The first point i will clarify is that, every investor or trader should be able to decide individually if bitcoin is real or altcoin is not. This is a personal conviction and believe.
I have friends that will never trade bitcoin, but buy for the long term.
And i have friends that do not like bitcoin, but get profits trading altcoins each day and getting profits.
And likewise, i have friends who do not like bitcoin or altcoins, but do binary trades.
Do your own research, and maximize or minimize your influence over either bitcoin, or altcoins.
Your capital, your decisions.
Topic: The biggest mistake Bitcoin maximalists doing !!! (Read 174 times)
Though mining is itself an industry that has its day to day expenses as well but i think they should have a proper strategy about when to sell or take profits, simply selling the daily mined btc irrespective of the price is a bit strange to me because with proper strategy there income and profits can really grow multifold.
Bitcoin and Altcoins form an ecosystem. No matter what happens, you can't just call them scam to protect the ecosystem. Sometimes you need to invest in those Altcoins even though it's so risky. This involves Whales of Platform coins too. As an example, Ethereum and Waves. Ethereum and Waves whales have to/need to invest in tokens under these platforms to make sure those platforms keep running and have enough liquidity. Let's take Waves into account. Waves whales need to invest and support Waves tokens more than users and newcomers because The more those tokens succeed the better the ecosystem works.
I don't agree with you on this one. At least when we're talking about Ethereum. I think that Ethereum network has enough good and already established tokens and ETH whales doesn't need to invest into Ethereum tokens just to keep the Ethereum network running. It will run without it because Ethereum tokens have enough trading volume on their own.
So you are saying bitcoin is getting less manipulated since more USD or stable coin pars starts to take the place of bitcoin trading platforms, but it is not going to take the price of bitcoin into ground that is why bitcoin whales move the coins very less compared to altcoin's.
Miners have no business in dealing with the manipulation, most of them will mine and sell, only who had more coins in the early stages are hoarding it and liquidate for the expenses.
Miners have no business in dealing with the manipulation, most of them will mine and sell, only who had more coins in the early stages are hoarding it and liquidate for the expenses.
The biggest mistake Bitcoin maximalists doing
Maximalists who mined Bitcoin early, invested in the early days, bought at $1-10 have too much confidence in Bitcoin but they miss a point; Disorganized Ecosystem is NOT Ecosystem.
What i notice that most Bitcoin maximalists think that Altcoins are scam. They don't trust any of them and they're radical. They miss the point, Bitcoin can't be store of value without Altcoins. What determines the value of Bitcoin is the existence of Altcoins and their usability. Everybody knows Bitcoin can't be a currency since its supply(21 Million max) is not enough for the population. That supply is certainly not enough for liquidity. Therefore, the only way out for Bitcoin is to become store of value and this is where Altcoins matter. However, it seems that all exchanges seem to forget Bitcoin. Most alts have USD pair and no one cares BTC pair anymore. One of the reasons is Bitcoin liquidity and this is where maxis need to step in. However, thinking that Altcoins are scam and they will lose money by investing in them, they make the biggest mistake by assuming Bitcoin will be the only survivor. This brings the liquidity problem and Exchanges try to fix this issue by opening USD pair for Altcoins. What those exchanges are trying to say is "If you never use your precious Bitcoins, we'll fix this by opening more and more USD pair for Alts."
As a result, Bitcoin price is declining and as it lost its chance to become currency, is about to lose to be store of value. A whale with 50K Bitcoin is afraid of losing his/her Bitcoins and doesn't invest in any Alt project starts losing value. This might bring the end of Crypto world. What's the purpose of someone who doesn't move his/her Bitcoins from $250-$20K and even after starts declining?
Bitcoin and Altcoins form an ecosystem. No matter what happens, you can't just call them scam to protect the ecosystem. Sometimes you need to invest in those Altcoins even though it's so risky. This involves Whales of Platform coins too. As an example, Ethereum and Waves. Ethereum and Waves whales have to/need to invest in tokens under these platforms to make sure those platforms keep running and have enough liquidity. Let's take Waves into account. Waves whales need to invest and support Waves tokens more than users and newcomers because The more those tokens succeed the better the ecosystem works.
While this lack of understanding might be acceptable for those whales, it's very sad Bitcoin whales are doing such a simple mistake. They let Altcoins getting killed by leaving those Altcoins alone and leaving no choice to exchanges to open USD pair for those Altcoins. Experienced and new investors almost stopped checking BTC pair and using USD pair by default. They don't care BTC pair anymore and this is getting more and more dangerous for Crypto.
If Bitcoins maximalists keep doing these mistakes, Exchanges will create more stable coins, open more pairs in FIAT and this is when Altcoins start decoupling from Bitcoin. It means that no more XXX/BTC pair, more and more XXX/USD pairs with liquidity and since Bitcoin is used less and less, it will take its value to the ground.
I hope Bitcoin maximalists and miners see their mistake and the stop the paranoia of losing their Bitcoin.
This article is not about price, is about value.
Original article in Turkish by https://twitter.com/AztecGoldHero
Translated by Myfranco
https://twitter.com/TechPursuitX
Maximalists who mined Bitcoin early, invested in the early days, bought at $1-10 have too much confidence in Bitcoin but they miss a point; Disorganized Ecosystem is NOT Ecosystem.
What i notice that most Bitcoin maximalists think that Altcoins are scam. They don't trust any of them and they're radical. They miss the point, Bitcoin can't be store of value without Altcoins. What determines the value of Bitcoin is the existence of Altcoins and their usability. Everybody knows Bitcoin can't be a currency since its supply(21 Million max) is not enough for the population. That supply is certainly not enough for liquidity. Therefore, the only way out for Bitcoin is to become store of value and this is where Altcoins matter. However, it seems that all exchanges seem to forget Bitcoin. Most alts have USD pair and no one cares BTC pair anymore. One of the reasons is Bitcoin liquidity and this is where maxis need to step in. However, thinking that Altcoins are scam and they will lose money by investing in them, they make the biggest mistake by assuming Bitcoin will be the only survivor. This brings the liquidity problem and Exchanges try to fix this issue by opening USD pair for Altcoins. What those exchanges are trying to say is "If you never use your precious Bitcoins, we'll fix this by opening more and more USD pair for Alts."
As a result, Bitcoin price is declining and as it lost its chance to become currency, is about to lose to be store of value. A whale with 50K Bitcoin is afraid of losing his/her Bitcoins and doesn't invest in any Alt project starts losing value. This might bring the end of Crypto world. What's the purpose of someone who doesn't move his/her Bitcoins from $250-$20K and even after starts declining?
Bitcoin and Altcoins form an ecosystem. No matter what happens, you can't just call them scam to protect the ecosystem. Sometimes you need to invest in those Altcoins even though it's so risky. This involves Whales of Platform coins too. As an example, Ethereum and Waves. Ethereum and Waves whales have to/need to invest in tokens under these platforms to make sure those platforms keep running and have enough liquidity. Let's take Waves into account. Waves whales need to invest and support Waves tokens more than users and newcomers because The more those tokens succeed the better the ecosystem works.
While this lack of understanding might be acceptable for those whales, it's very sad Bitcoin whales are doing such a simple mistake. They let Altcoins getting killed by leaving those Altcoins alone and leaving no choice to exchanges to open USD pair for those Altcoins. Experienced and new investors almost stopped checking BTC pair and using USD pair by default. They don't care BTC pair anymore and this is getting more and more dangerous for Crypto.
If Bitcoins maximalists keep doing these mistakes, Exchanges will create more stable coins, open more pairs in FIAT and this is when Altcoins start decoupling from Bitcoin. It means that no more XXX/BTC pair, more and more XXX/USD pairs with liquidity and since Bitcoin is used less and less, it will take its value to the ground.
I hope Bitcoin maximalists and miners see their mistake and the stop the paranoia of losing their Bitcoin.
This article is not about price, is about value.
Original article in Turkish by https://twitter.com/AztecGoldHero
Translated by Myfranco
https://twitter.com/TechPursuitX
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