Why I no longer have faith in (random) altcoins

Why I no longer have faith in (random) altcoins

By LeftFooted | bitcoinea | 1 Oct 2023


There’ll be a time, hopefully and at some point, when we can use crypto on the daily basis for daily transactions.


And when I say that, I mean for literally any and every transaction anywhere at any moment. Sort of like a VISA or MasterCard transaction now.

When that happens, we won’t be using Bitcoin.


There’s no shortage of cryptocurrencies you can use to transact seamlessly.

Fantom, Algorand, XRP, Nano, the list goes on. All of these currencies allow you to send funds from A to B in seconds with virtually zero fees.


However, that is unlikely to happen tomorrow, and when that happens, it’d make sense to use a stable coin because I personally don’t believe the USD will cease the be the dominant currency in my lifetime.

Maybe I’ll change my mind at some point but for now, I’ve lost faith in altcoins.


I do still own some, mostly ETH and LTC, but that’s only because it doesn’t make sense to get rid of it now.

When the value of LTC goes above $150, which was I paid for it when I bought my first (and most expensive) LTC a few years ago, I’ll probably get rid of it.

And buy Bitcoin.


And there’s another problem with altcoins. Some, too many of them to be frank, are still subject to the market fluctuations that come with a recognizable ‘CEO’ that does stuff.

The more I learn, the more it makes sense, to me at least, to remain a Bitcoin maximalist.

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LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


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