I don't personally understand why anyone would actually be putting money into BTC right now. But a common tactic that I see is to scare people into dumping all of their alts for BTC.
"Daddy is coming home" and "The King is back" is two common phrases as well. I think this kind of propaganda is a big part of the BTC ecosystem right now. And honestly I was a lot more susceptible to this kind of propaganda in 2017. But now that I know that BTC was the worst performing coin when compared to every major alt, I cant help but feel like selling alts is a bad idea.
The landscape has changed in more than a few ways.
- All trades are taxable events
In likely the scenario where we wont be able to simply report on what we cash out then dumping alts to go to BTC will be even more risky. Of course if this is the case then Steemit is kind of fucked as well because the taxable events on this platform alone would break the IRS. At this point in time I don't believe its psychically possible to track every trade as a taxable event. But in the scenario where it is all tracked then swapping out of alts to BTC would simply not be worth the effort.
And finally, these same people measure everything in Satoshis rather than USD...
These people are beyond stupid, they claim Bitcoin is the king even though literally every other major alt massively out performed BTC in 2017. They refuse to accept that other coins made more money so they measure everything in satoshis and claim the only reason for alts to exist is to increase your satoshi count.
We know Bitcoin is slow and expensive and the lightning network requires all transactions to go through centralized hubs. Yet they claim every other competitor is a centralized coin owned by big banks.
They have no concept of percentage gains and just think that the coin worth most money means that its the coin that has the biggest gains.
Oh well, these guys believe that BTC is a good investment. There is nothing to FOMO into you idiots!! Bitcoin makes less money!