The difference between cryptocurrency and Bitcoin is, cryptocurrency is scam, while Bitcoin isn't. If you've read someone say Bitcoin is scam and they loss their coin because Bitcoin is insecure, you must read the whole thread and ask him to know the reason why they say Bitcoin is scam and why they loss their coin. Mostly they say Bitcoin is scam because they invest to ponzi scheme project and their private key leaked due to their fault.
If they use Bitcoin in decentralized exchange and use hardware wallet to hold his coins, their Bitcoin will always still Bitcoin without any reduction or change even though you hold for 10 years long.
Topic: Bitcoin or altcoin? - page 6. (Read 2420 times)
If you are saying about choosing a profitable investment route rather then loss road then definitely bitcoin is the right choice for you ahead and advice will always be the same to anyone.As you have said the altcoin with great community support so you can specify about it? With the amount you can get good amount of altcoin but you will not get any return in the future so are you willing to block your amount in them? If the choice is between btc and altcoin then definitely bitcoin is the answer.
Choosing and investing in bitcoin is a profitable investment and safe investment while investment is altcoins can be sometimes evermore profitable than bitcoin but it can be risky too. We have seen what happened with the investors who invested in FTT and Luna. So, I would recommend investing in bitcoin so you don't lose the money in case any mishap happens in any alt which you have held for the long term.
Leaving sentiments asides, will you advise someone to still buy some Bitcoins (Not up to the value of 1) if they have an amount of money that will be okay to purchase the equivalent of 1 of a good altcoin with a strong community? Is having some bitcoins (in decimals) more valuable still than having the value of one good altcoin?
I never recommend anyone because I'm not a financial or economics expert, but I usually just share what I have, namely bitcoin, even though it's only a decimal fraction, at least it's cooler than holding altcoin units, which one time could have problems, for example the LUNA caseBitcoin is a truly decentralized currency and therefore we see that the majority of the market cap is taken by bitcoin. You should own bitcoin, there is no second thought about it.
Altcoins are made by people to gain money, i would call most altcoins are developed by greedy developers to get the bitcoin from the people and give them useless altcoins which have the risk of going to zero at any time.
Leaving sentiments asides, will you advise someone to still buy some Bitcoins (Not up to the value of 1) if they have an amount of money that will be okay to purchase the equivalent of 1 of a good altcoin with a strong community? Is having some bitcoins (in decimals) more valuable still than having the value of one good altcoin?
I never recommend anyone because I'm not a financial or economics expert, but I usually just share what I have, namely bitcoin, even though it's only a decimal fraction, at least it's cooler than holding altcoin units, which one time could have problems, for example the LUNA case
Leaving sentiments asides, will you advise someone to still buy some Bitcoins (Not up to the value of 1) if they have an amount of money that will be okay to purchase the equivalent of 1 of a good altcoin with a strong community? Is having some bitcoins (in decimals) more valuable still than having the value of one good altcoin?
I never recommend anyone because I'm not a financial or economics expert, but I usually just share what I have, namely bitcoin, even though it's only a decimal fraction, at least it's cooler than holding altcoin units, which one time could have problems, for example the LUNA case
the intended blockchain generation also doesn't want to rush to the throne yet, they are still focused on segmentation and gaining market volume, the future of their version of bitcoin in my opinion is to still want to be at the bottom and wait for profits if bitcoin stumbles and goes down, their preparation is not mastering - but preparing be a successor.
Bitcoin is basically the top choice of investment at this period when most markets are already falling in price, but even though investing in Bitcoin at this period seems to be a risky investment but if properly calculated and buying at a low DCA price will place the investor in a less risky level and the higher tendency of making profits in a short period.
And if one wants to enjoy Bitcoin as an investment one should have a low buy-in price, and hold for the long-term base but for short-term speculators, bitcoin may be way too stable for them.
And if one wants to enjoy Bitcoin as an investment one should have a low buy-in price, and hold for the long-term base but for short-term speculators, bitcoin may be way too stable for them.
I suggest you start studying the market cycle and understanding the relation between Bitcoin and altcoins if you want to play it right, there is still enough time to decide. Considering the previous cycles, it's better to start buying Bitcoin when Bitcoin dominance is low then you can move to some reputable altcoins when the dominance reach a certain point. Indeed, most traders and investors use altcoins to maximize their Bitcoin and don't care about the destiny of the altcoin they sold. In my opinion, buying Bitcoin now is better than buying any other Crypto as the market looks bad and any major drop will pull altcoins down more aggressively than Bitcoin, from other side, in the real bullish case the dominance will increase so you have a chance to buy cheap altcoins with your bought Bitcoin.
in this period of bear market in my opinion buying Bitcoin is the only sensible action, leaving aside feelings! In my opinion, buying altcoins is not a good investment for the moment, to avoid tokens with little community behind them. a different story is if you have altcoins that offer staking and accumulation but without investing.
Of course, history has provided much evidence. We can look at the history of the Bitcoin chart, it can always return to the best price. Maybe that's the reason I and many people have held onto some Bitcoins for so long. Indeed Currently only Bitcoin has a special value, and has great trust. That doesn't happen with Altcoins, other than that many new ALtcoin projects that end up being scams make me more selective in investing.
in this period of bear market in my opinion buying Bitcoin is the only sensible action, leaving aside feelings! In my opinion, buying altcoins is not a good investment for the moment, to avoid tokens with little community behind them. a different story is if you have altcoins that offer staking and accumulation but without investing.
Leaving sentiments asides, will you advise someone to still buy some Bitcoins (Not up to the value of 1) if they have an amount of money that will be okay to purchase the equivalent of 1 of a good altcoin with a strong community? Is having some bitcoins (in decimals) more valuable still than having the value of one good altcoin?
Taking sentiment away and bringing in rationality into this option I'll advise the person to buy bitcoin any day anytime. Buying altcoin is like jumping into gambling and gambling is quite different from business or investment, and if that's your mindset for buying any coin then altcoin should be an option, as it lacks security and assurance, it's like taking chances in a dark corner as the possibility of an altcoin to rise in value is like 1/10 and in recent times we have witnessed the inevitable collapse of many of these altcoins just within a just period of gaining some value unlike bitcoin that have shown how sturdy it's financial security is while other coins fade away.In conclusion, it is better to have patient with bitcoin than doing so with altcoin cause you can even wait endlessly and nothing profitable will come out of it, just like Luna case.
Basically bitcoin and altcoins are assets that are both valuable and tradable.
Both can generate profits for traders and investors, but altcoin tend not to have the same real use cases as bitcoin as a means of payment. Some altcoin also have real use cases, but they are not comparable to bitcoin. Therefore, I think it's okay to suggest someone to buy altcoin for their investment instead of just bitcoin but still bitcoin has great potential compared to thousands of other altcoin in the long term.
About me, my investment percentage is 70% in bitcoin while the other 30% is in altcoins. It's the management part of my investment portfolio, so I guess by diversifying it, I can get peace of mind instead of just invest in bitcoin.
Both can generate profits for traders and investors, but altcoin tend not to have the same real use cases as bitcoin as a means of payment. Some altcoin also have real use cases, but they are not comparable to bitcoin. Therefore, I think it's okay to suggest someone to buy altcoin for their investment instead of just bitcoin but still bitcoin has great potential compared to thousands of other altcoin in the long term.
About me, my investment percentage is 70% in bitcoin while the other 30% is in altcoins. It's the management part of my investment portfolio, so I guess by diversifying it, I can get peace of mind instead of just invest in bitcoin.
in fact altcoins really really have a greater risk than bitcoin.
we take the example of the collapse of FTX and the disappearance of Luna.
from this example we can see clear evidence that big risks must be borne when choosing altcoins as investment assets.
I'm not saying that altcoins are bad but I'm just giving examples of concrete evidence when holding altcoins for the long term.
maybe someone still denies that altcoins are very profitable, I will answer that it is true but only temporarily.
we must really be able to determine the best coin as an investment asset. all investments have risks but it would be better if we choose a smaller risk
And since the OP didn't give details regarding the person's goals, I don't think I can give the same answer to the different people.
I answer like that cause I've experienced it. In 2017 my friend asked me if it was better to buy Bitcoin or altcoins. I said Bitcoin. Then he said "but we can't get quick profits huh?".
Long story short, a few months later he came to me and showed off his profit from buying LISK tokens. What can I say?
That's what I said; the answer depends on each person's target/mission.
There's not much you can say, but rest assured that bitcoin is the best of all existing cryptocurrencies. Talking about profits, it's more about how to see opportunities in taking advantage of investments, both in bitcoin and altcoins. In the long term, it is clear that bitcoin will be able to maintain the value of the investments you and them invest in, but altcoins are still quite speculative and do not carry any guarantees in the future, whereas bitcoin has proven much earlier.I answer like that cause I've experienced it. In 2017 my friend asked me if it was better to buy Bitcoin or altcoins. I said Bitcoin. Then he said "but we can't get quick profits huh?".
Long story short, a few months later he came to me and showed off his profit from buying LISK tokens. What can I say?
That's what I said; the answer depends on each person's target/mission.
But in the end, people have their own understanding in finding answers according to the tastes they need, many cases were found and I also experienced a big increase from the bitcoin investment that I did from the previous year, moreover bitcoin was able to maintain the investment value in the future.
If you are saying about choosing a profitable investment route rather then loss road then definitely bitcoin is the right choice for you ahead and advice will always be the same to anyone.As you have said the altcoin with great community support so you can specify about it? With the amount you can get good amount of altcoin but you will not get any return in the future so are you willing to block your amount in them? If the choice is between btc and altcoin then definitely bitcoin is the answer.
Holding altcoins is probably the riskiest thing an investor can do. If Bitcoin returned many times after the bear market and each time became stronger, then not all altcoins could repeat this. Many of them have become nothing and taken away from investors their funds, so is it worth taking these risks if there is bitcoin? The answer is obvious.in fact altcoins really really have a greater risk than bitcoin.
we take the example of the collapse of FTX and the disappearance of Luna.
from this example we can see clear evidence that big risks must be borne when choosing altcoins as investment assets.
I'm not saying that altcoins are bad but I'm just giving examples of concrete evidence when holding altcoins for the long term.
maybe someone still denies that altcoins are very profitable, I will answer that it is true but only temporarily.
we must really be able to determine the best coin as an investment asset. all investments have risks but it would be better if we choose a smaller risk
Leaving sentiments asides, will you advise someone to still buy some Bitcoins (Not up to the value of 1) if they have an amount of money that will be okay to purchase the equivalent of 1 of a good altcoin with a strong community? Is having some bitcoins (in decimals) more valuable still than having the value of one good altcoin?
Its got to be bitcoin. Without any doubt. In a bull market you'll have more profit with bitcoin than altcoins.
Bitcoin is like the SI unit of crypto. If bitcoin isn't performing well then other coins are not performing well and bitcoin can be performing well while other coins may not be performing well.
As a beginner, before you invest in altcoin, you have to carry out a lot of research to be sure which would be profitable to you. we've seen cases where an altcoin multiples x3 within twenty four hours but you need to know which. So since you don't know which or not sure which its best you stick to bitcoin.
yes it is, so the point is still bitcoin is the main choice, because investing in bitcoin is very safe because the risk is not high, because in altcoins the risk is very high. like so many examples of people who have suffered losses in altcoins like Luna and recently followed by the ftx destruction. this proves that bitcoin is the safest.
and honestly I speak according to my experience in bitcoin and altcoins.
Leaving sentiments asides, will you advise someone to still buy some Bitcoins (Not up to the value of 1) if they have an amount of money that will be okay to purchase the equivalent of 1 of a good altcoin with a strong community? Is having some bitcoins (in decimals) more valuable still than having the value of one good altcoin?
I don't think you have to look at the among of Bitcoin that you are holding but the value it worth. Holding altcoin equivalent to amount of 1 Bitcoin that doesn't mean you make more profitable.and it altcoins involves more risk than Bitcoin no matter how the community strong reach, and even some altcoins strong communities collapse sometimes e.g Luna, because most this community team founder took loan to invest in those altcoin. and also for security purposes I believe Bitcoin is more guided than altcoins. So i don't I have any reason to choose altcoins over Bitcoin because it is even Bitcoin that always determines the market price of altcoins once Bitcoin market priceb is dumping coins follow and also pumping you will see altcoin going up too. and for the long term investment I believe Bitcoin is in a saver side than altcoin.
If you are saying about choosing a profitable investment route rather then loss road then definitely bitcoin is the right choice for you ahead and advice will always be the same to anyone.As you have said the altcoin with great community support so you can specify about it? With the amount you can get good amount of altcoin but you will not get any return in the future so are you willing to block your amount in them? If the choice is between btc and altcoin then definitely bitcoin is the answer.
Holding altcoins is probably the riskiest thing an investor can do. If Bitcoin returned many times after the bear market and each time became stronger, then not all altcoins could repeat this. Many of them have become nothing and taken away from investors their funds, so is it worth taking these risks if there is bitcoin? The answer is obvious. Leaving sentiments asides, will you advise someone to still buy some Bitcoins (Not up to the value of 1) if they have an amount of money that will be okay to purchase the equivalent of 1 of a good altcoin with a strong community? Is having some bitcoins (in decimals) more valuable still than having the value of one good altcoin?
Of course, I will still recommend Bitcoin as the safest investment alternative, because as long as I have been in the crypto world, I have lost a lot of value in Altcoins. If you only look at it from a community perspective and other fundamentals that say "everything works and are reliable", that still doesn't prove that altcoins are completely safe.Not a few Altcoins have a very strong community but most of the Altcoins after the price falls due to FUD or other things that cause the price to fall, most are difficult to get back up, unlike Bitcoin, although it often experiences various threats of losing value, Bitcoin always grows back and even creating new ATH.
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I think cryptocurrency enthusiasts need to understand there will be no other coin like Bitcoin no matter how promising it may look. For the record, all altcoins are hype based and also highly manipulated.
No matter the great community support any altcoin had 99% of the altcoin supporter are enthusiasts of Bitcoin and this is the reason why I never agree with the statement of not keeping all eggs in one basket when we talk about cryptocurrency investment.
If there is someone who keeps his assets in one basket then it is a wrong record that he does not understand about diversifying the assets he is running.No matter the great community support any altcoin had 99% of the altcoin supporter are enthusiasts of Bitcoin and this is the reason why I never agree with the statement of not keeping all eggs in one basket when we talk about cryptocurrency investment.
And we always think the same about bitcoin that this is the only coin above the price of the rest of the altcoins that have hype that is made by the owner or the community but in reality many beginners get caught up in altcoins because of the FOMO they have heard so far, so it's not there is nothing better than Bitcoin I do not believe altcoins as a safe asset but a momentary profit and the rest will be garbage in the market.
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