Is Bitcoin the best Long-term Hold? - page 24.

Panchum

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Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

Yes bitcoin is good for a longterm hold,many bitcoiners proven bitcoin to give us a new life.Long term profit is only for those who have savings of bitcoin. Because bitcoin holders like me is just for a short time because when l don't have money l can sell my bitcoin for emergency needs of my kids.Bitcoin only is my hope to give the needs of my kids. I have three kids studying so l can't hold a long term for now. Although l want it too, but l know l can save for my kids future.

CryptoEnthused

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Quote from: minhnguyen on February 22, 2018, 12:56:03 PM

ETH in my opinion.
now 1 btc = 11 eth
next year 1 eth = 11 bitcoin

No way. That should drive the ETH price to 100k+ if BTC held constant to make your prediction come true. That can happen only in case if BTC fell 10 times and ETH grew 10 times within a year. Very unlikely. I think that BTC and ETH are equally the best holds.

gamerfan

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Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

You made a good analysis. But coins can co-exist. So maybe in the future Bitcoin will be used more as a store of value, while other cryptocoins will be used for daily transactions.

BettingTips

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Bitcoin is the first cryptocurrency in crypto world and it's being the king of crypto world so I think it's the best cryptocurrency to hold for long term. But for now I think price of Bitcoin is a little bit high so it's really hard for investor or holder with small amount of money to buy huge amount of Bitcoin that why there are a lot of investors or holders choose another cryptocurrency also has very good potential with lower price than Bitcoin to hold for long term like ETH or NEO.

BatuhanU

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I think that for the following years, bitcoin will still be leading the market. The main advantage it currently has is that it was the first, the brand-recognition(People think of bitcoin when you say crypto-currencies), and that its the coin you use in order to enter the market of other coins.

Currently, some alt-coins definitely provide a advantage over using bitcoin(transaction time & fees), but if these do get improved with bitcoin, it will probably be leading for a long time.

If you believe that cryptos will be successful in the long term, you should probably try to invest in the top 5 coins, according to m.cap, adjusting every week or month, so that even if bitcoin is replaced by other projects, you will still end up gaining if cryptos are successful.

HappyMod

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As mentioned before, bitcoin used to be the best long-term hold. Here are some things to keep in mind:

1. Bitcoin was the first cryptocurrency, many people know the word bitcoin before they know the word 'cryptocurrency'. This will most likely continue for a while, but the word 'cryptocurrency' becomes more and more known.

2. Bitcoin is the first cryptocurrency, once again. This does not mean it will remain market leader, Google wasn't the first search engine either. The technology of bitcoin has a lot of less functions compared to other/new cryptocurrency.

3. I've read much about Ethereum here, and I ordered a book about Ethereum myself. After reading this, I got a much clearer vision about what opportunity Ethereum gives to the blockchain world. Personally, I think bitcoin won't remain market leader this year and it will either be Ethereum or Cardano leading (or one that we might not have heard of yet).

Always make your own decission regarding investments, my best tip would be to read yourself in, after all reading and personal opinion often lead towards good knowledge and a decission that gives you satisfaction. In my case, Ethereum feels much more safe than Bitcoin to me.

bitcoin31

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For me until now is good for longterm investment but invest only you can afford to lose incase the price decrease you can buy more. You can try to buy also ethereum and litecoin it is good also this two coins for holding for longterm.

1Referee

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Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

Bitcoin is the ultimate crypto currency that is far ahead of the rest, and will remain far ahead of the rest. You shouldn't look at altcoins being faster and cheaper than Bitcoin. In most cases altcoins offer cheaper confirmations than Bitcoin because of their lacking network usage. Bitcoin's increasing fees are a sign that the demand for block space has greatly exceeded that what is available, which in my opinion is a good thing. Admittedly, the negative side of this is that the fees have gone up considerably in the last months/year. If you are aware of LN's capabilities, fees and confirmation times if you want, will not form a problem anymore once fully deployed. LN will be the downfall of the major part of the redundant altcoins that this market counts, that's for sure.

bitctrimor1

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Quote from: lite on February 22, 2018, 02:31:33 PM

Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

Without a doubt bitcoin is a long-term investment, bitcoin isn't going anywhere, it's just getting started. with LN we'll have faster and cheaper transaction, although it might not be the perfect solution, but i believe there will be other solution to scalability. i'm in for long..

You know you can have a diversified portfolio, no one is saying you to go all in bitcoin. Wink

I agree. I think it is more fit as a long term investment because of its value and the way it moves. Bitcoin is high value, but it also has more chances of experiencing dumps compared to other coins in the market with a small window of massive growth. Like what happened last year, the window when it grew was only about two months in the whole year, thus, if you won't seize that chance then you won't be able to capitalize on any investment using Bitcoin. So, when you get some of it in your portfolio, it should come with the acceptance and patience that you would need a long time before you realize its return.

dothebeats

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With the way things unfold currently, yes, bitcoin might be the most viable (and safest) coin to hold long term. More and more people, including governments, financial institutions and other large names in the economic and financial industry is checking out on bitcoin, particularly its blockchain technology. Multiple regulations have also been placed to protect people from being scammed, so that is a plus. Compared to the situation of the Dow, gold, oil and other traditional assets, bitcoin is in a pretty good shape. While that isn't enough basis to go all-in for bitcoin, it still is sufficient facts to get some paper going down the way of the coin for long term.

Quote from: Kaller on February 22, 2018, 02:48:06 PM

This is a given. There isn't a single crypto even coming close to overtaking Bitcoin right now. So the answer is a clear yes!

ETH is a really promising coin, tbh, and that is coming from someone (me) who never owned a single coin of that in my entire crypto lifetime. With the way how ETH is utilized, I can see that big investors also have a keen eye on that coin, particularly its dapps which already produced numerous interesting projects.

aardvark15

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Bitcoin could be the best long term hold in terms of risk. With Bitcoin being the most well known and most tested coin, it will likely not go away. I think it is a more reliable store of value than any other coin. That doesn’t mean that it will be the most profitable coin. There are probably several or maybe many other coins that will have greater returns over the next year, but no one knows for sure which those will be.

Kaller

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This is a given. There isn't a single crypto even coming close to overtaking Bitcoin right now. So the answer is a clear yes!

Tactical Genius

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Well,Given the fact that there appears to he growing concerns by different governments on the growth of bitcoins and other cryptocurrencies,I think eventually with time,there will be regulation of Bitcoin which will cause the price to come down eventually,so for now a long term hold for Bitcoin wouldn't really be advisable in my opinion.

dunfida

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Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

Its your own choice on which way or path you would decide to go or proceed.When you do pertain on holding up alts then its your decision since its your money after all but we cant really change the fact that dominance of bitcoin is still higher compared to alts inspite to its flaws which can really be covered up by some altcoins in the market but yet the community to still decide to make engagement with it without any doubts and tending to hold it for long term.

Finestream

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Quote from: player514 on February 22, 2018, 01:42:53 PM

Quote from: minhnguyen on February 22, 2018, 12:56:03 PM

ETH in my opinion.
now 1 btc = 11 eth
next year 1 eth = 11 bitcoin

Bold statement without any backing. Typical response on these forums.

I don't think you should take your chance with altcoins. Bitcoin currently and will (for a while) have the largest market cap because it's simply the coin that people know of. The amount of people that know about bitcoin versus ethereum is likely not even close. Even if those people were to know the both of them, there's even a higher disconnect between the people who know how they work and those who don't. If a new investor sees bitcoin, a coin that he/she has heard about from her friends, coworkers, news, etc., and then sees ethereum which doesn't have as much of a market presence, I'm sure the investor would go with the safer choice, which is bitcoin.

I'll go with bitcoin too.Even from the start,i'm confident enough that i had never made a mistake in choosing which coin to invest.Of course i'll go with the most trusted coin the market,nothing beats bitcoin.I believe bitcoin is the best coin fitted for a long-term hold not just of it popularity alone,but mainly because of its stunning price that anybody could be interested.Plus the fact that its very volatile,it only adds to the excitement of all holders.

lite

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Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

Without a doubt bitcoin is a long-term investment, bitcoin isn't going anywhere, it's just getting started. with LN we'll have faster and cheaper transaction, although it might not be the perfect solution, but i believe there will be other solution to scalability. i'm in for long..

You know you can have a diversified portfolio, no one is saying you to go all in bitcoin. Wink

squatz1

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Out of everything in Crypto, yes without a doubt (this is my opinion) Everything else in Crypto at the moment (besides ETH, and XMR) are coins that really have no purpose at all. They're not doing anything, and they're only priced high due to people just pumping the shit out of them through trading and the fake news.

So yes, if you're here for the super long haul just stick with bitcoin and you'll MOST LIKELY do good in the long haul. Goodluck!

player514

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Quote from: minhnguyen on February 22, 2018, 12:56:03 PM

ETH in my opinion.
now 1 btc = 11 eth
next year 1 eth = 11 bitcoin

Bold statement without any backing. Typical response on these forums.

I don't think you should take your chance with altcoins. Bitcoin currently and will (for a while) have the largest market cap because it's simply the coin that people know of. The amount of people that know about bitcoin versus ethereum is likely not even close. Even if those people were to know the both of them, there's even a higher disconnect between the people who know how they work and those who don't. If a new investor sees bitcoin, a coin that he/she has heard about from her friends, coworkers, news, etc., and then sees ethereum which doesn't have as much of a market presence, I'm sure the investor would go with the safer choice, which is bitcoin.

solarion

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Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

These above are not a virtual form one, but i don't how you compare bitcoin with the mobile manufacturing companies. If any country comes banning proposal of concern brand phones. It will not evolve in that country.
But bitcoin cannot stop by anyone.
Bitcoin will be always a iPhone whatever coons it will be top in the market.

pissyas

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Quote from: peter.from.penn on February 22, 2018, 12:51:52 PM

I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?

We can see that bitcoin is suffering from bad news continuously, bitcoin prices are falling continuously in the last days, despite slight but slight recovery. I think that at the moment we should only trade bitcoin rather than bitcoin because the bitcoin boost is extremely low, maybe even backward. If you buy and hold at this point it is very risky.

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