Litecoin v. Bitcoin

[pooya87]

i don't get the increasing amount of hate towards litecoin, especially in this forum. every once in a while you see a new post or topic on "lite coin is dead" it is dying and so on. i am curious to know the reason of this much angry post on litecoin. don't get me wrong, i myself hate all the altoins and just trade them. never using or keeping any.

[gambit1]

I second this. Can anyone explain the hate?

[inBitweTrust]

I second this. Can anyone explain the hate?

I have no hate for litecoin, it just lacks relevance. I used to mine and support litecoin. There was only one defining characteristic which set it apart and now that is mostly irrelevant. Litecoin mining is more centralized due to Scrypt ASICs removing the central benefit of decentralized GPU mining which allowed for the average user to contribute and development is at a standstill with the lead developer not being interested in improving the code or adding more features.


* It confirms 4 times faster. Is of no consequence because in reality you need instant approvals for most purchases.

* It allows one to diversify one's cryptocurrency holdings without going into the lunatic fringe of the more obscure alt-coins. If I am going to invest in an alt or digital asset I would want to support a project that has unique features that cannot be found in bitcoin and won't be found within bitcoin in the near future.  

* As the price of litecoin has fallen some value has crept in. The community and infrastructure surrounding litecoin may not be great but its not nothing either. The same could be said concerning any other worthless alt.

* Litecoin transactions sound reasonable. 1 coin for 1 sandwhich, not 0.01 coins for a sandwhich. A 5 dollar sandwich = 20millibits.

* The litecoin community is less stratified into haves and have nots. It wasn't pre-mined in the same way as a lot of alts and doesn't seem to have as many as the same early adopter whales (many such people will frankly have been wiped out). Is this an assumption? Where can I see a breakdown of the distribution rates?

* Under-development can mean opportunity. Ask investors in China. There are opportunities in litecoin which have already been taken in bitcoin.The same could be said concerning any other worthless alt.


* Its not true that nobody is starting to accept litecoin: The point is that merchant acceptance of litecoin is pathetic compared to bitcoin and basically at a standstill with little prospect in sight.

[gambit1]

Fair enough thanks for your response.

[Daedelus]

How has this thread stayed in the main BTC section for so long?

The OP uses an altcoin name, in the title no less    therefore it should be banished from the sight of all BTC users to keep the forum pure.

I thought they were the rules? "No mention of altcoins around bitcoiners"   

[numanoid]

How has this thread stayed in the main BTC section for so long?

The OP uses an altcoin name, in the title no less    therefore it should be banished from the sight of all BTC users to keep the forum pure.

I thought they were the rules? "No mention of altcoins around bitcoiners"   

No such rules like that but yeah this can sure be moved to altcoin section

[Daedelus]

Could have fooled me 

[manselr]

I second this. Can anyone explain the hate?

Probably a lot of people lost money with Litecoin which is result you get a lot of hate towards it. Tons bought at 40 dollar a coin thinking we could go 400, then the crash happened. It's the same as gold guys that hate on silver.

[hungergamespro132]

I second this. Can anyone explain the hate?

Probably a lot of people lost money with Litecoin which is result you get a lot of hate towards it. Tons bought at 40 dollar a coin thinking we could go 400, then the crash happened. It's the same as gold guys that hate on silver.

litecoin to 400? even if bitcoin now goes to 400 it would be insane not talking about litecoin

[Possum577]

The one that is better is the one that people use the most - i.e., Bitcoin.

The alternative currencies are interesting but none of them (correct me if I'm wrong, people) provide some advantage over Bitcoin. I think most just offer an opportunity for people to try to get rich or be early adopters after having missed out on bitcoin's first growth spurt.

Litecoin is to Bitcoin what Silver is to Gold or what Pesos are to the Dollar...the latter in each example represents the stronger, more valuable, and more desired currency option.

[Btcvilla]

I prefer Dogecoin over Litecoin, but Bitcoin over Dogecoin.

[jbreher]

litecoin is simply the best crypto to use as your reserve, it has the consistent liquidity over all the other alts, and you can move it around so so much more easily then bitcoin.,

What exactly do you mean that one can 'move litecoin around more easily than bitcoin'?

adding to that from the start with bitcoin there's been many an unusable core client.

Are you claiming here that litecoin has a better core client than does bitcoin? Example, please?

---

My 'hate' for litecoin is nothing new. Years ago, I pointed out that the existence of even a single alt devalues a primary use case for driving bitcoin adoption - that of provable levels of currency inflation for crypto. The naysayers have a point that the existance of more than one cryptocurrency devalues the entire concept.

[kelsey]

My 'hate' for litecoin is nothing new. Years ago, I pointed out that the existence of even a single alt devalues a primary use case for driving bitcoin adoption - that of provable levels of currency inflation for crypto. The naysayers have a point that the existance of more than one cryptocurrency devalues the entire concept.

i've been saying for years the only thing good to come out of cryptocurrencies (including bitcoin) todate is the idea.

outside of trading I see little use for any cryptocurrencies. and tradings what currently gives bitcoin its value, so if it wasn't for the alts alot less people would trade bitcoin.

i do half agree (if talking use as a curreny) though with "even a single alt devalues a primary use case for driving bitcoin adoption" especially if that alt works better then bitcoin, but then who likes monopolies.

[kelsey]

What exactly do you mean that one can 'move litecoin around more easily than bitcoin'?

intra exchange trading. send litecoin, then send bitcoin, you'll see, opportunity costs.

Are you claiming here that litecoin has a better core client than does bitcoin? Example, please?

admittedly its my own anecdotal evidence (which is part of why I questioned do those who are pro bitcoin actually use bitcoin)., but yeah many versions of bitcoin have been very unstable on various pc's I own, and the last few clients I've used (not the latest as I gave up a few clients back) have failed to work on my macs.

never had any problems with any litecoin client i've tried.

i only use core clients.

[swansong]

go with litecoin.
litecoin has much more upside potential than bitcoin. in terms of "folding".
litecoin blockhalving is also coming. which will cause another speculation/buble.

[Kipsy89]

One isn't better than the other. Bitcoin is 'better' because it has a much wider traction. It has the first mover advantage. And this is what actually counts. The shorter block time doesn't actually matter at all!!!

[Kipsy89]

One isn't better than the other. Bitcoin is 'better' because it has a much wider traction. It has the first mover advantage. And this is what actually counts. The shorter block time doesn't actually matter at all!!!

I mean it would matter for things like craigslist where you want to make they won't double spend it or try and fudge you.

Why not wait a bit longer then? Litecoins confirmations are exactly that much 'unsafer' than Bitcoins, as they are shorter. They don't provide additional security!

[FreeJack2k]

I am 100% involved with Litecoin and hold no Bitcoin, for two simple reasons. One, Litecoin is just faster...no matter how many ways you want to spin it, Litecoin transactions enter blocks and get confirmations at least 4x faster than Bitcoin and often faster. There has also, to my knowledge, never been a confirmed double-spend (the same cannot be said of Bitcoin). I've had to wait upwards of an hour for Bitcoin to get the needed confirmations to clear a deposit into an exchange. Litecoin? Maybe 15 minutes, on average. Number two, and more importantly, is Satoshi Nakamoto and his ~1 million BTC hoard. I don't know who or where he is, I don't know what his intentions are for that coin, I don't know if one day he'll just decide to cash out and wipe out the order books on a bunch of exchanges...I don't know anything about his character or his intentions. But I do know that one person having 5% of the LIFETIME SUPPLY of Bitcoin is dangerous and I refuse to "explain it away" with assumptions and suppositions. "Oh, he probably doesn't have it anymore," or "No way does this benevolent genius destroy his own creation." How do you know? You don't. "He created it, he deserves to cash that in if he wants to!" Fair enough...but I don't have to be there when he does.

Litecoin, for all intents and purposes, IS Bitcoin...but it's faster, and doesn't have the baggage.

As for people saying it has no acceptance...it has about 100x the acceptance that Bitcoin had, this time last year. It just doesn't have the big, high-profile "Overstock.com" buying into it. But it's got a LOT of smaller merchants, via Snapcard and GoCoin. The "community" claims don't hold any water with me, because it's a global currency and people judge it based on its western message board traffic...and besides that, in twenty years NOBODY will be sitting around on message boards discussing the merits of this crypto or that. If it succeeds, people will just either be using it, or not. They won't be talking about it.

[gentlemand]

 The "community" claims don't hold any water with me, because it's a global currency and people judge it based on its western message board traffic...and besides that, in twenty years NOBODY will be sitting around on message boards discussing the merits of this crypto or that. If it succeeds, people will just either be using it, or not. They won't be talking about it.

Of course they will. It'll be a global currency that anyone can contribute code and new ideas to. Lord knows what stuff'll be invented in the years to come.

[RodeoX]

There is only bitcoin. 99% of alt coins are pointless and sometimes outright scams. Litecoin is one of the only alts with any merit. I did not predict it, but it has caught on to some extent.