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Litecoin is a peer-to-peer cryptocurrency in many regards similar to Bitcoin. That incidence and many other economic crunches of the world have led technology driven people and firms to come up with other methods of transacting other than banks. You can increase your claim amounts by up to 300 by taking advantage of the, daily Loyalty Bonus, Referral Bonus and, mystery Bonus schemes! You could have 200,000 in the bank, but you could not access. The bank as an intermediary has done its job in stabilizing the financial world and putting a central system in place, but the world seems ready for decentralization. A peer-to-peer network similar to Bitcoin's handles Litecoin's transactions, balances and issuance through scrypt, the proof-of-work scheme (Litecoins are issued when a small enough hash value is found, at which point a block is created, the process of finding these hashes and creating blocks. Complete Captcha, ref link: right Ad Slot. There are minimal charges when transferring Litecoin, but it does not compare to what the banks charge. The founder, Charles Lee, intended for the limit of the currency to be 84 million.
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