Would really appreciate any input by folks who have experience with both. I am considering Litecoins as they are more affordable to start out and lower loss if I stuff something up while buying/selling/transferring coins while working out how the system works. Any advice would be greatly appreciated!!!
Thanks! So I can buy 10 Litecoins for about $28.00USD and have a play around with wallet software, online wallets, offline wallets, etc and if I lose all them to a mistake somehow, no big deal. Am I correct in believing that Litecoins use the same technology as Bitcoins, so a good play to get some experience before spending $200USD or so each for Bitcoins to play with the big boys? I am not comparing Litecoins vs Bitcoins, but rather viewing them as complementary. Edit - Where can I buy some Litecoins?
I would suggest acquiring some bitcoin and use that to exchange for LTC at btc-e or cryptsy or similar.
If you're just looking to play around with coins and wallets, I can send you some Freicoin, have about ten thousand of those. They're not worth much I don't think at the moment and I don't know how well they go for online wallets/offline wallets etc.
Thanks for the offer which I may take you up on... but first... Here is where I am starting lose the plot... So I have downloaded Bitcoin-QT as a wallet for Bitcoin... then I downloaded Litecoin-QT? as a Litecoin wallet... so do I need a specialised wallet for each currency... so another wallet for Freicoins? Or is there a 'wallet' that is common to all of these cryptocurrencies that are based on the original Bitcoin technology? And yes... I am overheating google at the moment without much success... Just stumbled across a 'Sexcoin'?!?!
I am gathering that while there are many emerging cryptocurrencies, Bitcoin is the most mature with the broadest range of wallet/trading/storage apps and support. Hmmm...
Please remember that BTC is no more or less expensive than LTC. You can buy $10, $20, $30 worth of BTC if you like, $30 will get you like .12244 BTC. Or you can look at it this way - buy 122.44 mBTC for $0.245 each. I think if exchanges started using milli Bitcoins, people won't think its that expensive any more. I tend to think LTC is overvalued and BTC undervalued for their respective market reach and monetary base.
The Bitcoin chart is A LOT more promising than the current silver chart. Bought some bitcoins over the last few days.
Exactly price per coin is irrelevant when you can throw $50 at either of them and get $50 worth of digital currency. I have just started buying myself but I'm only going to go for BTC because I believe being the most mature it's where the crowd will first rush into when it really goes main stream. All crypto-currencies seem to work fine and all work very similar, I can see many thousands, maybe a million different versions but until one works substantially better than Bitcoin then Bitcoin is where it will be at.
