Why Litecoin?

[aspect]

I own both Bitcoins and Litecoins, however, my personal preference goes toward Litecoin.  My personal reasons for this have to do strictly with how coblee has released it.  Pre-announced, and in the fairest way possible. I also have great respect for coblee for how he and his team are supporting it and how he has dealt with various issues in the past.

While Bitcoin is original and truly amazing, my only issues with it are things like this: https://bitcointalk.org/index.php?topic=37333.0;all

Now, like all Bitcoiners, I realize that there was no other way, and I don't really mind.  However, this makes me feel that Litecoin is more fair.  Plus, there is still ~2.5 years left till halfing occurs, so there is plenty of opportunity for newcomers (who were brought in by the media attention to Bitcoin) to acquire it or mine it.

I also know that 0.8.1 is in the works, however, a lot of aspects of working on the client are complex and from what I gather, the developers working on this do not want to rush things and observe how Bitcoin network handles May 15.  They are concerned for the health of the Litecoin network and do not want to end up with something like this: https://bitcointalk.org/index.php?topic=152348.0

While Bitcoin as a currency/community can handle this due to it's huge support, something like this happening with a smaller cryptocurrency has a potential of destroying it.  If not, it would certainly give enough weapons to the hostile part of the Bitcoin community to attempt to discredit it.

I support both networks and I think that communities should stop fighting over this.  If your original purpose of this post was to find out which cryptocurrency you should use, I would say that you should use both.

[soundasleep]

I like Litecoin because: transactions are faster (and that makes a huge difference); the blockchain is currently smaller; and it's unlikely mining will be controlled by a dozen ASIC-wielding maniacs. (If the price of entry into a crypto is too high, that's hardly secure.)

I don't like Litecoin because: botnets are much more likely to mine; I don't have a local LTC exchange; Litecoin Explorer doesn't have as great an API as Blockchain.info, making it harder to accept LTC payments; the client still requires 0.1 LTC default tx fee (changing with 0.8.1 I hope).

[furuknap]

I wanted to chime in with my Ł0.02 too, so I wrote this article:

http://coin.furuknap.net/why-litecoin-has-a-place-in-the-cryptocurrency-community/

.b

[randrace]

• The price is purely driven by speculation. There are currently next to zero applications for Litecoins. The only thing one can do with them is buying them on an exchange and hoping that they can be sold for more money at some later point. If I'd felt like gambling I'd rather use Satoshi Dice with Bitcoins instead.

I think this is a misconception. I started purchasing Litecoin because I have a monthly bill with Bytesized Hosting and they accept Litecoin. I bought them to spend and, to some extent, people like me are helping to drive the price up.

[efodix]

Why litecoin? Because you can't mine on p2pool without fees killing you (I have mined with 2*7950's diff/10 and sending 10LTC costs me another 10LTC in fees). Because you need a GPU farm to make real money, just like an ASIC farm in bitcoins. Because it's mining profitability is still lower than bitcoin regardless of ASICs. Because it's a ripoff that lags behind bitcoin "in order to ensure stability".

There, I hope I answered your question.