Haha, so now the trolls are in an uproar because of the thought that Bitcoin maximalists won't even bother to hold altcoins because they know that such can be traded for as needed for day-to-day transactions?
Well they should be. Because Bitcoin is digital gold, that only has value that continues to increase because people to choose to hold it long term and not spend it.
Altcoins, not so much.
Trading BTC to altcoins "as needed for day-to-day transactions" is pointless. You will incur in more fees (exchanging, txs, etc) instead of avoiding them. At least until Bitcoin deploys LN and/or increase blocksize... but then it wouldn't be needed to use any altcoin. So, in some way, this situation is forcing us to hold a higher percentage of altcoins than what we would be initially willing/comfortable to. Maybe that is even good for some people, or they think so because of the shorter term higher gains we have involuntarily experienced... but I don't think that is sustainable in the longer run. When I first heard about Bitcoin, I fully bought in to the whole "digital currency is better in every way to fiat for online purchases" line. Only problem though, is that unless you are trying to buy something illegal, it really isn't better than fiat. In the past 4 years, I've never come across a single scenario where going through the hassle of buying Bitcoin, getting charged the fee, waiting 3-4 days for it, then spending it online for something, transaction fee, waiting for confirmation, was in any way better or faster than just using a credit card or online bank account. The fee for purchasing the bitcoin + the waiting + the fee for the spending transaction + the time for confirmation just never outweighed just spending my fiat directly in the first place. Truly, something like Lightning Network is the ONLY way Bitcoin is ever going to have a chance to compete with worldwide fiat transaction systems by giving people an INCENTIVE to buy bitcoin for that purpose. Meaning that it actually HAS TO BE better and faster than using fiat systems online for spending. Even then, I just don't see most people buying bitcoin for the purpose of turning around and immediately spending it online. I just don't. |
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Bitcoin is more safe to hold than gold. Gold you can lost or be robbed.
And you don't have to worry about who made it, how it was made, or it's resell value. |
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Everyone else has been robbed by the bank or sold coupons by the bank for metals that don't exist. That's not a fault of metals, it's the fault of people trusting banks. The metals didn't rob you, the bank did.
But the end result is the same. As long as metals are priced in dollars, you'll never get what they are truly worth for them. Guess you'll just have to wait on the ol' Apocalypse to come then. Don't hold your breath. |
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Because Bitcoin is digital gold
Let me get this straight. You're telling people that centralized, valueless, imaginary tokens are better than gold and silver, yet in order to try and trick them into believing you, you're forced to use the word "gold" in your sentence and claim that bitcoin is "gold". Talk about bad propaganda. You're right, gold isn't even gold anymore, because the thing it used to be has been completely destroyed by Central Bank manipulation. Bitcoin is a "digital commodity." Gold is just a shiny rock dug up from the ground. There, fixed. |
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There should be a forum mod rule that states that any newb account has to say something meaningful, instead of complete garbage vomit. Otherwise it gets deleted. Sadly there isn't.  |
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Haha, so now the trolls are in an uproar because of the thought that Bitcoin maximalists won't even bother to hold altcoins because they know that such can be traded for as needed for day-to-day transactions?
Well they should be. Because Bitcoin is digital gold, that only has value that continues to increase because people to choose to hold it long term and not spend it.
Altcoins, not so much.
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It's a kinda strange sense of certainty I get the more BTC is attacked. The high transaction fees and long confirmations is an increased incentive to hodl. While those new to crypto of the last 30 days are freaking out at BTC's correction and trying to trade alts, I've never felt more bullish in my hodlings. In fact, its exactly what I did before I joined the buy and hodl only team. I'm thinking there's a good possibility of some big news around the corner in response to the past several days.
I can confirm that lots of eager "new" investors got spooked recently. Next gen hodlers?
I don't understand how the irony gets lost on most day trading crypto gamblers, that if a cryptocurrency like Bitcoin wasn't just held by the majority of people that buy it (regardless of whether the price is going up or down), it wouldn't have a high value at all? Lol Hodling is pretty easy. People that are not used to holding something for years should go buy a nice big chunk of Gold or Silver, and put it in a safe or lockbox. It will teach them discipline. |
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Friend got this. This is what the start of mass adoption looks like   |
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RSI below 30 on the 6h. Every time that has happened in the past, buys usually start pouring in.
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So I wonder do you think the long term (1,2,3 years) situation for bitcoin broken? Or do you think it will maintain its upwards trend in the following years as well?
It'll be WAAAY up from here in 2-3 years. You'll be shocked. |
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My partner just mumbled something about "I guess I should buy at these prices".
I consider this a bullish sign.
An eagles cawing is heard echoing across the desolate plains. The water buffalo perks its ears.
The stars are veiled. Something stirs in the east. |
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That awkward moment when BCH shills realize that their fate is joined with Bitcoin. If Bitcoin fails, all crypto will.
Correct, it simply proves that BCH is nothing but an altcoin, and a centralized piece of junk. Funny thing is, if we could do atomic swaps between Bitcoin and BCH, there would be no need for anyone to ever hold BCH at all. Just convert from Bitcoin on the fly as needed. But of course that camp wouldn't want that, because without anyone holding or trading BCH it would have no value at all. |
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Instead of your top, I'm calling a BOTTOM @ $16,500.
Think fast buddy, if it breaches $11,2 no more support til around $9,9... So much easier to make a decision when you have time to think about it. Yeah my previous bottom call was shit. Or not really shit if we hadn't had a black swan EOY sell off. But I didn't buy that bottom anyway. I DID buy the $11,500 dip. Prepared again to buy @ $9900 if we go lower. And you sgbett? |
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I'm thinking we're going to get a bounce here.
I bought the dip.
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i havent sold at 18k or 19k.. why would i sell at 11k?? no way. They will not have my coins.
Who is "they" and why would anybody want your coins? Its like praying at a stone (bitcoin currently) and telling everybody its worth more than the market decides, everybody who bought > 3000$ bought into a pump Not true. Wallstreet wants cheaper coins for Bitcoin Futures market control as well as for the 2-4 Bitcoin ETFs coming online next year. And the Goldman-Sachs bitcoin trading desk. They need more supply. Believe it. EDIT: And heeeeere comes the bounce! |
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Hey, can we blame this on Coinbase and their whole BCash launch fiasco? Yeah, let's do. Because we need a reason.  |
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