If you pick good alts and both bitcoin and your chosen alt coin increase together, you get magnified profits above that of bitcoin alone if i'm not mistaken.
Of course you can't rely on these two independent events aligning, but it seems to me that the value proposition of strong alt coin in a market in which bitcoin is climbing is superior to investing bitcoin alone.
e.g. Say chosen alt coin is at
0.1satoshi's with a bitcoin price of 10K = for 1 coin
0.1 x 10K bitcoin = $1000USD
If bitcoin climbs to 20K you double on bitcoin if you're invested in it, but if you're in an alt that also doubles you get a squared result
0.2satoshi x 20K bitcoin = $4000
This is how i understand it anyway...am i correct or am i missing something?
Cheers for your post.
Your analysis is correct...but always invest wisely :)
Cool....
I hear you on the wise investment tip.
Quick question
Obviously I'll invest all my life savings + those of my family members...but should i base the trade decisions off darts? Or should i just go large and get the full 'octopus that can see the future' set up?
Only invest what you can lose.
So....the clairvoyant octopus?
Haha, I'm just playing around. I nominated a very small % of my savings to invest initially, I've tripled my investment and pulled out most my starting money now, so yeah. It's all good. Cheers.
Awesome! You are doing it right my friend!