looking at the charts and the top 25 of the coins on coinmarketcap we can see that in the last hours a lot of the altcoins have reversed their downward trend after the huge pullback into BTC yesterday
we can also see a slow upward trend in our most favourite coin STEEM (my proof can be seen in my wallet and in this post I wrote yesterday)
(this is the 5 minute chart around noon showing things going in the right direction and they seem to be keeping up this trend)
I really hope so because for the moment I have bet on the altcoins providing me with a better return by buying the dip and not on the hope of free Bitcoin gold being worth more then I could get by just doing nothing.
It might be more a mentality thing but I personally prefer a school of dolphins to one whale (more diversity and decentralisation).
We are still in the infancy of crypto and 90% of it climbs and falls with Bitcoin and its value, thats like betting everything on one horse.
Another reason for me is the fact that to get mass adoption we need the broader public to understand bitcoin and the blockchain (atleast a little) and all the forks are not making this easier
Which camp are you all in
Voting for Bitcoin and the Bitcoin Gold
OR
Banking on Altcoins
please share your opinions reasons why you think your way of thinking would be best?
In my opinion, I think the current value of BTC is overly inflated and hyped due to mass media. This doesn't mean the upwards trend will not continue. I think it will continue going upwards on a flawed basis. I would love to hear a more technical or more experienced opinion on this. Overall, I'm still pretty new to the whole crypto scene. Being inexperienced and such may have caused me to have the wrong idea/opinion on the matter. If so, please do feel free to let me know. (:
I just moved a big chunk of bitcoin into steem.
BTC Gold looks like a bit of a rort, and I think too many people are expecting more free money, a la Bitcoin cash, so they're getting in at any price; inflating the price of bitcoin and devaluing alts like steem.
I hope they don't expect to pick up steem at $1USD a month from now, after Bitcoin Gold flops.
@mattclarke - So you took the plunge and moved Btc into Steem$. Is this the philanthropic gesture we discussed or is the jury still out on that? Was it simply more prudent to make a protective move until the Bitcoin gold rush subsides?
No, I'll be leasing it out. I'm actually just about to post the offer.
I think it's more effective here, particularly at 2% per month, than in bitcoin.
I can't see the gap between bitcoin and steem getting bigger any time soon.
@mattclarke - You are amazing, and I am so pleased to have met you. Now let's hope that the Steem community will be just as gracious in its response.
You'd assume, being this handsome and all, that I'd just be coasting by on my good looks, but I'm actually quite useful too.
@mattclarke - " You go boy!"
thats a bit of my fear as well... its always bit of a risk but the popular alts seem the way to go for me as well
Oh yeah, @felander !
Take this 0.32$ upvote as my token of appreciation for your post!
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Nice, you got a 2.5% @minnowbooster upgoat, thanks to @felander
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