Quote from: Muhammed Zakir on September 03, 2014, 12:43:54 PM

Quote from: jackjack on September 03, 2014, 12:27:37 PM

Quote from: Buziss on September 03, 2014, 08:57:46 AM

Quote from: barneystinkcoin on September 03, 2014, 08:27:48 AM

What's the difference between those coins? Does it have the same prices? Though I only hear about bitcoin a lot. What's altcoin, litcoin and dogecoin got to do?

Bitcoin = the coin created by satoshi in Jan 2009
Altcoin = alternate coin = all other coins

Litecoin = the first altcoin created in 2011
Dogecoin = another altcoin created in 2013

Litecoin is far from being the first altcoin

Sorry, but I couldn't get your point. Can you explain?

~~MZ~~

Its totally different

"Litecoin offers three key differences from Bitcoin, which its developers hope will make it better than Bitcoin.[6][7]

The Litecoin network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes, which its developers claim allows for faster transaction confirmation.[2][15] The drawbacks of faster block times are increased blockchain size, and an increase in the number of orphaned blocks. Advantages include greater resistance to a double spending attack over the same period as Bitcoin, if both networks had the same computing power.
Litecoin uses scrypt in its proof-of-work algorithm: a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.[16]
The Litecoin network will produce 84 million litecoins, or four times as many currency units as will be issued by the Bitcoin network.
The original intended purpose of using scrypt was to allow miners to mine both Bitcoin and Litecoin at the same time.[12] The choice to use scrypt was also partially to avoid giving advantage to video card (GPU), FPGA and ASIC miners over CPU miners. Mining litecoin with a CPU or video card is approximately 1000 times slower than mining bitcoin with the same CPU or video card.

Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.[17]"

From Wikipedia the most legitimate of sources...

deebob

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