Bitcoin Forum

   Newbie question, but why would anyone want use an alt-coin like LTC?
   While its supposed to be anti-ASIC due to scrypt; aren't there ASICs coming out for it?

   So how would it be any better than bitcoin? Wouldn't an altcoin that prevents mining with anything other than a CPU be better?

So far the scrypt asics are only rumors. There isn't any real reason to "use" litecoins over bitcoins but people are thinking of litecoins as a solid crypto coin anyway and they bet that it will grow well alongside bitcoin  :P

ProtoShares is much better in my opinion. check it!

What a convincing arguement  ::)

There are no ASICS known to be released for LTC.  Somebody may be planning it, but even at $40 somebody must really want to corner the market to shell out that much $ that may be better spent on BTC.

ProtoShares is a scam. Not even a coin.

Maybe the cost of an ASICS for LTC is more expansive than that of a video card because of the high-speed memory. But once the producer choose lower-speed memory for compromise and can control the cost, the ASICS for LTC should will come out.

just for a quick buck. too risky for long term.

It's "shanzhai" in chinese.

IMO, Litecoin will continue to gain popularity and remain popular simply because it was second to the punch. I don't know the history of launch dates, but it would seem natural to me that the coins released at a date with the closest approximation of that to Bitcoin, even if the coin is technically identical for the most part, will gain popularity simply because Bitcoin gains popularity.

Kinda Consider LTC  the Silver next to bitcoin being gold


-04

I agree, I mined 5 PTS and bought some, waiting for the new coins comming out, so I can get a share of them  ;D

LTC is best coin out of all the alt coins.
It is good to buy some LTCs now as it will appreciate faster than btc.

First: LTC is like Silver for Bitcoins Gold.
Second: LTC uses scrypt, where currently is no asic arms race going. So even as a beginner you can mine them pretty good compared to BTC
Third: You can't predict the future. LTCs stock is going up and down like crazy some days. However, it's still the second biggest crypto available right now. And nobody knows when google comes around and says that sha256 is worthless, rendering BTC completly useless.

So its interesting to mine ltc currently and trade them in for other cryptos like btc or qrk or xpm

Don't you see. If companies are investing millions to produce new hardware dedicated to mine Litecoin that mean that Litecoin is worth something.
Get some before the jump.

So who is exactly investing millions in hardware dedicated to Litecoin?

Yeah, if you look at the chart of the price of BTC and LTC. The graph looks almost identical. When BTC goes up LTC goes up. Also there is a rumour BTC China will be adding LTC soon.

Actually out of all the Alt-coins, LTC is the most widely accepted.

I don't have the names in mind. Look for Litecoin FPGA and Litecoin ASIC.

Scrypt is not memory intensive inherently, that's a complete fallacy.

It's just that the most straightforward reference implementation depends on storing bit strings in memory instead of producing them on the fly.

It's entirely possible that computational speed can completely overcome the benefit of large amounts of memory with the right algorithmic design. Obviously there is a tradeoff between memory useage vs. number of operations, but what in computer science isn't like that?

When are they planned to be released?

because the fluctuations in the price can offer better profit opportunities. people want to earn too many but in bitcoin market it is very hard such a big spread...

Most of them 1st quarter of 2014.

EDIT : wrong estimate sorry, it will be 2 and 3rd quarter of 2014

1) Gold has it;s use , silver has it's use. Bitcoin has it's use , What the hell can you do with litecoin? Trading them against bitcoins , lols
2) Because everybody can mine LTC , is that a better coin? , Lol again. Asics will come fro scrypt too , just wait a few months
3) I think you really don't know what SHA256 is , nor what scrypt is.