Ask HN: is LTC consolation coin?

1 pointra00l2 comments

people who invested in GPU mining rigs for BTC found them un-profitable with the move to ASICs. However, when LTC was born, they had a new chance for profitability.

So I'm asking you: isn't LTC created just as a consolation coin for people who bought GPU mining rigs for BTC?

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I'd say no. The fact that it is GPU, not asic results in a more distributed, decentralized coin. It is probably more difficult to build a custom chip and do majority mining within one company/agency. Also the distribution of wealth is probably better in litecoin. This makes the coin more stable.

The coin may be more stable from that point of view but the issue here is that it's value is fluctuating because of it's relation to BTC. If LTC would get it's own value instead of being tied up to BTC's value then that would make it stable indeed.

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