jonald_fyookball (OP)
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March 29, 2017, 03:36:39 AM |
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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.
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coinplus
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March 29, 2017, 04:45:10 AM |
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I hope Bitcoin prevails but I am no longer comfortable keeping all my eggs in one basket.
But I am afraid you may face your eggs broken in the new basket. The rally of leading altcoins seemed phased just before falling back. So close watching is highly suggested. Today I read another group of people tried for bitcoin ETF and got the same consequences what Winklevokoss faced. I guess some people by "somewhat " will make bitcoin ETF into reality in very near future. I feel just holding bitcoin is more safer for me.
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Yuuto
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March 29, 2017, 04:52:20 AM |
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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.
Honestly I feel the same way. A lot of others are also hedging against a potential bitcoin collapse altogether by protecting their wealth and buying into altcoins such as Ethereum, Dash, and Ripple. Even though am I a strong believer of bitcoin, just like OP, i cannot help but try to be the safest with my funds. I'll be diversifying probably 30% of all my bitcoins into altcoins. I hope bitcoin can sort itself out this time round, and end this debate altogether. I don't care which side wins, honestly. As long as we have a working payment processor without the debates.
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Holliday
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March 29, 2017, 04:59:18 AM |
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Good lord man, are you getting paid per thread or are you just a special snowflake who needs constant attention?
No one cares.
Good luck buying coffee with your altcoin BTW! Bahahahahahah....
The logic is fucking brilliant. Bitcoin blocks are too full and fees are too high to use it as a daily currency, so I'll sell my bitcoins for an altcoin that no one anywhere accepts (or will ever accept) as a currency.
Hahahahahah... oh lord.
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If you aren't the sole controller of your private keys, you don't have any bitcoins.
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The Sceptical Chymist
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March 29, 2017, 05:00:43 AM |
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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.
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Ted E. Bare
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March 29, 2017, 05:05:46 AM |
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At the same time the demand for bitcoin is increasing and real world applications are more numerous than ever. This is arguably the worst time to decrease your position. Good chance you're sitting on a profit anyway, why not ride it out?
It is happening. The future will be decentralized. With or without you.
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xypos
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March 29, 2017, 05:16:01 AM |
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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.
Yes, never put your eggs in one basket. But if you want to hedge, i am not so sure about hedging bitcoin losses with altcoins because bitcoin sometimes can go against the general altcoin price trend, but in other times if there is an attack of a critic on cryptocurerncy in general then the altcoin prices can fall as well. I think that buying some options or simply hedging using fiat is a good idea. Or you could place bets against long positions, such as buying bitcoin and placing a bet on fairlay which predicts that bitcoin price will fall down to a certain level.
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HabBear
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March 29, 2017, 05:18:57 AM |
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At the time, it appeared that BU was gaining serious momentum, but now we appear to be deadlocked again.
Notice how neither segwit or BU can win the mining war... and that is exactly what 'they' want.
Where are you watching all of this play out? What's your source for the moves of this dance between BU, seg, and BTC? And where are your hedges?! Come on, give us the juicy details!
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jonald_fyookball (OP)
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March 29, 2017, 05:25:40 AM |
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Good lord man, are you getting paid per thread or are you just a special snowflake who needs constant attention?
No one cares.
Good luck buying coffee with your altcoin BTW! Bahahahahahah....
The logic is fucking brilliant. Bitcoin blocks are too full and fees are too high to use it as a daily currency, so I'll sell my bitcoins for an altcoin that no one anywhere accepts (or will ever accept) as a currency.
Hahahahahah... oh lord.
You should be happy about this ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Now that I have some ether, I'll likely not care as much about trying to talk some sense into people like you that think they're smarter than Satoshi.
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HabBear
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March 29, 2017, 05:29:28 AM |
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Now that I have some ether
Don't let the trolls get to you. How much did you get in at? Big buy position or building up slowly?
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European Central Bank
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March 29, 2017, 08:35:44 AM |
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Alts ain't for hedging as far as I'm concerned. They're for gambling.
If you're looking to diversify your retirement fund you don't walk into a casino and throw everything down.
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afbitcoins
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March 29, 2017, 09:32:00 AM |
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In this climate it seems a good move to diversify into alts but beware of pump n dumping shitcoins. Go for established ones. My favourite is Dash but I'd be cautious of that too after how much it has risen lately. Same goes for eth (which I don't like personally anyway) To me litecoin looks quite good at the moment, its very established, accepted on lots of exchanges, and price still depressed.
In general I think a healthy market for alts is a good thing and much preferable to using sidechains and such nonsense on the bitcoin blockchain. This is the free market working to help resolve bitcoin scaling problems. I think bitcoin doesn't need to scale but needs to forget being currency for buying coffee, lets alts pick up that role. Bitcoin can be great as the reserve of crypto and a premium settlement layer and store of value for large transactions.
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kehtolo
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March 29, 2017, 09:45:06 AM |
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Alts ain't for hedging as far as I'm concerned. They're for gambling.
If you're looking to diversify your retirement fund you don't walk into a casino and throw everything down.
Exactly. Altcoins are pump and dump. A casino. You see the rises, +300 +500 +3000% and think wow, bitcoins is going down, civil war BU Core bad for price. And think, I want in on that action. You are too late, you will be scammed. All the rises that took place happened a few days ago. You missed it. Entering now is far, far more dangerous than it was last week. The smart money at that casino has already taken their chips off the table. That is profits in.. what? *Drumroll* --- BITCOIN. And that is the only reason anyone trades alts. To (hopefully) increase the number of bitcoin they have. If you want to do this, its a good idea to get in before the pump has started. Not when it is finished or nearly finished. All that happens next is the price drops down on these coins. Especially the thinly traded ones. Just a word of warning.
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The next 24 hours are critical!
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afbitcoins
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March 29, 2017, 11:29:20 AM |
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Alts ain't for hedging as far as I'm concerned. They're for gambling.
If you're looking to diversify your retirement fund you don't walk into a casino and throw everything down.
Exactly. Altcoins are pump and dump. A casino. You see the rises, +300 +500 +3000% and think wow, bitcoins is going down, civil war BU Core bad for price. And think, I want in on that action. You are too late, you will be scammed. All the rises that took place happened a few days ago. You missed it. Entering now is far, far more dangerous than it was last week. The smart money at that casino has already taken their chips off the table. That is profits in.. what? *Drumroll* --- BITCOIN. And that is the only reason anyone trades alts. To (hopefully) increase the number of bitcoin they have. If you want to do this, its a good idea to get in before the pump has started. Not when it is finished or nearly finished. All that happens next is the price drops down on these coins. Especially the thinly traded ones. Just a word of warning. Each to their own, but for me trading alts has been a very good move. You do need to know what you are doing though. edit: I'll qualify it a bit, its not so much trading in my case. Rather I'd describe it as researching first. Find some crypto(s) with fundamentals you believe in and are willing to hold long term. Make sure you are able to hold them securely off the exchange so you are protected in event of govt intervention, hack or whatever and also less tempted to trade badly. Wait for a good price point to start accumulating, ie don't buy when it is rising 100's of % instead wait until after a fall daily MACD looks to be turning back up. Wait patiently. When it starts looking overbought, take some profits (add to another coin, maybe bitcoin or another).
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NeuroticFish
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March 29, 2017, 11:36:44 AM |
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I hope Bitcoin prevails but I am no longer comfortable keeping all my eggs in one basket.
This is a very good call, just your timing is pretty bad. Watch closely the market movement, some alts were pumped while there was the "fork uncertainty" and now a dump may happen. Make sure you don't buy right before a dump ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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jonald_fyookball (OP)
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March 29, 2017, 01:02:44 PM |
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I hope Bitcoin prevails but I am no longer comfortable keeping all my eggs in one basket.
This is a very good call, just your timing is pretty bad. Watch closely the market movement, some alts were pumped while there was the "fork uncertainty" and now a dump may happen. Make sure you don't buy right before a dump ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I understand the timing is bad from a TA standpoint with the alts being expensive, but since BTC still $1000, makes sense for me. If alts are dumped because certainty resumes with BTC, i'll only lose a little on the hedge but gain on BTC.
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mindrust
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March 29, 2017, 01:08:06 PM |
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Very shitty idea. You can't trust altcoins. Nobody can. Most of them turned out to be scam, and it won't change in time. Investing in altcoins is no different than playing dice.
If you are going to hedge yourself, hedge in FIAT or Gold at least. The term "hedge" is being used for protection/precaution. Investing in altcoins is not a protection, it's a higher risk.
If you want to protect yourself from the risks of bitcoin, you hedge yourself by investing in safe assets. Not pump&dump scamcoins.
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Torque
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March 29, 2017, 01:12:09 PM Last edit: March 29, 2017, 01:23:27 PM by Torque |
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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/
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Darkbot
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March 29, 2017, 01:37:06 PM |
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Jonald_Fyookball has been warned many times, even after making walls of text how great BU is this noob finally realize that BU is a scam afterall.. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Jonald is an active r/btc memeber, all those noobs leaving there sinking ship for....ETH...LOL and they bought at the top
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jonald_fyookball (OP)
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March 29, 2017, 03:02:11 PM |
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Jonald_Fyookball has been warned many times, even after making walls of text how great BU is this noob finally realize that BU is a scam afterall.. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) Jonald is an active r/btc memeber, all those noobs leaving there sinking ship for....ETH...LOL and they bought at the top sigh...no its blockstream that is the scam. BU just wants to fix their mess. believe whatever you want though
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