Beautifully written. I got interested in cryptocurrency two months ago. I was sitting on a plane headed for Europe from Oz. Captive audience - started reading about Bitcoin in the inflight reading material. I was hooked. I checked the price. It was US $1895 - right on the dip, I tried to buy in, but got snagged by the hyper-obstacles placed by bureaucratic restraint - of trying to use an Oz credit card in Tir na Nog with a Euro Passport.......still managed to get in before the heights - and out. Decided Bitcoin was puffed-up bubble-coin. Bought lots, read lots. Then sold out of all - at a profit. Bought back in to astutely weighted favourites - Litecoin, Neo - form 90% of my portfolio. The other 10% are plays. I do not hold Bitcoin or Ether, which isn't to say they won't go up. I just believe that other coins will surpass their rate of inflation and eventual status. So I read your analysis, above, with the pleasure of having my opinion corroborated by someone with a far more expert opinion than mine. I am following you, and I resteemed you, out of respect for your opinion and also to spread the word. Neo to the moon, because I love the concept, application and potential - and Litecoin, also, because Charlie Lee has identified the obstacles inherent in Bitcoin and addressed and resolved them in the design of Litecoin. When the smoke and mirrors clear, truths will be revealed.
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Thanks for taking the time to reply with your story :) Appreciated!
I hold BTC and ETH alongside my portfolio of alts simply for diversification and risk management reasons. Because Bitcoin has the name, it is used as a store of value as well as an investment in it as a cryptocurrency. When money flows out of alts, it tends to go into Bitcoin and vica versa.
While the technology will be surpassed by other coins, don't discount Bitcoin. It's the one people know, and will always be the entry point for new money coming into the crypto space.
Thank you, @forexbrokr - appreciate your comments, always, and thank you for replying. I take note of your comments. Agree about BTC and Ether, too, as coins to use as an entry point to other cryptocurrency. There is a smart exchange - coinspot - operating in Australia, that allows purchase of multiple coins using fiat. It is expensive because it hedges the currency exchange rate and this is reflected in the fees charged, but ultra convenient - and I rarely use BTC/Ether for purchasing. Lazy - but reflects real world practice for novices.