Quote from: St.Bit on November 08, 2013, 12:33:28 AM

Quote from: AnonyMint on November 07, 2013, 11:49:08 PM

I was actually thinking I should buy my own altcoin if it got too weak, yet I wouldn't want to be the only person buying it.

That's the way I feel about Yacoin at the moment. I woud say one actual problem of altcoins is that you could burn your self hard on them. Especially if when I realize how much these btc could buy me now.

There hasn't been a real altcoin bubble yet, but if too many people lost too much on alts they might stick just to BTC. Bitcoin had a nice crash from 30$, but there wasn't many lives destryed back then and everyone sticking to the plan got out nicely.
Altcoins will be different on that one.

I remember what happened to Jason Hommel of SilverStockReport.com when he owned a majority of the float in several penny (pinksheet) silver mining stocks and couldn't get out before and during the 2008 implosion.

So we can relate this to the additional risks of investing in penny stocks versus those listed on major exchanges. The golden rule is don't put too great a percent of your networth nor own a significant portion of the float in any one of these (unless you are very sure you know which one is going big).