Pages:
Author

Topic: Litecoin demonstrates how ridiculous Bitcoin is - page 4. (Read 4805 times)

donator
Activity: 1218
Merit: 1079
Gerald Davis
There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA.  If that happens LiteCoin provides no protection because it uses the exact same primitives.  The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.

That last mess up that fork had nothing to do with encryption. Ltc did not have that code and could not break in that way.

I never said it did but like "last time" any issue can be fixed baring a catastrophic break and if that happens since Litecoin is merely a shallow copy it will be equally destroyed.  Of course pointing out that Litecoin is so under developed that it was using an antiquated db system as an advantage is somewhat hilarious.

Quote
For 24 hours you could not use btc but i was able to use crypto coins with ltc.
Which amounted to absolutely nothing.  What merchant did you spend those LTC at?  

Quote
Having a backup is just smart.

Agreed but Litecoin isn't that backup.  It is too similar, it provides no novel solutions to Bitcoin issues or weaknesses.  If Bitcoin dies Litecoin is probably already circling the drain.
vip
Activity: 840
Merit: 1000
There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA.  If that happens LiteCoin provides no protection because it uses the exact same primitives.  The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.



That last mess up that fork had nothing to do with encryption. Ltc did not have that code and could not break in that way.

For 24 hours you could not use btc but i was able to use crypto coins with ltc.


Having a backup is just smart.
hero member
Activity: 784
Merit: 1000
Let me summarize the OP:

1.What some "Bitcoin cultists" believe must have something to do with what Bitcoin really is.

2.Two thing sharing the characteristics of having a large "market cap" and quick price rise must be similar in some other ways.

Nuff' said.
donator
Activity: 1218
Merit: 1079
Gerald Davis
There is no "mess up" that can't be fixed baring a break in RIPEMD-160, SHA-256 and/or ECDSA.  If that happens LiteCoin provides no protection because it uses the exact same primitives.  The fact that it uses a different algorithm in mining will provide no protection from a cryptographic break.

full member
Activity: 224
Merit: 100
One bitcoin to rule them all!
Litecoin isn't a "scam" and the fact that someone claims it so doesn't have any relevance on Bitcoin.

Litecoin simply lacks innovation and has no purpose.  It is too much a copy of Bitcoin to every grow to anything rivaling its big brother.

To be fair, all modern currencies are copies of the Chinese* one

*Or wherever they made the first modern kind of currency.
vip
Activity: 840
Merit: 1000
Litecoin isn't a "scam" and the fact that someone claims it so doesn't have any relevance on Bitcoin.

Litecoin simply lacks innovation and has no purpose.  It is too much a copy of Bitcoin to every grow to anything rivaling its big brother.

I'm not sure it is trying to "rival" BTC. It is just trying to be better and safer. LTC never forked itself like BTC did. If one day they mess up again and we can't fix it, LTC is all we have.

I just love crypto and want to have/use it no matter what so I hold both.
donator
Activity: 1218
Merit: 1079
Gerald Davis
Litecoin isn't a "scam" and the fact that (an unknown) someone claims it so doesn't have any relevance on Bitcoin.

Litecoin simply lacks innovation and has no purpose.  It is too much a copy of Bitcoin to every grow to anything rivaling its big brother.
vip
Activity: 840
Merit: 1000
In 2 years Litecoin has gone from zero to over 2 USD a coin, with a total market cap pushing 50 million USD. Bitcoin cultists frequently describe Litecoin as a scam, despite the fact that it is basically a modest reengineering of the existing Bitcoin protocol.

Litecoin is most certainly a scam, but it is cut from the same cloth as a far bigger scam.

lol, thanks for that
sr. member
Activity: 336
Merit: 250
In 2 years Litecoin has gone from zero to over 2 USD a coin, with a total market cap pushing 50 million USD. Bitcoin cultists frequently describe Litecoin as a scam, despite the fact that it is basically a modest reengineering of the existing Bitcoin protocol.

Litecoin is most certainly a scam, but it is cut from the same cloth as a far bigger scam.
Pages:
Jump to: