Topic: What exactly is wrong with LTC? - page 5. (Read 6653 times)
you got me
Can you name me one thing that you can buy with BTC, that you cant buy with LTC?
LTC?
The biggest problem is the lack of useful things you can do with a litecoin.
Outside of trading it against other currencies it has no real ecosystem.
Outside of trading it against other currencies it has no real ecosystem.
as someone said before me...
Silver, Fast food, pizza, anything on amazon, computer hardware, sexy panties, clothing, dildos, flowers, anything at walmart, coffee, visa gift cards, hell you can even buy sex legally... and this is just at MY website. There are others that offer more. Lots of places to buy hosting.
Can you name me one thing that you can buy with BTC, that you cant buy with LTC?
I think the main problem is that a lot of people are unaware how much ltc has grown, and how strong the community behind it is.
I think that BTC "needs" at least one alt coin. having all your eggs in one basket is dangerous.
I refuse to use other cryptocurrencies simply because I want one of them to get really mainstream. Right now, Bitcoin is the leader when it comes to popularity, and the more people use Bitcoin, the more things I do with my Bitcoin.
No offense to LTC, it's just, why would I use it if I could use Bitcoin? There's already only very few things I can buy with it. A currency needs people using it to become useful. If only my dog accepts my SunnyCoins, I may as well not even have them. And yes, my dog has a little dog computer to browse the dogwebs.
On the other hand, if people suddenly started using LTC more than BTC...
No offense to LTC, it's just, why would I use it if I could use Bitcoin? There's already only very few things I can buy with it. A currency needs people using it to become useful. If only my dog accepts my SunnyCoins, I may as well not even have them. And yes, my dog has a little dog computer to browse the dogwebs.
On the other hand, if people suddenly started using LTC more than BTC...
if that happens, you'll be S.O.L, because you didn't have the foresight to diversify
I have looked into ripple very little, but what I have seen I didn't like. I will look at it a little deeper.
Bitcoin is a new standard for digital payments. Litecoin is just an alternative that does the same thing. There could be hundreds of clones made.
Now imagine if for data transfer cables people didn't only use USB (I know there are some alternatives)but hundreds of alternatives. How handy would that be? How much would you like yet another alternative that didn't add any extra speed to the data transfer compared to USB? The more everybody standardizes to 1 format, the better. Same for power plugs etc. .
Now imagine if for data transfer cables people didn't only use USB (I know there are some alternatives)but hundreds of alternatives. How handy would that be? How much would you like yet another alternative that didn't add any extra speed to the data transfer compared to USB? The more everybody standardizes to 1 format, the better. Same for power plugs etc. .
Ah but Ripple is coming, so no one need care which of huindreds or thousands or millions of different currencies people choose to use to pay them with since it will all get converted automagically by the Ripple system into whatever kind they happen to prefer, via whichever bank or other gateway they prefer or even directly to their addresses on their favourite blockchain via a Ripple-to-Blockchain gateway.
So don't worry about it, let your customers choose what weird currency you maybe never even heard of they want to pay you with, just tell Ripple what currency you want to recieve, set your prices in that currency, and go on about your business.
-MarkM-
There's nothing wrong with LTC.
LTC is BTC's understudy. If something catastrophic happened to BTC, LTC is ready to act as a substitute for the duration of the emergency.
LTC also provides an ASIC-proof form of cryptocash, giving GPU miners something to do after the Lunar New Year celebration.
LTC is BTC's understudy. If something catastrophic happened to BTC, LTC is ready to act as a substitute for the duration of the emergency.
LTC also provides an ASIC-proof form of cryptocash, giving GPU miners something to do after the Lunar New Year celebration.
No thought on LTC stabilizing BTC? You will be able to use litecoin everywhere you can use BTC in the future so if you have a choice why not choose the coin that processes faster and is easier to obtain.
The biggest problem is the lack of useful things you can do with a litecoin.
Outside of trading it against other currencies it has no real ecosystem.
Outside of trading it against other currencies it has no real ecosystem.
What is USEFUL?
Silver?
Pizza?
Clothing?
Hardware?
I've bought and sold all of the above with Litecoin so far. So can't say that there is no usefulness.
I see LTC being a good alternative for the online microtransaction ecosystem, allowing near-instant digital payments at microscopic scales. While BTC could handle this niche also, the longer block times mean longer waits for digital purchases that need at least 1 confirmation.
Just my 2¢ (which apparently gets rounded to 5¢ now in Canada
)
Just my 2¢ (which apparently gets rounded to 5¢ now in Canada
) 
Nonsense, of course. It's exactly the other way around. Hackers and darknet users won't become the "sole users" of anything, they will go wherever there is a viable currency. If that's LTC (which is extremely doubtful) then that's where they'll migrate to.
The logic in the previous post is precisely upside down.
The logic in the previous post is precisely upside down.
not if litecoin exchanges all do the customer due diligence, AMLKYC stuff to ensure that it stays legit and honourable for merchants to trust using it.. then the anonymous community wont want to touch it.
there's some logic.
So what is wrong with LTC why do people hate on them? Is the structure of the coin sound? Does it have a design flaw? What is the deal with the high sending fee for small amounts of LTC? Is the price stable? Do the price move more evenly than BTC?
So far like it. I was thinking of only selling LTC and letting my customers exchange for BTC on BTC-e. Does anyone see any problem with doing that? Any advice is appreciated. Thanks
So far like it. I was thinking of only selling LTC and letting my customers exchange for BTC on BTC-e. Does anyone see any problem with doing that? Any advice is appreciated. Thanks
Litecoin wasn't first.
http://en.wikipedia.org/wiki/Network_effect
So who cares?
Bitcoin is a new standard for digital payments. Litecoin is just an alternative that does the same thing. There could be hundreds of clones made.
Now imagine if for data transfer cables people didn't only use USB (I know there are some alternatives)but hundreds of alternatives. How handy would that be? How much would you like yet another alternative that didn't add any extra speed to the data transfer compared to USB? The more everybody standardizes to 1 format, the better. Same for power plugs etc. .
Yup copies can be made...but agreement by communities that it is a store of value and that the miners secure it will make it stand out from the rest.
litecoin is like bitcoin in some ways.. comparing where things were at the same age of under a year and a half, there values were very similar.. bitcoin moved into the SR economy, where as litecoin is now growing some merchant tools and services to attempt at a clean mainstream direction without any of the negative bitcoin propaganda.
also selling the bitcoin concept to miners is soon going to be obsolete as people trying to make it rich with just GPU's from their home computers on bitcoin wont happen. that's where litecoin will still gather more fresh faces and interest.
it may become that litecoin gathers some recognition as the introduction coin where people begin to mine, sell it for a few items available , and then make enough profit to buy an asic to enter the big coin industry.
it may be that all the hackers and darknet users become the sole users of bitcoin and genuine businesses move to the cleaner coin.
anything can happen. and thats the great thing about these coins. freedom of change, freedom of movement, freedom of choice.
and anyone that loves bitcoin to such an extent that they will try tarnishing other coins is not really into the whole concept of freedom.
thats why im in both boats.
also selling the bitcoin concept to miners is soon going to be obsolete as people trying to make it rich with just GPU's from their home computers on bitcoin wont happen. that's where litecoin will still gather more fresh faces and interest.
it may become that litecoin gathers some recognition as the introduction coin where people begin to mine, sell it for a few items available , and then make enough profit to buy an asic to enter the big coin industry.
it may be that all the hackers and darknet users become the sole users of bitcoin and genuine businesses move to the cleaner coin.
anything can happen. and thats the great thing about these coins. freedom of change, freedom of movement, freedom of choice.
and anyone that loves bitcoin to such an extent that they will try tarnishing other coins is not really into the whole concept of freedom.
thats why im in both boats.
Someone with a brain, thank god. Great post.
Nonsense, of course. It's exactly the other way around. Hackers and darknet users won't become the "sole users" of anything, they will go wherever there is a viable currency. If that's LTC (which is extremely doubtful) then that's where they'll migrate to.
The logic in the previous post is precisely upside down.
So what is wrong with LTC why do people hate on them? Is the structure of the coin sound? Does it have a design flaw? What is the deal with the high sending fee for small amounts of LTC? Is the price stable? Do the price move more evenly than BTC?
So far like it. I was thinking of only selling LTC and letting my customers exchange for BTC on BTC-e. Does anyone see any problem with doing that? Any advice is appreciated. Thanks
So far like it. I was thinking of only selling LTC and letting my customers exchange for BTC on BTC-e. Does anyone see any problem with doing that? Any advice is appreciated. Thanks
Litecoin wasn't first.
http://en.wikipedia.org/wiki/Network_effect
So who cares?
Bitcoin is a new standard for digital payments. Litecoin is just an alternative that does the same thing. There could be hundreds of clones made.
Now imagine if for data transfer cables people didn't only use USB (I know there are some alternatives)but hundreds of alternatives. How handy would that be? How much would you like yet another alternative that didn't add any extra speed to the data transfer compared to USB? The more everybody standardizes to 1 format, the better. Same for power plugs etc. .
So what is wrong with LTC why do people hate on them? Is the structure of the coin sound? Does it have a design flaw? What is the deal with the high sending fee for small amounts of LTC? Is the price stable? Do the price move more evenly than BTC?
So far like it. I was thinking of only selling LTC and letting my customers exchange for BTC on BTC-e. Does anyone see any problem with doing that? Any advice is appreciated. Thanks
So far like it. I was thinking of only selling LTC and letting my customers exchange for BTC on BTC-e. Does anyone see any problem with doing that? Any advice is appreciated. Thanks
Litecoin wasn't first.
http://en.wikipedia.org/wiki/Network_effect
So who cares?
New users.
litecoin is like bitcoin in some ways.. comparing where things were at the same age of under a year and a half, there values were very similar.. bitcoin moved into the SR economy, where as litecoin is now growing some merchant tools and services to attempt at a clean mainstream direction without any of the negative bitcoin propaganda.
also selling the bitcoin concept to miners is soon going to be obsolete as people trying to make it rich with just GPU's from their home computers on bitcoin wont happen. that's where litecoin will still gather more fresh faces and interest.
it may become that litecoin gathers some recognition as the introduction coin where people begin to mine, sell it for a few items available , and then make enough profit to buy an asic to enter the big coin industry.
it may be that all the hackers and darknet users become the sole users of bitcoin and genuine businesses move to the cleaner coin.
anything can happen. and thats the great thing about these coins. freedom of change, freedom of movement, freedom of choice.
and anyone that loves bitcoin to such an extent that they will try tarnishing other coins is not really into the whole concept of freedom.
thats why im in both boats.
also selling the bitcoin concept to miners is soon going to be obsolete as people trying to make it rich with just GPU's from their home computers on bitcoin wont happen. that's where litecoin will still gather more fresh faces and interest.
it may become that litecoin gathers some recognition as the introduction coin where people begin to mine, sell it for a few items available , and then make enough profit to buy an asic to enter the big coin industry.
it may be that all the hackers and darknet users become the sole users of bitcoin and genuine businesses move to the cleaner coin.
anything can happen. and thats the great thing about these coins. freedom of change, freedom of movement, freedom of choice.
and anyone that loves bitcoin to such an extent that they will try tarnishing other coins is not really into the whole concept of freedom.
thats why im in both boats.
Someone with a brain, thank god. Great post.
litecoin is like bitcoin in some ways.. comparing where things were at the same age of under a year and a half, there values were very similar.. bitcoin moved into the SR economy and grew, where as litecoin is now growing some merchant tools and services to attempt at a clean mainstream direction without any of the negative bitcoin propaganda.
also selling the bitcoin concept to miners is soon going to be obsolete as people trying to make it rich with just GPU's from their home computers on bitcoin wont happen. that's where litecoin will still gather more fresh faces and interest.
it may become that litecoin gathers some recognition as the introduction coin where people begin to mine, sell it for a few items available , and then make enough profit to buy an asic to enter the big coin industry.
it may be that all the hackers and darknet users become the sole users of bitcoin and genuine businesses move to the cleaner coin.
anything can happen. and thats the great thing about these coins. freedom of change, freedom of movement, freedom of choice.
and anyone that loves bitcoin to such an extent that they will try tarnishing other coins is not really into the whole concept of freedom.
thats why im in both boats.
also selling the bitcoin concept to miners is soon going to be obsolete as people trying to make it rich with just GPU's from their home computers on bitcoin wont happen. that's where litecoin will still gather more fresh faces and interest.
it may become that litecoin gathers some recognition as the introduction coin where people begin to mine, sell it for a few items available , and then make enough profit to buy an asic to enter the big coin industry.
it may be that all the hackers and darknet users become the sole users of bitcoin and genuine businesses move to the cleaner coin.
anything can happen. and thats the great thing about these coins. freedom of change, freedom of movement, freedom of choice.
and anyone that loves bitcoin to such an extent that they will try tarnishing other coins is not really into the whole concept of freedom.
thats why im in both boats.
The only use I can foresee for an alt-cryptocurrency is, some day in the somewhat distant future, to have a currency that isn't capped at a certain arbitrary number, and that is backed by BTC, with a free floating BTC/XXX rate of exchange.
This may prove moot if Bitcoin becomes divisible to less than a satoshi and if the blockchain size issues are addressed (by super pruning, for example).
Other than that, I'm still to find a glaring problem with Bitcoin.
This may prove moot if Bitcoin becomes divisible to less than a satoshi and if the blockchain size issues are addressed (by super pruning, for example).
Other than that, I'm still to find a glaring problem with Bitcoin.
The number of altcoins is not capped, and some individual altcoin chains are not themselves capped, and all the altchains are basically backed by bitcoin with floating exchange rates. So all of those parts are already in place.
-MarkM-
No they will buy LTC to get BTC. I sell for Paypal so they will do it.
It's not too hard to find someone to sell BTC for PayPal if you have a good reputation. I've actually never bought BTC with anything other than PayPal. Why not just target the LTC crowd?It has been crazy hard for me to find. To get a reputation. You have to pay ridiculous fees and go through all kinds of crap. Almost all of the BTC I have purchased have been for PP too, but it is very hard to find for new users. I offer it on ebay and off my facebook page bitcoin friends.
The reason I dont just target the LTC crowd id i want it to compete will BTC to force the price down and keep it more stable. If people have a choice between btc and something else there will be compition and the price stability of both will benefit and the users will benefit from that.
The only use I can foresee for an alt-cryptocurrency is, some day in the somewhat distant future, to have a currency that isn't capped at a certain arbitrary number, and that is backed by BTC, with a free floating BTC/XXX rate of exchange.
This may prove moot if Bitcoin becomes divisible to less than a satoshi and if the blockchain size issues are addressed (by super pruning, for example).
Other than that, I'm still to find a glaring problem with Bitcoin.
It's already moot because bitcoin is already plenty divisible.This may prove moot if Bitcoin becomes divisible to less than a satoshi and if the blockchain size issues are addressed (by super pruning, for example).
Other than that, I'm still to find a glaring problem with Bitcoin.
I tend to agree, but if BTC ever became universally adopted, then those two issues (divisibility and an unwieldy blockchain) would have to be addressed. One way to do that would be to start an inflationary currency that would piggy-back onto Bitcoin... but we're talking a few decades down the road anyway.
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