Author Topic: Why isn't LTC interesting?  (Read 5705 times)

Offline treasure_finder

  • Litecoin Association Member
  • Sr. Member
  • ***
  • Posts: 537
Re: Why isn't LTC interesting?
« Reply #45 on: January 13, 2016, 06:04:43 PM »
From the above link:

Quote
As average people, we do not have the financial resources to influence how bitcoin is developed. However, there is one action we can take that does give us a reasonable chance of influencing the adoption of cryptocurrency: to leave bitcoin behind and focus our time and money on litecoin - an API-compatible coin that is ready to upgrade on Charlie Lee's word. Last week, Lee said that he was thinking about the BIP101/4 proposal, and I volunteered to implement it once he responds. At this point, I do not see any purpose in continuing to participate in the futile debate about bitcoin's future, which has been deadlocked by moneyed interests. Even the Litecoin Association functions far more effectively than its bitcoin counterpart. Instead of wasting my time with bitcoin, I purchased litecoins and plan to begin assisting the litecoin community in attempting to overtake bitcoin, whether it be through core development, periphery services, or marketing. Unless there is an unforeseen change to the present state of bitcoin, I won't be devoting any more of my time to bitcoin and will no longer be purchasing it or holding my profits in it.

Imagine if instead of continuing to argue with theymos about censorship, everyone instead focuses their efforts on convincing one person to switch to litecoin instead, or by porting open-source bitcoin wallets and websites to litecoin. Our time in bitcoin is not being spent effectively. Stop wasting your time trying to convince people in forums and let's take action. This is a people problem, so the only solution is to go around the bad people. Right now, there is no concrete step an average user can take to force change. Let's put our efforts into creating a solution where the free market can exercise its vote.

Let there be two coins, one of which is managed by reasonable people and one of which is deadlocked by corrupt people using unethical tactics. Give people a real choice, and let's see which one they support. I'm confident in that outcome, which is why I hope that people will join me and agree that moving on is a much more effective way to create change.

The main problem I see in this analysis is that Bitcoin has a tremendous first mover advantage in the cryptocurrency world.  So much time and so many resources have been spent building this first coin, that the cost (in time, materials, infrastructure, etc) to move a critical mass to another coin probably can't happen.  Unless something catastrophic happens in the BTC economy, I don't see it ever happening.

Offline Sukarti

  • Hardcore Member
  • *****
  • Posts: 3418
Re: Why isn't LTC interesting?
« Reply #46 on: January 13, 2016, 06:30:50 PM »
From the above link:

Quote
As average people, we do not have the financial resources to influence how bitcoin is developed. However, there is one action we can take that does give us a reasonable chance of influencing the adoption of cryptocurrency: to leave bitcoin behind and focus our time and money on litecoin - an API-compatible coin that is ready to upgrade on Charlie Lee's word. Last week, Lee said that he was thinking about the BIP101/4 proposal, and I volunteered to implement it once he responds. At this point, I do not see any purpose in continuing to participate in the futile debate about bitcoin's future, which has been deadlocked by moneyed interests. Even the Litecoin Association functions far more effectively than its bitcoin counterpart. Instead of wasting my time with bitcoin, I purchased litecoins and plan to begin assisting the litecoin community in attempting to overtake bitcoin, whether it be through core development, periphery services, or marketing. Unless there is an unforeseen change to the present state of bitcoin, I won't be devoting any more of my time to bitcoin and will no longer be purchasing it or holding my profits in it.

Imagine if instead of continuing to argue with theymos about censorship, everyone instead focuses their efforts on convincing one person to switch to litecoin instead, or by porting open-source bitcoin wallets and websites to litecoin. Our time in bitcoin is not being spent effectively. Stop wasting your time trying to convince people in forums and let's take action. This is a people problem, so the only solution is to go around the bad people. Right now, there is no concrete step an average user can take to force change. Let's put our efforts into creating a solution where the free market can exercise its vote.

Let there be two coins, one of which is managed by reasonable people and one of which is deadlocked by corrupt people using unethical tactics. Give people a real choice, and let's see which one they support. I'm confident in that outcome, which is why I hope that people will join me and agree that moving on is a much more effective way to create change.

The main problem I see in this analysis is that Bitcoin has a tremendous first mover advantage in the cryptocurrency world.  So much time and so many resources have been spent building this first coin, that the cost (in time, materials, infrastructure, etc) to move a critical mass to another coin probably can't happen.  Unless something catastrophic happens in the BTC economy, I don't see it ever happening.

The cost to move should be minimal given the immense similarity between the coins and code base.

Although I agree there are huge investments(More than 50x in terms of market cap) into BTC, all it would take is a few of the big players to get legitimately behind LTC to tip the scales immensely.

Just 5% of bitcoins marketcap would 3x litecoins marketcap.

It's possible and the greater the rift in bitcoin, the more likely it becomes.

One more reason why choice is always a good thing!

Offline Rockyroad

  • Sr. Member
  • ****
  • Posts: 725
Re: Why isn't LTC interesting?
« Reply #47 on: January 15, 2016, 02:56:48 AM »
You are projecting here. Just because you are hoping for a pump so you can sell it does not follow that everyone who holds Litecoins will.

Fuck your projecting. You didn't even read what I said.

I BELIEVED. I didn't sell for FOUR MONTHS after the dump because that is how much I believed in Litecoin as a value holding proposition. Litecoin FUCKS people who believe and rewards people who dump. I finally dumped at .01, and NEVER to go back.

I looked for value in Litecoin. And Charlie, and a bunch of you, were teaching it. But it is BULLSHIT.

The value in Litecoin is one thing only: to take people's bitcoins who make the mistake to believe in Litecoin.

I hope Litecoin dies, and never does this to another generation of new buyers.

It's just plain nasty.

Sounds like someone has had too many drinks.

Offline Rockyroad

  • Sr. Member
  • ****
  • Posts: 725
Re: Why isn't LTC interesting?
« Reply #48 on: January 15, 2016, 02:58:15 AM »
From the above link:

Quote
As average people, we do not have the financial resources to influence how bitcoin is developed. However, there is one action we can take that does give us a reasonable chance of influencing the adoption of cryptocurrency: to leave bitcoin behind and focus our time and money on litecoin - an API-compatible coin that is ready to upgrade on Charlie Lee's word. Last week, Lee said that he was thinking about the BIP101/4 proposal, and I volunteered to implement it once he responds. At this point, I do not see any purpose in continuing to participate in the futile debate about bitcoin's future, which has been deadlocked by moneyed interests. Even the Litecoin Association functions far more effectively than its bitcoin counterpart. Instead of wasting my time with bitcoin, I purchased litecoins and plan to begin assisting the litecoin community in attempting to overtake bitcoin, whether it be through core development, periphery services, or marketing. Unless there is an unforeseen change to the present state of bitcoin, I won't be devoting any more of my time to bitcoin and will no longer be purchasing it or holding my profits in it.

Imagine if instead of continuing to argue with theymos about censorship, everyone instead focuses their efforts on convincing one person to switch to litecoin instead, or by porting open-source bitcoin wallets and websites to litecoin. Our time in bitcoin is not being spent effectively. Stop wasting your time trying to convince people in forums and let's take action. This is a people problem, so the only solution is to go around the bad people. Right now, there is no concrete step an average user can take to force change. Let's put our efforts into creating a solution where the free market can exercise its vote.

Let there be two coins, one of which is managed by reasonable people and one of which is deadlocked by corrupt people using unethical tactics. Give people a real choice, and let's see which one they support. I'm confident in that outcome, which is why I hope that people will join me and agree that moving on is a much more effective way to create change.

The main problem I see in this analysis is that Bitcoin has a tremendous first mover advantage in the cryptocurrency world.  So much time and so many resources have been spent building this first coin, that the cost (in time, materials, infrastructure, etc) to move a critical mass to another coin probably can't happen.  Unless something catastrophic happens in the BTC economy, I don't see it ever happening.

Sounds like you have abandoned Litecoin and are mining/buying/holding Bitcoin.  Why are you a Litecoin Association Member?

Offline Xardas

  • Elite Member
  • ****
  • Posts: 1398
Re: Why isn't LTC interesting?
« Reply #49 on: January 15, 2016, 04:21:46 AM »
From the above link:

Quote
As average people, we do not have the financial resources to influence how bitcoin is developed. However, there is one action we can take that does give us a reasonable chance of influencing the adoption of cryptocurrency: to leave bitcoin behind and focus our time and money on litecoin - an API-compatible coin that is ready to upgrade on Charlie Lee's word. Last week, Lee said that he was thinking about the BIP101/4 proposal, and I volunteered to implement it once he responds. At this point, I do not see any purpose in continuing to participate in the futile debate about bitcoin's future, which has been deadlocked by moneyed interests. Even the Litecoin Association functions far more effectively than its bitcoin counterpart. Instead of wasting my time with bitcoin, I purchased litecoins and plan to begin assisting the litecoin community in attempting to overtake bitcoin, whether it be through core development, periphery services, or marketing. Unless there is an unforeseen change to the present state of bitcoin, I won't be devoting any more of my time to bitcoin and will no longer be purchasing it or holding my profits in it.

Imagine if instead of continuing to argue with theymos about censorship, everyone instead focuses their efforts on convincing one person to switch to litecoin instead, or by porting open-source bitcoin wallets and websites to litecoin. Our time in bitcoin is not being spent effectively. Stop wasting your time trying to convince people in forums and let's take action. This is a people problem, so the only solution is to go around the bad people. Right now, there is no concrete step an average user can take to force change. Let's put our efforts into creating a solution where the free market can exercise its vote.

Let there be two coins, one of which is managed by reasonable people and one of which is deadlocked by corrupt people using unethical tactics. Give people a real choice, and let's see which one they support. I'm confident in that outcome, which is why I hope that people will join me and agree that moving on is a much more effective way to create change.
  Unless something catastrophic happens in the BTC economy, I don't see it ever happening.
In case you are unaware of it, a catastrophe is precisely what is occurring with Bitcoin right now. The ecosystem is being controlled by a few people whose interests are not in making BTC a globally accepted payment system for daily transactions. Unless Satoshi steps in, BTC is fucked. theymos is censoring anything that would hurt his personal interests, chinese miners(who control most of the hash) are vehemently opposed to a larger blocksize since it would hurt their pockets, and the average btc user isn't being told the truth.......plus the general public is only hearing censored information and have barely heard of Bitcoin. The path BTC is on is one of utter failure.