Quote: (05-24-2019 10:17 AM)rpg Wrote:
Quote: (05-24-2019 07:15 AM)jeffreyjerpp Wrote:I am 100% in agreement.
Quote: (05-23-2019 11:15 PM)MrLemon Wrote:
For example will your BTT go up 10X for Bitcoin's 2X? Will your BTT go up 20X if bitcoin goes up 4x?
Or will these jump, then the investors get lured by some other coin, so they lose steam and falter? That's very hard to deal with and will distract you from the steady upward trend of the big coins.
That's my opinion.
I got caught up in the hype train in 2017, and thanks to this last upwards pump am back to being positive in crypto again.
A promise I made myself was that I would only dollar cost average into BTC from now on, that's it. No short selling, gambling on alts to pump extra, using sketchy exchanges to find leverage, etc.
And it's truly made me much happier. If/when BTC hits 100k, I will have made an absurd return on investment, without the worries or distractions of pump chasing.
Not for everyone, sure. But I think probably the safest way to move forward and enjoy the gains for most.
Even though historically I have been quite the stickler for guys attempting to largely stay on topic in this thread in terms of attempting to make their posts related to bitcoin, rather than going on various tangents that seem to be merely pumping or dumping other cryptos or making some kind of ambiguous insinuation that bitcoin is somehow the same thing as other cryptos, I am NOT against any guy's practice to figure out ways to either earn dollars or bitcoins by investing in various other cryptos.
Personally, I think that my thoughts might have evolved in various regards, except I have never really concluded that any other crypto coin or project has any long term advantage in comparison to bitcoin, and at the same time, I have considered bitcoin as the leader of the crypto sector, so any other investment in the sector, whether ethereum, some variation of bcash, some other alt coin or various ICOs (even if they might be called something else), largely you are just adding one more layer of risk onto an investment area that is correlated to bitcoin.
In any event, when I suggest that guys consider engaging into a long term investment of bitcoin that involves dollar cost averaging, buying on dips to accumulate, holding through BTC price corrections, and taking relatively aggressive measures to establish an initial stake in bitcoin, these suggestions presume that bitcoin in the longer term bitcoin is going to at least be worth more than it is today and likely to provide a return on investment that is likely to be greater than the vast majority of traditional investments.. So in that regard, guys should be able to bank some kind of comfort that if they invest in the 1% to 10% arena of their total investments that they are not engaging in unreasonable risk.
Of course, with any other cryptos, there could be decently sufficient justification to invest to earn money, but since since some of the considerations are somewhat different in terms of figuring out the degree to which those other projects are differentiated from bitcoin or can actually add something of value, perhaps in spite of some of the increased centralization that they all have as compared with bitcoin, and surely none of them really come close to bitcoin in terms of sound money, but some of them might be attempting to build on bitcoin rather than proclaiming either they are bitcoin 2.0 or proclaiming to have some kind of futuristic niche that may or may not be actually justified in terms of either facts or logic.
So, yeah, there is both the actual financial risk, and whether that is justified to invest in other projects and there is also some of the mindshare, in terms of having to spend a decent amount of extra time and energies to figure out whether various alt coins add anything to your investment, versus just focusing on bitcoin, and bitcoin surely has enough ongoing activities and developments to keep almost any guy busy who chooses to look into bitcoin and to attempt to stay abreast of bitcoin developments - even if some of the developments happen to be watching various likely ongoing attacks and how they might be rebutted and/or accounted for in terms of bitcoins ongoing value proposition and whether bitcoin might be deviating from its sound money path - which so far, I have not seen bitcoin deviate from such sound money path - even while arguments are constantly made about various ways that bitcoin has supposedly deviated from such sound money path.