Bitcoin, altcoin, litcoin, dogecoin

[turncoat_ewok]

There are a lot of differences between BTC and LTC.
                                   BITCOIN                                      LITECOIN
Coin limit                      21 Million                                      84 Million
Algorithm                      SHA-256                                   Scrypt
Mean block time     10 minutes                                 2.5 minutes
Difficulty retarget     2016 block                                 2016 blocks
Block reward details     Halved every 210,000 blocks.         Halved every 840,000 blocks
Initial reward             50 BTC                                         50 LTC
Current block reward  25 BTC                                         50 LTC

Why is it that lite has bigger limit compared to bitcoin?

It is their choice, how much they want to produce. Satoshi chose 21 million. I think it is enough. Circulating existing coins are much better than making new ones and if I am right, after 21 millions are used, the price will eventually rise.

  ~~MZ~~

So that means Litecoin producers chose to have 84 million as their limit? That means, they have bigger budget compared to btc?

Yes Litecoin producers chose to have 84 million as their limit. What do you want to mean by bigger budget?

[bitkilo]

Just because they chose 84 million with litecoin has nothing to do with budget, any alt coin dosen't have value or even exsist before it is mined. Once it has been mined that coin will be worth the same as any other litecoin according to market value at the time.
Now if 1 litecoin was worth the same as 1btc then litecoins marketcap would be bigger by the time all coins are mined or even long before.

[virtualx]

What's the difference between those coins? Does it have the same prices? Though I only hear about bitcoin a lot. What's altcoin, litcoin and dogecoin got to do?

They are different currencies. They have a different supply/demand and trade volume, that's why the price is different.
It's similar to why US dollar is worth more than Congo dollar  

If you are creating a currency, at some point you have to choose how many units you will produce.  
Will there be 1000 coins? 100.000 coins? Will you keep creating coins forever?
This is the coin limit. Bitcoin has a maximum of 21 million coins. Litecoin has a maximum of 84 million. Every coin has its coin limit.

[Muhammed Zakir]

What's the difference between those coins? Does it have the same prices? Though I only hear about bitcoin a lot. What's altcoin, litcoin and dogecoin got to do?

They are different currencies. They have a different supply/demand and trade volume, that's why the price is different.
It's similar to why US dollar is worth more than Congo dollar   

If you are creating a currency, at some point you have to choose how many units you will produce. 
Will there be 1000 coins? 100.000 coins? Will you keep creating coins forever?
This is the coin limit. Bitcoin has a maximum of 21 million coins. Litecoin has a maximum of 84 million. Every coin has its coin limit.

You are almost right. But every coin doesn't have coinlimit. Its the founders choice whether the coin should has coinlimit or not. But ofcourse, the reward for blocks gets diminished over time. Coins without coinlimit are PPCoin and its offspring NovaCoin. I don't know whether any new coin is introduced without coinlimit.

  ~~MZ~~

[jjc326]

For some more practical advice, don't worry about too many altcoins, unless you want to try something rather risky and invest in a new coin.  Just focus on Bitcoin, Litecoin, and one or two other coins you think are useful.

[ChuckBuck]

Just stick to Bitcoins if you're serious about Cryptocurrency, and are in it for the long haul.

If you want to have a little fun, play the market with a few bucks, try trading those alt coins on https://www.cryptsy.com/

[gamblethis]

For some more practical advice, don't worry about too many altcoins, unless you want to try something rather risky and invest in a new coin.  Just focus on Bitcoin, Litecoin, and one or two other coins you think are useful.

Bitcoin and Litecoin has proven its worth over the years. Dont worry about the others.

[GreatCoinBearer]

Bitcoin is the first every coin there is. All the others listed (and not listed) are just copycats of the first.

[Zawamiya]

Dogecoin and Darkcoin is undervalue. I believe they are 2x of what their value are now..

[homm88]

As bitcoin values have soared during the last few years, bitcoin mining has turned into a very lucrative business. Consequently, companies have designed chips solely for running the cryptographic algorithms bitcoin purposes of mining.

[forzendiablo]

LTC wil lraise, DOGE will fall now due to merge

[Loophole]

LTC wil lraise, DOGE will fall now due to merge

Interesting. I almost missed the news that dogecoin will soon switch to use Auxiliary POW and will become merged mine-able after block 371337.

So I expect scrypt miners will all switch to mine ltc+doge. Shouldn't both the price of ltc and doge go down?

[rockyrotcoin]

LTC = crap
DOGE = crap
ALTCOIN = crap

Invest in BTC. Thats it

[minerpumpkin]

LTC wil lraise, DOGE will fall now due to merge

Interesting. I almost missed the news that dogecoin will soon switch to use Auxiliary POW and will become merged mine-able after block 371337.

So I expect scrypt miners will all switch to mine ltc+doge. Shouldn't both the price of ltc and doge go down?

I guess they most likely will be even more tightly coupled than before. In general, their combined value will go up, because they both enjoy a bigger network now, but effectively they both become somewhat of a 'combined' currency due to the merged mining.

[grumpyoldtroll]

LTC = crap
DOGE = crap
ALTCOIN = crap

Invest in BTC. Thats it

How can you say that? With the current standing of bitcoin right now?

[Zebra]

LTC = crap
DOGE = crap
ALTCOIN = crap

Invest in BTC. Thats it

How can you say that? With the current standing of bitcoin right now?

The majority of altcoins are just clones of existing coins and I agree those are crap, but there are still a handful of innovative altcoin IMHO.

[BitcoinHeroes]

LTC = crap
DOGE = crap
ALTCOIN = crap

Invest in BTC. Thats it

How can you say that? With the current standing of bitcoin right now?

The majority of altcoins are just clones of existing coins and I agree those are crap, but there are still a handful of innovative altcoin IMHO.

Darkcoin is a good coin to invest. Just avoid new scam coin..

[Hendrick0909]

LTC = crap
DOGE = crap
ALTCOIN = crap

Invest in BTC. Thats it

How can you say that? With the current standing of bitcoin right now?

The majority of altcoins are just clones of existing coins and I agree those are crap, but there are still a handful of innovative altcoin IMHO.

Darkcoin is a good coin to invest. Just avoid new scam coin..

Did you heard about capital coin?

[Vslacha]

There is a huge price difference between these coins. You can get updated price by searching Google.

[krishatnet]

Price of coins is not same. Bitcoin is the best alternate crptocurrency. Litecoin is in 2nd place I think.