i think that those
who tell you that only btc will perform
give you bad advice
you will be very disappointed if you listen to those people
Discussion
I save in Bitcoin.
I invest in Bitcoin companies.
bitcoin does not need companies
companies defy the purpose and mission of bitcoin
What do you recommend instead of bitcoin and why?
monero for privacy
litecoin for fast payments with low fees and minimal privacy too
Sure but long term do you think they will outperform bitcoin?
Easy enough to swap into those coins if you so chose not sure they are good for long term savings.
Most people are not good traders so short term performance doesn’t help most. They will buy and sell at the wrong time.
i dont know if they will, maybe, maybe not, no one can say for sure, but i think many will widely outperform btc.
let's say btc goes 10x in a month, in a year whatever
i believe some crypto coins will go 50x, 100x
for obvious reasons i will not recommend any.
everyone can do his own research.
just saying over and over again that it is a casino when they do not know anything about crypto and do not understand it is very stupid. actually beyond stupid.
i saw the same idiots 1990 saying that the web will never be successful. some said that it was for children only, grown ups will never use it. i have heard a lot of idiotic opinions about it. even email. no one wanted to use it. i made money on the web and i will make money again on crypto.
crypto has a value and it is the future. this is a fact. it does not change a thing that the other fact is that 90% or more of today's crypto is a scam and will die.
Diversification <—> Concentration
I agree that I don’t think crypto is going away and yes every cycle some will outperform in a cycle but have any outperformed over 2 cycles? So unless you are skilled and have the time and resources to really understand your investment and when to enter exit it is tough to outperform bitcoin long term I think many got burnt holding coins which outperformed in short term the held to underperform and they would have been better just sticking to bitcoin.
long term we will all be dead. every one of us
in the next 1-5 years maybe.
no one knows what will happen after that
i believe bitcoin will survive all fork attacks and live forever(longer than we will be alive). there will be more attacks even on keys with increasing computer power.
monero should also survive in my opinion.
litecoin has a use value and it is actually used under the radar of most people. i hold litecoin. when i have to move funds from one country to another i use litecoin then put it to a bank in the recipient country or i buy btc or monero depending on what i can use. fees are much lower and there is no hassle like lightning and no risk losing it...
i personally will wait for those rallies of 100x maybe more and sell when it hits my targets. then buy bitcoin with it and some monero for private payments.
it is agreed that most people are unable to trade therefore it is better to analyze, buy and hold over 3-5 years. everyone can do that.
the better advice would be holding a portfolio of crypto which has value. value means that it is used by people or by companies and there is a positive outlook for more useage.
you always take risk when you buy something.
also btc has risk. fork risks, fungibility risks, privacy risks, keys risks and risks we might not even know about today.
i assume we are in crypto for freedom. also for freedom it is better to diversify a little. there is value out there and it is cheap. do your own research everyone.
one basic rule: do not be greedy
I’m with you on that 🤙🏻