5/15 ANDY HOFFMAN (CryptoGoldCentral.com): Bitcoin Wealth Storage “Dominance” Unassailable, But Altcoins Are Here to Stay

In the past two years, I’ve altered my perception about financial matters more than any time in my life – starting with buying Bitcoin in January 2016; and leaving the bullion business to start CryptoGoldCentral.com in August 2017 – as I sold first, my silver; and then, my gold. I was the world’s biggest Precious Metal bull for 15 years – 100% invested, both personally and professionally; and yet, due to Bitcoin, I’m now the biggest Precious Metal bear.

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
Gold is now DOWN for the year, and silver - which has lost ALL monetary property - is a complete basket case. Precious Metals' obituary might as well be read now - as in the Digital Age, they will be irrelevant.
6:23 AM - 15 May 2018

In my view, Bitcoin is the undisputed wealth storage king – and likely, will play a major role in the new monetary order of the emerging, unprecedentedly transformative Digital Age…which is why I am invested 100%, personally and professionally.

From day one, I have considered myself a “Bitcoin Maximalist.” However, my view of this concept, too, is changing, amidst the “double dog years” pace of cryptocurrency market development. Yes, I still believe the vast majority of altcoins – like dotcoms – will fail; most, because they were never anything more than pump and dump money grabs, seeking to exploit Bitcoin’s – and to a lesser extent, Ethereum’s – success. However, to believe the cryptocurrency landscape will be comprised ONLY of Bitcoin is both naïve and paranoid – as numerous use cases will be viable; particularly, those not “competing” with Bitcoin…

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
Most people misunderstand the non-specific term "#Bitcoin Maximalism." Some are extreme, believing only #BTC will exist. Others, like me, only spend fiat on BTC because its risk/reward profile is safest - whilst understanding numerous legitimate altcoins will peacefully coexist.
9:52 AM - 10 May 2018

…while some will simply be the equivalent of securities that investors, for various reasons, will find valuable. One of them being, in my very strong view, BRhodium.

https://steemit.com/andyhoffman/@andyhoffman/cryptocurrencies-versus-securities

When Bitcoin surged to $20,000 in December, altcoins simultaneously plunged – yielding Bitcoin “dominance” of roughly 60%. Yes, I know the “market caps” of numerous altcoins are overstated. However, on an apples-to-apples basis, it is useful to measure Bitcoin’s relative share of cryptocurrency investment at different time periods.

Starting in late December, Bitcoin dominance precipitously plunged – to a low of around 30% at the height of the mid-January altcoin mini-bubble. Even when the entire sector plunged, Bitcoin dominance only recovered back to around 40% - and amidst its recent recovery, has fallen back to 36%.

In my view, this is not a negative reflection on Bitcoin – but instead, the investment and technology communities realizing the limitless opportunity of the Digital Age. Some altcoins are scams, and many are useless. However, some will be huge winners – and irrespective, they are unquestionably here to stay…not as threats to Bitcoin, but complements.

Fortunately for Bitcoin Maximalists, the use case that matters most – i.e., Digital Gold – is unassailable…from other cryptocurrencies, Precious Metals, and fiat currency. Thus, Bitcoin’s risk/reward profile is by far the most favorable in the crypto universe, despite the fact that if you pick the right altcoins; in doing so, acknowledging their high incremental risk profiles; the opportunity to outperform Bitcoin’s (meteoric) growth is indeed possible.

Andy Hoffman (#HODLBTC)‏ @Andy_Hoffman_CG
Andy Hoffman (#HODLBTC) Retweeted CryptoKing
No! Not a "shift" against #Bitcoin, but an EXPLOSION of crypto interest. Most projects will fail, some will wildly succeed, and all are subject to rampant speculation. Above all, #Bitcoin's store of value use case is unassailable...by other crypto, gold, or fiat!

CryptoKing @CryptoK1969
Replying to @Andy_Hoffman_CG
Blind faith is a cult. Be careful Andy. I’m following the market as much as you and I’m sensing a shift away from Btc as ‘The One’.
4:52 AM - 15 May 2018

Change is a good thing, especially in such a fast-moving space as cryptocurrency. One thing that will NOT change is Bitcoin’s wealth storage dominance and monetary leadership. However, one thing that will, is the perception of altcoins in general – which in my view, will in sum total, play a huge role in the emerging Digital Age.