What do you all think of bitcoin?
Do any of you own bitcoin?
What do you see it doing in 5, 10, 20 years?
I had 10 BTC back a few years. I would be able to increase my action at the BJ tables with such a fortune.
Assuming the next 2 Hard-forks work out without any issue (a huge assumption, it will go terribly,) we could see BTC at 10000 USD during the 2020 election.
My bet is actually on litecoin. Litecoin does not have the user/miner greed attached to it. The LTC community is more friendly, (shout-out to Charlie Lee!) and LTC has both Segregated Witness and several implementations of the Lightning Network w/ Atomic Swap validation. LTC also allows more txs per block with block solutions mathematically averaging 2.5 minutes per block, making it closer to Visa (in my opinion!)
LTC is also cheaper, as of now. No telling what the price will do when the first BTC hard-fork commences.
Litecoin does have a great community, but it definitely isn't on the size and scale of Bitcoin. The network effect makes it useful for exchange/commerce which drives the price upwards. Your average person hasn't yet wrapped their heads around bitcoin and it will take even more time and energy to consider altcoins.
Which is why LTC can get SegWit/LightningNet without any hiccups while BTC tears itself apart. There is too much power, influence, and money tied into BTC. A noble software used as a tool, now weaponized by the Few to consolidate power. It makes me mad. BTC is a tool for liberation for all people, not a power grab. Oh, and all the coin holders who use it as a pump and dump store of value also make me sick. I couldn't care less if I lost my potential 50000 USD. All is read is about people hoping to get rich off the system to buy a lambo or to become 'bitcoin millionaires.' Then, when something like the current hard fork(s) occurs, all they do is bitch that they are going to go broke.
"Don't put all your eggs in one basket"
Actually, two hard forks:
There is the split between BTC (Bitcoin Core) and BCC (Bitcoin Cash), and that of BTC and Seg2x (Segregated Witness with block size increase of a factor of 2). The three current BIPs have been 'colliding' so to speak, and the network has voted to split them up. October 25 is when BTC/BCC spits into two chains and November 1 is when BTC/SW2x splits again. BTC will basically birth two new coins due to a lack of consensus on the scaling issue.
If you are on the libertarian-right of social/political thought, this is good as competition drives the market. For all of us who care more about the application and its ability to offer new improvements on the market, this is a complete disaster as it will allow three different implementations that are to be used together.fork
Earlier this year, I bought about $5k worth of Bitcoin, Ethers and LTC just for shits and giggles. The Bitcoin has more than doubled. Not sure about the rest - I don't check it that often. Anyway, you're out of your mind if you don't realize that the whole thing's a bubble. I'm sure I'll regret not cashing out now, but I didn't put that much in to begin with, so I'll go for the ride, wherever it takes me...
Who said - never invest in anything where its value is based on the hope that somebody will pay you more for it than you paid (e.g., gold, etc..).
Sell half and get your money out. You will still have the equivalent of your initial investment working.
Not really on point but my first car was a VW beetle. It was old and I paid $500 for it. My Dad was so pissed I would make such a poor investment. I drove it 150K miles and then, while it was parked, a city tow truck impounding a drunk's car rounds the corner while I am watching. The steering lock on the Cadillac breaks and the car wheels touching the ground switch lanes and the towed vehicle slams my Bug crushing the wheel well and flattening the tire. I was at work and took my fist and beat out the wheel well and then changed the tire. You would never know anything happened to the rust bucket. 10 months later the City must have got worried I was going to file a lawsuit because I hadn't completed my claim yet due to it being so minimal. They offer me $1500 to call the car totaled which was almost 10 times the bluebook. Of course I took it and asked where I should take their Bug. They said I could keep it. Years later I traded my Bug to my mechanic for $800 off a Super Beetle he had owned for a while. My mechanic was a VW master mechanic and spoke with a thick German accent. So after a $500 initial investment, I got to drive almost $200K miles and got $2300 in exchange for the worn-out old girl. And the car was great. It would run no matter what. It couldn't die. The most dependable car I have ever owned.
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