New Crypto Currency hits the Market

I'll be the first to admit that I have little knowledge when it comes to crypto currency. I had a few friends that understand it enough to dabble in former strongholds like the recently raided "Silk Road," and the use of bitcoins.

It just seemed a little too far fetched for this old country boy when Gold and Silver prices are still doing well. I'm more of a material man, I like to physically be able to hold my profits, proof, etc.

Readers, leave your comments below of experiences dealing with crypto currency and your opinions on the subject!

Here is an excerpt containing information on the new crypto currency, which is called "LOT,"

What Else About LOT Coin ?
 

The choice for winners, LOT Coin is a p2p crypto coin based on scrypt PoW, descendant of Litecoin, making it a great crypto coin for online. Creating random coins between 256 and 65536 (256*256) coins per block, it also generates random superblocks for minders to get a chance to find 1,048,576 coins for the block with a Semi Daily Block for 262,144 coins and an Hourly Block for 131,072 coins.

Bitcoins and other cryptocurrency have been rising in number and are being seen as a legitimate means of exchange online as the technology behind them develops. It is a fast, convenient, and discrete method for completing a transaction. A great alternative coin for sites, more and more companies are turning to LOT Coin for their platforms.
 

LOT Coin also has much shorter block times because it only has to go through 4 confirmations as opposed to the 6 confirmations required for Bitcoin and many other Cryptocurrencies, which means transactions, may take up to 15 minutes compared to 30 seconds required for LOT Coin; making LOT Coin one of the fastest Cryptocurrencies as of today.
 

LOT Coin retargets the difficulty with each block being mined as opposed to Bitcoin. This allows for controlled difficulty of the mining process and how many coins are being mined at each point in time, it also prevents strip mining which is essential to controlling the value of the coins.

Right now LOT Coin is taking the Cryptocurrency world by storm, with many developers are already adding LOT Coin to their projects along the side of bitcoins.

While new to the trading market, the coin looks like it will be changing the world of online payments. There are some whom may not believe it, but the flexibility and security of cryptocurrencies is where the future is headed. The new system is still figuring out its place online but cryptocurrencies are here to stay and right now they are hot for those who know the rewards of investing early.

Source:  http://groundreport.com/lot-coin-a-new-crypto-coin-to-compete-with-bitcoins-as-online-cryptocurrency/