1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Differences between BTC and LTC

Discussion in 'CryptoCurrency' started by myinternetempire, Sep 9, 2014.

  1. myinternetempire

    myinternetempire Jr. VIP Jr. VIP

    Joined:
    Oct 24, 2011
    Messages:
    776
    Likes Received:
    139
    Occupation:
    Internet Marketing | Software Development
    Location:
    Orlando, Florida
    Home Page:
    Here is a list of differences between BTC and LTC

    bitcoin litecoin
    Coin limit 21 Million 84 Million
    Algorithm SHA-256 Scrypt
    Mean block time 10 minutes 2.5 minutes
    Difficulty retarget 2016 block 2016 blocks
    Block reward details Halved every 210,000 blocks. Halved every 840,000 blocks
    Initial reward 50 BTC 50 LTC
    Current block reward 25 BTC 50 LTC
    Created by Satoshi Nakamoto Charles Lee
    Creation date January 3rd, 2009 October 7th, 2011
     
    • Thanks Thanks x 1
  2. 3tails

    3tails Newbie

    Joined:
    Jul 18, 2012
    Messages:
    49
    Likes Received:
    6
    Location:
    East Coast, USA
    Not a bad comparison. I'd also like to point out a less obvious difference: brand recognition.

    Bitcoin ended up in the news thanks to the Silk Road bust. Now it's the most well known cryptocurrency on the face of the planet! This is why the price went sky high so quickly and is now falling: the buzz is wearing off and the price is starting to stabilize again. Listen closely for anything that may make new stations talk about Bitcoin again as it will make the prices go back up. Bad press is still press, so it doesn't matter if the news is good or bad in general.
     
  3. myinternetempire

    myinternetempire Jr. VIP Jr. VIP

    Joined:
    Oct 24, 2011
    Messages:
    776
    Likes Received:
    139
    Occupation:
    Internet Marketing | Software Development
    Location:
    Orlando, Florida
    Home Page:
    For last few days price of BTC is continuously falling. I can't understand what is the reason of such downward.