Personally I don't believe altcoins will perform even close to Bitcoin. Look at Gold and the other precious metals or at blue chip companies vs the other (it's not the best example, but you get it). Most of the institutional money will flow into BTC. Breadcrumbs will probably fall to altcoins too, but not too many IMO and many of them will fade into the shade.

I've noticed you are using Shrimpy to balance your portfolio. If you're doing that means you're keeping your holdings on an exchange which is not a recommended practice. To be honest, if I were you I would simply liquidate the altcoins and put it all into the "honeybadger". Then DCA with some of my monthly income.  

This is NOT a financial advice, just my humble opinion. Treat it accordingly.

I'm sure many people consider keeping their wealth in Bitcoin and adding to it. I mean why not? It is a scarce asset that is not subject to inflation and it cannot be controlled by governments. If you ask me I'd choose BTC over Gold at any time of the day. Let's not forget that its market cap is extremely low for a hedge-type asset comparing to other precious metals. That indicates massive room for growth.

I expect governments to regulate exchange. It does not feel safe to trade on an unregulated an uninsured trading platform. It is like giving your money to a bucket shop in an off-shore country. They can't really steal the money, but who stops them from doing fraudulent activity? I mean hypothetically they could arrange a deal with a hacker to expose a vulnerability and behave like they have been hacked.

Centralized exchanges should be regulated, audited and insured. Otherwise the default risk is very high both for traders and investors.

Looking forward to a future with decentralized exchanges.

I know that the emotions you're going through are hard to grasp, but think this way: you could have not even heard or got into Bitcoin after all if it was not for your colleague.
Be happy that it happened and you have learnt a valuable lesson probably early in your life. Making 7X your money is not impossible. You can find opportunities everywhere you look, just need to look closely.

My opinion is that Bitcoin is still in a cocoon. We're witnessing only the tip of the iceberg. Just my 2 cents.

Cheer up, fellow and go after your dreams! Don't waste anymore time on feeling sorry. You're between the small majority that actually got into BTC early and spot the treasure.

I don't think it is going to be that hard to convince people anymore. We live in unprecedented times of change and technologic advancement. Many people who are alive never went through a pandemic like this one and yet they HAD to adapt. Same will happen with Bitcoin. The ones who adapt slower won't reap the same benefits as those who adapt earlier, but won't also bear the same risks.

I have figured out that skeptic people usually get convinced when the proof is in front of their eyes. Show them how easy and hassle-free is a bitcoin payment and they'll follow you. Show them how they lose value by holding fiat vs hodling BTC and so on.

Just a flex. Don't pay attention to things like that and do not try to impress people. If you want to purchase Bitcoins do it because you want to benefit from its features aka to protect your wealth from inflation, increase your net worth, be free from the banking system, etc. Don't buy just because you want to own 1 btc.

Buying a liability instead of holding Bitcoin? I don't think that's a move a financially educated person would do. At least not if the BTC he is selling for the car is a significant part of his net worth, but I agree. There are some people who would liquidate everything just to own the car they dreamed about in their childhood.

I'm not sure about the vaccine not working against the new strains. I've just seen an article on The Guardian that says the Pfizer vaccine has been proven efficient on the UK and South African mutations. The testing took place on 20 subjects which is not very assuring in my opinion. With Trump making so much noise and creating instability, the stock market could indeed take a plunge. Personally, I haven't seen the United States in a so fragile condition.

Let's not promote immoral behaviour. Hacking someone else's wallet is similar to stealing cash from a person in the street.
Money is not what makes people happy and especially if you steal it I guarantee you won't feel any better. Think long term and not short term. As I said the best mindset when it comes to earning money is "How do I create more value for others"?

I'll provide a somehow simpler answer than my bitcoin comrades here.

You can earn Bitcoins pretty much the same way you would earn fiat currencies. Alternatively you can earn fiat and exchange it into BTC.
To earn, you need to find a way to add value to the economy. This can be done through time or money investments... or BOTH.
You bring value to someone else = You receive some kind of compensation (unless you're working with scammers)

It is an open market and we live in capitalism. Whether we like it or not, institutions need to get involved in order to scale Bitcoin globally and promote adoption. Bitcoin supply might get more centralized this way, but remember that there are multiple shareholders in these companies so technically each one of them holds a chunk of the positions.

For the network to function properly it is important that the nodes are decentralized, not really the supply allocation.

I hope you are not trading with real money. If you are, withdraw them immediately and start trading on a demo account for the next 3-6 months, but treat those funds as if they were yours (real).
You might be on a winning streak if you're trading only for a week. This is the most dangerous state of the mind - being euphoric and thinking you are making money like a money printing machine.

I don't contest your skills, you might be a natural - but you would be the first one haha. Trading is anything, but not easy, especially for a beginner.

Just process the feeling and acknowledge that you cannot foresee the future whatever you could do. The price could have dumped again and you would have been happy that you sold. The thing is to inhibit these emotions when you're trading and investing. You missed some yield and so what? There are opportunities everywhere to invest and earn a high yield: you can start a business, trade, retail, manage an app creation, etc.

See the full half of the glass. You did keep a part of your stack, haven't you?

Not everybody can afford $200, but I agree that it is now MORE RISKY NOT TO have exposure to Bitcoin whatever your net worth it is. Even 0.10% of your net worth, in some years could represent 5-10%, who knows.
Keep in mind that most of us here are supporters so other people might consider us biased and we most surely are. My opinion is that when institutions are getting in and high net worth individuals start to build positions, it is a good sign.

You can always go the legal way and sue them, but if they were a scam they have likely stolen the funds and run with them. You might end up losing even more money on lawyers and court fees.
That's why it is recommended to only deal with trusted entities who are regulated in some form. Would you trust your funds to a man on the street vs the bank? I guess not.

This move is structured differently than the previous one. I wouldn't look for a significant retracement until I don't see some serious signs in the market from a technical point of view. For now, Bitcoin is marching forward with a nice volume spike on CMEs. That's a good sign. I really don't think institutions are done buying, but that's just my humble opinion. Some people say that these numbers are crazy, but the truth is this asset is revolutionary. We have never had witnessed a currency designed like BTC. We don't know how it will be treated from a market standpoint.

This is a good tip. Just think about how much money is lying there on old exchange accounts. I'm also wondering if there is any statistic regarding the permanent loss of bitcoin wallets. Chainanalysis showed some time ago that there are over 4 million Bitcoins lost. Try looking on old casino accounts as well, you might have some change from free rolls or old deposits there.

I think it is mostly common sense to not get caught in these scams. People got to ask themselves why would anyone giveaway a 500% return with absolutely no work involved when the biggest hedge funds barely make 15-20%/ Year?

It is a matter of financial education in my opinion. It is rejuvenating to see more and more financial education channels and blog popping up.

I know the Winklevoss brother, but I did not know the story between them and Mark Zuckerberg. So Mark Zuckerberg has been an idea thief who just brought their vision forward.. Quite a shame.
However, I think facebook's impact on the world will be very small compared to what Bitcoin will emerge into the next years.

My suggestion is to get comfortable taking risks, but take calculated ones. Without risks life is not worth living. Living safe won't bring you happiness. You need to get outside your comfort zone. Gather knowledge, acquire skills, practice and eventually attain your dreams.

Personally I think it is more risky to not get into Bitcoin and suffer from the constant loss of purchasing power. Your net worth allocation depend on your knowledge about Bitcoin, financial situation and of course your age. Yo can see that people are buying. When price is going up, there are more buyers than sellers and vice-versa.