Topic: bitcoin can be beated by litecoin? (Read 1821 times)
Oh, and this thread should be moved to the (preferably blackhole) altcoin forum
litecoin is like forumgold. It's bitcoin's little brother, who will always be following along like a puppy dog, and wants to prove himself, but in reality all he's doing is being annoying.
Litecoin and forumgold will die off as the founders sell off and everyone wonders what happened to the steam.
Ignore litecoin. It was created by bitcoin users who were upset that they missed the early mining days of the gravy train.
Litecoin and forumgold will die off as the founders sell off and everyone wonders what happened to the steam.
Ignore litecoin. It was created by bitcoin users who were upset that they missed the early mining days of the gravy train.
People seem to think that having a faster block finding time is better [...] Obviously there aren't any nodes in space, but the point is that "Satoshi Nakamoto" thought ahead enough to foresee potential distance or connection problems.
Oh brother. The great and wise Satoshi did not extract the 10 minutes interval basically out of his ass for what was intended to be a proof of concept cryptocurrency experiment. No, he envisioned this experiment will grow to the point where the whole universe would use bitcoins, turning the early adopters into filthy rich Jabba the Hutts. Give it a rest already.
A smaller interval can be unstable and reduce the security because of increased forks and orphans, so altcoins are a good experiment to see how low can it go. The 10 minute interval is a nice round number that errs on the side of caution. It has nothing to do with you greed induced fantasies of interplanetary wealth and the dancing princess Leia on a chain.
Even if I was a bear in the market, I would still post this about BTC. The point is that there is not possible situation in which a 10 minutes block time could lead to nodes being behind. However a 1 minute block time can. It's as simple as that. You're reading too deeply into the words I said (namely deep orbit) and overlooking the over-arching point that all nodes will ALWAYS be on the same page. BTW, I don't care at all for Satoshi, yet you make it seem like I'm a cultist... My point in mentioning his name was to say the BTC creator planned the currency instead of just forking it off of another and changing the block time.
People seem to think that having a faster block finding time is better (and makes LTC a better coin), but they fail to realize that with growing usage, there may be slow connections which can't recieve data quick enough to stay up to date with a 1 min block time. However, Bitcoin's 10 minute block finding time provides enough time for the block to be broadcasted into deep orbit to keep potential nodes up to date. Obviously there aren't any nodes in space, but the point is that "Satoshi Nakamoto" thought ahead enough to foresee potential distance or connection problems. Litecoin tries to solve the "slow" transaction problem by solving blocks irresponsibly quickly.
On top of that, BTC already has a much stronger market hold, and way more people recognize the name "Bitcoin."
On top of that, BTC already has a much stronger market hold, and way more people recognize the name "Bitcoin."
I agree completely.
Btw I wasn't sure what "advantages" has LTC over BTC and now I know it - thanks
No it can't be beateN (learn how to write proper english).
English isn't the first language of many Bitcointalk members.Perhaps you could learn to be more accommodating to that?
People seem to think that having a faster block finding time is better [...] Obviously there aren't any nodes in space, but the point is that "Satoshi Nakamoto" thought ahead enough to foresee potential distance or connection problems.
Oh brother. The great and wise Satoshi did not extract the 10 minutes interval basically out of his ass for what was intended to be a proof of concept cryptocurrency experiment. No, he envisioned this experiment will grow to the point where the whole universe would use bitcoins, turning the early adopters into filthy rich Jabba the Hutts. Give it a rest already.
A smaller interval can be unstable and reduce the security because of increased forks and orphans, so altcoins are a good experiment to see how low can it go. The 10 minute interval is a nice round number that errs on the side of caution. It has nothing to do with you greed induced fantasies of interplanetary wealth and the dancing princess Leia on a chain.
How do you define beaten?
There will be more litecoin than Bitcoin so in terms of total coin Litecoin has won
In terms of how many people use each currency, well its hard to say exactly how many people will be using either so not really a fair test
In terms of market cap, it is likely that litecoin will follow bitcoin/4 based on the total number of each currency (so they would be about the same)
But... I would say, for now Bitcoin will remain top dog because, it is the original, has the most press surrounding it and simply because it is the most popular + expensive..
There will be more litecoin than Bitcoin so in terms of total coin Litecoin has won
In terms of how many people use each currency, well its hard to say exactly how many people will be using either so not really a fair test
In terms of market cap, it is likely that litecoin will follow bitcoin/4 based on the total number of each currency (so they would be about the same)
But... I would say, for now Bitcoin will remain top dog because, it is the original, has the most press surrounding it and simply because it is the most popular + expensive..
LTC is barely different. There will never be a huge paradigm shift just for small inclinations of differences.
LTC is going absolutely nowhere except for how far it has come under BTC.
LTC is going absolutely nowhere except for how far it has come under BTC.
People seem to think that having a faster block finding time is better (and makes LTC a better coin), but they fail to realize that with growing usage, there may be slow connections which can't recieve data quick enough to stay up to date with a 1 min block time. However, Bitcoin's 10 minute block finding time provides enough time for the block to be broadcasted into deep orbit to keep potential nodes up to date. Obviously there aren't any nodes in space, but the point is that "Satoshi Nakamoto" thought ahead enough to foresee potential distance or connection problems. Litecoin tries to solve the "slow" transaction problem by solving blocks irresponsibly quickly.
On top of that, BTC already has a much stronger market hold, and way more people recognize the name "Bitcoin."
On top of that, BTC already has a much stronger market hold, and way more people recognize the name "Bitcoin."
I don't think Litecoin offers enough advantages in comparison to BTC.
Maybe BBQCoin will win, they have such a tasty name :3
Maybe BBQCoin will win, they have such a tasty name :3
No it can't be beateN (learn how to write proper english).
BTC is very well known now, and it is probable that it will not fall under 50$ soon.
LTC will never get that far, because there need to be 10x the users and volatility.
BTC is very well known now, and it is probable that it will not fall under 50$ soon.
LTC will never get that far, because there need to be 10x the users and volatility.
There are many alternative coin coming out...
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