BITCOIN VS. LITECOIN (WHICH IS SAFER)

Birdy

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Quote from: cryto4rig on July 02, 2013, 12:53:28 PM

Well, considering LTC will soon gain much more attention than it already has, its market size wont be so small, so , not a very good argument there...

I will agree with you on this, if it doesn't crash hard after being added to Gox. But the chance it does is fairly high.

Bitcoin is fairly protected against a 51% attack by massive network power, too. So the advantage is insignificant.
(And I would argue, if Litecoin were as successful as Bitcoin we would have Litecoin Asics right now)
What else does Litecoin offer? faster confirmation time, that does come at a cost, too.

cryto4rig

newbie

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Quote from: Birdy on July 02, 2013, 12:47:10 PM

Quote from: cryto4rig on July 02, 2013, 12:39:54 PM

http://www.wired.co.uk/news/archive/2013-06/16/litecoin

Quote :

"Litecoin is orders of magnitude more secure than Bitcoin, due to its use of a cryptography technique called scrypt, which makes it very costly to attack due to the large amounts of memory involved."

There is also a video on youtube explaining it.

Gotta do your research kiddos Wink

It may or may not be safer from 51% attacks, but it's definitely not "magnitudes more secure than Bitcoin".
Also it's way more endangered to e.g. big price manipulation (due to the smaller market size).

Well, considering LTC will soon gain much more attention than it already has, its market size wont be so small, so , not a very good argument there...

drnachete

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then more interested in mining litecoins?

Birdy

sr. member

Activity: 364

Merit: 250

Quote from: cryto4rig on July 02, 2013, 12:39:54 PM

http://www.wired.co.uk/news/archive/2013-06/16/litecoin

Quote :

"Litecoin is orders of magnitude more secure than Bitcoin, due to its use of a cryptography technique called scrypt, which makes it very costly to attack due to the large amounts of memory involved."

There is also a video on youtube explaining it.

Gotta do your research kiddos Wink

It may or may not be safer from 51% attacks, but it's definitely not "magnitudes more secure than Bitcoin".
Also it's way more endangered to e.g. big price manipulation (due to the smaller market size).

cryto4rig

newbie

Activity: 28

Merit: 0

http://www.wired.co.uk/news/archive/2013-06/16/litecoin

Quote :

"Litecoin is orders of magnitude more secure than Bitcoin, due to its use of a cryptography technique called scrypt, which makes it very costly to attack due to the large amounts of memory involved."

There is also a video on youtube explaining it.

Gotta do your research kiddos Wink

thermos

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bitcoin for sure NYC;)

cryto4rig

newbie

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LiteCoin is actually much much more secure, just google search a comparison, they go into detail why.

Faerbit

newbie

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Bitcoin is supposed to be safer, since it has way more hashing power united under it's name. Of course this doesn't help against bugs in client or miner software, but since it is open-source software I would not worry to much. To be more sure about your virus maybe upload it to this site: virustotal.com Sometimes anti-virus does give false-positives, so checking it against various other scanning engines is wise (which is the purpose of virustotal). Also be sure to only use the official site (litecoin.org) for downloads (or compile the source yourself Wink

)

I like the aspect of litecoin that it has faster transaction validation, since it is too long on bitcoin.

cryptonibb

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If go that route, none is safe, as neither is digitally signed by a trusted party.

Nothing stops someone from modifying the codes and putting them somewhere in the wild for downloading.

juanph

newbie

Activity: 3

Merit: 0

Hey guys! which do you think is safer? BITCOIN OR LITECOIN?

I recently installed both cryptocurrency and i observed that litecoin has a trojan in it... My Norton 360 detected that there was a trojan installed at the guiminer scrypt.exe

be careful guys, I'd personally prefer bitcoins over litecoins..

what are your experiences?

Topic: BITCOIN VS. LITECOIN (WHICH IS SAFER) (Read 615 times)