I have been in the market for awhile, and always hear the same mantra about trading to hold more Bitcoin and not Fiat. I bought into the same mentality for a long time, but I'm changing my tune. In almost every industry, first generation leaders are replaced by competition. From Sears, Kmart, Nokia, Motorola, Yahoo, MySpace, etc. Although Bitcoin is the current crypto reserve currency, I think that its dominance is threatened by ALT coins with faster, cheaper transactions and greater scalability. What do you think? Is it smart to hold Bitcoin as a long-term investment, or are there better choices among the ALT coins like Ethereum or Litecoin?
I know that scenario could happen but for now, bitcoin is still the number one choice. We've seen bitcoin cash trying so hard to dethrone btc but it failed miserably. And even if an altcoin succeed to replace btc then it's just very easy for us to trade our bitcoin in any exchanges.