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Author Topic: Litecoin: Where to?  (Read 1802 times)
wobber
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October 29, 2011, 10:51:44 PM
 #1

I think a lot in the couple of days about litecoin. Can it be a success? Or it's just another scamcoin?

84 million coins should be enough for an internet currency. Currency, not comodity, as Bitcoin tends to be. People could use it on SilkRoad, Alpaca Socks and other websites.

One argument for it's success would be that once bitcoin takes off, many will look at it as an opportunity of buying lots of coins cheaply, and thus likely starting a rally. But if will have no economy, and will be purely speculative, it will soon die as the rest of alternate chains.

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BitcoinPorn
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October 29, 2011, 11:03:48 PM
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But if will have no economy, and will be purely speculative, it will soon die as the rest of alternate chains.

Where are the Bitcoin store owners that are checking out Litecoin right now?  Does anyone have any ideas for something they would like to sell, but maybe do not have the tech know how to set something like that up?  Are one of the Litecoin devs willing to help create some kind of Litecoin easy payment system for websites to encourage people to start stores?   Sorry for so many questions I don't think really have answers.

ElectricMucus
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October 30, 2011, 12:20:58 AM
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I will not be successful because, like all FUD, it has a limited amount of influence and is distributed as forum spam. The bitcoin community has already emphatically rejected this type off this kind of trolling.
fixed

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October 30, 2011, 12:23:43 AM
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Litecoin is not even a month old Smiley.. yet people expect the world.. funny..

Mining Both Bitcoin and Litecoin.
panerai
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October 30, 2011, 01:36:29 AM
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it has the best potential to succeed as an alternative currency to bitcoin
BeeCee1
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October 30, 2011, 02:03:48 AM
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I think a lot in the couple of days about litecoin. Can it be a success? Or it's just another scamcoin?

It won't surpass Bitcoin, it is too similar.  It might be able to co-exist though.  The only real advantage is that people without super graphics cards can get coins,  if there are enough people in that situation it should be ok.
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October 30, 2011, 02:07:59 AM
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Litecoin is not even a month old Smiley.. yet people expect the world.. funny..
Expectations are growing, but nowhere were near the peak. Wink

JohnDoe, you are completely right on almost all accounts and as any radical sect we do not want outsiders to enter our secret realm. bawhahaha  Grin

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October 31, 2011, 12:24:47 AM
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The reality is likely there is no need for a Bitcoin alternative.  

oh and there is!

Now more than ever and people like you are one of the reasons for it. But it ain't gonna be litecoin or anything else presented here and if it comes bitcoin will be crushed. There are alot of skilled people out there watching this development, and if they think bitcoin gonne become nasty they'd write something better.

Not a clone but software which shifts the paradigm from "I got in b4 you so I own your ass' to something were people would actually engage in creating the crypto-economy that the idea was initially aimed at. The currency aspect would only be a minuscule part of the project with implications beyond anything you have thought were possible.
Without your kind Bitcoin could even become that part, too bad...

If the answer is no there is no reason for buyers/sellers to use xCoin.  Things like cpu vs gpu is immaterial.  Things like "yeah I get to mine when difficulty is low" is equally immaterial.

If you only repeat that often enough it will become true.

Protip: Forks without premine and malicious intent like NMC and LTC actually support bitcoin, its appeal and to the end what people are willing to pay for it.

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BeeCee1
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October 31, 2011, 12:40:11 AM
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Things like cpu vs gpu is immaterial.

The average person doesn't know or care the details about cpu vs gpu, but that doesn't make it immaterial.  If someone hears about bitcoin and looks into it, they will quickly realize that mining is impossible, they have no choice but to go to the exchanges.  A cpu friendly coin will allow more people to be able to actually mine coins.  It is much better for someone who is just learning about a currency to be able to play with it for just a few cents in electricity.
Raoul Duke
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October 31, 2011, 04:09:42 AM
 #10

Yeah, also it lets merchants profit by embedding a Javascript miner on their sites instead of charging fees.

If the normal mining software is already flagged as malicious by most av's i suspect any site using a javascript miner will also be flagged as malicious.

MaxSan
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October 31, 2011, 02:03:35 PM
 #11

Personally I think litecoin has the most hope as a game currency. CPU only means freeing up GPU usage for performance.

Highly viable.
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