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Title: Bitcoin vs Litecoin [Winner Prediction] Post by: zamazama on April 01, 2013, 05:15:50 PM I am not going to predict the winner, but will know who the winner is due to previous history.
Beta vs VHS .. Blu-Ray vs HDDVD ... the winner was decided by the porn industry. I predict the same to happen here .. whichever gets adopted by a mainstream porn site first will be the winner. The vote should come from at least 2 established porn network of websites[10+ sites], that has been around for at least 3 years. Yes this is not media formats, but the surge in demand will crush the other. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: nobbynobbynoob on April 01, 2013, 05:17:47 PM Unlike disc players, there is no reason why bitcoin, litecoin and other "coins" cannot coexist in Internetland. That is not to say they will do so, but there's no fundamental reason why they shouldn't. Especially given the advantages to GPU miners that Litecoin presents, it truly could be the "silver to bitcoin's gold", as the cliché goes.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: zamazama on April 01, 2013, 05:23:57 PM true that on the silver/gold .. and i guess like in the real world there could be silver miners and gold miners co-existing profitably ... and then suddenly whoosh Platinum!!!!
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Fiery Winds on April 01, 2013, 05:24:35 PM Who's to say that neither will survive longterm, and these are just the precursors to another cryptocurrency? Digital currency is still in its infancy, I would not be surprised to see other players pop up before/after BTC and LTC.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: VforVictory on April 01, 2013, 05:29:51 PM I am not going to predict the winner, but will know who the winner is due to previous history. Beta vs VHS .. Blu-Ray vs HDDVD ... the winner was decided by the porn industry. I predict the same to happen here .. whichever gets adopted by a mainstream porn site first will be the winner. The vote should come from at least 2 established porn network of websites[10+ sites], that has been around for at least 3 years. Yes this is not media formats, but the surge in demand will crush the other. When BTC/LTC can be traded for porn/sexual favours, then we will know who wins...so you answered your own question. ;D Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Vectra on April 01, 2013, 05:39:55 PM BTC is first one that got mainstream news coverage, it's bitcoin who'd rule for some time at least.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: virtualmaster on April 01, 2013, 05:44:18 PM Bitcoin is more accepted.
Many people think that litecoin is more decentralized and has some improvements but that is not necessary the case. Anyway it is a little bit different and may be could fill some market niche. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: ar9 on April 01, 2013, 05:48:35 PM Hard to think that eventually LTC will be worth more than BTC. But all it would take is one major exploit for one or another to completely depreciate.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: virtualmaster on April 01, 2013, 06:52:31 PM Bitcoin, namecoin and litecoin could be all winner and rule the world (at least the virtual) in a triumvirate.
:) :) :) :) :) :) :) :) :) :) :) :) :) :) :) :) Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: MineMind on April 01, 2013, 06:53:58 PM Mine both, profit.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: XXthetimeisnowXX on April 01, 2013, 07:00:48 PM Who's to say that neither will survive longterm, and these are just the precursors to another cryptocurrency? Digital currency is still in its infancy, I would not be surprised to see other players pop up before/after BTC and LTC. no doubt one that maybe the government will make? maybe they will start it low and start pumping billions into, one that they say is anonymous and one that they have no control over but indeed they do? just a thought Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Praxis on April 01, 2013, 07:18:14 PM My bet is on LTC for a few reasons ...
When LTC launched, the distribution was more fair because people already knew what was going on (went thought a BTC launch before) So there's less capital accumulation Another thing is that LTC can be mined with consumer grade hardware, which could potentially make it more mainstream BTC will keep the highest price though, but I suspect LTC will be used more daily. Wait until MtGox accepts it (as rumored) and then Silk Road Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: virtualmaster on April 01, 2013, 07:35:10 PM Even if once more people will mine LTC(what is not shure) I think that BTC will always remain more professional.
Mining hardware clearly ahead, software ahead(litecoin will always implement an older bitcoin client) and bitcoin will have more acceptance. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Mike Christ on April 01, 2013, 07:43:26 PM I'm in agreement that they'll both co-exist, along with all the other alt-coins. As long as people are mining them, the network will always be running for those coins, making them all useful in some way.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Frogcoin on April 01, 2013, 07:47:21 PM Do any major services apart from btc-e deal with litecoins?
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Mike Christ on April 01, 2013, 07:52:34 PM Do any major services apart from btc-e deal with litecoins? Vircurex AFAIK Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Pentel on April 01, 2013, 07:54:24 PM Sooner or later the US & UK will push for tighter controls over Bitcoin, I mean come on, there is over 1 Billion USD worth so far!! :o
I'm amazed they have not done anything yet! ??? Who would win? Both, like people are saying as long as people are mining them, there'll both co-exits. The price of 1LTC is/was $1.44 up from $0.66. Nice. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: cryptotrade on April 01, 2013, 08:29:01 PM I think you have a great point re: the porn industry. That will probably determine the long term of all alternate currencies over the long term.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: ahazu on April 01, 2013, 08:43:42 PM Seems to me that there is overwhelming demand for Bitcoin right now.. Litecoin is also gaining traction though, so I guess time will tell.
I guess coexistence is also a viable option.. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: nwbitcoin on April 01, 2013, 08:47:56 PM The porn industry isn't what it was.
They suffered due to the freemium craze and they don't have the money like they did. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: nobbynobbynoob on April 01, 2013, 09:06:40 PM Sooner or later the US & UK will push for tighter controls over Bitcoin, I mean come on, there is over 1 Billion USD worth so far!! :o I'm amazed they have not done anything yet! ??? What can they do about Bitcoin et al, besides try to shut down the Internet? They can and already do impose fairly strict regulation upon bitcoin exchanges via AML and the like. Indeed, various exchange services have had their UK bank accounts frozen in the past few months. In the US, FinCEN recently published guidelines emphasizing the strong regulation on bitcoin exchanges. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: cryptotrade on April 01, 2013, 10:41:15 PM Stacy Herbert keeps saying people keep suggesting "shutting down the internet"
*lol* I think we are standing on a tiny dot in an ever expanding universe of currencies and alternatives. Think big! Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Pentel on April 06, 2013, 09:15:16 PM They can stop exchanges' changing BTC to USD or GBP. Or any other currency.
This would not only stop you but business too. If no one can "cash in" BTC can it still function? Or I'm I missing something? Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: nobbynobbynoob on April 06, 2013, 09:20:30 PM They can stop exchanges' changing BTC to USD or GBP. Or any other currency. This would not only stop you but business too. If no one can "cash in" BTC can it still function? Or I'm I missing something? Bitcoin OTC. Person-to-person and underground trades, bypassing all the AML crap. I'm sure it's common today with cash in briefcases. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Btuser1 on April 06, 2013, 10:07:11 PM Is it possible to make ASIC or FPGA for litecoin mining?
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Stampbit on April 06, 2013, 11:20:19 PM I was going to ask whats the difference but this post explains it:
Litecoin is garbage. LTC does not offer anything innovative over bitcoin, and the first thing any LTC nut exclaims is "herp! its got lower confirmation times! derp!" Well there is a reason behind 10min confirmations times. Pertinent discussion from Reddit: http://www.reddit.com/r/Bitcoin/comments/1bcr1s/why_is_difficulty_set_to_10_minutes_per_block_why/ (http://www.reddit.com/r/Bitcoin/comments/1bcr1s/why_is_difficulty_set_to_10_minutes_per_block_why/) [–]seweso 22 points 6 days ago Smaller also means more chance of collisions and thus forks. Its build to create a good consensus about what is the longest chain. And it needs to account for slow connections. Bitcoin wants to reach the smallest outreaches of the earth. It should even work when an entire country is connected through a dialup line with the rest of the world. That's the goal. Other services on top of bitcoin can provide faster confirmation times (like with green adresses). [–]NicolaiS1993 15 points 6 days ago Faster block generation time = more orphaned blocks = longer (orphaned) blockchain forks = you would need more "confirms" (blocks) to trust a transaction. So "faster block generation time" != "shorter confirmation times". You do not get the same level of security for one bitcoin confirm (10 min) and one litecoin "confirm" (2.5 min). Also; more blocks = more bloat (you don't "feel" this in the bitcoin forks, simply because they are not as used as bitcoin). On top of that, since LTC is "Asic Proof" LTC will be the playground for botnet operators and the proliferation of malware as it grows. Specialized hardware is beginning to push those people out of Bitcoin. Edit: Here's a really good snippet from the above discussion: http://www.reddit.com/r/Bitcoin/comments/1bcr1s/why_is_difficulty_set_to_10_minutes_per_block_why/c95pnbt (http://www.reddit.com/r/Bitcoin/comments/1bcr1s/why_is_difficulty_set_to_10_minutes_per_block_why/c95pnbt) "I've always seen claimed by Litecoin fans that this change was for better, and it's the first time that I read some other arguments against Litecoin that "It's just a copy with nothing more" (which was already a very good argument for me)" "Personally it is just a copy with nothing more, you just have to qualify the "nothing". A faster blockchain doesn't help in any real scenarios. 2.5 minute blocks (with more uncertainty) are in no way going to facilitate different kinds of transactions to 10 minute blocks. If you could pull off 10 second blocks (NOTE: This is ridiculously unviable) then maybe it'd be interesting for point of sale. The different hashing is a silly idea of making things "equal" for miners. Whomever made litecoin wanted to stop GPU miners from having control, so they put in a memory hard hash instead of the SHA256 hash. But then of course it transpired that people can do this on GPUs, so they rebranded it to be ASIC resistent. In reality the more dedicated miners like ASICs result in a safer block chain because in the Litecoin world, someone could build a really expensive but functional FPGA or ASIC at some point and completely take over the market. The artificial limits that Litecoin imposes on mining growth due to the mistaken notion of 'fairness' ultimately cripple miners' ability to secure that blockchain as effectively as Bitcoin's. So yeah my TL;DR is that Litecoins were created because of mining jealousy, and are being perpetuated by speculator jealousy and greed. Litecoin offers nothing fundamental that is of any value to a merchant or customer, and would actively add to costs where merchants must support competing identical standards. People want alternative blockchains to succeed for some legitimate purposes, and attach to litecoin in the mistaken belief that Litecoins offer something different. But for the most part, Litecoins just exist because a handful of people 'missed the boat' and wanted to create an alternative pump and dump scheme." Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: euskara on April 06, 2013, 11:29:20 PM btc will win...
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: btcminer021 on April 06, 2013, 11:39:10 PM I think BTC being the first and most publicized will be around the longest. I think lite coins will be a close second, but not near BTC.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: saveawedge on April 06, 2013, 11:44:17 PM I can see Litecoin being very popular for smaller transactions. I think has a bright future ahead. Which will be the 'winner', I couldn't say.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: Lethn on April 06, 2013, 11:46:29 PM As long as over-inflated paper money doesn't win after all of this I don't care who wins really :P
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: 3waystocross on April 06, 2013, 11:51:48 PM bitcoin is def the 'winner' already
but there's no reason why bitcoin and litecoin can't exist together Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: bitcool on April 06, 2013, 11:54:06 PM I like both.
I predict they will becoming fully automated, seamlessly integrated, end users do not need to care. Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: ltcdice on April 07, 2013, 05:35:35 AM I think both will co-exist with LTC being 0.25 of BTC.
Title: Re: Bitcoin vs Litecoin [Winner Prediction] Post by: btcminer021 on April 07, 2013, 03:13:50 PM As long as over-inflated paper money doesn't win after all of this I don't care who wins really :P +1 |