So just paid £300 in btc and made £520 in a month or so, spend all on LTC?

[zeuzzz]

Hello, first post Got a lot to learn. Been lurking for a while.

I was just thinking that surely since LTC is at the moment the fall back for BitCoin and still in beta stage? and thus very cheap, its likely to rocket pretty damn soon? Just basic market expansion for an unprecedentedly quickly evolving profit making market.

Would others do the same or am I missing a major flaw with LTC? It is fully open source, right?

[140point6]

It seems to me that all of the alt-currencies are volatile and in beta stage. I was extremely late to the game and bought into BTC at $78 a few weeks ago after it crashed down from 260... using some basic market knowledge I have traded around and made 63% off my initial investment. LTC may be the way to go but I think if you are patient and place your buy and sell orders inteligently it is easy to trade the volatile nature of all the currencies. My two cents.

[b!z]

LTCs are not very useful imo, they're just a copy of Bitcoin and their only purpose (well for me) is to trade for Bitcoin.

BTC all the way for me.

[FreeMeBTC]

LTCs are not very useful imo, they're just a copy of Bitcoin and their only purpose (well for me) is to trade for Bitcoin.

BTC all the way for me.

Pretty much +1. I bought some LTC recently, but will be selling it off for BTC as soon as Mt.Gox lists it and the price jumps up. To me, Litecoin has no fundamental advantages over Bitcoin and has the significant disadvantage that it does not have the same market penetration that Bitcoin does.

[FreeMeBTC]

That said, I think there are some things that could be done to improve bitcoin, such as further developing the idea espoused in this article:

http://blog.cryptographyengineering.com/2013/04/zerocoin-making-bitcoin-anonymous.html

The cryptography underlying this technology seems to still be in it's infancy, but when it's ready I think that it would be an excellent addition to bitcoin (no need to start a whole new coin, let's just integrate it into the Bitcoin protocol).

[zeuzzz]

That article makes it sound like Bitcoin is a child smuggling currency or something:

This is because the block chain contains a record of every single Bitcoin transaction that's ever been conducted. Due to the way Bitcoin works, this information can't be limited to just a few trustworthy parties, since there are no trusted parties. This means all of your transactions are conducted in public.

The transaction at far left is almost certainly a drug deal.

In a sense this makes Bitcoin less private than cash, and even worse than credit cards. If you choose to engage in sensitive transactions on Bitcoin, you should be aware that a record will be preserved for all eternity. Spend with care.

So what if it's kinda public, i see that as a good thing it gives it some transparency. Whats the banking mafia gona do; take us all out

[zeuzzz]

hmm im reconsidering LTC. I've looked into the architecture behind ripple and XRP and it seems far safer due to less centralization of data. Would this be a safer bet? Or are both as high risk as each other?

[Otoh]

I'd recommend ltc atm by far, maybe see my comment in http://www.reddit.com/r/litecoin/comments/1d3fcw/4_ltc_1_btc_is_a_myth_and_here_is_why/

[zeuzzz]

Where did 4 ltc = 1 btc come from in the first place?

[Otoh]

Where did 4 ltc = 1 btc come from in the first place?

There will eventually be 4 times as many ltc as btc, 84M to 21M. I made an intro to virtual currencies site for friends (so it's not really public) but will PM you the URL - hopefully you may find it of interest/use, it emphasizes security aspects of holding VCs.