Will LTC make it or BTC be the lone king?

[smoothie]

I do feel its got an advantage over BTC on a technical level

What advantage would that be?

Litecoins are good for buying bitcoins. And it is only thing it is better at than Bitcoin as buying bitcoins for bitcoins makes no sense.

i bought bitcoins with bitcoins. twice. made perfect sense to me. for those bitcoins i acquired were from the 10.000 btc pizza transaction and everybody with blockchain has the proof. but those are special trades.

Well if you buy Casascius bitcoins with bitcoins...aren't we doing that too? Buying bitcoins with bitcoins? 

Those are not really Bitcoins. That is a currency built on top of Bitcoin backed by full faith in Casascious, the issuer. Bitcoin has somewhat different properties.

Okay let's meet in the middle and say we are both half right.

If it is backed by bitcoins then essentially you are buying bitcoins despite what form they were packed or came in.

True bitcoins do have different properties but to say you can't buy bitcoins with bitcoins is not 100% true once you bring up Casascius. Just my opinion though.

[adpinbr]

Ltc is overpriced , most people hope that will make fast profit if mtgox adopts it , but i dont see the demand for it.

I don't see how LTC is overpriced and BTC isn't. in both cases you are looking at their potential value. Anyone else think BTC is the better investment ATM? growth wise LTC could expand way more IMHO

[Qoheleth]

WRONG: Trading bitcoin wallets is stupid.

User A can just keep a copy of their wallet and then sent the funds shortly thereafter to another bitcoin address thus screwing user B. Try again  

Yes trading fiat in person is true...good point. But problem with fiat is well it is paper and backed by bullshit. So it isnt a bad medium for paying for bills etc or getting cash off of an exchange without tax implications but it isnt the best medium to stay in based on its flawed fundamentals of devaluation to 0.

Then in-person mixing - A sending coins to a fresh address owned by B, B sending coins to a fresh address owned by A.

Or in-person trades of BTC for gold rounds.

The point is that there are a lot of ways to break the transaction chain that are just as good as BTC/LTC trading, and that don't have any requirement of a whole separate superfluous currency with identical properties and features to BTC.

If the LTC developers were to implement some more interesting features (the zerocoin protocol, for example), that'd be enough to get my attention. But as it is now? Nah.

[Tirapon]

Litecoin is good for speculation. That's enough to give it a fair amount of value apparently. I need to learn more about the differences between scrypt and SHA256 to pass an educated comment on that, but somehow I think its a good thing to have two coins which use different hashing algorithms.

[dacoinminster]

Whether LTC will "make it" isn't very interesting to me. What is interesting to me is whether an alt-coin will ever overtake bitcoin. That's why this bet is coming soon to betsofbitco.in:

An alt-coin will take the lead from Bitcoin before 2015

This statement is true if on or before January 1st 2015 any alternate distributed currency has displaced Bitcoin as the biggest crypto-currency, as determined by total market cap.

* Market-cap does not include any scheme creating artificial scarcity, such as "pre-mined" coins which are known to be held back from trading. (e.g. Ripple)

* New protocol layers built on top of bitcoin do not count. This bet is about whether bitcoin will be displaced, not whether someone will expand bitcoin.

Will we see an alt-coin that improves on the bitcoin idea so much that most people choose it over bitcoin? You decide - place your bets now!

Once approved, the link to this bet will be: http://betsofbitco.in/item?id=1630

[smoothie]

Whether LTC will "make it" isn't very interesting to me. What is interesting to me is whether an alt-coin will ever overtake bitcoin. That's why this bet is coming soon to betsofbitco.in:

An alt-coin will take the lead from Bitcoin before 2015

This statement is true if on or before January 1st 2015 any alternate distributed currency has displaced Bitcoin as the biggest crypto-currency, as determined by total market cap.

* Market-cap does not include any scheme creating artificial scarcity, such as "pre-mined" coins which are known to be held back from trading. (e.g. Ripple)

* New protocol layers built on top of bitcoin do not count. This bet is about whether bitcoin will be displaced, not whether someone will expand bitcoin.

Will we see an alt-coin that improves on the bitcoin idea so much that most people choose it over bitcoin? You decide - place your bets now!

Once approved, the link to this bet will be: http://betsofbitco.in/item?id=1630

I disagree. The more interesting aspect is how the current financial, regulatory, international laws will try to kill bitcoin (obviously can't really) or will end up slowly dying because good money drives out bad money in a system.

Cryptocurrency in general will likely be what may be a huge blow to the status quo of the banks/etc.

[adpinbr]

Whether LTC will "make it" isn't very interesting to me. What is interesting to me is whether an alt-coin will ever overtake bitcoin. That's why this bet is coming soon to betsofbitco.in:

An alt-coin will take the lead from Bitcoin before 2015

This statement is true if on or before January 1st 2015 any alternate distributed currency has displaced Bitcoin as the biggest crypto-currency, as determined by total market cap.

* Market-cap does not include any scheme creating artificial scarcity, such as "pre-mined" coins which are known to be held back from trading. (e.g. Ripple)

* New protocol layers built on top of bitcoin do not count. This bet is about whether bitcoin will be displaced, not whether someone will expand bitcoin.

Will we see an alt-coin that improves on the bitcoin idea so much that most people choose it over bitcoin? You decide - place your bets now!

Once approved, the link to this bet will be: http://betsofbitco.in/item?id=1630

I disagree. The more interesting aspect is how the current financial, regulatory, international laws will try to kill bitcoin (obviously can't really) or will end up slowly dying because good money drives out bad money in a system.

Cryptocurrency in general will likely be what may be a huge blow to the status quo of the banks/etc.

+1

[adpinbr]

Normally BTC should easily hit 5K within a couple years at current rate. the issue is will the government and banks stop it, or impose such fear its not worth for average Joe to use it

[Qoheleth]

Still traceable. I still know that both new addresses had coins sent to them from a "known" owners address.

And it's the same with Litecoin!

Frank and Helen want to break the chain of ownership. Frank controls address A with money and a new address C. Helen controls address B with money and a new address D.
Whether they're trading bitcoins for bitcoins, litecoins, BBQCoins, colored coins on the Bitcoin network, whatever, as long as they're both objects on a public blockchain, the information possessed by an attacker is:
A transferred coins to D.
B transferred coins to C.

Unless there's some other use for litecoin here, it has added nothing in terms of security or safety.

Yes you are right but to say that you can do the transaction without being traced only using bitcoin is flawed. You need something to trade otherwise trading btc for btc makes no sense.

Then trade for gold rounds. Trade for literally anything physical. None of that stuff is on a blockchain. That still gives data miners less information than trading LTC for BTC.

[chriswilmer]

People often make the abstract argument that if Bitcoin was somehow "shutdown" by governments, the idea of cryptocurrencies would already be out of the bag (and impossible to stop). For me, Litecoin is a pretty concrete implementation of this point. The very existence of a functioning Litecoin economy might discourage governments from even trying to shutdown "Bitcoin" because the futility of the effort is more obvious.

[Qoheleth]

OMG you are totally missing the point.

The point wasnt to say that Litecoin is better than Bitcoin.

My point, now follow carefully, is the Litecoin allows Bitcoin to do something it couldn't on its own (by itself). This is true when exchanging in person BTC for cash, silver, gold etc. but my point is that Litecoin's properties being similar to Bitcoin's gives it that edge in terms of transferring value long distances.

Bitcoin needs something to exchange for. But if you are just trying to obscure authority then anything of value traded for BTC in person will accomplish that. Bitcoin does not have this feature on its own.

I guess what your motive for what you trade for comes into play. If you want to be able to transfer wealth across borders constantly then LTC or another secure crypto is the way to go with using Bitcoin. But if you just want to convert bitcoin to real goods without taxes then that works too.

Let me see if I understand.

Litecoin is valuable because it's something you can buy/sell for bitcoins that has all the same properties as bitcoins?

[ElectricMucus]

Oh btw notice something?

http://thepiratebay.sx/

[fenican]

LTC has been gaining ground on BTC since its inception and has key technical advantages

I would say LTC is (1) entrenched and (2) gaining ground.  I don't think BTC advocates have much, yet, to worry about but they should keep on eye on LTC.

LTC is not silver to Bitcoin's Gold but, rather, is Android to Bitcoin's iOS.  We'll see how it plays out.

[portice]

Please stop making relative posts to the alt currency section.  This section is used to promote CNC2(chuck norris coin obviously) and other highly attractive alternatives to BTC.

[adpinbr]

LTC has been gaining ground on BTC since its inception and has key technical advantages

I would say LTC is (1) entrenched and (2) gaining ground.  I don't think BTC advocates have much, yet, to worry about but they should keep on eye on LTC.

LTC is not silver to Bitcoin's Gold but, rather, is Android to Bitcoin's iOS.  We'll see how it plays out.

great analogy

[Qoheleth]

LTC has been gaining ground on BTC since its inception and has key technical advantages

What advantages are those?

I seriously want to know.

[pand70]

Oh btw notice something?

http://thepiratebay.sx/

Yea the big QR codes!Looks like btc/ltc works for tpb.

[com911]

Oh btw notice something?

http://thepiratebay.sx/

Yea the big QR codes!Looks like btc/ltc works for tpb.

Total Received   213.3924135 LTC    0.50658917 BTC  

[CoinHoarder]

Oh btw notice something?

http://thepiratebay.sx/

Yea the big QR codes!Looks like btc/ltc works for tpb.

Total Received   213.3924135 LTC    0.50658917 BTC  

It seems they change the addresses daily for privacy/legality reasons.

I only checked the Bitcoin address, but notice that all transactions into that address happened today.

[pand70]

Oh btw notice something?

http://thepiratebay.sx/

Yea the big QR codes!Looks like btc/ltc works for tpb.

Total Received   213.3924135 LTC    0.50658917 BTC  

It seems they change the addresses daily for privacy/legality reasons.

I only checked the Bitcoin address, but notice that all transactions into that address happened today.

Yea that amount (BTC) is for 13 txs that took place in the last 10 hours.
Not bad imho.