What's the difference between Bitcoin and other coins, like LTC?

[Denise520]

What's the difference between Bitcoin and other coins, like LTC?

[jc01480]

#value

[Denise520]

#value

Anything else?

[jjdub7]

Age of blockchain (which came in which order), parameters including block gen time and projected total monetary base, and cryptographic algorithm used to hash block headers.

And price people are willing to pay, in an economic sense.

Edit: some can do special stuff - NMC (also SHA256d) can register domain names

[_smudger_]

LTC is dead whereas BTC isn't 

[jc01480]

#value

Anything else?

Yes.  BTC works on a SHA256 hash.
        LTC works on a scrypt hash.

You can google a list of all the coins and the types of hash us to mine.  There are some alt coins that are up and coming.  Exciting times for crypto.

[digitalindustry]

real question or bag holder question ? anyhow i'll bite - :

- Litecoin is probably "better" distributed (slightly)  

- Litecoin used sCRYPT which was for a time "ASIC Resistant" although there is some controversy over the "memory hard function" look it up for more info.

- Litecoin is about to get a "healthy" ASIC market so are all its clones obviously

- Quark uses an algo that is not yet "monopolized" by ASIC, although this could change. (6 Hash functions + 3 Random functions)

- Quark was mined primarily in 6 months so that there could be no monopoly (as the price was very low)  (and it was mine by CPU's and a few GPU)

- Quark and its clones still have no ASIC (probably because of price) ( but that could change)

- X11 (i.e "Dark") (Quark > Dark) is the Quark algo + another added on and has NO random function ( FPGA here we come! ASIC baby !)

- X13 - same same

- x15 - still no random function as far as i know?

- there is a block time difference in all the currencies mentioned.

i hope this has been educational.

what will happen to LTC when ASICs hit - see this forum for much debate and controversy.

[Denise520]

LTC is dead whereas BTC isn't 

Really?

[fonzie]

LTC is dead whereas BTC isn't 

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