Seriously guys, today the altcoins section has finally turned into a casino
This massive upward trend in all altcoins...and then these people already trading this shit bytecoin
Not that I dislike this, I hold a nice amount of coins as well and my wealth more than quadrupled during the day, but this is hilarious, just cant stop laughing looking at the exchange rates, which go up everytime I refresh.
But remember, most of the altcoins, even litecoin, are not backed by any substantial business. If you look on dustcoin.com the profitability is just out of competition, why should anyone buy ltc when he can buy a mining rig which pays itself off in 2 weeks
When you look at the ytd chart of ltc:
http://www.cryptocoincharts.info/period-charts.php?period=ytd&resolution=day&pair=ltc-btc&market=btc-e you will realize that this is a massive bubble, very much the same like the first massive bitcoin bubble.
Nevermind the crash, I hold my coins as I have longterm confidence in some altcoins, but this is just hilarious, enjoy yourself today and know what you do with your hardearned money. I will just get myself some popcorn.
