Bitcoin is a speculation currency
If you are not a trader but a simple investor like me, I would highly recommend avoiding speculative currencies. Look at this insanity:
You can win or lose a lot; but this is not different than gambling. And you know what they say, you'll always eventually lose if you gamble.
I rather recommend investing in the long term; particularly to the coins that generate real value in the world. It'll take time for them to become independent from Bitcoin; but once they do, they'll be much less risky. So far, I like these coins:
Steem: Powered by its users, based on content value
JSEcoin: It allows browsing without ads thanks to browser mining (amazing idea!)
SiaCoin: Allows you to lend your extra storage space
BAT: Again, it's about utilising consumer attention without disturbing ads
What are your favorite altcoins in the long term? Write in the comments!
DO NOT! I REPEAT DO NOT ... Avoid Bitcoin... 😁
Avoid if you are not well informed. Short term ups and downs are dangerous for a less educated investor
This is not gambling. The technology that underpins bitcoin is real and the currency itself, while volatile, is legit as well.
Please do more research on the subject.
Ask yourself this: Given the choice: in 5 years, would you rather have 1 bitcoin, or $3500?
I don't know what will happen in 5 years. It's likely that bitcoin will grow more than its value today, yes; but
Long story short; if a company is traditional, they won't accept BTC. If they aren't, why would they use an inferior technology when better alternatives exist?
In the long term, it will be obsolete. But yes, in the short term, it might earn (or lose) lots of money to greedy investors.
"Greed" is a subjective term...frankly...I look at the stock market as legalized gambling...any market where money is chasing something to make more money...becomes over priced subject to crashes...many of us are just average schmucks trying to squeeze out a few extra dollars with our investments in an environment where an exciting bank interest rate may be 1% on your money...a stock market manipulated by exchange funds and bots...inflated by the USA dollar printing press ...and crushed by commodities speculation or strange investment securities like mortgage back split derivatives....so to have something like crypto currency...a decentralized truly "free" market...its exciting...and like it or not...bitcoin was the leader...its basic utility is understood for what it is...its the "base" currency on which all other coins are valued...its long term existence is better known and its become the "face" of the crypto coin market...no doubt other coins as you mention have a much more technically useful future...but just like stocks and bonds have different investment purposes...so can different coins...to each his own...
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