Bitcoin is not profitable anymore, Altcoins like Avalanche / Algorand etc. are - page 2.

bestcoins1

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Quote from: husdemba on March 24, 2022, 01:40:32 AM

As Bitcoin dominance declines, other cryptocurrency projects will grow stronger. Currently, people only own Bitcoin with the idea of a guaranteed investment. If trust in other projects increases, Bitcoin won't be the first coin forever. Time can bring us many surprises

And since Bitcoin was born and became the first cryptocurrency, no other coin has been able to match or rival it until now.
I think you need to visit the market once in a while to see what market conditions are when Bitcoin is declining and when Bitcoin is rising, because what I've seen other altcoins are very often going down when Bitcoin is going down.
And vice versa, so how come other coins will overtake Bitcoin if that kind of thing is still happening very often in the market every year Huh

Kunnu

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I believe the old technology of BTC is not going to create any barrier in its future progress because these days many people consider Bitcoin as digital gold and I am agree with them it's all shows the massive adoption graph of BTC although buying a whole BTC isn't an easy deal for anyone if someone wants to expect huge profit with BTC then the person needs to invest big amount so on this basis I can't say that BTC is not profitable, it is profitable but only for those who are capable to invest a decent amount in it.

kojektea

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Quote from: Master of Shitcoins on March 19, 2022, 02:54:48 PM

Conclusion: new tech (Avalanche, Algorand) is king and will replace old tech (Bitcoin) because better tech always wins.

I'm sure the old technology (Bitcoin) will never be forgotten, although in terms of benefits, the new generation of technology will be much more used because the new technology will produce more perfect features.
But everyone will not forget bitcoin just like that, after all bitcoin has made history and has even been in the first position as a cryptocurrency for years.
Everyone who wants to get into cryptocurrency always knows bitcoin first and they will definitely buy it.
Even now bitcoin is the center of all cryptocurrency coins.

husdemba

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As Bitcoin dominance declines, other cryptocurrency projects will grow stronger. Currently, people only own Bitcoin with the idea of a guaranteed investment. If trust in other projects increases, Bitcoin won't be the first coin forever. Time can bring us many surprises

Anguwa

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I don't believe what you mentioned is correct; I am aware that some altcoins earn more profits than bitcoin, and I also believe that Bitcoin accomplished it 10-100X years ago. But did you realize how many individuals embrace and accept Bitcoin on a daily basis? , did you know that cryptocurrency is getting viral all over the world?, I don't believe there is any coin that can compete with Bitcoin, because it has been and will continue to be the main cryptocurrency hero. Bitcoin is the only coin that can provide you profit and keep you prosperous in the long run, unlike altcoins that give you profit today and then disappear tomorrow.

Nivia1st

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for a certain time yes, avalanche is more profitable. but if it's about the long term, bitcoin is still the winner nothing can be better than bitcoin. once the avalanche hype has worn off, this coin will just be like any other altcoin following bitcoin's movement. this is the same case as Shiba Inu, Polkadot, or doge. when the hype fades the price will stop rising and it will be difficult to even go higher.

tbct_mt2

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Avalanche is a good coin to choose for long-term portfolio. It has a good blockchain technically so it has a good future to grow.

With altcoins, choosing good ones technically then filtering them more to pick a few ones with good in both technical and ecosystem aspects. Next you can hold them and wait for their growth.

Don't arbitrarily listen to and follow advice of any altcoin experts to pick shit coins and hold them. Holding shitcoins will mostly end with pain, seriously.

livingfree

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TL; DR.

Bitcoin is still profitable and that's based on my experience. I've been years holding altcoins and bitcoin and all I can say is that I've got most of my profits highest through bitcoin.

I know that there can be defi, metaverse, and any other projects that can make someone wealthy through holding and investing just like what we do in bitcoin. But the sense is that bitcoin is stable no matter what the trend of the market, it will always be there and will remain at the top.

Whilst the other altcoins can be good as they are today, we might not see them in the next years and there could be a huge drop on its market cap and volume.

The whole market is being led by bitcoin, do not forget it.

||bit

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Bitcoin is the best coin to inverse your money.The purpose of altcoin was to get all the old loss. How you concluded the statement which is extraordinary.Because the bitcoin was the base for the most of the altcoin. Even now many potential market may survive in the market. But bitcoin place was not in the traders heart. Their are lot of good coin like Ada, Matic, Ripple to inverse. Don't think huge to buy or inverse on crypto.

Vaskiy

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What OP have said is the truth, better technology always wins. Same is happening with the cryptocurrency. Even with more and more innovative projects it wasn't able to compete bitcoin. Even now bitcoin is set as the reference and the projects were developed. What OP have mentioned looks like promoting projects making comparison against bitcoin. The altcoins suggested were potential ones, but such a hype isn't required.

Earlier during the days of ICO we can see promotions with comparison against bitcoin in terms of transaction fee, confirmation, and different other technical parameters. Finally after the launch we can't see the same getting used anywhere.

TelolettOm

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Quote from: Master of Shitcoins on March 19, 2022, 02:54:48 PM

Conclusion: new tech (Avalanche, Algorand) is king and will replace old tech (Bitcoin) because better tech always wins.

Say what you like when you still have the belief about this. But, never force anyone to trust you. History has proven anything. Bitcoin will not be replacable. You know, how many altcoins claim to replace Bitcoin so far? SO many.
But, can they?
Of course, NOT
Why?
Because Bitcoin is the king, never be replaced even Ethereum is the best altcoin.
You may say about Avalanche and other probabilities. I know that this coin is also potential, but the historya dn value is still far away from Bitcoin, how can replace?

timerland

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You can make the argument that BTC has always been one of the worst "technology" coins out there.

That's simply not the aim of BTC, in my opinion.

BTC is simply a reliable protocol for transferring and storing wealth. There is no need for smart contracts and complete anonymity or DAOs or NFTs. Other chains can do the job.

But regardless, people are going to go back to BTC to store wealth for the long term. And that's what drives adoption and use.

evichi

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Bitcoin still have the potential to be profitable only if you have the strength to HOLD. Though, Bitcoin may not make fast profits when compared to some Altcoins, like the ones you mentioned, It should not be ignored. Like the saying goes, familiarity breeds contempt. We are familiar with Bitcoin that is why some of us take its potential for granted. According to Cointelegraph (https://cointelegraph.com/news/only-10-of-bitcoin-supply-left-to-mine) only 10% of the Bitcoin supply left to mined. Bitcoin has a hard cap of 21 million coins set by its anonymous creator Satoshi Nakamoto. The hard cap on Bitcoin is critical to its value proposition as a currency and an investment tool. The law of demand and supply will always apply and what it means is that the value will continue to go up. The smaller the quantity, the more expensive it becomes. The use case of Bitcoin is very high as it dominates the crypto market by 42.11% while Ethereum, for comparison, dominates by 18.54% (as at March 20, 2022 at CMC).

Coyster

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Quote from: Master of Shitcoins on March 19, 2022, 04:40:39 PM

Never bet against new tech, bro

And how many of such 'new tech' have we seen in the past, and where did they end up, do you remember when ICO and the rest were just as popular as DeFi and others nowadays, but what happened, we found out quickly that most of all these 'new techs', new projects and all are just being moved by hype, and when the hype slows down, that is more or less the end. When talking about actual utility, you are basically talking Bitcoin, it does not have to be receptive to all of these new stuffs coming into the market, cause it is already useful enough in itself to be used all around the world, most especially as a currency, what i mean is: a payment method.

How many of these new coins you are fascinated about is being used as a currency? Mind you, i am not questioning your love for new projects and their likes, but they are nothing compared to Bitcoin.

ajochems

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You should not get into the extreme statement at any point. Many people became a millionaire, when the price of bitcoin had reached the value of 60k dollars. Do you disagree on this! Not a possible one. Investment on bitcoin need huge for huge profit. But it doesn't mean, it won't give you.Now current situation for the money investors is altcoin.But we can't say bitcoin will not give you profit anymore.Altcoins are boom to less money investors.

cryptomaniac_xxx

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Quote from: tsaroz on March 20, 2022, 12:45:18 PM

Bitcoin is still profitable. May not be as largely profitable as Avalanche or Algorand but is still a safer bet than any other altcoins. And the chances price of bitcoin to keep rising is more than any random new altcoins as there are no real competitor to bitcoin on its genre. A new coins with newer tech could bring more utility but they would also be constantly fighting with newer similar coins while bitcoin has no actual competition.

Of course, bitcoin will always be profitable, no matter what people or investors say. The altcoin advantage is that they are cheap, but if you are going to put the same money, it's better to invest it in bitcoin because it is solid, a prime mover and the risk is very small. As compare to altcoin that it might do a rug pull or the increase in price is just for short term and then the pump and dump scheme which is very dangerous as you can lose your money in short amount of time.

tsaroz

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Bitcoin is still profitable. May not be as largely profitable as Avalanche or Algorand but is still a safer bet than any other altcoins. And the chances price of bitcoin to keep rising is more than any random new altcoins as there are no real competitor to bitcoin on its genre. A new coins with newer tech could bring more utility but they would also be constantly fighting with newer similar coins while bitcoin has no actual competition.

Crypt0Gore

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All thanks go to Bitcoin because that's why almost all altcoins are surging as well, if BTC has a bad move it will affect other altcoins that's why BItcoin must be in a good mood for altcoins to shine.

WalkerIVIV

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you could say all those things regardless the trend setter is still bitcoin, you see although bitcoin is still rather old and being called as centralized for someone that have relatively huge capitals in their hand, it’s still the only altcoins thats being followed by quite literally
all other altcoins available in the market right now, everytime bitcoin going down, the other is also going down, and fluctuation in btc is still considered relatively huge that means its still have the same potential compared with any altcoins with lesser market capitalization.
if it comes in investing with bitcoin, i’m sure your capital plays the bigger role here, smaller capital tends getting swept over.

GreatArkansas

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Quote from: imamusma on March 20, 2022, 05:45:38 AM

Quote from: sulis sudibyo on March 20, 2022, 02:02:20 AM

Are you sure?
Have you ever thought that the bullrun wouldn't start before bitcoin went up. so if you believe bitcoin is not profitable then the whole market is not profitable anymore. Coins that you think are very good and have great potential because they are newly released will not develop because the market is no longer profitable. So basically your thinking about bitcoin's golden age is over is wrong.

Yes, in this case I strongly agree and agree with your statement because it has been proven from year to year when market conditions and Bitcoin are not good, then almost all altcoins experience the same or worse than Bitcoin, and vice versa when the market and Bitcoin is starting to fix its price in the market.

I agree with OP if you want a huge ROI but risky. Go for altcoins.
But what a good portfolio looks like for me is having a huge exposure on Bitcoin or other high market cap altcoins. And other than is adding to some mid to small market cap as if it will go well, you will be expecting huge ROI.

Topic: Bitcoin is not profitable anymore, Altcoins like Avalanche / Algorand etc. are - page 2. (Read 417 times)