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Title: What exactly are litecoins? Post by: Victorinox on October 09, 2013, 07:29:34 PM I keep hearing about them once and a while but I never see any sites that take them and I dont really understand what purpose they play. Are they just easier to mine?
Title: Re: What exactly are litecoins? Post by: HyperBeam on October 09, 2013, 07:32:56 PM They are mined with the scrypt algorithim, which is different from bitcoins.
Title: Re: What exactly are litecoins? Post by: pand70 on October 09, 2013, 07:41:06 PM They are easier to mine (than bitcoins) but they worth less. All and all it is the most popular crypto-currency after bitcoins and people mine them while they wait for news from mt.gox...
Title: Re: What exactly are litecoins? Post by: duravello on October 09, 2013, 07:52:14 PM I keep hearing about them once and a while but I never see any sites that take them and I dont really understand what purpose they play. Are they just easier to mine? It is just a speculative coin because you can hardly spend it buying goods/services Title: Re: What exactly are litecoins? Post by: tskweres on October 09, 2013, 07:56:53 PM Litecoins are an alternative cryptocurrency to Bitcoins, you can trade them with us:
https://coinmkt.com Title: Re: What exactly are litecoins? Post by: HyperBeam on October 09, 2013, 08:01:44 PM You can also trade litecoins for bitcoins at exchanges like vircurex.
Title: Re: What exactly are litecoins? Post by: cakeboss on October 09, 2013, 08:01:49 PM I keep hearing about them once and a while but I never see any sites that take them and I dont really understand what purpose they play. Are they just easier to mine? If you want to make a noticable profit from Bitcoin mining nowadays you'll need to use ASICs. Litcoin (and many other altcoins) can't currently be mined using ASICs or even FPGAs, but can be mined using GPUs, so the purpose is mainly to give formerly BTC-mining GPU rigs something to do. Most altcoins can be exchanged for BTC or fiat. Eventually LTC will be as common as BTC is now, it's just that Bitcoin had a head start. Title: Re: What exactly are litecoins? Post by: DoctorBTC on October 09, 2013, 08:05:02 PM Litecoins are made by angels.
Title: Re: What exactly are litecoins? Post by: torry28 on October 09, 2013, 08:06:07 PM If you want to make a noticable profit from Bitcoin mining nowadays you'll need to use ASICs. Litcoin (and many other altcoins) can't currently be mined using ASICs or even FPGAs, but can be mined using GPUs, so the purpose is mainly to give formerly BTC-mining GPU rigs something to do. Most altcoins can be exchanged for BTC or fiat. Eventually LTC will be as common as BTC is now, it's just that Bitcoin had a head start. Maybe, but there are hundreds alternative coins with this characteristic, some dead already ;D Title: Re: What exactly are litecoins? Post by: Coinalot.net on October 09, 2013, 08:16:22 PM They are mined with the scrypt algorithim, which is different from bitcoins. Also, Litecoins are faster than Bitcoins because the average block time is only 2.5 Minutes. This also means there will be 4x more Litecoins than Bitcoins. Title: Re: What exactly are litecoins? Post by: sneeze on October 09, 2013, 08:18:30 PM You can trade LTC with multiple currencies on https://btc-e.com/. Easy to mine with GPU using scrypt but worth much less than BTC. If you have a nice farm running multiple GPU's with free electricity, it might be worth giving it a shot and perhaps use a trading bot or something to trade for BTC.
Title: Re: What exactly are litecoins? Post by: vervolioman on October 09, 2013, 10:38:46 PM I keep hearing about them once and a while but I never see any sites that take them and I dont really understand what purpose they play. Are they just easier to mine? Some info here: https://en.bitcoin.it/wiki/Litecoin Title: Re: What exactly are litecoins? Post by: aa on October 10, 2013, 05:06:18 AM What exactly are bitcoins?
https://litecoin.info/Main_Page Title: Re: What exactly are litecoins? Post by: kelsey on October 10, 2013, 05:45:36 AM They are easier to mine (than bitcoins) but they worth less. typo its one word 'worthless' ;) Title: Re: What exactly are litecoins? Post by: aa on October 10, 2013, 08:12:00 AM They are easier to mine (than bitcoins) but they worth less. typo its one word 'worthless' ;) |