If I had 2k to invest every month for the next 10 years, would Bitcoin be the only real option? I hear a lot about other coins like XRP and Ethereum. Back in 2012, I used Bitcoin to buy some sketchy stuff and sold most of it when it hit around 400 for one. I’m hoping to boost my retirement plan a bit.
In the next 10 years, I think Bitcoin will likely do better than the rest. There might be one or two others that do well, but no one really knows for sure.
Sammy said:
In the next 10 years, I think Bitcoin will likely do better than the rest. There might be one or two others that do well, but no one really knows for sure.
I get it. With Bitcoins history, it seems like a solid long-term investment.
@Jem
If you plan to buy and hold without doing much trading, then Bitcoin is definitely the best choice. The main concern for Bitcoin used to be government regulations, but it seems more likely now that the US government will support crypto. Many financial organizations have already jumped in and created ETFs, so the only real concerns left might be Quantum Computing or some major disaster.
@Taj
What makes quantum computing a threat?
Harmon said:
@Taj
What makes quantum computing a threat?
Quantum computers can perform calculations much faster than all the supercomputers combined.
Harmon said:
@Taj
What makes quantum computing a threat?
Quantum computers can perform calculations much faster than all the supercomputers combined.
Some believe if quantum computers advance a lot, they might be able to break the encryption on your keys for Bitcoin or other coins. It’s a simple way to think about it, like a hacker bot trying to guess your Reddit password by trying millions of combinations until it hits the right one. Quantum computers can theoretically do math much quicker than regular computers.
@Taj
So it really comes down to the security of Bitcoin itself.
@Taj
By the time quantum computing is a real threat, Bitcoin will probably have defenses against it.
@Jem
Jasmy, the Bitcoin of Japan. You should do your own research.
@Jem
Don’t buy until 2026. If you’re buying Bitcoin now, you’re just setting yourself up for exit liquidity.
Marcell said:
@Jem
Don’t buy until 2026. If you’re buying Bitcoin now, you’re just setting yourself up for exit liquidity.
For sure. I’m going to sell off most of the altcoins I have and keep a third of my XRP because I got in super early. Then I’ll reinvest into Bitcoin.
@Jem
DCA with Bitcoin, Ethereum and Litecoin has worked well for me.
Kyle said:
@Jem
DCA with Bitcoin, Ethereum and Litecoin has worked well for me.
Bitcoin and Litecoin are decent, but Ethereum is a risky bid after its switch to proof of stake.
Kyle said:
@Jem
DCA with Bitcoin, Ethereum and Litecoin has worked well for me.
Bitcoin and Litecoin are decent, but Ethereum is a risky bid after its switch to proof of stake.
Can you elaborate? I put money into Ethereum.
@Vin
Ethereum is still relevant. A friend in the industry could talk for hours about its continuous innovations and why it’s here to stay. Many just want alternative solutions to Ethereum to perform better.
@Vin
The proof of stake model is a richer-get-richer system. Miners have been replaced by validators who can dictate the rules.
Kyle said:
@Jem
DCA with Bitcoin, Ethereum and Litecoin has worked well for me.
Bitcoin and Litecoin are decent, but Ethereum is a risky bid after its switch to proof of stake.
Litecoin isn’t as interesting if you want to make money, speaking as a long-term holder.
@Lael
It saw a big rise in 2017 and did well again in 2021.
MintMuse1 said:
@Lael
It saw a big rise in 2017 and did well again in 2021.
I was there through it all. 2017 was great, but we’ve completely decoupled from Bitcoin. Does anyone remember when everyone talked about the ‘flappening’? My belief that Litecoin will get its moment again keeps it in my portfolio. But since then, there have been many better ways to invest, in my opinion.