http://www.guardian.co.uk/technology/2013/jun/25/bitcoin-successors-litecoin-freicoin
Article from the guardian about LiteCoin and other for those who want more specifics on what LTC has to offer and why exactly it should be pushing through barriers to gain more value and attention not only to the crypto currency community.
"It isn't just technical characteristics that improve an alt-currency's chance of success. "If you did a statistical analysis of lots of different features, it seems to be a development team that wants to stick around and is reliable," says Johnathan Turrall, Fraser-Robinson's co-founder at MetaLair. He points to Litecoin (with Feathercoin as a strong contender for the second Scrypt-based slot), along with PPCoin, and Freicoin, based on strong development teams that communicate with their communities."
The thing we need to remember about Alts. here is that a fork, or alt. crypto will only have a chance at success if proper procedures were considered, implemented and carried out before and after their release, possibly the most important thing (as the above quote says" is the development behind the coin. The team responsible for the coins creation and further progress and community support.
Why do we see so many alts. here fail? We should all know the answer, but there is nothing behind them, they are no different than those before them other than a few changes in the code, block sizes, target rate etc...
But what happens when you have a team behind a coin that goes all out to make sure the coin has long term value and sustainability? You have a coin you are looking for, the reason we are all here is to get into this world of cryptos as most of you wish you did when BitCoin was practically worthless.
This can happen again and probably will. I believe we are seeing it with LTC right now, there are 1 or 2 more alts right now that also have the possibility to explode, but I will not say which, that debate is up to you. We all have our preferences, most of you choose a coin because of a name, logo, and just because you want to grab as much as you can to dump it shortly after for a small profit, but the reality is, when we have more attention focuses on 1 or 2 coins rather than literally dozens, the value goes up and in the long run you make Much more of your initial investment.
But it takes time, dedication and community support to get it out to the public for more support and acceptance.
Article from the guardian about LiteCoin and other for those who want more specifics on what LTC has to offer and why exactly it should be pushing through barriers to gain more value and attention not only to the crypto currency community.
"It isn't just technical characteristics that improve an alt-currency's chance of success. "If you did a statistical analysis of lots of different features, it seems to be a development team that wants to stick around and is reliable," says Johnathan Turrall, Fraser-Robinson's co-founder at MetaLair. He points to Litecoin (with Feathercoin as a strong contender for the second Scrypt-based slot), along with PPCoin, and Freicoin, based on strong development teams that communicate with their communities."
The thing we need to remember about Alts. here is that a fork, or alt. crypto will only have a chance at success if proper procedures were considered, implemented and carried out before and after their release, possibly the most important thing (as the above quote says" is the development behind the coin. The team responsible for the coins creation and further progress and community support.
Why do we see so many alts. here fail? We should all know the answer, but there is nothing behind them, they are no different than those before them other than a few changes in the code, block sizes, target rate etc...
But what happens when you have a team behind a coin that goes all out to make sure the coin has long term value and sustainability? You have a coin you are looking for, the reason we are all here is to get into this world of cryptos as most of you wish you did when BitCoin was practically worthless.
This can happen again and probably will. I believe we are seeing it with LTC right now, there are 1 or 2 more alts right now that also have the possibility to explode, but I will not say which, that debate is up to you. We all have our preferences, most of you choose a coin because of a name, logo, and just because you want to grab as much as you can to dump it shortly after for a small profit, but the reality is, when we have more attention focuses on 1 or 2 coins rather than literally dozens, the value goes up and in the long run you make Much more of your initial investment.
But it takes time, dedication and community support to get it out to the public for more support and acceptance.
Happy mining and investing, RESEARCH, look into the coin, STUDY the developers, see if it all holds together, COMPARE it to others, then make your decision on which way to throw your hashing power, because in the end that is what decided which will get pushed to the top.