[2014-01-05] Litecoin 2014: Will Litecoin Overtake Bitcoin In The New Year?

[LiteCoinGuy]

Litecoin In 2014: Will The Cryptocurrency Overtake Bitcoin In The New Year?

http://www.ibtimes.com/litecoin-2014-will-cryptocurrency-overtake-bitcoin-new-year-1526316?ft=o79z1

[seldon]

No, it won't

[LiteCoinGuy]

maybe. but to be the silver of the cryptoworld is good too 

[zeroday]

At least it's better than dogecoin and quarkshit

[TraderTimm]

Invoking the rule of questions-in-an-article-title... No.

Also, that laggard hasn't proven it can scale worth a damn, thanks to its neurotic sped-up confirmation times. Orphaned blocks, re-orgs and other nastiness await...

[teukon]

The title doesn't represent the article.

Also,

The difference is that litecoin sits at where bitcoins were last year this time.

is misleading at best.  Litecoin has a bigger brother where Bitcoin does not.

Finally, the idea that Litecoin is just Bitcoin delayed by a year or so is at odds with the "Litecoin is silver to Bitcoin's gold" mantra.

[teukon]

Invoking the rule of questions-in-an-article-title... No.

Betteridge's Law

Also, that laggard hasn't proven it can scale worth a damn, thanks to its neurotic sped-up confirmation times. Orphaned blocks, re-orgs and other nastiness await...

The same can be said about Bitcoin.

[LiteCoinGuy]

At least it's better than dogecoin and quarkshit

of course   !

i also like the idea of namecoin but i dont hold any. iam not a hater of other coins but i hate pre-mined scam-coins like quak quak or feathercoin

[Buffer Overflow]

I can't ever see Litecoin stealing Bitcoin throne. Litecoin isn't different enough.

[teukon]

i also like the idea of namecoin but i dont hold any. iam not a hater of other coins but i hate pre-mined scam-coins like quak quak or feathercoin

I'm guessing you have some litecoins LiteCoinGuy.

I have some namecoins and am fond of PPCoin.  I've never been keen on Litecoin myself (I've never believed it to have any long-term technical advantages over Bitcoin) but will eventually bow to it's network effect if it continues to confound me with sustained popularity and growth.

[laris2]

Definately not overtake, but I suppose that this year the ratio BTC/LTC should double from 0,03 to 0,06 or so this year.

[notme]

Definately not overtake, but I suppose that this year the ratio BTC/LTC should double from 0,03 to 0,06 or so this year.

Do you really think that litecoin infrastructure and merchant growth can outpace bitcoin infrastructure and merchant growth?  Which LTC companies are getting VC funding again?  And which merchants are announcing adoption?

My CPU mined LTC and I would love to see your prediction come true, but I have a hard time seeing the path that will get us there.

[bryant.coleman]

Definitely not going to happen. Litecoin is a copycat of BTC. And it has no merits over BTC as well.

[TraderTimm]

Invoking the rule of questions-in-an-article-title... No.

Betteridge's Law

Also, that laggard hasn't proven it can scale worth a damn, thanks to its neurotic sped-up confirmation times. Orphaned blocks, re-orgs and other nastiness await...

The same can be said about Bitcoin.

Thanks for the pedantic correction on the first bit, and the other second nearly-as-pedantic answer for scalability. You honestly think the scale problem is the SAME in a blockchain where confirmation times have been drastically increased? So much for logic.

[Carlton Banks]

It's kind of funny, I looked at the Litecoin.org site the other day, and it listed the advantages against bitcoin.

- faster confirmations
- mining algorithm cannot be used by ASICs
- 4 times the coins in the monetary base


And, none of these things are actually advantageous and/or true. I wonder whether the Litecoin ASICs might eventually begin the demise of Litecoin, as reality starts to sink in that the claimed advantages aren't what they're billed as.

I'm not against competitors to bitcoin, but there's got to be a feature that bitcoin doesn't do better, or there's no real point. Every new coin so far has pretty much reflected the understanding deficit of most people who are attracted to the cryptocurrency concept. I'm happy to admit to having thought that Namecoin and Litecoin were a good idea at one point, but I've changed my mind. They're trying to solve a problem worth solving, but fail to do so convincingly. (bitcoin + distributed data storage is better than Namecoin, and Litecoin just flat out fails to do what it claims)

[Buffer Overflow]

It's kind of funny, I looked at the Litecoin.org site the other day, and it listed the advantages against bitcoin.

- faster confirmations
- mining algorithm cannot be used by ASICs
- 4 times the coins in the monetary base


And, none of these things are actually advantageous and/or true. I wonder whether the Litecoin ASICs might eventually begin the demise of Litecoin, as reality starts to sink in that the claimed advantages aren't what they're billed as.

I'm not against competitors to bitcoin, but there's got to be a feature that bitcoin doesn't do better, or there's no real point. Every new coin so far has pretty much reflected the understanding deficit of most people who are attracted to the cryptocurrency concept. I'm happy to admit to having thought that Namecoin and Litecoin were a good idea at one point, but I've changed my mind. They're trying to solve a problem worth solving, but fail to do so convincingly. (bitcoin + distributed data storage is better than Namecoin, and Litecoin just flat out fails to do what it claims)

Don't forget the original advantage of being GPU resistant, which got swept under the carpet.

[Carlton Banks]

It's kind of funny, I looked at the Litecoin.org site the other day, and it listed the advantages against bitcoin.

- faster confirmations
- mining algorithm cannot be used by ASICs
- 4 times the coins in the monetary base


And, none of these things are actually advantageous and/or true. I wonder whether the Litecoin ASICs might eventually begin the demise of Litecoin, as reality starts to sink in that the claimed advantages aren't what they're billed as.

I'm not against competitors to bitcoin, but there's got to be a feature that bitcoin doesn't do better, or there's no real point. Every new coin so far has pretty much reflected the understanding deficit of most people who are attracted to the cryptocurrency concept. I'm happy to admit to having thought that Namecoin and Litecoin were a good idea at one point, but I've changed my mind. They're trying to solve a problem worth solving, but fail to do so convincingly. (bitcoin + distributed data storage is better than Namecoin, and Litecoin just flat out fails to do what it claims)

Don't forget the original advantage of being GPU resistant, which got swept under the carpet.

Lol, wasn't aware of that.

The ASIC design is pretty hilarious: you need a certain amount of RAM, and a certain amount of general purpose CPU per ASIC chip. This pushes up the cost of the whole device, and increases the amount of energy required for a given amount of work. And all to mine blocks that are less certainly confirmed than a bitcoin block?

There may well be a "silver" cryptocurrency, and there may be a new "gold", but I think Litecoin is neither.

[Qoheleth]

I find it highly unlikely that - in the next year - litecoin acceptance will surpass that of bitcoin. That, combined with the increased supply, makes me pretty certain that an upset like that in the thread subject is not going to happen.

Also, that laggard hasn't proven it can scale worth a damn, thanks to its neurotic sped-up confirmation times. Orphaned blocks, re-orgs and other nastiness await...

From a technical perspective, there's already a good theoretical solution to this issue: switching to heaviest sub-tree instead of longest chain. Of course, it still needs to be implemented and deployed... we'll see if that actually happens.

[black_swan]

No it won't but with additional large exchanges adopting can certainly be useful to transfer BTC around and to edge of course.
I'd like to see LTC closer to LTC/BTC 0.1 by the end of the year and more services and shops

[bryant.coleman]

I'd like to see LTC closer to LTC/BTC 0.1 by the end of the year and more services and shops

There were a few online shops (such as Atlantis) and services (LTC-Global) which accepted LTC. But all of them has closed down.