Can somebody explain Bitcoin and Litecoin and perhaps some of the others in easy to understand terms?

I just bought some Litecoin today because my friend who's made at least ten times his money in the last year or two reckons that's nice and cheap at the moment, relative to how much it's probably going to be worth, considering it's an offshoot of Bitcoin or something. He tried to explain it to me,... show more I just bought some Litecoin today because my friend who's made at least ten times his money in the last year or two reckons that's nice and cheap at the moment, relative to how much it's probably going to be worth, considering it's an offshoot of Bitcoin or something.

He tried to explain it to me, block chains and cryptos and all that, I can't say I get it, but I do understand one thing, it's made people rich over the last ten years, and if I had got in early, I would have been rich, so I got three hundred worth of Bitcoin today, at fifteen thousand a coin, and five hundred worth of LItecoin at about a hundred a coin, and I'm just sort of wondering about the short and long term prospects, not that anyone can really say, but also why people want them, and how likely it will be that they put in vastly more sums of money, because the graph over the last four years for Bitcoin looks like a huge curve up. through the roof, and I bought when it was high already.
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