bitcoin will not be replaced by litecoin.
Lol.
"Resilient against ASIC" means that ASIC makers aren't looking to investing in ASICS for Litecoin yet. There's no such thing like ASIC proof.
Lol, no.
scrypt requires memory. requiring memory = parallelization not nearly as cost beneficial. parallelization not nearly as cost beneficial = requires more money in relation to how many kh/s you want. requiring more money relative to how many kh/s you want = not anywhere near the same scale in advantage that they have in bitcoin. not anywhere near the same scale in advantage that they have in bitcoin = asic is not worth it. asic is not worth it = you would be a fool to invest in developing them, and a even bigger fool in buying them.
litecoin market cap is
459576625599 BITCOINS, btw...and the profitability (against all other altcoins as well as bitcoin) is literally through the roof ;-)
I really dont get your point. Doesnt bitcoin's security rest on something like a "multiparty computation"? if someone can develop a special, fast and cheap hardware to mine bitcoins that one could manage to overtake the network buy supplying > 50% of the computation power. isnt that harder to do with litecoin, once it has reached a "certain" size? you can not develop a specific hardware for litecoin mining or?
best regards,
xus
you can, but dont expect anywhere near the same scale in advantage that they have in bitcoin.
"Resilient against ASIC" means less secure, not more secure.
no, it does not. it's a tradeoff. it depends what you want security against. it's shameful how we have allowed the bitcoin pools to become so centralized (and that people seemingly refuse to use things like p2pool) and now with all the custom hardware we also have even more hashing power being centralized into the hands of fewer people still. That makes bitcoin doubly centralized, pools and people with custom hardware. When there was the unexpected blockchain fork this was shown very clearly, and it's fucking disturbing. This pretty much defeats the entire purpose of having a cryptocurrency when control falls over into the hands of very small set of people.
