Trying To Get In On The Next Bitcoin Will See You Lose Out on BTC
Hey Jessatoshis
Bitcoin’s launch, while quiet for the formative years, has continued to grow from strength to strength, not always in a straight line, but we can see the overall trajectory. As the price continues to increase in dollar terms with HODL'rs refusing to sell and as the stock to flow model plays out.
As the price increases, Bitcoin holders are seen by many as wealthier. The fiat value and unit bias tend to drive new users away from Bitcoin as they feel they NEED to own a full Bitcoin and are now effectively priced out of the market.
Instead of trying to secure a place on the Bitcoin blockchain, the unit bias pushes inexperienced traders into altcoins with a more palatable unit price.
I totally get that thinking; I was there too. I also tried my hand at shitcoining, and I was burned and found my way back to Bitcoin.
Replicating Bitcoin
It's an unspoken idea, but I can see it in the way people speak about altcoins; they think buying something for a penny will eventually be worth thousands, the same way those early Bitcoin HODL'rs have been rewarded, but this simply isn't true.
Many of these coins are manufactured and managed via market makers and internal parties to ensure that value is migrated to early users in a sinister manner.
Chasing these coins will only see you lose in several ways.
- You miss out on securing Bitcoin
- You miss out as coins increase in fiat value but break down in satoshi value
- You miss out on the additional taxable events you have trading these coins
- You miss out with slippage with the more illiquid markets
- You miss out on these coins. Inflation rates are unpredictable.
Your models of value are broken
Bitcoin is still range-bound now but each halving pushes it into a new level that altcoins simply cannot compete with since they don't have a superior monetary policy.
Many don't see it now because they measure altcoin value in fiat, but as you continue to measure them in Satoshi value y
You'll see they are breaking down and will continue to break down as Bitcoin moves to new heights gobbling up more of the worlds purchasing power as a store of value.
I know it's hard to see the truth through all the noise and misinformation and we will all have different paths, but for me, the path of Bitcoin becomes clearer the more I learn.
I know a lot of people won't agree with me, and that's fine place your bets and let the market decide who made the superior decision.
Have your say
What do you good people of HIVE think?
So have at it, my Jessies! If you don't have something to comment, "I am a Jessie."
Let's connect
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I think we all fell into that trap of trying to get in to the next moon coin with alts once we saw BTC take off. Seeing the fiat value increase is one thing but when you look at the sats value and it's less... Totally different. Especially when you view things through an orange tinted lens
altcoiners want to talk decentralisation but they still holding on to a fiat mindset in so many ways that it's hard to understand I think it's a membrane that can capture you and keep you in the fiat systems since the whole point of alts is to jump in and go back to fiat
If you are in alts id say look at securing it in something harder like BTC, but yeah to each their own. I am not here to debate, I don't care what coin you like, or want to shill. Sometimes I feel I am too much of a cheerleader for BTC and don't rip into it enough but I think altcoiners don't do that at all, their coin is always bullish lol
From what I have heard about the doubling model, I think 50k might be the low during the next cycle. So who knows whether or not it will be lower or higher. The markets tend to be really unpredictable but there will be less BTC in the hands of the miners next cycle.
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It;s not a perfect redistribution model but it's far better than fiat and a lot of what the altcoiners are doing, they are more an private equality setup then a currency setup. I am not saying alts cant go up against BTC short term but long term all their models will break down in my opinion and your coin will continue to be worth less in Satoshi valule
"I am a Jessie." and looking forward to a long weekend and to buying some more Bitcoin in the Sunday dip. 😂
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How do you know it will dip on Sunday? I'm glad to hear you're getting more and more orange pilled :)
Time Machine. 😂
!ENGAGE 10
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LOL well I'll put some money aside for this Sunday dip
ENGAGEtokens.Lol, an orange Jessie no less! Happy sat purchase day! I'm surprised you don't do it on a Saturday 😀
I've been watching the figures for weeks now and if it dips on Saturday it dips more on Sunday.
I've put in lots of tiny limit orders that I thought wouldn't get filled. Most of them got filled at the weekend rather than during the week and more of them got filled on Sunday than any other day. 😁
!ENGAGE 20
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Lol, ok, I was going for the pun take but either way, you're winning by acquiring more sats so nicely done!
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ENGAGEtokens.I have money in both BTC and other coins, so I don't feel too badly about where I am sitting right now. I have made some mistakes in the past with putting money into other areas when I should have just put it into BTC, but you can't really go back and change it, so no big deal I guess. I understand what you are saying here.
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I'm not saying stay away from digital assets do as you please NFT, shitcoin do as you please I am just saying how I think it plays out, I could be completely wrong, but based on what I've read I can't see how these digital assets are anything more than decentralised theatre. Eventually the VC money runs out and we'll see many of these coins and chains shut down
I think many of them will shut down, but I also think there are a fair number of them that have a sound foundation and a good roadmap. They will be sucessful.
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I just don't see it to be honest, you can check sites like dapp radar less than 400k people are using any of these things, its so tiny, it hasn't caught on and I can't see how it catches on many of the products aren't better than centralised versions. I don't buy the whole this is the next tech sector invest now and in 10 years it solves something we yet to realise
I guess we will see.
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