Why I don't own any Bitcoin at the moment.

in #cryptocurrency7 years ago (edited)

Hey guys,

Today is the day where I reached 110% ROI on my investment and this being all in with altcoins.
Mainly thanks to the recent rally of Litecoin, IOTA and Ethereum.

When I see the crazy hype around Bitcoin, no wonder for me why I don't want to own any.
Some of you might think I'm crazy, that Bitcoin is the king and all the rest is shitcoins.

Well most of those shitcoins have much better technology than Bitcoin itself.
Bitcoin technology is so far behind compare to some coins.

No-Bitcoin-Allowed.jpg
Haha =D

Yes Bitcoin is the big Brand for the crypto world and kind of the window but I don't think it will last forever.
Yes it could go up to 100K$ per coin but I rather prefer invest in start-up that I think they have a huge potential and a strong technology behind that solved a real problem.
I don't need to invest in a storage value coin or "the digital gold" when gold already exists.

Because, once the crypto will reach the mass adoption, coins will become useful.
Means common people will use coin to buy, to store, to create, to use, to have private transaction etc etc

And why using a useless coin on a daily basis when somewhere else, there are much better choice ?

You know, when you have a big company with the monopole, they tend to not deliver the customer service that we expect. And then smart competition arrive on the market, and they lose a big chunk of their customer if they don't change their strategy.

That's what I think it could happen. Once the speculation and the hype will burst, only the real value of the coin will remain. And the real value is based on the technology, its utility and its community.
Yes the community is great behind but for how long? And what about the technology itself ?

How Bitcoin can be useful on the daily basis for the mass if it is even more expensive regarding transaction fees than banks?
How? When it takes as long as the banks to get your money?
If they don't change their strategy, Bitcoin could not be the king anymore.

I won't tell which coin could take the first place as it will be only speculation but we all know that they are better start-ups and teams out there.

So, that's the main reason I don't own any Bitcoin. I feel like I'm the black duck as everybody around are jumping into BTC to not miss the swings.
Well time will tell us if being crazy brings healthy profits =D.

Let me know your thoughts and if you own or not own Bitcoin and your reasons. Will be good to have opinions and discuss about it =)

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I've been saying that bitcoin is the Yahoo! of finance. Don't know who will be the next Google of finance, but after Yahoo! came the search engine wars. This is akin to the altcoin market. Market cap will begin to spread out across the alts next year as long as bitcoin fails to scale up without forking.

I'm with you my friend and I hope it will be the case. But I don't want to see Bitcoin dying neither so hopefully they will react smartly =)

Am with you here. I must say, for now Bitcoin is on the throne, but eventually somewhere something will happen.

So, am with you when you say: let's discuss!

For now it is indeed. Because new investors, new money, big brand Bitcoin. Those guys have no clue what's behind bitcoin they just want to make money on the go.
Once we will get rid of those new people and new money, the real value will remain. And not sure what to expect if they don't change their way to handle transactions.

Bitcoin technology is wasting electricity for mining, consuming as much as a small country. Some power stations are polluting the environment.

It's an other argument against Bitcoin yes !

I don't own any Bitcoins either. And at the moment I feel like it is a terrible investment. I agree with you, the other coins have better tech. And it is so incredibly hard to move Bitcoin because of transaction fees and the capped blocksize.

Indeed it is, it's terrible ! Long life to altcoins =)

Becouse I dont have money 😭

This post has received gratitude of 1.06 % from @appreciator thanks to: @jlcrypto.

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