Topic: Best arguments to make your friends understand that altcoins are not good - page 7. (Read 1140 times)

My number one rule for investing is, don't invest in anything you don't fully understand.

To me bitcoin is very easy and simple to understand. All bitcoin is is an extremely secure and decentralized store of value, that can be sent and received instantly anywhere in the world.

But whenever I read the description of any altcoin to try to understand its purpose and value, the language used to describe it usually extremely technical, abstract and convoluted.
I doubt any ordinary person can understand it. Many have described it as techno-babble. I always think to myself, what the hell is this shit even for? It sounds like they pull this crap out of their ass to make it sound impressive but also to hide what it really does behind a bunch of techno jargon. Like how lawyers try to sound impressive with legalese that no ordinary human can understand.

Similar to how slimy lawyers  (is their any other kind?) try to hide their shenanigans under a mountain of legalese.
At  the end of the day shitcoins are little more than a bunch a high-tech ponzi schemes.

That is why I invest primarily in the stock market and bitcoin. When you read about a company in the stock market it is pretty simple and straightforward to understand what the company does.
But whenever I read about some altcoin it makes my head spin with the amount of techno babble used to describe it.

Altcoins are also easily manipulated by the founders and VCs. They can print unlimited number of tokens and dump them on you at anytime. That is not possible with bitcoin.
My number one rule is, don't invest in anything you don't fully understand! If you don't know who the sucker at the table is who is about to get dumped on, then the sucker is you!

no arguments because they are good.

it's not the price it's the usability.

some people need updates, it's not 2010 anymore guys

As long as there is bitcoin dominance in the market, altcoins will never make a significant place in the market. Although some altcoins are quite competitive like bitcoin, but they are always below the level of bitcoin. Why? Because there is no clear utility case with altcoins, unlike bitcoin that serve as a highly profitable asset aside from being known as a good currency. And altcoins do have regulatory uncertainty, the reason why they become less reliable from its investors, reason why they cannot compete well with bitcoin.

Hi all!

Lately, as Bitcoin approaches to 100,000$ I’ve found myself in discussions with friends who are intrigued by altcoins (not only Bitcoin), particularly those tied to AI, and other trending narratives. Many of these projects come with flashy promises, and while I often point out that 99% of altcoins are scams, Ponzi schemes, or poorly designed experiments, but I’d like to build a more well-rounded argument.

I’m seeking solid, fact-based arguments to explain why Bitcoin remains the superior option and why altcoins often fail as alternatives.

If anyone has good articles, podcasts, or research papers on these topics, I’d love some recommendations. I’d like to arm myself with more than just the “99% are scams” argument to engage in thoughtful and productive discussions.

Thank you in advance for any insights!