Of course this is all a gamble. And that includes BTC as well. We can't act like BTC is a sure thing and is always destined to out perform alts, or even eventually increase in value. For all we know BTC's ATH is it, never to be seen again. Or 8Kish is the new forever high.

I think one difference between how we look at this is you are viewing BTC as an investment and all alts are just a gamble. In reality it's all a gamble, it just depends on the risk tolerance of those putting their money into this. I also wouldn't dismiss the idea of trading + taking profits, as alts can outpace btc, and then it's an opportunity to increase btc or fiat.

And sure, not everyone can do this. But if they put money into alts to begin with, they probably knew how the game works. You are talking to folks in a crypto forum -- THE crypto forum -- not some random website with folks used to investing in mutual funds or CDs. There is immense risk but also potential for immense reward.

And besides all of that, you are recommending folks sell alts for btc even if at a huge loss. Many couldn't recover even if btc goes insane ... so risk/reward may point them to simply holding. It's not so simple as saying everyone should sell their alts, they have to weigh potential profit and of course it depends on specific details of the project.

When a coin goes from like .01 to over $2, it might be time to take profits. Same with btc going from 1K to close to 20K. It doesn't take a genius. I agree it's easier with hindsight, but at the same time coins went so insane during 17, those who bought in cheap probably knew to sell for at least some profit-taking. It didn't require precision timing or chart reading ... more like, hey, my tiny investment is now worth over 100K ... it might be time to cash out.


As for buying or selling, I wouldn't recommend crypto to anyone just out of the blue, as I feel they have to make up their own mind. I just said if someone was new to this and absolutely wanted to invest, I'd lean towards BTC -- as yes, it's probably the safest bet. But the difference is, I don't pretend to know where the markets will go. I wouldn't tell someone holding an alt they are wrong either.

 Can you say you know with absolute certainty that no alts won't recover?

By the way, during 2017 I'm not sure cherry picking specific coins even comes into play really ... every alt basically went insane.

I don't know about you, but during 2017 you could have thrown darts at random alts and turned a profit. As for timing, basically all you had to do was hold until the end of the year. Dec 17/Jan 18 and alt prices were insanely high.

So it's not like 'maybe' you would have been better off. Many alts ended up with 10-100x profits. And it wasn't just the rare find, there were a bunch of them. I'm not saying this will happen again, as I don't expect it to. But I wouldn't dismiss the entire altcoin market like you either.

Sure, if you held the alts until now, your profit wouldn't be so profitable. Many coins (especially pure junk) is worthless now. However, BTC isn't as profitable as it was either. But taking profits is part of the game, everyone knows this.

If someone new to crypto asked to invest, I'd recommend BTC first. Then maybe a little in ETH. However for those at a loss holding alts, I couldn't in good conscience tell them to lock in that loss -- it's certainly possible for decent alts (meaning in the top 100) to see a rise again.

I just find it weird when some folks post 'sell all of your alts, disaster is looming!' like they know for a certainty where the markets will lead.

It'd be great if anyone knew where the markets were heading. OP apparently hold BTC as otherwise it makes no sense for him to state to sell all of your altcoins. Yet if you followed his advice in 2017, you'd be kicking yourself at the end of the year.

I don't expect to see a repeat of 17/18, but nobody knows where alts or btc will go. Maybe BTC consolidates at the 8K level and alts take a run for the next couple of months. Maybe BTC goes nuts, leaving alts in the dust. Only advice that is relevant is to consider taking profits when available, otherwise nobody can say for certain where markets will lead.

And let's not act like BTC is a superior coin either. It's not like BTC is great and all alts are shitcoins. Some alts have better technicals and serve different purposes than BTC, so from a product standpoint many are actually superior. BTC is king because it was first, it's that simple -- but as a coin it is kind of lousy, actually -- certainly it's not the best crypto to use as a currency.

I hold BTC and some alts, so either way I profit (assuming either eventually go up). But it's foolish to act like you know where the markets will lead.

And responses like that are probably why the OP posted what he did. Based on the OP's earlier posts, it's unlikely he actually sold his house, but he is getting a rise out of some people.

And like similar posts years ago, it'd be kind of funny if those exact coins skyrocket over the next couple of months. I don't expect it, but stranger things have happened in crypto-land. Personally I'd go more with BTC, but what do I know ... nobody knows where the markets will lead. Out of those alts I'm kind of partial to ADA (although I don't currently hold any), but they code at a slug's pace, so it may be like 2030 before they have a working product (exaggeration, but maybe not that big an exaggeration).

If 1K is big money for the OP, he probably shouldn't be investing in crypto at all, to be honest. But if it's a decent amount to him, btc would be the safest bet.

Otherwise, I like the idea the other poster mentioned, just use it for trading. Which means playing the swings right ... kind of a risk, but if he figures out how to trade, probably the way to make some money. He could just trade in BTC if trading alts seems too risky to him.

Well, I've learned over time never to underestimate just how low some coins can go. But I do think (or at least sure hope) many coins have hit their bottom. If btc just floats around the $7500-$8500 level for the remainder of the year and btc dominance get can down to at least under 60%, we may see some sort of altcoin season this year. Nothing crazy, but at this point any movement up at all would be welcome.

I got that feeling as well, tacking on some random charity to a coin with the idea it'd appeal to more people. I guess. The end result however was more likely just confusion.

I hesitate to call this a scam however simply because I have a feeling that the devs barely took any money in. The 50%+ discount at the end isn't typically a sign an IEO is going well. But who knows really, all we get is silence. I took part in the bounty, seeing as free is free, and they paid out as they went along, but as an IEO this coin just screamed red flags to me.

I'm not sure if that rating council means much. If the exchanges are willing to list XRP and state it's not a security, then what coin is really?

I have to ask, mostly out of curiosity, are you a big BTC supporter and against all altcoins?

Just wondering, as when glancing through your post history, I see the last 100 posts (probably way more, but I am too lazy to check) from you are just random 'shitcoin', 'coin dead', 'rekt' comments on various unrelated coins. Seems weird for someone to have nothing better to do than go around knocking coins during a bear market. I mean, everything is down, including btc, so you can't be wrong. I'm just curious what the point is.

Either you are a btc maximalist (with a weird idea that knocking every alt in existence somehow helps btc) or a troll.

Beats me. Usually with old trolling attempts they'd go for the pity angle, and ask for donations. Or they just wanted to troll and get a rise out of people,  or wanted to denigrate whatever they invested in. I recall at least one or two for Dash, for instance, during the early days (just after a pump, while in dump mode). And there were a number of 'sold my house for btc' threads too ... again, they didn't work so well as troll attempts when btc (or whatever coin) went crazy in 17, which would have made them all millionaires -- if they were telling the truth that is.

As for this thread, no idea what the OP's point is if he didn't actually make that investment. Maybe he wanted folks to point out other coins to invest in instead? Or just thought it was a silly post since it's a huge risk, and wanted to get reactions from people? Seems weird to me, but plenty of odd people on the internet. I can't fathom why they do a lot of things they do.

I guess it was just for the IEO that they used p2bb2b, not a full listing. It'd be nice if they'd get the coin on other exchanges... I'd settle for dinky exchanges even. Just anything that doesn't require KYC for such a small amount of crypto, seems idiotic to require KYC when selling like $10-$30 worth of coin.

This is kind of a weird project, I have to admit. Seems to lean scammy, with diamonds and children? I mean, there is no logical correlation there -- Help the needy children, and oh, by the way, buy diamonds at a discount too. Bizarre.

But the devs are so silent, who knows what they actually planned. If I had to guess they took in like nothing from the coin sale and just gave up? Usually with a scam there is a lot of fake hype and so on ... here it's just crickets and an exchange nobody uses.

It wouldn't surprise me. I mentioned in an earlier post here that we used to see a ton of similar posts... the 'sold my house, belongings, bank acct' threads, usually into a single altcoin that just collapsed or a sinking btc. The trolling attempts didn't work as well when crypto started to skyrocket though.

I expected a drop off, but nothing like 95%. Or in some cases, closer to 99%. I thought at around 70%, most alts would have hit their floor. Luckily I didn't buy into any alts at highs, but I'm still at a pretty big loss as I didn't count on this summer dropoff.

But yeah, if anyone bought in at the highs, I can't see any real hope of recovery for a lot of coins. I guess by now most sold off though, taking big losses, but not disastrous losses. And if holding currently, might as well just keep holding ... either the market will recover or one might as well go down with the ship.

Some folks have said they staked their beans there. I didn't, but I found the site worked fine. Just be aware that some withdrawals may be a little slow. I think for BTC they do it manually, so it may take like a day. When I was using it I just withdrew ETH and that was pretty much immediate (or at least from btcpop's end, had to wait for the network like everyone else).

The only problem with btcpop is the lack of liquidity. I haven't checked bean over there for a while, but I know for a lot of coins there isn't much volume. An example, at the time it seemed kind of weird not being able to buy or sell ETH instantly... you'd think of any coin, it should have some volume behind it.

Bean people should get the coin on an exchange that coinmarketcap lists though. I think they require two exchanges to be listed, and minus coinexchange.io, that leaves just one. And even that one (yobit) has no volume because it's sort of a fake listing with a broken wallet.

That makes more sense to me than dividend coins, especially if a stablecoin is chosen to hold. Then the only risk is if Binance gets hacked or goes out of business, it removes the risk of price volatility.

Even coinbase has started up something like this, although unfortunately at a meager interest rate.

You may be right, but who knows, this is all guesswork. Personally I think if anyone wants to get into alts, now may be the time, and hope for a little altcoin season between now and the next couple of months. My reasoning is that if BTC's price has stalled out for now, whales may want to feed in altcoin waters for a while.

But buying in Dec could be pushing it, not sure if that'd be the beginning or end of any sort of altcoin rise, that could be around when BTC wakes up pre-halvening.

I thought there was a lockup for 4 years for early investors, but just reading now that I think they changed that so it's a slow payout over the first year. So yeah, seed investors may be dumping for a while. I'm reading their buy-in was around .003-.005, which is a pretty nice profit even at current low prices. A lot was given away for free for developer work too.

Although I also see a ton sold at around .12, but I guess if those folks haven't sold yet, they are kind of stuck for now.

So it may play out like a bounty situation, where everyone who got cheap or free coin will be dumping, but in this case it may take like a year for the total dump to finish. Early investors will be in profit pretty much no matter how low the coin goes (unless it goes insanely low).

Agree about whales. So many people try to find reasons for things in crypto ... Bakkt, or real world use, or some announcement, or some new coin feature ... but in the end it all comes down to speculation and how whales move the markets.

Does anyone think BTC's rise to 13.8Kish this year was normal organic growth? Same applies to random drops for seemingly no reason. And of course that applies to alts too, probably even more so.

So yeah, alts can recover, who knows. It comes down to where whales feel they can make money. It wouldn't surprise me in the least to see alts recover somewhat for the next couple of months, where whales make some extra btc before btc's presumed rise in early 2020 pre-halvening.

There used to be several such stories, or I should say threads here, of some fellow selling his house, or all of his belongings, or inheritance and putting it all into BTC or an alt coin. Many were troll attempts, 'Oh woe is me, I lost half of my money already! My wife left me! Oh noes...'  -- which kind of backfired as trolling when BTC went crazy in 17/18.

As for the OP, I won't say he's right or wrong. But I sure hope his house was just a small part of his total holdings. If someone is super rich and wants to put a house worth of money into crypto, that's fine ... if that is everything someone has, kind of a big risk there.

And as others have stated, I would recommend at least some of those funds be put into BTC.