Don't look now but bitcoin not only shattered an all time high hitting $1628.95 on the dinbits index and it's been holding steady at over $1500 for several days after some monstrous profit taking.
In the last 12 hour session bitcoin has once again risen above $1600, currently at $1618.76 bitcoin has continued to rise this year since it broke the $1000 plane for the on January 1st.
Not Just Bitcoin Anymore
Bitcoin isn't alone in its surge. Ether (ETH), ZCash (ZEC), and Dash (DSH/DASH/DRK) are all right around or above the $100 mark. With others like Litecoin (LTC), Monero (XRM), and Ether Classic (ETC) also doing well there's one seemingly clear point, digital assets with utility and privacy are the most popular kind.
Litecoin may be a payment token in it's purpose, but it's integration of Segwit has been a motivating factor for it's recent rise. Ether and Ether Classic both facilitate easier (than bitcoin) development of smart contracts and Monero, Dash, and ZCash all offer additional privacy.
All of these assets, in addition to bitcoin, are on the rise and seeing record highs.
When altcoins do well it's good for both the altcoin and for bitcoin. Often there is talk of new coin overthrowing bitcoin and altcoin supporters promoting their coin with its superiority over bitcoin or calling others ""bitcoin maximalist".
There are certainly people that exist on earth that believe there should only be the bitcoin blockchain, but the term "bitcoin maximalist" is rather misguided encompassing just about everything negative said about other networks as a "bitcoin maximalist" approach and this simply isn't true.
The reason many, dinbits.com included, are vocal on this topic and it's not because they want only bitcoin to be successful, bitcoin is already successful, it is because they don't want others to think they are getting the power, security and immutability that comes with the bitcoin blockchain with everything called a block-chain. It's also not because they don't want to see other networks succeed, they actually want this to happen because it's good for bitcoin. They want people to understand new networks can be dangerous and private networks simply cannot ever be 100% safe because it is technically impossible for it to be so.
A new network is not secure nor is it tamper-resistant and although it may intend to be immutable, it simply cannot be until it reaches a certain maturity level.
It is improbable that private networks never can reach this level and what many so-called "maximalists" are really talking about.
Regardless of any of that, the good news is that Dash, Ether, Ether Classic, ZCash, and Litecoin among others are on the up and that is good for bitcoin and altcoins. Bitcoin is over $1500 and that is good for bitcoin.... and altcoins.
Being an investor in digital currency these days certainly doesn't suck.
The opinions expressed by authors of articles linked, referenced, or published on dinbits.com do not necessarily express, nor are endorsed by, the opinions the of dinbits.com or its affiliates.
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