Talk:Litecoin

There is nothing on this discussion page about this article at the moment. Use it. Reasonable informed edits will be allowed through until a consensus is reached and the page unlocked. That is comments that are neither pro or anti litecoin, but are neutral and objective. Genjix 10:01, 28 November 2011 (GMT)

Errors

"Designed to be inefficient on all common computer components" -- this is bogus and false. Please edit and replace "all common computer components" with "both CPUs and GPUs".

Personally, I think the whole scypt-chain thing is a covert scam by people who (like me) know how to build fast custom scypt-hardware using stuff you can buy from [DigiKey http://www.digikey.com/]. So, let's stick to the facts: scypt is slow on CPUs and GPUs, but nobody has proven that it is slow on all commodity computer components. I expect that if there were enough money to be made, somebody would produce a counterexample proving that it is not slow on all commodity computer components. My threshhold for doing that is pretty high right now, but if I had more free time...

Eldentyrell 03:19, 14 January 2012 (GMT)

Siliness

"Considered silver to Bitcoin's gold"... this is a content-free sentence. In what sense is it "silver"? Maybe it would be better to simply "inline" the analogy and replace "silver to Bitcoin's gold" with whatever that analogy is trying to mean (I have no idea what that is...)?

Also, one of the main differences between silver and gold is that most of the demand for silver is industrial demand (photography, solar panels, etc) while most of the demand for gold is monetary. I consider jewelry to be "wearable money", and the use of gold in the semiconductor industry, while pervasive, accounts for incredibly tiny quantities). I have no idea what the "industrial demand" for litecoins is. This is a really misleading analogy.

Eldentyrell 03:19, 14 January 2012 (GMT)

Objectivity please, missing citation

There are two criticisms in the article, that I believe are not objective:

• Mining Monopoly - while I heard claims that Litecoin is volnurable to botnets, I never heard anything about a single monopoloy, or anyone possibly building a "single piece of specialized/custom hardware to overtake all the commodity mining systems combined". Can we have a citation for this, or remove it if no citation is found?
• Pyramid Scheme - The article states, as if it is a fact, that "Litecoin effectively functions as a pyramid scheme". This is hardly objective. Litecoin could possibly become say 1% of the total Bitcoin market, and could indeed function as "silver". The same arguments in FAQ#Is Bitcoin a Ponzi_scheme apply here.

Can we fix this?

Ripper234 13:43, 13 January 2012 (GMT)