Here's a question for some of you who have a few hundred K in bitcoin. If you had the same amount in cash today, would you put it in bitcoin now?
I like this question as it forces one to look past the hype and current fomo surrounding crypto. Personally, I would play it safe but that's because of my goals and adversity to risk.
Although I have a good understanding of blockchain and the value the technology might add - there seem to be a bit of a separation between what's happening with Bitcoin and the application of Blockchain. This makes Bitcoin a form of a digital asset rather than the currency it was intended to be. Frankly, right now I would rather look at some of the altcoin technology offering real-world application of blockchain as a long-term investment rather than Bitcoin. But Bitcoin is a fun ride at the moment and if you have everything set up it's pretty easy to turn a quick 10-15% with some form of arbitrage. Else treat it like gambling and just play with a bit of spare cash if you have it..
There's lots of profit in altcoins if you're prepared to risk but it can be extremely volatile and you have to do your homework. For example 3 weeks ago you could buy ADA (Cardano) for USD 0.02 and now it's sitting around USD 0.11.
Interestingly the real tricky part is converting your gains to usable currency (fiat) - most exchanges uses BTC or USD as base currency so you have to risk the volatility of BTC to move currency.
