Originally Posted by jbmayes2000
Alt Coins, the scrypt mining stuff. LTC is the most stable of those (even though it tanked because of BTC rise)
All the alts tanked because of the BTC rise. But it's a temporary situation. Just a bad time to sell alt's right now. It happens, no biggie.
Notice how even though the value of LTC dropped rather noticeably, the difficulty has INCREASED significantly anyway? Meaning that there are now more miners on that coin? That means that there are less miners on other alts. In the hard time like this, most people switch to what is more stable (more likely to bounce back). With the increase in LTC difficulty this will naturally drive the price back up, restoring the balance. At the same time, with fewer miners on the smaller alts, that brings their difficulty down, so the profitability of those coins will remain somewhat constant too.
This is a good time for smart miners that are good at choosing which coins will succeed. With the difficulties down, it's possible to rack in way more coins than normal. Then just wait for the value to return for a big payday. It's risky though, because some small coins can die off completely, if the trading volume drops too low...
Edit: Oh yeah, that's if the bitcoin value stays consistent. Which it won't. It'll drop down below $100 again before you know it. Before it rises again. and drops again... etcEdited by wedge - 9/3/13 at 5:52pm