Thanks for providing some of your details. I don't necessarily agree with your goals, but I would be concerned about some of your potential distractions with alt coins and that your perception that you have decent chances to use alt coins to accumulate more BTC than if you held BTC itself.
I probably have disclosed numerous times in this thread that my alt coins tend to be less than 5% of my total holdings, and I think now is around 2%-ish. I do understand that some members might have perceptions like yours that it is possibly useful to keep higher allocations in alts to accumulate BTC, and I tend to be o.k. if they were to take a 20% alt strategy, but not an 70% alt strategy as you seem to be currently... but maybe if you reversed your allocation to 70% BTC, you could still find a way to make it comfortable for you, especially if you have what seems to be a minimum 5 year investment and building of your portfolio plan.
Of course, in the end, you have to find your own level of comfort, but I tend towards lessening the gambling aspects which causes me to remain in the 90% plus arena for bitcoin, and I become less and less able to relate to those strategies the more that they allocate higher level to alts, even if they end up getting lucky by playing around with shit that can implode at any moment - which is not the same as the continuing strength of the fundamentals in bitcoin.
Well, I'm a believer in bitcoin, but can't say that I'm a maximalist as I'm not all-in with it. I see alts as an opportunity to get more bitcoin and so far my trades have been successful. I was almost 100% BTC about 2 months back when alts were bleeding and BTC somewhat held it's position, at least against the alts. Now there is more market movement in alts, so I have my main stash there. I'm a bit of a gambler myself aswell, maybe that's the reason I'm moving my stash around as much as I do.
When this thread was started, a bit more than 5 years ago, bitcoin was really the only game in town, and really it largely held such a central conscientiousness position for at least 4 of those recent 5 years. Yeah there was the pumping of various alts in late 2013, too, but the various consciousness and seemingly distortion attacks on bitcoin began to gain steam in about late 2016 and early 2017, with the near flippening pumpening of the shitcoin that is also known as ethereum.
No way am I asserting that you would not be able to take risks and to make a shit ton loads of money that could possibly surpass your abilities to make money with a bitcoin centric approach... So accordingly, there are some costs and risks in moving your money around into these various projects, but sometimes the gains that you accomplish are going to be such that they outweigh either the moving around coins losses or the amount that you might have gained, just in bitcoin.
Yes, such practice is a kind of gambling, and perhaps in recent times (or at least retrospectively) some bouncing around crypto folks have been able to measure some gambling odds that are decently well into their favor, which also would justify some of the gambling and to cause such gambling to seem more like strategic investment (which can be designed a bit differently from gambling by assessing some of the fundamentals or having some system that accounts for some decently assured fundamentals, such as considering whether the pumpers(backers) of the coin have decent systems in place that will allow you to get in and out of the coin during a price appreciation stage, before it cashes to some losing state.
But, like said, my main goal is to accumulate BTC. You got me worried a bit now, I think I'll transfer 30% of the wallet worth in BTC to a cold storage now and hodl it there, just for kicks.
You may or may not have a system that is going to pay off, so I would not want to be perceived as talking you out of anything, even though perhaps, any of us can sometimes tweak our approach and even our inclinations towards risk taking by sharing information in threads (conversations) like these can help each of us to better help ourselves. Even though I have spouted a lot of nonsense through the years through this thread, I feel that my own participation has assisted me to learn more about my own strategies by my attempting to explain some of the things that I think and do.
If you have any interest, maybe we can continue the altcoin talk in private chat, don't want to spam this thread with it. I would just like to disclose what alts I have and why I have them.
Cheers!
Maybe some other thread participants would be interested in brainstorming with you about some of your alt coin picks and strategies and the reason why, but I have no interest in getting distracted by any non-bitcoin projects. I agree with you that there are crypto projects that have decent chances to have legs as non scams, and even they might tie back to bitcoin or become folded into bitcoin in various ways - however, I have real difficulties appreciating or participating in thoughts about how various other projects might be profitable, because surely a lot of them sound good in theory, yet frequently I still wonder why they need their own coin or their own blockchain rather than being built upon or in complimentary style to bitcoin.... So tangentially, I do sometimes learn about some of these kinds of projects and attempt to figure out how they might be building in compliment to bitcoin rather than as a brain drain and financial drain distraction.
Also, personally I believe that to the extent that you can describe various crypto projects as complimentary (rather than attack vectors on bitcoin), then those topics might be relevant to this thread, even though patience is likely to wear thin if you devolve too far and the connection to bitcoin becomes a lot less apparent, then seemingly rightly so, a large number of participants in this thread will begin to attack you as being pumping some shit or attacking bitcoin, and you seem to recognize these kinds of topical thread dynamics, Kylapoiss.
