Bitcoin Forum

Litecoin was announced in 2011 with the goal of being the 'silver' to bitcoin's 'gold'. At the time of writing, Litecoin  has the highest market cap of any mined cryptocurrency, after bitcoin.

The main difference is that litecoin can confirm transactions must faster than bitcoin. The implications of that are as follows:

• Litecoin can handle a higher volume of transactions thanks to its faster block generation. If bitcoin were to try to match this, it would require significant updates to the code that everyone on the bitcoin network is currently running.
  

The disadvantage of this higher volume of blocks is that the litecoin blockchain will be proportionately larger than bitcoin's, with more orphaned blocks.

• The faster block time of litecoin reduces the risk of double spending attacks – this is theoretical in the case of both networks having the same hashing power.
  
• A merchant who waited for a minimum of two confirmations would only need to wait five minutes, whereas they would have to wait 10 minutes for just one confirmation with bitcoin.

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as far as i know this is incorrect.
Charlie Lee forked bitcoin and created LTC to be able to explore additional possibilities, implement his suggestions for bitcoin which were impossible to implement on bitcoin.
the terms gold and silver are what people started after some time to get the "money" involved while trading.

also incorrect.
LTC has the 4th rank regarding market cap
and i don't know what the significance of miner coins are but you can exclude XRP and consider LTC as 3rd.

in any case market cap is a meaningless number if you want to rank coins with it.

all these list items have been true for as long as LTC has existed and it never went anywhere!
the adoption of it is still very minimal.

with activation of SegWit and lightning network and all the rest of the stuff Coblee is doing i have some hopes for this coin to grow bigger (that is why price is performing well) but i don't expect anything really big out of it. specially not while bitcoin is around and is taking the stage all to itself!

we need to wait and see...

nadah, bitcoin remains the dominant cryptocurrency since bitcoin is the genesis of bitcoin, unless the bitcoin network such as blockchain gone irreversible chaos and/or the crash of bitcoin, which also has to give litecoin advantage to up in case. however, most of the cryptocurrencies are backed by bitcoin.

Bitcoin will always be number 1 in the world of crypto currency. Yes indeed, bitcoin has these flaws, but we see that bitcoin is willing to change. Attempts to create panic before August 1 have failed and this underlines the viability of bitcoin.

This Russian`s btc-e.com progect have zero progress for 5 years.


https://bitinfocharts.com/comparison/transactions-btc-ltc.html
https://image.ibb.co/i0G0Ua/litecoin_TXbitcoin.png

It is number 1 today but surely it wont last long if it stays just a mined currency. Because there are already a lot of cryptos out there that is already versatiled in its own unique ways and that also includes litecoin and others. As far as i know btc in time will become gold. It maybe vast but there are also many goods to be mined there like coal and oil or any other minerals. So today btc may be number 1 but in time it may decrease in interests.

Bitcoin is number one today, but no one knows exactly what will happen to him in a few years. Perhaps litecoin will replace it or another more sophisticated crypto currency.

I don't know what you meant to say by most of the cryptocurrencies being backed up by bitcoin

It kinda looks you meant that they wouldn't exist without Bitcoin but this is debatable and ultimately irrelevant here since the question is about Litecoin versus Bitcoin specifically. The only genuine advantage that Bitcoin has over alts (so far) is that it gives more profits when the price is rising than all other coins out there, and, consequently, less losses when the price is going down in the longer term. The latter is a difference which makes all the difference since many coins offer higher profits but these profits are rather short lived (while their losses may in fact be longer lived, so to speak). In this way, if some coin (and Litecoin is moving right in that direction) is able to beat Bitcoin in this department, Bitcoin is set to lose its appeal eventually

We cannot deny that the rankings will shuffle one day, those that we never heard will climb the ladder of the cryptocurrency ranking.  It is expected since the only permanent in this world is change.  Though there is a huge possiblity that some altcoin will replace bitcoin, I have a doubt that it would be litecoin since there are far more popular and advance cryptocurrency than LTC.  But who knows, the possibility is always there,  The when and  how is yet to be known though.

Possibly both btc and lite will almost die out eventually  ??? And then we gonna see Ltc beat Btc on cryptopia  ;D

Ltc would never overtake bitcoin in terms of it's usage. It wouldn't be able to because litecoin is created to be a silver in cryptocurrency in the first place with bitcoin as gold at the time it was created. Also, even if litecoin is faster to use in sending money, it would still dominate unless all bitcoin users decided to use litecoin as main cryptocurrency to be usef instead of bitcoin. The chance of it happening for now is very low.

As I see it, Litecoin is a very useful coin right now. Mucho more so than most alts. It is widely accepted, has a good value, exchanged in most (if not all) exchanges, and an excellent faster alternative to move Bitcoin. Many times you can send your money from one exchange to another using litecoin instead of just sending the BTC itself (which would have a higher fee).

I see it as silver too.

I think there is more about LTC;
 
- This coin was -not- created by accident...
- Also no coincedince that Charlee Lee, did go to Coinbase as CEO and "left" LTC...
- I also think there "is a reason" why LTC didn't go up for a long time... (on purpose)
- Segwit is allready active and what will be next (MIT)
- Charlee Lee left Coinbase by now and returns to LTC (yeah sure, coincedince...)
- If you use LTC, you will see the transactions are VERY fast now! (few sec. and lot cheaper than BTC)
- Antminer did come up with the Antminer L3+ (They only produce if there is money...)

So if I count ALL this....  

There is something huge coming and the LTC blockchain is going to be fully used, not just by a small number of users.

Well, this is just all my opinion ;)

But it will return to normal price $7.5 (and volume) as fast it was up.

LOL!

Bitcoin will be just as good as LiteCoin when SegWit and the Lightning network is in place. Why do you want to replace Bitcoin

with anything else? Bitcoin can cannibalize any good Alt Coin code and SegWit was actually coded for Bitcoin, but LiteCoin

just incorporated it earlier, because they did not need to go through a battle with competitors like Bitcoin did with BitcoinXT

and lately, Bitcoin Unlimited. {BugCoin}  ::)

In 2015 it was happen during 1 hour.

I don't see any chances for Litecoin to take over the position of Bitcoin as leader of Crypto-currency for now, as the demand in market for Bitcoin is much higher than Litecoin, even main media-stream have been focusing their reports on Bitcoin instead of Litecoin, so obviously most people will invest their money on Bitcoin at the moment.

I don't think LTC will dominate BTC (and there is no need to)

But both coins will do their job well.

Any hopes of Litecoin to replace bitcoins are  gone and buried because there is no more hard fork and only Soft fork will be implemented and BTC transcation will be faster and cheaper just like Litecoin. But since bitcoin is vastly accepted and used, there is no chance of  litecoin to even come close to bitcoin.

There are a few things which we shouldn't forget

First, SegWit is so far pretty much irrelevant for Litecoin (as well as Lightning Network, just for the record), so anyone claiming that Litecoin grew because of SegWit specifically likely doesn't know what he is talking about. SegWit activation in Litecoin has shown that it is a robust coin that can evolve along with the requirements (in fact, even ahead of them). Further, SegWit is still mostly a crutch itself, it is an interim solution which should allegedly solve, or rather postpone the scalability issues that Bitcoin now faces, and then it took so much effort and pain to get it activated (and we are still not there yet)

I think it's a good idea to have some Litecoins in your coin portfolio. They are pretty stable, much more than Bitcoin and offer a save haven when you want to jump from one altcoin to another. I've switched from Bitcoin to Litecoin a number of times when Bitcoin was in a downtrend. Why not to fiat? Because I don't like it :D

Agree 100%.  I have said it before that the Litecoin team seems to keep information tightly held.  They did announce a path for 2017 and beyond, but other than that, there haven't been any "big" announcements - and you KNOW they've had to have been working on something major.

Litecoin is great crypto currency and it is having a lot of attractive features, which make it one from the best altcoins nowadays. But considering it will dominate Bitcoin, i don't think so. Bitcoin still the best and the strongest crypto currency and i believe all the altcoins depend on it.

I do not think that will happen either,the chances of that happening are very low,perhaps at first that would have been more likely to occur because these were much less altcoins on circulation but if the dev or devs stays active or the community grows they will have more opportunities.

Dominate? hardly.
Potential to go up? more likely.
https://www.coingecko.com/en/price_charts/litecoin/btc
But if the segwit upgrade take place smoothly, expect LTC to take some short term hit.

I don't think Litecoin will dominate bitcoin.
It is literally not possible at all.
Because everyone has adopted Bitcoin.
But Litecoin is a good alternative of bitcoin.
It price can go up to 300$ at least.

No cryptocurrency can ever topple Bitcoin or overtake it in terms of market cap simply because BTC was the pioneer of all cryptocurrency and the 800+ altcoins are simply a clone of it with little to no technical improvements. On top of that, more than 80% of the network hashrate has signaled for BIP 91 which meant that Segwit2x is due to be implemented in the near future.  In other words, BTC have a very bright future ahead.

Believe me, that will never dominate the bitcoin especially if the softfork of bitcoin goes successful, the more people will leave from litecoin and try to use the bitcoin again as the primary crypto in the future.
Why do we need litecoin if the bitcoin will have given the same spesificatio with it.

LTC can surely beat ETH but not BTC :)