As a newbie I stay off shitcoin and it paid off, Bitcoin is the king. - page 4.

libert19

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Quote from: Kelvinid on December 02, 2022, 08:29:49 AM

Quote from: libert19 on December 01, 2022, 10:43:04 PM

~

You can't just simply think how they go to x1000, x1500 times. If you are looking for practicality,

Practically 1000x is far fetched, most give 50x-100x at max. Very rare one would go beyond that, provided one has capacity to hold until such returns are fructified.

Odusko

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From the ups and down I'm with altcoin that has affected the entire cryptocurrency market, to the Luna crash and now FTX, the year has been filled with unpleasant events and a lot of frustration in the air.
Bitcoin indeed has shown to be the most reliable coin to hold at the moment most especially now that the price is low, the most important attribute that will make a winner any time anywhere is to buy Bitcoin when the markets low and the price is down.
Deciding to hold bitcoin at this time is the best decision to survive this hard time in the entire market but the most important thing is to hold your Bitcoin in your private wallet and not in exchange.

fortunecrypto

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You made the right decision to stay on Bitcoin as a newbie and for small investors, it's the safest choice, but your mindset will eventually change as time goes by, and you will be tempted to invest in altcoins when the market gets better and there are projects creating a good platform and making headlines in the industry, there's always a big temptation to invest in altcoins because some altcoins are contributing to the adoption of this technology, Bitcoin and altcoins are here to stay, you just have to pick the right altcoin to invest.
Bitcoin should have the biggest percentage of your portfolio.

Kelvinid

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win lambo...

Quote from: libert19 on December 01, 2022, 10:43:04 PM

Shitcoins can give lot more profit in bull markets where people buy anything and everything. In current situation where you aren't sure where exactly market is going, better to stay in BTC or Ether at most.

That is why there are still a lot of people buy shitcoins and are willing to take risks even though they know that these are shitcoins. You can't just simply think how they go to x1000, x1500 times. If you are looking for practicality, you can't really ignore this but also it will encourage you to invest as well. That is crazy but many people love it.

People are buying BTC and potential altcoins during the bear season but they are buying useless and scam coins during Bullrun.
And they got paid off...

CryptoHeadlineNews

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Quote from: Zaguru12 on November 20, 2022, 10:16:04 AM

Every price is a good entry price just that those that gets to buy at lower price have a double advantage of it been a store of value and also gets more profit when it pumps.

Yes. I agree with you on this very statement of yours, because Its simply because those who bought at a lower waited till this moment, that's why are at advantage today, and it also means if you too can buy Bitcoin today and can be patient for the next 2 to 5years, so will you also be at advantage too, and just as you earlier said. Bitcoin has no entry price, any price is a potential entry price

alastantiger

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It takes so much self-control to not dabble into investing in shitcoins especially when one have friends who are making a few bucks off of it.

I remember one of my friends who calls himself shitcoin Lord because of his love for shitcoins. Well, I stay in my lane and have learned from his experiences of loss. It is a path I will never tread. Bitcoin today, bitcoin tomorrow, bitcoin forever.

libert19

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Shitcoins can give lot more profit in bull markets where people buy anything and everything. In current situation where you aren't sure where exactly market is going, better to stay in BTC or Ether at most.

RILWAN

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Quote from: Ojima-ojo on November 28, 2022, 12:15:51 AM

You made a very valid point with this comment, Bitcoin saves us the stress of swap and coin movement from one chain to the other which is why you don't lose with bitcoin, and most times those altcoin holders will not even notice when their token has migrated to another network and their end up losing their holding since the swap is always with a time frame.

Ops as a newbie you should learn how to properly manage your portfolio most especially if you are in as an investors because relying on Bitcoin alone may take longer to achieve your aim and desired profits and sometimes you also lose with Bitcoin too e.g those that bought Bitcoin at the all-time high price of $69,000 are at heavy lose right now.
So investment has to do with time calculation also, altcoin can give you insane profits in a short time when you pick the right coin.

Ojima-ojo

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Bitcoin investment for a long time holding is a very good one, because it reduces the stress of migration or Swap like all these new coming alt-coin has been doing, which many investors have been dropped behind in sense of lack of information on the migration process in due time, Therefore, I still prefer bitcoin with a less stress for a long term holding.

You made a very valid point with this comment, Bitcoin saves us the stress of swap and coin movement from one chain to the other which is why you don't lose with bitcoin, and most times those altcoin holders will not even notice when their token has migrated to another network and their end up losing their holding since the swap is always with a time frame.

Getmon

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For newbies of cryptocurrency market, it is vital to be educated first before investing. Your friend without a doubt was cajoled by his desire to become rich quickly. He saw that shitcoins have the likelihood of swinging up to over a hundred times. But if he was aware of the risks behind it and only invested money that he is willing to lose quick then I see no issue with it. A number of people choose to gamble into shitcoins for the same reason, obtaining wealth quickly.

Bitcoin will always be the best to invest for newbies because of its stability compared to altcoins. Just buy using DCA and hoard it long term. Risking into altcoins is all right when you already mastered the crypto market.

Cookdata

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Not Your Keys, Not Your Bitcoin

Quote from: Ojima-ojo on November 20, 2022, 09:42:48 AM

After I started my Bitcoin holding journey a few months ago,
At that time, my close friend Sam! also have some capital he want to put away in cryptocurrency, and I advised him to buy Bitcoin instead of an altcoin. But instead of him to have a long-term potential mentality, he was looking for a quick profit so he filled up his portfolio with shitcoin, while I went in on a single portfolio of Bitcoin and when the unexpected of FTX hack happen the whole market in shamble and his altcoin portfolio have dropped above %800+ but my bitcoin holding still maintains some level of stability.

This gives me more confidence in Bitcoin and newbie who are looking for long-term holding should hold more bitcoin, in their private wallet to avoid exchange, but your knowledge to always have a good entry price.

When it comes to earnings in the crypto sector right now, even bitcoin cannot compete with altcoins' performance, they are quite good at producing nice ROI, but their drawbacks might make you hate the crypto market. Bitcoin, on the other hand, is quite safe, it has a high return but not as high as altcoins, but it does not crash as frequently as altcoins do, and it is less volatile since bitcoin is more decentralized than altcoins. Only with altcoin projects will you see a token/coin concentrated in the hands of teams and groups of people who may crash the price as they see fit, which does not happen with bitcoin.

lienfaye

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For newbies who don't have knowledge yet about crypto, choosing Bitcoin to invest in is advisable especially if your plan is to hold for long term. Because Bitcoin is more reliable compared to alts and it's less risky. You made the right choice to stick for Bitcoin. However diversifying is not a bad idea, but this is if you already gain knowledge about crypto as a whole and aware of what factors to consider when looking for alts to include in your portfolio.

There are hidden gem in altcoins which can give you huge profit but it's not easy to find it. Even experienced investors are having a hard time to look for such coin since deep digging is necessary.

akuntester1

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Quote from: rat03gopoh on November 20, 2022, 10:31:30 PM

Of course, wherever a beginner hears about crypto it will come to mind that it is a get-rich-quick scheme. What makes them intrigued is the high volatility charts, so bitcoin is far from the investment radar early in their journey.

If advice can't change their minds, let the experience make it work.

It is true that I learned from my own experience.
Investing in the wrong altcoins really does end badly in the end.
When investing, it is important to do research and analysis before investing in altcoins.
Even though some altcoins have the potential to be very profitable, it also carries a higher risk than investing in bitcoins.
But not all altcoins are shitcoins, it is better to invest in top altcoins or better still invest in bitcoins.

Razmirraz

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In choosing a type of crypto asset, especially for newbies, it is highly discouraged to choose coins that have weak fundamentals, let alone choose Altcoins for reasons that are currently popular. In choosing Cryptocurrency other than Bitcoin, there are several important points that can be considered in choosing crypto assets. Altcoin reputation should be considered first by doing research on the targeted Atletico.

Bitcoin is very suitable for newbies to serve as a short term and long term investment medium. Bitcoin which is available in limited quantities greatly affects its value, based on basic economic principles, the more limited the supply or availability of products, the higher the value will be.

suzanne5223

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The bearish market always exposes weak coins and the best investment in all market trends will always be Bitcoin. However, I believe the OP didn't bother about his investment in Bitcoin after the FTX issue lead to some FUD in the market because he totally understands the market price movement. I incidentally met someone on the train last week wish said something negative about BTC due to the current state of his portfolio but he later keeps his calm after I explain the disadvantage and advantages of the BTC 4 years cycle.

kamvreto

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MAaaN...!! CUT THAT STUPID SHIT

Quote from: AbuBhakar on November 22, 2022, 05:13:01 AM

~snip~ Ignoring altcoins that has a lot of potential to grow such as blockchain token is just like fishing only small fish while the big fish is free nearby just because you are scared to venture out.

Altcoins that have great potential will not be too visible but they continue to move to develop their projects. Some of the altcoins such as Ethereum are alternative investments besides Bitcoin which is indeed the king. Ignoring an altcoin that has great potential is akin to passing up the best opportunity that doesn't come twice. But it takes research to do that.

AbuBhakar

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🇵🇭

Quote from: cryptoaddictchie on November 22, 2022, 03:31:01 AM

Quote from: Woodie on November 21, 2022, 07:11:16 PM

While staying away from the so called shitcoins is money saving on one's pocket, don't let this make you miss the chance to invest in promising altcoins which perform better than bitcoin on several occasions !
Btw to make money in the world of crypto, and anywhere else the name of the game is called "risk"! If you can't risk hen you can't not win.. Like the gamblers say "Go big or go home."

Actually it all boils down to risk apetite. Yes investing on shitcoins are scary and chances of losing money here is big but if you can able to surpass those then who knows your pocket would be 100x of your money invested or the opposite youll lose it all. Its all about chance, if you wont gamble any then you wont lose any nor gain too.

This is right, But maybe we should clarify first what shitcoins is really being described by OP, some people categorized all altcoins as shitcoin but some people only categorized worthless altcoins such as meme coin as shitcoin.

Ignoring completely those shitcoins aka meme coins are the best thing to do no matter what is the risk appetite of the user since it’s a complete gamble while investing on altcoins aside from Bitcoin is what we are dealing for a risk assessment. People should know how to allocate there portfolio base on the risk they are entering for that specific coin. Ignoring altcoins that has a lot of potential to grow such as blockchain token is just like fishing only small fish while the big fish is free nearby just because you are scared to venture out.

len01

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Quote from: Ojima-ojo on November 20, 2022, 09:42:48 AM

After I started my Bitcoin holding journey a few months ago,
At that time, my close friend Sam! also have some capital he want to put away in cryptocurrency, and I advised him to buy Bitcoin instead of an altcoin. But instead of him to have a long-term potential mentality, he was looking for a quick profit so he filled up his portfolio with shitcoin, while I went in on a single portfolio of Bitcoin and when the unexpected of FTX hack happen the whole market in shamble and his altcoin portfolio have dropped above %800+ but my bitcoin holding still maintains some level of stability.

This gives me more confidence in Bitcoin and newbie who are looking for long-term holding should hold more bitcoin, in their private wallet to avoid exchange, but your knowledge to always have a good entry price.

Most of the beginners entering the crypto world just want to get rich quick with the assumption of buying shitcoin with faster profits and thinking if they can get 1000x profits in a short time without thinking about a bigger risk compared to bitcoin.
Such mistakes often occur in beginners who have instant thoughts. there are lots of beginners who are in crypto and start investing and have thoughts and hopes like last year some shitcoin pumps were very high but all of that didn't match their thoughts and they actually lost very big on shitcoin.

but I congratulate you it seems you are a beginner who may understand the opportunities in bitcoin for the future and have a very smart mind in the investment field do some research before starting to invest in crypto and in the end you prefer to invest in the right coin, namely bitcoin.

cryptoaddictchie

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Quote from: Woodie on November 21, 2022, 07:11:16 PM

While staying away from the so called shitcoins is money saving on one's pocket, don't let this make you miss the chance to invest in promising altcoins which perform better than bitcoin on several occasions !
Btw to make money in the world of crypto, and anywhere else the name of the game is called "risk"! If you can't risk hen you can't not win.. Like the gamblers say "Go big or go home."

Actually it all boils down to risk apetite. Yes investing on shitcoins are scary and chances of losing money here is big but if you can able to surpass those then who knows your pocket would be 100x of your money invested or the opposite youll lose it all. Its all about chance, if you wont gamble any then you wont lose any nor gain too.

Adbitco

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Quote from: tvplus006 on November 21, 2022, 09:33:46 AM

Do not also forget that investing in new coin and token is like a gamble because you may not know the future of what you are investing so there's every potential you could lose all funds without having any left with you. But bitcoin holding is almost 79 percent sure because you can't lose all at a time rather only with some percentage changes. Bitcoin are for long term investors who doesn't want quick scheme of money rather than just investing and hold without being worried of making profits sooner or quicker.

Topic: As a newbie I stay off shitcoin and it paid off, Bitcoin is the king. - page 4. (Read 1413 times)