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Author Topic: LiteCoins, Ripples Vs BitCoin  (Read 688 times)
donbu7
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November 05, 2013, 11:36:03 PM
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Like I said before I am new in this world of BTC, and I have discoverd that there are other web currency like lite coins and Ripples? can some one tell me more about them, what are the price of them, and where to buy them, and if these other currencies and some other that for sure may come out soon, will they jeopardize the value and effectivness of BTC. Smiley Grin
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monbux
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November 05, 2013, 11:43:49 PM
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There has been 2 sides on ripple:
1 TF's side, ripple is a scam
2 everyone else's side xD

I really don't know what to think of ripple, I prefer bitcoin better because it really is more open.
Ripple, like TF said, is centralized (or so he says Wink

Buy XPM (ripple)
LTC (Litecoins)

https://btc-e.com
https://www.cryptsy.com/

I prefer BTC-e
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November 05, 2013, 11:45:07 PM
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Like I said before I am new in this world of BTC, and I have discoverd that there are other web currency like lite coins and Ripples? can some one tell me more about them, what are the price of them, and where to buy them,


Check exchanges  Smiley



and if these other currencies and some other that for sure may come out soon, will they jeopardize the value and effectivness of BTC. Smiley Grin

No way alternative currencies can jeopardize the value and effectivness of BTC. You can create your own alternative currency if you put in some small effort
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November 05, 2013, 11:47:54 PM
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Welcome donbu!

Basically litecoin is another crypto currency like bitcoin.  It has a different method of encryption and therefore "mining" but otherwise very similar.  There will be four times as many litcoins as bitcoins.  It may make more sense to mine them at this point than bitcoins given the latter's difficulty.

The ripple payment system makes use of its own currency, ripples, or XRP, that are basically stamps for ripple payments.  Ripple is controlled by open coin and they have like 10 billion ripples.  The plan is to give most of them away to encourage adoption of the ripple payment system.  So it is harder to come by ripples than BTC, plus you need 50 (or 100 not sure) to open a ripple wallet, hence some talk about ripple "starter packs."

I'm sure someone more familiar with either or both of these could lay it out even better, but that's a decent thumbnail sketch.

Good Luck!
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November 06, 2013, 02:00:47 AM
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One video I did watch about ripple is that is not like bitcoin...

It a centralized currency instead... meaning it's not controlled by a peer to peer network,

but a limited number of seperate servers. I'm not sure what I did with the link.. Huh
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