Bitcoin Forum

Im not the first to say it (crazy rabbit) but all those scam coins killed alts. alts are now dead....the issue is this, will it be profitable enough for new crypto business to accept LTC, both for more fees and to attract members of the alt community?
Or will we see a move by the BTC holders attempting to form a monopoly and kill LTC while they still have a chance

LTC will die. It offers no advantages over bitcoin at all. It is basically the same thing.

The only alt coin that has a chance of surviving is one that is significantly different and better than bitcoin and there isn't one yet.

I think LTC is over the hill, it's got it's own version of SR, Atlantis, as long as this exists so will Litecoin.
Although I wouldn't bet that $3 is sustainable.

What I am fairly certain though is that this thread gonna get moved into the alt coin section of the forum.

From a bitcoin perspective I think LTC is learning all the mistakes not to do!

I do feel its got an advantage over BTC on a technical level, the only question is whether that advantage will make enough difference for the mainstream user.

However, I think we have also learnt that the alt coin construction kits don't really add any value, despite the theory of evolution and competition being king!

What advantage would that be?

Litecoins are good for buying bitcoins. And it is only thing it is better at than Bitcoin as buying bitcoins for bitcoins makes no sense.

lol haha....

Well let's give it a few more years to catch up to where bitcoin is.

Most naysayers claimed LTC would die long ago at 1/2 a penny and 6 cents....now they are all but silent.

Utility is important I agree...litecoin has some catching up to do.

Note: Litecoins allow you to obscure the bitcoin network in terms of tracing where a transaction came from and went to. Bitcoin by itself can't do this. This is something Trace Mayer mentioned and agree with.

The Litecoin blockchain is just as public as the Bitcoin blockchain.

If you mean that I can exchange my BTC for LTC, and then my LTC for BTC, well... that's no different than manually mixing with someone else's BTC.

Smoothe so are you more of a bitcoin or litecoin Bull? what % of your portfolio is LTC?

If I own Bitcoin address A and B and Litecoin address C and D and I am an exchange.

User E sends Litecoins to address D but I credit his account in my accounting system with address C litecoins (meaning if he withdrew them it would come from that address).

But say user E sells LTC for BTC. So now his balance shows up as bitcoins in the accounting from account A but when he withdraws simple send him bitcoins from account B.

So is that not enough obscurity to say that bitcoin can't do this on its own?

Or did I miss something? (sorry a bit tired, may have overlooked something)..

 :)

To trace the transaction you would need the exchange accounting information as well as bitcoin and litecoin block chains. Quite a bit of information when tracking I think.

Smoothie, isn't what you just described above is effectively using litecoins to buy bitcoins? Just like I said.

Alts are dead? Funny, I recall raging against alt-coins and trolling the shit out of smoothie and all those alt-coin tards incessantly a couple years ago. I turn back up and the problem has exacerbated a hundredfold. People are still mining fucking ixcoin and i0coin and those fucking abominations.

Trust me, greed hasn't gone anywhere.

I deposit some BTC at Mt. Gox, do some trading, withdraw some BTC from Mt. Gox. To trace whose coins those are, you need Mt. Gox's records, plus the Bitcoin blockchain (trivial to obtain).

All that you add by involving Litecoin is the requirement of a second blockchain (equally trivial to obtain).

Yes.

+1

i bought bitcoins with bitcoins. twice. made perfect sense to me. for those bitcoins i acquired were from the 10.000 btc pizza transaction and everybody with blockchain has the proof. but those are special trades.

Well if you buy Casascius bitcoins with bitcoins...aren't we doing that too? Buying bitcoins with bitcoins?  :P

Ltc is overpriced , most people hope that will make fast profit if mtgox adopts it , but i dont see the demand for it.

Those are not really Bitcoins. That is a currency built on top of Bitcoin backed by full faith in Casascious, the issuer. Bitcoin has somewhat different properties.

If two people, offline, agree to trade Bitcoin wallets, it does the same thing.

Heck, you can do the same thing by trading national currency for BTC on localbitcoins.

Don't get me wrong, I think altcoins are super-important for a few different reasons. But I don't think Litecoin, specifically, is really that useful when its feature set is basically identical to that of Bitcoin.

Okay let's meet in the middle and say we are both half right.

If it is backed by bitcoins then essentially you are buying bitcoins despite what form they were packed or came in.

True bitcoins do have different properties but to say you can't buy bitcoins with bitcoins is not 100% true once you bring up Casascius. Just my opinion though. :P

I don't see how LTC is overpriced and BTC isn't. in both cases you are looking at their potential value. Anyone else think BTC is the better investment ATM? growth wise LTC could expand way more IMHO

Then in-person mixing - A sending coins to a fresh address owned by B, B sending coins to a fresh address owned by A.

Or in-person trades of BTC for gold rounds.

The point is that there are a lot of ways to break the transaction chain that are just as good as BTC/LTC trading, and that don't have any requirement of a whole separate superfluous currency with identical properties and features to BTC.

If the LTC developers were to implement some more interesting features (the zerocoin protocol, for example), that'd be enough to get my attention. But as it is now? Nah.

Litecoin is good for speculation. That's enough to give it a fair amount of value apparently. I need to learn more about the differences between scrypt and SHA256 to pass an educated comment on that, but somehow I think its a good thing to have two coins which use different hashing algorithms.

Whether LTC will "make it" isn't very interesting to me. What is interesting to me is whether an alt-coin will ever overtake bitcoin. That's why this bet is coming soon to betsofbitco.in:


Once approved, the link to this bet will be: http://betsofbitco.in/item?id=1630

I disagree. The more interesting aspect is how the current financial, regulatory, international laws will try to kill bitcoin (obviously can't really) or will end up slowly dying because good money drives out bad money in a system.

Cryptocurrency in general will likely be what may be a huge blow to the status quo of the banks/etc.

+1

Normally BTC should easily hit 5K within a couple years at current rate. the issue is will the government and banks stop it, or impose such fear its not worth for average Joe to use it

And it's the same with Litecoin!

Frank and Helen want to break the chain of ownership. Frank controls address A with money and a new address C. Helen controls address B with money and a new address D.
Whether they're trading bitcoins for bitcoins, litecoins, BBQCoins, colored coins on the Bitcoin network, whatever, as long as they're both objects on a public blockchain, the information possessed by an attacker is:
A transferred coins to D.
B transferred coins to C.

Unless there's some other use for litecoin here, it has added nothing in terms of security or safety.

Then trade for gold rounds. Trade for literally anything physical. None of that stuff is on a blockchain. That still gives data miners less information than trading LTC for BTC.

People often make the abstract argument that if Bitcoin was somehow "shutdown" by governments, the idea of cryptocurrencies would already be out of the bag (and impossible to stop). For me, Litecoin is a pretty concrete implementation of this point. The very existence of a functioning Litecoin economy might discourage governments from even trying to shutdown "Bitcoin" because the futility of the effort is more obvious.

Let me see if I understand.

Litecoin is valuable because it's something you can buy/sell for bitcoins that has all the same properties as bitcoins?

Oh btw notice something?

http://thepiratebay.sx/

LTC has been gaining ground on BTC since its inception and has key technical advantages

I would say LTC is (1) entrenched and (2) gaining ground.  I don't think BTC advocates have much, yet, to worry about but they should keep on eye on LTC.

LTC is not silver to Bitcoin's Gold but, rather, is Android to Bitcoin's iOS.  We'll see how it plays out.

Please stop making relative posts to the alt currency section.  This section is used to promote CNC2(chuck norris coin obviously) and other highly attractive alternatives to BTC.

great analogy

What advantages are those?

I seriously want to know.

Yea the big QR codes!Looks like btc/ltc works for tpb.

Total Received   213.3924135 LTC    0.50658917 BTC   :-\

It seems they change the addresses daily for privacy/legality reasons.

I only checked the Bitcoin address, but notice that all transactions into that address happened today.

Yea that amount (BTC) is for 13 txs that took place in the last 10 hours.
Not bad imho.

The advantage i`ll think will see when asic`s gone to work with their fool power, i believe so.

this may create a second bubble for litecoin, and frankly I am holding my meager collection of LTC to see how the ASIC wave and possible inclusion in bigger exchanges pans out. However, unless LTC gets some more infrastructure it wont last. I know there are a few devs working, and a scant few businesses that accept it, but you could say the same for BTC 2 years ago. I do own a few LTC and it is few enough that if it falls flat idgaf but if it succeeds I can take my wife and daughter out for a nice dinner after I cash out. I wholly agree with the "not innovating, just imitating" argument, but I fully understand the power of greed and latecomers desire to get in on a possible second wave with a less expensive investment. The silver analogy fits pretty good. although over 80% of all silver is used industrially, and i'm pretty sure 99% of LTC is about speculation.

the only thing i think we should delete this kind of topic. we have discussed this topic many times it only leads to flame between people who support and who are not

Here is my problem with this logic.  Yes LTC could expand way more growth wise.  However that is because LTC hasn't grown much in comparison to BTC.  Small current growth doesn't inherently beget more and more growth in the future.  By that logic the coin with the least growth has the most room to grow and should be the best investment ever!  Right?  Well sometimes that is the case, but it's usually riskier and short lived.

Sure if something changes and LTC value skyrockets it will take much less increase in total valuation to, say, double the worth per your LTC than BTC.  The key phrase there is if something changes.  There doesn't seem to be a whole lot going on for Litecoin that makes me believe it will long term outpace growth and adoption of BTC.

I think LTC has some speculative value in that many people like to diversify their crypto currency holdings somewhat.  However in this case it's likely people will hold larger valuations in BTC and diversify some smaller portions in other coins.  I believe this is also why Litecoin value dips along with BTC, it's not invested in so much as a separate economy or due to it's utility.

I also believe when/if the time comes for the public to start using crypto currencies, the hurdle to BTC will be large and difficult enough.  If you pile on making people track and choose what coin is accepted where it will be just that much more confusing.  People will gravitate to what is easiest and most developed for normal use.

In short I do think there are speculative opportunities to make money with LTC.  I also don't think it's a bad thing to have Litecoin around in general.  I just see no evidence that LTC will outpace, catch up to and surpass BTC in popularity and adoption.  Who knows though maybe it will surprise me.

From any outsider/newbie's point of view, BTC, LTC, and all the scamcoins are basically equivalent.

BTC has a small (~2 year) head start on vendor acceptance.  That's all.

LTC advantages are the quicker transaction speeds, the larger number in circulation and its scrypt mining process.

The other major advantage is that is hasn't become a byword for everything that is bad about crypto currency! ;)

That is one of the advantages of being 2nd in the market, you learn from your competitor what not to do!