Topic: How is bitcoin better than litecoin? - page 6. (Read 11725 times)
Simple answer bitcoin is more famous than litecoin
This is pretty much it. Bitcoin was first and it is more publicly known. The average people get scared to learn about more than one cryptocurrency, they are happy to have "understood" how the first one worked.
Bitcoin could use a different algorithm, different block size, everything else could be different until it was the first one. If it came second, it would be the other way around.
first of all bitcoin has a lot more users secondly more companies accept it thirdly the price of it is much bigger and can easier grow as more and more people use it
legendary
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wiki leaks now accepting litecoin so score one for them
There is a movie called bitcoin
More like 15 years or so, but that's just a pointer to how much faster technology has been progressing over the last couple of centuries, with a usually-increasing RATE of change as well.
I also question that "cloud" has supplanted anything yet - it's trying, but there are still a LOT of minuses to it and a lot of us that flat out don't TRUST the cloud due to those minuses.
But back to the original question - when Litecoin manages even HALF of the adoption rate of Bitcoin by real-world merchants (I do count net merchants in that, given how much I've bought from Newegg and others over the last decade) THEN it might be a viable competator. Even one TENTH might be enough to make it viable for the long term, but iffy.
Right now I don't know of ANY major merchant that accepts Litecoin - as long as that continues, Litecoin (like ALL of the other altcoins) has no chance of long-term survival, much less turning out to be competition to Bitcoin.
It's not that I don't LIKE Litecoin - I paid for several video cards back when GPU mining was viable through mining income from it, and even managed to ROI 2 of my 3 Gridseed blades (the third was at the $1600ish level, I doubt that one will EVER ROI though it's still marginally profitable).
It's that Litecoin is .... well, not a joke compared to Bitcoin, but not far away from being one.
I just don't see the long-term market having much use for more than 1 cryptocurrency unless the competators provide REAL WORLD advantages in different ways to each other. So far, I don't see that out of ANY of the current altcoins - they all seem at best to a destiny of a "small niche" alternative.
Fancy "technological better" points tend to mean NOTHING to most of the public, which is WHY the better technology but greatly inferior marketing of Betamax LOST the VCR wars to the "good enough" VHS.
That is also why Windows remains the dominant desktop OS, even though several "technologically better" alternatives exist and have existed in the past - Windows is "good enough" and VERY VERY well marketed.
This is not to say that Bitcoin will REMAIN the 800 pound gorilla - it's got some issues of it's own that are starting to get some serious notice, that will eventually limit it's ABILITY for wider adoption if they are not corrected. The "number of transactions" issue has already been getting some active attention (and fights about fixing it), the insane SIZE of the blockchain is a major issue (with some workarounds, but those workarounds have issues themselves), the long time to confirm a transaction (makes it bloody close to USELESS in a non-online retail environment), the eventual elimination of block rewards that will probably kill mining and make confirmations take forever, make me inclined that BitCoin is open to losing out to someone creating a TRUE better answer.
I also question that "cloud" has supplanted anything yet - it's trying, but there are still a LOT of minuses to it and a lot of us that flat out don't TRUST the cloud due to those minuses.
But back to the original question - when Litecoin manages even HALF of the adoption rate of Bitcoin by real-world merchants (I do count net merchants in that, given how much I've bought from Newegg and others over the last decade) THEN it might be a viable competator. Even one TENTH might be enough to make it viable for the long term, but iffy.
Right now I don't know of ANY major merchant that accepts Litecoin - as long as that continues, Litecoin (like ALL of the other altcoins) has no chance of long-term survival, much less turning out to be competition to Bitcoin.
It's not that I don't LIKE Litecoin - I paid for several video cards back when GPU mining was viable through mining income from it, and even managed to ROI 2 of my 3 Gridseed blades (the third was at the $1600ish level, I doubt that one will EVER ROI though it's still marginally profitable).
It's that Litecoin is .... well, not a joke compared to Bitcoin, but not far away from being one.
I just don't see the long-term market having much use for more than 1 cryptocurrency unless the competators provide REAL WORLD advantages in different ways to each other. So far, I don't see that out of ANY of the current altcoins - they all seem at best to a destiny of a "small niche" alternative.
Fancy "technological better" points tend to mean NOTHING to most of the public, which is WHY the better technology but greatly inferior marketing of Betamax LOST the VCR wars to the "good enough" VHS.
That is also why Windows remains the dominant desktop OS, even though several "technologically better" alternatives exist and have existed in the past - Windows is "good enough" and VERY VERY well marketed.
This is not to say that Bitcoin will REMAIN the 800 pound gorilla - it's got some issues of it's own that are starting to get some serious notice, that will eventually limit it's ABILITY for wider adoption if they are not corrected. The "number of transactions" issue has already been getting some active attention (and fights about fixing it), the insane SIZE of the blockchain is a major issue (with some workarounds, but those workarounds have issues themselves), the long time to confirm a transaction (makes it bloody close to USELESS in a non-online retail environment), the eventual elimination of block rewards that will probably kill mining and make confirmations take forever, make me inclined that BitCoin is open to losing out to someone creating a TRUE better answer.
Betamax was a type of VCR.
You'r probably thinking of the VHS vs. Betamax war, which isn't really comparable (the higher quality Betamax format LOST the war due to better marketing of "good enough" on the part of the VHS side).
Eventually, BOTH sides of that war lost out to recordable DVD....
You'r probably thinking of the VHS vs. Betamax war, which isn't really comparable (the higher quality Betamax format LOST the war due to better marketing of "good enough" on the part of the VHS side).
Eventually, BOTH sides of that war lost out to recordable DVD....
DVD recorders didn't exist until 20 years after the Betamax vs VHS format war was decided. You can say recordable DVD lost out to recordable BluRay which lost out to hard disk recording which lost out to cloud recording. These changes happened much faster than the change from VCR's to DVD recorders.
I know Bitcoin is better than Litecoin with bigger market cap, network and all that. But there are few things bitcoin should learn from Litecoin.
https://99bitcoins.com/this-is-why-bitcoin-should-learn-from-litecoin/
https://99bitcoins.com/this-is-why-bitcoin-should-learn-from-litecoin/
Betamax was a type of VCR.
You'r probably thinking of the VHS vs. Betamax war, which isn't really comparable (the higher quality Betamax format LOST the war due to better marketing of "good enough" on the part of the VHS side).
Eventually, BOTH sides of that war lost out to recordable DVD....
You'r probably thinking of the VHS vs. Betamax war, which isn't really comparable (the higher quality Betamax format LOST the war due to better marketing of "good enough" on the part of the VHS side).
Eventually, BOTH sides of that war lost out to recordable DVD....
Anybody who has heard of litecoin has definitely heard of Bitcoin.
The converse isn't true.
Bitcoin is truly the gold standard in cryptocurrencies.
The converse isn't true.
Bitcoin is truly the gold standard in cryptocurrencies.
Bitcoin is the real deal. Litecoin is the imitator. Says so right in the name. Branding is everything.
That's true and people have just started to believe in bitcoins as a currency, so it is difficult that very soon they switch over to such a currency which is comparatively very new. And as there are many people who still doesn't have faith in bitcoins so for them litecoin is far away, As the users of bitcoin itself would think twice before investing in litecoins.
Bitcoin is the real deal. Litecoin is the imitator. Says so right in the name. Branding is everything.
That's like comparing the VCR to the Betamax. Ba-da-boom, ba-da bing!
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
bitcoin was there first, has the largest push behind it, has all the peripheral businesses, and has the tech on it's side.
what would happen if a few corporations decide to buy up litecoin just because is cheaper and is second to bitcoin, would large part of the bitcoin backers turn into litecoin backers has well if litecoin reaches 150 usd or so?
I don't think that kind of forced push would be sustainable. The Bitcoin ecosystem of investors, merchants, and miners is hard to duplicate, and personally I don't think it will be without major new innovations.
Simple answer bitcoin is more famous than litecoin
bitcoin was there first, has the largest push behind it, has all the peripheral businesses, and has the tech on it's side.
what would happen if a few corporations decide to buy up litecoin just because is cheaper and is second to bitcoin, would large part of the bitcoin backers turn into litecoin backers has well if litecoin reaches 150 usd or so?
Market acceptance.
Nothing else matters if very few or no merchants will accept it.
Bitcoin appears to have more market acceptance than ALL OTHER CRYPTOCOINS COMBINED by a fairly wide margin.
Nothing else matters if very few or no merchants will accept it.
Bitcoin appears to have more market acceptance than ALL OTHER CRYPTOCOINS COMBINED by a fairly wide margin.
Daddy is Daddy.
Bitcoin is introduced first and is more popular then any other digital currencies, and people have more faith in bitcoins as compared to any other crypto. And majority of merchants accepts bitcoins as a mode of payment. I have rarely seen any accepting litecoin as a mode of payment. And it will keep on increasing in the coming future.
bitcoin was there first, has the largest push behind it, has all the peripheral businesses, and has the tech on it's side.
Market acceptance.
Nothing else matters if very few or no merchants will accept it.
Bitcoin appears to have more market acceptance than ALL OTHER CRYPTOCOINS COMBINED by a fairly wide margin.
Nothing else matters if very few or no merchants will accept it.
Bitcoin appears to have more market acceptance than ALL OTHER CRYPTOCOINS COMBINED by a fairly wide margin.
Bitcoin is the recognizable face of cryptocurrency.
Litecoin, not so much. Litecoin serves now as a low entry price point for investing in the crypto world.
Litecoin, not so much. Litecoin serves now as a low entry price point for investing in the crypto world.
And bitcoin is priced 50x the price of litecoin because of being the #1. It seems like quite a gap in pricing though it wouldn't take that much for litecoin to become equally used.
litecoin needs 500x more effort to be accepted as much as bitcoin is accepted and then it's price might increase to bitcoin levels.
besides as long as litecoin price is controlled by pump and dumps, like what has been happening in the last month, nobody is going to think of litecoin more than an altcoin which is being pumped.
Yes, I know this one is hard for someone to swallow. But it is the truth.
Litecoin is just another altcoin.
True, but on the back of everyone's mind it will always have that special place as THE altcoin, the original altcoin. So I can see why Litecoin may disappear and always have a relative value to Bitcoin, and maybe be used as a tool when people is paranoid about Bitcoins future even tho there's nothing to fear (example, when we had the blockchain splits crisis).
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