Silk Road forums

Discussion => Silk Road discussion => Topic started by: LebronJames on March 12, 2013, 05:45 pm

Title: Litecoins?
Post by: LebronJames on March 12, 2013, 05:45 pm
Would silk road ever consider using lite coins (bitcoins little brother) along side bitcoins?
Title: Re: Litecoins?
Post by: LionwareTradingCo on March 12, 2013, 05:56 pm
I would love to accept LTC.  ;D
Title: Re: Litecoins?
Post by: danconia on March 12, 2013, 06:23 pm
While we're at it, can someone give me a dumbed down explanation of the difference between BTC and Litecoins?  I suppose it's always good to have a plan b but doesn't it just work on the same technology as BTC?  So if BTC were hacked then Litecoins would also be compromised?
Title: Re: Litecoins?
Post by: Sukey on March 12, 2013, 06:48 pm
While we're at it, can someone give me a dumbed down explanation of the difference between BTC and Litecoins?  I suppose it's always good to have a plan b but doesn't it just work on the same technology as BTC?  So if BTC were hacked then Litecoins would also be compromised?

If BTC were "hacked" (I assume you mean the algorithm cracked in order to speed up the solving even more, and to make even ASIC's useless), then LTC would not suffer from this as it uses a different algorithm. For the other differences, I am not up to date with that, but Google can probably help you out.
Title: Re: Litecoins?
Post by: loniax on March 12, 2013, 08:02 pm
litecoin is fucking stupid, if youv been watching btc-e for the past day and lurking bitcoin talk youll see people are using it to gain a foot on bitcoin. You should be ashamed honestly, I have these californian dollars can I buy a stamp? The answer is no just no. Name one place that is decent and use's them you cant say second life cause none of us are furfags
Title: Re: Litecoins?
Post by: Joebelowme on March 12, 2013, 10:56 pm
litecoin is fucking stupid, if youv been watching btc-e for the past day and lurking bitcoin talk youll see people are using it to gain a foot on bitcoin. You should be ashamed honestly, I have these californian dollars can I buy a stamp? The answer is no just no. Name one place that is decent and use's them you cant say second life cause none of us are furfags

I think MasterBlaster is a Furry furfag.
Title: Re: Litecoins?
Post by: leavesbrown on April 06, 2013, 10:49 pm
If LTCs become popular currency they will slightly devalue BTCs but at the same time stabilize them because the 2 currencies are immediately interchangable
Title: Re: Litecoins?
Post by: smogmonster13 on April 06, 2013, 11:12 pm
Thanks for this post. I have two questions: 1) where is a good place to start with Litecoins?and 2) what' a furfag?
Title: Re: Litecoins?
Post by: FriedChicken on April 07, 2013, 12:41 am
Litecoins goes from 7 cents to almost $6 to $1.50 to $3 in a little over a month.

People are trying to pump up litecoins so they can cash out and profit hundreds of bitcoins to use on silkroad.
Title: Re: Litecoins?
Post by: radi8power on April 07, 2013, 01:56 am
While we're at it, can someone give me a dumbed down explanation of the difference between BTC and Litecoins?  I suppose it's always good to have a plan b but doesn't it just work on the same technology as BTC?  So if BTC were hacked then Litecoins would also be compromised?
If I understand it well enough, the biggest difference is that Litecoins can be efficiently mined using a typical personal computer, whereas mining for BTC really requires using a multi-grand mining rig at this point. The "difficulty" of mining LTC is much lower. So the idea is that the computational backbone of the two currencies will be different, with the LTC propped up by a large base of PC's and gaming machines, and the BTC supported by a much smaller number of miners running heavy duty processing capability rigs.
Title: Re: Litecoins?
Post by: harharhar on April 07, 2013, 02:46 am
The TLDR version of the litecoin vs bitcoin differences:

1) There will be 3-4x the amount of LTC as BTC (dont feel like looking up the actual number)
2) LTC uses an algorithm for the mining that makes thing like FGPA and ASIC mining not feasible--hence "everyone" will have access to LTC until it has all been mined.
3) LTC takes more confirmations, but is supposed to be faster getting those. 

People shy away of the Silver vs. Gold argument, but its pretty relevant.

Title: Re: Litecoins?
Post by: cowpie34 on April 08, 2013, 05:27 pm
Litecoins are predicted to double!  To learn about Litecoins and other cryptocurrencies watch the chat one Btc-e.com
Title: Re: Litecoins?
Post by: HEATFan on April 08, 2013, 06:20 pm
Yeah I'm pretty bullish on litecoins too, especially longterm.
Title: Re: Litecoins?
Post by: Barbijuana on April 08, 2013, 07:26 pm
Litecoins are predicted to double!  To learn about Litecoins and other cryptocurrencies watch the chat one Btc-e.com

There are reasons it is called The Troll Box
Title: Re: Litecoins?
Post by: cowpie34 on April 09, 2013, 03:43 am
If this link is real and I think it is MtGox will start trading Litecoin on Wednesday (Warning Cleanet Link)
https://sphotos-b.xx.fbcdn.net/hphotos-ash3/524630_161394767353371_866876570_n.jpg
Title: Re: Litecoins?
Post by: 2513415 on April 09, 2013, 05:04 am
Will e interesting to see if LTC is accepted on here anytime soon, I would say no but who knows?
Title: Re: Litecoins?
Post by: collapses on April 09, 2013, 07:21 am
Will e interesting to see if LTC is accepted on here anytime soon, I would say no but who knows?

I would say in the near-term SR has their hands full accommodating the huge amount of web traffic, keeping the site stable, and, most importantly, staying anonymous while cashing out the bejezus load of BTC they are earning (deservedly, of course)
Title: Re: Litecoins?
Post by: cowpie34 on April 09, 2013, 05:22 pm
The link I posted was a prank.  I did not know it.  Re there are reasons it's called the trollbox!  Careful on there btw!  I was in the chat when someone posted something from my browsing history - a site I had not been to that day but definitely pertained to me. 

What I want to know is why we would need a 3rd or 4th cryptocurrency?
Title: Re: Litecoins?
Post by: fcuk REALITY on April 09, 2013, 08:35 pm
Any tip that i know where we can buy them with RL currency?

Maybe even in europe?