It's a pump and dump. A month and a half ago the pump of the month was Mintcoin and Vertcoin.
There's nothing special about Blackcoin at all and here are the reasons
- Faster Transaction speeds ~ a lot of alternate coins can claim this too
- Proof of Stake. Old mechanism ~ Peercoin, NxT and other coins have had this for ages
- Bitclone (the client is a reskin of BTC)
- Distribution. Top 100 wallets own the majority of Blackcoin.
- Novelty merchandise
I know the Bagholders and Whales will say I am a naysayer but there's absolutely nothing here to push Blackcoin into the $100+ million capitalization and let alone to keep it there.
Litecoin was a fluke, in part due to the dumb funds who missed out on BTC and threw money on LTC, and it's not likely to be repeated since those funds have since learned their lesson and realize they sit on worthless LTC coins.
You do realize there is life outside of BTC right?
LTC was the positioned alternative to BTC, now all other "alts" are the alt to BTC and LTC, about a month ago when BTC was going down, LTC decided to go in a differnt direction (people moved their non performing BTC $$$s to LTC), up, up, and up. But as soon as BTC made tracks back to the profitland the btc believers returned. Now we are back to the same situation except this time BTC, and LTC has gone now (most others too) so what do CC speculators do, they look down the Market cap list, they look over the list of other CCs, and they start to examine other charts to see which are ripe for picking. That's how so many "alts" get action, when the big guys fail to perform.
As new CC player enter the market they won't know BTC as the one and only, they will simply just know it as the biggest/oldest, but they will be accustom to seeing BTC as much as LTC, DOGE, Ripple, NXT, PPC and a host of others. Once there is a fiat to alt coin exchange (I thing there are some beta) with the strength of a Coinbase you will see tremendous competition on a primary level not just a secondary level (buy BTC with fiat to get alt).
Yes, all other clones didn't work, but THIS clone will replace both LTC and BTC
Now go buy on top of the bubble
Something's going to replace LTC. Or maybe LTC will just slowly dwindle, I don't know. Someone make a case to me for Litecoin's long-term existence because I'm not seeing it.
I don't see its' long-term existence either but I'm not seeing a replacement, either. Litecoin was a huge fluke and it was funds, who missed the BTC train, who pumped it to that valuation (there were several days when LTC volume exceeded BTC) and
now they're stuck with essentially worthless LTC (can't withdraw it without killing LTC).explain further what you mean there