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Litecoin volatility is back
Started:July 10th, 2015 (06:54 PM) by Pedro40 Views / Replies:377 / 0
Last Reply:July 10th, 2015 (06:54 PM) Attachments:0

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Litecoin volatility is back

Old July 10th, 2015, 06:54 PM   #1 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
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Posts: 492 since Jan 2013
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Litecoin volatility is back

Looks like the altcoins are more volatile than Bitcoin. Litecoin has just had a run from $2 to $8 in a month and sure it has just crashed back to ~$4, but it is moving way better in both directions than Bitcoin.

Supposedly there was some kind of Ponzi behind the big runup and following dump... The chart has the classic hyperbole....

Here is what most likely happened:

"22% of all LTC that has ever been mined recently ended up here

What an absolutely genius con, the best cryptocurrency scam in recent memory.
Buy me LTC and I'll pay you back more, while I trade the LTC in a very liquid BTC market. In essence, the ponzier is trading against his own rubes at a lesser rate but still making them give him enough litecoin to keep the price rising as he keeps selling it for more bitcoins, then he can just crash litecoin whenever he wants.
You have been LiteConned!"

Last edited by Pedro40; July 10th, 2015 at 07:24 PM.
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