Thinking about turning my mined BTC into an altcoin. Should I go for Litecoin since it’s kinda rare like BTC, or try Sui for potentially better returns?
Should I Trade My Mined Bitcoin for Litecoin or Sui?
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chris.viperMember
Posts: 267 · Reputation: 213
#2Nov 16, 2020, 07:30 AM
Not sure that’s a smart move. You just mined BTC, that's solid gold, and you want to swap it for a risky altcoin? Seriously think this through. Honestly, I’d stick with Bitcoin if I were you.
If you really want to diversify, keep 70-80% in Bitcoin and throw 20-30% into Sui or something like that. At least that way, you're not risking it all.
Why trade at all? If your BTC mining is yielding less now, it's not like swapping to dodgy alts will magically fix that. Remember, Bitcoin’s long-term potential is hard to beat.
chris_maxiNewbie
Posts: 219 · Reputation: 36
#5Nov 16, 2020, 05:06 PM
What if you switched to mining something else like XMR? I mean, if your mining isn’t profitable now, maybe consider other coins that can give you better returns.
Wait, are you saying holding BTC racked up your electricity bill? That makes zero sense. Holding any coin doesn’t increase your power costs. Plus, BTC’s way outperformed Litecoin this bull run.
alpha_minerFull Member
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#7Nov 16, 2020, 05:58 PM
Glad I’m not the only one confused. Sounds like someone mixed up their terms. But yeah, holding BTC is overall a smarter play, especially for newcomers.
silentnonceMember
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#8Nov 18, 2020, 04:30 PM
Litecoin feels safer since it kind of mirrors BTC’s scarcity, yet Sui could have a bigger upside. A mix could balance safety and growth.
Sui’s definitely hit hard since last year, and while the trading volume is decent, keep in mind it could drop further if the market tanks. Risks are real with it.
I’d say go for Sui. People don't care as much about scarcity now; they want coins that offer utility. That's why Sui is starting to look better than Litecoin in the long run.
Yeah, just a dumb comment earlier. Actually, I’m slightly in profit mining BTC.
I've got a huge stake in Sui and I believe it’ll rise above $10 soon. Plan to cash in once it doubles. Then I’ll be close to a full Bitcoin from Sui alone!
Don’t sleep on Litecoin but Sui seems off to me. It’s lost so much value and the tokenomics are shaky. High supply with founders holding too much means pressure is a real concern.
ninja_2016Newbie
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#14Nov 22, 2020, 06:04 PM
Honestly, I think holding Bitcoin is the best call. You’re trying to make the same mistakes folks made in the past. Bitcoin just has proven strength in the market.
CryptoGuruSenior Member
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#15Nov 25, 2020, 02:20 AM
Why chase the next shiny thing? Bitcoin’s been the top performer from day one. If you want Sui, maybe look into it separately rather than swapping BTC.
We need to talk about undervalued coins. There are options out there with great metrics that are worth considering.
chris.viperMember
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#17Nov 26, 2020, 11:30 AM
Just stick to your Bitcoin. After all that mining, keep what you earned instead of trading for something less solid.
d3g3n_bridgeMember
Posts: 14 · Reputation: 112
#18Nov 26, 2020, 02:08 PM
Yeah, I see what you mean. Sui's been losing traction, while Litecoin has at least solid fundamentals.
Your logic here is all over the place. If you’re expecting a market bounce, just hold Bitcoin. Swapping it for something more volatile screams bad idea.
AtomicBridgeMember
Posts: 128 · Reputation: 201
#20Nov 26, 2020, 02:40 PM
Why even think about converting? You’re trying to flip mined Bitcoin for altcoins. Focus on how BTC will perform. You've got the best asset already.