Bitcoin Forum

Hello, I want to get a better feel for why people find litecoin desirable :)

Please answer the following questions...

1. )  Other than for potential appreciation (growth in value), why are you actively obtaining litecoin?

2. )  Do you feel litecoin is superior to bitcoin?  Why, or why not?

3. )  Does litecoin use encryption algorithms as secure as in bitcoin?

4. )  Other than gambling, what services/products are available for purchase using litecoin?  What services/products do you plan on mostly buying?

5. )  Do you have anything you'd like to state when comparing bitcoin to litecoin?

6. )  Have you bought or mined your majority of litecoin?

7. )  What is your age, and what is your country of origin? (Don't feel obligated to answer this one if you don't want to :) )

1. )  Other than for potential appreciation (growth in value), why are you actively obtaining litecoin?
I like to gamble using LTC and like to move price on BTC-E.

2. )  Do you feel litecoin is superior to bitcoin?  If yes, why?
No.

3. )  Does litecoin use encryption algorithms as secure as in bitcoin?
Used to use. Not sure about current situation.

4. )  Other than gambling, what services/products are available for purchase using litecoin?  What services/products do you plan on mostly buying?
Don't know about other services. I plan to buy e-goods - books, hosting, bitcoins.

5. )  Do you have anything you'd like to state when comparing bitcoin to litecoin?
Litecoin was more centralized than Bitcoin. But now with this "The Bitcoin Foundation" poped recently Litecoin is definitely much less centralized.

6. )  Have you bought or mined your majority of litecoin?
Bought.

7. )  What is your age, and what is your country of origin? (Don't feel obligated to answer this one if you don't want to :) )
32 years. Belarus. It's ex-USSR country.

1) http://www.youtube.com/watch?v=sor9GzivGbk

-MarkM-

i like LTC because it is easy to mine than bitcoin and ASIC's can't destroy it

Litecoin has potential. Mining litecoin now makes me feel like a bitcoin miner in 2010 (I just jumped on the btc mining boat a month ago).

It is nice to actually make dozens of LTC a day while i'm restricted to .6 or so btc a day.

it is also a nice alternative that I want to support with some hashing power.

Incorrect.

An ASIC can be built to mine litecoin. of course it can lol.

They sure can, its just a LOT farther away from happening, along with the first halving of the block reward.

I like big and round numbers, dislike small decimals, that's why I like LTC  ;D ;D ;D

1. )  Other than for potential appreciation (growth in value), why are you actively obtaining litecoin?
Potential appreciation only right now. (But same for BTC)

2. )  Do you feel litecoin is superior to bitcoin?  Why, or why not?
Litecoin has significantly faster confirmations.

3. )  Does litecoin use encryption algorithms as secure as in bitcoin?
Yes

4. )  Other than gambling, what services/products are available for purchase using litecoin?  What services/products do you plan on mostly buying?
Right now not a whole lot, but there will be soon:)

5. )  Do you have anything you'd like to state when comparing bitcoin to litecoin?
When the world adapts to crypto coins no one will care what was first. Just what works the best (and fastest).

6. )  Have you bought or mined your majority of litecoin?
I have minded LTC but I mostly bought with BTC.

7. )  What is your age, and what is your country of origin? (Don't feel obligated to answer this one if you don't want to Smiley )
American expat in Thailand:)

1. burnside's exchange.  really.

2. is silver superior to gold?  all you can really say is that it's slightly different.  it depends what you intend to use it for.  Bitcoin is more useful at this stage, but that doesn't mean I wouldn't want to hold a few litecoins just in case.

3. not qualified to answer this.

4. I've seen a few auctions for silver.  I'm only interested in stocks/bonds at this point though.

5. not at this time.

6. bought.

7. 31.  United States.

1. )  Other than for potential appreciation (growth in value), why are you actively obtaining litecoin?
It's fun, quirky, experimental.

2. )  Do you feel litecoin is superior to bitcoin?  Why, or why not?
Faster transaction times do seem to be advantageous.  Also, LTC can grow much faster in legitimacy than BTC since the way has already been paved.

3. )  Does litecoin use encryption algorithms as secure as in bitcoin?
Do you mean the wallet encryption or the hashing algorithm?

4. )  Other than gambling, what services/products are available for purchase using litecoin?  What services/products do you plan on mostly buying?
Absolutely nothing at the moment.

5. )  Do you have anything you'd like to state when comparing bitcoin to litecoin?
Like many others, I expect hordes of miners to jump ship to LTC once BTC-GPU mining becomes infeasible.  I perceive this increased security of the network to further legitimize LTC and thus increase its price.

6. )  Have you bought or mined your majority of litecoin?
mined.  This is less risky I feel because hardware can always be pawned in the event of some sort LTC force majeure, cushioning losses.

7. )  What is your age, and what is your country of origin? (Don't feel obligated to answer this one if you don't want to  )
29, usa