Topic: Why Litecoin will always be a top 2 Crypto (Read 8171 times)

That's not really the case.

https://litecointalk.org/index.php?board=1.0

Yeah, it's an interesting way to compare coins and the factors that make them what they are. I don't read the NXT forum at all but from the little I've seen the community there is very much interesting in adding new features and progressing their technology to keep up with the times. Which is the opposite of what I'm finding from the LTC community unfortunately. Despite TheMage being the first person I've seen supporting LTC progression, no one else seems to care.

Well, most these numbers are just a gut value and is more of a relative ranking between the currencies than an absolute of a what a perfect community is.  But basically I was going for ranking the total number and how active the members are.  LTC is bigger than NXT and Bitshares but smaller than BTC.  But as I said since this is based on only my own knowledge feel free to adjust the numbers and come to your own conclusion.  The exercise was helpful for me I think to quantify my own rankings.

What makes you say the LTC community is a 4 out of 5? Is it simple number of members? Or are you considering activity and participation in pushing the coin forward? If so I'd probably say it's lower than a 4 based on what I'm seeing these days from the LTC community.

Simple comparison

Attribtues that I think lead to long term success.

Network:  1-5  users/merchants/install base
Mining Power: 1-5 Security gains by the mining power
Features: 1-5 How many features, multisig, HD, web, distributed assett exchange, turning complete language, aliases, voting, anonymous transactions, digital goods store.
Community: 1-5 How active and involved the community is.
Ease of Use: How easy to use, 1 is only programmers can use, 5 is mom and dad ready.

BTC:
Network:  4
Mining Power: 4
Features:  3 ( based on the fact that counterparty is built on top of BTC)
Community: 5
Ease of Use: 4
Total: 20


LTC Value:
Network:  3
Mining Power: 3 (This may be one of LTC's strong attributes is that people with invested mining equipment don't have many better options)
Features:  1
Community: 4
Ease of Use: 3 
Total: 14

Bitshares
Network:  1
Mining Power: 5 (Because it's PoS)
Features:  4
Community: 3
Ease of Use: ? , estimated a 3
Total: 16

NXT
Network:  2
Mining Power: 5 (Because it's PoS)
Features:  4
Community: 3
Ease of Use: 4
Total: 18

(Feel free to update the values to whatever you think best, I filled them in to the best of my knowledge.)

LTC has no driving force for user adoption.  What is the motivation for an end user to have an LTC wallet?  Right now it's used just for price speculation.   LTC is not different enough from BTC in my opinion to drive user adoption.  Just download NXT to see what a huge difference it is and how when the market is hungry for an alternative to BTC (several years down the road), when LTC is compared to what else is out there I think it's going to lose.

I used to have half my holdings in LTC as of 3 weeks ago.  I moved it into the 2.0 protocols, NXT, counterparty, bitshares.

That is true. You never know what can happen! Mybe in the future there will be a coin that will be greater than bitcoin.

I think it is hard to say which coin will remain where as new coins are always in the works who knows what will happen in the future.  I've been a supporter of BTC for a while and at this point I think it deserves it's place as Number 2 but I'm wouldn't say for sure it will maintain that position 2 years from now is all. 

My instincts say it's likely but who really knows?

LTC - RxIxP 2014

Endgame for the mother of all scamcoins

Isn't Saigonsmokes an LTC advocate? He just used this analogy. Are you calling him a troll? Also for months this has been used by all LTC supporters here including how a gold-silver ratio has to be maintained. Who comes with this stuff?? Next you will say you guys were never really "little brother currency" or "little sister currency" either and that it is just trolls who used the terms

Well, I don't mean to offend anyone but I've been asking people for weeks now what the Litecoin dev team have done, or at least what they are planning on doing and you're the first person I've seen step up to even address the issue. I think Litecoin has a lot of potential and I even owned some when it was worth 5 cents(no, I didn't hold unfortunately ). If Litecoin had more people such as yourself and OP seriously looking to move the coin forward instead arrogantly dismissing any criticisms or questions of what we can expect from Litecoin in the future then I would have more confidence in the coin.

As far as Bitcoin is concerned I don't ever expect any thing but the bare minimum amount of coding to keep the protocol and associated core code base running securely. With the political situation in Bitcoin the way it is and the Bitcoin Foundation's current mandate they're going to be playing defense forever pretty much. I don't think it's in Litecoin's best interest to emulate Bitcoin in that regard and play defense as well. I think altcoins like Litecoin should really be seizing the opportunity to push forward and earn a larger share of the market. Litecoin is in the best position to do this by far, but I don't see the will of the community being there. Maybe I'm wrong. This post made me change my current evaluation of the community from 'zero passion' to 'a few vocal passionate supporters' which is a good thing.

Life would be easier for me if it was clear as day that Litecoin was the one serious contender to bitcoin at this point like it was a few years ago. It would be cool to see that happen. But I'm skeptical.

Monero has objectively more reasons to become top 2. You didn't list any tangible reason for LTC to be above XMR beyond "LTC was the first successful alt-coin". There are no advantages over BTC, wereas XMR has advantages over BTC.

The only people today stating the "silver/gold" analogy are mainly trolls making fun of the slogan. The community trying to change this by a rebranding of sorts.

Also the comments about the devs are really a low blow. Our devs do some fantastic work, and I am personally very happy with the work they do. Litecoin is an established coin, just because someone comes out with a new technology (many times its more of a gimmick), doesnt mean LTC should rush to incorporate it. There are ramifications for doing so, such as possible hard forks. You dont see Bitcoin incorporating this stuff do you? If these new ideas were really that great, you would think the grandfather of all coins would get it into the protocol.


I cant speak for the OP, but I believe that he did so in order to get away from the nonconstructive postings (i.e. trolling). I'm sure if you had a reasonable argument and constructive points he would be willing to entertain them .

I like how you defend litecoin, but there was no need to sink to their tactics by creating a self-moderated thread IMO.

Well people have been saying that since Litecoin was created and while it may have been a decent analogy at some point, it's worn a bit thin at this point. A more accurate analogy would be that bitcoin is todays bitcoin, and litecoin is todays gold. Archaic and not very useful outside the fact that it has a large market. Valuable for the sake of being valuable. That is of course unless the Litecoin devs step up and start upgrading it.

Litecoin is going to dive under $9 next week. Get your buy orders ready, bagholders

spot on about LTC! I like #3, how BTC is todays gold and LTC is todays silver

Do you really expect the mainstream media to be reporting on the 'mining boom' with litecoin? This is first time I've heard anyone speculate that there is going to be any attention from any source other than the regular insiders. It doesn't seem like a very interesting story to me. But maybe I'm just not thinking about it from the right angle. What sort of boom do you expect to happen anyway? Do you expect a big price rise and subsequent boom in mining profitability for those with scrypt asics mining litecoin?

Personally, I hope Litecoin can get it's development in order and start pushing forward technically, but I'm not seeing it here yet.

One thing that jumps out at me as a big positive is the Electrum development. Having Electrum for litecoin will be a big positive I think. It's a great wallet.

For some trols Litecoin is dead or dying. Probably they want to lower the price to buy more, because they see the potential in this coin.

Darkcoin will take over soon

Whenever I see the "community" argument, I have to shake my head.

What has Dogecoin's fervent, boisterous and "fun" community done for that coin's success rate? It has gone from being over 200 satoshis to like 50 in the space of a few months.

You know what matters? How much money is in it from an investor standpoint, and how much money is in it from an infrastructure standpoint, and the fundamentals of the coin itself.

Did the Bitcoin Foundation have it all together back in January 2013? No...it was founded in September 2012. It certainly wasn't the organization that it is, today. I think the Litecoin Foundation was formed late last year. Does it have a ways to go? Sure...that's a fair statement. I think it'll get there, though. It can learn from the mistakes that the Bitcoin Foundation has made.

I have been involved with a lot of alts. They ALL, at some point, had VERY active communities with a lot of enthusiasm...of course they did. Everyone was involved because they were hoping that coin would be the "next big thing" and they'd get to be the guy buying the sports car with his hoard of coin. That doesn't make them good coins with prospects for mainstream adoption. They have all resorted to pumping and dumping. That "community" you're talking about is a coordinated pump.

Litecoin has the money in it, well and above any other coin that isn't called Bitcoin. A dedicated hardware infrastructure is currently being laid for it that will explode its value to business and investors...and it really doesn't matter how many new posts you can count on the Litecoin reddit page every day. When the mainstream media starts reporting on "the new mining boom" in Litecoin later this year, that reddit page is going to fill up with people jumping on the bandwagon.

And with regard to Darkcoin...it has pump & dump written all over it, to me. Small float, interesting story (anonymity) but virtually no prospects at widespread adoption to support the current price. It's the next Auroracoin, IMO.