It is my personal belief that we (everyone else) are not ready yet to birth another coin into the mainstream. I think it will take another crash. Why? Because the first one made a whole lot of people take notice of a possible investment opportunity that were otherwise ignoring it, brushing it off, or were just not in the loop. Again...just my thoughts....but people taking convincing. I think that once Bitcoin crashes or plummets terribly, more people in the money market will want in. And that will open the gates for a whole new set of people to figure out a few things about it.
By that time, the rebuilding of the market, the rest of us have the obligation to educate new investors and traders on better payment systems based on the blockchain, and also on what the true potential of these systems are. Just today I heard a banking commercial that used the word "blockchain" - it's getting out there. This thing is still a toddler figuring out how to walk. We all fell in love with our first child, but I think we (collectively) will finally be ready to accept the possibility that bitcoin kind of sucks and there are much better options out there.
To me, bitcoin is for making profits on one more time around. Then I think it will essentially be obsolete, or have to share a much larger portion of the market with other coins.
--I would not like to suggest any coins to jump to, I think that would be foolish of me. I think that the safest bet when/if bitcoin turns sharply is to cash out, and go to fiat until the dust settles. Then pump it back in for the rise.
meep
is it possible that if bitcoin crashes heavily then ordinary folk may be too scared to put their money into bitcoin ?
I can see that scenario, but mostly because of the price point. Now that the altcoins have proven to be faster, cheaper, and profitable, I think pointing new comers in that direction is a good thing, as long as they don't go in blind. If they're just throwing money at it, bitcoin is probably the best thing for them anyhow. And with that whole paragraph I wrote up there....that's a positive outlook....on the other side, I also think it could take two more rounds to get more people on board, and that's mostly because it's very difficult for those who are non savvy in this realm to even understand what blockchain is, what cryptocurrency is, etc.....Once the big mainstream banks and business platforms adapt, it will creep more and more into everyone's lives....whether they like it or not really.
Very good reply thank you ! It is certainly interesting times !