Why do YOU support Litecoin? Why is it so popular?

Omega Weapon

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Quote from: Rockie1234 on April 25, 2017, 11:32:50 AM

Nothing against litecoin myself, just was very surprised to see such a significant increase on its price recently.
What features does it have which make it worth buying? As far as I know, all it has is Segwit, which is something that changes some sort of file size in the blockchain?

My point is, since it is a technical clone of Bitcoin, what are your reasons for supporting it?

Segwit activation is huge, it will give us the chance to see how well segwit work and that is invaluable information, besides Litecoin is one of the oldest coins so people support it because they believe in it, and finally it seems there is less politics like in bitcoin and this allows for faster development.

Ayers

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Leading Crypto Sports Betting & Casino Platform

i don't support litecoin, because litecoin have nothing really to offer to the market, maybe it's a good coin to help bitcoin getting more recognized, but without a market that accept it, it's not different than other shit coin to me, but i admit that litecoin have some traction and could help bitcoin to grow or to follow the right way, like with segwit, litecoin is a bit like bitcoin, being the first in crypto give always the upper hand and make like your coin is worth more, just nostalgia for many

nemgun

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Quote from: Rockie1234 on April 25, 2017, 11:32:50 AM

Nothing against litecoin myself, just was very surprised to see such a significant increase on its price recently.
What features does it have which make it worth buying? As far as I know, all it has is Segwit, which is something that changes some sort of file size in the blockchain?

My point is, since it is a technical clone of Bitcoin, what are your reasons for supporting it?

You should edit your post, Litecoin isn't a clone of Bitcoin (even if no one still pointed), it is the first Altcoin, it means, an alternative to Bitcoin.

One of the first Bitcoin clones is IXcoin : https://www.coingecko.com/en/coins/ixcoin

There are a lot of differences between both, and the most important one is the algorithm, Bitcoin's algo is SHA256, Litecoin's algo is Scrypt. Needless to talk about the other differences.

Oiketerion

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I support Litecoin because it is one of the few altcoins, which, beside Bitcoin, as this healthy simplicity. Fancy features and all make me stay away from numerous altcoins, but not from Litecoin.

shyliar

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Here's some of the reasons I like Litecoin:

Capable of four times as many transactions as Bitcoin in a ten minute period (changing to 8 to 10 times when segwit is activated). Frankly if payment processors had adopted Litecoin in the past year current Bitcoin block discussions would be irrelevant (and likely the price of both coins higher). Anyone who has watched these discussions understands the immediate advantage of a network with larger transactional capability.
Faster confirmation times. The only people who don't think this is important have never spent a single coin or they have patience that the average person does not possess.
Blocks are not full.
The faster block time of litecoin reduces the risk of double spending attacks.
Anti-spam.
Fast well established network. Current Hashrate is 4,500 GH/s. Since scrypt is memory intensive it is known to be approximately 1000 times slower hardware wise in comparison to SHA256. Fair comparison to the Bitcoin network requires multiplying that hashrate by 1000 (4,500TH/s). The fact is for most of Litecoins history the hashrate has been relatively high and secure. Those comparing it to the Bitcoin network without considering this 1k factor are either being disingenuous or just ignorant of the facts.
Upcoming new features and active development.
Longevity. Many coins have temporarily eclipsed litecoin as they were marketed for the purpose of increasing the fiat accounts of a small group and emptying the accounts of new users. Unfortunately this has been detrimental to crypto-space in general.
Great community. Definitely helps when consensus is needed.
Unlike bitcoin, it is possible to make changes to litecoin.
Fully supported by GoCoin a growing merchant payment processor used by thousands of merchants https://www.gocoin.com/ as well as other processors such as coinpayments, Asmoney, Alfacoins and Coinify
Liquidity. You can sell thousands and not crash the market. Maintains value. Look at the chart here indicating volume in the last 24 hours relative to other coins http://coinmarketcap.com/currencies/litecoin/#markets in fact volume has remained high month after month for years.
The speed, liquidity and value of Litecoin is useful to traders seeking arbitrage opportunities between exchanges.
Now on GDAX very soon to be on coinbase.
Planned confidential transaction features for an upcoming release. https://www.reddit.com/r/litecoin/comments/53c0v6/confidential_transaction_for_litecoin/
Fair release. In a crypto world of premined and ICO releases many appreciate this fact. The code was released well before the Genesis block was mined and everyone knew when it would be going live; therefore, individuals could anticipate and get their miners and software ready.
It's primary function is to be a cryptocurrency.
Still mineable in many western countries even after electrical costs are factored in. Here in Canada my Titans still make a profit long after shutting my Neptunes down.
Many low value coins can be merge mined with it increasing profits for miners
It will always maintain the integrity of the blockchain (no hard forks for special interests).
Likely the first major coin to activate segwit on it's network.
The possibility of utilizing sidechains for smart contracts without the possibility of corrupting the original non-turing complete blockchain.
Potential of using the Lightning Network as a method of increasing transactional capacity.
Possible block size increase if it's needed.
Security.

El Dude

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Because it was fairly released not like all the other coins here.

Quote from: Rockie1234 on April 25, 2017, 11:32:50 AM

since it is a technical clone of Bitcoin

Not for long on Wednesday it will get segwit and be vastly superior to bitcoin.

Rockie1234

sr. member

Activity: 476

Merit: 251

Nothing against litecoin myself, just was very surprised to see such a significant increase on its price recently.
What features does it have which make it worth buying? As far as I know, all it has is Segwit, which is something that changes some sort of file size in the blockchain?

My point is, since it is a technical clone of Bitcoin, what are your reasons for supporting it?

Topic: Why do YOU support Litecoin? Why is it so popular? (Read 848 times)