assisting in a reduction of simultaneous block finds.
Having two different algorithms doesn't reduce simultaneous block finds, only making blocks further apart does.
Anyone like crunching numbers? What would the price of LTC need to be in order to make GPU mining worthwhile? I don't think we're there, but like I said, I haven't run the numbers at all.
Why does it matter? For may (most? almost all who aren't stealing power/computing?) people it's long been more efficient relative to power costs to mine bitcoin with gpus and sell for litecoin if you really want litecoin. I can't see how this would make it any _worse_ than that. Perhaps efficient GPU mining will take litecoin back from the thieves and make it profitable for honest people to mine again?
You can't really say much when he could just be spreading FUD.
So, how much have you placed against this at
http://betsofbitco.in/item?id=292 ? I'd think anyone sure enough to call someone a liar would be willing to put up way more than 1.50 BTC.