I never touch alts because I don’t believe in them. And I can make bad decisions if I don’t believe in what I am trading.
I’ve got a stash of XRP, nowhere near as much as my bitcoin HODLINGS but would be nice to see it moon in the future.
I don't see any considerable ecosystem benefits of various shitcoins pumpening, even if my personal holdings might go up because of such pumpenings.
I understand that it is likely inevitable that several shitcoins are going to pump in the coming years, and that is why we cannot have nice things, and at minimum it will take 20 years for a decent portion of the population
to recognize the differentiating value in bitcoin, and more realistically it will take longer than 20 years, perhaps approaching 50 years (I will either be dead or close to dead by then, so if I am posting in this thread, then there is some kind of AI going on or my account has been hacked).
I don't get why you see the differentiating value and the potential value proposition of altcoins as mutually exclusive.
Your characterization of my position seems a bit off.
I consider that there is a strong pull in BTC's value proposition in terms of the creation of sound money. No other coin comes even close to that even though with the passage of time, there could be some coins that come close to that, yet a vast majority of my problem with various other coins is that they attempt to suggest that either there are defects in bitcoin that they resolve or that they are superior than bitcoin in various ways that suggest superior sound money as compared with bitcoin.
Sure, some of the coins talk about technical improvements and other likely less significant mumbo jumbo that could, in the longer term play out to be useful to humanity, and may also be absorbed into bitcoin at the primary layer or some other layer... Yet, for me, the sound money aspect remains the distinction of bitcoin, not the other various quasi-centralized distractions of other coins.
So, yeah other coins are likely providing various values, but other coins is not the topic of this thread, so it is totally appropriate to completely and cursorily dismiss them all as shit coins, even if they may be providing some various alleged kinds of values. Who gives a shit?
The topic of the thread is bitcoin, and as I mentioned one of the differentiating values that bitcoin provides is sound money, and frequently, I see that either on purpose or accidentally, people get caught up in various other value narratives, and whether those other value narratives works out or not, again, who gives a shit, except that a vast majority of other coins try to proclaim themselves as superior to bitcoin or replacing some kind of meaningful bitcoin function, when they do not in terms of soundness of money analysis.
Bitcoin will be the future currency, where equity 2.0 will be given in the form of altcoins that are traded against Bitcoin.
Seems likely, yes.
Although I guess the current market makes it extremely hard to see this future, I don't think that altcoins are generally speaking shitcoins. Even if some 99% of them in fact are right now.
Maybe, but again, who cares?
If there are some reasons to buy a little alt coin here and there, then anyone can make those kinds of choices to invest into the various other projects, and there could be some value there, of course.
Companies won't really be able to tie their equity to Bitcoin due to its volatility, but they could very well fix a shitcoin to their annual, or at some point even real-time revenue, operating costs, profits, inventory, etc., which will vastly improve the tools available to value investors who now have to rely on quarterly reports that may or may not be cooked. Just to name one tiny future niche that will be fulfilled by blockchain eventually.
Yes there are more than 7 billion people, so a lot of various use cases that may or may not connect to bitcoin, of course.
The amount of shitcoins right now is no different from the amount of shitsites during the dotcom bubble (probably much less since we're nowhere near peak). Doesn't mean that everything was shit.
I doubt that I am saying that every other coin is shit, and of course, we are stuck with some necessity to discuss the dynamics of various alt coins because there is some connection in terms of money movement in the BTC space, and likely some symbiotic relationship with the back and forth of the alt coin price movements and even pumps, dumbs, and scams. Yet, I don't see any reason to get into long discussions of the various value propositions of shitcoins. Take it to some other thread except to the extent that it either relates to BTC or BTC price dynamics, no?
Same story with every bubble, keep an open mind or you'll miss the bigger picture due to the hordes of incompetence, money grabs and outright scams.
Are you suggesting that I am not keeping an open mind, merely because I don't want to clutter my mind with distractions into the investigation of possible value propositions of more than 2,000 other crypto projects, aka shit coins, or maybe I am supposed to focus on the top 10 or top 20 or look at some kind of criteria to assess the extent to which these various shit coins might be offering some kind of value?
Let's say for example there are 5-10 good alt coin projects that end up either playing a very significant role in the crypto space or supplanting various BTC use cases because of their superiority. Why does it matter that I start to pay attention now (and study them) or wait 5-10 years when such supplantation becomes more obvious? Am I missing out on something? Knowledge? Investment opportunity? What am I missing, exactly? Don't I get enough exposure to learning about them, just through osmosis with my already ongoing involvement in paying attention to bitcoin?
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