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Why I Prefer Altcoins Over Bitcoin for 2X Hard Fork

Why I Prefer Altcoins Over Bitcoin for 2X Hard Fork

Bitcoin SegWit2X hard fork will happen around November 16th. As such, many people have invested in Bitcoin in hopes of getting “free money.” Any holders of Bitcoin will also be awarded Bitcoin 2X going into the hardfork. This is a much more serious hard fork than the Bitcoin Gold hard fork. The lack of replay protection and the schism this hard fork is driving into the community should increase risk and theoretically lead to Bitcoin consolidating.

Instead, Bitcoin continues to rise with very few down days and has had nearly no dips (15% drawdown) since the China ban on exchanges. The one dip that happened after the Bitcoin Gold hard fork (where Bitcoin dropped from a peak of roughly $6200 to $5300) lasted less than a day before rebounding. This concerns me from an investing perspective as it illustrates a completely “risk-off” approach from investors in the market.

While institutional money is coming to Bitcoin, I imagine they are not the key driver behind this run. Most institutional investors will wait for a dip, and at this point, likely a correction (30% drawdown). It will still be a while before an ETF gets approved.

Given the immediate risks associated with Bitcoin going into the 2X hard fork and the amount of FOMO investing, I feel it is safer in the SHORT-TERM to invest in altcoins. Naturally if you are a Bitcoin maximalist or otherwise only understand Bitcoin, I would dollar cost average rather than lump sum invest. Dollar cost averaging is likely a good idea with altcoins too right now given the uncertainty for them while Bitcoin is doing so well.

As always, I’m open to hearing your thoughts. Thank you for watching.

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26 comentários em “Why I Prefer Altcoins Over Bitcoin for 2X Hard Fork

  • novembro 11, 2017 em 4:59 pm
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    Very useful video. Thanks. I'm new to Crypto investing.
    You make the comparison of Alt coins to Value stocks and suggest getting a feel for " Community Support" for a currency. Can you elaborate on other factors that we need to take into account -like reviewing the business model and white paper. Other than that, how to track the operational / financial performance of these Alts?
    Thanks

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  • novembro 11, 2017 em 4:59 pm
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    I really love your contrarian style videos and putting in the deep value investing philosophy that has proven to work over the past century, instead of FOMOing in like so many others do. Although a lot of your past calls have not panned out, I believe that your thesis and philosophy would ultimately be proven right in the long term

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  • novembro 11, 2017 em 4:59 pm
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    if you are going to make cash in this you have to buy in low, not high, so how is buying Ethereum at it's hight going to be any good. $300 with problems is a great miss-take. you want to get in low. you will be a high buyer in the things people got in low.

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  • novembro 11, 2017 em 4:59 pm
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    The Bitcoin spilt/hardfork just been delayed. I would advise you to look at Ethereum instead.

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  • novembro 11, 2017 em 4:59 pm
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  • novembro 11, 2017 em 4:59 pm
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  • novembro 11, 2017 em 4:59 pm
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    I think 2X is bound to fail.  Antpool will use their considerable hashing power to support 2X initially but only so they can weaken BTC. Then move hashing power to BCH as thats their preferred coin to mine long term. Having 2 or 3 BCH in your portfolio is a good insurance policy as BCH will have a better position to damage BTC than 2X due to BU alliances with Bitmain/Antpool and other heavy weights with hash power.

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  • novembro 11, 2017 em 4:59 pm
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    Nice videos. I'd like to point you to "The end of Alchemy" by Mervyn king if you haven't read it already.

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  • novembro 11, 2017 em 4:59 pm
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    There's nothing wrong with using Tether to short trade. Whats wrong with using Tether?

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  • novembro 11, 2017 em 4:59 pm
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    I hope B2X finds it rightful place in the dust bin. Amin hijab or what ever the fuck your name is, you're a disinformation troll, trying to pump B2X ….no one in the world would follow your ridiculous plan of hoarding B2X after the fork. Probably not even you. It's DOA. Gardzik is not Even working on the project any more….moved on to another MLM scam.

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  • novembro 11, 2017 em 4:59 pm
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    I guess he didnt mention the Ethereum "hack" where 150 million USD is bricked and not accessible. Litecoin is the only neutral coin i see if we are talking about gdax. No politics and no bad code. This is the 3rd time etheruem has bad news rendering peoples funds either stolen or unusable.

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  • novembro 11, 2017 em 4:59 pm
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    Your analysis of BTC is intelligent (referring to your last video). One huge flaw though: adoption rate doesn't matter so much for assets being used primarily as a store-of-value, such as we see with BTC. Though it CAN be used for current exchange, that is not the way bitcoin users are using it. (That's what litecoin is for lol) crypto-investors are treating BTC the same way that investors treat gold. Most people don't own gold yet it's worth today is four times that of the year 2000. Gold is also used for exchange but it's primary function is store of value. Also, the massive increase in bitcoin worth this year is a reflection of USD inflation. I see no reason to be cautious, as you do. I get frustrated because people who are already looking for a reason NOT to buy crypto, may finally get the balls to do so, until they see FUD videos, like this one …….

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  • novembro 11, 2017 em 4:59 pm
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    Its kind of sad, but segwit2x is essentially a 20B dollar airdrop. Where will this money go? A decent chunk will flow into a wide range of cryptos… Where will this money have the biggest impact?? Altcoins. Altcoins will outperform BTC/ETH by a huge margin in the month following the fork. Gonna be fun!

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  • novembro 11, 2017 em 4:59 pm
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    Just wanna say that i really appreciate your advise on the crypto market. There are to many channels who are to much focused on the hype and just want to get click bate. thanks for all the good advise and keep up the good work!

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  • novembro 11, 2017 em 4:59 pm
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    WRONG. Etherium adoption is worth nothing, ico companies on ether bring no value yet, they just go to zero without one big success.

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