up on everything Bitcoin. I knew then that cryptocurrency is the future of money. And I bought my first Bitcoin at $30.

My first experience with alternate cryptocurrency is with Ixcoin. Although it seemed more like a pump and dump as Nasakioto premined 580k coins. It also competed directly with Bitcoin, so people will only mine it if it was profitable. Then i0coin came along. It was basically ixcoin without the premine. I found it a noble attempt but the name was horrible and there was little support behind it. Then SolidCoin came along and it brought quick transaction times. But the developer CoinHunter/RealSolid had complete control of the blockchain and acts like a dictator, and basically ran the coin into the ground. Then Lolcust came out with Tenebrix. It was the first scrypt-based coin but it had 7.7 million pre-mined coins. So it quickly became clear that the coin was going no where with such a huge premine. I helped the initiative to get Fairbrix (Tenebrix with no premine) going, but it stumbled out the gate due to a bug in the Tenebrix code.

I then stepped back and decided that I could do a better job and then, with some help form the community, designed a coin that combined all the good things (and none of the bad things) of those previous alt coins:
  • Good and memorable name - Litecoin
  • Faster transactions - 2.5 minutes
  • Faster difficulty adjustment time - 3.5 days
  • Higher max coin limit - 84 million
  • Hash algorithm (scrypt) that makes it better mined on a CPU (at the time)
  • A different hash algorithm so that people don't jump back and forth from bitcoin, which causes roller coaster difficulty
  • A fair release where everyone has a chance to start mining from the start
  • No premine... well just the first 2 blocks were mined to make sure everything works
  • And everything else stick to what Bitcoin is good at

I coded this up and launched Litecoin on October 12, 2011. The rest is history.
« Last Edit: March 14, 2013, 06:58:01 PM by coblee »

Offline wizzardTim

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #18 on: March 14, 2013, 09:26:37 PM »
just bought my first bitcoin and litecoins. First heard Max Keiser talking about Bitcoins middle of 2012. Tried to download the wallet got fustrated with the process and didnt really understand what i was dealing with, Kick myself now for not showing a little more patience. Still a bit concerned about the safety of the wallets on the computer as well as having any substantial amounts on an exchange. Traded for the first time on BTC-e yesterday and then the site without notification decided to do a maintance. Very fustrating and thought there goes all my money. Anyway its back and I have removed all funds of it untill I decide to trade again. While I am here could anyone tell me what unconfimed funds in my litecoin wallet means?

Hi,
Unconfirmed funds means that you should wait until the wallet downloads all the block chain, including the one that has your transaction. So just wait and it will be confirmed.

Offline nreiter

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #19 on: March 30, 2013, 07:10:35 PM »
I had heard about BitCoin on Steve Gibson's and Leo LaPort's Security Know! podcast and LiteCoin on the most recent SN podcast from 3/27.  I've just installed the software and it's syncing with the network, so I can hopefully start mining soon.

Offline nodroids

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #20 on: March 30, 2013, 07:33:17 PM »
A friend has been really excited about BTC for a long time, mostly from a political stand point - "There has to be accountability for all this fraud!". I was helping him analyze BTC as a market and he has done very well by my analysis. He got me in to my own coin just in time for this big renewal of the exponential rise.

I personally hate speculation though, as good as the broad fundamentals of BTC are, the technicals are shit. However, litecoin serves a HUGE purpose and has a couple of more purposes to serve in the future that aren't appreciated yet. I like it a lot and am even considering mining it, something I've not really considered for BTC. (I told my friend to cancel his Avalon order in the fall of 2012 and instead buy at $10 BTC, he did and is very happy about it).

Anyways, what his BTC enthusiasm led me to is an understanding of how much I NEED LTC and so that's why I'm on here.
thanks,
g.

Offline licrophonefiend

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #21 on: April 03, 2013, 04:29:41 PM »
Saw LTC mentioned in a 4chan thread about BTC, which a friend has been begging me to get involved in for some time now.

Needless to say i feel bretty bad after watching BTC just pass the 100 USD mark

Offline bagitute

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #22 on: April 04, 2013, 06:55:45 PM »
BitCoin.org Had made some BTC playing Poker when price was $5 sold 2/3 @$17 and still have remaining. Decided 2 days ago to buy 265LTC @ .25 I'm long and buying up to 1000 before it hits $1.
At what Casino did you play?

I personally started researching LTC after the BTC boom!

Offline tdizzle13

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #23 on: April 05, 2013, 11:26:02 PM »
Hey I'm Tyler...I'm totally broke...if you could donate some LTCs or BTCs it would be greatly appreciated. I want to buy and sell on BTC-e.

Offline ratm69

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #24 on: April 06, 2013, 08:57:15 AM »
I first learned of bitcoins back around September/October of 2012 there was an article that was in the headlines. "Greece merchants nowaccepting bitcoins" or something to that affect. Becasue of there economy some merchants choose to start accepting bitcoins.

So I said to myself what in the hell is a bitcoin. So from there just started researching it and ended up on bitcointalk.org. Then every available waking minute was being spent on that site until I fully understood what a bitcoin was and all of the in's and out's. I purchased my first bitcoins in Decemeber at around $16.00. (Thought I was paying to much at the time)
 
Of course spending as much time on there as I was I was also learning of Litecoin. Didn't really think to much about it because the price was not very attractive compared to bitcoin. But I have been keeping my eye on it for a while now. So here I am and I'm happy to be here. I'm looking forward to building my first Litecoin mining rig in the very near future (hopefully next week or so). Already got everything picked out now just waiting on funds to arrive.

Offline Malak

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #25 on: April 09, 2013, 06:14:32 PM »
Someone mentioned investing in bitcoins or as method of moving money out of the country if you had to "skeedaddle" quickly. This led to mention of mining, which I thought meant hacking the system originally. lol

Offline Datalore

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #26 on: April 10, 2013, 05:25:28 PM »
First heard about Bitcoin around August 2012, read an article on a news web-site, the increased meadia exposure lead to me begin mining around Nov 2012, and until now with little or no input on forums etc instead just reading and learning from them.

Offline shyliar

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #27 on: April 11, 2013, 07:54:07 PM »
Well I'll start this story out saying I'm a middle aged man. That might seem irrelevant now; but as my story progresses you'll understand. I'm also an avid reader, a little pissed off at the banking system and have a technical back ground. My first program involved about 150 punch cards. All of these facts have resulted in a system now heating my basement and drawing 22 Amps in total.

Last summer I read my first article about Bitcoin. The article focused on three different aspects of Bitcoin: mining, Silk Road and the tor network. The part about the tor network interested me and I downloaded it immediately. Then I visited the Silk Road site. Silk Road convinced me of the fact that Bitcoin was really a form of money. In the neighborhood I grew up in if the drug dealer didn't get his cash someone always ended up hurt or worse. If the drug dealers considered this money then it was.

I did all the usual research and ended up pre-ordering a BFL single. As you all know I'm still waiting. It was the waiting though that caused me to look towards Litecoin. I guess I just wanted something to do and I built my first rig. By the time I was finished I was hashing away at over 6000kh/s. I tend to go over board when I get involved in things.

Well I've gone and got side tracked. I started this story by saying I was a middle aged man. Like all middle aged men (although I'm still fit and function well in all aspects) I'm slowing down. Things are not quite the same any more. It's been a long time since I could bench 300 and now struggle with benching my own body weight. When I went to Silk Road I noticed that they sold Viagra at a  low price. That very day I opened an account on a Bitcoin exchange and purchased 6 Bitcoins. I went to Silk Road and I made my order 40 100mg tabs (and I still had Bitcoins left in my wallet). I waited in anticipation for these small blue pills to show up and then they did. I couldn't wait to find out if they were real.....and they were. I was restored to my former glory in both stiffness and magnitude of size.

So that is the real story I was led to all of this by my dick. I think that's happened multiple other times in my life; but, this is the most profitable so far.
« Last Edit: April 15, 2013, 01:55:59 PM by shyliar »

Offline The 4ner

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #28 on: April 12, 2013, 08:36:49 PM »
I started using BTC and about 2 weeks later found out that it wasn't the only cryto-currency being used. Plus I would notice a lot of Bitcoin forum members with "Donate LTC: (address)" signatures. So, that sparked curiosity and well, here I am now on the Litecoin forum typing my first reply to a post.

Offline Otoh

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Re: [STORIES] How did you come to find litecoin/bitcoin?
« Reply #29 on: April 13, 2013, 05:09:55 PM »
I think that they found me, first heard of bitcoin via the Wired article on TSR in June 2011 & about that may have even been from something else like Fark or main stream media referring to it, I bought my first Casascius coins in July 2011 via eBay & some regular ones via Britcoin.co.uk & Mt. Gox in August 2011 & have been involved ever since.

I was aware of litecoin for a long time before really looking in to it, mostly because of the bias found on the btctalk forum, but I did finally & obtained my first coins in July 2012, this was mostly due to PMs with Chaang Noi (Goat) (Putincoin) saying how much he rated it's prospects so I owe him &/or the charities that he supports a lot of thanks.
« Last Edit: April 13, 2013, 06:16:23 PM by Otoh »