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Topic: Bitcoin vs Altcoins - page 3. (Read 501 times)

newbie
Activity: 12
Merit: 7
August 17, 2021, 09:22:03 PM
#3
As for the plethora of altcoins out there, and, in particular, the few that I own, I worry about the long-term future of their viability. At the time of this writing, it seems as if the sky is the limit and these projects are not only growing, but here to stay. However, things aren't always as they seem and I'm starting to wonder if it may be more prudent to dump and invest solely in BTC which I feel provides the most benefit to society and potentially has the most durability.

I wouldn't say it's prudent to dump altcoins and invest only in BTC.  Diversification is important always in investing.  Bitcoin is the King though, and if you are holding over the long term I can't think of a better coin to put your money in.  That being said, a little exposure to coins like ETH & BNB that can provide revenue through staking isn't a bad idea.  Coins that offer exposure to liquidity pools like CAKE & UNI are another great way to provide some revenue for your portfolio.  Additionally, you can use platforms like CoinEx to provide your own liquidity pair of coins you choose to deposit.

I guess my point is that crypto is full of cool stuff if you look around for it.  Holding is great, but remember to keep some coins to actually use as well.  If you're buying altcoins and not using them, that's when I'd be worried about their value going to zero.

My investment method is to hold Bitcoin for a long time. I will also choose some altcoins (I will not put eggs in a basket). For the choice of altcoins, I prefer the DEFI sector, and I will not touch contracts , Use leverage, etc. My method is very simple. The profit rule I set is to rise 10 points to meet my psychological expectations, and then sell.
donator
Activity: 4760
Merit: 4323
Leading Crypto Sports Betting & Casino Platform
August 17, 2021, 07:37:36 PM
#2
As for the plethora of altcoins out there, and, in particular, the few that I own, I worry about the long-term future of their viability. At the time of this writing, it seems as if the sky is the limit and these projects are not only growing, but here to stay. However, things aren't always as they seem and I'm starting to wonder if it may be more prudent to dump and invest solely in BTC which I feel provides the most benefit to society and potentially has the most durability.

I wouldn't say it's prudent to dump altcoins and invest only in BTC.  Diversification is important always in investing.  Bitcoin is the King though, and if you are holding over the long term I can't think of a better coin to put your money in.  That being said, a little exposure to coins like ETH & BNB that can provide revenue through staking isn't a bad idea.  Coins that offer exposure to liquidity pools like CAKE & UNI are another great way to provide some revenue for your portfolio.  Additionally, you can use platforms like CoinEx to provide your own liquidity pair of coins you choose to deposit.

I guess my point is that crypto is full of cool stuff if you look around for it.  Holding is great, but remember to keep some coins to actually use as well.  If you're buying altcoins and not using them, that's when I'd be worried about their value going to zero.
newbie
Activity: 6
Merit: 16
August 17, 2021, 07:15:08 PM
#1
Greetings,

I just finished reading the Bitcoin Standard and am seriously considering restructuring my crypto portfolio as a result (not solely as a result of the text, but due in large part to it--I have other reasons which revolve around a fear of the effects of gov't regulation on the market). Since late 2017 I have been faithfully DCAing into BTC and 5 other projects that I have been able to research and understand as best I can. I've always been somewhat troubled by the centralized nature of some of these ALTs (ETH, ADA, LINK, DOT, ATOM) relative to BTC, but I invested anyway believing that these particular projects will have a strong role to play in the spheres of smart contracts, DeFi and overall blockchain tech adoption in the economy, generally.

So my thinking is to dump my altcoin holdings for BTC and continue DCAing into BTC only; (also feeling a srong desire to become a node operator in order to do my small part to protect and nurture the network as an aside). Bitcoin was my first love in the world of cryptocurrencies back in 2017 when my brother told me about a somewhat obscure digital form of money trading for a price in the low 4-figures; I dove in immediately based off of his brief description of it to me and a few articles that I had read. Immediately I was drawn in because in my mind it represented an alternative (and a giant FU) to the only real game in town, namely the almighty US dollar which has been in a state of decay for decades as a result of mismanagement. Over the years I have researched further which has only served to reinforce my belief in BTC and what the network stands for. Truly, we are all privileged to be living in a time where such a revolutionary concept has been gifted to humanity.

As for the plethora of altcoins out there, and, in particular, the few that I own, I worry about the long-term future of their viability. At the time of this writing, it seems as if the sky is the limit and these projects are not only growing, but here to stay. However, things aren't always as they seem and I'm starting to wonder if it may be more prudent to dump and invest solely in BTC which I feel provides the most benefit to society and potentially has the most durability.

 Anyways, any feedback is appreciated. Call me a crazy bitcoin maximalist, tell me I'm making the best decision possible or anything in between
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