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Topic: Anyone Thinking Of Dumping Bitcoin In Favour of Litecoin? (Read 5548 times)

newbie
Activity: 57
Merit: 0
I think LTC will grow up because people love to mine. Even people who just bought ASIC will keep their GPU to mine whatever they could. And LTC is the perfect way to do that. I'm talking about people with small rigs, who mines for fun (and for money too Grin), but more for fun.

Litecoin first will be a way to obtain Bitcoins with GPU mining in ASIC era, but due to that use will grow up to become the first altcoin and coexist with BTC.

Exactly. I'm still buying GPUs expecting to mine Litecoin with them once the ASIC aristocracy ruining mining for the common man. Litecoin is what I'll be spending and encouraging soon.
member
Activity: 115
Merit: 10
I think LTC will grow up because people love to mine. Even people who just bought ASIC will keep their GPU to mine whatever they could. And LTC is the perfect way to do that. I'm talking about people with small rigs, who mines for fun (and for money too Grin), but more for fun.

Litecoin first will be a way to obtain Bitcoins with GPU mining in ASIC era, but due to that use will grow up to become the first altcoin and coexist with BTC.
legendary
Activity: 1708
Merit: 1000
Reality is stranger than fiction
I think Litecoin's fast transactions and resistance to centralization (more ASIC proof) could give it a leg up with real merchants in the future.  Since people are now getting familiar with the wallets and cryptocoin transactions, the hurdle for LTC should be less.

Exactly  Cool
sr. member
Activity: 297
Merit: 250
I think Litecoin's fast transactions and resistance to centralization (more ASIC proof) could give it a leg up with real merchants in the future.  Since people are now getting familiar with the wallets and cryptocoin transactions, the hurdle for LTC should be less.
member
Activity: 70
Merit: 10
For all you profit retards, TRC went from 0.0001 to 0.005 in a week or so - that would be $1 to $50, match that! Enjoy money made on LTC because that
is the only thing you can enjoy while dealing with LTC. It ain't gonna buy you much on it's own. The same goes for all other altcoins, with Namecoin having
some value actualy. One can make money on altcoins because and only because there is Bitcoin, but you retards got it the wrong way. You probably think
that altcoins would profit if Bitcoin dies. Dump Bitcoin in favour of Litecoin? Right, let's kill Bitcoin, let's drop BTC price, it would make Litecoin more valuable,
stable and useful - not really, it is exactly the oppossite!

You are blinded by profit to extreme, hence you are aware of nothing except the fact you made some money or you lost some money. For you, nothing else
matters. Since it is so, you would be better selling drugs, doing slave trades, smuggling nuclear weapons over the border and so on - which you would be
doing for sure if only you have balls, mental and physical capabilities. Since you don't have what it takes, making $1000 because external factors caused LTC
price to rise is a major achievement for you. Go tell that to rich people around you, they will laugh at you for being lame, incapable and incompetent.
except for the "small" market depth and market cap difference. (~720025BTC ltc market cap vs ~4066BTC trc market cap , or a difference of ~17708+%). bitcoin and litecoin are not competing for the same, fixed amount of already available resources.
as for using it to actually buy stuff, you can exchange it for usd....or you can spend it on one of the various ltc-accepting services. http://uselitecoin.com/ . and no, i dont think it would be healthy for any altcoin if bitcoin died, nor would i want bitcoin to die.
legendary
Activity: 1708
Merit: 1000
Reality is stranger than fiction
Litecoin is much better now. BTC may rise x5, but LTC may rise x50!!!!!
legendary
Activity: 1708
Merit: 1020
I like alternacoins for the fun and for experimenting to improve Bitcoin. Also for new features like with namecoin (database).

A GPU / ASIC resistant coin was a very good idea but from what I know the Scrypt parameters used in Litecoin are far from optimum. Also the launch felt kinda fishy (lots of orphans at the start; possibly secretly GPU mined later on).

Maybe it's because I don't own any but I just don't like Litecoin.

A real GPU resistant coin would be a killer: https://bitcointalksearch.org/topic/hash-algo-more-gpu-resistant-than-scrypt-95257 "hash algo more GPU-resistant than scrypt?"


edit: clarification on when GPU mining started
member
Activity: 70
Merit: 10
As it becomes clearer that new money is finding its way to Litecoin rather than drawing from Bitcoin as in they both increase in value at the same time, then we can all site around a campfire roasting marshmellows in peace.  Grin
yup. people seem to think that any other cryptocurrency being viable = a threat to bitcoin. this is a fallacy. it makes several non-valid assumptions.
bitcoin, litecoin, namecoin, etc are not enemies. it's not a zero sum game. they're all part of the same "ecosystem", but they are not even remotely competing for the same "food"/resources per say.
vip
Activity: 1316
Merit: 1043
👻
When Bitcoin mining becomes only for those rich few that can afford an ASIC, the GPU miners will turn to Litecoin.

Litecoin will have a wider base of miner enthusiasts and its popularity will grow and surpass Bitcoin.

ASICs will kill Bitcoin, the future currency has to be for the masses to be involved with not a new central bank of ASIC elite!

Go ahead. There will be a Litecoin Asic. And it will be more expensive and more Elite.

Except if you want a speed boost there is no way to efficiently parallel compute the Scrypt algorithm without throwing loads of money at it to the point it becomes prohibitively expensive. This is proven mathematically in the Scrypt paper - http://www.tarsnap.com/scrypt/scrypt.pdf (Litecoin uses Scrypt for this reason)

People will bring out ASICs and FGPAs but unless there is a computer science breakthrough the performance increase won't be dramatic on a per dollar basis. Simply not possible.

So only the rich can afford it? That sure sounds like a better plan than making it affordable and available to the masses.

No you misunderstand and didn't read the link. If someone spends 10k on a Scrypt Asic it won't give them a 100 times performance boost over someone rigging together 10k's worth of top graphics cards.

Some performance boost will be gained but the algorithm was specifically designed so a government entity for example couldn't crack a Scrypt hashed password by simply throwing more money at the hardware because it will become exponentially more expensive. Again, read the paper it's all in there.
You don't spend 10k on a ASIC, R&D are FAR MORE THAN that for bitcoin.
hero member
Activity: 826
Merit: 500
Crypto Somnium
converted 30 BTC to LTC  Wink
legendary
Activity: 1096
Merit: 1067
As it becomes clearer that new money is finding its way to Litecoin rather than drawing from Bitcoin as in they both increase in value at the same time, then we can all site around a campfire roasting marshmellows in peace.  Grin
member
Activity: 70
Merit: 10
Wrong parallel. Bitcoin is still alive. You are not living in a parallel universe without Bitcoin. The mere fact Bitcoin was first cryptocoin out there gives it
complete and absolute "cleanup" from all "bad" things that happened around it. What "cleanup" you have for Litecoin? Is there even 1 thing Bitcoin could
copy / paste from Litecoin that didn't originated from Bitcoin? Scrypt? Nope, all you did is changed Bitcoin algo with another one. Is there any concept,
technology, structure, module, ideology, purpose or anything like that in Litecoin but not in Bitcoin? Nope. Copy / paste change few lines of code kids!

All this bullshits from the mouths of you who invested in LTC is about nothing more but attempting to add some value to it so you can profit. Ask anyone
who has no cryptocoins whatsoever what would be his or her choice if he or she decides to jump onto cryptocoin train. Litecoin? Gotta be complete retard
or someone who is versed with investments, and is ready to go with very high risk in order to eventualy profit a bit more than investing in bitcoins.

Not even 6 months ago I had no cryptocoins at all, but I worked for bitcoins. Now I can buy over 1 THashes of ASICs with what I earned, for those same
bitcoins. I don't have to mess with any other currency whatsoever. Once LTC comes even close to allowing such a deal, I'll start taking it seriously.

Until then, keep on dreaming and pray someone else do the job - that is most of Litecoiners are capable of, judging based on lack of LTC purchasing power.
i dont even know what the fuck you're on about now. look at the fucking charts. litecoin hit $1 for the first time a few days ago. it's now sitting at ~4.5. You can ignore, disrespect, call us all a bunch of devil-worshippers and even excommunicate those who use litecoin it's not going to make any difference. early adopters (and even not so early adopters) are quite enjoying their profits from making the right calls, and the world probably has more than a few new millionaires today. Now, if you (and some others) want to keep denying the reality that's your own fucking (boneheaded) choice.
newbie
Activity: 19
Merit: 0
LTC is based on specific technology with the assumption that ASIC's will not be used.  BTC is based on Moore's Law and independent of specific technology.  LTC was created to deter GPU's but now they are the dominant technology.  Once a LTC ASIC is made, the distinction between LTC and BTC will be close to nil.
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
Current technology shift is like when people switch from CPU to GPU, BFL play a very big role here, they are going to distribute ASIC devices to many different kind of users. If I get it right, they have some 30000 order or so, that should give enough people access to ASIC mining devices, and it's typically cheaper than GPU mining devices
hero member
Activity: 938
Merit: 1000
www.multipool.us

LTC is overpriced almost worthless coin. For every item or service you can actualy buy with it there is 100x more items or services you can buy with BTC.


And for a vendor who already accepts cryptocurrency and wants access to more customers there is a negligible cost of implementing additional crytpocurrencies.
member
Activity: 70
Merit: 10
Just because people are dumb and buying LTC it does not mean it is going to become useful.
>implying litecoin is not already useful.

this is pointless, fwiw, bitcoin was for a loooong time just a 100% speculative thing. a lot of people still view (and treat) bitcoin like that.
donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
I take it all back. Go Litecoin! Viva la Bitcoin! Drive on Namecoin! There is more than enough room for all of these currencies and more to go to the moon!


I think it would be a death knell for MTGOX to adopt other currencies, but it won't hurt Bitcoin a bit. In fact it would open up more serious exchanges and brokerages to the Bitcoin market.
donator
Activity: 1654
Merit: 1351
Creator of Litecoin. Cryptocurrency enthusiast.
I take it all back. Go Litecoin! Viva la Bitcoin! Drive on Namecoin! There is more than enough room for all of these currencies and more to go to the moon!

donator
Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
I take it all back. Go Litecoin! Viva la Bitcoin! Drive on Namecoin! There is more than enough room for all of these currencies and more to go to the moon!
legendary
Activity: 1540
Merit: 1029
I wouldn't dump Bitcoin or Litecoin.  But I am dumping the fiat for both Grin

Hear hear!
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