I see Litecoin as a "backup" to the Bitcoin blockchain.
In the unlikely case that something should go seriously wrong with Bitcoin (such as some pool dominating mining and misusing it, or the Bitcoin Foundation imposing unpopular changes), then people can switch quite easily to Litecoin because it's very similar (ie. same code base).
In my 35+ year computer experience, it's very important to have backups.
Topic: Can Litecoin hold the #2 spot? Doubtful..and here are the coins who will benefit - page 5. (Read 17814 times)
June 18, 2014, 12:54:32 PM
June 18, 2014, 11:23:09 AM
What makes litecoin so special?
Solid historical position being first altcoin of Bitcointhere is not a single coin as innovative as Litecoin apart from Bitcoin...
what does Bitcoin offer that Litecoin does not?
~CfA~
That is a trick question. The correct answer is Gold.
June 18, 2014, 10:40:35 AM
What makes litecoin so special?
Solid historical position being first altcoin of Bitcointhere is not a single coin as innovative as Litecoin apart from Bitcoin...
what does Bitcoin offer that Litecoin does not?
~CfA~
June 18, 2014, 09:41:15 AM
I don't think so, litecoin does not offer anything that bitcoin can't offer.
I don't see the need for any altcoin at all, but there are better coins that litecoin I'm sure. Some other coin will likely replace litecoin, although bitcoin is not likely to be replaced.
I don't see the need for any altcoin at all, but there are better coins that litecoin I'm sure. Some other coin will likely replace litecoin, although bitcoin is not likely to be replaced.
June 18, 2014, 09:17:09 AM
Yes there was a few alts before litecoin, mostly premined etc and other issues, which litecoin tried to improve on.
Equally though btc wasn't the first alt currency, cyber or cryptocurrency.
Equally though btc wasn't the first alt currency, cyber or cryptocurrency.
Yeah that's true, we tend to forget about that. Satoshi mentions "Hashcash" a few times in his white paper.
You're joking right?
Hashcash was never a currency. It's used in Bitcoin
You're quite right, sorry about that.
I'll let myself out.
June 18, 2014, 09:10:24 AM
Yes there was a few alts before litecoin, mostly premined etc and other issues, which litecoin tried to improve on.
Equally though btc wasn't the first alt currency, cyber or cryptocurrency.
Equally though btc wasn't the first alt currency, cyber or cryptocurrency.
Yeah that's true, we tend to forget about that. Satoshi mentions "Hashcash" a few times in his white paper.
You're joking right?
Hashcash was never a currency. It's used in Bitcoin
June 18, 2014, 09:05:55 AM
Yes there was a few alts before litecoin, mostly premined etc and other issues, which litecoin tried to improve on.
Equally though btc wasn't the first alt currency, cyber or cryptocurrency.
Equally though btc wasn't the first alt currency, cyber or cryptocurrency.
Yeah that's true, we tend to forget about that. Satoshi mentions "Hashcash" a few times in his white paper.
June 18, 2014, 09:02:21 AM
This is super wrong. There are at least 5, if not 10, other altcoins created before Litecoin.
good thing that this is wrong, it demostrates value, litecoin succeded where previous altcoins failed.
June 18, 2014, 08:24:54 AM
What makes litecoin so special?
Solid historical position being first altcoin of BitcoinYes there was a few alts before litecoin, mostly premined etc and other issues, which litecoin tried to improve on.
Equally though btc wasn't the first alt currency, cyber or cryptocurrency.
June 18, 2014, 08:07:41 AM
What makes litecoin so special?
Solid historical position being first altcoin of Bitcoin
June 18, 2014, 08:00:46 AM
That won't last forever will it now? That's the only reason for which LTC is 2nd.
How about applying the same argument to Bitcoin? What makes it so special?
June 18, 2014, 07:59:44 AM
I think it will go below 0.015 certainly. Maybe even below 0.01 again.
I am still amazed how people value a coin. How can you mine it? With CPU, GPU or ASICs. ASICs makes a coin more secure. But only in that way that it is more difficulty to try attacks with botnets. The security of a coins does not depend on hashrate. It depends on the money an attacker has to invest to get a 51% majority.
So, how does ASIC destroy Litecoin? Do you value a camera more which can not be produced with means of mass production? The only concern is that ASICs lead to centralisation. But are the pools in Litecoin more distributed? In the long run, when the coin gains in price value there will be more and more miners. And the hardware will succeed which is the most efficient. Small miners have no chance. Do you think I mine Primecoin because it is only CPU? Fuck off! I have no chance to make a profit with my notebook running 24/7 with full power... And if, this would be 1-2 Cents per day. Noone would do that.
So what attributs has Litecoins over Bitcoin?
Let's be realistic. None! Even the 2.5min vs. 10min block time is nothing. Noone will wait for a confirmation if you buy small stuff anonymous. And if you buy big stuff you are not anonymous anyway. You make contract.
I am still amazed how people value a coin. How can you mine it? With CPU, GPU or ASICs. ASICs makes a coin more secure. But only in that way that it is more difficulty to try attacks with botnets. The security of a coins does not depend on hashrate. It depends on the money an attacker has to invest to get a 51% majority.
So, how does ASIC destroy Litecoin? Do you value a camera more which can not be produced with means of mass production? The only concern is that ASICs lead to centralisation. But are the pools in Litecoin more distributed? In the long run, when the coin gains in price value there will be more and more miners. And the hardware will succeed which is the most efficient. Small miners have no chance. Do you think I mine Primecoin because it is only CPU? Fuck off! I have no chance to make a profit with my notebook running 24/7 with full power... And if, this would be 1-2 Cents per day. Noone would do that.
So what attributs has Litecoins over Bitcoin?
Let's be realistic. None! Even the 2.5min vs. 10min block time is nothing. Noone will wait for a confirmation if you buy small stuff anonymous. And if you buy big stuff you are not anonymous anyway. You make contract.
June 18, 2014, 07:32:25 AM
The walls have been pecked at, and the wall owner moved them lower, whatever was left of them.
Yup, what was a 1100 BTC buy wall is less than 50 now. Defend and retreat.
June 18, 2014, 07:30:31 AM
What makes litecoin so special?
Solid historical position being first altcoin of Bitcoin
~CfA~
How about applying the same argument to Bitcoin? What makes it so special?
June 18, 2014, 07:28:35 AM
What makes litecoin so special?
Solid historical position being first altcoin of Bitcoin
~CfA~
June 18, 2014, 07:26:08 AM
The walls have been pecked at, and the wall owner moved them lower, whatever was left of them.
Thanks, apparently the 1575 wall completely fed to and 1555 partially before price recovered. The wall support for LTC is by far the best of any coin in my opinion. It is not like you need to keep that cold storage wallet handy when it comes to LTC. You know even if there is going to be panic, there will be plenty of time because there will be proper walls always.
June 18, 2014, 07:17:06 AM
The walls have been pecked at, and the wall owner moved them lower, whatever was left of them.
June 18, 2014, 07:15:39 AM
LTCers are making a stand...
Now there is another 500 btc wall at .0155
1000+ BTC buy wall between .01575 and .0155
But i guess it depends on whether the wall will continue to move.
Now there is another 500 btc wall at .0155
1000+ BTC buy wall between .01575 and .0155
But i guess it depends on whether the wall will continue to move.
Anyone know if these buy walls were ninja-fed overnight or they have just been removed?
with long-awaited ASICs introduced to the market there is only one way for Litecoin and that is up.
~CfA~
ASICs have been there since Feb/March. It may go above I understand that
Just curious about the walls from yesterday. June 18, 2014, 07:05:22 AM
LTCers are making a stand...
Now there is another 500 btc wall at .0155
1000+ BTC buy wall between .01575 and .0155
But i guess it depends on whether the wall will continue to move.
Now there is another 500 btc wall at .0155
1000+ BTC buy wall between .01575 and .0155
But i guess it depends on whether the wall will continue to move.
Anyone know if these buy walls were ninja-fed overnight or they have just been removed?
with long-awaited ASICs introduced to the market there is only one way for Litecoin and that is up.
~CfA~
June 18, 2014, 07:04:39 AM
LTCers are making a stand...
Now there is another 500 btc wall at .0155
1000+ BTC buy wall between .01575 and .0155
But i guess it depends on whether the wall will continue to move.
Now there is another 500 btc wall at .0155
1000+ BTC buy wall between .01575 and .0155
But i guess it depends on whether the wall will continue to move.
Anyone know if these buy walls were ninja-fed overnight or they have just been removed?
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