Bitcoin Forum

I have been mining LTC for some weeks, and I think it has better protection against massive generation like asics or multiple gpus, do you think it's better to mine btc with a pool or ltc ?

Thanks

BTC is old (Old is gold lol) and there are thousand of sites which are accepting BTC.
LTC is new (copy of BTC) and it can never worth more than BTC.

I'll bump this thread when someone hits Bitcoin with ASICs.

While LTC offers some ASIC resistance and faster confirmation times, I don't think it should or ever will be worth more than a BTC.

When ASICs come in, I feel like the value of Bitcoins will rocket. That, and there are way more stores and marketplaces accepting bitcoins as payment. Most people don't know about bitcoin. Even less know about litecoin. Of course, only time will tell.

Time will definitely tell, I highly doubt LTC will ever reach some of the levels that BTC has but you never know.

And that is the awesome thing about it. Speculating on something and see if it works out or nit can be kind of thrilling.

Can happen in 10 days (http://bitcoin.org/may15.html).

Why do people seem to think that more mining power has an effect on price?

Price affects the number of miners and the network hashrate, not the other way around.

Is this good enough?

https://en.bitcoin.it/wiki/Myths#The_value_of_bitcoins_are_based_on_how_much_electricity_and_computing_power_it_takes_to_mine_them

More mining power could suggest sounder foundation of the whole network, witch again leads to greater trust, and from there, trust = value.

I don't think LTC has enough advantages over BTC to really take over. The network effect of BTC is to strong for that. Maybe if LTC incorporates additional advantages (like increased anonimity) we could see a real shift, but in that case it might just as well be a whole new type of coin which does it all that takes over.

And even if this would end up happening, wouldn't the BTC dev's just adjust BTC to improve to the new levels?

Given the network effect, it seems likt BTC should be able to remain #1 as long as the dev's don't fuck up badly.

But maybe someone could enlighten me why this would not be true? (I'm not the most tech-savy of people.)

Unless you have an ASIC, yes LTC mining is probably more profitable currently than BTC.

Can't believe someone trusts the content of a site edited by Luke-Jr!

No I don't think its worth more than btc, because it is just a clone

Allready happening. They output on newly branded cryptocurrencies must be way higher than ... well see it from a stamp collectors viewpoint :)
These coins should have a graphical surface.

+1

Yes, I belive 1 LTC could be more worth than 1 bitcoin since price depends on prices of new coins and there are more BTC that LTC mined yet. BTC won't keep its 95% marketshare of crypto so that value will go to alternatives like litecoin.


No, that's a far to simple view and it's a Sellers market.
More mining power of network means higher costs to mine. Miners are not willing to sell below what they belive it's worth and their cost of a new coin is a good indicator for value. Marginal costs are just a fraction of total cost so they keep mining and they rather keep them than selling at loss.


BTW: Markets can be very stupid for a very long time and from all markets I know bitcoin is among the stupidest so don't exept it to behave rational.

I think LTC will be better

I don't totally disagree, but when the bitcoin reward halved the price went up. However, correlation is not always causation. I just think it makes sense for people to refuse to sell their coins at a loss.