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RE: China bans... Invest in it! Part 2
I'd consider Bitcoin too "obsolete" already to witness a really huge jump. Other cryptocurrencies can, but Bitcoin? I'm skeptical.
I'd consider Bitcoin too "obsolete" already to witness a really huge jump. Other cryptocurrencies can, but Bitcoin? I'm skeptical.
I was as well for long time. Not anymore :) The opensourced and decentralized nature combined with consensus rules means that it can adapt. Adaptations help organisms survive in their ecological niches. And really best of breed developers and developer teams are working on the code. But it can be zero tomorrow, i agree, here is no guarantee for anything. There can be no electricity or no internet tomorrow either. I take the risk.
The price of the "adaptation" of Bitcoin is the emergence of forks like Bitcoin Cash, and if you ask me, these are "hotbeds" for scams and fraud (as a matter of fact, exactly this is happening in case of Bitcoin Cash)
I agree about adaptation but it becomes hard to define when we're talking about systems generating immutable datasets.
btrash is btrash, i dont even waste time discussing that shitcoin. Anyway, softforks are backward compatible, it happened a few times already in the history of BTC. They are hard to achieve not specifically because of immutable datasets, but because of the consensus rules imho. I would say 80% of the top100 crypto is worthless rubbish. Time will tell, this is an unseen phenomenon, hard to draw parallels. As Einstein said: "Only two things are infinite, the universe and human stupidity, and I'm not sure about the former."
Softforks are cool, definitely. If you think those are enough to fulfill the needs when it comes to accommodation, then I believe you.
Definitely, lol, there's no doubt. I'm sure most of them will disappear or become insignificant before the end of the next decade.
Heck, I'm not sure even about the current top5 if can survive for that long. Sustainability needs good governance (among other things) and that is extremely problematic for most coins.
https://twitter.com/CNBCFastMoney/status/950864224569511936
Yes, I've heard about it, but it's hard to choose, who to believe to when it comes to price prediction.
I try to keep a balanced portfolio, 30%BTC, 10%ETH, 30% midcap like steem and my 'love' BLX of Iconomi, ICN of course and 30% risky stuff, MCO, MTL, SNGLS, ... as soon as any goes over my pre-defined limit, i rebalance buying BTC and some cash. I can say this portfolio more or less follows the total market cap, last year was a nice one!
from Jameson Lopp:
Welcome to Bitcoin, newcomers! Here's your FAQ:
Q: Who should I trust?
A: Nobody.
Q: When should I sell?
A: Never.
Q: Is Bitcoin dying because ____?
A: No.
Q: What have I gotten myself into?
A: Nobody knows.
Q: How do I learn more?
A: https://lopp.net/bitcoin.html
Nah, I'd prefer replacing that 30% BTC with XMR. Principle reasons, but still.
Sidenote: MCO is way not risky in the long-term if you ask me. If that project won't skyrocket, I'll be genuinely surprised.