jeudi 5 septembre 2013

Smaller Crypto-Currency (and why you should care)

9 commentaires:
After the success Bitcoin currency has enjoyed since it was released in 2009, many smaller currencies appeared to rival the more powerful original and fill the gaps of a blossoming new economy. While Bitcoins might be everyone’s first choice, there are quite a few reasons why you should look out for smaller crypto currencies out there. First of all Bitcoins reach some high prices over time and you might want to invest in a currency that isn’t as inflated yet, so that you can make money as the currency grows. It is simply smart to invest in something that is certain to increase in value and almost perfectly safe from losing any value.

Namecoin is the first small crypto currency we’ll talk about. Namecoin is an amazing decentralized DNS based currency system. No single country or bank can control it and the limited number of Namecoins which can be produced will keep the currency from inflating. There can only be 21 million Namecoins and the rate they are creates drops every 4 years.

Terracoin is one of those very popular small crypto currencies out there at the time. It seriously launched during 2012, making it quite a young coin to use. Yet nonetheless over 150000 transactions have been made with 1.6 million Terracoins. One can give some of their computer capacity to the Terracoin system for the network transaction validation process, actively helping the coin rise in worth. Over 10 exchanges per minute are made, showing how promising a currency Terracoin is.

Ppcoin is the first crypto currency that uses a combined proof-of-stake/proof-of-work system, giving this coin its popularity. You might know this small crypto currency by its other name: Peercoin, yet whatever name you call it by the fact remains that is has been largely successful as of date in releasing economic exchanges from the shackles of bank and country economies.

What is new and exciting about Feathercoin, which boasts to be similar to Bitcoin and Litecoin, is that four times as many coins will be released, promising an increased longevity and showing confidence in the growing crypto currency market. Since crypto currency is doing so well so far, Feathercoin seems to be having the right idea increasing the amount of the coins available in comparison to other crypto currencies, yet still keeping a limit to prevent inflation.
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mardi 27 août 2013

The Future of Crypto-Currency and How to Be Rich Tomorrow

2 commentaires:
From the first moment Crypto Currencies came online it has been a battle against the old, rotting economy that has thrown us into the recession. It is no secret that the way things used to work actually didn’t work at all. The old economy has thrown us from recession to recession, leaving whole generations devastated and changing our dreams and future in non-positive ways. Depending on nations and rich establishments like banks, the old economy proved to be all too fallible and secretive altogether.

This is why the whole concept of a free, global economy that is unrestricted by outer factors like countries and banks didn’t come as a surprise to those who knew what the world really needed. Nonetheless the birth of Bitcoin was still something many watched with hesitation and dismissed as a fad or scam. Nothing could have been further from the truth and Bitcoin spoke with actions, or should I say transactions, rather than promises. The worth of the Bitcoin rose immensely in the last years from its all time low of 2$ per piece to its current of around 95$ per coin.

The Bitcoin works with special codes which change every time a transaction is made. Special crypto keys keep the coins from being stolen and the chain of transactions makes the coin easy to track and transaction simple to monitor. Since it is just too much hassle to hack or copy so many transactions and codes the system is not worth hacking at all, making it a pretty safe investment, as opposed to what internet luddites feared. When an exploit was discovered in 2010, instead of proving those dismissive minds right, Bitcoin immediately corrected the mistake, nobody lost their money or worth of it and Bitcoin has since never had an exploit episode again.

Following this amazing success of a brand new way to transact and pay, many of course created their own crypto currencies. Bitcoins are after all finite and could not fit the whole world economy once crypto currencies reach their expected future popularity. There was plenty of room for more crypto currencies to serve the world and plenty were born.

Plenty crypto currencies enjoy their share of success today with some names being Litecoin, the greatest rival of Bitcoin, Feathercoin, Novacoin and many, many more. Smaller crypto currencies have their own place in this new economy promising rising prices and bigger profits than already established coins.
Something that is pretty much unique in crypto currencies and which promises to keep them safe from inflation is the limited amount of coins that can actually be created. Most coins will stop at 21 million with only a few like Feathercoin crafting four times as much. Every four years new coins are released into the market, yet the amount of those coins will grow smaller, until it reaches zero and then the maximum amount of coins will have been reached. This way you know that your coins will not lose their worth because too many have been printed; because that is simply impossible with crypto currency and the way they work.
As reality proves, crypto currencies become bigger and bigger, multiplying and sharing a new unrestricted economy to all those who dare to win. The future of the world economy is here in the form of these crypto currencies and we can expect them to become more and more popular. Not only that, the whole software and crypto currency system will too improve in time, creating more powerful coins and larger markets for them. Already some countries allow tax payment in Bitcoins and even wages have been partly paid in Bitcoins, showing the increased trust in crypto currency that some never expected to become reality. Crypto currencies have won the world over with actions not promises, and that is where they are superior to the older currencies world over.

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samedi 24 août 2013

The History of Bitcoin

2 commentaires:
When one speaks of Bitcoin, one speaks of futuristic economy available here and now, for
those daring and wise enough to invest in something new. People are of course skeptic
when it comes to something like a currency that isn’t backed by a bank or country. But think
of where that type of thinking has got us until now. Bitcoins are after all something excitingly
new in a stale rotting economy. Nobody has been left untouched by the recession, which is
living proof that our modern way of exchanging currency isn’t that “modern” in the sense
of being lucrative and progressive. This is why Bitcoins deserve more than a chance; they
deserve endorsement and lots of attention, so that we can break free of an old economy
and start a new one which will make us all richer.

This is why a man, or a team of people, who went under the alias Satoshi Nakamoto
announced in the year 2008 the amazingly new Bitcoin software. Until now nobody knows
who Satoshi Nakamori is and that will probably remain a closely guarded secret forever.
When I say new when referring to Bitcoins I mean original and ahead of their time. This
announcement promised an unrestricted economic currency that would soon flood the
open worldwide market through the internet. Bitcoins were to be a safe, fast and precious
currency for the future and in 2009 this dream-like proposition became reality.

Of course like every daring new idea there were some bumps on the road to perfection. In
2010 the first Bitcoin transactions began for real. A vulnerability in the system was detected
and exploited, but the Bitcoin programmers caught on to the fraud and nullified the false
transactions quickly, returning the Bitcoin back to a normal rate of production. Many
feared that more exploits would soon ruin the whole Bitcoin concept, but thankfully the
programmers have kept the system in top shape ever since.

Sadly during the year 2011 the Bitcoin market crashed from 30$ per piece to 2$, but even
this hurdle wasn’t too much for this promising new currency to overcome. On the upside it
was the year 2011 when Wikileaks began to accept Bitcoins for donation and many markets
opened up to this new way of payment when they used to be skeptic about it. Bitcoins even
had their share of fame, featuring in the television drama “The Good Wife”.

BitPay announced in the year 2012 that Bitcoin now had around a thousand markets it was
used and accepted in. It seemed like Bitcoin finally managed to become a widely used type
of currency. In 2013 all those hopes where finally answered with success as the Bitcoin reached its all
time high price at 266$ and settling at 160$ soon after. If we remember that 2$ price in 2011
the Bitcoin surely has come a long way. Over 1 million Bitcoins were sold for 22$ in a single
month during January, and that was only 3 months before the all time high price in April.

Perhaps the most fascinating part is that Bitcoins are now ruled legal ways of payment in
many countries, while court cases seem to open and be won all over the world. Germany
even accepts Bitcoins for taxes now, while Thailand pays some of its wages to in Bitcoins to some.

Seeing the immense progress and positive outcome of all that is Bitcoin currency and
transaction we can only be pleased that human ingenuity finds a way to defeat adversity
even in such harsh economic times such as these. Those who invested are now pleased and
have secure transaction with the whole world, become a globalized economy was only the
next logical step down the road and some have already taken it with Bitcoin.
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mercredi 17 juillet 2013

Crypto-change.com advantages, methods, API and more

3 commentaires:
Dear friends and online traders,

We proudly welcome you to Crypto Change, your one stop shop and leading platform for the BEST Bitcoin, Litecoin, Namecoin, Terracoin, Ppcoin, Feathercoin, Novacoin, Devcoin trading and transactions between USD and RUR.

You can find us at https://www.crypto-change.com/ to experience the sheer power of our trading platform and our unsurpassed user friendliness.

Key Features and Advantages
Fully automated trading with sophisticated software ensures TOP rates!
·         Automated trading at BitCoin.org - get Bitcoin <-> USD with fee of ONLY 0.2%
·         Automated trading at Litecoin.org - get Litecoin <-> USD with fee of ONLY 0.2%
·         Automated trading at Namecoin.org  - get Namecoin <-> BTC with fee of ONLY 0.2%
·         Automated trading between RUR <-> BTC with fee of ONLY 0.2%
Instant transactions: Deposit or withdraw your crypto currency Bitcoin, Litecoin, Namecoin instantly and securely at the BEST exchange rates.
ATM card withdrawal functionality for immediate banking!
Numerous deposit options for ALL currencies and cypto currencies

Crypto Change USD Deposit Options
·         InterKassa.com (commission - 1%- 3%), minimum amount - 10$
o   Digital money - Yandex.ru, NSMEP, Unified Purse, TeleMoney, moneymail, rbkmoney, Unikarta, liqpay.com, prefectmoney.com, webcreds.com, z-payment, qiwi, MTS, Alfa-Click, Megafon, Monexy, Pin-Code and MORE!
o   Cash - Privatbank, RU/UA Terminals, Post of Russia, Savings Bank of Russia Russian banks, Euroset, Lider, Contact, Anelik, UNIStream.
·         Webmoney WMZ (commission - 1%), minimum amount - $50 (Additional commission of $1 applies for smaller amounts. Details at our homepage).
·         LiqPay.com (commission - 1%), minimum amount - $50 (Additional commission of $1 applies for smaller amounts. Details at our homepage).
·         PerfectMoney.com (commission - 1%), minimum amount - $50 (Additional commission of $1 applies for smaller amounts. Details at our homepage).
·         Okpay.com (commission - 1%), minimum amount - $50, (Additional commission of $1 applies for smaller amounts. Details at our homepage).
·         BitInstant.com (commission - 1.49% OR 3.99%), minimum amount - 10$. Systems for depositing – Major Bank Branch, MoneyGram, CVS, 7-11, Walmart, CryptoXCahange Coupon, Bitstamp Coupon, Dwolla, MtGox Coupon.
·         International Wire Transfer - (commission - 1%), minimum amount USD 10,000.

Crypto Change RUR Deposit Options
·         QIWI (commission - 0%), minimum amount – RUR 1.
·         LiqPay.com (commission - 1%), minimum amount - RUR 1,500, additional commission of RUR 30 is deducted for smaller amounts.
·         Webmoney WMR (commission - 1%), minimum amount - RUR 1,500, additional commission of RUR 30 is deducted for smaller amounts.
·         Bank transfer (commission - 1%), minimum amount - RUR 20,000.

Crypto Change USD Withdrawal Options
·         VISA USD (commission - 4%), min. amount - 100$ – BRAND NEW system for USD withdrawals!
·         Webmoney WMZ (commission - 4% + 0.8% Webmoney commission), minimum amount - 10$ (the commission has been decreased by 1% for Crypto Change users)
·         PerfectMoney.com (commission - 3.5%), minimum amount - $100 (the commission has been decreased by 1.5% for Crypto Change users)
·         Epese.com (commission - 4%), min. amount - $100 – BRAND NEW system for USD withdrawals!
·         Payza.com (commission - 4%), minimum amount - $100 – BRAND NEW system for USD withdrawals!
·         SolidTrustPay.com (commission - 6%), minimum amount - $100 – BRAND NEW system for USD withdrawals!
·         Epayservices.com (commission - 5%), minimum amount - $200 – BRAND NEW system for USD withdrawals!
·         Paypal.com (commission - 4.5%), minimum amount - $200, the commission has been decreased by 1.5%
·         Ecoin.cc (commission - 5%), minimum amount - $100 – BRAND NEW system for USD withdrawals!
·         Okpay.com (commission - 3%), minimum amount - $250 – BRAND NEW system for USD withdrawals!
·         RedPass.com (commission - 5%), minimum amount - $250 – BRAND NEW system for USD withdrawals!
·         Privatbank USD (commission - 5%), minimum amount - $100
·         Privatbank UAH (commission - 5%), minimum amount - $100
·         QIWI (commission - 6%), minimum amount - 50$
·         LiqPay.com (commission - 3%-5%), minimum amount - $10
·         AlertPay (commission - 6%), minimum amount - $200
·         Sberbank (commission - 6%), minimum amount - $350
·         Telebank (commission - 6%), minimum amount - $350
·         Alfa Bank (commission - 6%), minimum amount - $350
·         Wire Transfer & SEPA (commission - 0.1%, min. commission - $15)
·         *HOT* Crypto-Change ATM Card Withdrawal - NO COMMISSION! - min. amount – USD 0.01

Crypto Change RUR Withdrawal Options
·         QIWI (commission - 1%), minimum amount – RUR 500
·         Webmoney WMR (commission - 3% + 0.8% webmoney commission), minimum amount – RUR 500 (the commission has been decreased by 1% for Crypto Change users)
·         Yandex (commission - 6%), minimum amount – RUR 3,000
·         RBK Money (commission - 6%), minimum amount – RUR 500
·         LiqPay (commission - 4%), minimum amount – RUR 100
·         Sberbank (commission - 5%), minimum amount – RUR 10,000
·         Telebank (commission - 5%), minimum amount - RUR 10,000
·         Alfa Bank (commission - 5%), minimum amount - RUR 10,000
·         VISA (commission - 5%), minimum amount - RUR 5,000
·         MasterCard (commission - 5%), minimum amount - RUR 5,000
·         Direct Cash in Moscow, Russia (commission - 6%, delivery to your address is possible), minimum amount - RUR 15,000
·         *HOT* Crypto-Change ATM Card Withdrawal - NO COMMISSION! - minimum amount – RUR 0.01

Remember that ALL fees for BitCoin \ SolidCoin transactions remain a fixed amount of JUST 0.01 - BTC \ SC for each individual transaction!

Crypto Change Trade API
We offer world class trade API functionality that is both easy to access and brutally powerful. Use the following addresses to access our API platform and take advantage of our powerful tools TODAY:

Trade API Request Codes (for those technically adept)
To send various requests:

/API.{XML OR JSON}/api_id/api_key/REQUEST&param=&param=
get_balance -> currency
get_balances
create_order -> ordertype,amount,currency1,unitprice,currency2
release_order -> orderid
delete_order -> orderid
read_order -> orderid
read_orders -> orderid
read_orderexecutions -> orderid
create_coupon -> amount,currency
redeem_coupon -> coupon

Support and Community
Crypto Change offers professional live chat functionality to quickly address and resolve any questions our users might have and help them optimize their experience with our platform.
Our support team experts are available 12 /7 to help you tackle ANY issue! You can always contact us via e-mail for a prompt response and you can also join our Bitcoin forums –one of the largest of its kind.
Ask your questions and meet other traders at Crypto Change’s Bitcoin forum to really utilize the power of trading synergy and community!

Crypto Change Insiders’ Newsletter
Don’t miss signing with our NEWSLETTER to stay updated on ALL the latest developments, news and product release and also receive insider’s info on the hottest trade trends!
Go to: https://www.crypto-change.com/ and sign up TODAY!

Contact Us
We would love to hear from you, so if you have any questions, comments, suggestions or you just want to reach out, please find us at:

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Crypto Change is Safer Than Your Local Bank

1 commentaire:
Crypto Change is Safer Than Your Local Bank!
Welcome to the most secure crypto bank in the whole world! Here at Crypto-Change we offer our users the most secure (actually, ultra-secure) online banking system with immense functionality and TONS of incredible options for instant conversion and sheer usability.
Wanna know what makes Crypto Change’s banking system stand head and shoulders above the rest? Read on…

Multi Wallet Redefined
Thanks to our cutting edge software system, Crypto Change boasts the safest and single most reliable online wallet service in the whole world!
It’s true, through our advanced multi wallet platform, all our users can process traders, deposit, withdraw, buy and sell crypto-currency in dollars, euro, RUR and every other mainstream currency on the planet. We sport one of the biggest online wallets in the world and thanks to our ultra-sophisticated and impressively secure wallet, Bitcoin exchange, Litecoin exchange and every other crypto currency transaction becomes easy and EXTREMELY profitable!

The Most Modern Trading Tools
Our powerful multi wallet that encompasses Bitcoin wallet, Litecoin wallet and every other virtual currency functionality allows our users to deposit and withdraw with maximal efficiency but what truly sets Crypto-Change apart is our powerful automated trading tools.
Enter our trading bot, one of the most efficient automated tools that allow our users to perform Bitcoin mining with unprecedented profitability and brutal efficiency. All our users are empowered with the trading bot that allows them to fully automate their trading thanks to a host of powerful functions and features that include:
·         Scheduling trades
·         Triggering (with numerous different triggers)
·         Full customization options
·         Clearly defined thresholds
·         Sophisticated AI for trading decision-making
·         And many more!
Our trading bot here at Crypto-Change is intelligent and powerful enough to help you sell at the best Bitcoin prices and buy for maximum profits!

Iron-Tight Security
Even the best banking system will fail if it is not secure enough and here at Crypto-Change we know this all too well! Our safety and user security features are distinguished as some of the safest in the world. With our award-winning security features you can rest assured your money is safe, your privacy is secured and your trading becomes easier and more hassle-free than ever.
We boast one of the most secure trading systems that safeguard the seamless user experience that has made Crypto-Change so popular.

High-Tech Support Platform with a Friendly Face
Our experts and live support team ensure that our banking system is always accessible and easy-to-use by beginners and experienced traders alike. We promptly respond to all e-mail queries and our professional customer support team will ensure your trading experience is second to none!

So don’t wait anymore, come on in and experience the sheer efficiency of Crypto-Change’s banking system! 
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Trade on NEW Levels with Crypto Change

1 commentaire:
Trade on NEW Levels with Crypto Change
Virtual currency trading used to be complicated and often unprofitable – not anymore!
Thanks to our amazing trading bot system, here at Crypto-Change.com we can proudly offer our users some of the most potent means to automate their Bitcoin trading and other crypto-currency trading to dominate the virtual currency markets.

Experience the Most Powerful Trading Bot
Our experts have worked long and hard to put together one of the most powerful automated trading systems, able to track the best Bitcoin rates with pinpoint accuracy and perform impressively lucrative Bitcoin earnings –even while you sleep!
Our Crypto-Change.com trading bot works with numerous markets, including btc-e.com and MtGox.com. We plan to expand to more markets and eventually cover the whole breadth of crypto currency trading –Yes, our trading system is THAT POWERFUL!

Trigger your Success
Our ultra-sophisticated trading bot will warn you of all market changes and make Bitcoin trades based on the triggers YOU, the user configure!
Triggers are fully customizable trading rules you can easily program in your trading bot to tell it when to buy or sell your virtual currency based on the BTC prices, LTC prices and any other prices you might be after.

Trigger Example
Using triggers is easy as pie, here is an example of how it is done:
·         Set up a BTC trigger of $100 with a value of 3,
·         When the price of BTC falls below $100, the trading bot will automatically buy 3 BTC at that price.
·         Repeat for perpetual profits!
Once you’ve set up your triggers, you can sit back and watch the trading bot make you money under YOUR OWN rules, making you rich while you sleep!

Crypto-Currency Trading Made Easy!
Our trading bot and ultra-efficient platform can automate your trading but we also offer a host of other functionalities to our users. Our system can notify our users by e-mail or SMS about any sudden change in the Bitcoin market according to a number of different rules much like our trading bot triggers work!
So don’t wait any longer, enter Crypto-Change.com, utilize our trading bot and experience Bitcoin (Биткоин) trading like never before!


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What Makes Crypto Change Stand Out From the Crowd

Aucun commentaire:
What Makes Crypto Change Stand Out From the Crowd
Here at Crypto-Change.com, we pride ourselves for being one of the best, fastest growing and most secure crypto-currency exchange platforms ever to hit the internet. Our experts have worked diligently to bring our users the most innovative features and the most powerful trading functionality that enables people to make LOTS of money by taking advantage of the optimal BTC exchange rates.
In addition to Bitcoin, our virtual coin transactions support Litecoin, Namecoin, Terracoin, Ppcoin, Feathercoin, Novacoin and Devcoin online transactions, creating the largest and most reliable multi wallet in the world!

Incredible Functionality
As an upcoming leading website in crypto-currency exchange, Crypto-Change offers unprecedented functionality in terms of trading efficiency, user friendliness and sheer efficiency that makes trading easier than before for all our users!
We offer incredible rates and top-tier exchange services for all the main currencies in the world.
Additionally, we redefine virtual coin innovation by launching CryptoPool; a gigantic market approach to build a sizable pool of crypto-currencies for all our users. The CryptoPool will eventually help our users enjoy the highest BTC exchange rates in the world!

World Class Exchange and Trading Bot
Our award-winning exchange services cover EVERY MAIN CURRENCY and EVERY CRYPTO-CURRENCY currently on circulation. We boast some of the most profitable exchange rates and powerful trading options for our users to enjoy and facilitate transactions with incredible profitability!
Crypto-Currency.com boasts the most powerful trading bot that takes control of the market and allows our users to decipher the crypto-currency market trends. You can use our site to automate all your transactions and schedule auto trading orders for MAXIMUM profits!
All our transactions are backed by one of the safest and most secure banking systems in the world. Thanks to our multi wallet banking approach, our users can store their earnings locally, with NO RISK whatsoever thanks to our ultra-secure wallet policy!

A Vibrant Community
Our community here at Crypto-Currency.com is vibrant, lively and most helpful. In our members area, users will find the collective experience of numerous seasoned traders, powerful trading tools (such as our trading bot) and various other amenities that will make your stay pleasurable and your trading extremely efficient. Our Bitcoin forums are full of experienced members that are eager to help, pass advice and share ideas on how to best trade virtual coins and real world currencies with brutal efficiency. The community is further 
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mardi 18 juin 2013

Why Litecoin has a Place in the Cryptocurrency Community

1 commentaire:

Litecoin is the second largest cryptocurrency today, and has around 2-3% of the total cryptocurrency market. It seems to bother some people to no end that Litecoin even exists, so I thought it would make sense to look closer at what Litecoin does that Bitcoin may not.

Diversity

I have previously argued that the diversity of cryptocoins is good for the overall cryptocurrency community. In short, the existence of cryptocurrencies other than Bitcoin serves to provide the community and the world with alternatives.
Note: Refer to my article Bitcoin, Litecoin, Whatcoin? Oh My! for the full article.
Why are alternatives important? Well, as in biology, the features that best provides survival for a species tend to survive from generation to generation, while features that are pointless tend to die out. To some extent, this can be said for alternative coins too; those that have features that make them competitive are those that society will adopt.
One argument I hear often is that Bitcoin can implement any of the features that alternative cryptocoins have. That may be, although it may certainly call for severe changes in Bitcoin, but the big question remains: Which features should Bitcoin adopt?
Litecoin has features that society seems to like. Even if the coin itself may not survive, it can provide Bitcoin or other cryptocoins with important information about what society wants.
This is not necessarily an argument for Litecoins specifically, but Litecoins success compared to other coins may tell the cryptocurrency community that Litecoin has features society wants.
Another argument against Litecoin is that it isn’t innovative enough; that it is too similar to Bitcoin and thus offer no additional value.
I’m not sure I agree with this argument in the first place, but the state of a currency at its beginning is not necessarily an indication of how it will evolve. This is, in fact, the whole idea of innovation and evolution. You start out with one idea and evolve that as time moves on.
Litecoin may evolve in completely separate directions from Bitcoin, and may thus be a completely different coin months or years from now. This further strengthens the cryptocoin community, and even Bitcoin may choose to pick up features that have evolved from other coins.

Speed

One feature that separates Litecoin from Bitcoin is transaction speed. Where Bitcoin has a 10 minute block time on average, Litecoins have a 2.5 minute block time.
Note: For those that do not know, block time determines how fast a transaction is confirmed.
This increased block speed makes Litecoin a faster currency. For vendors looking to process transactions rapidly, this may be a benefit.
The change in block speed isn’t necessarily the benefit that stores and other rapid transaction processors want, though. Even with Bitcoin’s 10 minute blocks, once a transaction is distributed to the network, essentially immediately after sending, it is virtually impossible and certainly uneconomical for someone to try to exploit the unconfirmed status.
For smaller transactions, say less than $100, a store owner can relatively safely assume that a transaction will not be at risk as soon as they see the payment received on their end.
However, for larger transactions, vendors may want to wait for a certain time or for a certain number of confirmations before sending the goods.
This is where Litecoin can provide a benefit. If you are buying a car, you want to get into your new vehicle as quickly as possible, but the vendor is unlikely to give you the keys before the customary 6 confirmations have happened. This takes an hour with Bitcoin and about 15 minutes with Litecoin.
Note: The number of transactions does not necessarily equate to more security. In other words, 6 Litecoin transactions may not equate to 6 Bitcoin transactions in terms of security.
Of course, if you’re standing in line at the grocery store, waiting around for 2.5 minutes for your payment to verify at least once is still too long. If stores require at least one verification, however, 2.5 minutes is better than 10 minutes.

Security

Speaking of security, Litecoin may offer some interesting features to help make it more secure.
First, the most fatal security issue with Bitcoin-derived cryptocurrencies is what is known as a 51% attach. In short, this means that someone who controls 51% of the total network mining power can effectively double-spend money. Double-spend means that money can be spent twice, for example to send money first to a merchant, but then resend the money back to the attacker, essentially cheating the merchant of the money.
Litecoin, although much smaller than Bitcoin, uses a different algorithm for mining calledScrypt (where Bitcoin uses SHA-256). This is important because Scrypt is much more expensive in terms of computing power and it is currently infeasible to create specialized hardware that mines Litecoins much faster than current technology.
For Bitcoin, ASIC equipment is very effective at achieving massive hashing power. As such, the network itself is very powerful and growing in power every day. However, this also cuts the other way; because Bitcoin blocks can be easily mined with specialized hardware, it makes it cheaper to produce hardware to attack the network.
Note: To read more about ASICs and what they are, check out the article called What Are ASIC Miners and Why Are They So Important?
For Litecoin, the most effective hardware today are graphics cards with GPU processors and massive memory bandwidth. This means that an attacker today would need to gain control over a huge amount of graphics cards, which are very expensive, in order to conduct a 51% attack.
Another factor in the 51% attack is that for the attack to be successful, the attacker needs to control the network for a certain amount of time. Even if the attacker had 51% of the network, the power cost of running such a network would quickly outweigh the benefit of double-spending money. 
Right now, though, the Litecoin network is much smaller than the Bitcoin network, so that means an attack today may be feasible, especially if the attacker could get control over one of the mining pools.
Well, maybe, but we still have one more feature to discuss.

Mining

As mentioned, Litecoin uses a different mining protocol from Bitcoin. This protocol, called Scrypt, requires memory bandwidth in addition to raw processing power. The algorithm was designed to be resistant to specialized cryptographic hardware that could otherwise be used to crack strong encryption.
Until ASICs came along in 2013, the most efficient way to mine Bitcoins was using graphics cards, and especially AMD Radeon cards. These cards, however, are not match for ASIC miners, so with the introduction of ASICs, a lot of Bitcoin mining graphics cards will become less profitable.
However, Litecoin mining with graphics cards and their GPUs and massive memory bandwidth is still feasible. In fact, today, GPUs are the most efficient way to mine Litecoins. Combine that with the fact that Litecoin is resistant to current ASIC technology, and existing Bitcoin miners will quickly find that moving their resources to mine Litecoins yields far more profit.
This means that the Litecoin network is far more distributed than Bitcoin. In the case of Bitcoin, large ASIC mining farms can quickly take 25-40% of the total network capacity. This can make Bitcoin more susceptible to a 51% attack because an attacker would need to control just one of two of the large mining pools in order to control more than 51% of the network.
Of course, the mining profitability of Litecoin also means that people that bought special mining rigs for Litecoin still has a place to earn money from their investments, which in turn means that the network will continue to exist as long as people are using Litecoins are willing to part with other types of currency to get it.

Conclusion

To summarize, Litecoin is an important part of the cryptocurrency experiment because it offers diversity, speed, security, and a chance for miners to continue earning from their investments.
Whether Litecoin, Bitcoin, or any currency survives, well, that all depends on you, as a part of the society that has to adopt these coins as a new way of thinking money.

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jeudi 5 septembre 2013

Smaller Crypto-Currency (and why you should care)

After the success Bitcoin currency has enjoyed since it was released in 2009, many smaller currencies appeared to rival the more powerful original and fill the gaps of a blossoming new economy. While Bitcoins might be everyone’s first choice, there are quite a few reasons why you should look out for smaller crypto currencies out there. First of all Bitcoins reach some high prices over time and you might want to invest in a currency that isn’t as inflated yet, so that you can make money as the currency grows. It is simply smart to invest in something that is certain to increase in value and almost perfectly safe from losing any value.

Namecoin is the first small crypto currency we’ll talk about. Namecoin is an amazing decentralized DNS based currency system. No single country or bank can control it and the limited number of Namecoins which can be produced will keep the currency from inflating. There can only be 21 million Namecoins and the rate they are creates drops every 4 years.

Terracoin is one of those very popular small crypto currencies out there at the time. It seriously launched during 2012, making it quite a young coin to use. Yet nonetheless over 150000 transactions have been made with 1.6 million Terracoins. One can give some of their computer capacity to the Terracoin system for the network transaction validation process, actively helping the coin rise in worth. Over 10 exchanges per minute are made, showing how promising a currency Terracoin is.

Ppcoin is the first crypto currency that uses a combined proof-of-stake/proof-of-work system, giving this coin its popularity. You might know this small crypto currency by its other name: Peercoin, yet whatever name you call it by the fact remains that is has been largely successful as of date in releasing economic exchanges from the shackles of bank and country economies.

What is new and exciting about Feathercoin, which boasts to be similar to Bitcoin and Litecoin, is that four times as many coins will be released, promising an increased longevity and showing confidence in the growing crypto currency market. Since crypto currency is doing so well so far, Feathercoin seems to be having the right idea increasing the amount of the coins available in comparison to other crypto currencies, yet still keeping a limit to prevent inflation.

mardi 27 août 2013

The Future of Crypto-Currency and How to Be Rich Tomorrow

From the first moment Crypto Currencies came online it has been a battle against the old, rotting economy that has thrown us into the recession. It is no secret that the way things used to work actually didn’t work at all. The old economy has thrown us from recession to recession, leaving whole generations devastated and changing our dreams and future in non-positive ways. Depending on nations and rich establishments like banks, the old economy proved to be all too fallible and secretive altogether.

This is why the whole concept of a free, global economy that is unrestricted by outer factors like countries and banks didn’t come as a surprise to those who knew what the world really needed. Nonetheless the birth of Bitcoin was still something many watched with hesitation and dismissed as a fad or scam. Nothing could have been further from the truth and Bitcoin spoke with actions, or should I say transactions, rather than promises. The worth of the Bitcoin rose immensely in the last years from its all time low of 2$ per piece to its current of around 95$ per coin.

The Bitcoin works with special codes which change every time a transaction is made. Special crypto keys keep the coins from being stolen and the chain of transactions makes the coin easy to track and transaction simple to monitor. Since it is just too much hassle to hack or copy so many transactions and codes the system is not worth hacking at all, making it a pretty safe investment, as opposed to what internet luddites feared. When an exploit was discovered in 2010, instead of proving those dismissive minds right, Bitcoin immediately corrected the mistake, nobody lost their money or worth of it and Bitcoin has since never had an exploit episode again.

Following this amazing success of a brand new way to transact and pay, many of course created their own crypto currencies. Bitcoins are after all finite and could not fit the whole world economy once crypto currencies reach their expected future popularity. There was plenty of room for more crypto currencies to serve the world and plenty were born.

Plenty crypto currencies enjoy their share of success today with some names being Litecoin, the greatest rival of Bitcoin, Feathercoin, Novacoin and many, many more. Smaller crypto currencies have their own place in this new economy promising rising prices and bigger profits than already established coins.
Something that is pretty much unique in crypto currencies and which promises to keep them safe from inflation is the limited amount of coins that can actually be created. Most coins will stop at 21 million with only a few like Feathercoin crafting four times as much. Every four years new coins are released into the market, yet the amount of those coins will grow smaller, until it reaches zero and then the maximum amount of coins will have been reached. This way you know that your coins will not lose their worth because too many have been printed; because that is simply impossible with crypto currency and the way they work.
As reality proves, crypto currencies become bigger and bigger, multiplying and sharing a new unrestricted economy to all those who dare to win. The future of the world economy is here in the form of these crypto currencies and we can expect them to become more and more popular. Not only that, the whole software and crypto currency system will too improve in time, creating more powerful coins and larger markets for them. Already some countries allow tax payment in Bitcoins and even wages have been partly paid in Bitcoins, showing the increased trust in crypto currency that some never expected to become reality. Crypto currencies have won the world over with actions not promises, and that is where they are superior to the older currencies world over.

samedi 24 août 2013

The History of Bitcoin

When one speaks of Bitcoin, one speaks of futuristic economy available here and now, for
those daring and wise enough to invest in something new. People are of course skeptic
when it comes to something like a currency that isn’t backed by a bank or country. But think
of where that type of thinking has got us until now. Bitcoins are after all something excitingly
new in a stale rotting economy. Nobody has been left untouched by the recession, which is
living proof that our modern way of exchanging currency isn’t that “modern” in the sense
of being lucrative and progressive. This is why Bitcoins deserve more than a chance; they
deserve endorsement and lots of attention, so that we can break free of an old economy
and start a new one which will make us all richer.

This is why a man, or a team of people, who went under the alias Satoshi Nakamoto
announced in the year 2008 the amazingly new Bitcoin software. Until now nobody knows
who Satoshi Nakamori is and that will probably remain a closely guarded secret forever.
When I say new when referring to Bitcoins I mean original and ahead of their time. This
announcement promised an unrestricted economic currency that would soon flood the
open worldwide market through the internet. Bitcoins were to be a safe, fast and precious
currency for the future and in 2009 this dream-like proposition became reality.

Of course like every daring new idea there were some bumps on the road to perfection. In
2010 the first Bitcoin transactions began for real. A vulnerability in the system was detected
and exploited, but the Bitcoin programmers caught on to the fraud and nullified the false
transactions quickly, returning the Bitcoin back to a normal rate of production. Many
feared that more exploits would soon ruin the whole Bitcoin concept, but thankfully the
programmers have kept the system in top shape ever since.

Sadly during the year 2011 the Bitcoin market crashed from 30$ per piece to 2$, but even
this hurdle wasn’t too much for this promising new currency to overcome. On the upside it
was the year 2011 when Wikileaks began to accept Bitcoins for donation and many markets
opened up to this new way of payment when they used to be skeptic about it. Bitcoins even
had their share of fame, featuring in the television drama “The Good Wife”.

BitPay announced in the year 2012 that Bitcoin now had around a thousand markets it was
used and accepted in. It seemed like Bitcoin finally managed to become a widely used type
of currency. In 2013 all those hopes where finally answered with success as the Bitcoin reached its all
time high price at 266$ and settling at 160$ soon after. If we remember that 2$ price in 2011
the Bitcoin surely has come a long way. Over 1 million Bitcoins were sold for 22$ in a single
month during January, and that was only 3 months before the all time high price in April.

Perhaps the most fascinating part is that Bitcoins are now ruled legal ways of payment in
many countries, while court cases seem to open and be won all over the world. Germany
even accepts Bitcoins for taxes now, while Thailand pays some of its wages to in Bitcoins to some.

Seeing the immense progress and positive outcome of all that is Bitcoin currency and
transaction we can only be pleased that human ingenuity finds a way to defeat adversity
even in such harsh economic times such as these. Those who invested are now pleased and
have secure transaction with the whole world, become a globalized economy was only the
next logical step down the road and some have already taken it with Bitcoin.

mercredi 17 juillet 2013

Crypto-change.com advantages, methods, API and more

Dear friends and online traders,

We proudly welcome you to Crypto Change, your one stop shop and leading platform for the BEST Bitcoin, Litecoin, Namecoin, Terracoin, Ppcoin, Feathercoin, Novacoin, Devcoin trading and transactions between USD and RUR.

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Key Features and Advantages
Fully automated trading with sophisticated software ensures TOP rates!
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Instant transactions: Deposit or withdraw your crypto currency Bitcoin, Litecoin, Namecoin instantly and securely at the BEST exchange rates.
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Numerous deposit options for ALL currencies and cypto currencies

Crypto Change USD Deposit Options
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·         QIWI (commission - 0%), minimum amount – RUR 1.
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Crypto Change USD Withdrawal Options
·         VISA USD (commission - 4%), min. amount - 100$ – BRAND NEW system for USD withdrawals!
·         Webmoney WMZ (commission - 4% + 0.8% Webmoney commission), minimum amount - 10$ (the commission has been decreased by 1% for Crypto Change users)
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·         Privatbank USD (commission - 5%), minimum amount - $100
·         Privatbank UAH (commission - 5%), minimum amount - $100
·         QIWI (commission - 6%), minimum amount - 50$
·         LiqPay.com (commission - 3%-5%), minimum amount - $10
·         AlertPay (commission - 6%), minimum amount - $200
·         Sberbank (commission - 6%), minimum amount - $350
·         Telebank (commission - 6%), minimum amount - $350
·         Alfa Bank (commission - 6%), minimum amount - $350
·         Wire Transfer & SEPA (commission - 0.1%, min. commission - $15)
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Crypto Change RUR Withdrawal Options
·         QIWI (commission - 1%), minimum amount – RUR 500
·         Webmoney WMR (commission - 3% + 0.8% webmoney commission), minimum amount – RUR 500 (the commission has been decreased by 1% for Crypto Change users)
·         Yandex (commission - 6%), minimum amount – RUR 3,000
·         RBK Money (commission - 6%), minimum amount – RUR 500
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·         MasterCard (commission - 5%), minimum amount - RUR 5,000
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Remember that ALL fees for BitCoin \ SolidCoin transactions remain a fixed amount of JUST 0.01 - BTC \ SC for each individual transaction!

Crypto Change Trade API
We offer world class trade API functionality that is both easy to access and brutally powerful. Use the following addresses to access our API platform and take advantage of our powerful tools TODAY:

Trade API Request Codes (for those technically adept)
To send various requests:

/API.{XML OR JSON}/api_id/api_key/REQUEST&param=&param=
get_balance -> currency
get_balances
create_order -> ordertype,amount,currency1,unitprice,currency2
release_order -> orderid
delete_order -> orderid
read_order -> orderid
read_orders -> orderid
read_orderexecutions -> orderid
create_coupon -> amount,currency
redeem_coupon -> coupon

Support and Community
Crypto Change offers professional live chat functionality to quickly address and resolve any questions our users might have and help them optimize their experience with our platform.
Our support team experts are available 12 /7 to help you tackle ANY issue! You can always contact us via e-mail for a prompt response and you can also join our Bitcoin forums –one of the largest of its kind.
Ask your questions and meet other traders at Crypto Change’s Bitcoin forum to really utilize the power of trading synergy and community!

Crypto Change Insiders’ Newsletter
Don’t miss signing with our NEWSLETTER to stay updated on ALL the latest developments, news and product release and also receive insider’s info on the hottest trade trends!
Go to: https://www.crypto-change.com/ and sign up TODAY!

Contact Us
We would love to hear from you, so if you have any questions, comments, suggestions or you just want to reach out, please find us at:

Crypto Change is Safer Than Your Local Bank

Crypto Change is Safer Than Your Local Bank!
Welcome to the most secure crypto bank in the whole world! Here at Crypto-Change we offer our users the most secure (actually, ultra-secure) online banking system with immense functionality and TONS of incredible options for instant conversion and sheer usability.
Wanna know what makes Crypto Change’s banking system stand head and shoulders above the rest? Read on…

Multi Wallet Redefined
Thanks to our cutting edge software system, Crypto Change boasts the safest and single most reliable online wallet service in the whole world!
It’s true, through our advanced multi wallet platform, all our users can process traders, deposit, withdraw, buy and sell crypto-currency in dollars, euro, RUR and every other mainstream currency on the planet. We sport one of the biggest online wallets in the world and thanks to our ultra-sophisticated and impressively secure wallet, Bitcoin exchange, Litecoin exchange and every other crypto currency transaction becomes easy and EXTREMELY profitable!

The Most Modern Trading Tools
Our powerful multi wallet that encompasses Bitcoin wallet, Litecoin wallet and every other virtual currency functionality allows our users to deposit and withdraw with maximal efficiency but what truly sets Crypto-Change apart is our powerful automated trading tools.
Enter our trading bot, one of the most efficient automated tools that allow our users to perform Bitcoin mining with unprecedented profitability and brutal efficiency. All our users are empowered with the trading bot that allows them to fully automate their trading thanks to a host of powerful functions and features that include:
·         Scheduling trades
·         Triggering (with numerous different triggers)
·         Full customization options
·         Clearly defined thresholds
·         Sophisticated AI for trading decision-making
·         And many more!
Our trading bot here at Crypto-Change is intelligent and powerful enough to help you sell at the best Bitcoin prices and buy for maximum profits!

Iron-Tight Security
Even the best banking system will fail if it is not secure enough and here at Crypto-Change we know this all too well! Our safety and user security features are distinguished as some of the safest in the world. With our award-winning security features you can rest assured your money is safe, your privacy is secured and your trading becomes easier and more hassle-free than ever.
We boast one of the most secure trading systems that safeguard the seamless user experience that has made Crypto-Change so popular.

High-Tech Support Platform with a Friendly Face
Our experts and live support team ensure that our banking system is always accessible and easy-to-use by beginners and experienced traders alike. We promptly respond to all e-mail queries and our professional customer support team will ensure your trading experience is second to none!

So don’t wait anymore, come on in and experience the sheer efficiency of Crypto-Change’s banking system! 

Trade on NEW Levels with Crypto Change

Trade on NEW Levels with Crypto Change
Virtual currency trading used to be complicated and often unprofitable – not anymore!
Thanks to our amazing trading bot system, here at Crypto-Change.com we can proudly offer our users some of the most potent means to automate their Bitcoin trading and other crypto-currency trading to dominate the virtual currency markets.

Experience the Most Powerful Trading Bot
Our experts have worked long and hard to put together one of the most powerful automated trading systems, able to track the best Bitcoin rates with pinpoint accuracy and perform impressively lucrative Bitcoin earnings –even while you sleep!
Our Crypto-Change.com trading bot works with numerous markets, including btc-e.com and MtGox.com. We plan to expand to more markets and eventually cover the whole breadth of crypto currency trading –Yes, our trading system is THAT POWERFUL!

Trigger your Success
Our ultra-sophisticated trading bot will warn you of all market changes and make Bitcoin trades based on the triggers YOU, the user configure!
Triggers are fully customizable trading rules you can easily program in your trading bot to tell it when to buy or sell your virtual currency based on the BTC prices, LTC prices and any other prices you might be after.

Trigger Example
Using triggers is easy as pie, here is an example of how it is done:
·         Set up a BTC trigger of $100 with a value of 3,
·         When the price of BTC falls below $100, the trading bot will automatically buy 3 BTC at that price.
·         Repeat for perpetual profits!
Once you’ve set up your triggers, you can sit back and watch the trading bot make you money under YOUR OWN rules, making you rich while you sleep!

Crypto-Currency Trading Made Easy!
Our trading bot and ultra-efficient platform can automate your trading but we also offer a host of other functionalities to our users. Our system can notify our users by e-mail or SMS about any sudden change in the Bitcoin market according to a number of different rules much like our trading bot triggers work!
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What Makes Crypto Change Stand Out From the Crowd

What Makes Crypto Change Stand Out From the Crowd
Here at Crypto-Change.com, we pride ourselves for being one of the best, fastest growing and most secure crypto-currency exchange platforms ever to hit the internet. Our experts have worked diligently to bring our users the most innovative features and the most powerful trading functionality that enables people to make LOTS of money by taking advantage of the optimal BTC exchange rates.
In addition to Bitcoin, our virtual coin transactions support Litecoin, Namecoin, Terracoin, Ppcoin, Feathercoin, Novacoin and Devcoin online transactions, creating the largest and most reliable multi wallet in the world!

Incredible Functionality
As an upcoming leading website in crypto-currency exchange, Crypto-Change offers unprecedented functionality in terms of trading efficiency, user friendliness and sheer efficiency that makes trading easier than before for all our users!
We offer incredible rates and top-tier exchange services for all the main currencies in the world.
Additionally, we redefine virtual coin innovation by launching CryptoPool; a gigantic market approach to build a sizable pool of crypto-currencies for all our users. The CryptoPool will eventually help our users enjoy the highest BTC exchange rates in the world!

World Class Exchange and Trading Bot
Our award-winning exchange services cover EVERY MAIN CURRENCY and EVERY CRYPTO-CURRENCY currently on circulation. We boast some of the most profitable exchange rates and powerful trading options for our users to enjoy and facilitate transactions with incredible profitability!
Crypto-Currency.com boasts the most powerful trading bot that takes control of the market and allows our users to decipher the crypto-currency market trends. You can use our site to automate all your transactions and schedule auto trading orders for MAXIMUM profits!
All our transactions are backed by one of the safest and most secure banking systems in the world. Thanks to our multi wallet banking approach, our users can store their earnings locally, with NO RISK whatsoever thanks to our ultra-secure wallet policy!

A Vibrant Community
Our community here at Crypto-Currency.com is vibrant, lively and most helpful. In our members area, users will find the collective experience of numerous seasoned traders, powerful trading tools (such as our trading bot) and various other amenities that will make your stay pleasurable and your trading extremely efficient. Our Bitcoin forums are full of experienced members that are eager to help, pass advice and share ideas on how to best trade virtual coins and real world currencies with brutal efficiency. The community is further 

mardi 18 juin 2013

Why Litecoin has a Place in the Cryptocurrency Community

Litecoin is the second largest cryptocurrency today, and has around 2-3% of the total cryptocurrency market. It seems to bother some people to no end that Litecoin even exists, so I thought it would make sense to look closer at what Litecoin does that Bitcoin may not.

Diversity

I have previously argued that the diversity of cryptocoins is good for the overall cryptocurrency community. In short, the existence of cryptocurrencies other than Bitcoin serves to provide the community and the world with alternatives.
Note: Refer to my article Bitcoin, Litecoin, Whatcoin? Oh My! for the full article.
Why are alternatives important? Well, as in biology, the features that best provides survival for a species tend to survive from generation to generation, while features that are pointless tend to die out. To some extent, this can be said for alternative coins too; those that have features that make them competitive are those that society will adopt.
One argument I hear often is that Bitcoin can implement any of the features that alternative cryptocoins have. That may be, although it may certainly call for severe changes in Bitcoin, but the big question remains: Which features should Bitcoin adopt?
Litecoin has features that society seems to like. Even if the coin itself may not survive, it can provide Bitcoin or other cryptocoins with important information about what society wants.
This is not necessarily an argument for Litecoins specifically, but Litecoins success compared to other coins may tell the cryptocurrency community that Litecoin has features society wants.
Another argument against Litecoin is that it isn’t innovative enough; that it is too similar to Bitcoin and thus offer no additional value.
I’m not sure I agree with this argument in the first place, but the state of a currency at its beginning is not necessarily an indication of how it will evolve. This is, in fact, the whole idea of innovation and evolution. You start out with one idea and evolve that as time moves on.
Litecoin may evolve in completely separate directions from Bitcoin, and may thus be a completely different coin months or years from now. This further strengthens the cryptocoin community, and even Bitcoin may choose to pick up features that have evolved from other coins.

Speed

One feature that separates Litecoin from Bitcoin is transaction speed. Where Bitcoin has a 10 minute block time on average, Litecoins have a 2.5 minute block time.
Note: For those that do not know, block time determines how fast a transaction is confirmed.
This increased block speed makes Litecoin a faster currency. For vendors looking to process transactions rapidly, this may be a benefit.
The change in block speed isn’t necessarily the benefit that stores and other rapid transaction processors want, though. Even with Bitcoin’s 10 minute blocks, once a transaction is distributed to the network, essentially immediately after sending, it is virtually impossible and certainly uneconomical for someone to try to exploit the unconfirmed status.
For smaller transactions, say less than $100, a store owner can relatively safely assume that a transaction will not be at risk as soon as they see the payment received on their end.
However, for larger transactions, vendors may want to wait for a certain time or for a certain number of confirmations before sending the goods.
This is where Litecoin can provide a benefit. If you are buying a car, you want to get into your new vehicle as quickly as possible, but the vendor is unlikely to give you the keys before the customary 6 confirmations have happened. This takes an hour with Bitcoin and about 15 minutes with Litecoin.
Note: The number of transactions does not necessarily equate to more security. In other words, 6 Litecoin transactions may not equate to 6 Bitcoin transactions in terms of security.
Of course, if you’re standing in line at the grocery store, waiting around for 2.5 minutes for your payment to verify at least once is still too long. If stores require at least one verification, however, 2.5 minutes is better than 10 minutes.

Security

Speaking of security, Litecoin may offer some interesting features to help make it more secure.
First, the most fatal security issue with Bitcoin-derived cryptocurrencies is what is known as a 51% attach. In short, this means that someone who controls 51% of the total network mining power can effectively double-spend money. Double-spend means that money can be spent twice, for example to send money first to a merchant, but then resend the money back to the attacker, essentially cheating the merchant of the money.
Litecoin, although much smaller than Bitcoin, uses a different algorithm for mining calledScrypt (where Bitcoin uses SHA-256). This is important because Scrypt is much more expensive in terms of computing power and it is currently infeasible to create specialized hardware that mines Litecoins much faster than current technology.
For Bitcoin, ASIC equipment is very effective at achieving massive hashing power. As such, the network itself is very powerful and growing in power every day. However, this also cuts the other way; because Bitcoin blocks can be easily mined with specialized hardware, it makes it cheaper to produce hardware to attack the network.
Note: To read more about ASICs and what they are, check out the article called What Are ASIC Miners and Why Are They So Important?
For Litecoin, the most effective hardware today are graphics cards with GPU processors and massive memory bandwidth. This means that an attacker today would need to gain control over a huge amount of graphics cards, which are very expensive, in order to conduct a 51% attack.
Another factor in the 51% attack is that for the attack to be successful, the attacker needs to control the network for a certain amount of time. Even if the attacker had 51% of the network, the power cost of running such a network would quickly outweigh the benefit of double-spending money. 
Right now, though, the Litecoin network is much smaller than the Bitcoin network, so that means an attack today may be feasible, especially if the attacker could get control over one of the mining pools.
Well, maybe, but we still have one more feature to discuss.

Mining

As mentioned, Litecoin uses a different mining protocol from Bitcoin. This protocol, called Scrypt, requires memory bandwidth in addition to raw processing power. The algorithm was designed to be resistant to specialized cryptographic hardware that could otherwise be used to crack strong encryption.
Until ASICs came along in 2013, the most efficient way to mine Bitcoins was using graphics cards, and especially AMD Radeon cards. These cards, however, are not match for ASIC miners, so with the introduction of ASICs, a lot of Bitcoin mining graphics cards will become less profitable.
However, Litecoin mining with graphics cards and their GPUs and massive memory bandwidth is still feasible. In fact, today, GPUs are the most efficient way to mine Litecoins. Combine that with the fact that Litecoin is resistant to current ASIC technology, and existing Bitcoin miners will quickly find that moving their resources to mine Litecoins yields far more profit.
This means that the Litecoin network is far more distributed than Bitcoin. In the case of Bitcoin, large ASIC mining farms can quickly take 25-40% of the total network capacity. This can make Bitcoin more susceptible to a 51% attack because an attacker would need to control just one of two of the large mining pools in order to control more than 51% of the network.
Of course, the mining profitability of Litecoin also means that people that bought special mining rigs for Litecoin still has a place to earn money from their investments, which in turn means that the network will continue to exist as long as people are using Litecoins are willing to part with other types of currency to get it.

Conclusion

To summarize, Litecoin is an important part of the cryptocurrency experiment because it offers diversity, speed, security, and a chance for miners to continue earning from their investments.
Whether Litecoin, Bitcoin, or any currency survives, well, that all depends on you, as a part of the society that has to adopt these coins as a new way of thinking money.