Unedited By Larry Chiang
1) The problem with the statement “Litecoin is just a testnet” is that an actual testnet doesn’t have any economic activity on it. Litecoin does, massively (reddit.com/r/litecoin/com…). In fact, Litecoin beats Bitcoin in many economic adoption metrics when they are both 6 years old.
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Hugo Nguyen [LTC] (@hugohanoi) |
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2) Saying SCRYPT offers no advantages over SHA256 misses the point. The point is that by choosing an incompatible hashing algo, Litecoin avoids fighting with Bitcoin for hash power, and make it a good hedge against Bitcoin, in case some political drama slows down / fucks up BTC.
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Hugo Nguyen [LTC] (@hugohanoi) |
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3) Saying faster block time offers no advantages over Bitcoin is again missing the point. The point is not about doing it better, the point is choosing a different security tradeoff.
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Hugo Nguyen [LTC] (@hugohanoi) |
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4) When you transact in Litecoin you have the option of waiting for just 2.5 mins and be reasonably assured that your tx is safe. In Bitcoin, you don’t even have the option! And god bless you when the network is clogged.
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