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Nolo (OP)
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October 10, 2012, 03:36:59 PM |
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Would it be more profitable to keep funds in Bitcoins or Litecoins? The past couple of weeks have looked very bullish for Litecoins.
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Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Spekulatius
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October 10, 2012, 04:21:06 PM
Last edit: October 10, 2012, 04:48:33 PM by Spekulatius |
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Idk, there are no true advantages for litecoin over bitcoin that I can see.. so longterm, given bitcoins head start I think litecoin will fade away. Short or Midterm however some new developments like litecoindice and whatnot can probably contribute to appreciation in price.
Also, litecoin or namecoin prove to be pretty good hedging instruments during bitcoin down trends.
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jimbobway
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October 10, 2012, 04:44:20 PM |
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Litecoins will eventually die. Namecoin is much better than Litecoin.
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ElectricMucus
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Marketing manager - GO MP
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October 10, 2012, 05:32:58 PM |
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Interesting to see the same arguments brought up against bitcoin are used here. Way to be a hypocrite. Litecoins will eventually die. Namecoin is much better than Litecoin.
Butthurt? |
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Nolo (OP)
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October 10, 2012, 05:44:25 PM |
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Litecoins will eventually die. Namecoin is much better than Litecoin.
Any logic or reasoning behind this thought? |
Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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jimbobway
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October 10, 2012, 06:15:58 PM |
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Litecoins will eventually die. Namecoin is much better than Litecoin.
Any logic or reasoning behind this thought? No, not really. Just my gut. Maybe I'm wrong. |
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Nolo (OP)
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October 10, 2012, 06:55:29 PM |
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Litecoins will eventually die. Namecoin is much better than Litecoin.
Any logic or reasoning behind this thought? No, not really. Just my gut. Maybe I'm wrong. Well dang. I was hoping you had some insight that I haven't seen before. Right now I tend to buy into the line of thinking that BTC = Gold, and LTC = Silver. |
Charlie Kelly: I'm pleading the 5th. The Attorney: I would advise you do that. Charlie Kelly: I'll take that advice under cooperation, alright? Now, let's say you and I go toe-to-toe on bird law and see who comes out the victor? The Attorney: You know, I don't think I'm going to do anything close to that and I can clearly see you know nothing about the law.
19GpqFsNGP8jS941YYZZjmCSrHwvX3QjiC
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SgtSpike
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October 10, 2012, 06:57:36 PM |
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I just don't see the point of using Litecoin instead of Bitcoin. What is the point of Litecoin even existing, when Bitcoin can already do everything Litecoin can do?
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Cablez
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I owe my soul to the Bitcoin code...
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October 10, 2012, 07:03:09 PM |
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I just don't see the point of using Litecoin instead of Bitcoin. What is the point of Litecoin even existing, when Bitcoin can already do everything Litecoin can do?
And that is the kicker........+1 |
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Check my products or ask a question here: https://bitcointalk.org/index.php?topic=74397.0
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gimme_bottles
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October 10, 2012, 07:41:39 PM |
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I just don't see the point of using Litecoin instead of Bitcoin. What is the point of Litecoin even existing, when Bitcoin can already do everything Litecoin can do?
thats why namecoin will last longer than litecoin. it has a point that bitcoin doesn't have. |
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RyNinDaCleM
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Legen -wait for it- dary
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October 10, 2012, 08:34:57 PM |
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I just don't see the point of using Litecoin instead of Bitcoin. What is the point of Litecoin even existing, when Bitcoin can already do everything Litecoin can do?
The only real plus is the block times! There's just something nice about having a fully confirmed transaction in 20 mins or so. |
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julz
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October 10, 2012, 09:54:13 PM |
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I just don't see the point of using Litecoin instead of Bitcoin. What is the point of Litecoin even existing, when Bitcoin can already do everything Litecoin can do?
The only real plus is the block times! There's just something nice about having a fully confirmed transaction in 20 mins or so. I don't get this. 20 minutes of hash-power securing the chain is still only that much hash-power that an adversary needs to work against. All this is doing is lowering the chain's security level of what is called 'fully confirmed' surely. |
@electricwings BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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ElectricMucus
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October 10, 2012, 10:05:09 PM |
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I just don't see the point of using Litecoin instead of Bitcoin. What is the point of Litecoin even existing, when Bitcoin can already do everything Litecoin can do?
The only real plus is the block times! There's just something nice about having a fully confirmed transaction in 20 mins or so. I don't get this. 20 minutes of hash-power securing the chain is still only that much hash-power that an adversary needs to work against. All this is doing is lowering the chain's security level of what is called 'fully confirmed' surely. What matters is the first confirmation, because of usually exessive hasing power this means that for almost all transactions one confirmation is sufficent. An ideal cryptocurrency would even provide a confirmation after a fraction of a second, it would just need someone to come up with a clever trick so the system is scaleable and efficient. |
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proudhon
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October 10, 2012, 10:08:43 PM |
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I think LTC still has some life in it, and it could end up getting stuck into an inverse price relationship with bitcoin, which would be interesting. I don't see any reason to think of it as a serious contender against bitcoin. I bought a bunch a while back as a gamble to recover my bitcoinica losses and I've almost done so. FWIW, I sold about 20k LTC this morning for BTC.
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Bitcoin Fact: the price of bitcoin will not be greater than $70k for more than 25 consecutive days at any point in the rest of recorded human history.
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DeathAndTaxes
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Gerald Davis
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October 10, 2012, 11:04:36 PM |
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Litecoins will eventually die. Namecoin is much better than Litecoin.
Any logic or reasoning behind this thought? No, not really. Just my gut. Maybe I'm wrong. Well dang. I was hoping you had some insight that I haven't seen before. Right now I tend to buy into the line of thinking that BTC = Gold, and LTC = Silver. Bitcoin is Bitcoin's silver. Rather than marketing speak think about why silver (and copper) coins were created in the first place. Why wasn't just gold always used for everything from a Kings ransom to a poor man's meal? Does Bitcoin have that limitation? |
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SgtSpike
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October 10, 2012, 11:10:40 PM |
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I just don't see the point of using Litecoin instead of Bitcoin. What is the point of Litecoin even existing, when Bitcoin can already do everything Litecoin can do?
The only real plus is the block times! There's just something nice about having a fully confirmed transaction in 20 mins or so. I don't get this. 20 minutes of hash-power securing the chain is still only that much hash-power that an adversary needs to work against. All this is doing is lowering the chain's security level of what is called 'fully confirmed' surely. What matters is the first confirmation, because of usually exessive hasing power this means that for almost all transactions one confirmation is sufficent. An ideal cryptocurrency would even provide a confirmation after a fraction of a second, it would just need someone to come up with a clever trick so the system is scaleable and efficient. Spellcheck dude. While I agree that the first confirmation is what matters, litecoin's 2 minute blocks don't provide much true advantage over bitcoin's 10 minute blocks. If litecoin had 10 second blocks or less, then we might be talking. And actually, I'd love to see someone try that (with maybe 2 second blocks) just to see how it works with the Bitcoin protocol as-is. Block headers really aren't that large, so I don't think there'd be a huge file size difference between the two. Chains would obviously fight each other to be longest here and there, tons of orphan blocks, etc, but ultimately, a person's transaction is going to be confirmed very quickly, even if it is confirmed and reversed a couple of times before being truly set in stone. So, back to litecoin vs bitcoin. 2 minutes is still far too long for any reasonable point of sale operation to wait, so despite the advantage on the surface, I can't think of any scenarios where this offers a large advantage over Bitcoin. 2 minutes is still a long and awkward time to wait. |
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labestiol
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October 10, 2012, 11:11:43 PM
Last edit: October 10, 2012, 11:22:59 PM by labestiol |
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Litecoins will eventually die. Namecoin is much better than Litecoin.
Any logic or reasoning behind this thought? No, not really. Just my gut. Maybe I'm wrong. There is something to this. Namecoin is build to be a database (of DNS primarily, but other things could/will emerge, like a name->btc address). Litecoin is just an attempt to solve the "slow" confirmation problem, while it doesn't solve the "instant" confirmation problem needed (for which the solution already exist, namely green addresses). So I agree with jimbobway. Namecoin is much better than Litecoin (imho). Namecoin is a share in this decentralized database, which will (perhaps) grow. Litecoin is a solution to a fake problem. Just my 2 satoshis |
1BestioLC7YBVh8Q5LfH6RYURD6MrpP8y6
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MysteryMiner
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Show middle finger to system and then destroy it!
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October 10, 2012, 11:26:21 PM |
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I recommend Ixcoin over Litecoin.
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bc1q59y5jp2rrwgxuekc8kjk6s8k2es73uawprre4j
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ElectricMucus
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October 11, 2012, 01:11:22 AM |
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One thing going for litecoin is that, well it does use another method for blockchain hashing.
In itself that isn't that great, but it is worth something because it enables you to even hedge the risk of some issues with SHA-2.
Before I am ridiculed for that statement: Have you noticed the announcement about SHA-3?
Yeah the contest is finished, and as I mentioned before there will come the time where cryptoanalysts in academics can hack at it without some three letter agency representative showing up at campus.
That is not certain to have any effect, but it might have...
IMO the SHA-3 contest ending is probably the most fundamental explanation for the push in litecoin valuation.
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payb.tc
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October 11, 2012, 01:33:18 AM |
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i think litecoin would have a use even if it were an absolutely identical clone of bitcoin.
the thing that it can do that bitcoin cannot, is it can help you diversify away from bitcoin, while not converting to fiat.
that alone is worth something.
i much prefer btc/ltc/btc speculation than any other pairs involving fiat.
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