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Does litecoin have an advantage over bitcoin?

Discussion in 'Litecoin' started by Kyrie, Aug 13, 2017.

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  1. Kyrie

    Kyrie New Member

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    Bitcoin is the most popular currency over all the digital currencies in the world. It's very famous especially in the deep web. But there are a lot of alternatives and Litecoin is one of those alternatives.

    Currently, 1 US dollar is equivalent to .021 litecoin. It has very low value. That's probably why bitcoin is more popular.

    Now since litecoin currently has very small value, does it have an advantage over bitcoin? Is it easier to mine? Could it really be converted to cash? Do investors expect that litecoin will grow at a faster rate than bitcoin in the future?
     
    Last edited: Aug 13, 2017
  2. oportosanto

    oportosanto Moderator
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    Those are very good questions, and I believe that there are so many cryptocurrencies that no one can say they are true experts. At the same time, bitcoin is far more widely used, and that is why the value is higher, so I don't think that being cheaper gives litecoin any advantage over BTC. I also have no idea about litecoin mining. Have you done some research about it?
     
  3. abimbola

    abimbola New Member

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    I don't think lite coin has an advantage over bitcoin. Litecoin is still a new cryptocurrency, and its rate of growth is not as fast as that of bitcoin. IT is better to stick with bitcoins for now to trransact your business than using litecoin. Litecoin will surely grow in future but it will still take many years before it can reach bitcoin value
     
  4. Authord

    Authord Member

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    Mining Is Easier
    Yeah, i think the only advantage it has is the mining aspect of both coin. according to researches carried out. it has been observed that
    while Litecoin and Bitcoin share thesame concept when it comes to their mining operations, the algorithms that the two blockchain systems use are quite different.
    Litecoin's mining algorithms are significantly simpler than those of Bitcoin, meaning it can be mined on computers which are less powerful and that it will take less energy. Considering that mining operations around the world take up massive amounts of electricity and there is already a shortage of powerful graphics cards needed for mining rigs, this could prove to be a major advantage for Litecoin miners going forward.
    All of these key differences between Bitcoin and Litecoin point toward certain advantages that Litecoin might have over its bigger peer when it comes to investments.
     
  5. overcast

    overcast New Member

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    I think of LiteCoion as parking currency when the bitcoin is expensive. Most of the cryptocurrency apart from BTC are low valued. But that does not mean they are of no use. It's just that you'd find that you can't make use of the cryptocurrency for every occassion. For example stellar and ripple seems to be having their own demand. And this way the entire market of cryptocurrency is divided. Litecoin is just filling the voice when the bitcoins are dropping in value. Think of Litecoin and Ether as parallel currencies where you can park the money when the bitcoin gets expensive.