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

[pooya87]

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)}

if bitcointalk had an activity bar chart for days in months like the one it has showing hours in the stats in the profile, we could see which weeks mining1 is most active.
hint: it was not when ETH was dumping to $9

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[afbitcoins]

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.
   

Looking good so far 

[jonald_fyookball]

dammmmn litecoin just popped.

[alyssa85]

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

Doge is holding up splendidly in dollar terms...!

[Qartada]

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

Doge is holding up splendidly in dollar terms...!

It's unlikely to in the long term though.  Doge has had a slight recovery since its huge dump, partially because of the general rise of altcoins, but it won't last.  Doge is dead anyway.

[iamnotback]

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

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

Did you buy LTC?

Re: Litecoin has potential. Beyond $50?

Did you read my analysis  

i am not intelligent enough to take it all in. you know way more than me. i just call it how i see it.

The game theory and economics is such that SegWit softfork (necessary for enabling the scaling of Lightning Networks) can't be enabled on Bitcoin. Stalemate is the indefinite status quo.

Litecoin (at its current market cap and situation at this juncture in time) has different game theory and economics, thus it hypothetically can enable SegWit and get rolling on scaling.

Ostensibly I threw out the hypothesis that the whales and miners have been (as quietly as possible) accumulating (both LTC and Scrypt ASICs) in order to prepare for a massive upward revaluation of Litecoin as the scaling option to Bitcoin's strict small block future.

This is very speculative (and rushed) analysis and lacking thorough due diligence.

[megashira1_is_hacked]

What are peoples experience with USDt? Do you believe it to be safe?

[maku]

getting its way = little to zero on chain scaling in the forseeable future.

If Satoshi wanted everything to be done on-chain forever he wouldn't invent gradual block subsidy decline/mining reward halving.
We are having cheap transaction fees because there is block reward still being distributed, namely transactions are subsidized by the block rewards.

[tabnloz]

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/

Agree. I've never sold any of my btc, however I put a few hundred into a handful of alts when they were disliked. XMR in July 2015, ETH in Jan 2016, LTC when it was hovering around $3 - $3.5. Also a couple others.

Only the coins I can see sticking around for a while and that have a *possible* future use.

My main reasoning is that if the cryptoeconomy expands, so will the caps & price of these coins.

Lets see in 5 years.

[jonald_fyookball]

getting its way = little to zero on chain scaling in the forseeable future.

If Satoshi wanted everything to be done on-chain forever he wouldn't invent gradual block subsidy decline/mining reward halving.
We are having cheap transaction fees because there is block reward still being distributed, namely transactions are subsidized by the block rewards.

Who said everything needs to be done on-chain forever?

I'm sick and tired of these bullshit all-or-nothing arguments.

No, we don't need to be on-chain forever... and we don't need to plan a century in advance either. 

[Torque]

I guest all of you geniuses that have divested into every shitcoin imaginable have never cared about things like merchant adoption, global acceptance, and all that, you know, really important cryptocurrency stuff.

Only ONE coin is talked about most in the worldwide news.

Only ONE coin has the MOST merchant adoption (hell, 99.99999% of alts have ZERO).

Only ONE coin has anyone even TRYING to get it considered for an ETF.

Only ONE coin has been around for 8 years, still going strong, the price higher than it has every been in its history.

Only ONE coin has wealthy people buying millions of $$$ worth as a long term investment :
https://gemini.com/auction-data/

Only ONE coin is being traded around the world on EVERY exchange.

Only ONE coin is being bought vigorously off-exchange around the world:
https://coin.dance/volume/localbitcoins

And that coin is Bitcoin.

Everything else is a wannabe for troll trading fodder.  History will prove this out.

[jonald_fyookball]

Mostly agree, but Bitcoin is not invincible. 

Right now it is on the decline in terms of marketshare and utility,
and major companies like Dell and Fiverr stopped accepting it,
so we're possibly going backwards in terms of adoption.

Does this not concern you?

[Torque]

Mostly agree, but Bitcoin is not invincible.  

Right now it is on the decline in terms of marketshare and utility,
and major companies like Dell and Fiverr stopped accepting it,
so we're possibly going backwards in terms of adoption.

Does this not concern you?

Concern me enough to think that a shitcoin up-and-comer could do better?  Or even get to where Bitcoin is now?  And do it soooo effortlessly, without all the trials and tribulations that Bitcoin has already gone through?

Nah, I'm a lot brighter than that.

This is what n00bs will end up doing if they keep jumping off one train (Bitcoin) for another supposedly "better" altcoin, because they don't think that things are moving fast enough in Bitcoin land. And they will continuously lose money and fail each time they do it.



Remember, a new form of worldwide money, if is to be successful, will need to be around for decades.

DECADES. Not just a year or two.  DECADES.

[ImHash]

Might as well gets trashed by mods.

[Seansky]

If I were you though, I wouldn't use the word hedge in an altcoin unless you buy altcoins that rarely moves up and down in price like doge. It was a nice call though but I think it was too late for you to invest on ethereum right now that it has been pumped real hard to 0.05+ BTC. Because of the big pumped that happened to eth the risk of it falling down in price this week or another was greater than any of those altcoins around now.

[smoothie]

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.

In either scenario it is never a good idea to keep all of your eggs in one basket even in your most ideal situation.

[Qartada]

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.

In either scenario it is never a good idea to keep all of your eggs in one basket even in your most ideal situation.

But if you hurl your eggs at 50 baskets made of steel they're not going to last very long.  There aren't actually a lot of stable altcoins and even the stable ones are bad to invest in right now as they're in the middle of big pumps and are unlikely to go much higher.

[jonald_fyookball]

woooah whats with all these altcoin blings that started appearing?  good april fools joke theymos

[aardvark15]

It's funny how Dash and Etherium were hot a few days ago and now it's Ripple. I wonder how high Ripple could go and will it drop back at some point.

[jonald_fyookball]

It's funny how Dash and Etherium were hot a few days ago and now it's Ripple. I wonder how high Ripple could go and will it drop back at some point.

Ripple isn't a real crypto imo.