/biz/ - Business & Finance

>>18836896

Once BTC gets too popular, the BTC network is not capable of processing more than a small number of transactions at a time, and requires very high fees. The code is fundamentally flawed. Some passionate people forked off and created BCH (Bitcoin Cash), in order to fulfil Satoshi Nakamoto's true vision, but were unable to get enough momentum to replace Bitcoin. Hyperbitcoinization can never happen, hence the price will never go up beyond a certain point. BTC whales know this; this is why they consistently pump and dump. It's why BTC went down 60% in March. Nobody who holds BTC really believes in it. They all know it's a ponzi scheme.

If you believe in the long-term future of crypto, hold some BCH and XMR. Only a small amount though, because you're betting for the long-term anyway, in which case they will make millions, and the downside risk is that they fail and go to zero. Ride the BTC wave up and then dump it as quickly as you can. Then buy gold and gold-mining stocks with your profits. When the BTC ponzi scheme falls apart, crypto will die with it, and people will rush into gold as the only remaining safe haven.

>>18837008

Bitcoin (BTC) is a moonboy cult. Its thought-leaders ban or deride anybody who criticizes it on all the mainstream forums. When the normies become aware that BTC is a scam, and that it cannot process transactions without great time and expense even when the price gets to $20,000, they will run out of it just as quickly as they got in. Actually, they probably won't have a chance, because the whales, who already know that BTC is a scam, will simply dump the pump.

Bitcoin Cash (BCH) and Monero (XMR) are the true successors to Satoshi's legacy. Those are the coins I am holding for the long term. Even so, I don't know which crypto will ultimately succeed, which is why I'm mostly in gold.

>>18833847

I buy gold, not bitcoin, for three reasons.

1) Bitcoin is too volatile to be a store of value. It pumps and dumps regularly between $3000 and $10,000 without making lasting gains. It has done this for three years now. The fact that Bitcoin dropped 60% when the stock market crashed shows that it is full of speculators and gamblers, not people who seriously believe in it. Gold didn't drop like that. It showed strength when everything else fell.

2) The BCH people, as you say, are at war with the BTC people, saying that BTC is a technologically primitive scam. They are probably right. The BTC people say similarly injurious things of BCH. They are probably wrong. BCH, ridiculously enough, has its own hard fork in the form of Bitcoin SV. Even Monero is said to have serious problems, like perpetual inflation, inevitable government crackdowns and high fees. The whole crypto-space is in absolute chaos.

I have a little bit of money in Bitcoin just so that I can sell it after the inevitable pump, but my real crypto hedge is in Monero and Bitcoin Cash. If crypto does actually succeed then it will be one of those two coins, not Bitcoin. However, even their success is not a sure thing.

3) Gold has intrinsic advantages over crypto. For example, somebody can torture you for your crypto keys, but nobody can torture you for your gold bars held in a Swiss vault. Again, if I send a transaction on GoldMoney by mistake, I can have it reversed, but if you make a mistake in crypto you are completely finished. You can also do real things with gold, like make jewellery, or use it for important industrial purposes; and it has 5000 years of history behind it.