Topic: BTC or LTC? - page 3. (Read 2893 times)
I think people who have invested heavily in the GPU miners will migrate to LTC.
Out of the two? BTC. Mainly because of adoption.
I prefer BTC. BTC has got more demand and you can buy more stuff with BTC.
BTC, it rises faster, check simply the LTC/BTC ratio.
I personally prefer BTC but LTC may rise in price too. Not as much as BTC but it will be higher than what it is currently.
Rumour has it that Mt Gox will soon start dealing in Litecoins, and that when that happens the price will go up. I have converted a couple of bitcoins to LTC on BTC-e inthe hope that the rumour is true. But I plan to keep a stake in both.
I prefer Bitcoin because of it's higher worth and that it's more common.
Once LTC stops being dependent on BTC in the exchanges it should takeoff, it's more stable than many of the other currencies, including BTC. Also it has better potential for mining since it's immune from ASICs, once ASICs are commonplace, scrypt currencies will be the only profitable ones out there in reach of regular people. BTC is more supported because it was first, but as time progresses, I think we'll see more support for other currencies.
I find it amusing that people still say that litecoin is immune from ASIC mining. When it was originally launched, it was purported to be immune to GPUs, FPGAs, and ASICs. Then, someone figured out how to mine it with GPUs. But everyone still said hey, at least it's immune to FPGAs and ASICs. And then someone started talking about how they're designing an FPGA system for it, and now everyone's saying it's still immune to ASICs. The magic of litecoin is that it's LESS amendable to these types of mining than bitcoin. Not that it's IMMUNE. As in, you'll get less advantage from them. But you'll still get a boost. What scrypt HAS achieved is the possibility of EXTENDING the low end mining of a coin, not the INABILITY of a coin to be mined by the higher end hardware.
Once LTC stops being dependent on BTC in the exchanges it should takeoff, it's more stable than many of the other currencies, including BTC. Also it has better potential for mining since it's immune from ASICs, once ASICs are commonplace, scrypt currencies will be the only profitable ones out there in reach of regular people. BTC is more supported because it was first, but as time progresses, I think we'll see more support for other currencies.
Mining-wise, LTC seems to be easier to jump into now. Mining a single BTC takes forever. with LTC you get them what seems sooner (even if it turns out to be the same in the end).
Plus I feel like LTC is more stable.
Plus I feel like LTC is more stable.
Bitcoin is my choice. Any other cryptocur has to have significant changes to take the crown from btc.
What are the challenges people face with Bitcoin mining that pushes them toward mining for Litecoin, like are the hardware requirements really that different?
The biggest issue with Bitcoin mining is that everyone is doing it, the network size is huge, and as a result, the difficulty is very high. That, in addition to the recent reward drop per block makes it harder to find a graphics card that can mine more bitcoins than you would have to spend on your power bill to keep it running.
Litecoins, on the other hand, can still be easily mined with a lot of the lower end cards at a profit. Of course, if the price of Bitcoins goes up, it could be possible to profitably mine with cards that aren't viable now, but historically, Litecoins tend to follow Bitcoins as far as price changes, and so even if the price of bitcoins went up, it would probably still be more profitable to mine litecoins.
What are the challenges people face with Bitcoin mining that pushes them toward mining for Litecoin, like are the hardware requirements really that different?
the currency that will succeed is the one than can integrate all others, since there are so many nowadays.
i dont think the other cryptocurrenices are going to take off, honestly
Which do you prefer and why?
not enough market share for Litecoin to compete. maybe in a few years
LTC seems to usually have a higher profitability rating than BTC. I'm mining LTC and plan to exchange them for BTC eventually.
I mine one or other at different times based on whether one or the other converts better to USD at that time. Basiclaly, I calculate a USD/watt figure and I go with the one that pays better until that shifts the other way.
I prefer bitcoins cos at the moment are the most widely accepted. Litetcoin still has way to go... But that may change soon if MtGox starts trading them...
I voted both, i think both bring differing dimensions to the table and both have the opportunity to co-exist together. I'm not wholly keen on alt-coins that do not have alternating functionality however.
Litecoin DOES have an alternate functionality, in that it uses a different algorithm which makes it harder to mine with non cpu/gpu devices, although i will not say impossible like some other people have. Not a huge difference, but I think it is still significant enough for it to be valid.
Exactly, i agree with that. Think you misread me. I do think that alt-coins that have alternate functionality, such as Litecoin and PPCoin, do have the potential to long term co-exist with Bitcoin. The other 'forks' that do not, of which i could mention numerous, will not exist long term, IMHO.
There IS one difference between every new fork and the old one. Specifically, how easy it is to mine. That is the main reason that I do LTC, because it's POSSIBLE for me to mine it at a profit. That's an issue I've seen discussed here many times, but never to a good conclusion. LTC is going to be mined longer than BTC is, because there will be profit in it for a longer time. Which is important, if you ever want to change your coins for anything else.
I tried novacoin for a bit, but backed off when I started noticing all the hostility to it. Not because I think it's not a good and valid idea, but because a lot of the vitrol I saw directed at it gave me concerns that there might be a lot of people who were, perhaps not trying to pull it down, but maybe ready to give it a nudge if it started teetering.
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