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Litecoin Full Leaked Chat

bitcoins
3 August 2019
C
15:35
Chris πŸ…›
No offense, but that article is so weak. I'd find you hard pressed to get any serious contributions from that. It comes across as desperate by being so vague.

There's zero detail about what's been done and where the money will go. Just comes across as "hey, we don't have much to share, we've kind of given up, please give us some money and maybe we can continue."

K
15:43
KrlMrksπŸ…–
In reply toΒ this message
Agree
15:47
As I understand things are not running smoothly...
C
16:47
Chris πŸ…›
The article should read something like:

This is where we stand so far. These are the hurdles we need to overcome. This is what we think it will take to get there. Here is a realistic timeline. This is what we think it will cost.

16:47
Very precise
16:47
If it's $100k
16:47
Then let us know
F
17:20
Franklyn
I had mentioned this internally. It looks wrong to see us spending multiple six figures yet asking for small donations when it comes to development. Priorities are completely wrong and gives a poor image.
C
19:08
Chris πŸ…›
In reply toΒ this message
What was the response? Seems clear that the partnerships should be secondary.
β€Œ
19:09
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
yeah very weird post
C
19:09
Chris πŸ…›
Development seems like the obvious priority, especially with the confidential transactions news that Charlie announced in February.
19:09
Specifically since his original timeline was 'sometime in 2019.'
β€Œ
19:09
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
Sadly you can't magically turn money into good crypto developers
C
19:12
Chris πŸ…›
Yeah
β€Œ
19:14
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
Should have a candidate ready before explicitly asking for dev donations imo
C
19:18
Chris πŸ…›
Yeah that would be even better
19:18
Just be precise
19:18
Let me know what I'm contributing to
β€Œ
19:18
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
With the monero crowdfunding system recipients have to detail what they're doing, and funds are often even held in escrow and released as milestone payments
C
19:19
Chris πŸ…›
Yeah I like that approach
β€Œ
19:20
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
C
19:20
Chris πŸ…›
Hard for anyone to make a substantial donation without details
19:22
In reply toΒ this message
Yeah that looks legit
19:26
Does someone in here operate the LTC Foundation Twitter?
F
20:03
Franklyn
In reply toΒ this message
Indifference
20:06
I was extremely disappointed to discover that no progress had been made on CT since the announcement, especially when I stand on stage telling everyone it’s happening and we are actively working on it.
20:10
The foundation has opted to put all its efforts behind marketing and spending gross amounts of money flexing partnerships instead of doing the actual work. Something I have warned against.
CL
20:30
Charlie Lee
In reply toΒ this message
Franklyn, please stop. The foundation has not spent any amounts of money on partnerships. Stop creating FUD. I have corrected you time and time again in our private chats. Why are you publicly creating FUD now? I’m extremely disappointed.
F
20:35
Franklyn
It is your money in the foundations name and image.
CL
20:36
Charlie Lee
Every single dime that was spent on partnership came from my own pockets with Xinxi and a few others here (Chris and Teletan) pitching in for the Dolphins partnership. LikeΒ @null22Β said, you can’t create good crypto code by throwing money at it. If I can, I would have.
F
20:36
Franklyn
Nothing changes in private we have the same cycles and arguments. You tell the people here what we have done for development or for profenional level integration of the network
CL
20:37
Charlie Lee
You speak as if we are grossly misusing foundation money. Stop speading FUD
F
20:37
Franklyn
We can hire developers sponsor people to work on the tech who have the skills
20:37
its 100% your money i am advising that it looks bad as we are seen to be doing nothing else
20:38
i have no power over you or Xinxi if you want to throw money at sports games then i wont stop you
20:39
what is the foundation anyway charlie? its you no one else
CL
20:39
Charlie Lee
In reply toΒ this message
if that’s really the case then mind as well pack up and go home
F
20:39
Franklyn
you have the money and the authority, i suggest plans andtry to steer the project to a business side and each time its grassroots but you on top
20:40
Wheres thrasher? have you heard from him since he appears to be ignoring our messages about dev updates
20:43
If we cant fix code issues then why are we begging for money on twitter?
CL
20:47
Charlie Lee
In reply toΒ this message
we’re not begging for money. People have asked how they can contribute money towards coding, so we are providing a way
20:48
If people want to donate, we have a place for them to.
F
20:58
Franklyn
That donation address only exists because i had to have an arguemnt in the slack about how it effects our image to not been seen to focus on development. Read the above messages from those who have contibuted to the foundation. It looks weak, you spend so much on sports and when it comes to this the community are expected to pay.
IG
21:01
Ilir Gashi
In reply toΒ this message
John BMV, do you need to forward anything to him?
CL
21:03
Charlie Lee
In reply toΒ this message
No one said the community is expected to pay. It seems like the expectation is that BECAUSE you fought so hard to put out this donation address. I don’t get it
F
21:07
Franklyn
I never wanted a donation address because of how it effects the foundations image.
CL
21:08
Charlie Lee
In reply toΒ this message
Well, it wasn’t my idea. It came from the community because people want to donate to us. There were a few reddit threads and people wanted us to generate an address.
A
21:09
Aztek_btc
In reply toΒ this message
Yeah I'm the same, we had a donation address forΒ @crypto, after 7 months of not a single tip I took them down
21:09
In reply toΒ this message
I think donating to a team like litecoin is different
21:09
Because they directly benefit
CL
21:14
Charlie Lee
I honestly don’t care about what people think of the foundation. We do our best to help litecoin via development and adoption. We make no promises and don’t owe anyone anything. CT/MW development will come in time. We get most of our developments from Bitcoin. And that’s perfectly fine. Litecoin works today. If we have 0 improvements from now on, it doesn’t diminish the fact that Litecoin works very well as money. I personally think adoption is much more important than core protocol devlopment today. We need more people to know about LTC. We need better and easier to use wallets. We need more merchants accepting LTC. So things like Spedn supporting LTC, partnerships with Dolphins, work on LoafWallet and new lightning wallets is more important than adding fungibility to Litecoin. Yes, fungibility is important as I’ve said in my tweets. But that’s a long term goal. People want an update today because they care about pumping the price. I don’t care about that.
A
21:16
Aztek_btc
In reply toΒ this message
To be honest I've heard so many people not I crypto talking about litecoin, think you guys are doing a dam good job
CL
21:16
Charlie Lee
Litecoin won’t lose because we are slow in getting CT/MW added.
21:17
In reply toΒ this message
And that’s all because of UFC, Dolphins, and other partnerships. Laymen doesn’t understand or care about MimbleWimble. I do and I’m fine if it takes its time.
A
21:18
Aztek_btc
In reply toΒ this message
πŸ‘
@
21:18
@johnkim77 [LTC]
ActuallyΒ @xinxi_wangΒ and I've talked about plans to proceed with CT on PM.

He has a couple options he is thinking about. FYI

β€Œ
21:19
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
There are a lot of people out there fully expecting that CT/MW will suddenly come to Litecoin this year and provide fungibility, so I think you need to make it clear that that's not going to happen.
CL
21:19
Charlie Lee
And everyone should be honest about why they want CT/MW. Ask yourself why. Is it because you think Litecoin needs it OR because you think it can help pump the price to the next ATH?
β€Œ
21:20
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
Because it needs it. I never even use Litecoin anymore because it has no privacy
21:20
and there are already alternatives that do
CL
21:21
Charlie Lee
In reply toΒ this message
I don’t think I’ve ever made any promises and people always have overblown expectations
IG
21:21
Ilir Gashi
In reply toΒ this message
It isnt for Charlie to tell in my opinion, because it may or may not happen. It is decided by a community consensus so Charlie saying it wont happen wont make a difference
21:21
People are expecting things to pump and are clouded by how development works
21:22
It takes time, but I agree that we need to do more to be more transparent
21:22
On research..etc.
CL
21:22
Charlie Lee
People are not stepping up. Everyone is complaining about why no MW news but no one is stepping up.
β€Œ
21:23
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
CL
21:25
Charlie Lee
The honest truth is that no one is interested in working on Litecoin protocol development work. At least no one technically competent. You can’t just throw money at this problem. This is true for Litecoin since the beginning. It has only been me, Warren, and Thrasher.
21:26
In reply toΒ this message
I don’t consider that a promise. I’m just guessing there.
F
21:26
Franklyn
OK so Warren has moved to Blockstream, Thrasher is AWOL and you?
21:27
Lets make the record clear we cant string people along
21:27
Lets sponsor a compotent bitcoin dev?
CL
21:28
Charlie Lee
In reply toΒ this message
I’m spending my time working on adoption for the reasons I mentioned above.
F
21:28
Franklyn
I have suggested Loshan, we can review his work he has been here with me since 2013. he is hihgly skilled and capable aswell as willing
CL
21:29
Charlie Lee
I’ve also tried to find someone else to lead the MW project as I don’t want to be the only person pushing this forward. But not having any success
β€Œ
21:33
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
It set expectations regardless. It's been a long time with no public update so it would be natural for people to expect a lot of progress by now.
CL
21:34
Charlie Lee
In reply toΒ this message
When there’s update, I will post an update. Sorry, but I don’t very much care if people are disappointed if they expect a lot of progress
21:40
People need to stop looking to me to make everything happen. It’s a decentralized currency afterall, right? Or is it?
@
21:46
@johnkim77 [LTC]
Adoption takes just as much energy and money, building a solid community that is proactive in spending and educating IRL takes many hours and sacrifice to accomplish as well. The difference is that many people have stepped up and are showing with their actions but not so much on the dev side.

That being said, if litecoin is to be a decentralized currency charlie should not be leading any projects rn. Someone in the community needs to step up and lead it. The more Charlie's involved the longer it will take for litecoin to become more decentralized.

I think before complaining and highlighting a problem, each one should do their best in finding a solution first.

C
21:49
Chris πŸ…›
Well at least we know where we stand
21:50
Sad to here that's the case
21:50
Hear*
21:51
Was definitely under the assumption that progress was being made
@
21:54
@johnkim77 [LTC]
In reply toΒ this message
Like I said beforeΒ @xinxi_wangΒ and I have discussed options in how to proceed with CT. Maybe others have a different opinion on how fast the progress should be but I don't believe we need to rush anything.

I know for a fact charlie has reached out to several people about this subject already.

C
21:56
Chris πŸ…›
I don't doubt that
CL
21:58
Charlie Lee
In reply toΒ this message
Progress is being made. Just not as fast as people like, I guess.
IG
21:59
Ilir Gashi
I would rather it take long and be polished then we as a community rush it and find many bugs and exploitations after
22:00
Because who knows what will happen, as confidential transactions in any capacity is risky
@
22:02
@johnkim77 [LTC]
22:02
People are donating to the dev fund.
22:02
Btw
IG
22:06
Ilir Gashi
In reply toΒ this message
Adding to this, already 10 transactions
22:06
We have one of the best communities in the space, I dont doubt our abilities one bit πŸ’ͺ
C
22:14
Chris πŸ…›
Agreed
22:15
Still ashame that we don't have as much development as Monero
D
22:17
Damian πŸ…Ÿ
lets hire luke dash jr
22:17
In reply toΒ this message
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4 August 2019
FM
01:18
Finite Maz πŸ…Ÿ
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G
07:07
goodc0re
In reply toΒ this message
I run a LTC lightning node, it's one way to have more privacy while using Litecoin, needs some more adoption though.

btw Charlie, my LTC lightning node hasn't been able to connect to yours, are you no longer running it?

K
09:00
KrlMrksπŸ…–
So what is the point of Litecoin summit then?
09:01
If we have problems with development
IG
09:36
Ilir Gashi
In reply toΒ this message
We don't have any problems with development
09:38
Summit is an annual event run by the Foundation, its summarises progress made over the past year and has many different speakers for blockchain and/or cryptocurrency related issues
09:40
Further info can be found here:Β https://litecoinsummit.org/
09:42
In reply toΒ this message
You can debate whether development is slow but that's separate from having problems in development
K
09:43
KrlMrksπŸ…–
In reply toΒ this message
As I understood we have problems, slow is not an issue in my opinion
IG
09:45
Ilir Gashi
In reply toΒ this message
We dont have any problems, no more so than Bitcoin core development. The benefit of open source is that progress is shared with others in the space. Our strong point is not development but that's fine since of the aforementioned reasoning. Our strong point is adoption and building awareness
T
09:47
TenaciousC πŸ…–
In reply toΒ this message
both to be honest...
Litecoin was the first coin I fell in love with, Litecoin was what brought me into crypto, made me look into mining and from there on look into the tech behind it etc...
I'm talking to people on almost a daily basis about Litecoin and why I think they should hold some next to btc, speed and security of the network being the strongest points.

But next to my love for LTC I also need to live, pay for my daily stuff, make sure the kids have food in their tummy.

I know it's the market and their ain't that much we can do about it but seeing Litecoin full retrace each and every single fucking time against btc is really painful...
We should at least be capable to take 0.02 and stay there, this should be our new floor instead of dumping back to these 0.00 ranges.

People are getting scared to HODL litecoin because of these full retraces, making the adoption a lot harder to succeeed while speculators enjoy to se it fall each time so they can rinse/repeat, each cycle... pump and dump.

Pumps are the best marketing in a way when you think about it, it's when a coin gets pumping msm picks it up and brings it to the masses faster then any expensive campaign can

IG
09:49
Ilir Gashi
In reply toΒ this message
Price pumps are a bad marketing tool and something that we dont use. I'm not going to tell you that price of LTC will skyrocket just so you can buy it
09:50
On the other hand, the fact that LTC has been running with 0 downtime, it's the most secure scrypt mining algo and has plenty of adoption and brand awareness - then that can help to bring in organic growth
K
09:51
KrlMrksπŸ…–
LTC/BTC is doing not bad in my opinion. Look at ETH/BTC for example, it felt to March 2017 levels. LTC/BTC is doing much better than March 2017
09:51
It is long term play
IG
09:51
Ilir Gashi
LTC works well as money now, people get caught up with trying to innovate that its pointless
K
09:52
KrlMrksπŸ…–
Patience is a key
IG
09:52
Ilir Gashi
Due to open source nature, you cant gain competitive advantage from innovation
09:52
You can get competitive advantage from branding and adoption
09:54
In reply toΒ this message
Yep, if you think in terms of decades then you really see theres no point in rushing things
T
09:54
TenaciousC πŸ…–
In reply toΒ this message
Are they? They are when they are pure p&d, not if they would be more substainable.
A big part of the reason btc got so big was due to the constant increase of price, sure it has big retraces but it keeps hanging higher and higher each cycle, thus making it less scary for people to hop on that train and stay at it.
I know this is a very unpopular opinion but it's the truth imo, most people give zero fucks about the tech behind it, they just wanna make money while they do they do help the coin with its adoption in a way

How do you want to achieve adoption when you cannot get people to hold your coin?

β€Œ
09:55
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
I disagree, it is not sound money while there is no fungibility.
IG
09:55
Ilir Gashi
In reply toΒ this message
It works well, it's not perfect
09:56
Perfection takes time, its only been 8 years and LTC is expected to be here for around 120 more years
09:57
Perfection is the end goal, but it doesnt change the fact that it works well as money
β€Œ
09:57
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
People being able to see my wealth and track my transaction history any time I spend it != working well
IG
09:57
Ilir Gashi
In reply toΒ this message
More people are holding LTC than BTC, as per a recent coinbase stat. It's not a matter of getting people to hold, it's a matter of getting people to spend
09:58
In reply toΒ this message
Theres tricks to hiding this or making it very difficult for people to find it
T
09:58
TenaciousC πŸ…–
In reply toΒ this message
True, but they can't spend what they are not holding
IG
09:58
Ilir Gashi
Why hasn't anyone found Charlie Lee's wallet address yet
09:58
Because you can find ways to make it very difficult to track
09:59
Theres also applications which you can use that are slightly confidential
β€Œ
09:59
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
I've been using crypto since 2012 and don't know those ways, so they must be very esoteric
IG
10:00
Ilir Gashi
If theres multiple outputs then it becomes difficult to keep track of whose address is whose
10:00
As I demonstrated with a good friend of mine who tried to track my address
β€Œ
10:00
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
Not to someone with chainalysis data from exchanges and merchants
IG
10:00
Ilir Gashi
But gave up
10:02
In reply toΒ this message
You dont need to hold in order to spend, if you get income in LTC then it becomes easier to spend
K
10:02
KrlMrksπŸ…–
People won't pay for coffee with something that could x10 in few years
10:02
it is delusion
IG
10:02
Ilir Gashi
Hence why adoption is important
K
10:03
KrlMrksπŸ…–
LTC should be something like stablecoin for people using it in everyday payments
IG
10:03
Ilir Gashi
In reply toΒ this message
Its 10x in terms of USD value
K
10:03
KrlMrksπŸ…–
so we should determine what we want
IG
10:04
Ilir Gashi
But it's been pretty stable in terms of BTC
10:04
Around the 0.01-0.02 range
K
10:04
KrlMrksπŸ…–
SOV or everyday payments
10:04
everyday payments != price volatility
IG
10:05
Ilir Gashi
In an optimal scenario, BTC will be used as a global reserve and so tracking with USD becomes irrelevant
10:05
By that time LTC can 10000000x USD
10:05
But remain pretty stable with BTC
10:06
Price volatility is due to not having enough adoption and or liquidity
K
10:06
KrlMrksπŸ…–
USD will be around for few decades for sure
10:06
it won't disappear overnight
IG
10:06
Ilir Gashi
In reply toΒ this message
Exactly, which is why I also look in terms of decades and not necessarily months or years
K
10:08
KrlMrksπŸ…–
In reply toΒ this message
so there is no point to spent LTC at least for a decade
IG
10:08
Ilir Gashi
People get scared because LTC price is slowly retracting against BTC right now but this has always happened in the past, it's a cycle
K
10:08
KrlMrksπŸ…–
while USD is around
10:08
In reply toΒ this message
thats right
IG
10:09
Ilir Gashi
In reply toΒ this message
That's the caveat, but its important to grow merchant adoption so that when it comes to that point then it becomes easier to spend
10:09
At least for me, I've spent more LTC than USD recently
K
10:09
KrlMrksπŸ…–
I am bot sceared I mean people we shuould determine what they want
10:09
SOV or everyday payments
IG
10:09
Ilir Gashi
And there are a few cases like this as well
K
10:10
KrlMrksπŸ…–
In reply toΒ this message
USD is much easier to spend
IG
10:10
Ilir Gashi
BTC is the ultimate storage of value, so if you want to have little risk then store all your wealth on BTC. LTC has some store of value elements but it is also swayed towards more payment
K
10:10
KrlMrksπŸ…–
what is the point to buy LTC with USD and then spend it ?
IG
10:11
Ilir Gashi
In reply toΒ this message
Hence why if people earn in LTC it becomes easier
10:11
Most things are priced in USD
10:11
You pay taxes in USD
10:11
But things are slowly changing
K
10:11
KrlMrksπŸ…–
In reply toΒ this message
you mean salaries?
IG
10:12
Ilir Gashi
In reply toΒ this message
Yea
K
10:12
KrlMrksπŸ…–
I think we are far from that
IG
10:13
Ilir Gashi
In reply toΒ this message
I know some people that are, but yeah we are way off
10:13
How do we persuade businesses to switch?
10:13
Get more adoption
10:13
Present cases studies that it has happened and saved costs
K
10:13
KrlMrksπŸ…–
for me it is pointless to spend something that can x10 over few years. IMO crypto is all about investment and making profit
T
10:14
TenaciousC πŸ…–
In reply toΒ this message
lol exactly....
In devs so easily see people who want financial benifit as a bad thing while this is just a normal human thing, if there is no incentive to get hold of some, how on earth do you think the coin will survive for your long term goals.
It's very straight forward imo, nothing is free, if you want something done you need to have incentives
IG
10:15
Ilir Gashi
In reply toΒ this message
Read into Gresham’s law mentality, bad money drives out good money
K
10:15
KrlMrksπŸ…–
In reply toΒ this message
Hence very few coins match this requirement, LTC is one of them
IG
10:15
Ilir Gashi
USD will be driven out as more people spend it
10:16
And as a counter, governments will increase supply and further devaluing the currency
T
10:16
TenaciousC πŸ…–
In reply toΒ this message
i used to think the same, then BTC hit 20k and I started actually spending small parts of it because I needed so few btc to pay for the stuff I wanted.
There is a tipping point where people start to spend parts of their profits
K
10:16
KrlMrksπŸ…–
In reply toΒ this message
but it has inflationary nature
10:17
BTC has opposite nature
F
10:17
Franklyn
In reply toΒ this message
What development progress has been made?
K
10:17
KrlMrksπŸ…–
In reply toΒ this message
+
IG
10:18
Ilir Gashi
In reply toΒ this message
Research, collaborative talks with Beam core developers, LIP currently being written up to be presented to the community
T
10:18
TenaciousC πŸ…–
In reply toΒ this message
Didn't the logo get an update, or was that last year? 😁
K
10:18
KrlMrksπŸ…–
Wonder about what we'll talk on Summit
F
10:19
Franklyn
What research, what LIPs and how are the talks going?
10:19
Can you name the developers on the Litecoin side?
10:20
Or is it the same as the CT announcement, a vague intent to do something and zero actual progress?
IG
10:20
Ilir Gashi
Research into various ways confidential transactions can get implemented, i.e. how MimbleWimble can be implemented and give options to the community. LIP will present some various ways, currently being written by ecurrencyholder
F
10:21
Franklyn
In reply toΒ this message
Don't even start, that was a joke
10:22
In reply toΒ this message
you have no idea what a LIP or BIP is and E has no tech background to write a solid one. I have done more research in my video on the topic of CT explaning the path we were taking.
IG
10:22
Ilir Gashi
Theres been some interest from BTC core devs to want to help with implementation
F
10:22
Franklyn
In reply toΒ this message
yeah because i told everyone in the video
IG
10:23
Ilir Gashi
Part of development is research
10:23
We cant just say this is the path and want to go
10:23
Since it's about community consensus
F
10:23
Franklyn
ok so its been close to 6 months what is the path?
IG
10:23
Ilir Gashi
So in that regards it becomes difficult to formulate one path, so we are researching on all paths
F
10:23
Franklyn
I wrote that video with Charlie those are his groundwork
IG
10:23
Ilir Gashi
So consensus is made over which one is best
10:24
Once a consensus is made, I am sure there will be plenty of devs that will want to work on getting it impemented
10:25
Beam core devs want to help, some BTC core devs are interested
F
10:25
Franklyn
Again its this vague statement of we are researching yet no evidence.
IG
10:25
Ilir Gashi
But its about finding that community consensus first
10:26
Which means we have to take time into researching all various ways and give the final say on community
F
10:26
Franklyn
This is totally happening guys. I am a director of the Foundation if i dont see it then something is wrong
IG
10:26
Ilir Gashi
Theres private channels, you can take it up with the other board members if you want more transparency
F
10:26
Franklyn
I have a private chat where i have asked for dev updates numerous time and have zero response
IG
10:27
Ilir Gashi
I'm saying what I see on my side
10:27
And that research is happening
F
10:27
Franklyn
You sit in on these talks that are hidden from me?
β€Œ
10:27
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
πŸ™ˆ
K
10:27
KrlMrksπŸ…–
In reply toΒ this message
😞
IG
10:29
Ilir Gashi
I may not all areas that are being worked on, but that's because theres plenty of people that are doing their bit. Ecurrencyholder can give you an update as to how the LIP is going
10:29
Or if you want to help, you can try and find ways to add to the discussions
10:29
Like with any other member on this channel
10:30
Yea its slow
10:30
Yeah marketing might have had some priority
F
10:31
Franklyn
In reply toΒ this message
Animation
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IG
10:31
Ilir Gashi
But all the partnerships recently (UFC, Glory, Miami) were initiated from the beginning of the year
K
10:31
KrlMrksπŸ…–
development is base, marketing has very short-term effect without development lol
IG
10:31
Ilir Gashi
Before CT was even on the table
F
10:32
Franklyn
Excuses and dodging the cost to our image
K
10:32
KrlMrksπŸ…–
Those Dolphins may stop working with LTC and then what ?
IG
10:32
Ilir Gashi
In reply toΒ this message
It's a contract for a year, I believe
F
10:32
Franklyn
How much did it cost again?
10:34
In reply toΒ this message
if only you knew. i have been working on the project for over 6 years. i stood by charlie when everyone left in 2014/15. I don't enjoy this conversation but it needs to happen
IG
10:34
Ilir Gashi
The community in LTC are dedicated and passionate, and fueled by the recent partnerships and progress in adoption made
10:35
I've seen more people speaking positively about LTC than in the past 2 years
10:35
Our image is fine
F
10:35
Franklyn
Its a moral dilema. We cannot ask for money yet privately say theres no dev to pay with it
K
10:35
KrlMrksπŸ…–
Problem of LTC IMO that development has never been on 1st place
10:36
everything but not development
F
10:36
Franklyn
In reply toΒ this message
You will never know the pain of sticking with a dead project. Ofcourse its positive now as the space has grown exponentially.
β€Œ
10:37
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
+
F
10:37
Franklyn
Charlie cant also say we will have CT in 2019 and then say he doesnt care when people ask for updates or expect some progress to have been made
IG
10:38
Ilir Gashi
In reply toΒ this message
The foundation is a non profit, so its primarily fueled by donations and sponsorships
β€Œ
10:38
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
exactly
IG
10:38
Ilir Gashi
I dont see any moral dilemma
K
10:38
KrlMrksπŸ…–
In reply toΒ this message
++
F
10:38
Franklyn
People here give us money, why should i be complicit in that behaviour its terrible to those who trust us#
10:39
I hate this, i truly do#
IG
10:39
Ilir Gashi
Why trust anyone at all? I may not be technically competent in coding but I will trust others who are. We build societies on trust. The foundation is dedicating resources to allocating to development, which can mean outsourcing or sponsoring devs
F
10:40
Franklyn
In reply toΒ this message
did you even read charlies above messages?
10:42
What would happen if i right now told people actually in public Litecoin has zero active development and i havent heard anything from the lead developer in months?
IG
10:43
Ilir Gashi
Development is all the parts from start to finish, including research to coding to fixing bugs to executing it
10:43
There has been plenty of development
10:43
In that regard
10:43
Is it public? Maybe not
10:43
But that's something we can work on
10:43
As a communication issue
F
10:44
Franklyn
Dude, who are the core developers who maintain the protocol?
10:44
Be exact, no more vagueness#
β€Œ
10:45
β€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Žβ€Œβ€Œβ€Ž
In reply toΒ this message
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14.5 KB
IG
10:46
Ilir Gashi
Open source allows different projects to gain the benefit of development. As for protocol upgrades from BTC, historically it has been a few devs. Up until now, we are in sync with the BTC core repo. Are there any issues with bugs that you have found?
10:46
Or any issues with the syncing?
F
10:46
Franklyn
In reply toΒ this message
Answer the question
10:46
you dont know do you?
10:47
its fine if you don't but please dont act as if you do, we need an honest conversation and not burry our heads
IG
10:47
Ilir Gashi
I don't need to name names, since open source you can have plenty of developers from different projects
F
10:48
Franklyn
In reply toΒ this message
Sticker
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πŸ™ƒ, 35.4 KB
K
10:48
KrlMrksπŸ…–
πŸ˜‚
IG
10:48
Ilir Gashi
That benefit Litecoin and vice versa
10:48
The question is
10:48
Are there any issues in bugs
10:48
Or issues with coding
10:49
That needs immediate attention?
F
10:49
Franklyn
bruh you should be a politician, this dodging is top class
K
10:49
KrlMrksπŸ…–
I guess we are talking about development progress
10:49
In reply toΒ this message
lol
IG
10:50
Ilir Gashi
Theres been plenty of progress made with wallets, LN nodes and other areas of development
10:50
Pinned message for example
IG
10:50
Ilir Gashi
Are there any issues with code bugs?
10:51
Or stuff that have not synced properly from BTC core repo?
10:52
If you want to debate protocol maintenance, give some issues that need to be addressed
10:52
As far as I am aware, we are all in sync
T
10:53
TenaciousC πŸ…–
In reply toΒ this message
So Franklyn's question should be easy to answer then 😏

Straight answer, who are the devs actively working on LTC right now (if any) ?
What progress?

IG
10:54
Ilir Gashi
Actively working in what way? Syncing repos? Research on CT? Working on LN wallets?
10:54
Working on foundation wallet?
10:55
Theres been progress for each of the above
10:55
How you measure progress is up to you
10:56
I'm not here to say that LTC has always had major development and that we have a lot of devs
10:56
But this idea that we need to have many devs in order to survive is nonsensical
10:59
Has there been any issues in bugs recently that has made people so worked up on development?
10:59
I would bet many people will say no
11:00
Just because our strong points is not development doesn't mean we are failing or at risk of failure
11:01
Our strong points are brand awareness and adoption, which is why LTC has continued to remain in the top 10 for 8 years
11:01
Yet other coins that have major development are not in the same category as us
11:02
Due to the fact that getting the brand awareness and adoption is difficult
A
11:02
Aztek_btc
In reply toΒ this message
Please pm me
IG
11:04
Ilir Gashi
In reply toΒ this message
πŸ‘
K
11:11
KrlMrksπŸ…–
I think we shouldn't make this conversation available for public
11:11
IMO
IG
11:12
Ilir Gashi
In reply toΒ this message
Nothing I've said has remained private, I've always told the community the same information
K
11:13
KrlMrksπŸ…–
there are a lot of things that can be missrepresented
11:13
In reply toΒ this message
that is the reason
IG
11:13
Ilir Gashi
In reply toΒ this message
Like what things
11:14
We have been vocal that we pull and merge code from BTC core
11:14
We have been vocal that we are currently in research stages for CT
K
11:15
KrlMrksπŸ…–
things can be manipulated concerning development, concerning misunderstanding inside community etc etc
11:16
In reply toΒ this message
+
IG
11:16
Ilir Gashi
In reply toΒ this message
Currently writing an article to debunk development FUD
K
11:16
KrlMrksπŸ…–
In reply toΒ this message
thats great
IG
11:16
Ilir Gashi
From electric capital, which made that report
11:17
I've always been open and honest with my communication to the community, if people get swayed by FUD articles then that's up to them

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