You've done a great job investing in bitcoins while your friend can't make a profit on shitcoins.
If your friend wants to follow your advice to invest in bitcoin, the loss he will get will not be as big as investing in shitcoin.
Hopefully, your friend can learn from his experience and not touch shitcoins that have no potential to increase and only use bitcoin as a long-term investment.
Holding bitcoins long-term will be more profitable than holding shitcoins because only bitcoins can rise high in the future.
While shitcoins won't be able to do that, even though there will be some coins that can improve, it won't be easy to find them.
Topic: As a newbie I stay off shitcoin and it paid off, Bitcoin is the king. - page 5. (Read 1413 times)
November 22, 2022, 01:37:13 AM
November 21, 2022, 10:59:55 PM
I think investing in both bitcoin and altcoin should be approached with caution, I agree that other people get rich investing but without proper knowledge about what they are doing it might backfire for some, that is why we always tell other people to first study or learn, ask other people about a certain altcoin since those companies have controls over the majority of the coins they can just dump the coin and leave the project and investors hanging, on the other hand holding bitcoin is the safer just like OP said than altcoins when it comes to value.
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."
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."
November 21, 2022, 05:58:14 PM
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.
Altcoins ain't worth the trust many people out there throw on them , for anyone with idea of how dangerous it is to invest into altcoins will definitely not engage into it, despite the whatever short returns it seem to give back at the moment. Bitcoin is just a sure way for any long time investment place on crypto as it has proven itself severally in the past. 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.
November 21, 2022, 05:11:49 PM
I don't even know why people still buy shitcoin, i don't know why I will buy a coin that I won't have rest of mind, I believe people that do invest in shitcoins are not trading but they are just gambling, you have 50/50 chances, is either you lose your money or you win, and most shitcoins are going to die in this current bear market, people that do investment in shitcoins are also going to lose their money.
Even my past I also bought, although I know the risks. But I have an assumption I buy shitcoin then I am ready to lose my money. Several times I boughtwith small money $10-$20. I realized I was ready to lose my money. So I'm doing this analysis purely speculation that I'm doing consciously. But today I have stopped, I chose scalping trading to secure the asset in stable coins. I don't recommend people to invest in bitcoin for short term, if you really want to make money from bitcoin, then you should invest for long term. Also you shouldn't keep your bitcoin in exchange, make sure you withdraw it to your non custodial wallet and secure your private key. I noticed most newbies always keep their coin in exchange which is very wrong.
This is the problem today, many new people do not have the mentality of holding back for a long period. They want to quickly fold their money. So many new people are tempted to buy shitcoins because of the hype.
November 21, 2022, 04:49:12 PM
Bitcoin is a safe coin to hold, but choosing altcoins is not a wrong decision as long as you choose top altcoins. However, it is totally a bad idea to buy shitcoins (coins with no fundamentals or weak fundamentals). I am also holding some altcoins for the long term, but they are top 25 coins. Holding new altcoins is also very risky, it is not recommended, especially for newbies. Regarding the safe wallets to keep the coins, it is ideally in private wallets. Don't put your altcoins on exchange wallets, it is always a high risk as you don't have control over your coins.
November 21, 2022, 03:54:30 PM
worst thing with altcoin is its centralization, this has limited their ability to act and perform accurately without any interference from external factors which are the team.
What is popular among altcoins is that they have no recovery mechanism, this is the reason why any altcoin dip will only go deeper even if the general market conditions have changed altcoins find it hard to recover.
What is popular among altcoins is that they have no recovery mechanism, this is the reason why any altcoin dip will only go deeper even if the general market conditions have changed altcoins find it hard to recover.
November 21, 2022, 02:59:52 PM
Shitcoin is for fast shooters. It is a shoot and run scheme where investors time quick profits when it clicks and run off the system. It is not for everyone and because its not for everyone Bitcoin then becomes the best recommendable coin that can suit any class of crypto enthusiast because as long as the goal is long term there will always be a time for good and quality rewards.
The same quick profits will ultimately lead to quick losses, I don't trust shitcoins and I don't look for their so-called quick returns, because they're just Ponzi, and the bubble will boost as soon as possible. I am aware of the one fact that altcoins always promised to be the best profit-maximizing mechanism for now but to maintain stability, one needs to hold a less volatile assets like Bitcoin vs shitcoins.Bitcoin can not just crash the way other altcoins do crash, and Bitcoin is always recovers anytime there is a dip in the bitcoin market.
November 21, 2022, 11:50:42 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.
I don't even know why people still buy shitcoin, i don't know why I will buy a coin that I won't have rest of mind, I believe people that do invest in shitcoins are not trading but they are just gambling, you have 50/50 chances, is either you lose your money or you win, and most shitcoins are going to die in this current bear market, people that do investment in shitcoins are also going to lose their money. 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.
I don't recommend people to invest in bitcoin for short term, if you really want to make money from bitcoin, then you should invest for long term. Also you shouldn't keep your bitcoin in exchange, make sure you withdraw it to your non custodial wallet and secure your private key. I noticed most newbies always keep their coin in exchange which is very wrong. November 21, 2022, 11:27:07 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.
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.
Well, I will not entirely discount the possibility of earning a quick buck in altcoins but they are not that stable compared to investing into BTC. That is also the reason on why most people have tagged some altcoins as "shitcoin" due to the pump and dump scheme being employed by whales.
If you truly want to maximize your profits, then being SMART on investing in BTC is the way to go. Either you go short/long-term, as long as you profit, then better cash them out to avoid feeling the volatility of BTC!
November 21, 2022, 10:58:10 AM
we have seen how shitcoin used to be hyped in the crypto market. get profit in a short time but also have the risk of loss which is also very fast.
we have our own choice in managing the investment assets that we have. as well as the ability of each person in making an analysis.
OP, I won't blame your friend who might be wrong in investing. the market is just not doing well, and it's taking all crypto assets a hit. even the BTC you have is also getting shaken. maybe your friend is unlucky because they don't follow your advice. or it could also be that your friend just doesn't have that luck.
we have our own choice in managing the investment assets that we have. as well as the ability of each person in making an analysis.
OP, I won't blame your friend who might be wrong in investing. the market is just not doing well, and it's taking all crypto assets a hit. even the BTC you have is also getting shaken. maybe your friend is unlucky because they don't follow your advice. or it could also be that your friend just doesn't have that luck.
November 21, 2022, 10:55:44 AM
You need a lot of patience and courage to invest in Altcoins and succeed. Bitcoin has significant drops too, but not so significant you see your money almost vanishing out of your wallets. Altcoins can do this, if you have a thousand today you may have just a dollar tomorrow if negative news pop up about the coin.
Bitcoin is of course the king. It has endured so much yet it is still up and running, alive and well. I think you can make a lot of money with Altcoins too, but you need so much experience and there is so much risk which begs the question, is it worth it at the end of the day? Because if becoming rich from Altcoins was a thing, why are there so many poor Altcoin holders and just a handful rich ones. Reality is different. Getting rich is not as easy as 1 2 3 unless you are just lucky to invest in the right Shitcoin at the right time.
-
Regards,
PrivacyG
Bitcoin is of course the king. It has endured so much yet it is still up and running, alive and well. I think you can make a lot of money with Altcoins too, but you need so much experience and there is so much risk which begs the question, is it worth it at the end of the day? Because if becoming rich from Altcoins was a thing, why are there so many poor Altcoin holders and just a handful rich ones. Reality is different. Getting rich is not as easy as 1 2 3 unless you are just lucky to invest in the right Shitcoin at the right time.
-
Regards,
PrivacyG
November 21, 2022, 09:36:12 AM
Shitcoin is for fast shooters. It is a shoot and run scheme where investors time quick profits when it clicks and run off the system. It is not for everyone and because its not for everyone Bitcoin then becomes the best recommendable coin that can suit any class of crypto enthusiast because as long has the goal is long term there will always be a time for good and quality rewards.
November 21, 2022, 09:33:46 AM
Many people come into the crypto space with a quick to get rich intention and they feel these altcoins could come good ahead of bitcoin and that's why we read daily of people losing there entire live savings in them...
At the same time, we should not forget that investing in new coins brings a very large profit, which cannot be compared with the profit from holding bitcoin. But such investments can only be made by an experienced investor who allocates a small part of his deposit for this. In this case, the OP's actions are correct, since he does not yet have enough knowledge to trade altcoins.
November 21, 2022, 02:57:03 AM
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.
What a good determination from you OP, if as many as possible newbies we have canbset thier priority to stick on single investment with bitcoin and hold their coins in their wallet and not on exchanges, there will be less need to keep on the emphasis for the need to make the right investment with bitcoin and stay off centralized exchanges, but everyone of them want something huge in profit and very fast in result, forgetting that those things only present them unrealistic expectations of making money quick, they will end up loosing than earnings at the longrun, but for the smart ones, they follow the right path, channel and choose the best option with bitcoin for their investment.
November 21, 2022, 02:33:49 AM
Not only beginners, there are still many investors who believe in shitcoin not because of FTX profit reasons but they don't realize that shitcoin will trap you in the future and especially beginners he must understand about the portfolio he has at least to avoid shitcoin.
I have warned that there are things going on around me especially for those who have invested in cryptocurrencies I just make sure to say bitcoin is a good coin the rest I don't trust other coins, and it's a fact that shitcoins have lost a lot after they trusted them , therefore we still have to be aware of how good the coin is and build hype we must be careful of these traps.
I have warned that there are things going on around me especially for those who have invested in cryptocurrencies I just make sure to say bitcoin is a good coin the rest I don't trust other coins, and it's a fact that shitcoins have lost a lot after they trusted them , therefore we still have to be aware of how good the coin is and build hype we must be careful of these traps.
November 21, 2022, 12:23:29 AM
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.
This experience will open your friend's eyes in investing. it was a rewarding experience. I hope your friend doesn't decide to close the account and get out of the investment he started.You have given good advice to your friend. and the market proves it all. your friend must regret not following you. he must learn well in asset selection and smart investment planning. and most importantly in long term investment, always keep your assets in your wallet. do not leave it on the exchange.
November 20, 2022, 11:36:38 PM
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.
To be fair if you look at the long term history of bitcoin and altcoins (meaning over the past 10 years for example) you can see that altcoins are always dumping without needing something like FTX hack happening. Such hacks only speed up that dump in short term. But when it comes to bitcoin the same thing only causes a drop in short term due to panic sells which will be recovered, something that won't happen for most altcoins (although some would recover before dumping again).P.S. You can't lose more than 100%. Only gain can be higher than 100%.
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.
If advice can't change their minds, let the experience make it work.
November 20, 2022, 06:40:02 PM
Even if your friend's investment went up by 1000%, that still wouldn't mean that altcoins are better than Bitcoin. Altcoins have no future, they will have no adoption and it means there's no reason why they should have value. Their current value is purely based on the bigger fool theory and nothing else. This makes them closer to gambling than to investment, and the #1 rule of gambling is that the house always wins. So even if you manage to make profit on altcoins, you won't be able to repeat it, you will be losing more than you gain in the long run.
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