I missed a chance to buy Bitcoins down around $400 [I didn't have the time/patience to open the right account] Anyway, I've just noticed Litecoin , and wondering if there is any future potential. Are there any major pros & cons I should be aware of? thanks marc
off the top of my head: Pros -good insurance for if there is a problem w/ bitcoin -second biggest market cap. second biggest coin. second mover advantage. -has been around for awhile -was not pre-mined -Charles Lee has said that he "will quit" Coinbase if it does not integrate LTC. Integrating LTC would instantly bring in thousands of retailers and hundreds of thousands of active Coinbase accounts. -LTC is BTC on steroids. It went from about $1.50 to $49 during the crypto bull market last fall. -Anecdotally it seems the Asian community likes the coin Cons -BTC catches a cold. LTC is on life support with pneumonia. -there are lots of altcoins out there. then again, there were lots of altcoins last fall also.
Pros The silver of bitcoin, second largest market cap among coins. litecoin has faster confirmations than BTC. So it's a bit quicker for transfer. There is a known creator who isn't the NSA lol.... "Charlie Lee" is a great guy who is all about liberty ect. Google some interviews by him if interested. Cons Lately, relative to BTC it hasn't been doing as hot (last few weeks). Less liquid than BTC, not as widely adopted by businesses ect.
I agree to all the above pro's and con's. Can add the following: Litecoin became immense popular when the ASIC-hardware invaded the Bitcoin-space >> this pushed out all the PC's with VGA cards (whole farms of them in regular houses) to script-mining: especially Litecoin. This ASIC invasion made the Bitcoin space more professional as huge capital flowed into ASIC farms and it pushed the Bitcoin-price up as well (the production-costs per Bitcoin grew and so did the ask-price). Today history repeats: now there are ASIC's coming to the script-space, this pushes out the VGA-miners to other encryption-method-coins (like X11, X13, etc). And professional investment money will flow to Script ASIC-farms >> probably pushing up Litecoin's Ask-price as well.