I am new to the whole scene, been using both for a few months now.
Why i think litecoin is better - in order of importance, and all in my opinion:
1) much faster transaction times, much much faster
2) litecoins are not nearly as concentrated in such a few hands as far as i can tell from my short research.
3) harder to mine litecoins with ASICS (never say never, it will one day be done, but they will be slower ASICS compared to bitcoin), therefore mining should hopefully stay more distributed to the general public instead of a few heavy hitters.
comments?
Why i think litecoin is better - in order of importance, and all in my opinion:
1) much faster transaction times, much much faster
2) litecoins are not nearly as concentrated in such a few hands as far as i can tell from my short research.
3) harder to mine litecoins with ASICS (never say never, it will one day be done, but they will be slower ASICS compared to bitcoin), therefore mining should hopefully stay more distributed to the general public instead of a few heavy hitters.
comments?
(1) isn't true. You need so much work burying your transaction for it to be "confirmed" - i.e. have a desired probability that it will not be reversed. This isn't measured by number of blocks, but time and total network hash rate, and Bitcoin has a _much_ higher hash rate.
(2) clearly isn't true either, as there are _many_ more bitcoin users currently.
Regarding (3), there are advantages to requiring miners to use specialized, single-purpose machinery. Dissuading botnet mining is one. Another is that it makes miners have more "skin in the game", causing them to care about the health of the network that much more - their mining equipment becomes worthless in the event of failure of the mining algorithm.
Edit: by "failure of the mining algorithm" I mean an attacker obtaining a significant majority of the hashing power.
Don't see why we can't have both Litecoin and Bitcoin, what I don't want to see is paper money still being widely used in the next few years, I do think there are problems with Bitcoin compared to Litecoin but they'll either get fixed or something even better will come along. 
