With btc being the base of almost all crytpo transactions its hard to really think we do need other coins. I bought thc because Ive seen what hype can do to coins. Xrp for example. I was able to buy in at around .03 and turned 298 into $550 or so. I pulled the plug early but could have rode out to around 1,200 usd where it is now around .23 cents which could have my account around 2,000 plus. (This is why I am holding long term now) Also for the fact that other countries are picking alt coins that they are basically backing instead of BTC. Which tells me there will be more room for other coins. Just gotta find the ones that are valuable like the ones I mentioned above and hold. Ive seen coins move with the price of btc as well. If you can specualte 5-10k for btc, all other coins with value and tech behind them will increase as well. Might as well be able to buy at low satoshis and ride out before the masses start buying ;) hoped that helped and Id like to stay connected with somebody that asks questions like yours!
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Good answer, and actually can't say anything against it but I may try to switch the focus point :) just for fun of course.
The model you presented seems quite linear, BTC allows payments, new coins are created with the same algo, everything goes up, we make money.
But what if, people develop different blockchains such as IOTA, ETH and only the strongest crypto per purpose survive; in payment case, BTC. In this case your long term strategy will fail and therefore it is better to go only on pure speculation and max middle term.
Does it make sense what I've written?
BTW totally agree! I started following you so hopefully we can exchange thoughts and investment ideas :)
I also have bought coins to ensure I can get out with very nice profits at only $1 a coin. As for the different blockchains you have mentioned, I do see a major pull back that will allow us to buy ETH at around $100 Which I see as a valuable coin with their smart contracts. So at that point is when I hope that point is reached of the strongest surviving. As far as my long term strategy, No matter which way it goes atm I am invested enough to pull half out when I feel necessary and will let the rest sit as Itll be no loss to me if they take a dive because Ive extracted more than enough profits.Ff they continue up I will be feasting lol. Anyways It is time for bed for me. Very nice to meet you!
As far as investment ideas.. any time!
Seems like you are using an anti-FOMO strategy really similar to mine :)
I 100% agree with your analysis, and I really hope to see ETH back again at $100, that would totally make the FOMO Fans running away.
Cool! We are totally in the opposite side of the world in this case, here in Singapore is 5pm. Have a great night and pleasure to meet you!
That day will come ! Anti fomo huh? That sounds about right.. a pastor I watch has his church there. Joeseph Prince if you've ever heard.
mmhhh not really to be honest, but thank you for the information :) I will take a look in this case!