RE: The Coming Altcoin Exodus

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The Coming Altcoin Exodus

in bitcoin •  7 years ago  (edited)

I agree with you that most coins are overvalued including Bitcoin. Also really enjoy your videos. Look forward to your next one. However, with many coins being overvalued in terms of usability and speculative, but with many newer coins promising more functionally than Bitcoin in the future, it seems psychologically easier to buy 10 units of a more promising cheap coins than 1/10000 of a Bitcoin. Bitcoin was a first mover and has name recognition but being Gen 1 has been limiting. Many altcoins with billions of coins available will at most be worth a few dollars with most over time, but they allow for more people to own full coins, which is psychologically enticing. Especially people that are looking for the next big thing (Gen 3 vs Gen 1). The more the price of Bitcoin rises the more intimidating it will be for new investors and individuals who would prefer to own whole coins instead tiny fractions. Unlike Bitcoin early adopters, a lot of people investing in Ripple, Cardano, etc, do not have a problem with banks or fiat money. Seems easier to think the price of a coin can rise from $0.10 to $1 than for a coin to go from $16k to $160k. Lets see what happens, but the high price of a Bitcoin for some is intimidating, especially with the fork situation (19 forks in 2017 and already 4 in 2018). Maybe instead of increasing its dominance again, Bitcoin continues to shrink down to 20% dominance or lower over time.

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