Bitcoin has a Sharpe ratio exceeding all other investments. Shitcoins do not.

Buy Bitcoin. Hold for longterm capital gains. Take profits when frothy. Wait for a new entry price.

Thanks for the response. I understand/appreciate your other points, but if there was a cost effective and accurate way to invest in the total crypto market cap, wouldn't capturing the entire crypto results = the least amount of risk?

If that was an option, shouldn't more people consider that compared to just buying and holding BTC no matter what?

I guess I'm just wondering why it's not mentioned when it's preached as solid investing advice in every other sector. From what I understand, it's because BTC was 1st and so far ahead of everything else that it doesn't really matter. It might not be like that forever though, new innovations come and go and it's impossible to accurately predict the future.

My Ledger is bulging...

BTC +28.9%
ETH +82.1%
LINK +121.4%
ADA +6.6%
ATOM +51.4%
ALGO +121.7%
XRP +53%
KNC +17.7

all in the last 30 days...

I need to find a way to get some Energy Web...

Dude seriously. Use the sh*tcoin thread for your other stuff.

A Non-Libertarian View of Bitcoin https://medium.com/@rextar4444/a-non...n-2c6426a26b2e

My view on how bitcoin will arise not as an everyday money for the ordinary citizen but rather as the base (synthetic) commodity money which, as a high value settlement system, which will cause the existing global (fiat) currencies to stabilize inter relationally.

Not sure I understand how you arrive at your numbers.

Gold is up 30% this year.
Bitcoin is up 70% this year.

How do you see the path leading to that future? What will drive liquidity and liquidity growth to the point where it is the settlement layer for central banks?

When do you think we will reach that point, and what probability would you give that it happens within double that time frame?

The notion that banks will pay jbouton trillions of dollars to use a highly insecure, highly unreliable internet coin for high value transfers (at large cost per transfer) is perhaps the quintessential comical bitcoiner delusion.

There are two moon cases:

1. It becomes a global currency

People who aren't stupid know this is impossible, but they still need a moon case, so they come up with the absurd (on 10 levels) fantasy that:

2. Bitcoin will become a high value settlement layer between banks and governments

The fact that these are the two best bull cases the entire bitcoin community can come up with says all you need to know about the long term future of bitcoin and the rationality of bitcoin bulls.

more appropriately

can some of the global currency advocates give a scenario for adoption that doesn't create a mad max society? I'm very genuine about this and can't see any transition that doesn't account for unprecedented social upheaval given the finite and entrenched nature of coin and coin holders

I like how $12k isn't the moon now

Also, how is it insecure and unreliable? It's the most secure and reliable network ever created.

I accidentally send BTC to the wrong address, or put the wrong address as the recipient. How do I get that money back?

Transaction fees

Length of time for transaction

Complexity in understanding how it works, i.e., wide spread adoption for the average American of average intelligence.

There are many, many drawbacks. I own bitcoin. Like almost everything right now, it's a bubble and ponzi scheme up.

That's a feature not a drawback. On the flip side no one who sent you BTC can make fraudulent claims and receive their BTC back.

How can that be touted as a positive feature? How any times in your life have you been impacted by fraudulent claims in which you ended up out of pocket? I'd guess most people's answer is either zero or near zero.

A handful for ~ 2,500 USD

Go sell literally anything online and you will run into this in your first 50 transactions.

How many people send BTC to the wrong address, also near zero...

I've never sent btc to the wrong address but when I had a small online business I dealt with fraudulent charge-backs all the time.

Picking a fight over Bitcoin's price apprecation is one of the dumbest things. You can only win this by taking some arbitrary timelines <5 years (probably a lot shorter).

Bitcoin outperformed everything, deal with it.

Bolded is key. You're like 50 year old has beens talking about how good they were in their college days. Bitcoin is the stodgy grandpa of investments now.

We're looking at bitcoin as an investment now, not in the past. Build a time machine and your post might be relevant.

Insecure: The only thing required to irreversibly own hundreds of billions in value (in the case of a "high value settlement layer") is to know a string of digits. That's an assclown level security model. It's why so many exchanges went bust from hacks.

Unreliable: The network can and has easily choked under any number of conditions. There could be as yet unknown hacks or flaws that render bitcoins worthless. The broad Internet going down means it can't be used (internal bank transfers run on different system to the broad internet). An alternative, more useful coin or new tech (QuantumCoin, anyone?) could cause a rapid crash in the value of bitcoin, and likely will at some point.

Sorry if this is the wrong thread to post in (new to this type of content on 2+2). I am a huge novice with crypot and use it to mostly just withdraw/depsoit on books/poker. I recently withdrew to my blockchian wallet about .5 coin succesfully and then tried to transfer to coinbase - it has been unconfirmed and pending for about 30 hours now. In the past handful of time it has only taken 60-90 minutes to confirm.

I guess i just wantd to make sure this was a normal occurance from time to time and nothing to worry about? Anything i should do or just wait it out?

Any feedback for what im sure is a very noob question is appreciated - thanks!

at say $3 a transaction bitcoin is not feasable for sending $10 or $100 but to send 1 million dollars for 3 bux can beat out other options.

this isn't true at all.

You can't hack bitcoin its not a software. Bitcoins blockchain would still be accessible and would carry on without the internet (who is worried about "the internet" going down anyway?). There is no way to create a coin with the security bitcoin has, its not a software that can be hacked. U either don't understand the concept and role of nodes or you are being disingenuous.

This didn't actually happen, did it?

No, but if you think that's not going to be an obstacle to wide spread adoption you are in a niche mindset. Most people are not sophisticated thinkers - far from it. They are error prone and will be uncomfortable transferring /receiving funds this way unless there is significant change to the platform.

if its a pending transaction at the correct deposit address, and you are just waiting for it to be confirmed (included in a mined block), then it will either confirm at some later time or get returned to you.

some wallets allow you to resend and bump the fee. its called child-pays-for-parent (cpfp) transaction.

There have already been multiple ~$1 billion transactions sent for <$5 fees. Not sure why Tooth has such a hard time grasping the fact you can set your own fee and effectively determine how long the transaction will take to confirm.

I thought I could send bitcoin instantly instead of waiting for the long wait time using banks?