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A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
Do you have evidence for this or have an idea of how many people have/are doing this?
A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
issue resolved. :D
They're pretty good at scaling to meet that crazy demand
A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
Do you have evidence for this or have an idea of how many people have/are doing this?
98% of their funds are stored offline in a cold wallet. I bet they exhausted their hot wallet supply. https://www.coinbase.com/security?locale=en-US
Earlier quoted context omitted.
My guess is that the there are a lot of newbies now on Coinbase (#1 app in the Apple AppStore). They are buying the cheapest “bitcoin” without actually understanding what they are buying. This has increased demand for the cheaper of the only three options in Coinbase thus increasing price.
Yes, and I've cashed out handsomely as a result of being lucky enough to predict exactly this. For clarification: I bought some $1000s worth of LTC when it was under $100 shortly after the Futures news hit. It was pure gamble on my part and I could have easily lost instead of the other way around. I also bought a few ETH coins when it was around $400 but haven't cashed those out yet. I'm predicting my LTC gains will…
A lot of emotion with LTC. People are downloading Coinbase and buying LTC simply because it is the cheapest on Coinbase. This is definitely a bubble, really cant deny that anymore. All emotional, non-rational behavior.
Nothing new, markets are never rational
What is causing the sudden rise in litecoin?
Can someone familiar explain why cryptocurrencies aren't a bubble? They both seem to exhibit similar characteristics. Clearly, are shown by the site here, these aren't nearly as liquid as fiat currencies, nor are they really used to purchase anything. So... What is it? EDIT: upon thinking about it, MLM wasn't the term I meant.
I bought BTC to use as currency for transactions not as an investment. It should be used for that purpose. MLM only has one purpose - to recruit others into it. I don't ask other people to buy BTC so I can make a profit. MLM usually has a pyramid commission structure.
That said, I can see a future for it if something like lightning network ever gets released (and actually works).