Topic: Am confused !!!! - page 2. (Read 951 times)

Here are the few facts I know about other coins that are not Bitcoin.

1. Almost all old altcoins won't make a new all time high ever again.

2. Newer altcoins with good fundamentals and utility will bring more x ROI than old altcoins.

3. Bitcoin is more reliable than the entire lists of altcoins.

You need to understand that new narratives have the highest potential in the next bull market, we are seeing AI and Ordinals now and I am sure that new one is coming, be on watch out for this, also gaming ain't dead yet, in fact it's just the beginning.

My final advice is, spread your money among few numbers of projects, and make sure that Bitcoin takes the half space of your portfolio, keep doing good research too, I wish you the best.

Maybe ethereum is one of the altcoins that allows you to expect to benefit when bitcoin reaches the highest price as it has in 2021. Bitcoin reaches the highest price, ethereum also follows.

To store coins, use a hardware wallet that allows you to feel comfortable. You can open and see which hardware wallets are suitable for you LIST: Open Source Hardware Wallets.
Using a hardware wallet to store coins, you have to buy. You can get a wallet to store coins by downloading a type of software wallet such as Electrum and Bitcoin Core.
Wallets that support more coins are also available which you can use like unstoppable wallets.

The exchange is not a wallet although on the exchange you can get various coin addresses. but you are not given a private key or seed phrase.
Do not store coins there because you are not in control of your assets.

Hope you are helped with this.

Yes, there are a lot of altcoins that give people huge profits. What you need is just information to buy those altcoins at a low price.  For instance, people who invested in "Pepe" when the price was low made a great profit. Someone shared his wallet on X where Pepe turned his $200 into 1 million dollars

Your first question is good and I'll try to explain one by one. sometimes altcoins are an option besides Bitcoin because projects are able to present something different and interesting and the second reason Bitcoin may be considered a crypto asset whose price is already too high is of course not all of the same assumptions.

Well, what altcoins say is all crypto assets other than Bitcoin. what should you do Know the Weaknesses and Strengths of Altcoins Before Choosing It, Want to find something that is just growing and being born, you can just refer to CMC link: https://coinmarketcap.com/id/ If there are doubts about colleps and there will be many incidents, just choose one that is in the top 10 category.

For wallet selection Currently, various payment transaction tools have developed and Choosing between open source wallets from close source wallets depends on how much investors prioritize security over convenience and the explanation is very clear as conveyed by @Upgrade00. So, don't be confused anymore.

That's what I admit. It's still very shallow and I'm still very hungry for mastery of the material so that I don't make mistakes when informing others. Therefore by following and listening to every discussion of members who are experienced in the forum can make me discover new things, especially knowledge about bitcoin articulation.

I will keep the 3 links you left in this reply as reading material. Thank You.
Regarding the discussion of bitcoin, I admit that you are a great writer who is able to provide a direct understanding, especially about bitcoin and crypto, through the long posts that you always present.
It seems you are not happy if bitcoin is called crypto. I also object to this mention.

That sounds like a pretty limited understanding of bitcoin, and sure coming up with general descriptions may be fine and dandy and even accurate, but there's a lot more going on in bitcoin than merely some superficial description.


It seems that I already responded to those ideas in my previous post (especially from the affinity scam angle.. in that an overwhelming majority of shitcoins are affinity scams upon bitcoin in one way or another), and maybe if you study bitcoin a bit more, then you might start to understand it a bit better in order to know how it is both a leader in the space and what kinds of innovations that it brings to the space in terms of both solving the Byzantine Generals problem, but also how proof of work and the difficulty adjustment contribute towards incentives for miners to build around it and also the various other infrastructure that comes from ongoing growth of bitcoin's various network effects (perhaps building on the ideas of Trace Mayer's framing of the 7 bitcoin network effects).

If you want to get some better grasps regarding how the use of the term crypto is misleading, then you likely need to spend a few more hours studying various aspects of bitcoin and attempting to get from good sources..... which it can take a while to figure some of these matters out... but many people are capable of such, and there quite a few bitcoin focused (or bitcoin first) sources that would likely help you to figure out bitcoin first and then to have a better contextual understanding.. perhaps? perhaps?  unless you really are not trying... and you are just spouting out crypto bullshit talking points to strive to muddy the waters and to frame bitcoin as if it were just one of many competing cryptos.

Have you spent 10 hours learning about bitcoin, 100 hours, 1,000 hours or maybe more?  I doubt that you will have as much confusion if you might spend more than 100 hours learning about bitcoin.  If you don't know where to go for your good bitcoin focused sources, maybe start with going through Michael Saylor's materials (and interviews and he even has some informational websites).. and surely he is not the ONLY source (since he ONLY came to the space in 2020), but at least Saylor is very articulate about bitcoin first and his talking-points and materials tend to be bitcoin first focused, too. https://www.hope.com/  Some of that might help to provide some focus in terms of learning "why bitcoin", perhaps?, if you are really trying to learn. 

There are other sources that go into "why bitcoin?" too.. so another decently good starting point for bitcoin first focused materials is https://www.swanbitcoin.com/signal/

Electronic currency bitcoins. Bitcoin is designed as a payment system that is made to make transactions without having to ask permission from anyone as long as the first party and the second party agree as long as both have an address. That's all I know about bitcoin.

Based on the understanding that I know from many internet sources, so far the pronunciation of bitcoin is crypto still confuses me because bitcoin is widely referred to as a cryptocurrency. This means that bitcoin is the same as thousands of existing cryptos including shitcoin and this is what makes me disagree if bitcoin is called crypto because it is different from the function of bitcoin that I mentioned above.

That's a good mindset where you have to study the altcoin right after completing the research. Anyway, even though you did study the altcoin but it is not guaranteed that you will gain a profit when the result of your study is positive yet the real results of the altcoin that you have studied isn't on positive situation or in profit side. Well, many people have known that investing in altcoins is not the same with Bitcoin because even Bitcoin is not 100% guaranteed profit.

Yes, there are still inevitable chances that you will also profit from altcoins but it’s hard to tell these days which altcoins that will be profitable for long term and which are not so you have to closely study those  altcoins first before you decide to chose where to invest. And never put them in a centralized exchanges but chose a non-custodian wallet instead. That way, you will have your full access to your investment while securing an open source wallet that provides transparency on your part.

That is a bullshit way of framing the topic, Franctoshi.

You are playing into describing some kind of a nonsensical category of crypto, and BTC just happens to be just one of the possible cryptos.

Think about the level of wrong thinking that must be in your head to frame the whole space in that kind of way.

Perhaps if you try to think about bitcoin first, and try to understand what bitcoin is and how bitcoin developed, and then perhaps if you thereafter want to start to include various shitcoins into your understanding of the dynamics of the space and the dynamics of what is happening with bitcoin, then maybe that might be a bit of a better way of framing the matter rather than starting out with some kind of an amorphous concept of crypto and various crypto and bitcoin happens to be one of the cryptos.

Your thinking and framework is wrong which likely means you don't really understand bitcoin and likely means that you are giving bad and misleading information and advice based on your lack of abilities to frame the matter in a more accurate way.


The conclusion of bitcoin being the best is not wrong...and even bitcoin being the most transparent is potentially directionally correct.. since there likely is some value in the open source nature of bitcoin, at least at the 1st layer.. but there can be various kinds of ways that bitcoin is not completely transparent. .including various systems built upon it, so maybe on a scale, we might consider bitcoin to be more transparent than a lot of shitcoins. and sure the crux of issues with various shitcoins does likely have to do with their attempting to appear as something that they are not.. which just gets us back to many of them. and perhaps even an overwhelming majority of them engaged in some kind of an affinity scam in regards to bitcoin, which also would be further justification why it is misleading to suggest that bitcoin falls just within a category of many cryptos when in fact it is the unambiguous leader in the space upon which many try to emulate or appear to be improvements upon or even sometimes appear to be attempting to build on bitcoin when they are likely not building upon bitcoin as much as they are claiming to be doing...otherwise, why would they need a token (except to be able to print money and to cause the appearance that they token is going to go up in value in order to lure people to invest while the founders get rich.. but they may well say that they are not doing that.. each of them say that they are a legit shitcoin.. not one of those scam ones).

This is wrong and I totally disagree with you that investment in Bitcoin has no risk involved in it, so far as cryptocurrencies are concerned which Bitcoin is part of them, they all involve risk due to the volatility nature of cryptos, however, considering the less risk crypto to invest in, then you can talk about Bitcoin mainly because of its transparency which Altcoins are not.

A very warm welcome to you. I do hope you get all the help you need here.

Besides BTC, there are arrays of altcoins you can make profit from, but also know that you can as well suffer huge losses from these altcoins also. So, nothing is guaranteed.
As a newbie, I will advice that you study more about BTC, and get knowledge before delving into this world of endless possibilities.

[quote/)https://bitcointalk.org/index.php?action=post;quote=62246516;topic=5452782.0;num_replies=56;sesc=f5d4a9a8a6ee64eb7f19a63d16509e9
Welcome to the forum 🙌. Of course there's a possibility of making profit in other currencies like altcions . The problem is that it's not as high and valuable as Bitcoin. Bitcoin is one of the best platform for long term investment although it has it risks but it also generates high sales.


Over time most people prefer to invest in Bitcoin than other crypto currencies because of its vali. That's one of the major things to consider before investing in a cryptocurrency. So how valuable these currencies plays a key factor on how high your profit will be . About the wallet, I think it's better you store your coins in a closed wallet . It's more secure and easy 👍.
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Yes there's a possibility, but is it high? It depends on which altcoin will you buy.
If you will buy the top altcoin right now which is Ethereum, you have a high chance that you can make profit from it. Now the lower the market cap of the coin that you will buy, the lower the chances of you getting profit. Those at the top 10 in terms of market cap can give you profit still, but the chances are lower compare to if you just invest into Ethereum, and so on, and so forth.

If Bitcoin, it's always a hardware wallet that's being recommended, but if you don't have one, I guess Electrum might do as well since I'm using it for years already, and I didn't encounter any problem with it until now.
As for altcoins, I believe that there are some altcoins out there who has their own wallet like in Cardano that has Daedalus, ATOM that has Keplr, and so on. I guess that's the best choice.

To simplify it, it's the availability of source codes that is the difference.

Every investment has risk. I don't think that there's any investment out there that has no risk because you're investing into an asset, and one feature of an asset is it's volatile, so the risk of losing is still there. If you know an investment that has no risk at all, kindly share it here.

Influencers who cover up their failures behind the scenes can actually have a good impact on new Bitcoin fans, because those who are just getting to know Bitcoin can immediately think about owning Bitcoin even though they still don't understand the risks and what Bitcoin really is all about. And those who want to make quick profits I think only of their own will that they still can't practice patience within themselves.

I also prefer the points expressed by influencers, even though they only explain how they are profitable and then also provide a little understanding of the risks so you don't choose the wrong path. And usually the annoyance experienced by those who just own Bitcoin is when they start to listen more to the opinions of other people they don't know so they don't start to make their own stand on this. In addition, falling prices in the market can also be the main reference for them to be afraid, making it easier for them to release Bitcoin rather than be patient and buy back when the downward moment occurs.

That is the problem because these influencers never tell their losses but rather just show all the positive results. This is why people don't think that investing in Bitcoin is risky but rather think it was easy and there is sure profit. Yet, they only just find out after and when they suffer losses.
We can't fully blame these influencers because it was our choice to invest but something to note is that because of their influence, many people got fooled and make decisions wrongly.

These things tend to happen to those who are completely unfamiliar with Bitcoin. Because as they direct the main point is fast profit in Bitcoin investment they do but it will not happen so fast and it takes time to get profit. Yes, influencers do provide an overview of the benefits they get, but behind the scenes they try to cover up their failures.

But if someone has the patience level in investing in Bitcoin they certainly won't lose out if they buy now and hold onto it until next year. It's just that volatility is a distraction for those who are impatient in the investments they are making. So things like this are not the Influencer's fault because they tell the truth but someone who hears it is still newbie to Bitcoin investment.

And it happens to those who got here because of the influence of these social media influencers. There is misinformation that they brought into the minds of their followers and so they expect that buying Bitcoin today will earn a profit tomorrow. That is why we can see many investors had suffered losses and quit crypto as they really don't understand the situation. And much more if someone never says that investing in Bitcoin is not risky, that certainly builds their confidence and invest immediately without knowing what will happen after.

You are right,initially this was my thought on bitcoin too that it is impossible for a bitcoin investor to loss at the long run. Not until I came to understand that due to some circumstances and news on bitcoin it can affect the price to make the dump,and since nobody can know what the price will be next,some people due to FOMO might rush into buying at high price and might end up selling below the bought price because either they don't have the knowledge of the bitcoin or they ended up using borrowed money to buy bitcoin thinking that it is a get rich quick scheme and they will end up being disappointed.

Having the belief that there is no risk in Bitcoin investment is the reason why we have some investors blaming Bitcoin for their naive mistake because Bitcoin only presents a chance of making earnings but investor decision and the market condition is what determines the end result if it will be profitable or not.
Hope the user can do some reading after reading your post.