In the long run there is probably room for even more than two crypto-currencies, as long as each of them is unique enough to have its own set of advantages and

In the long run there is probably room for even more than two crypto-currencies, as long as each of them is unique enough to have its own set of advantages and disadvantages. Litecoin however is merely a fork of Bitcoin with changes to a few trivial properties, I can't imagine it ever gaining as much traction as Bitcoin itself.