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Author Topic: All of the alt-crytpos are sliding down  (Read 3887 times)
KFR
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May 15, 2013, 12:47:55 AM
 #41

IMHO it's not about the speed.  It's about the choice of hashing algorithm.

They're trying to buy all the coins. 
We must not let them.
kokojie
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May 15, 2013, 04:35:41 PM
 #42

LTC's fast confirmation time is a huge plus, a lot of people on this forum already prefer LTC for trading things.

Tell me again, why is the 2 min confirmation superior?

Because for vast majority of trades, the most important thing is the first confirmation, once you have first confirmation, you can be very confident that this is transaction is good. It takes at least 10% of network power to have a small chance at double spending a 1 confirmation transaction, no one would do it for small trades.

There are 1 hour blocks in Bitcoin nearly every single day, that means very often, a trade in Bitcoin would take over 1 hour to reach 1st confirmation.

There's nearly no 1 hour blocks in Litecoin, for vast majority of trades, litecoin will reach 1st confirmation in a matter of 1-2 minutes. That's why it's superior.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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