This is the second Litecoin article I have seen today. Is there enough space for two cypto currencies? What problems does Litecoin solve apart from giving a second chance to those that missed out on the easy early mining of bitcoins?
I remember that the original goal was to encourage CPU mining and Litecoin failed at this.
But that doesn't say anything about Litecoin, it only says something about Litecoin's current state of being. Bitcoin could similarly be said to have a hashrate surmountable by a few wealthy companies working together. Things will improve over time, and certainly if Litecoin proves to be the better, it will have a bigger hash rate than Bitcoin.
It's like saying "Windows is better because more people use Windows". Yeah of course there is more support for the most used platform, but that doesn't say anything about the quality of a newly released OS X. It may well be better, and in ten years it might be biggest. Not saying it will be, but it might. Same goes for Bitcoin vs Litecoin hashrate.
Litecoin however is merely a fork of Bitcoin with changes to a few trivial properties, I can't imagine it ever gaining as much traction as Bitcoin itself.
Check out btc-e.com and vircurex.com
There are about 8 alternative currencies that I track daily at the moment.