Quote from: Beeker on April 01, 2014, 06:08:02 PM

Quote from: AlexGR on April 01, 2014, 06:05:44 PM

Quote from: Beeker on April 01, 2014, 05:59:05 PM

Please guys, keep this ontopic. It's not a HIC / DRK topic.

Yes, you are right: The question is really how can LTC-x coinholders be protected from the dumping that is possible from cloning LTCs of the main fork.

Let's say the fork is on 5th April 16:00 GMT.

1. On April 5, 15:00 GMT, I go on cryptsy, sell 10 BTC for 400 LTCs, send the 400 LTCs to my wallet.

2. 16:00 GMT- => Fork happens using the blockchain info up to that point.

3. On 17:00 GMT I send my 400 LTCs back to cryptsy and sell them for 10 BTCs. So I have my 10 BTCs back.

4. I now have 400 LTCs on the LTC-x fork which I'm ready to dump whenever it hits an exchange.

This is too exploitable.

No, it's not.

Your wallet and Cryptsy will be on the same hardfork at the same block, so you will end up with either 400 LTC or 10 BTC.
If Cryptsy isn't on the hardfork, then we didn't get all the big exchanges on the hardfork and there will be no hardfork.

As I said before, the hardfork is the easiest part of the project. It has been done before with other coins, changing specifications and/or algorithm.
Getting everyone over to the new algorithm is our challenge.

Yes, it's not doable really. Because it will literally require EVERYONE on board to work, otherwise it won't work. If I can buy LTC-scrypts prior to the fork and find even one exchange to sell them back after the fork, then I can have free LTCs for dumping on the LTC-x11 fork. And chances are there will be more than one exchange where I can sell back scrypt LTCs (actually chances are 95-100% of the exchanges will still operate with scrypt LTC).

The probability of every single BTC/LTC exchange to go with the LTC-x11 plan is so remote that it's not even funny. And with that probability goes away the chance to successfully do what you want to do.

This escalates from a democracy 51% percent, to a unanimous decision of 100% agreement (impossible).