What about Litecoin
- Litecoin’s codebase is decentralized, but after Litecoin’s founder publicly sold all of his coins, the technical community also abandoned the project
- Litecoin uses a different mining algorithm than Bitcoin. Litecoin uses Scrypt which is more memory-intensive
- Larger blocks. This bogs down the blockchain and creates a larger barrier to entry to run a full node. Less nodes makes the network less secure
Priced in bitcoin
How does LTC compare to BTC over time?
Since inception Litecoin’s all-time-high, when priced in bitcoin, was Feburary 16, 2018. This means that unless you bought at some point before that time frame and sold at that exact moment, you would have had less bitcoin.
Cryptocurrency hits different when priced in bitcoin
Bitcoin vs cryptocurrency
- Bitcoin is the first cryptocurrency and the blueprint for a lot of follow-on cryptocurrencies
- Satoshi created the bitcoin protocol and allowed others to build on top of it
- The Bitcoin network is a protocol and not a program or platform
- This key difference is like the internet vs Google. The internet protocol cannot be censored while google can
What about others?
Often when people think of the “crypto” industry they have 3 categories: Bitcoin, Ethereum and the rest. This fallacy can lead us to overlook some of their shortcomings.
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