I don't think litecoin will suffer the errors of bitcoin. With litecoin, the entire blockchain exists in every wallet. Mind you, this is a huge database and can take days to create a wallet unless you order the blockchain on DVD.
Bitcoin only links resident coins to the blockchain along with the local code of the wallet. Forking will work with bitcoin; but, I don't see how it can work with litecoin. The other advantage of litecoin is transaction time. With the resident blockchain, transactions are almost instantaneous; whereas, bitcoin transactions can take up to an hour depending on market activity. Problem is, you can't buy much with litecoin, except bitcoin. :-) On Sat, Mar 1, 2014 at 1:44 AM, Terry Blanton <hohlr...@gmail.com> wrote: > proceeded=preceded > > Interesting error, eh? > > On Sat, Mar 1, 2014 at 1:39 AM, Terry Blanton <hohlr...@gmail.com> wrote: >> I doubt any exchanges were involved in Silk Road assets. The >> advantage of VCs is that you can make transactions between individuals >> without any bank or exchange involved. Silk Road held their assets in >> their own wallet. When busted by the FBI, it took that agency several >> days to access the wallet information. >> >> Besides, it was the bust of Silk Road which proceeded the huge rise in >> BC values, IIRC. >> >> The loss at MtGox was likely the result of something called "forking", >> the duplication of internal wallets of clients. Once the wallets >> existed in duality, the controlling entity of the cloned wallet was >> able to move the funds to other locations. It's like keeping two sets >> of books, one for the IRS and one for your records.
