RE: RED ALERT - Mt. Gox 2.0 Brewing - Bitfinex May Be Issuing Unbacked Tether To Paper Over Banking Service Loss - What We Think We Know (Part 1)

You are viewing a single comment's thread from:

RED ALERT - Mt. Gox 2.0 Brewing - Bitfinex May Be Issuing Unbacked Tether To Paper Over Banking Service Loss - What We Think We Know (Part 1)

in bitcoin •  7 years ago  (edited)

You should probably check out my comments above. This post is not intended as serious financial advice, but a warning. You'll note I said no crypto was going to be safe in such an event. Considering Bitcoin is indeed a shit-coin now, I had to defend that statement at least a little.

I just gave you fundamentals and rumors for why BTC is a sell, and one option to buy. Do with that what you will.

"If Bitcoin is not a shitcoin, why do (almost? not even sure I need the qualifier...) all the other top coins have faster transactions AND lower fees? Why is Bitcoin worth 8x what it was a year ago, despite performing all of its functions more poorly (other than speculation?) Did the whitepaper say "Casino Shitcoin" in it somewhere that I missed?

I was BTC's biggest proponent for most of its life, while it had fast transactions and almost no fees. Now, I can't throw a dart at CoinMarketCap without hitting a crypto that has BOTH faster transactions and lower fees. We're typing across the platform of one right now.

FWIW, I think there are many options better than Bitcoin Cash on fundamentals, but the market is not always huge on fundamentals. Monero is one. If you're ok with higher risk, there are many more worth considering.

What you call bias, I correctly call telling it like it is. The fact that Bitcoin Cash is the best current alternative to fulfill the market's fickle need for name recognition and network effect, and the fact I have put my money there, does not detract from the obvious points of fees and transaction times."

bitcoin
7 years ago by

Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

  • Disagreement on rewards
  • Fraud or plagiarism
  • Hate speech or trolling
  • Miscategorized content or spam

Submit
$6.46
  • Past Payouts $6.46
  • - Author $4.85
  • - Curators $1.61
2 votes
1
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  • Trending
    • [-]
      ·  7 years ago (edited)

    BTC (which I own literally zero - I'm an altcoin trader), isn't a shitcoin and you know it. Slower and more expensive transactions aren't the only elements to consider when talking about crypto-assets. Name recognition aside, which of course it has, it's also the gateway to almost all other coins. It has a much MUCH larger community in terms of both philosophical supporters and developers (compared to BTCash).

    I can't believe you made me defend Bitcoin! Honestly, to me, any hoarding-rewarder coin is philosophically wrong and that includes Bitcoin and Bitcoin Cash. They're also opposite of what they claim to do; instead of seriously decentralising, both coins take the centralisation away from governments but give it to miners or a few wallets with hoarding goals.

    Downvoting a post can decrease pending rewards and make it less visible. Common reasons:

    • Disagreement on rewards
    • Fraud or plagiarism
    • Hate speech or trolling
    • Miscategorized content or spam

    Submit
    $0.00
      1 vote