... help Reddit App Reddit coins Reddit premium Reddit gifts. November 23, 2020. jamiemoses288. However, Ethereum comes with higher risks. BCH is the result of a group of original bitcoin supporters getting pissed off those changes still didnât happen. On the 30 minutes charts, BTC/USD bulls are closing in on the bearish wedge resistance level. Press J to jump to the feed. Source: Bit Info Charts. There are three different types of Litecoin miners to choose from: CPUs, GPUs and ASICs. Sure there was e-gold and the like, but BTC was the first to really take off. bitcoin vs. litecoin Bitcoin and Litecoin are both cryptocurrencies. Litecoin vs. Bitcoin vs. Ethereum: The Differences. What [Bitcoin is] is classic Coke. THIS IS NOT FINANCIAL ADVICE. the US issues USD, England issues pounds, etc). Litecoin can process a transaction that is way quicker than both Ethereum’s (before sharding) and Bitcoin combined. Today, money is created and managed by individual countries (e.g. 75% of retail … The part I don't know is how much of an advantage (today or in the future), could scrypt really give. Daily Cryptocurrency, Blockchain, Investing and Finance News and Discussions. All cryptocurrencies other than Bitcoin are called altcoins, and they are often created to overcome some of Bitcoin’s limitations. It is mostly about merchant networks, low fees, high transaction capacity, etc. You can see a pretty complete list at www.coinmarketcap.com. Beware that Ledger was targeted by a cyberattack that led to a data breach in July 2020. The leading community for cryptocurrency news, discussion, and analysis. They replaced the SHA256 hashing function in the mining algorithm with Scrypt, another cryptographic hash function. Minor changes on technology that has had far better approaches. Press question mark to learn the rest of the keyboard shortcuts, Platinum | QC: BTC 131, ETH 64, CC 28 | MiningSubs 45, Platinum | QC: CC 295 | EOS 23 | r/WallStreetBets 144. ... Only give it out as needed and never post it to a public forum like Reddit. Although Monero beats Bitcoin on things like privacy, fungibility, transaction fees, and mining algorithm, Bitcoin definitely beats Monero when it comes to the "network effect", or amount of people using Bitcoin vs. Monero. litecoin is like the second sperm, a loser. ...". Is there some kind of special wallet used for litecoin or can it be sent directly to a bitcoin wallet? ... and then again 2020-2021. We use cookies on our websites for a number of purposes, including analytics and performance, functionality and advertising. There are also tens of thousands of cryptocurrency ATMs around the world which sell Litecoin, with over 13 000 in South Korea alone. Bitcoin is prone to cycling like it has in the past and we expect the price of BTC to grow after the halving. Supporters of Litecoin like to market it as "Silver to Bitcoin's Gold," since there will be far more Litecoins produced and blocks are generated 4 times faster, making it better for day-to-day transactions. Of course, Bitcoin isn't going anywhere as the top cryptocurrency, but I would like to see more Litecoin integration into sites that already accept Bitcoin, if only for days when I don't want to wait 10-20 minutes for a confirm. On the other hand, Cardano is an ambitious blockchain project that was introduced on September 29, 2017. The 5 Best Things That Happened to Bitcoin (BTC) in 2020; 6 Crucial Bitcoin Predictions for 2021: How Many Have Come True So Far? A community dedicated to Bitcoin, the currency of the Internet. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As the other poster said, I dont particularly think BTC/BCH/LTC are ground breaking or innovative in many ways, so it isn't about tech. I'm brand new to bitcoin, and made a post yesterday asking about it and whether or not it was worth time, stuff like that. In the process, I had two users tip me (Thanks to both of you again!). Litecoin, is the second safest coin on the market and the second most reliable with transition costs currently equal to 1/500 of Bitcoin and ethereum and mining costs of less than 1/100 of Bitcoin. LTC set out to fix bitcoins current issues years ago by implementing the needed changes and starting a clean new block chain. 93 votes, 61 comments. Bcash is run by full of crooks. Since Litecoin is focused on serving as a medium for commerce, transaction volume seems like the best metric for evaluating its success over time. r/litecoin For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. I really like LTCs increased transaction speed. Bitcoin on the verge of a breakout as $8,000 lingers. New comments cannot be posted and votes cannot be cast. Bitcoin is a distributed, worldwide, decentralized digital money. They also donât like side chain solutions like Segwit so they forked both the code and the existing chain to try and take over bitcoin completely. Moons reward posters, commenters, and moderators for their contributions to the subreddit. It will give no help for arbitrage, since the friction is between fiat -> BTC, and that friction will affect BTC the same as a BTC-alt. Very informative! You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A comparison of daily transaction volume for Bitcoin, Litecoin, and Bitcoin Cash from August 2017 through July 2018. The Best Litecoin Mining Hardware. Both seem to share the same purpose yet there is so much divide on which one is superior. unlike most of the other alt coins, theres a strong and active dev team working on litecoin consistently. Bitcoin has more credible evidence behind it suggesting that it will grow in the future. 8 commits in the past four weeks, it doesn't seem like it's all that active. If/when litecoin gets to say $100, or $1000, what then? Many coins are simple parameter changes and exist as a pump and dump scam. The best thing for the market is for them to be pushed out as serious assists. For the Litecoin price prediction to become any more optimistic, “the silver to Bitcoin’s gold” needs to show that it has compelling use cases and increasing levels of adoption. Litecoin Vs Bitcoin: The Must Read Crypto Market Conclusion. Sorry for asking so many questions in one post, I'm just trying to wrap my head around all of this, and I appreciate any help. I guess my questions are, what exactly are the differences between bitcoin and litecoin, are there any advantages to one over the other, can you convert one to the other, and if so, is it worth converting my litecoin to bitcoin, or vice versa. Although the L3++ is now two years old it’s still a good option for anyone just getting into Litecoin mining. You should be aware that there are dozens of active cryptocurrencites. This illustrates why many people are against all of the alternate currencies: it is so easy to start a new chain that is just a clone of an old one, and most of the ~50 currencies listed on that page are crap. Bitcoin and Litecoin are revolutionary because the founders have created a global currency that can be used by anyone in the world, and isn’t tied to any country. As mentioned, Bitcoin is the original blockchain that began to operate in 2009. Basically BTC was the first truly widespread online cryptocurrency. Prices steadily rose – … Litecoin is accepted by tens of thousands of merchants and stores worldwide, most of which are in Europe and North America. Litecoin (LTC), a nine-year-old cryptocurrency whose price returns have chronically underperformed the bigger and better-known bitcoin in recent years, is hitching its wagon to a new star: privacy. Litecoin has lower transaction fees than Bitcoin and it’s up to four times faster to mine each block. Litecoin LTC is one of the behemoths of crypto. One often heard criticism is how Bitcoin is too expensive to use on most occasions. Opponents of Litecoin point out that the number of coins produced is irrelevant, since individual coins are so divisible; the benefit of the 2.5 minute block time is debatable. As ASICs are dominating all SHA256 coins beyond the ability of GPUs to really compete, Litecoin has stepped up and is supported by GPU miners. great post! Litecoin is better. The website lists Ripple as well, although it is less of a currency and more of a payment processor (it actually predates Bitcoin and is not secured by proof of work). The latter was also designed as a better Bitcoin alternative, but it comes with way more features than Litecoin. I think litecoin is important. Litecoin (LTC) was specifically designed to execute faster transactions and at a lower fee than it’s the pioneer cryptocurrency BTC. Overall, there is some truth to those criticisms, although Bitcoin’s transaction fees have come down between May 2020 and early July 2020. However, it is proving to be FPGA and ASIC resistant, so the coin was re-branded as being a GPU-only coin. Litecoin price news. But, the next-gen altcoins are emerging almost daily which has taken the sector’s competition to higher levels. Press J to jump to the feed. The Litecoin vs Bitcoin debate is a long-standing one, but the Litecoin did not receive a boost after its halving, and the same is speculated for Bitcoin ().Correcting Litecoin followers,@100trillion USD, a twitter analyst begs to differ from the commonly accepted notion. Litecoin was created in 2011 by a Former Google Engineer Charlie Lee, and it came into the market as an improvement to Bitcoin (BTC). Bitcoin, which originated in 2009, is the dominant brand; Litecoin, founded two years later, is … It's not hostile, it doesn't get pumped and dumped and it's as cheap to transact as BCH, the devs behind LTC actually know what they are doing, while the CEO-s from BCH are literally mafia. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining. As I'm still new to whole virtual currency idea, I had never heard of litecoin until yesterday. Bitcoin is the original, classic cryptocurrency. This means that it takes about 10 minutes for a new transaction to be processed and included in a new block of BCH transactions. This is why Iï¸ dont want anything to do with any of the Bitcoins. In this period, it was not uncommon to pay a fee of $1.1 or less. Your losses can exceed your initial deposit and Litecoin Vs Bitcoin Reddit you do not own or have any interest in the underlying asset.. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Same "issue" we have with bitcoin - a bogus issues since bitcoin has mBTC and uBTC. Trading binary options may not be suitable for everyone, so please ensure that you fully understand the risks involved. Thanks in advance! Although LTC transactions are confirmed four times faster than BTC’s, meaning that it’s a more practical choice for making everyday payments, this hasn’t … They adjusted somethings like block size and time to make it faster but not much else so far. We must as a community inform everyone Elon and not leave the Litecoin Foundation alone as has been the case for too long. This change was designed to make it hard/impossible to mine on a GPU; the coin failed outright in that regard. You can verify that block time by checking here.. The first confirmation is faster as is the speed at which exchanges release your funds to you. Following the rise of BTC, developers and business people began to create their own BTC-esque clones with the hopes of that currency taking off as well. In other words, whatever difference exists between the USD price of BTC at two exchanges will exist between the USD price of a BTC-alt like Litecoin, leaving no opportunity to use it to do arbitrage. If we could keep the discussion neutral and void of insults it would do a lot to further the discussion. It takes 10 minutes to mine a Bitcoin block, but only 2.5 minutes to mine a Litecoin block. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome. Also, I've figured out how to move my bitcoin around to different wallets and stuff, but how do I go about accessing my litecoin here? Here are the main differences and similarities between the three: Some of them explore interesting areas of this highly experimental field, though, and are worth keeping around, in my opinion. ASICs are the most efficient miners so we’ll start with one of the most popular Litecoin ASICs of all time: the Antminer L3++.. So while other alt-coins have some value (such as Litecoins' quicker transaction time and smaller computing load), they won't ever surpass the value provided by BTC simply because of its comparable usage. History of Bitcoin vs Litecoin. A consistent fixture as a top 10 cryptocurrency, Litecoin was created to improve upon the bitcoin protocol. The 84 millions to make it easier for transactions is totally bogus. New comments cannot be posted and votes cannot be cast, More posts from the CryptoCurrency community. Litecoin vs. Ethereum: Purpose. While Bitcoin can handle 7 transactions per second (tps) and Ethereum at 19 tps, Litecoin can process a whopping 56 tps. Bitcoin Median Transaction Fee (last 24hr) $3.46 USD Litecoin Median Transaction Fee (last 24hr) $0.02 USD Info obtained from: When it comes to Bitcoin vs Litecoin, it is difficult to call a clear winner, and even despite several similarities, the two assets still complement one another well. Bitcoin Vs Litecoin Search Stock, FX pair, Crypto, or Commodity... Bitcoin - ( BTC ) VS Litecoin - ( LTC ) Comparison - 1 day LTC could stand to come out on top (as far as transactional currencies go) purely because BCH and BTC communities try to destroy each other. PS: + LTC doesn't try to confuse and scam people into thinking they are the real Bitcoin, LTC is actually in sync with Bitcoin. — Willy Woo (@woonomic) January 10, 2020. Litecoin was launched a couple of years later, in 2011, and used the same but modified version of the Bitcoin network. Note how Bitcoin has a market cap in excess of 1 billion USD, compared to Litecoin's ~55 million USD. I'm very confident that LTC Market Cap will surpass BCH in the future. If more exchanges were to support it, traders would have an alternative to fiat when doing arbitrage. Litecoin vs. Bitcoin Cash: The Winner Is... Why is National Debt Bad? Bitcoin vs. Litecoin Difference. Both communities seem to just be shilling for themselves and I frequently see thoughtful communication shot down with shit posts. I feel that volatily will be reduced, or at least price differences across exchanges, if they support litecoin and bitcoin. Litecoin vs. Bitcoin vs. Ethereum Bitcoin is the first blockchain-based cryptocurrency, so it stands apart from all other projects that have subsequently appeared. Bitcoin was first traded back in 2009. I didn't know some of those things. To understand the core difference I assume you are aware of mining, at least to the level of knowing that it is a way to get coins for computational time. Litecoin was meant to become the crypto ‘silver’ since Bitcoin is the ‘gold’. Monero vs. Bitcoin: Network Effect. Currencies other than Bitcoin are going to be presented in a pretty negative light by a lot of subscribers to Bitcoin; be aware of that bias in this sub. Bitcoin has Become Cheaper At Times. Both Bitcoin and Litecoin are cryptocurrencies. On a practical level, I can attest to Litecoin's faster transactions as a noticeable advantage. Bitcoin Cash has the same block time as Bitcoin (about 10 minutes per block). The whole BTC/BCH thing is just too wrapped up in politics and FUD. Of course, scalability has always been the issue. As mentioned, there are way more Bitcoin transactions on a daily basis. Learn more about Redditâs use of cookies. Litecoin is a fork, or split, off the original cryptocurrency Bitcoin, which was envisioned as peer-to-peer digital cash. Bitcoin currently changes hands at $7,911 USD, a slight drop from intraday highs of $7,927 USD, signaling a possible spike past $8,000 in the coming hours. Charlie Lee’s goal in creating Litecoin was to make a faster, fairer, cheaper version of Bitcoin. One tipped me some bitcoin, but the other gave me some litecoins. They are distributed monthly and used to weight your vote on polls. Here is how Litecoin compares with the two largest cryptocurrencies by market cap – Bitcoin and Ethereum. The only thing creating a second Bitcoin network and promoting it does is inflate the supply of BTC-based cryptocurrency. I also assume you are aware of the hierarchy of mining hardware--CPU, GPU, FPGA, ASIC (processor, graphics card, field programmable gate array, and finally application specific integrated circuit). I spent a week or two playing around with some Litecoin gambling sites and exchanges, and got so used to the fast confirms that I found myself annoyed with waiting when I went back to Bitcoin. At first, both Bitcoin and Litecoin used simple CPUs and GPUs to process transactions. LTC is the way to go if you don't wanna be dumped on. LTC is much better then BCH. Press question mark to learn the rest of the keyboard shortcuts. Ever since Bitcoin took over the crypto market with its unique and creative structure, many other cryptocurrencies have emerged as attractive alternatives. The Cryptoviser on YouTube. It's been going on longer than any of the others, and has the lion's share of the market. Yes, I saw all the "HODL" posts, but I was only in it for attempted financial gain. The first thing you should know about Litecoin vs. Ethereum is that the two cryptocurrencies do very different things. These currencies attempt to act as competitors to Bitcoin, with Litecoin and Dogecoin as two of the leading currencies. What is the best way of trading in litecoins for bitcoins? It profits miners in the short run at the expense of those who invested in the coins in the first BTC network. For this very reason, it is why the two cryptocurrencies are referred to as digital silver and gold. All the litecoin users just want bitcoins for their litecoins. gets even better using 20second digitalcoins, This sums up how I mentally compare BTC to other alt-coins, "So it's grade school t-ball versus the New York Yankees. I would also love to know the differences in technology. Litecoin vs. Bitcoin Price As of March 9th, 2020, 1 LTC is $50.49, while 1 BTC is $8,007.03. It also has support for Lightning network which is the only improvement the core bitcoin team is working towards. As of September 2020, Litecoin is also available on the popular mobile banking app, … Back then, you could buy one of the new digital tokens for less than 1 cent. A larger subset of detailed information has been leaked, approximately 272,000 detailed information such as postal address, last name, first name, and telephone number of … Litecoin vs. Bitcoin Cash Speed. [Other altcoins are] just some tepid off-brand generic cola. I've only recently spent the time to look into bitcoin and become a believer. Bitcoin is the choice of many and remains the number one cryptocurrency.
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