Let's Argue: Own 1 BTC First, THEN Play With Altcoins?
Litecoin creator Charlie Lee recently tweeted that before investing in ANY altcoins (including Litecoin), one should try to get hold of 1 Bitcoin first because of the scarcity of BTC.
I'll be discussing that in this video, and whether I agree with his opinion.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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I tend to agree with this advice. It’s a safer way to go when you’re just getting started. And that’s who this advice is meant for, beginners. Anyone who’s been in this space longer than a year probably already has more than one BTC, and they did have to pay near as much for it. Today, people trying to buy alts first because they’re “cheaper” is a mistake not accounting for the many variables that go into valuing a project. All in all, good advice that will keep the losses to a minimum when getting started.
I also agree. Considering that this is meant for beginners who don't know anything about cryptocurrencies, bitcoin is probably the easiest to understand. Getting 1 BTC nowadays it 's expensive enough for you to take your time and do some research and get some knowledge, which will help you to make better decisions in the future when you want to get into another coin. "Cheaper" is definitely not better in this case.
Does it even matter? the entire crypto space has been garbage all year with no signs of life. the longer this persists, the more likely that everything goes to zero or never recovers....it will take an enormous about of good news and rallying to get mainstream investors interested, otherwise crypto is not worth the risk, why buy something that has crashed and has been essentially flat-lining for a year? without mainstream investors being interested, and with the backing by investment funds etc crypto is not going anywhere.
#that why bitcoin been going up. Bitcoin is getting ETF soon.
Probably gonna get rejected, just saying!
I agree with the approach as it is the ultimate blue chip like asset in the market. The potential ETF approval could limit the supply of BTC even more so price could definitely have a floor going forward. An additional consideration is that bitcoin network is undoubtedly the more secure protocol given the history of its ledger and hashing power.
It's very old tech though!
I am not fully agree with Charlie Lee. The simplest thing for the beginners is to take 1 BTC and after then sale during bullish period and grab some new low price good coins during bearish period
I agree with Litecoin creator Mr. Charlie Lee. Bitcoin is always hotcake in crypto market as it's limited and most valuable coin. So if we can hold atleast 1 Btc then we can easily trade or investing in crypto platform. Thanks sir @louisthomas for the informative and educative crypto analysis. Eagerly waiting for the next content.
Well BTC is the most valuable coin because of the innovation and revolutionary approach it implemented. Just look at how many projects derived from it, how many ideas were born in other brilliant individuals based on that very whitepaper... Also, having the first mover advantage makes BTC more likely to be accepted by merchants than other smaller coins.
ineretsing information, we have to invest in this, technology and the great future
This is because Bitcoin is been taken as an official global currency and also been the grand Master of all crypto currencies . Bitcoin has now be regarded as a store if value and also as a means of global exchange
My ETH investment gave a bigger return ratio than bitcoin last year. Wish I had gone all in on that one.
Then you are obviously in Stellar Lumen (XLM) now!
Good information for those onvesting in crypto currencies. BTC is a secuirity. If you have 1 btc then you can trade in any coin. You can invest in currencies are going up. If you want to trade then must have atleast 1 btc necessory.
I agree with the approach yaving 1 btc. Before investing in cryptocurrencies it's crucial to know the fundamentals and keep up on regulatory attempts. Byc is more secure network. So having 1 btc make that trading easier. So btc is the mother of all crypto currencies.