Why Litecoin Could Ultimately Benefit From Bitcoin’s Success
Litecoin as digital silver next to the thriving Bitcoin digital gold narrative has done about as well as silver has during gold’s rally to new highs. Oddly, the digital and physical counterparts have both lagged behind their more valuable brethren. However, that could soon change and Litecoin could ultimately benefit from the success of Bitcoin. […]
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If there were a set of rules such that the people who followed them were rewarded in a way that increased with the total number of followers, then each person involved has the incentive to bring more in, and furthermore can expect everyone else involved to do the same. Regardless of any other merits the rules have, the mere prospect of rewards will make success more likely for them. I suggest that Bitcoin works like this. Yes, Bitcoin is a great as a payment system and so on, but I think its value as an investment prospect should be taken more seriously. If Bitcoin succeeds, then obviously....
For those unaware, Litecoin is an alternative cryptocurrency based off of the Bitcoin protocol. The differences; however, are vast. For instance, Litecoin operates off of the scrypt protocol in its proof-of-work algorithm. The Litecoin network will also produce 84 million Litecoins, which will be four times as many Bitcoins. Litecoin is much faster as well; it processes a block every 2.5 minutes while Bitcoin takes 10 minutes. So why isn't it feeling the success of Bitcoin right now? CCN. Litecoin is, arguably, the second-most popular cryptocurrency in the world. With Bitcoin being the....
Litecoin is the second most popular cryptocurrency after Bitcoin. Litecoin's advantages over Bitcoin include its faster block confirmation times and scrypt hashing algorithm (to prevent ASIC mining). But will Litecoin ever see the massive success Bitcoin has seen and maybe even surpass it? Here's what Litecoin creator Charles Lee has to say on the matter.
Editor's note: Andrew Torba, a bitcoin fan and CoinDesk contributor, shares his insight into the relationship between litecoin and bitcoin. Article originally published on medium.com. It's been an exciting week for bitcoin and litecoin. At the time of writing, bitcoin was up 4.36% in one hour alone, topping off at $944.99 on Mt. Gox. In terms of growth over the past month, Litecoin is off the charts: surging from $4 at the beginning of November to a new high of $16.86. In trading, this is what's known as a 'sympathy play'. This term is used when a stock, or in this case a digital currency,....
After yesterday’s success Litecoin turned as red as a beet and slowly slide down. The Litecoin price correction is likely to continue during this weekend and on Monday. So, if the price range of $3.50—$3.70 has been a tough row to hoe for Litecoin, the question is if we are going to see it in the $3.20—$3.50 soon. Well, not sure. The upper border of the price corridor occurs at the level $3.50, but its lower edge is still unclear. The key factor dragging Litecoin down is China. Its cryptocurrency market depends heavily on the country’s stock market. As China’s stock exchanges revive,....