How is this?

Hello everybody! So I was thinking about crypto today and something new occurred to me. You will most likely lose money if you buy altcoins with bitcoin. Let me explain. As most of you know, buying crypto at time with USD can be very hard. Often times you even have to give that exchange all your information, social security, passports, licence and all. So many people revert to buying their altcoins with bitcoin. Especially if you want to buy a less known crypto, you pretty much have to buy with bitcoin.

So I'll walk you threw the process. If you are like me and let's say you want to buy the crypto Electroneum. You get your bitcoin off of an exchange like coinbase. Then transfer over to wherever you can buy Electroneum, and in a BTC/ETN pair you buy the currency. A week later you see that the price of Electroneum has skyrocketed (it's doubled in price). You thinking you are so smart see that bitcoin has now dropped in price (half of what it was) thinking that you were way more efficient then all these bitcoin buyers. You then go to sell you electroneum, and sell with double the amount of bitcoin you had originally. Then when you go to cash that out you realize that you have the same dollar value. Think about it, Electroneum's price has doubled, but you still walk away with the same money. All because you had to buy it with bitcoin and bitcoin's price has dropped.

In a spread like fashion you have to realize that when you buy an altcoin with bitcoin, make sure that the price the bitcoin was at the time is proper. Meaning that the price of bitcoin when you purchased electroneum is at the same price, or more than it was originally. At this point, I really wish that this was not the case, because you are now in the business of timing two cryptocurrencies instead of just the one you thought. Thinking like this though, is what will help you flourish in the crypto market when everyone else fails. Remember, think smart, and think fast steemians. See you in the next post!

-Crypto DJ

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Yes, I quite agree with you

you are now in the business of timing two cryptocurrencies

Instead of trying to make profit off one coin, the focus is now on two and getting the perfect time to sell becomes twice as hard.

However, what if the goal is to increase btc and no more? Like a long term thing?

I think in that regard, using btc to buy altcoins might just be a great decision. I'm open to corrections though

Ya I think you're truly right! It's just hard if you want to cash out! However, it is probably smarter just keeping it. Didn't even think about that.
Hey this is a different question but I just had that bandwidth problem with steem and couldn't do anything for a while(super annoying). Do you know how I can avoid that?
@iamthegray

I've been battling with it too. Last I heard, each user has a bandwidth limit to prevent spamming. Usually, this limit is tied to your SP and gradually reduces each time you post, comment, upvote or resteem. So the higher your SP, the more bandwidth you have. It usually refills itself in about 6 hours (in my own case).

I actually experienced it about 8 hours ago and now I'm back

Blessings

Wow thats great nice post

Thank you! Interesting to think about as well! @praize50

I agree, nice post! I followed you as well!

Thank you so much! Will do the same in return!

I feel like true value is measured against BTC....similarly to stocks how you're measured against the DOW, not the USD....you're always measured in terms of performance against the baseline. BTC is just the "baseline" crypto for now. I think there will be a flippening this year though.

Ya I think so as well. Market is too conected..🤣

Thank you so much! Just commented on some of your posts!

🔴Why you always lose money trading altcoins through bitcoin... $$$📉

How is this?

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