Topic: Bitcoin is the smart choice not the entire crypto industry (Read 657 times)

Thats very much true. If you see historic price chart of Bitcoin then its very much clear that bitcoin started it journey from 0$ in 2009 and today standing firmly at 17k. In his decade old journey it has seen ATH of 67k$ also. Can we name any alt that has such price history? No we cant. I am including history of bitcoin price (in the form of chats) that very much sums up why Bitcoin is the best option to invest over alts.



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Bitcoin is not only the smartest but also the safest option. Don't consider the entire crypto market; all others are like gambling, with the majority of gamblers losing money. Some altcoins never regain their value. But Bitcoin is not like them. If you look at the Bitcoin chart, you will notice that it is repeating history, which most altcoins have never done. Recent new projects, as far as I can tell, are completely useless. It's a fucking embarrassment to include them in the crypto industry. They are simply filling their pockets by launch a new altcoin.

For Bitcoin crypto investment assets, it is the main asset for investors and so far there have been many investors who have adopted bitcoin. It can also be seen that the total market supply is starting to run low.
What's more, Bitcoin is the most basic and important asset in the world of cryptocurrency. The price of bitcoin itself has a big influence on almost all altcoin prices that are spread on the market.
As for altcoins, I recommend buying ETH because ETH is the second largest altcoin and the 2nd most trusted crypto asset after Bitcoin itself.

There appears to be solid support for bitcoins from many of you, but I want you to answer this question - Where is the value of bitcoin?  Presently it only is perceived value, not any tangible value (like gold, silver, copper, jewels, oil, etc.) Boil it down, and in reality it is just a bunch of 1s and 0s stuck in some computer chip somewhere on earth. Let's talk reality here folks, not some dope-induced pipe dream from your virtual reality consciousness.  Where is the value of a bitcoin? Is it the fact that it consumes a lot of energy to mine one and prove the crypto hash for more blocks in the chain?  The energy wasted is certainly valuable, but what is the result? (wasted energy). Can not we use other cryptocurrencies (altcoins) to do the same blockchain jobs much more efficiently, consuming less energy?  Or is there only one thing that bitcoin can do better than all the others?  Or is it because it can be traded like stock options or Forex currencies on fragile exchanges all around the globe? What is it? Please help me to understand what is the real value of a bitcoin ??

As Michael Saylor says there is bitcoin community opposite to crypto community and they both dont like eachother. My view (being a member of bitcoin community) is that there is only one decentraliozed coin aka bitcoin rest is centralzied coins, crypto or whatever you call it. There are not many success storeis of invest in shitcoins since even if you get profit at some point, you are deemed to lose it later. But if you invest in bitcoin only then with time you will learn the principles that can give you profit.

The world of cryptocurrency is undoubtedly an exciting and rapidly evolving one, with a variety of different digital assets popping up every day. In this context, it’s easy to lose sight of the fact that Bitcoin is still by far the most popular and its market capitalization dwarfs all other cryptos in comparison.

On its own merits alone, Bitcoin remains an attractive investment option for long-term investors looking for more stable returns. Unlike altcoins which are often prone to extreme price fluctuations due to their smaller user base and less developed infrastructure, Bitcoin has established itself as a leader in the space due to its strong fundamentals. Additionally, recent developments such as the Lightning Network have further enhanced Bitcoin’s suitability as a viable payment platform in addition to being an attractive asset class for large investors.

At the same time however, there are also tangible benefits from investing more widely across different coins when compared to simply sticking with Bitcoin alone. For instance exposure levels may be managed better through diversification among multiple coins rather than focusing on one asset only. Secondly certain projects like Ethereum enable developers much greater flexibility when designing decentralised applications (dapps).  Ultimately whether or not it’s wise to invest solely in Bitcoins depends on one's risk appetite and overall strategy but there can certainly be advantages derived from doing so - just make sure you do your research first!

Bitcoin should be every investor's primary investment in cryptocurrencies, it's proven over time. Bitcoin has the largest user community and it will do better in the future.
But not all altcoins are junk coins, and some can also allow investors to obtain high returns in the short term.

These days while entering the cryptomarket, users does it with better learning. In the past scenario is different, people just enter the market and invest on altcoins in a random manner. As the market get wider, so is the risk of finding the right altcoin. Even now there is misunderstanding between bitcoin and altcoins, just because altcoins have provided with the highest ROI than bitcoin.

Being lucky with cryptocurrency investment happens very rarely, other than being lucky it is a gamble. We need to invest what one can afford to loss, only then we can stay good with the altcoin investment.

Many newbies focused more on other coins aside from bitcoin, this is because they find most of the altcoins attractive and low prices with high expectations from those coins in the future.

They don't mind the risk involved in holding altcoins instead of Bitcoin, most of the altcoins are not suitable for long-term holding, and being a newbie one must be smart enough to avoid and look away from the shitcoins for as long as possible.

Altcoins are not worth investing in.

You're wrong! I'm not trying to separate a part of the huge market from bitcoin, as you do! For me, bitcoin and altcoins are the same thing, of course, bitcoin is of paramount importance, but this does not mean that altcoins are not a cryptocurrency. And you just write as if altcoins don't matter. You have no idea that altcoins also affect Bitcoin, and you are trying to separate a huge part of the market from Bitcoin simply because it seems better to you, but these are conclusions based on nothing.

We separate them because they are indeed different, and by the way you are also doing the same, by thinking in terms of bitcoin and altcoins you are thinking about bitcoin as something different from the rest of the coins in the market, now this may seem unfair to some as there are a few good altcoins out there, however when the majority of altcoins are bad projects then it is easy to understand why people make that distinction between bitcoin and the rest of the coins we have in this market.

Very strange topic name! Why try to separate altcoins from Bitcoin? Both the first and the second are cryptocurrencies! Many altcoins are produced inside the Ethereum network, and they are also cryptocurrencies, and what is the point of separating something that is structurally the same? I think this is wrong!

I will agree with you that bitcoin is the best and safest investment we have on the market. But I also want to tell you that not everyone who invests in altcoins loses, a lot of people have made money and even become rich by investing in altcoins. That's why more people still dared to dive into altcoins than bitcoin. The cryptocurrency market is highly diverse, and everyone has a different choice, let everyone choose the path that is right for them.

Yes, those who invest in Bitcoin to make money are long-term holders, and the big cycle of Bitcoin is also suitable for long-term holding.
It is difficult for people who have not gone through several bull-bear conversions to have such awareness.

First of all, bitcoin does not improve economies, nor does it make us more intelligent, on the other hand, the environment that exists based on Fiat is mediocre due to the individuals who have had decision-making power and control.

 It is not necessary and neither should the discourse be based on the failure of what exists to position or believe that this discourse drives adoption.

It amazes me how many people I see still "investing" in and believing in shitcoins.  However I guess I shouldn't be that surprised being that if people believed in 1% a day guarantees like you saw with Bitconnect, I guess many will believe in just about anything ( and don't learn well from past history).

Anyways I would agree that bitcoin is still assuredly the top coin in it's "area", meaning it's a different type of coin than say Ethereum or Monero.

Yes Bitcoin has never disappointed its long-term holders before because bitcoin will always recover in the long run and make some positive price movement that earns holder good profits, and u have not seen we're anyone ever lose all their money holding Bitcoin.

But then investors must be aware that buying Bitcoin at the wrong time can lead to frustration when the price goes against the buy price e.g, buying Bitcoin when the price is high and expecting to make profits in a short time can lead to frustration, but buying during the dip just like now, can position an investor for quick gain since the market may recover at any point.

I agree, Bitcoin had been proven that its market will give its investors a good profit in the long run.  Even those who had entered on the peak price, Bitcoin often breaks the peak price a year after the halving so there is a chance for these peak price investors to even profit if they just hold their Bitcoins and wait for the market to rally to break the ATH again.

Nobody that can see what is happening in cryptocurrency and happened to put it money altcoin any investment anybody can do more into cryptocurrency is directly 2 bitcoin direct because they know that bitcoin I have a different potential and such potential is something that can make Bitcoin to have more investors

Long term profiting is much connected with bitcoin. The market hype with bitcoin too happens often, but most of the time those are traps. With cryptocurrency, we need to have the patience and the right investment strategy followed. Even now the distribution between users can be seen as the belief over cryptocurrency keeps getting stronger with time.

You can be right but many people don't just look for a long-term investment instead, they are looking for instant profit which sends them to investing shitcoins or hypes projects who promise them huge rewards. It is actually mind-changing, a huge offer could divert their minds and neglected to see the most reliable coin Bitcoin. I can't blame them either as it was their choice but for sure, they will realize their wrongdoings after suffering losses and then invest in Bitcoin.

Do you know that why bitcoin is being respected today it is because it is a decentralized currency and sense no person can accept Bitcoin without you giving the password of your own wallet it will make you to know that bitcoin is very highly secretive to hold so the decentralized aspect of Bitcoin is what make the value to be more precious and more unique from other currencies

The Satoshi's aim for Bitcoin was a decentralized alternative and some cryptography that need time to develop on its own,  Bitcoin has given room for the development of blockchain and every other development of alternative cryptocurrencies.

But there is a 100% chance with Bitcoin since Bitcoin is the primary layer of the cryptocurrency industry, so I agree with you on the assumption of Bitcoin being the mother coin to other cryptocurrencies.

always be the smartest choice but there is a call for diversification because there are some investors that wanted to earn short time so they are betting in fast going projects than bitcoin.
but surely biggest part of their folio are in Bitcoin no doubt in that matter.

Most people will invest in altcoins for a very large amount of money in the beginning they know crypto and only put a small portion of their money in investing in bitcoin. But after some time they see that the value of their investment is not increasing and instead declining, they finally know that only bitcoin will provide high profits in the future. Maybe some altcoins can provide high profits but of the many altcoins on the market, it can be difficult for us to choose one. That is why if we invest in bitcoin, we can expect to get high returns in the future.

Bitcoin are currently the "King of the Hill"... but it is not guaranteed that it will stay there. There are also other Alt coins with very good features, without the head start that Bitcoin has ....as the first coin that were released.

It is not bad for Bitcoin to have competition, because it keeps the Bitcoin developers on their toes. They have to continuously improve on the features to stay ahead of their competitors. (Example : Tx speed was a problem, to they developed the Lightning Network to improve the tx speed)  

Bitcoin has an edge over other altcoins and it is the best choice for most investors. Bitcoin, as the king of cryptocurrencies, brings a lot of benefits and freedom to people. Bitcoin is still a good currency and investment in the long run, really realizing the importance of Bitcoin in the cryptocurrency market.

Volatility or price stability, even centralization are not the main problems with them. The main problem is that they are scams, they are created only to be dumped to "investors" and then the devs abandon the so-called project. And the second problem is even deeper - blockchain and cryptocurrency technology is not fundamentally very useful, it doesn't solve some big problems, it doesn't solve many problems, and it's full of drawbacks. So even the few projects that are honest and have devs who really try to create something are doomed to fail.

Bitcoin is always the best for its proven record. The competence from the altcoins keep the market of bitcoin high against the altcoins. Based on this it is good to have our funds diversified than investing completely on bitcoin. At any instance bitcoin won't leave you at loss, but the same assurance can't be expected with altcoins which is the riskier part though some of the altcoins have provided with high roi on the investment than bitcoin.

That was how people think during the early days of Bitcoin.  But I am glad that many realized that they are wrong about their bad impression of Bitcoin back then.


Of course!  If you have altcoins and Bitcoin as option, it is best to choose Bitcoin.  Bitcoin had established its economy and community.  Bitcoin adoption already reached new heights since some country is accepting it as mode of payment and legal tender.  If we want  more liquidity, Bitcoin is always the answer among the available cryptocurrency in the market.

Well I did have wrong perception about Bitcoin back then since I thought it was being used in the dark web and making me think that if I bought it then I might be waiting for a knife in my back one day, but I guess I was being paranoid through my lack of knowledge in crypto.

Bitcoin is always going to better choice in the end, and I am not sure what your friend is really doing.
No one wants some other authority managing their money in their own wallet.

Also, diversifying your investments is good but make sure that you are filling your portfolio with high potential coins in the market. And as much as possible, accumulate more bitcoin than top altcoins. Because in the end, some top altcoins do not guarantee huge price increase, some even fall on the process. But bitcoin will always  skyrocket especially when there are signs for the market to become bullish again.

In my opinion BTC is also a best choice rather than other crypto cause they are such volatile as compared Bitcoin price action. And I am also holding Bitcoin and also crypto and it made me realize that how good investment in Bitcoin. There was a time when I started investing in crypto and also other such coins and that made me lose so much money. And Currently I am recovering from my losses and soon I will be able to generate good income from Cryptocurrency.

Bitcoin is the first cryptocurrency and currency introduced by satoshi to be a means of fast and secure transactions without the involvement of third parties. investing in bitcoins is a smart way for a person or company to make their reserve assets in bitcoins. bitcoin is already the legal currency for elsavador and it is history for us to remember. where shitcoin comes that's a scent that is always present in every business. if not shitcoin maybe cryptocurrency wouldn't be as great as this but the existence of shitcoin is also a dilemma in cases that arise every day.

maybe the important point is that investing in bitcoin is a better investment than other coins. bitcoin is going to rock the world and it is going to happen so that opportunity is what will lead us to become the next millionaires. in your portfolio, don't have shitcoin because it tends to be a useless asset in the future.

Btc is gaining more attention now than before no doubt, but it doesn't seem that people crypto or btc is been used as a hedge against inflation as you have described otherwise the market will react differently especially with the high inflation rate, instead the price of btc keeps dropping and this is because people are selling their coins to fiat despite the inflation.


yeah, can't deny that the recent bad news happening about the centralized projects has impacted btc negatively directly or indirectly.  However, I can't say they are the major setback for btc global adoption because as it is, only a few of the many centralized coins in the market are known to the top players. Centralized coins can not stop btc from gaining global recognition.

Bitcoin will always have edge over all other cryptocurrencies, been the first, the most traded and only coin with the highest volume in the total coinmarketcap. Because one sure thing about Bitcoin is that it's best for long term investment, unlike most altcoins with high volatility to either fall or rise very within a short period of time. And that's how people who keep holding Bitcoin against other shitcoins will continue to be on the safer side in times like this.

Many people don't understand the whole concept of bitcoin and with the wrong perception towards it they make  huge and regrettable mistakes by going for other cryptocurrency that are a little bit stabilize and its control by one CEO of the so called platforms.

The same faith happened to one of my friend who bought crypto in BTC but decided to sell it and get a more stabilze coin which he said he sold because of the unstable nature of bitcoin and i tried to advice him on leaving it as bitcoin but he said the only reason he bought was because of the high fees included in saving in fiat so he said he doesn't want anything that would be of inconvenient to  him. But i would think bitcoin is far better to these other coins because its decentralized and no one controls it and nothing like a news about it crashing all of a sudden jist like the FTX saga that happened where a lot of people just like this my friend has purchase alot of their coins and saving it online instead of the non custodial wallets which is more preferable.

For now, blockchain is mainly used in the cryptocurrency space because its potential was known by the world through crypto, and in the future, more enterprises will make use of blockchain for data storage, security, voting, etc.
Have you wondered why all governments choose to acknowledge blockchain? They are doing some research on how to make use of it in the medical, security, and election voting specialization.

If you're a risk taker who's also an altcoin enthusiast. I believe the best thing to invest in right now is altcoins that did well in this bearish market because they are literally good for the next few year's market.
Just like CZ said "bear expose weak coin"

I don't understand the logic behind gatekeeping the rest of the cryptocurrency industry and only ever using bitcoin. The fact that we came this far not only because of bitcoin but of course because projects left and right are vying to be its successor is what made this industry this big. Granted there are shitcoins every now and then but bitcoin couldn't cover every utility that altcoins provide. Bitcoin could remain the top cryptocurrency without antagonizing every other altcoin in existence just because it is "better" and the existence of altcoins makes bitcoin look "volatile" from the outside market's perspective. There's money to be made and a future to look up to in this industry, and that is partly thanks to the existence of altcoins on the market that keeps the industry relevant and the competition for top 1 fierce.

I don't consider CBDC as a cryptocurrency most especially those that are I'm not run on the blockchain, recently my country central bank concluded it CBDC project and it launch.
But the disappointing part is that the CBDC is not a blockchain-based.
But you talk about stability and peace of mind for long-term basis, bitcoin will definitely be the first choice and a priority concern.

Bitcoin is the top investment in cryptocurrency, although there's other projects in the space. We should focus all our time on the main project in the space rather than getting along with smaller projects or altcoins that don't yield profits. Sometimes, these altcoins are scammed and fail programs that don't have the capacity to credits their investors. The moderators behind bitcoin are very smart because they always make out time for both the dump and pump of the coin and it's reliable to place full hope on it.

I feel like it is used mainly in crypto and that is a good enough reason. I am not saying that it is the only way to make money or anything, but blockchain is not really widely used in all other places, it is mainly used in these places and that's normal.

I feel like the best thing to do right now is to invest into things that have either good blockchain used by millions just like bitcoin, or if you want to invest into something new, then make sure that they have some improvement and something better with their blockchain, something that has the same as everyone else, literally copycat, doesn't mean it will be good, nothing like that could ever be good in the long run.

Bitcoin is to be seen as the mother coin of all cryptocurrency. So this i can agree with you.
People are trying to adept to the concept hence making their own tokens. and with that they are creating all kind of shitcoins as you mentioned.
for me though, i always try to keep all my holdings in BTC, others will fade away eventually.

Well, everything in crypto needs calculated risk but since altcoins have less potentials and are even more risky than bitcoin then we should deal it with more caution. That is why investing only in the top potential altcoins in the market are the ones advisable, and disregard others as they could end up as shitcoins. However, bitcoin investment should be the top focus above everything else. If we can make 90% with bitcoin, and the rest are potential altcoins, I think that will give us maximum profits in the end.

Yes, blockchain is a technology, not a market. However, it is not only used by cryptocurrency because it's also an important technology to medical practitioners, banking institutions, security, etc.
I don't know others but when people like said BTC is a safe haven, I simply mean it is the best cryptocurrency investment but that doesn't it being the best won't experience some challenges and the crisis the world is currently experiencing now won't have had much impact on BTC if we're not in bearish season.

Some people may hype BTC but we don't need it because soon or later more users will be attracted to BTC I just that the new Brazil Presidential elected signed the bill that will acknowledge BTC as a legal tender in Brazil when he resumes office.

Not sure if it is the other way around. Bitcoin does not give a single crap about government though we can say that it is kind of affected with FUDsters that brings the prices down. Government is the one having problem dealing with decentralized crypto like Bitcoin since it is entirely decentralized itself and the least thing they could do about it is just ban exchanges or disallow usage of crypto app or anything means necessary to put a stop on people trying to use Bitcoin, but still in the end people were still able to bypass those restrictions and bans though they might need to take extra precaution to not get caught of course.

There is no doubt about Bitcoin being the pioneer and the overall and general name of what cryptocurrency is all about but Altcoins that are built to have a similar way and form of transaction with Bitcoin comes with various problems which is making people to have doubts about cryptocurrency.

Wise investors choose what has a good history and a bright future, which is why they choose Bitcoin for long-term investment, but some people choose some good Altcoins for short-term investment because they believe it provides more profit and has a higher risk.

There are a lot of people who don't invest altcoins for huge profit within short time but they mistake by choosing best and potential projects. Bitcoin should be first choice who are familiar with crypto currency. But different people may have different opinions. Smart people will think about future, potentiality and uses case.

I agree with the op that while Bitcoin is relatively low-risk and has high prospects, it's dangerous to use the word 'crypto' instead of Bitcoin when talking about long-term investments or mass adoption because the vast majority of altcoins are very risky and have a low chance of becoming anything more than failed projects or Bitcoin clones. Hodling Bitcoin and perhaps Ethereum is one thing, but hodling some random altcoins is another, and there's no reason for them to recover when the bull market comes or to become more widely used in the future.

I think most of the Bitcoin or altcoin community still have the same view that Bitcoin and Altcoin are the same digital asset, most of them define Bitcoin as a digital asset which is quite expensive and has the largest market capitalization of all the coins on the market. With cycles and temperaments that are different from stocks, used by traders to seek profits and also because Bitcoin is valued once every three years and has experienced a significant increase in its fourth year, not a few people collect bitcoins to seek more profits or as an asset diversification and or investment alternatives.

Therefore, I think literacy about Bitcoin and altcoins must be increased for beginners who enter the world of crypto.

Blockchain is a technology and it used by Cryptocurrency. It is not a market but cryptos can be. Coins other than BTC doesn't affect BTC but it was the BTC rather that influence them. I am talking about the price there but in terms of reputation then maybe they can affect BTC. I don't know why they termed BTC as a safe haven when the truth is that it is not immune to some hazards including the crisis that the world is currently experiencing now.

I think people just want to hype up BTC in order to attract more users in it. We want more adoption but it would be better if we are honest and tell everything that can possibly happen in BTC.

Actually, we have two main Cryptocurrencies in Crypto Space/World: Bitcoin & the rest

Bitcoin does not seek to be a global currency or system. The main purpose for its existence is to serve as system to preserve values during a global chaos.
It will be one of most powerful antifragile systems ever built and will be use to preserve lives and other valuable in time global uncertainty/tyranny as it's built on a solid foundation.

Others, especially the scamcoins, will likely be adopted by tyrants, false messiah, dictators and slaves and be used as tools for persecution and global tyranny. So, people need to be extremely careful with the choice they make. Bitcoin Master has chosen Bitcoin and no one in the world or below can defeat it.

Smart for holding it for hodl purposes but not smart option to have if you only have less money for investment because your money will go sleep and the volume will not grow with that. You will still need altcoin with this since trading it and try to gain profit is much really better option to increase our portfolio. It's just we should not let any people hype us because its to bad for us to get FOMO since this could empty our pocket since its so bad if we became a holder of shitcoins.

Bitcoin's biggest problem aren't the altcoins. Bitcoin's biggest problem are the governments/central banks and the big army of haters/FUDsters.
There's nothing wrong with having a bunch of decentralized altcoins trying to compete against BTC(assuming that they are legit altcoin projects, not shitcoins). PoS altcoins are kinda centralized, but that's a subject for another topic.
Centralized altcoins like Ripple are basically "glorified digital money". There's no point of their existence. The people could use the digital money in their online bank accounts or Paypal accounts. What makes Ripple better than the digital fiat money? I can't find a feature that makes Ripple better than online fiat money.

those who choose bitcoin are indeed smart people. but of course in this case, of course, different opinions and wishes of everyone. and most people who don't want to buy bitcoins because they don't know the real thing about bitcoins. and most people think they always want to get rich quick and greedy. and finally they invest in low-quality altcoins, because they want bigger profits. even though if we are greedy, especially if there is no knowledge, it will actually make the situation and situation worse.
and I personally used to experience frequent losses and the cause was greed. so in conclusion people who choose bitcoin are smart people.

Yeah, I agree. This is precisely the reason why the word crypto has now fallen from what used to be a prestigious spot. It is now being highly equated with shitcoins and shit projects and airdrops and all kinds of scams. It is now being equated with centralized platforms that offer unsustainable gains. It is now being closely attached to Ponzis.

On a different note, it is also unfortunate that Bitcoin is now being treated as if it is one among the different products of the traditional market. While it supposed to counter inflation, to somehow act as a hedge, its correlation with stocks, for example, has been hitting ATHs. I feel like there's something odd when people buy and sell Bitcoin according to indicators used in analyzing the traditional market.

Accumulate bitcoin as much as you could and this is where those smart investors had been doing on which they are diversifying throughout on altcoin investment but in the end of the day they would
really be making out some conversion and would really be that tending to accumulate bitcoin which is a wise move.We know that altcoin arent that a bad selection or choice
but when it comes to future or potential then we know that Bitcoin is much more preferred and mainly been supported which it is really safe to presume
that it is really just right for you to accumulate it.

Exactly. People who are a fan of altcoins in their early days after they were introduced to cryptocurrency will realize how Bitcoin really matter in the cryptocurrency market.
That's why people saying if you will buy some altcoins, make sure you got some Bitcoin from your bag or Bitcoin is the largest percentage of your portfolio.

Some people always use the word bitcoin to their project so that they can convince people that they will get the same pumps and bought their shitcoins offered. The decision making of people to hold is not a smart choice because if they do so they most likely end up getting scam since mot of shitcoins are totally doomed when devs start to abandon it. Much better to trade those shitcoins from time to time and accumulate bitcoins for long term hold since this will make you a smart investor.

There are more than 12,000 cryptocurrencies available in the market. If we consider 90% to be worthless and 10% useful, we are taking 1200 cryptocurrencies into consideration as possible investments, so I guess it's more likely above 99% of cryptos are worthless.

The fact is that very few altcoins worth to be invested and shared side by side with your bitcoin holdings. Some have short term potential, others medium term potential, but on long run no one can beat bitcoin's potential.

I'd still go for investment diversion if it is about this technology, being profitable. Also, when it comes on transactions, there are other cryptocurrencies wherein transaction fees are lower so I would oppose on this one in some way. Indeed Bitcoin is the 'biggest' cryptocurrency in this industry but being biased won't be a help especially in cryptospace.
Not surprising because bitcoin has the largest community of users; thus, it gives the support it needed to recover from any market crash. But if you're just an investor seeking for stability, for sure there are other options such as etherium , which could match with Bitcoin. Putting your money into one basket would be no good.
Bitcoin has nothing to do with Economical events, but the counterpart has. Economic related issues affect the demand towards not only with Bitcoin but also to this technology in general.

With the high rate of unpredictability and the volatile nature of bitcoin, it is indeed hard to defend it as a hedge for inflation. Perhaps individuals have adopted it for an investment based on a long term base due to the fact that, its one that comes with promises in a long run but, that cannot be speculated for a time with all accuracy.
Most of all, governments of the world are taking a different approach towards the idea of a digital currency with the CBDC which is very much not bitcoin built soke digital fiat. As a means to substitute crypto and function in the capacity as some wa to tackle inflation from reducing the printing of notes.
Bitcoin is non the less a good currency and investment but, hardly the hedge we hope it would be just yet.

Our first priority should be on bitcoin not on other altcoins which is very risky in putting our money.
Just like putting 85 percent on bitcoin in your portfolio and the rest are those altcoins that you think it is also potentially can make a profit --or if you doubt give 100% to bitcoin instead.
If you are playing safe in the crypto market, bitcoin is the smartest choice because it is proven and tested already.

Bitcoin was the first decentralized digital currency, and it has the largest user base and the highest market capitalization of any cryptocurrency.
 the underlying technology behind Bitcoin, known as the blockchain, is secure and transparent, which helps to ensure the integrity of transactions.
Many has tried to copy that or improve that in the past and still trying, but all i see is that, they are failing. For sure BTC is the best. But projects created around the concept of BTC which has helped bitcoin to grow more as they fail to deliver what they promise and bitcoin does it right.

Bitcoin should always be the top crypto choice other than altcoins because we have seen and heard that bitcoin still dominates the rest of the crypto investments. Although it’s way more expensive than altcoins, but sometimes we also need to take some calculated risks so we can also be a lot more profitable than our regular income. Altcoins may also have some big potentials to be successful in the long run, but only few of them survive in the end. But with bitcoin, you know it will always be successful especially if you make it a long term investment.

To some extent, when you talk about investment and risk we should consider altcoin discussion as 90% of altcoins are worthless and their sustainable approach to market development is short which is why altcoins can only be considered for short-term investment.

Holding altcoins is the same as gambling you can lose all your money, and you can't rely on altcoins then you should be ready for the high volatility risk.

Because the altcoin market is full of tokens and coins without user cases to sustain its price on the stock market, only the developer has total control since their can mint new tokens at will.

Its simple, these set of investors aren't into crypto space to probably hedge against inflation or for all the benefits bitcoin has but just for profits. Although bitcoin also brings profits but not massively like some of these shit coins. People want to invest few thousands for a profit of millions and this so called altcoins promises this. You use the Terra luna coin for a case study you will notice that it pumped high and people got lots of income and this lure more people to invest almost there life savings in it and then the crash happened.
Although some of these altcoins have holds of staying up for sometime but I don't see them been hand picked for future investments

You can't say all altcoin are shitcoin. I believe in some altcoins mainly because I invest in them. I don't expect all of those altcoin to be great to have in a portfolio let alone their use cases. Indeed, so far bitcoin is a smart choice based on the innovation that is in it. Bitcoin is a currency, a hedge, a long-term investment, and more, but never conclude that all altcoin are shitcoin when you and many others know that it will support the growth of this industry.

I don't think everything you say will be supported and will be justified. But I totally agree that bitcoin is a smart choice as a currency and investment asset. You can 100% believe in bitcoin, but you can't get everyone to abandon altcoin just for bitcoin.

This is what I think as well, if some people want to take additional risks with altcoins in exchange for bigger profits or bigger losses I am fine with that, what I disagree with is the huge allocation of capital those people decide to assign to altcoins, after all if someone invest just 10% of their money in altcoins while the rest is in bitcoin, even if they made a catastrophic mistake they will only lose a small portion of their capital, which can be easily recovered by bitcoin and by themselves as time passes with money they happen to save each month.

You know what.  This can turn into a very long debate.  While it is stupid to ignore Bitcoin's immense success since its launch, Year To Date we are down enough to agree that in some cases at the very least, Bitcoin does not offer a proper hedge against inflation and recessions.  Now the big question comes.  Is Bitcoin really a hedge against negative economical events?

Because if you invested in Bitcoin on the first day of this year, you would be on a big loss.  If you include this year's hyper inflation which further decreased the purchasing power of Bitcoin, you got an asset which certainly does not fit the description of something providing some sort of safety against inflation and recessions.

But on the other hand, if you invested years ago you would be safe today.  However.  If Bitcoin can drop during inflation, and can actually drop significantly.  Do we consider it a safe alternative to, say Commodities?

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Regards,
PrivacyG

I don't understand why you separate altcoins and Bitcoin in this way?? What's the point of that?? Does it look like you're trying to separate a huge part of the market from bitcoin?? By a huge part of the market, I mean altcoins! I believe that altcoins are very important in the cryptocurrency industry, and for some unknown reason you are trying to separate them! Of course, bitcoin is more reliable, of course, it is the main one, but it doesn't seem quite right to separate it from altcoins so categorically! Because these are all cryptocurrencies, and they cannot be divided among themselves!!

The blockchain and cryptocurrency market is an extensive market. I don't see any reason why the presence of altcoins is the major drawback for Bitcoin's global image if investors themselves educate themselves about cryptocurrency investment.
I know you see altcoin as a drawback for BTC's positive global image due to some scam, rug pull, etc done by some altcoin team. However, this is expected in a market that is full of opportunity.
It's the investor that needs to wise up.

Let's not forget that there's something that also impacts the price of Bitcoin. Yes, Bitcoin is the safe haven in cryptocurrency investment but nothing is ever safe.

That's exactly a good point you made here because I also see many people thinking bitcoin is just the same as the other regular cryptocurrencies in the market and sometimes when a cryptocurrency project fails in the market many people will think that is situation is the same with bitcoin and bitcoin is going to fail as well while these two are really different and digital currencies are even more different if you know the definition well.

Bitcoin is supposed to be the main investment in cryptocurrency for every investors. It's advised to have a portfolio of 90% in btcs and only 10% or 5% in altcoins.

Altcoins aren't totally excluded because they also give access to interesting benefits for some investors, which they can't find on bitcoin, so they go for those altcoins as well and we can't say they are wrong for investing this way. Although they are more risky than bitcoin, the potential is still there, anyway.

It just need to be a calculated risk.

Bitcoin is not the blanket of crypto as you are describing since it’s utility is same with other crypto existing. As blanket Bitcoin will cover the whole aspect of cryptocurrency which is not in reality since Bitcoin can’t handle scalability issue in case other blockchain don’t exist.

We can categorized Bitcoin as the only gem in cryptocurrency world because it’s the most precious among all cryptocurrency despite there same category because Bitcoin has the decentralized feature which other currency didn’t meet.

Why then should the bitcoin network have any concerns about other cryptocurrencies whenbthey were not attached to each other, that's why bitcoin bis bitcoin and independently bitcoin and the first digital decentralized currency, other cryptocurrencies were often refers to as altscoins and non of them is associated to bitcoin or be linked to it except if you're been scammed or got misinformed by them.


Yes, your bitcoin in a wallet you have the keys to are referred to as your coins while those you had with exchanges bearing your keys with them are not your coins, which is a simple explanation of not your keys not your coins.


Only if the bitcoin you hold is in your decentralized wallet, bitcoin have nothing to do with altcoins because they were two different networks that operates under different protocols.

building systems  of subnetworks from the bitcoin blockchain is not difficult. bitcoin has the UTXO locking mechanism.. the issue. which also is a big issue for all tokens(IOU's) of subnetworks is the pegging side of the subnetwork

its for those sub networks to ensure that the locked coin of a mainnet which the subnetworks use as reference is actually a subnetwork of rule and protocol to correlate/peg/match and not be able to be abused/depegged.

take some flaws:
1. subnetworks that use multisig. may have a federated group of individuals that do a 2of 4 multisig on the subnetwork
however users AB sign funds of payment with a 500sat fee paying ABCD users fairly and evenly the remainder
yet users CD may make a tx of paying just CD with a 600sat fee. by with CD win a confirm when settling

2. subnetwork multisig partners co-sign all their subnetwork payments that match their token value presumption of a 1:1000 rate

however when seeing 100,000 tokens in the GUI thinking its 100sat owed to them upon settling.
the wallets of the subnetwork have been updated to change the peg to 1:100,000
where by the low level clients still see they have 100,000 tokens at GUI but are signing that they only get 1sat upon settling
and cant see it because the phone wallet GUI does not have any subnetwork consensus or peer review audit of internal payments of the subnetwork

Everything was fine with proof of work coins before the introduction of the ehtereum blockchain that give rise to the layer 2 blockchain which network support all manner of coins and network making it cheap to mint coins and tokens out of nothing, which opens the door for scams other bad situations in the blockchain.

If all coins are built on the Bitcoin blockchian which is somehow difficult due to pow algorithm which will give the coin an underlying value there will be less bad news and events, otherwise, Bitcoin will have to continue to move in the dirty water with other altcoins to succeed the market to continue to be a dominant coin.

remember one defining feature that puts sway towards value of one coin vs another

PoW has underlying costs for coin creation. this means coins are not "printed"(minted) for free

this puts an underlying value on pow coins
the most efficient cheapest way to acquire coins does not sit on the markets. but in the realms of OTC private trade and mining. with mining by the most efficient methods on the planet being the base.

calculating the cost over a 6-12 month scale of the most efficient industrial scale mining in the planet gives you the base cost. which sets the underlying value everyone on the planet will refuse to sell below

bitcoin has the best cost support for highest value of all coins. (warning unless bitcoin breaks and everyone jumps away from bitcoin mining pools)

other coins are more speculative with lower cost value where the market price above their bases are more sentimental rather than fundamental

People who do not know that there is a difference between bitcoins and cryptocurrency will easily discourage anyone from buying bitcoins when there is bad news about one of the cryptocurrencies. For example, some people were quick to say don't buy bitcoins because of the stories about FTX and Sam, they have generalized every problem with cryptocurrency to be a problem with bitcoins, and it is misguiding them. We have to let as many misguided persons as possible know that Bitcoin is a cryptocurrency, but not all cryptocurrencies are bitcoins.

As the quest for global adoption of digital currencies due to the high rate of inflation in traditional papers money keeps surging, attention has been shifted to cryptocurrency as the hedge against the inflation and economic recession that is ravaging the global economy,
And those of us who are early to adopt Bitcoin and seek to build knowledge as regards the technology is seen as the most smartest set of people among the general public.

But one of the major set back against Bitcoin's global image is the presence of other coins who are centralized and highly vulnerable in term of volatility rate and price stability occasion with uncertain events that happens within other centralized cryptocurrency platform.
Even with all this, Bitcoin have remain untouched and it users are the only one who are safe in this time of crisis most especially those who store they bitcoin in their private wallets.

So in conclusion: Bitcoin is the blanket cover for what cryptcucrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people, not those holding and gambling with shitcoins.