Thread: Join Coinbase
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Old 12-07-2017, 09:28 PM
tswift tswift is offline
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Join Date: Jan 2015
Posts: 323
I agree, I was an early crypto adopter and have done a lot of business with Coinbase over the years. For a beginner it's the easiest way to get started, at least in the US. If you're just now joining the crypto bandwagon, PLEASE take some time, do some research and educate yourself how cryptocurrency really works. Everyone is piling in right now because of the stunning price gains, but this always happens in the late stages of an unsustainable bubble. I've been around bitcoin long enough that this is my fourth boom/bust bubble, and the bust is most certainly coming, and probably soon. I recommend buying into crypto, but for the right reasons and not just because the price is going up. If it plunges by 50% overnight you will feel very bad if you were the last guy in who bought right at the top. Never invest more than you can afford to lose.

Today is bitcoin's day to get all the news headlines, but I would strongly recommend you understand its limitations. Bitcoin has suffered for the last three years from a capacity problem and right now has a major backlog. It's fun to watch the price go up, but just try actually moving any coins anywhere! I believe the days of classic/legacy/core bitcoin are numbered in spite of the stunning price action, and many long-time hodlers including myself have decided to exit this crazy train for greener and saner pastures with more long-term potential. For me, this is bitcoin cash (BCH). It is everything that made bitcoin great, except that it has hugely more capacity and actually works quickly and cheaply the way bitcoin used to.

Other coins are getting popular too, some with actual reason. Note: Ethereum has no coin cap limit (unlike bitcoin) and new ether will be issued perpetually. Also, Ethereum is beginning to hit its own capacity problems and fees are starting to rise. Before the Bitcoin Cash split, I really thought Dash might take the crown for the coin-of-choice going forward, and there are some significant things to like about it. However, it has some issues too (including a significant premine and a shady past). Ultimately everyone MUST DO THEIR OWN DUE DILIGENCE before deciding what to go with.

For me and my money, I don't believe anything else will be able to compete with Bitcoin Cash in the near future. Coinbase doesn't support it today but has announced that they will in the near future, likewise for other exchanges. But whatever you do, I would urge you not to ignore the cryptocurrency phenomenon. It is as revolutionary in its own way as overunity, and has the capacity to bring financial freedom like nothing else in history ever has.
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