Litecoin as an alternative to bitcoin
After my joke coin went viral, I realized that it would be a good way for a younger audience to play with crypto-currencies before investing in Bitcoin and Litecoin.
They are cute in the /r/dogecoin subreddit. They tip each other harmless half-pennies and draw pictures of Shiba Inus in Microsoft Paint, it's an excellent way to start for kids! :)
(2) Tipping culture. Dogecoin's community is built on top of a culture of tipping and exchange. Right now on bitinfocharts.com/ DOGE has the highest number of transactions per hour of any currency. It's a crypto currency that people actually spend.
(3) Marketing. Dogecoin is a community focused on tipping, giving, and supporting good causes. Plus who doesn't like adorable shibes?
(2) This tipping culture has been copied and already established by Bitcoin, Litecoin, Peercoin and many others. What you're promoting with Dogecoin is a 'circle-jerk' of people tipping each other pennies.
(3) Dogecoin rests on the shoulders of Meme marketing. And everyone knows the 'staying' power of memes, let alone copycat memes.
That said, I'm not entirely sold on the idea of cryptocurrency. Right now, it seems like a fancy pyramid scheme, and people are more concerned with waiting for a boom to cash out on than using it for anything meaningful.
(I have a single Bitcoin. But I'm not really inclined to spend it since the value fluctuates so much each day. Sure, I can buy a new snowboard on Overstock.com with it, but the possibility that my Bitcoin can be worth way more tomorrow, next week, or next month makes me not want to spend it.)
Dogecoin is a coin I designed as a joke and it turned out to be a great idea for me to attach the Doge meme to the coin. I'm glad the community is finding ways to use it and we are working hard to update our code all the time!
Thanks to Dogecoin, I can retire early and put the rest into Litecoin.
How I feel: imgur.com/FI80IvV (sorry /r/dogecoin)
Make sure to subscribe to www.reddit.com/r/litecoin and /r/bitcoin for the latest news covering the coins that actually matter and are not poorly developed clones.
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Thanks for releasing Dogecoin. I have investments in Bitcoin, Litecoin, Namecoin, PPC and Dogecoin. My smallest allocation at the moment is in Dogecoin. So far Doge is the investment I'm most proud of simply because I see a real community behind it doing positive things through the Dogecoin Foundation. Hopefully Doge will emerge as the tipping and micropayment platform Bitcoin and Litecoin always aspired to be.
litecoin has something that other altcoins don't have, and thats a talented and dedicated dev team that also happens to work closely with bitcoin developers, and even push changes to the main bitcoin source.
You can exchange both Litecoin and Dogecoin at cryptsy.com . Their site is slow sometimes but works well overall. However they don't exchange USD, so you'd need to use something like coinbase.com to get bitcoin first, send it to cryptsy and exchange for whatever you like.
Hope this helps!
Those mining Litecoin and Bitcoin are verifying all of the thousands of transactions that occur, they are the pillars of the entire network. Without miners, transactions would not work, period.
Bitcoin is like the Jacuzzi in the hot tub world...it might not be the best choice but it has brand recognition with the public. This will propel it forward in the future, even if it is slower and has other minor flaws. Bitcoin is gold, Litecoin is silver...at least in my opinion.
I think that is a good way to describe this. I don't doubt that cryptocurrencies will have an impact on how we buy and sell goods, but I don't think there will be a single clear winner.
I think the biggest market with the largest room for growth is with exchanges. I see people complaining (myself included) about the difficulties in buying currencies. Whomever can create the first exchange that is friendly and safe while supporting A LOT of currencies will be the real winner.
But, do crypto! Mine some alts at middle coin, or ones like XPM, protoshares, doge, and change them into lite or BTC for holding.
And, NEVER forget your password for wallets! Ever! Trust me.
Litecoin is also the father of the Scrypt algorithm, the original innovator. There have been a plethora of alternative coins which have copied Litecoin, but they will never see the same traction.
As for Dogecoin, this is another clone of Litecoin that rests entirely on the shoulders of a meme and an immature community that attempts to claim usefulness by being used as a tipping coin. This is not feasible as tipping digital coins has been implemented by all of the serious coins first, making this concept another copycat.
At over half a billion dollars in market cap, Litecoin will definitely be paving the road to real world usability, sooner than you'd think. Who knows, perhaps Bitcoin won't stay #1 forever. ;)
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