Post
Topic
Board Altcoin Discussion
Re: Bitcoin vs Litecoin
by
thehedgemon
on 09/12/2013, 08:37:14 UTC
Litecoin offers MUCH faster transaction times.

No, it doesn't.  Faster block times do not equate to faster confirmations.  To decide if a transaction is "confirmed," you need to analyze the difficulty of a double spend attack at each block height.  Faster blocks are accomplished by having lower difficulty - so you need more blocks to get an equivalent chance of protection against double spend.


Haha sure I understand what you're saying, but if you were to send a litecoin to me right this instant, I would receive it faster than if you were to send me a bitcoin. I was more making a point to the OP

What?  I have no idea what you are talking about.  Transactions are near instantaneous in both Bitcoin and Litecoin.  Why would you receive a Litecoin transaction faster than Bitcoin?


Well the first obvious reason is 6 confirmations as opposed to 10. I would also encourage you to wipe your wallet.dat file (save it obviously) and then reopen both bitcoin and litecoin wallet. See which data comes through quicker.