Why Litecoin is better than Bitcoin.

We are all waiting for the big spike in the Litecoin spot price. Based on its usability, it is extremely undervalued in comparison to Bitcoin, and you really cant foresee it going south from this point. It is a very safe bet IMO.

The main reason why Litecoin is so attractive to me, is the efficiency of it.

Let me explain:

The bitcoin hash rate is 5,013,896,760GH/s. Using Antminers most efficient miner, S9, the S9 is capable of delivering 14,000GH/s. In order to do this, it requires 1372 Watts to run.

With the Bitcoin network hashrate, we would require 358,135 Antminer S9's which would require 490,644,000 Watts of energy.
Over a 24 hour period, it equates to 11,775,478,000 Watt hours of energy per day to run the bitcoin network, and that does not include account nodes.

Lets say the average transactions for bitcoin per day is 330,000 transactions. If you divide the total watt hours to run the bitcoin network, by the number of transactions, 11,775,478,000 / 330,000 = 35000W/h per transaction. or 35kW/h.

Using Australian electricity prices, @0.29c per kw/h, it costs $10 per transaction just in power requirements.

THIS IS UNSUSTAINABLE!!!!

The Litecoin hashrate is 7,217GH/s.

Antminers most efficient miner for LTC is the L3+ and is capable of delivering 0.5GH/s and requires 800Watts to run.
Over a 24 hour period it equates to 277,132kWh of energy to run the litecoin network, not including account nodes.

There are 220, 000 transactions per day divided by 277,132kWh energy usage, and it equates to 1.3kWh per transaction.

@29c per kwh, it costs $0.35c per LTC transaction compared to $10 per transaction for Bitcoin.

If you take into account the production of new coins, it makes litecoin even more efficient as the algorithm allows for 4 times the supply.

nb. (the numbers were crunched a couple of months ago, and would have changed slightly).

Conclusion.

The Litecoin price is undervalued. The probability of a massive spike is real.

Is Litecoin to Bitcoin, what Facebook is to MySpace? Just maybe.