We forget that bitcoin is the unversial way of getting in and out of any other crypto. This will always create buying demand. Bitcoin is the cryptos dollar. The more stable it becomes the better, slow appreciation over time.
Yes steem will do very well, and I am very invested in it, but I hold Bitcoin as well for its stability and slow appreciation. A long term savings account.
I think that bitcoin's universal status will eventually fall. And the moment it does, so will it's value. That's really it's only saving grace these days.
Anything is possible, but weighing out the probability of that happening and assigning a value to that, its really low compared to the benefits it still offers. There are a lot of data points that go into something like this. Newer cryptos are very new and we've seen flaws and the like time and time again.
Mind you, I have a very diverse portfolio of cryptos but at the same time I think Bitcoin will always be the universal.
I am biased of course, so take my words with a grain of salt.
Also, pleased to make your acquaintance :) It's interesting reading your posts. I'm a geek, but my dad is an ex-con. He was in prison for 13 years.
Thank you :) Ill follow you as well