for the first time ever, i'm hedging part of my long term position with altcoins

[york780]

If you just wanted to make $$$ short term, the time to have bought in Altlandia was last year. When no one wanted it or cared.

If you are getting onboard now 'cause hype and "dur hur alts winning, Bitcoin failing dur hur", we'll I'm afraid you're going to be disappointed.

Short term perception <> long term reality.

I'll just leave this here:
http://altcoinobituaries.com/

This site is just brutal. But 80% off all the altcoins will end up like this. Still a shame of litecoin. I liked the coin.

[1714113830]

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[jonald_fyookball]

I'm paying to remove risk.   

Either Bitcoin overcomes the growing pains and goes to the moon,
in which case i'll be a happy camper... or it doesn't, in which case
another coin will take over and I'll be an early adopter on that one.

Either way I win.

[york780]

I'm paying to remove risk.   

Either Bitcoin overcomes the growing pains and goes to the moon,
in which case i'll be a happy camper... or it doesn't, in which case
another coin will take over and I'll be an early adopter on that one.

Either way I win.

Who panics first panics best. Would be a mess when SegWit wouldnt be activated, this destroys the roadmap and so bitcoin's future. This results in a Titanic scenario. I am just waiting to see how this all ends. Moon or 0.

[blade87]

Right now? Good luck with buying high and trying to sell higher.

[European Central Bank]

I'm paying to remove risk.   

Either Bitcoin overcomes the growing pains and goes to the moon,
in which case i'll be a happy camper... or it doesn't, in which case
another coin will take over and I'll be an early adopter on that one.

Either way I win.

Why not employ a bunch of haitians and buy a hotdog stand instead? That's a real diversification.

[BrewMaster]

based on my experience anybody who stays in altcoins for too long is a fool, no offense but history has proven that altcoins aren't really something to think of as long term investment.

and on top of that all the facts about them points toward it being a bad idea. facts such as all the bugs and problems, small and fundamental, they have. facts like the manipulations, the scam ICOs and the premines and massive premines. you can't just close your eyes on all of them and make wish to have a successful investment!

that would be childish and the dog eat dog trading market is no place for such behavior.

[alyssa85]

Don't know what you invested in, but I definitely think altcoins are way more risky than bitcoin will ever be.  And I don't think that fits the definition of "hedging" either.  Diversification,  maybe.  Hedging I don't see.

Some alts like Doge and Litecoin stayed absolutely steady in dollar terms, even as the bitcoin pump happened from November onwards. Which meant that if you used bitcoin to buy either doge or ltc in Jan, you would have locked in bitcoin's dollar value at that point.

[European Central Bank]

That's what usdt is for. Anyone buying doge with the expectation of preserving their dollar value is a freaking maniac.

[anonbit992]

I wrote a post 2 weeks 'why i'm not selling my coins'.

At the time, it appeared that BU was gaining serious momentum, but
now we appear to be deadlocked again.  I'm not going to get too political
about this, but to make a long story short, stalement = blockstream/core
getting its way = little to zero on chain scaling in the forseeable future.

And what appears to be happening is that Bitcoin is being subverted,
not just by Blockstream but by outside actors who are employing a
sophisticated divide and conquer scheme.

Notice how neither segwit or BU can win the mining war... and that
is exactly what 'they' want.

I hope Bitcoin prevails but I am no longer comfortable keeping all my
eggs in one basket.

Diversification is very important when it comes to investments and I am happy that you have decided to go for it. It will prove to be a wise decision in future.I myself have diversified my bitcoins into 30 to 40 altcoins (both established and new altcoins included). I am still holding 25% of my total crypto portfolio in bitcoin.

[mining1]

@jonald_fyookball getting out of bitcoin is a good move, i personally wouldn't risk at all (unless it would be a very small amount). But many investors didn't look past bitcoin and they became maximalists, so they'll end up with #diedHolding meme on their tombstone.
Out of curiosity, where did you diversify your money ?

[jonald_fyookball]

@jonald_fyookball getting out of bitcoin is a good move, i personally wouldn't risk at all (unless it would be a very small amount). But many investors didn't look past bitcoin and they became maximalists, so they'll end up with #diedHolding meme on their tombstone.
Out of curiosity, where did you diversify your money ?

I bought ether, dash, and litecoin.  yes, none of them is perfect, they all have their issues.

would have bought some monero too but too much of a pain with the way their wallet structure currently is.

[mining1]

Ok, dash and ltc seem like a good hedge if you don't wanna lose money. But then you could just buy UDST with it. I do recommend you to read about ethereum's short term development. With privacy, scaling and smart contracts it will become an all in one project.

[elebit]

Interestingly, you never see any of the long term holders posting these hopeless threads. Why not? Because they've seen a thousand altcoins die.

If the Bitcoin experiment fails, these altcoins are going to fail as well. There is a reason every altcoin trade against Bitcoin. And why not? Why not use the most available global currency for trustless global payments we have?

Altcoins are for daytraders.

[mining1]

No, you seem like a bitcoin maximalist. Eth has its own market, and about half, depending on day, is traded in fiat.

[Torque]

No, you seem like a bitcoin maximalist. Eth has its own market, and about half, depending on day, is traded in fiat.

So instead of spending time in the Eth forum, you're spending it here instead. You seem desperate to get Bitcoin users to buy Eth.

Wonder why the desperation?

[mining1]

By "here" you mean what ? Even though the name of the forum is bitcointalk, it's not just about bitcoin but crypto and blockchain generally. And it's a public topic.
So, as i suspected, you indeed are a bitcoin maximalist.

[Torque]

On this exact date:

ETH = ~$52
BTC = ~$1035

Let's pull this post up at the end of the year (12/30/2017), and see which one did better.  Shall we?

^{(oh that's right, you'll be long gone by then)}

[mining1]

Even if we talk about the future performance, eth is the one most likely to outperform, as in % increase. But it's not just about that, my opinion is that there's like 25% chance for bitcoin to spiral to death, assuming you don't manage to get out in time. That's the biggest problem.

[york780]

Buying low will give you enough time to get out if needed. BUT btc wont die. It can only die when it doesnt get enough air when its landed on the moon.

[equator]

I think most of the big traders use to do the same thing, i have also done and had good profit. I sold my Bitcoin @ 1150 to 1200 range and that time i had bought ETH, ICN and then i sold ETH and bought back btc @ 1000 range and that way only you can make more profit.