I am skeptical about my position on bitcoin because of the current circumstances. Yes, the market share has gone under 45%, but the fees and transaction times are continuing to get worse. Since litecoin and ethereum have no issue with either of these I think these have a big potential to grow. Additionally, Bitcoin is commonly used as an exchange medium for most alt-coins but I wonder how the recent rise in fees will affect this. More and more I believe that ethereum will be the go to for exchanging alt-coins. Lastly, I am quite bullish in Ripple at the moment because of the continued banking and media support that has come within the past week. You said in your video that you are scaling back on your position in almost all alt-coins, I am wondering if Ripple is one of these. I absolutely love your content and will continue to support it, keep up the amazing work.
RE: Attractive Bitcoin Opportunity Over Altcoins
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Attractive Bitcoin Opportunity Over Altcoins
Thanks for the kind words. Yes, Bitcoin sucks right now for transactions. But majority of transactions are internal to exchanges, which is why it continues to dominate even though it has absurdly high fees and slow transaction times. It's difficult to disrupt that paradigm - Ether has attempted to do so for quite some time with limited results, at least in comparison. As such, it will likely remain king as the cross-currency of choice for most pairs.
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I've noticed this as well and found that ETH was better as an exchange medium. It feels painful when I need to transfer BTC so I go the ETH route these days. Yes, very good video and has me thinking how I should proceed.
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