Bitcoin, altcoin, litcoin, dogecoin - page 3.

gamblethis

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Quote from: jjc326 on September 10, 2014, 09:03:45 AM

For some more practical advice, don't worry about too many altcoins, unless you want to try something rather risky and invest in a new coin. Just focus on Bitcoin, Litecoin, and one or two other coins you think are useful.

Bitcoin and Litecoin has proven its worth over the years. Dont worry about the others.

ChuckBuck

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better everyday ♥

Just stick to Bitcoins if you're serious about Cryptocurrency, and are in it for the long haul.

If you want to have a little fun, play the market with a few bucks, try trading those alt coins on https://www.cryptsy.com/

jjc326

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For some more practical advice, don't worry about too many altcoins, unless you want to try something rather risky and invest in a new coin. Just focus on Bitcoin, Litecoin, and one or two other coins you think are useful.

Muhammed Zakir

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I prefer Zakir over Muhammed when mentioning me!

Quote from: virtualx on September 10, 2014, 06:48:47 AM

Quote from: barneystinkcoin on September 03, 2014, 03:27:48 AM

What's the difference between those coins? Does it have the same prices? Though I only hear about bitcoin a lot. What's altcoin, litcoin and dogecoin got to do?

They are different currencies. They have a different supply/demand and trade volume, that's why the price is different.
It's similar to why US dollar is worth more than Congo dollar

If you are creating a currency, at some point you have to choose how many units you will produce.
Will there be 1000 coins? 100.000 coins? Will you keep creating coins forever?
This is the coin limit. Bitcoin has a maximum of 21 million coins. Litecoin has a maximum of 84 million. Every coin has its coin limit.

You are almost right. But every coin doesn't have coinlimit. Its the founders choice whether the coin should has coinlimit or not. But ofcourse, the reward for blocks gets diminished over time. Coins without coinlimit are PPCoin and its offspring NovaCoin. I don't know whether any new coin is introduced without coinlimit.

~~MZ~~

virtualx

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LOTEO

Quote from: barneystinkcoin on September 03, 2014, 03:27:48 AM

What's the difference between those coins? Does it have the same prices? Though I only hear about bitcoin a lot. What's altcoin, litcoin and dogecoin got to do?

They are different currencies. They have a different supply/demand and trade volume, that's why the price is different.
It's similar to why US dollar is worth more than Congo dollar

If you are creating a currency, at some point you have to choose how many units you will produce.
Will there be 1000 coins? 100.000 coins? Will you keep creating coins forever?
This is the coin limit. Bitcoin has a maximum of 21 million coins. Litecoin has a maximum of 84 million. Every coin has its coin limit.

bitkilo

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https://www.bitcoin.com/

Just because they chose 84 million with litecoin has nothing to do with budget, any alt coin dosen't have value or even exsist before it is mined. Once it has been mined that coin will be worth the same as any other litecoin according to market value at the time.
Now if 1 litecoin was worth the same as 1btc then litecoins marketcap would be bigger by the time all coins are mined or even long before.

turncoat_ewok

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Quote from: Champ92 on September 10, 2014, 01:40:26 AM

Quote from: Muhammed Zakir on September 08, 2014, 10:19:25 AM

Quote from: altcoinlady on September 07, 2014, 10:17:19 PM

Quote from: turncoat_ewok on September 05, 2014, 06:15:43 AM

There are a lot of differences between BTC and LTC.
BITCOIN LITECOIN
Coin limit      21 Million      84 Million
Algorithm      SHA-256      Scrypt
Mean block time     10 minutes      2.5 minutes
Difficulty retarget     2016 block      2016 blocks
Block reward details     Halved every 210,000 blocks.      Halved every 840,000 blocks
Initial reward      50 BTC      50 LTC
Current block reward 25 BTC      50 LTC

Why is it that lite has bigger limit compared to bitcoin?

It is their choice, how much they want to produce. Satoshi chose 21 million. I think it is enough. Circulating existing coins are much better than making new ones and if I am right, after 21 millions are used, the price will eventually rise.

~~MZ~~

So that means Litecoin producers chose to have 84 million as their limit? That means, they have bigger budget compared to btc?

Yes Litecoin producers chose to have 84 million as their limit. What do you want to mean by bigger budget?

Champ92

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☯YIN YANG KING☯

Quote from: Muhammed Zakir on September 08, 2014, 10:19:25 AM

Quote from: altcoinlady on September 07, 2014, 10:17:19 PM

Quote from: turncoat_ewok on September 05, 2014, 06:15:43 AM

There are a lot of differences between BTC and LTC.
BITCOIN LITECOIN
Coin limit      21 Million      84 Million
Algorithm      SHA-256      Scrypt
Mean block time     10 minutes      2.5 minutes
Difficulty retarget     2016 block      2016 blocks
Block reward details     Halved every 210,000 blocks.      Halved every 840,000 blocks
Initial reward      50 BTC      50 LTC
Current block reward 25 BTC      50 LTC

Why is it that lite has bigger limit compared to bitcoin?

It is their choice, how much they want to produce. Satoshi chose 21 million. I think it is enough. Circulating existing coins are much better than making new ones and if I am right, after 21 millions are used, the price will eventually rise.

~~MZ~~

So that means Litecoin producers chose to have 84 million as their limit? That means, they have bigger budget compared to btc?

Muhammed Zakir

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I prefer Zakir over Muhammed when mentioning me!

Quote from: altcoinlady on September 07, 2014, 10:17:19 PM

Quote from: turncoat_ewok on September 05, 2014, 06:15:43 AM

There are a lot of differences between BTC and LTC.
BITCOIN LITECOIN
Coin limit      21 Million      84 Million
Algorithm      SHA-256      Scrypt
Mean block time     10 minutes      2.5 minutes
Difficulty retarget     2016 block      2016 blocks
Block reward details     Halved every 210,000 blocks.      Halved every 840,000 blocks
Initial reward      50 BTC      50 LTC
Current block reward 25 BTC      50 LTC

Why is it that lite has bigger limit compared to bitcoin?

It is their choice, how much they want to produce. Satoshi chose 21 million. I think it is enough. Circulating existing coins are much better than making new ones and if I am right, after 21 millions are used, the price will eventually rise.

~~MZ~~

SW725

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Activity: 81

Merit: 10

altcoin sucks. that is the truth. If you want to venture in this hobby, choose bitcoin alone. Backed up with everything.

altcoinlady

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Activity: 93

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Imagine Me and You

Quote from: turncoat_ewok on September 05, 2014, 06:15:43 AM

There are a lot of differences between BTC and LTC.
BITCOIN LITECOIN
Coin limit      21 Million      84 Million
Algorithm      SHA-256      Scrypt
Mean block time     10 minutes      2.5 minutes
Difficulty retarget     2016 block      2016 blocks
Block reward details     Halved every 210,000 blocks.      Halved every 840,000 blocks
Initial reward      50 BTC      50 LTC
Current block reward 25 BTC      50 LTC

Why is it that lite has bigger limit compared to bitcoin?

silvestar

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Quote from: Bit N Roll on September 04, 2014, 11:36:18 PM

About all this, what is the best coin next to bitcoin?? Heard a lot of good reviews about doge and stellar.. Will they overtake bitcoin's success?

From the perceptive of market cap and merchant acceptance, I think next best coin is litecoin.

Possible but very unlikely IMO.

InwardContour

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Quote from: Bit N Roll on September 04, 2014, 11:36:18 PM

About all this, what is the best coin next to bitcoin?? Heard a lot of good reviews about doge and stellar.. Will they overtake bitcoin's success?

Stellar is only a viral currency copied from Ripple, it won't replace bitcoin for sure.
Same for doge, it has a strong and nice community but the coin isn't innovative in itself.

turncoat_ewok

newbie

Activity: 42

Merit: 0

There are a lot of differences between BTC and LTC.
BITCOIN LITECOIN
Coin limit      21 Million      84 Million
Algorithm      SHA-256      Scrypt
Mean block time     10 minutes      2.5 minutes
Difficulty retarget     2016 block      2016 blocks
Block reward details     Halved every 210,000 blocks.      Halved every 840,000 blocks
Initial reward      50 BTC      50 LTC
Current block reward 25 BTC      50 LTC

King Agamemnon

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Quote from: Bit N Roll on September 04, 2014, 11:36:18 PM

About all this, what is the best coin next to bitcoin?? Heard a lot of good reviews about doge and stellar.. Will they overtake bitcoin's success?

You can check it in the wikipedia. I thinks it lite or doge.

Bit N Roll

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About all this, what is the best coin next to bitcoin?? Heard a lot of good reviews about doge and stellar.. Will they overtake bitcoin's success?

tanaka

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Quote from: taylorgamete on September 04, 2014, 11:31:10 PM

I think all coins are called cryptocoins. altcoin are those coins that came after bitcoin was made.

that is right.

taylorgamete

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I think all coins are called cryptocoins. altcoin are those coins that came after bitcoin was made.

grantenierman

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Quote from: gregheflee on September 04, 2014, 12:55:08 AM

Quote from: grantenierman on September 03, 2014, 09:01:27 PM

Quote from: barneystinkcoin on September 03, 2014, 03:27:48 AM

What's the difference between those coins? Does it have the same prices? Though I only hear about bitcoin a lot. What's altcoin, litcoin and dogecoin got to do?

litecoin and dogecoin is an altcoin altcoin is pretty much anything but bitcoin because bitcoin is the first.

So all of these altcoins then are called, cryptocoin right? Or am i wrong?
[/quote

all coins are cryptocoins

FlyForFun

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Merit: 250

Quote from: Buziss on September 04, 2014, 07:59:56 AM

Quote from: liteboozer on September 04, 2014, 07:45:48 AM

Quote from: Buziss on September 04, 2014, 07:06:09 AM

Quote from: barneystinkcoin on September 03, 2014, 03:27:48 AM

What's altcoin, litcoin and dogecoin got to do?

This is a good question indeed.

What have litecoin brought us? It was created for GPU-resistent and now we have scrypt ASIC already.
What have dogecoin brought us? It just tells us how important the coin community is towards the coin popularity.

What about the other hundreds of altcoin?

How long are you studying this things? How long am I going to need to understand all this?

I joined in the bitcoin world last November, and so it is like 10 months.

Unless you are planning to invest in an altcoin, there is absolutely no need for you to know what those altcoins are lol.

Actually, its good to know those altcoin, it does have a slight impact on bitcoin..

Topic: Bitcoin, altcoin, litcoin, dogecoin - page 3. (Read 8963 times)