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Author Topic: Why Litecoin will always be a top 2 Crypto  (Read 8162 times)
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Saigonsmokes (OP)
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June 23, 2014, 02:14:44 AM
Last edit: June 23, 2014, 07:39:41 AM by Saigonsmokes
 #1

Litecoin's trade volume dwarfs most other coins.

Litecoin is supported by a huge number of exchanges. No other altcoin comes close.

Like the comparison or not, Litecoin is silver to Bitcoin's gold. Having a cryptocurrency trading pair is important for arbitrage reasons. Litecoin is playing that role today. It's hard for another coin to take over that role.

Litecoin is supported by payment processors like GoCoin and, if I can help it, Coinbase. Payment processors are critical in the path towards mass adoption.

Litecoin is accepted by a huge amount of merchants. Look at http://coinmap.org/

Litecoin has ATM support.

Litecoin is protected by its own network of hardware dedicated to Scrypt mine. And Litecoin's hashrate dwarfs that of other Scrypt coins. The amount of money spent protecting Litecoin will increase substantially with Scrypt ASICs.

Litecoin runs on well tested codebase. Because it is basically Bitcoin with a few changes.

We have a great dev team and an awesome Litecoin association





'FUD WARNING - There seems to be a certain group who go around constantly spreading lies about Litecoin. Most of these new coins coming out are created by the same group who's sole purpose is to pump and dump the coin on you and get as many btc and ltc as they can. DYODD'
Saigonsmokes (OP)
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June 23, 2014, 02:16:04 AM
 #2









'FUD WARNING - There seems to be a certain group who go around constantly spreading lies about Litecoin. Most of these new coins coming out are created by the same group who's sole purpose is to pump and dump the coin on you and get as many btc and ltc as they can. Users like 'DARKOTA' can not be trusted DYODD'
Saigonsmokes (OP)
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June 23, 2014, 02:18:03 AM
 #3

What has Litecoin been up to?

http://www.reddit.com/r/litecoin/comments/27654z/activities_in_the_litecoin_world_addendum_to/

Dear Litecoin Community,

You may have seen recently I made a post titled “Litecoin State of the Union”, which was made in order to clarify what was going on in the world of Litecoin, and calm peoples fear about asics, price, as well as let folks know what the LA and other community members are working on in the LTC eco-system. With that said, I felt the response for the most part was very positive and really got some of the community members engaged and more knowledgeable of the activities and initiatives that are going on. So I wanted to elaborate a bit on a number of activities that the community is trying to put together as well as areas where we need some help in.

Safe network alliance pledge We are very aware of coinotrons recent issue with the %51 network hash rate. Because of this, we have formed a pledge to pools to take in order to state the will be %28 or below the network hash rate. This is important to prevent time warp attacks on the network (which can happen with any coin, and cause the hacker to fake data and issue fake coins to themselves). Please spread the word to the pool you mine at, and request them to take the LA/LTC pledge for a safer network located here https://litecointalk.org/index.php?topic=20028.0.

Litecoin video After much back and forth, and starting a video, we decided to scrap the original and start again. One of our Litecoin Association members, Saigoned, stepped up as the project manager and will see this come to fruition. It was decided that we would assign bounties to this project in order to get this complete so we can show folks and merchants. Therefore, 65 LTC has been set aside to help pay for certain aspects of the video (50 of which was donated by the Litecoin Association). Please see https://litecointalk.org/index.php?topic=19799.0 for more details on the project and bounty. Also, special thanks to Losh11 that help start this initiative!

New wallet splash screen With the up and coming release of the new Litecoin QT wallet (which will be called “Litecoin Core”) ver 0.9, there is an initiative to have a new splash screen made by the community for the developers to use. Warren, lead Litecoin Dev, proposed to get the community more involved and wanted to use new splash screens for both the main loading screen and the testnet screen. Please see https://litecointalk.org/index.php?topic=19989.0 for more details on this project along with deadlines. NOTE: Current deadline is June 4th, which I have requested an extension so that the reddit community can submit their work.

Electrum Wallet Electrum wallet is still in beta testing to ensure everything is working properly. This is an important project for the Litecoin community as a whole. Pooler is the developer working on this, and is still asking for beta testers as well as public servers to help with electrum. If you would like to help, please see this thread here https://litecointalk.org/index.php?topic=18608.0.

LTC on Bloomberg Coblee has started an initiative to get Litecoin prices listed on Bloomberg feeds, much like how Bitcoin is already displayed. Roscoe, who is also another member of the Litecoin Association, has taken the lead on this project and is asking for help getting Litecoin displayed on Bloomberg. If you use or know someone who uses a Bloomberg Professional Terminal, please send a message to their online support desk asking for Litecoin price quotes and news to be added. Please show your support in helping him if you can, see https://litecointalk.org/index.php?topic=19258.0 for more details.

Translators needed If you speak more than one language, your skills are in need for the Bitcoin/Litecoin development teams. Please see https://litecointalk.org/index.php?topic=19050.0 for more details.

Help with LA pages The Litecoin Association (http://litecoinassociation.org/)
needs help in the form of ideas and volunteers to help “spruce up” the LA website. We need ideas for improvements, sections, content, and anything else you think is good to list. You don’t have to be a member of the LA in order to help out, anyone can help! Crazik is the administrator for the website as well as on the LA board of directors. Please contact him if you want to help out (and we need some help with this too, I promised him I would get a few folks hehe).

Merchant basket TheMage (Yes me), started a project in order to create merchant baskets for folks to print out and take with them in order to get more merchants on board to accept LTC and crypto’s in general. This will be the next large project to be completed after the Litecoin video project. See https://litecointalk.org/index.php?topic=20157.0 for more details. SEE LITECOIN.COM WEBSITE ACTIVITY BELOW!

Website and Client Documentation Dev We have a new intern working with Warren to help out with Litecoin.org as well as end user documentation, seikochan. Her goals for taking the position are * Improving the Litecoin website to be a more inclusive, collaborative project where the community helps by contributing improvements and expanding the content to be more informative. * Improving the documentation for both Bitcoin and Litecoin client software to make it easier for everyone to understand the best practices in protecting themselves against theft and accidental losses that usually are the result of user error. She can use your help with helping create this documentation for both the Litecoin and Bitcoin clients. In addition, she could also use your assistance in the form of translators. Please see https://litecointalk.org/index.php?topic=17395.0 for more details.

LA meetings and Community Projects Litecoin Association meetings are on IRC every other Sunday and are a completely open forum (anyone can attend). The LA board members and Ambassadors conduct the meeting and go over important information with the community and where we need help from the community. After the board speaks, the floor opens for any topics not discussed. We implore everyone to attend! Here is the sticky for information on which channel to join, time zones for clarification, and past meeting notes https://litecointalk.org/index.php?topic=19434.0. The Community Projects section is where we create new initiatives for folks as well as try to coordinate marketing campaigns to get companies on board to accept LTC (the merchant basket and Litecoin video as well as previous charities were started in this section). Here is the link to the main boar https://litecointalk.org/index.php?board=89.0.

Final Thoughts I hope to continue to keep the reddit community abreast of activities that the Community, Litecoin Association, and Developers are working on in order to bring more information to the masses. I understand in the past that this information may not have been flowed properly, but I am looking to change that. I want everyone here to know that Litecointalk.org and reddit are one big community, and we need to work together to continue to keep Litecoin as a top tier currency in the crypto world! But we need YOUR help with this, the communities help. So what ever little bit you can do, PLEASE help us make this better! Thank you Smiley

EDIT Litecoin.com Website
Coblee recently asked the community what to do with the domain name Litecoin.com. We are looking for open ideas from everyone. https://litecointalk.org/index.php?topic=20168.0
In addition, treasure_finder, has offered a 20 LTC bounty for Litecoin.com development. See here for details https://litecointalk.org/index.php?topic=20204.0

I don't have the technical know how to make this happen but I know it is important for the future of our coin. Therefore, I'm offering a 20 LTC bounty to the person or persons who are able to make this site a reality. Even if you're not sure what the final site should look like, start the design, make the work-in-progress and let us all provide feedback and work on it together to make it a reality. I don't care if LTC reaches $100 between now and then, I will send you 20 LTC when the site is launched. I invite any other members to add to this bounty, to get ourselves a top quality site that will reinforce LTC as the true silver crypto coin.

Coblee has now donated 100 LTC to this activity, which puts the bounty up to 120 LTC. I am rolling the merchant basket activity into this as well. Stay tuned for details on how this will be distributed.

'FUD WARNING - There seems to be a certain group who go around constantly spreading lies about Litecoin. Most of these new coins coming out are created by the same group who's sole purpose is to pump and dump the coin on you and get as many btc and ltc as they can. Users like 'DARKOTA' can not be trusted DYODD'
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June 23, 2014, 02:19:16 AM
Last edit: June 23, 2014, 02:29:46 AM by Saigonsmokes
 #4

1    Bitcoin   $ 7,784,496,172   $ 601.94   12,932,350 BTC   $ 9,915,031   +0.07 %   
2    Litecoin   $ 291,885,629   $ 9.88   29,536,204 LTC   $ 1,007,202   +0.47 %

EXCHANGES
BitEx - The first Hispanic LTC/BTC exchange based in Argentina
Bitfinex - Offering LTC & BTC margin trading
BITTREX - A US based exchange with numerous cryptos
BTC China - Bobby Lee's exchange now offers LTC trading
BTC E - Anonymous trading site for LTC, BTC, & others
BTER - Trades LTC & other crypto
Cex.io - BTC / LTC trading
CoinMKT - A Santa Monica, California LTC, BTC & alt coin exchange
Crypto-Trade - Numerous LTC pairs
Cryptsy - US based & trading over 90 different cryptos
Huobi - Chinese exchange to trade LTC on 3/19/14
KingCoiny - A new security oriented exchange with BTC, LTC, & others
Kraken - US based with LTC, BTC & other crypto
MintPal - 'The fast, efficient & secure cryptocurrency exchange'
OkCoin - A high volume Chinese exchange
Prelude.io - A LTC, BTC, & alt coin exchange by Moolah
UniLTC.com - USD, EUR, BTC to LTC trading
Vault of Satoshi - Canadian based with LTC, BTC & other crypto
Vircurex - LTC & 18 other cryptos traded
VirtEx - Canadian Loonie / Litecoin trading

http://uselitecoin.com/category/merchandise/
http://www.litecoinlearner.com/
Saigonsmokes (OP)
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June 23, 2014, 02:24:10 AM
 #5



'FUD WARNING - There seems to be a certain group who go around constantly spreading lies about Litecoin. Most of these new coins coming out are created by the same group who's sole purpose is to pump and dump the coin on you and get as many btc and ltc as they can. Users like 'DARKOTA' can not be trusted DYODD'
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June 23, 2014, 02:25:17 AM
 #6

I <3 Litecoin  Smiley



PS I also <3 Bitcoin and Dogecoin for their great community Smiley


EDIT: This is very important and people fail to understand or realize this. Due to bots, there is really no way to escape the arbitrage bots who tie Litecoin and Bitcoin so close together. It's a blessing and a curse.


Quote
Like the comparison or not, Litecoin is silver to Bitcoin's gold. Having a cryptocurrency trading pair is important for arbitrage reasons. Litecoin is playing that role today. It's hard for another coin to take over that role.

Follow me on twitter https://twitter.com/TheRealMage for Litecoin and Litecoin Association news!
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June 23, 2014, 02:49:09 AM
 #7

Yeah alot of FUD being spread from those alts that want 10 seconds of fame so the devs and their associated pump teams can dump.
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June 23, 2014, 03:00:45 AM
 #8

Yeah alot of FUD being spread from those alts that want 10 seconds of fame so the devs and their associated pump teams can dump.

Here is yet another fact that LTC doent do, pump and dump. (well we do pump lol).


As Saigonsmokes pointed out, we are working on quite a few initiatives that will help out LTC and for the greater good Crypto's in general.

Follow me on twitter https://twitter.com/TheRealMage for Litecoin and Litecoin Association news!
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June 23, 2014, 03:18:24 AM
 #9

Bump

Bitcoin and Litecoin hodler
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June 23, 2014, 06:34:44 AM
 #10

Litecoin has huge potential Just a couple of things need to happen and all the garbage will be dispelled

-  “Genius is fine for the ignition spark, but to get there someone has to see that the radiator doesn't leak and no tire is flat.”
Saigonsmokes (OP)
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June 23, 2014, 07:04:09 AM
 #11

I hope to see BTC/LTC and a third crypto succeed.

Litecoin has huge potential. Bitcoin is great and I own both but the transaction times with Litecoin makes a big difference.

Try buying something with Litecoin. Then do the same with Bitcoin.

This thread is great: https://litecointalk.org/index.php?topic=18792.0
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June 23, 2014, 07:11:00 AM
 #12

Really liked reading this thread.  I love how quickly litecoin gets confirmations compared to bitcoin.  My wallet updates so much faster.

Saigonsmokes (OP)
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June 23, 2014, 07:17:14 AM
 #13

Spend some of your Litecoins:

https://cryptothrift.com
CryptoThrift is an Australian based Bitcoin and Litecoin  marketplace and auction site. We operate globally and have over 5,000 registered users and over 1,500 unique buyer as of the 1st of May 2014 after 6 months of operation.



CryptoThrift provides a secure way to exchange goods and services for Bitcoin and/or Litecoin with our secured automated escrow service. We use semi-automated hot and cold storage to secure users funds and maintain security of our wallets. We also utilize great security and CDN services such as CloudFlare and MaxCDN.

We exchange partnership with other crypto services such as BitPos, an Australian based market leader in Bitcoin POS system, and yPool, an alt coin mining pool with thousands of users worldwide.

www.uselitecoin.com



What about some beautiful physical Litecoins?



www.gawminers.com - Litecoin Asic
Saigonsmokes (OP)
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June 23, 2014, 07:27:55 AM
 #14

HOW TO BUY LITECOIN

Many people view litecoin as silver and bitcoin as gold, as it is the second largest cryptocurrency after bitcoin.

How to buy litecoin
Litecoin was developed as an alternative to bitcoin, to address some of bitcoin’s perceived shortcomings. It was designed to be ‘lightweight’ and more abundant than bitcoin. In addition, it uses scrypt hashing for its proof-of-work algorithm, which was aimed to make it impervious to ASIC mining, although several companies say they are planning to launch scrypt ASIC miners in the near future.

A total of 84 million litecoins can be produced on the network, which was designed to process blocks faster than bitcoin. If you would like to know a bit more about litecoin, then read this more detailed introduction on how to get started.

Some points of note before you buy litecoin:

Litecoin became an increasing magnet for speculators after bitcoin’s price surge in November 2013 caused people to look to other alternative digital currencies for potential gains.
Some experienced bitcoin investors are using litecoin as a hedge, while late adopters who did not buy into bitcoin view litecoin as their second chance to make a quick buck.
Seasoned bitcoin investors should have no trouble adapting to litecoin, but novice investors may not find it as easy, as the infrastructure is less established than that of bitcoin.
An alternative way of gaining litecoins is by mining them using standard computing equipment.
Always do your own research and do not risk anything you cannot afford to lose.
If you are aware of the risks, if you’ve done a lot of research and you are still willing to enter the litecoin market, there are a number of potential pitfalls and issues that need to be addressed.

Cash for litecoins or bitcoins for litecoins?

Buying litecoins is not as straightforward as buying bitcoins, but this is hardly surprising given the underdeveloped litecoin infrastructure. One of the easiest ways of buying litecoins is to simply purchase them with bitcoins – this approach also happens to be the fastest, and for most users it will be the cheapest option.

Anyone with a stash of bitcoins can easily use them to purchase litecoins on a number of exchanges:

BTC-e
Kraken
Cryptsy
Crypto-Trade
Others are listed on the Litecoin Wiki.
At present, one of the biggest issues facing litecoin is the lack of exchanges willing to deal in it.

There are roughly two dozen litecoin exchanges, but most of them only allow BTC/LTC conversions, making the buying process cumbersome. BTC-E, Bitfinex, Crypto-Trade and Kraken are selling litecoins for euros, dollars and roubles, but availability depends on your location. For example, UK investors can buy litecoins directly from Bittylicious and BitBargain with a domestic banking transfer, but this is not the case in most countries.

You can buy litecoins for fiat on these exchanges:

BTC-e
Bitfinex
Crypto-Trade
Kraken
BitBargain UK
Bittlylicious UK

You may think the most straightforward way to purchase would be to buy litecoin via fiat wire transfer using an exchange, but this can be a tedious process for a number of reasons. Some major bitcoin exchanges like BTC China and Coinbase do not handle litecoin transactions at present.

Speed is the most obvious advantage of using bitcoin to buy litecoin. In theory, it should take just a few minutes, whereas international wire transfers can take days to clear and potentially incur additional costs. The limited number of litecoin exchanges means that the vast majority of potential investors have to rely on international transfers.

An alternative is to buy bitcoin locally, forgoing the hassle of wiring money abroad, and converting it into litecoin. The upside is that you will get your bitcoin sooner and possibly get a better price when you convert it, provided litecoin’s value keeps going up. The downside? You are likely to pay more for bitcoin if you are limited to the local market.

That said, the choice of litecoin wallets is rather limited compared to those available for bitcoin. Most users choose to use the official Litecoin-Qt desktop client, but it has its fair share of foibles, including reported syncing issues. There is also Litecoin Electrum in Beta.

It should be noted that quite a few online wallets charge users for transactions and even plain storage, so be sure to read the fine print.

For longer-term cold storage, you may want to setup a litecoin paper wallet.

It is also possible to get credit card-quality ‘paper wallet’ cards from Crypto Coin Wallet Cards, while a few smaller companies like CryptoVest are already selling physical litecoins or coin holograms.

Source: http://www.coindesk.com/information/buy-litecoins/

'FUD WARNING - There seems to be a certain group who go around constantly spreading lies about Litecoin. Most of these new coins coming out are created by the same group who's sole purpose is to pump and dump the coin on you and get as many btc and ltc as they can. Users like 'DARKOTA' can not be trusted DYODD'
Saigonsmokes (OP)
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June 23, 2014, 07:37:17 AM
 #15

20/06/2014: Litecoin is the most traded cryptocurrency in the world

http://cryptocoins.co/litecoin-is-the-most-traded-cryptocurrency-in-the-world/

This bubble chart shows all cryptocoins and their total trading volume summarized of all exchanges for the last 24 hours on it. The volume is denominated in BTC. Other second currencies like USD, EUR and LTC are getting calculated back to BTC to show the right data. Traded Volume of Litecoin (30734 BTC) is 50% larger than Bitcoin (20566 BTC), as of 20/06.



'FUD WARNING - There seems to be a certain group who go around constantly spreading lies about Litecoin. Most of these new coins coming out are created by the same group who's sole purpose is to pump and dump the coin on you and get as many btc and ltc as they can. Users like 'DARKOTA' can not be trusted DYODD'
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June 23, 2014, 07:37:56 AM
 #16

Chickun arise!
Saigonsmokes (OP)
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June 23, 2014, 08:33:30 AM
 #17

Chickun arise!

Today: 23rd June

https://www.cryptocoincharts.info/v2/coins/graphicalComparison







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June 23, 2014, 02:33:36 PM
 #18

This is awesome
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June 23, 2014, 11:16:47 PM
 #19

LTC is simply a difficulty magnet for merchants, it keeps their trades safe.

All the altcoins have so low difficulty compared to today's ASICs, that if you try trading with altcoin, you risk a double spending attack done by a single person from the basement.

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June 23, 2014, 11:39:49 PM
 #20

Litecoin 24 hour volume $ 1,306,188   
NXT  24 hour volume $ 60,987

which coin looks dead to you ?

Bitcoin and Litecoin hodler
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