Topic: If LTC is faster than BTC, Why Don't We Use It? - page 2. (Read 2980 times)

BTC, LTC & DOGE all have the exact same security, considering that Chinese Mining Pools Secure all 3 PoW coins with their ASICS.
Only real difference is the other 2 are faster & cheaper and have less price manipulation.


 

Like most alts, litecoin doesn't have the support. Btc may not be the best coin but I it was here first and holds the most support. It's the most secure network because it's the most widely adopted. It's the most widely adopted because its the most secure network.

Not being used now does not mean it can not be used in the future. Everything depends on the adoption, as Bitcoin is the most famous and has the largest community is easy to understand because it is more used, does not mean that this can change, there are other cryptos coming up with improvements over Bitcoin. They may or may not replace Bitcoin, it will depend on the adoption / community.

Litecoin has no where near the support of bitcoin. No merchants, smaller community. I dont know why people even bother with it. Look at the litecoin chart.

Initially it was because the fees were set higher than in bitcoin.

And then came doge and others which not only confirmed faster but had lower fees. So litecoin sort of blew it at the start with their high fee policy. Then add in that litecoin doesn't have a large community backing it the way bitcoin, doge and ether and others have, and the only reason litecoin is still around is because the chinese exchanges like it.

I agree with you.  If crypto were dominated by real usage, that is, by usage as a currency to buy stuff, then actual features such as speed would matter.  But they don't, because real usage is such a tiny part of crypto that it is essentially negligible at this point.  The stuff that supports market caps, volume and so on is "trying to make profit in a greater-fool game" with exchange-IOU, not even with genuine crypto coins.  As such, technical improvements have almost no impact, apart from the fact that they can be used to hype one coin over another.  Crypto is in a sad state, it is mainly a gambler's token, where fools try to get money out of eachother's pockets and call that "investing" or "trading", by buying and selling IOU on exchanges, and its actual usage is almost zilch.

If LTC is faster than BTC, Why Don't We Use It?  Thats easy. Because bitcoin is more profitable than litecoin. They really dont care how really fast ltc because they just want the profit. People loves to follow whats trending and ltc is not that popular. The price is what they care about. Not the technology or features.

It's all about adoption, there are many coins much faster than litecoin. For example FastCoin (10-12 sec block time), extreme (1s block time) etc. A coin is popular or not is not because of its block time, but because whether people adopt it or support it.

In my point of view, because people always want that thing which give them more profit, and everyone have trust on bitcoin other than all crypto currencies. And you are well said that if bitcoin down than definitely people take turn, and also they will be bought other crypto which has better price than bitcoin. 

My original 5 hour or more delay was caused by not paying attention and depositing from Coinbase to Poloniex to USDT.  They were nice enough to credit me.

Because LTC is a just copy-past, much hype and shit coin. I do not want to use a copy, which was made for fun by 5 minutes.
Also there are many coins besides LTC which are faster than LTC.  
Forget about LTC. Its a dead shit coin.

this part doesn't make any sense. i assume the delay you are referring to comes from bitcoin and the fact that low fee transactions are taking too long to confirm, if so it is because blocks are full and this can happen to any coin that has limit on the size of the blocks, and can be fixed by removing that restriction. (although as you can see reaching consensus is tough!)


how can a developer control price of the coin, specially an altcoin such as LTC, what you said is only true about coins that have a large amount of pre mine.

If you are taking consideration of only transaction getting faster confirmation then, when everyone start to use LTC then their transaction will also get delay. Their is no relation between transaction and the coin value. Coin value is created by the fundamentals. LTC is good coin but still it is run by a developer and it is controlled by them.

Hmm,
Nope, I use LTC & Doge over BTC, especially in-between exchanges.
Trust & Security for BTC & LTC & Doge is exactly the same.

Chinese mining pools control all 3 PoW coins, one is just as safe as the other.
(As long as you trust the Chinese not to screw you.)  


 

Even LTC is faster than BitcoinBTC still majority of the community here will choose bitcoin, due to it more convenient, secure and profitable than LTC or any altcoin in cyrpto currencies.

i am sure that litecoin is faster than bitcoin in transaction, but for the best, i don't think that litecoin is best than bitcoin. of course i use litecoin too but i used in trading only. for me, bitcoin is more easy to use for another purpose like to buy something, but litecoin needs to gets some work to be like bitcoin.

One reason why peoples not using litecoin regularly is just because bitcoin is still exist. When bitcoin is gone, litecoin will be dominate crypto currency. We don't use litecoin because the price is under $100, you can look back how bitcoin is not interested when the price is just $5.
And this happen on litecoin. Imho

LTC was 5x faster comparing with the bitcoin transaction.
The adoption has kept by bitcoin. alt just get a little portion.

Think of this..

I hear all the time bitching usually from the newer guys here.
They complain about them early adopters that got their coins cheap etc.
Sometimes they cry flash-mine or insta-mine and then they tend to ignore the coin .. like with LTC.

What will be the difference if you new guys got here and flash mined the new coin that was launched days ago and today's coin will not get adopted because the guys showing up here in a year or two will cry foul ?

You see the problem with adoption ?

You guys don't want to buy another person bags.
You think oh they got their coins cheap i 'm not buying them.. i will wait until he next new coin comes out and buy that one.

And the cycle continues.. and the lack of adoption.. and the intense childish immoral greed.
The vicious cycle of spinning on the rat wheel continues.

And don't forget..
If 10 people walk into a room with cash in hand.
A couple people will walk out with almost all of it.
Crypto can not create winners.. it mostly creates losers.. it's called math people.
And it only gets worse like a collapsing Pyramid scheme if you don't sustain an ever growing user base of victims to be the "bag-holder"

Crypto will in fact collapse with out a growing user base.
Which means each month there has to be a greater than last month amount of fresh blood coming in.. forever.
Or the overal scene dies off and people lose value etc.

The question is simple, because LTC is only a cheap copy and paste coin.

Bitcoin invented everything and some guys make than the copy coin with the name of Litecoin.