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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!"
Can you help answer these questions from other members on NexusFi?
"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. "
"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."
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?
