BTC vs LTC

Bitcoin and Litecoin are some of the biggest names in cryptocurrency. Both Bitcoin and Litecoin are some of the first cryptocurrencies, AKA legacy coins, and share more in common with each other than you may think. In this piece, we will take a look at the similarities and differences between Bitcoin and Litecoin.

A Brief History of Bitcoin

Bitcoin was first proposed in November of 2008 by mysterious coder Satoshi Nakamoto in a paper titled Bitcoin: A Peer-to-Peer Electronic Cash system, which eventually became the Bitcoin Whitepaper. Initially, very few people were able to see the value in such a system. Nevertheless, Bitcoin gained traction.

A Brief History of Litecoin

In 2011, Charles Lee felt that Bitcoin, while being the largest market cap cryptocurrency, could work better. Not everyone was happy with how Bitcoin worked. Lee wanted to make Bitcoin faster and much cheaper: A problem which has only recently been solved. Lee wanted to increase the clocking speed of Bitcoin in order to achieve this goal; however, there were a significant number of people within the crypto community who disagreed with this approach. Speeding up Bitcoin would mean fewer computers could participate in mining BTC, therefore making Bitcoin less decentralized. This led to a hard fork within the network, and Litecoin was born.

Similarities Between Both Cryptocurrencies

As Litecoin was born of the Bitcoin network, the two cryptocurrencies are nearly identical at the coding level. Both Bitcoin and Litecoin have shared a similar amount of growth since the inception of Litecoin and there was even a time when Litecoin was ranked as the number two cryptocurrency by market cap. Litecoin was also the second cryptocurrency to become available for purchase through cryptocurrency ATMs. In fact, some cryptocurrency ATMs are solely dedicated to Litecoin.

Differences Between Both Cryptocurrencies

Although Bitcoin and Litecoin share many of the same characteristics, there are some substantial differences. Charles Lee has often stated that Litecoin was designed to move alongside Bitcoin, in the same way that the price of silver correlates to the price of gold. Both of these projects are time-tested and valuable. As new cryptocurrencies are created, Bitcoin continues to remain at the top of the list by market cap, and many other cryptocurrencies have surpassed Litecoin in that amount of time.

Conclusion

Both Bitcoin and Litecoin are legacy coins, and each hold a substantial amount of value. We at Killer Whale believe it is far more advantageous to focus on the price action of coins such as those traded by Killer Whale Large Cap Sector Strategy . Be sure to check out the Killer Whale Products Page page to find the Killer Whale Signals and Strategies which are right for you!

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