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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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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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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5) Keep in mind that even with LN in place, the cost of opening/closing channels will be non-trivial, especially as block subsidy approaches zero, and doing LN in Litecoin will always be cheaper.
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6) I think
@SatoshiLite’s hunch that LN won’t be to completely solve scaling alone is correct. Litecoin will have a role to play when it comes to the battle of scaling.Show this thread -
7) All this also hasn’t factored in new potential for Litecoin with atomic swaps & CT.
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8) With atomic swaps, you can seamlessly transact in LTC or BTC, depending on your needs. With CT (which is arguably harder to roll out on BTC since it further bloats the chain), you have fungibility which is perfect for payments.
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9) Bottom line is Litecoin might be a clone, but it’s a very good clone that has managed to establish a strong ecosystem, independently of Bitcoin.
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10) Litecoin chooses different security tradeoffs and different set of priorities (payments over SoV). And it has the option to further differentiate itself from Bitcoin in the future, *when the time comes*. All in all, this makes LTC massively undervalued.
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Tone fails to realize that bitcoin was the testnet....
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Vay's has admitted he's cheap and nothing can part him from his
#BTC. For this reason, his perspective is skewed. Plus, he an many other talking heads have missed out on some amzing runs, so they are feeling a little grumpy. -
He predicted last month that
#Litecoin would crash compared to BTC. It did the opposite... And even better so did I...
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Very true, similar story here on some other things. BTC is turning into a shitcoin becasue of people like Vays.
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@SatoshiLite Sometimes, I wonder why we need BTC if we have LTC -
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what is Eth?
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I think it is some kind of way to distribute cat food.
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What is CT?
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Confidential transactions
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Got it. Thanks
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