From the looks of it Bitcoin may have hit its peak and people could be looking for an alternative just by looking at the charts.
Evidence of people looking for an alternative is the rise of Ethereum and now the rise of Steemit! Bitcoin is still going to be a store of value it may very well still hit $10,000 a coin one day who knows but one thing is for sure it seems to have stalled a bit and the halving literally looks like it has had little if any effect on the price at all.
Maybe Steem is the true alternative to BTC, since Eth has taken a nose dive after its reputation has been hurt a little after the Dao hack and how they handled it makes them look a little incompetent. The Steemit team handled their attack much better and more efficiently then Dao and Eth it seems. A lot of people compared the Ethereum developers to no better then a centralized government after they decided to hard fork and it hurt their reputation a lot as a decentralized currency. So it is no coincidence the rise of Steemit follows the fall of Eth literally.
I've been trading on Poloniex for a bit now, and one thing that I've realized after researching the popular coin of the day, everyday and realizing that there's nothing really THAT different (If you don't consider coins like Siacoin, Storjx, or FoldingCoin) is not only that the world was needing a coin that makes sense to them, but we also needed a new type social media of social media site.. And one that pays us is game changing.. So I definitely agree. Good post!
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Thanks
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the world needs to change! and this is good! :)
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The answer to your question is no. There has been a lot of time and money invested in #Bitcoin and many businesses are based around it. The best/smartest developers in the world are working on it. It is the head of the Cryptocurrency ecosystem. It has hardly stalled, it has more or less doubled in value in less than a year. A great article to read about what to expect from Bitcoin can be read here: https://vinnylingham.com/bitcoin-2016-there-has-been-an-awakening-164b42d38927
Also remember this is a BIG world. Bitcoin is known in China, Australia, Singapore, Brazil, Europe, Africa, etc... Steem is far from worldwide, I doubt it is known in China at all and that country may very well define the future of cryptocurrency because of its massive population and financial repression of its citizens.
I think it is great to be excited about #Steem. At #Steemit a lot of people are in a little Steem euphoria bubble and it is always important to get outside of that bubble. Steemit should bring many newbies to the crypto-world and that is great! My latest Steemit post: https://steemit.com/cryptocurrency/@bitcoinmeister/altcoins-like-vcash-try-to-have-functionalities-that-bitcoin-lacks-anonymity-speed-etc
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Yeah for sure. I wonder why the price hasn't gone up a lot this month since the halving though.
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Miners prepared in advance and saved pre-halving . They have many of their pre-halving coing on hand and are letting them out on to the market slowly so there has not been a big drop in supply. Eventually they will run out and supply of Bitcoin on the market will drop, this should boost the price. With BTC price in the $650= to $680 range for a while it makes people think BTC is stable and boosts long term confidence.
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Great I guess I will still hold some for now
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It would be a huge mistake to totally liquidate your Bitcoin. I think any crypto-portfolio needs to be AT LEAST 80% Bitcoin.
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excellent post. I think the coins have a social component in the end will be the winners in this new and developing world.
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and thanks for the brownie-points
you thinkest of as progressive human new era :)
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Yes thank you!
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upvoted
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