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Why would they need the actual coins to allow trading? Only transferring would require access to a wallet.
Seems like selling qualifies as a transfer, no? I think you can still receive and send LTC to other wallets, you can't convert to USD.
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.
Does one cryptocurrency increase 20x in a month? Then yes, it's a bubble, and it will likely crash pretty hard in another month or two (but probably not as much as it rose).
Does it increase 20x in a few years? Not necessarily a bubble because its value may simply be related to its adoption and potential.
The thing about cryptocurrencies is they have rather limited supply once they are launched on the market. So if their userbase/number of adopters increases by 10x overnight, and most of them intend to keep those coins, then it doesn't really qualify as a bubble, even if the value explodes.
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.
I've just went by the link (never visited that site before) and it says "THIS REQUEST HAS BEEN RATE LIMITED You're making too many requests to our servers from this computer..." immediately.
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Anecdotally, this weekend I've seen 4 (non-technical) friends throw $500 - $5,000 into the three CoinBase coins this weekend, all individually. Before this weekend, they were merely familiar with Bitcoin but no interest in investment, and they did not know what alt coins were. All it takes is for someone to see the hockey-stick growth on the coins to want in. It's too exciting to pass up. The atmosphere is "If I lose…
I think the really difficult part might be figuring out when to take it off the table. For example, let's say bitcoin goes up 10x. Then do you decide to sell, because it might crash back down the next week? But what if you miss out on another huge increase by selling?
I've just went by the link (never visited that site before) and it says "THIS REQUEST HAS BEEN RATE LIMITED You're making too many requests to our servers from this computer..." immediately.
What is causing the sudden rise in litecoin?
In Litecoin's case it's also because it's one of the very few cryptocurrencies that has been adopted by virtually all exchanges, and it has faster transaction times than Bitcoins (for which transaction times and fees are a big problem currently, after the big recent influx of users/investors).