I don't understand the economic side of LTC right now. How would switching to ltc be profitable at the moment with such a low price compared to one btc? Is it based on the speculation that one day LTC will also be worth about the same as BTC?
Not according to my calculations
My gpu farm at current btc prices will only generate about $5 revenue (roughly 3000mh/sec)
Same gpu farm will generate about $10 worth of litecoins.
At least at last night's prices.