Should Trisquel accept Litecoins?
I think that Trisquel should accept Litecoins, a derivative of Bitcoin. Litecoin value is signifigantly lower than Bitcoin, about $2 USD.
I've heard the bitcoin economy is pretty unstable and I've been wondering how well the alternatives have been designed. I'm pretty ignorant about economics unfortunately, but what are the advantages of litecoin over bitcoin?
There aren't many differences between litecoin and bitcoin. The main difference is that there is 4 times as many litecoins to be mined as bitcoins. This means they are more common for the most part. As for mining, litecoins are more memory-consuming, while bitcoins are more processing-power-consuming. This makes GPUs less profitable for litecoin.
Litecoins used to have much less use compared to bitcoin, but after the bitcoin price rocket, people wanted to mine litecoins in hope that there would be a similar price rocket. I calculated that at the time I measured, litecoin mining difficulty was raising almost 50% per day.
To answer the original post, I believe Trisquel should wait before accepting litecoins as a donation. They aren't as stable as bitcoin yet (they used to be worth $4+) and they have much way to go.
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On 2013-07-07 23:38, name at domain wrote:
> I've heard the bitcoin economy is pretty unstable and I've been
> wondering how well the alternatives have been designed. I'm
> pretty ignorant about economics unfortunately, but what are the
> advantages of litecoin over bitcoin?
https://en.wikipedia.org/wiki/Litecoin
https://en.bitcoin.it/wiki/Litecoin#Differences_from_Bitcoin
https://litecoin.org/
F.
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Fabián Rodríguez
http://fsf.magicfab.ca
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