Is litecoin a good altcoin?steemCreated with Sketch.

in #bitcoin8 years ago


Litecoin seems promising, and the steady market growth seen from the coin does not disagree. Just Like bitcoin, litecoin is also a decentralized currency not controlled by anyone nor is it managed by the monetary authority. And, of course, it isn’t backed by gold or any other asset in value, but it has the potential to achieve its value from the market factors of demand and supply.According to the experts, bitcoin is safe per block, but litecoin is even safer given the exact same amount of time to confirm transactions. Litecoin is same as bitcoin in code, but it has some functional differences. One of the best advantages of litecoin over bitcoin is the fast speed of block creation which makes transactions efficient and faster. And another benefit is litecoin’s transaction fee is smaller. The total possible Litecoins are 84.000.000 while the total possible bitcoins are 21.000.000 Bitcoin block reward is halved every 210.000 blocks, while litecoin's halving is much higher at 840.000 blocks. (Fun fact: even though this difference, BTC blocks average at about 1 block every 10 minutes, while LTC is at 2.5 minutes, meaning that if litecoin and Bitcoin were released at the same time, the block halving time for both coins would probably be the same or not much from each other because of the block halving requirements talked about above)
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i think its only early days for LTC, i have a few tucked away for the journey to the moon...

I sold my lite coin before the price jump recently and regret it. maybe it will go down a bit and I can get back in.

probably will if bitcoin ends up hardforking

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