Thoughts on the next Bitcoin for Crypto Investment
Hello,
With Bitcoin now having a huge backlog, the transactions are beginning to take longer and have higher transaction cost I am losing confidence in the future upside of this currency.
http://www.trustnodes.com/2017/05/11/bitcoins-transaction-backlog-hits-all-time-high-fees-skyrocket
Many investors/companies have identified this as a challenge as well and are beginning to align with alt coins - Ethereum, Ripple, litecoin, etc. I was wondering what the steemers take is on this, and what you think is the next big investment.
I have placed my bets on LiteCoin and Ethereum - looking at a 3-4 year horizon, expecting 10x-100x returns.
Eager to read your comments.
Bitcoin isn't going anywhere! Another currency will come and overtake it for a bit, but once it is in the spotlight and gets the exposure it'll succumb to similar issues and perhaps fail. Bitcoin is truly decentralized and that's one of its strongest features.
The Ledger Nano S (https://www.ledgerwallet.com/r/fed9?path=/products/1-ledger-nano) is a hardware wallet that I have and it is so cool... it stores Bitcoin, Litecoin, Dash, Ethereum, and others so it might be worth checking out for you since you've got some Litecoin and Ethereum and expect it to be worth a lot.
My private keys are totally secured offline and no one has access even if my computer is compromised. Absolutely no worrying about my coins being stolen! I don't have to remember passwords, don't need to back up, don't need to worry about viruses and I can take and use my bitcoins anywhere!
Also, wanted to know what platforms/wallets you are using to purchase altcoins. I am currently using coinbase and they charge a fee of minimum $2.99 for transaction up to $200, and it increases and is a %age (around 1.5%) of transaction amount.