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Litecoin volatility is back


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Litecoin volatility is back

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  #1 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
Thanks: 33 given, 377 received

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

http://www.litechain.info/address/34Ae29qWAhGGTw3cSNkPygiwsgKbbCatou?from=@

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!"

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  #2 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
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Around $26 after a run up to $36. Volatility is back...

Also LTC is more inventive and flexible than BTC due to the SegWit implementation.

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  #3 (permalink)
 suko 
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Can you explain the significance of Segwit?

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  #4 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
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"What this means is that the block size is actually increased. SegWit counts each byte in a witness as 0.25 bytes towards the maximum block size limit (1MB), meaning the maximum size of a block becomes just under 4MB. This doesn’t mean that the data gets smaller, it simply means that it is counted in a way that allows for the 1MB limit to be increased. "

https://www.cryptocompare.com/coins/guides/what-is-segwit/

"The most evident benefit to SegWit is a capacity increased that is introduced in the form of a different transaction format. However, there are also other benefits to SegWit, which are outlined here. This includes increased security for multi signature transactions, linear scaling of sighash operations, script versioning and more.

However, fixing transaction malleability issues is the most important of these."

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  #5 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
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LTC is up 50% in less than 2 days around $44, due to, well, your guess is as good as mine. Some says BTCers want to sit out the Aug 1st deadline of SegWit implementation and they chose LTC. Who knows?

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  #6 (permalink)
winmorepips
thailand
 
 
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is it a good price to buy litecoin now ? looks like a bit high now.

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  #7 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
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winmorepips View Post
is it a good price to buy litecoin now ? looks like a bit high now.

Depends on what your general crypto outlook is. LTC is high because BTC is at ATH. If you believe in them this is as good time as any...

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  #8 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
Thanks: 33 given, 377 received

BTC is up 17 times YTD. Not bad. But LTC is up 51 times YTD!!!

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