All posts made by Quickfant in Bitcointalk's Wall Observer thread

This tweet from Charlie Lee has surprised me:

https://twitter.com/SatoshiLite/status/997978007875670016

He was millionaire before Bitcoin? Surprising. Anyone knows what he was doing before?

I think he worked at google right?

That would make for it yeah. Also probably he is older than he looks like (in fact in recent pictures he does).

If you read that twitter stream, to this day Charlie doesn't consider Litecoin a scam.

But often we need to reconsider what the definition of a scam truly is.

I mean, to make Litecoin he literally took a snapshot of the Bitcoin source code, changed like 2 easily-found config parameters, and launched it. And he admitted that it took him all of like a long Saturday to change and test it. He put almost zero effort into creating Litecoin. He created an altcoin of Bitcoin with a few clicks of a mouse. What he did, anyone could literally do with enough knowledge of the code.

So what part about that process and goal isn't scammy? Today when people do that with the Bitcoin source, we say that they're doing it for scammy or selfish purposes. But for some reason we give Charlie a pass because he's a nice guy, Bitcoin proponent, and no longer holds any LTC. (Little known fact: he once DID hold a metric shitload of LTC and probably made a million dollars selling some before LTC even hit $0.20c)

Times change. The fact that it was acceptable when Litecoin first came about is probably because there wasn't a metric tonne of altcoins out then. These days you can't watch some porn without an ICO popping up "TO THE MOON THE NEW COIN THAT SURPASSES BITCOIN AIRDROP NOW"

I don't consider changing a few parameters as if we look at a lot of things these days they are direct copies of something else. Do people cry about the chinese knock offs? No because they can sometimes be of better investment. Litecoin made a lot of people happy at the time.

If you were to do that now though it's already been done a million times by millions of different "developers". That don't even engage with it's consumers and just bask in the price that their "altcoin" fetches.

Quote from: Searing on May 20, 2018, 07:01:30 PM

Quote from: mindrust on May 20, 2018, 06:07:13 PM

Quote from: Anon136 on May 20, 2018, 05:59:40 PM

Quote from: Harlot on May 20, 2018, 04:14:18 PM

Target 1 would be 8,600-8,800$ if BTC breaks that we are off to the 9,000$ level again.

Everytime it breaks $9000 somebody on reddit creates a topic and says "this is the last time we see btc under $9k" and then few days later we go under $9k again.

I think they are dumping on us and like many told before they'll keep dumping it till we hit below $5k. They probably have enough bitcoins to give us 2-3 painful years before the next big boom.

It is mt. gox damn it....from what I figure they have to dump $240 million in usd of BTC a month, to get the liguidation done by the end of this year....*them

trustees want their cut and the Japanese Gov't wants this all over with)

thus, we will go to 9k and drop to 7k and rinse wash repeat for a month or two...then the mt. gox trustees will have a timeline, say end of the year and we will

drop to 4k ...it is gonna suck!

Suck? If your an investor for the long term of Bitcoin you are probably relishing your forecast here. A few months of ping ponging back and forth will satisfy some of the day traders and a big drop towards the end of the year will satisfy those who want to invest more long term.

Here's to hoping that your forecast comes true!