What's with all these coins

[Sub7]

What on earth is a Litecoin?

[naphto]

It's a LTC.

[Sub7]

What is it relative to Bitcoin.
Is it Bitcoin 2.0 or some sort of freak of nature.

[Liquid]

http://en.wikipedia.org/wiki/Litecoin

https://litecoin.com.au/viewtopic.php?f=6&t=68

[letuslook]

What on earth is a Litecoin?

Hi Sub7,

Litecoins are just like bitcoins a form of cryptocurrency. You can see bitcoin as the main cryptocurrency and there are many alternative coins like litecoins, feathercoins etc. How i see it is that if bitcoins are gold then litecoins are the silver.

Have look on the litecoin page: https://litecoin.org
Or read more about the alternative coins on the bitcointalk.org sub forum: https://bitcointalk.org/index.php?board=67.0

Cheers,

~ Luc

[MineriaCloud]

What is it relative to Bitcoin.
Is it Bitcoin 2.0 or some sort of freak of nature.

Its a fork from Bitcoin that uses another type of cryptography.

Some people consider it the Silver, while Bitcoin is the Gold.

Besides Bitcoin (BTC) and LiteCoin (LTC)

I don´t think you should care about others for now. We have more than enough with the current ones.

[Sub7]

Thanx for all replies.

Are there any plans or discussion about developing Litecoin specific hardware?

Other than mine bitcoin as intented, what other use for a bitcoin ASIC?

[MineriaCloud]

Thanx for all replies.

Are there any plans or discussion about developing Litecoin specific hardware?

Other than mine bitcoin as intented, what other use for a bitcoin ASIC?

Litecoins are supposed to be resistant to ASIC development, since it would be hard or not cost effective to make them.

But then again...

Litecoin was said to be restricted exclusively to CPU mining, then it changed to GPU, so it already missed on that promise.

In the future it could be possible to see ASIC mining for LTC, but not sure how much more performance you would get from them, and even if its possible it will not be the case for some years.

LTC is supposed to be more resistant to it, but nothing is impossible.

[Endgame]

There is some litecoin FPGA's under development, but nothing completed so far. There is some discussion on this over at the litecoin forum: https://forum.litecoin.net/index.php/topic,648.0.html