If there is place for one cryptocurrency, there is/will have place for other ones.
The main value of Litecoin is that :
* it has a different encryption algorithm
Really? Are you saying the public key crypto is not ecdsa with the secp256k1 curve? What is it then?
I stand corrected.
The
transaction encryption is different.
So it's a kind diversification against a potential 51% attack on Bitcoin, not brute force hacking.
Note: Litecoin may be the (only?) first to have trouble like this.