If you had readed my previous post you will know that I think that bitcoin will hit a price target from 100k to 1b. But today I am here to talk about price, I am here to tell you why I think altcoins still have utility but eventually they will also fail or at least take less market capitalization than today.
You see I don't have much bitcoin only 1.
But since I think that bitcoin will reach such high prices I think that it will be a good idea to save that bitcoin on the secure chain and start collecting my share of bitcoin but in the lightning network. It is say that 0.003 should be the medium that every human should have, if we device the total population by the total supply of bitcoin the result is more or less about 0.003.
You see like most people you have bills to paid and a life to live, so I can't go crazy and put all of my money into bitcoin but I have a old gaming computer that still runs just fine. And from here on is where altcoins have an utility for me.
You see my computer can't mine bitcoin, but it sure can mine low cap altcoins that later can be exchange for bitcoin, as you can see the only utilities that I see for my personal case with altcoins is that I can mine with my old hardware since my electric bill is include on my rent, and also to speculate that my chosen altcoin may raise in value in term of bitcoin.
So I have decided to put my old computer to work and maybe that way I can collect my share of bitcoin into the lightning network.
But you see people pretty soon will realize that the only utility of altcoins are those two speculation and mining to exchange it for bitcoin, eventually people will dump those altcoins easy to mine and with it will go those two utilities being this one another way altcoins will die.
Once LN is fully implemented, and the price of bitcoin goes higher and higher, they will start to dump most altcoins, only surviving a few, I see a future with less altcoins and more bitcoin capitalization.
But in the meantime, while altcoins are still worth something and that future is not yet here, I plan to mine altcoins, sell them at a higher price and collect my share of bitcoin. You see any normal person with a laptop or computer could today from altcoins get his shares of Bitcoin, and since we are talking only 0.003 that should be put into LN. But I think that people with money are doing just that but not to collect 0.003 but to actually increase more their bitcon holdings or to accumulate more bitcoin in their wallets.
But eventually this will also come to pass, the opportunities to collect at least your shares of 0.003 are closing one by one, eventually if you didn't foresee the future you will be left out of it.
Now if you think that when Bitcoin reaches 1m dollars your altcoin will be worth more than to day, think again because eventually your altcoin will be worth nothing, and the price will not decline gradually, it will happen over night in less than 72 hours your whole portafolio will be worth nothing. Once people realize or if whales stop buying altcoins the price will decrease faster than what it took for it to climb to.
As today 2019, your altcoins are pumping because bitcoin whales are buying your altcoins so that they can pump it and later dump it, you see whales are buying right now with the intention of multiply their bitcoin holding, but once their are done pumping this same whales will dump hard on altcoins so that their gains in bitcoin are saved. Don't believe me you will once this also comes to past. And you will be also a headless altcoin chicken running around waiting for your only release: sweet death.