Ok I cringed when I read you wrote LMG is LEGENDARY Machine Gun.
LMG is Light Machine Gun which are those that are man portable aka a single person can carry and fire it. Classic LMG in real world is the M60 which was often used in Rambo movies. In today's US military the M60 is now replaced by the M240B. To be honest though you could stand and fire it, the recoil would make it way too difficult to hit anything which is why they are fired from a prone position or a tripod.
HMG is Heavy Machine Gun which are mounted and not able to be carried and fired by a single person. Classic MG is the 50 caliber or even the 30 Caliber which are usually mounted on a vehicle like a truck or tank in movies. Another is the Vulcan cannon aka Gatling Gun which is the 6 barreled weapon in terminator 2 and predator 1. The weight of the weapon, recoil and the weight of anmo makes it impractical to carry.
Edit: The "heavy" weapons used in Destiny are LMG.
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It is called a heavy machine because it is a heavy weapon and it's a machine gun so hmg.
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I suppose we also use heavy rocket launchers, and heavy swords.
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The weapon slots in destiny have nothing to do with the name of the equipped gun. That's why you can have special and primary snipers and shotguns, and primary, special and heavy fusions. The fusion is really the only one that is different, because the ss is considered a heavy fusion. But there's not a single gun in the game that is actually called a special.
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I was kidding about the heavy slot thing I know a hmg is supposed to be mounted and that I weighs about 20 pounds and I know about no land beyond and universal remote that are specials but are in the primary slot. sorry for the confusion.
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The M60 and M240B are not LMGs. They are GPMGs or MMGs. They are rarely effectively fired by a single person, it requires 2 to operate both at peak performance due to ammo control and barrel swaps. An LMG would be the M249 SAW. The M2 is a HMG yes but the "Vulcan" is classified as vehicle mounted machine gun. It would be IMPOSSIBLE to shoot it any other way, not just impractical. It's 248 pounds with out the feed system or ammo. That's why it is exclusively used on aircraft.
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The m61 Vulcan would be considered extreme heavy machine gun considering it is a 20mm chain cannon typically mounted on fighter jets. The GE m134 Gatling gun seen in the movies is a totally separate gun.