Whatup Bitches? :anon.sml:
You can thank Samgeneric for Tipping me off to this thread. I thought I'd been forgotten about around here it's been so long.
More wishing than actual buying... Sad to say I'm not even a millionaire yet, but I've got enough diversified holdings that i'm comfortable enough. Even if Bitcoin has some bad troubles with the scaling war this fall, I'll be ok.
I'm pretty sure I can name two on here that have larger hodlings than I. I'd better not though.
Of course Satoshi is still sitting on between 1m and 1.5m bitcoins. I'd say he'll be the world's first Trillionaire soon, maybe next year.
I've happily been a bitcoin maximalist all these years, but I came to recognize that other coins can co-exist because they have other roles to fill, and Bitcoin can still be the world's global reserve currency one day no matter how many other coins are highly-valued securities. I now hold a diversified portfolio of alts that I think will grow for different reasons.
Ethereum, however, is simply too flawed. It's got governance problems that make veterans run away screaming. I know it's hot right now, and Putin met with Vitalik about Ethereum last week, but it's 10x too risky for me and lately they've had actual network downtime... Something Bitcoin has never had.
The following is not investment advice, but I find these altcoins very interesting and think that they all have a bright future... Not as money, but as securities that have an underlying value that doesn't go away if speculators leave the market. In no particular order:
- IOTA - The Internet of things coin; Super-advanced tech no longer needs a blockchain. It needs work but it's on the path to greatness.
- ZEC - Zcash, which has Near-perfect anonymity... May become the black market coin but has huge corporate investors already. Run by Zooko, of Zooko's triangle fame.
- LBC - LBRYcoin, LBRY is kind of a next-gen YouTube/iTunes replacement.
- SC - Siacoin, the best of the decentralized drive-share apps. I hope to see this replacing dropbox and most cloud storage services one day soon.
For the short term, it may be worth holding onto some Litecoin (LTC) too, because Bitcoin is going through a rough patch for the next 1-3 of months, and LTC has put itself in the right position to receive those fleeing it. I'd sell it for Bitcoin when the big Dip is done, of course.
About the Block Size War
Since I'm sure someone is going to ask, yes, I am a little worried that the blockchain may split into two bitcoins, and investors will lose major confidence if that happens.
Regardless, after the split, no matter if it happens or not, BTC will be the best investment of them all once again because of the amazing upgrades that are pending now, and of course because BTC's network effects can't simply be reset to zero. It takes a lot of time and trouble to convince all those merchants and minds to switch to something new, and have them all agree on which that is.
So yes, Bitcoin is still a great investment that can go up 1,000x from here.... But I am personally betting on a pretty major dip happening first in the next few months... After which time I hope to buy a lot of really cheap bitcoins and become a billionaire from them afterall.
)! I hedl some Monero for a while, saw it go from about $30 to $100 and felt that's as much time as I had to give it... I've been mainly in BTC ever since.
