Ok, I just read the wiki page again, no where does it claim Litecoin is a scam. It just has some criticisms. So this statement of yours is just wrong:
Here are the 4 criticisms and I will try to address them here:
Redundancy
Litecoin does not provide anything significant that Bitcoin does not already provide. Because of this, and Bitcoins much greater size, it is unlikely to gain any significant momentum.
There are a few key differences with Litecoin. Whether or not they are significant is very subjective. And since Litecoin is not trying to compete with Bitcoin, the fact that Bitcoin is greater in size does not mean Litecoin will necessarily fail. It's true that Litecoin is has not gained any significant momentum, but that's true for Bitcoin in it's first year.
Not Silver to Gold
Litecoin cannot be "silver to bitcoin's gold", because Bitcoin itself is both gold and silver: While in the long-run, the BTC unit may be too valuable for everyday trade ("gold"), there are other, much smaller units that can just as well serve the purpose of "silver" while being naturally/automatically "converted" to/from BTC.
The silver to gold comparison is also applied to how fast confirmations are with Litecoin. It takes a lot less time to send LTC than it does to send BTC. In that sense, it feels more like a currency you will use everyday.
Vulnerability to mining monopoly
Similarly to Bitcoin, Litecoin can be attacked by a rich entity (on the scale of big corporations and governments). Also similarly to Bitcoin, this attack becomes more difficult to orchestrate the higher the hash rate of the network. However, because Litecoin is designed to be inefficient on all common computer components (both CPUs and GPUs), a malicious entity needs only produce a single piece of specialized/custom hardware to overtake all the commodity mining systems combined.
Look at what the threat of ASICs is doing to Bitcoin. Supposedly this October, BFL will release an ASIC minirig that can do 1thash/s. 13 of them can 51% today's network. So Bitcoin is just as vulnerable to a single piece of specialized hardware overtaking the network.
Pyramid scheme
Since the aforementioned reasons mean Litecoin has no future potential, it effectively functions as a pyramid scheme, rewarding those who get in sooner at the expense of those who adopt it just before it finally fails (and are left with nothing). This is not the case for Bitcoin, since it has significant potential to become a long-term currency and continually be beneficial to adopters no matter when they begin using it.
This is just a stupid argument. Because Litecoin has no future, it's a pyramid scheme. Because Bitcoin has significant potential, it's not a pyramid scheme. How can I argue against this when you are going to start by assuming Litecoin has no future.
If anything, Bitcoin is more of a pyramid than Litecoin. Very few people (Satoshi and friends) were able to mine a ton of the early easy coins and probably have cashed out a lot of their coins. So if Bitcoin fails, the current owners are left holding the bag. On the other hand, Litecoin has the most fair start compared to any other alt coin. You should read up on that. Everyone started mining it at the same time. I (and many others) have also constantly mined and bought coins on the exchange. I can't say this for anyone else, but I have not cashed out and sold my coins on the exchange. I have more LTC today than I've ever had. I do believe in the future of the coin.
So now the ball is in your court. Prove to me that Litecoin is a scam. But first make sure you read up on the definition of a scam. Supporting a project that I believe in, but that which eventually fails, does not make it a scam. A scam means that I am knowingly deceiving people by asking people to put money and effort into a project that I know will fail, AND that I am making a financial gain from them.
