Bitcoin Forum

What are the advantages of Litecoin over bitcoin (or any other altcurrency)?

It's faster, but too fast?
more secure?
is acceptance and an economy emerging, like for btc?

Just some thoughts.. Interested in the forum opinions, thanks.

Faster is a really good one, it is more user friendly to buy smaller items it is by far the best alt to btc all these others are just wanna b's

It's the biggest altcoin, second biggest market cap in cryptocurrencies, uses a different hashing algorithm, and I think that's it.

I don't see faster confirmations as factor with big weight, pretty sure there are a lot of alts with way faster confirmations and nobody cares about them...

Litecoin ecosystem also pretty good, it is traded in a lot of exchanges and has an active development.

over most alts one of the very few not designed to make the original dev fiat, so pretty much as fair as they get.

over all alts, greater liquidity then any other in fact greater liquidity then all other alts combined, which in real world markets liquidity is of greater importance then price.


over bitcoin, its original dev is not anon, bitcoin's anon dev maybe worshiped around here but outside in the mainstream community an anon creator well, conveys less trust (whether that be real or imaginary especially if that anon dev holds a significant % of that coin).

Big volume with high liquidity.

Its a slightly faster version of Bitcoin and that is all to it. It is going to keep dropping slowly and eventually die.

It used to be resistant to mining with ASICs, but now you can buy specially designed ASICs to mine it with. That was its biggest advantage over bitcoin.

Only confirmations are faster, not the transaction.

no chance because us traders love it  ;D

The most advantage of Litecoin is its popularity.

But its value still decreasing that makes its advantage unsustainable.

Litecoin needs innovative developers like Darkcoin to keep its value grow again.

Faster confirmations don't matter. Given equal network strength, you need 4 litecoin confirmation to equal each bitcoin confirmation. Given the fact that the network strengths are not equal, you need considerably more. Someone else can run those numbers for chuckles.

Litecoin used to be an intermediary currency between other new alts. Now people trade directly between bitcoin and alts. Litecoin's price has dropped so much, it has also lost its store of value appeal. I think the only aspect keeping it going is its market cap and user base.

Interesting stuff, especailly about anonymity.
cheers!

A lot of good points raised..

I support Litecoin and hope it does not die out. It is a good alternative to BTC for cheaper items as someone said..

Kind of worried that it may die out though... looking at a historic price chart downwards, and a lack of mainstream adoption... unfortunately.

All the best!

as already stated being faster is its most redeeming quality and that really good for an alt coin.

Litecoin has developed user base and exchange base. Litecoin has developed strong network.  Litecoin is stronger than most think.

It's not really faster or any more secure. Sure the confirmations are faster but the transfer is, like bitcoin, instantaneous,  but quicker confirmations doesn't make it more secure. Also, litecoin just doesn't have the adoption that btc does so it's kind of pointless imo.

Its way faster than bitcoin. It is not popular yet. Litecoin founder is not interested in improvements except implementing side chain. There are many new alt-coins with rich features.

False. The confirmations are faster but that's it. The network security is also much weaker.

Yes. It's much weaker than BTC but still has a strong mining community behind it.It's still secured by the second most hashing power relative to algorithm demands.


Only concern is that two giant pools make up greater than 50% of the network. BTC's distribution seems to be much more diversified.

That aint true either. Litecoins hashrate is super low compared to other coins like Devcoin, Ixcoin, Namecoin, and moree. Litecoin is the original shitcoin. The shitstain of cryptoland.

Raw hash doesn't add security the spread of it does, and in this both btc and ltc are less secure then they previously have been.

Personally anyone who considers any crypto as having bullet proof security is living a fairy land.

Ok spread, 2 pools control over 50% of Litecoin's entire hashrate...what were you saying?  ;)

yes and just one pool recently almost did that alone with bitcoin, as I say tis an equal problem with both, though u could also equally argue there are greater security risks then a 51 attack.

Buoyancy

https://upload.wikimedia.org/wikipedia/commons/thumb/7/74/Buoyancy.svg/220px-Buoyancy.svg.png

Litecoin is the lightest of all crypto.  Therefore, it will be able to float above the rest of crypto like a balloon.  Litecoin is best investment evar.

All those holding large amounts love it. Gradually it is going to erode.
After ScryptASICs I don't see the point of LTC at all. It does nothing better than BTC, and have none of the latter's network effect.

well then i take it you don't even know the reason why ltc was scrypt in the first place?

To be different. So what?

NOTE: long speculative rant ...and i've  no idea on outcome ...either way LTC dead or otherwise..just the position of an asic miner at this point in time (ie stuck)
         feel free to skip below and/or put me on /ignore...i don't mind...you've been warned ramblings below.....(again asic miner skewed perspective to be clear)


so I'll give you why I'm mining LTC and holding (not that as you will see below i seem to have any choice) ... due to limits on full hash on equip (best LTC) and the stupid
knc titan no roi no refund purchase in the first place..

the setup:

now from my miners perspective.....from when i stated mining LTC (the only thing by the by that a Titan can mine full out with out a lot of hassle at least the first 3 months
not sure about current firmware) Nov 8th 2014 when i fired it up i was getting like 5.8 LTC on ghash and it was 3.80 a LTC now.  I'm getting on the 1 Titan 8.2 LTC per day..and the price is 2.00 usd ....so from my (admittedly dumb!.. knc purchase of the titan back in the day ..getting out of the hole $$$$ wise) perspective diff now is actually lower then when I started on Nov 8th mining LTC (hey it was my only choice with firmware/software on the SD at the time)..so sure i've lost a bit..but with diff unchanged and what i get out of the titan now per day vs when i started it up...anyway you can see my point on why (at this time) i'm mining LTC as fast as the little bugger can fly!

so...from the miner perspective...i've been mining LTC like all get out and the price has been around 1.70 to 1.80 say.. for a lot of that time....diff again is lower then when i started and from that point of view all is well....may not know where i am or where I'm going..but damn I'm making good speed

also I'm holding on the 'vain' if desperate hope that this mistake of a purchase of a knc no roi no refund titan 300mh can be 'lessened' as a loss somewhat by a 'hopeful' (if futile) chance that LTC will pop or at least stay at the 7/10's of a 1% it is now as BTC rises and again due to the fact of the firmware/software SD on the titan units....you can mine full out on LTC and if all else fails convert directly to $$$ or other POW coins on the fly..using multipools...but again what ya gonna do mine another ALT at 200mh or mine LTC at 300mh and convert or cash out....so everyone with these large 1st batch asic units are mining ..imho..even if not holding LTC initially


The choice of one out of the two below likely outcomes imho:


so anyway one of 2 things will happen to LTC (also realize my situation owning these miners skews my perspective)


1) People like me with large asic machines will continue to mine LTC as the more or less only bet at full 300mh speed w/o equip issues ..in that knc tiitan's are probably 90% of the market for 300mh plus machines (maybe innsilicon is say the other 10%) ..this will be the only game in town....for Titan users to mine and 'probably' hold...remember they are 'mining' it at $2 so the 'expectation' on this #1 of two options here is that they will hold....and hope like hell for a pop in price

also the 2nd batch of titans are due out in two weeks or so according to knc that will be 2.5k of units I've heard at a revised 400mh to 450mh slam into LTC and/or other POW coins......if they do the same kinda game as the 1st batch titan users that I know (ie me) ....mine like hell and 'so far' hold LTC......LTC may NOT  be as dead as everyone thinks...and/or the other the  other possibility....that all this 'attention' of 2.5k of 2nd batch titans hitting the world in 2 weeks and concentrating on LTC will cause a rebirth of the coin ...from the fact so much frigging mining/attention and holding may result from that equip hitting the world and again due to knc's lousy firmware/SD software.....you can run this stuff full out on LTC ..other alts (this may have changed in last month) maybe 1/2 speed at 150mh so ....from the Titan users I know it is full out to the wall  on LTC (even if you do cash out to BTC or usd with it each day on a multipool).....so imho will this dump/jump/cannonball into the pool of LTC cause its revival ....again this is possibility #1 when these 2nd batch Titan scrypt miners hit the world.

2) in this completely opposite option ....the 2nd batch titans hit the world and with the mass attack of these large asics and the fact everyone lost their ass on them $$ wise on there titan purchases....they will mine LTC and convert to $$$ or BTC directly cashing out...trying desperately to get their ROI back on the equip purchase mistake....driving the difficulty up and price down and will kill ALL POW (proof of work coins) deader then a door nail including LTC eventually.

This ...(from the point of this 2nd option) is in that there are NO PLANNED SCRYPT EQUIP OF ANY KIND EITHER AVAILABLE FOR SALE ANYMORE AT 100MH TO 300MH OR ABOVE ....AND NO PLANS FOR ANY FROM ANYONE I HAVE FOUND IN THE FUTURE...INCLUDING LARGE DATA HALL FARMS FOR SCRYPT MINERS PRIVATE OR OTHERWISE...supposedly knc has no plans for such either.....so with no new equipment and difficulty due to these miners skyrockets upwards....and .....electric costs vs difficulty and profit  start to slowly starve out by being shut off the miners at 25mh then 50mh then 90mh then only 300mh left worth running elec to diff etc......LTC AND ALL POW COINS NOW DIE because people have moved on to POS or BTC etc because NO NEW EQUIP OF ANY KIND DATA HALL ONLY OR HOME MINERS ARE IN THE WORKS OR PLANNED TO BE IN THE WORKS...so again all pow coins will eventually be dead (including LTC) and they just don't know it yet (again prob wrong x11 coins are doing ok and they are gpu but still) due to this massive dump onto the LTC and POW network of the last of the scrypt equipment ..of any mass ...hitting the network(s)

I've no idea which is going to be the case..just lumping up the float/sink options above in a couple of choices

needless to say I"m mining LTC like a bat out of hell on www.litecoinpool.org .no idea..it is...like being lost on the freeway i've no idea where i am or where i am going but damn i am making good time........but that above is the kicker...will this mass dump of large asic miners help LTC and other POW coins (again remember Titans the at least initially will mine LTC even if they do convert to other coins to hold later..bang for your buck mining don't ya know) again going from those i know that are 'currently' mining LTC with the 1st batch Titans and holding for a pop up in price ...again on our 'vain' roi hope from the lousy Titan investment..and holding on a hope and a prayer ..making LTC viable now and in the future by showing growth/use esp with the 2nd batch titans likely to be in my boat and mine LTC full out at least initially ...again this guess is they mine and hold?

or

will again this 2nd batch of around i heard 2.5k of Titan units ...not at 300mh but at 450mh ..all hit the world and they will mine like hell and cash out the LTC (likely initial coin mined) to $$$ and or convert to other POW coins say ASAP ie daily driving difficulty up and price down from the splash they make in the POW pool..thus killing LTC like Titans killed scrypt-n coins..and again .no further equip so diff will be run up high on all pow coins and price driven down ..thus the demise of LTC and 'eventually' other pow coins? again they don't mine and hold LTC on a hope of it coming back they get $$$ out or convert asap


so just tossing it out there to complicate this 'LTC is DEAD" thread....you very well could be correct on that ...but imho if you are correct on that using scrypt miners that EXIST NOW with no further ones being planned at all in the future ...scrypt miners of the 300mh or above i mean...well imho that means all POW coins will eventually die...and likely LTC will just be the first to go (or last) depending on the above factors of what these Titan miners do...again imho

me.....keeping my LTC address paper wallet around for quick access in case I have to dump some coin because the 2nd batch Titans hitting the  POW coin pool (and esp LTC) swamps the boat and i need to bail and get out asap ..ie cash out and walk ..but again having 1000 LTC mostly mined at around 1.75 or so and now it is at 2.00 that has worked 'so far' keeping my options open

to complicate this ....add to the fact that LTC will "dump 1/2" in payouts

http://bitstacks.org/litecoinClock.html


in like  days from 50 coin payout to 25 coin payout and you as the ancient Chinese curse says "may you live in interesting times" :)

anyway my guess again it will be either option #1 or option #2 above

but as to which of the above is likely to happen i've no clue (we are dealing with a bunch of funny clueless hairless primates in all this ...good to keep in mind)

anyway the hole $$$ wise I'm in from my dubious knc no roi no refund titan 300mh 1st batch purchase .....we will see which way the mop flops ..so to speak

feel free to chime in..this is just my viewpoint at the bottom of the hole looking up......
 

Probably like silver to bitcoins. Bitcoins is gold.

No. They have exactly the same properties on the user end. The difference only matters to miners and people who like to look through code. That's why shitcoins are also called clonecoins.