Easy. Because silver metal has unique properties that gold doesn't have, both are valued. Litecoin doesn't have unique properties compared to Bitcoin (no, tweaking a few parameters doesn't make it unique), it won't survive. "Litecoin is silver to Bitcoin's gold" was a short-term marketing ploy for the uneducated. Doge has a chance to gain some of Bitcoin's market share, because it has been unique in marketing, that is its non-technical unique property, but only if it persists in pushing itself to new markets.
Then there is a bunch of crypto 2.0 technologies with unique to Bitcoin properties, but they are beyond the scope of this thread.
Well if you are going to steal something, you should give credit to those you stole it from (Feathercoin people
).
BTW arent you a shibe? You do realize that a few LTC folks, including myself, worked hard to ensure that AUXPoW was transitioned without issues (logistics of contacting pools and exchanges to get them aware and on board with the fork).
Exactly, Litecoin is valuable to the scrypt miners at least and is the second most known crypto. I don't know why people think there can only be one crypto out there with value.
... and why they all gather in Bitcoin Forum > Other > Alternate cryptocurrencies is another unsolveable mystery!
Anyways, my 1st prediction of Scrypt ASICS introducing a similar development as seen from SHA256 ASICS has proven wrong. Conclusion: Mining is not the main influence factor for value
I believe an answer would be that the trolls gather in Bitcoin Forum > Other > Alternate cryptocurrencies, Litecoin has
www.Litecointalk.org as well as /r/Litecoin. Plus the fact that there are many folks that utilize LTC as a second investment and have BTC as their main.
The value is much more complex than a simple introduction of asics into the scrypt environment. A much larger factor is the inherent trading partner Litecoin provides to Bitcoin, much stronger than any other coin. No matter who states it (cough barry silbert), Litecoin can not escape the death grip of being tied to bitcoin. This is mainly why the price has slumped, because Bitcoin has slumped.
Litecoin was lucky to be at the right place at the right time.
Back when litecoin was create, there were not much competition. Now look at the altcoin market, there are tons of altcoins around.
Litecoin won't stand a chance now.
I dont argue that one bit! As a matter of fact, Bitcoin was lucky to be in the right place at the right time as well. Although Litecoin has over 3 years now of trust compared to the 2 month old alts. Say what you want about how that isnt important, but it seems every other day we are finding out about some shady dev or a pump group crippling a coin. Bring on the innovations, and right behind them you have a scammy pump master waiting to grease his dirty palms with more and more money (Bobsurplus anyone?).
In conclusion I leave everyone here with this, it was a response to someone over PMs about Litecoin.
You need to think of it this way, Litecoin is really in a league of its own. It's not the sexiest coin, and it doesnt blow the lid off of other alts, but Litecoin has something that only Bitcoin has, which is trust and age.
When I say league of it's own its like this, Litecoin is now 3 years old. Back 3 years ago (I think you were around, I was not), there wasn't all this innovation happening. Release it today, even with no pre-mine, no IPO/ICO, weeks ahead of time preparation for people to know it will be released, and it will A. go no where and B. most likely be called a scam anyways.
There is only really 1 other coin in the same boat as Litecoin with the above mentioned, Bitcoin. This is why Litecoin is not just another alt, its the Bitcoin of alts.
