You Don't Need Bitcoin

source

I am not a Bitcoin maxi or an Altcoin maxi as I believe they are both worthwhile investments. My bet is certain crypto's will outperform Bitcoin long term from this point mainly due to the real every day use cases they offer. I am not talking about cryptos in a set eco system, but ones that actually have to be purchased in order to perform a function. Logic and common sense lead me to these conclusions and why I will stick to this belief.

A prime example is holding VET as that generates the gas token VTHO which is the token required to transact on the VeChain. Without VET you would have to buy VTHO on the exchanges in order to process your business or personal requirements. Holding VET would be the preferable option as you would just generate your needs daily and thus the demand will rise especially for companies needing VTHO. This is a genuine use case due to having to have the token and why the price has to outperform Bitcoin long time. A crypto worth a few cents has the room to multiply unlike Bitcoin as it has already created value and will not do a 1000 x from here. Forget market caps as that is tossed out the window when it comes to real use case crypto.

The truth in order to be successful in crypto one needs to have a diversified portfolio and not the all the eggs in one basket scenario. This is how we spread our risk by having multiple investments. Back in 2010 buying Bitcoin was your only option and would have been a profitable one if you held onto your investment.

13 years later having Bitcoin is still a good idea, but not necessarily a must have crypto. I am hoping the prices still come down some more and maybe will entice me to try and buy 1, but my priorities have been fixed on other projects which I see as bankers for making a decent return. Who knows if the price does drop to a realistic bargain price then I most likely will scoop some up as I do have the funds overseas sitting waiting for the just in case scenario.

Don't get me wrong as I am in the camp that believes Bitcoin will be worth more than $1 million in the future even if it is in a few cycles time it will get there. That would be 50 x or so from where we are now and why I believe in other crypto projects first before Bitcoin. Bitcoin has never been a priority even though it would be great to own at least one.

Bitcoin I see mainly as a store of value and nothing else whereas other projects have real every day use cases. This I believe is where the real crypto value is going to be generated and 50 x the current price would be a disappointing outcome. This is why I am not sold on the idea 100% even though I know Bitcoin will do the 50 x in the future.

You can hold a Bitcoin or hold the equivalent in value in another crypto and come out far ahead of Bitcoin long term. Just looking at Hive because we all know and understand the project so well what would the price of Hive be when Bitcoin hits 100K or 200K? We saw a $3.41 ATH after Bitcoin hit $69K so surely $5 or 410 has to be on the cards within the next cycle. this is not guaranteed but then nothing is and why backing the right projects along with being diversified is that important.

I also tend to think decisions are made depending on the size of your budget as purchasing Bitcoin could leave you very short for everything else. I am not one to follow the crowd as doing the research is what makes me select my investments. This strategy I believe is the smart way of investing as the hope is everyone will come to your investments once they see the price moving.

Posted Using LeoFinance Beta



0
0
0.000
9 comments
avatar

Yeah, I agree, BTC is great, but it just doesn't give you the passive income stream that some of the other tokens do. Building up something that can sustain you long term should be the goal. I'd like to hold at least one BTC some day so I can use it as collateral or something like that. I'm not even close at this point though.

0
0
0.000
avatar

A crypto worth a few cents has the room to multiply unlike Bitcoin as it has already created value and will not do a 1000 x from here.

I get your point but this doesn't really mean much by itself. You can have a coin that's worth a cent but there's a trillion of them in circulation. That coin won't have any more room to grow than BTC. Price doesn't mean much without knowing if a coin is being overvalued or undervalued.

0
0
0.000
avatar

All very true and why your research is important as it includes tokenomics.

0
0
0.000
avatar

The idea that Bitcoin could go to $10M in today's dollars is ridiculous. It would require too much energy that has many better uses. Each Bitcoin market cycle will be more compressed compared to the previous one.

0
0
0.000
avatar

Yes I don't see this happening either, but $1 million is very possible.

0
0
0.000
avatar

I have been thinking about this day and night because now that I will start to have liquidity that I dont need, first time for me, Im planing to put 50% of it on Bitcoin but when it comes to price performance compare to some alts I still question if its the best option although Im only doing it for safety, the other 50% goes into alts divided equally, I already hold a few projects like ADA, VET, CRO, ALGO, LINK the only one Im planing to get rid for long term is CRO, dont want any exchange token anymore

0
0
0.000
avatar

Congratulations @cryptoandcoffee! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

You got more than 28500 replies.
Your next target is to reach 29000 replies.

You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word STOP

Check out our last posts:

Keep Hive Buzzing - Support our proposal!
Our Hive Power Delegations to the February PUM Winners
The Hive Gamification Proposal
0
0
0.000
avatar

This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.

Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.

100% of the rewards from this comment goes to the curator for their manual curation efforts. Please encourage the curator @bhattg by upvoting this comment and support the community by voting the posts made by @indiaunited.

0
0
0.000
avatar

Honestly, you have a valid point
I wonder why some people will invest in only Bitcoin when there are other cyptos out there. Well, it is their preferences but we should not forget to diversify as you have said.

0
0
0.000