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What are the advantages of litecoin over bitcoin

what are the advantages of litecoin over bitcoin

forks, few people remember that. It was an open-source fork launched during October of 2011, by Charlie Lee. There are three main ones that need to be pointed out. This has caused the Litecoin price to rally 15, while the Bitcoin price has corrected from the all-time high of 7,600 to 7,100. But once this Segwit2x fork has passed, I expect Bitcoin to sell off and altcoin prices to rise significantly. Certainly, part of the answer is that Bitcoin has better name recognition and was the first-mover in the cryptocurrency space. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Bitcoin is improving its network tech with Segwit and will likely implement the Lightning Network, atomic swaps and privacy features at some point in the months ahead. Scrypt, by contrast, was designed to be less susceptible to the kinds of custom hardware solutions employed in asic-based mining. Merchants cannot charge extra fees on anything without being noticed. As more businesses, medias, and trading centers begin to accept Bitcoin, its price will eventually settle down.

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Litecoin can produce a greater number of coins than Bitcoin and its transaction speed is faster, but these factors are largely psychological boons for the investor and don't impact the value or usability of the currency. In principle, this difference in confirmation time could make Litecoin more attractive for merchants. Yet, there are only four times more.

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It is a tremendous value for the money and most of our subscribers say that the subscription pays for itself many times over. This is so you can get an overall idea of what to expect with Bitcoin. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. To be able to make a good decision, you need to weigh the good and bad thoroughly before finalizing your choice. Key Differences Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those difference bitcoin litecoin ethereum transactions to be confirmed by other network participants.