Post
Topic
Board Altcoin Discussion
Re: ► ► ► LTC IPO: Litecoin's Pre-Gox Project, fontas ► ► ►
by
TsuyokuNaritai
on 11/07/2013, 18:03:55 UTC
The key is to mine with all machines, maximizing hash rate between Adj1 and Adj2. Right after Adj2 happens, turn the mining machines away, either mining other coins or turned off completely until Adj3. After Adj3, normal mining can resume.

With the high difficulty and low network hashrate, blocks will not be solved. That means when LTC holders try to transfer LTC to Gox to sell, it will take hours before the confirmations come in. As a result, a large amount of LTC is stuck in limbo, on the way to the Gox wallet but unconfirmed by the lagging blockchain.

That would damage LTC's reputation & possibly get Gox to drop it straight away.

So, most LTC miners won't do it.

Anyone saying this is retarded. That would mean that someone could get Gox to drop a coin just by saying 'let's pump it!'.

Fontas was calling on miners to do things, not just say they were going to. And much worse things than just pumping, in the quote I was responding to.

So your first sentence is true, as long as by "this" you meant your second sentence.