What is Litecoin

joseph.al (OP)

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What is Litecoin

January 13, 2014, 07:47:49 AM

Sorry for my noobness...

Can anyone explain what is Litecoin and how it works? It seems some lightweight client for Bitecoin Huh

Because I saw people saying they mine Litecoin. I installed Bitecoin on my PC but it is taking too many hours to work. Maybe this Litecoin is faster?

Thanks!

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Re: What is Litecoin

January 13, 2014, 07:55:17 AM

Litecoin is an altcoin with a few minor changes to Bitcoin.
You will need to wait for for the whole blockchain to download with both coins. This can take a few hours.
The difficulty to mine on both coins is now hard as the difficulty has risen.

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jonanon

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Re: What is Litecoin

January 13, 2014, 07:56:11 AM

Litecoin is a crypto currency that differs from Bitcoin, it is easy to mine as it is not ASIC friendly and you can mine it with a GPU although difficulty is increasing all the time.

Some people say that Litecoin is the silver to Bitcoin's gold.

Also note it is Bitcoin, no 'e' in there

odolvlobo

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Re: What is Litecoin

January 13, 2014, 07:57:22 AM

Litecoin is payment system derived from the Bitcoin system with some small differences. It is not nearly as well-known as Bitcoin and is about 1/20 of its size.

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joseph.al (OP)

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Re: What is Litecoin

January 13, 2014, 08:06:08 AM

Thank you, guys. Didn't know there was more than Bitcoin, too much for my head!

Then it seems this Litecoin isn't Lite at all Grin

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⇾ Re: What is Litecoin

January 13, 2014, 08:08:40 AM

What is Bitecoin???
Litecoin has nothing to do with bitcoin. Nothing.

Litecoin.org

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.

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Re: What is Litecoin

January 13, 2014, 08:12:41 AM

Quote from: joseph.al on January 13, 2014, 07:47:49 AM

Sorry for my noobness...

Can anyone explain what is Litecoin and how it works? It seems some lightweight client for Bitecoin Huh

Because I saw people saying they mine Litecoin. I installed Bitecoin on my PC but it is taking too many hours to work. Maybe this Litecoin is faster?

Thanks!

There are over 100 cryptocurrencies and rising

https://bitcointalk.org/index.php?board=67.0

all with different types of algorithms to solve transaction blocks and improved code as the developers say.

check them out

use an exchange to get a wallet and then there is no need to download the whole blockchain (e.g. cryptsy.com)

I am not affiliated with cryptsy

all currency comes in different forms e.g. dollar, cents, euro, pound, cheque, credit, crypto currency

Bitcoin was just the start

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