No matter how someone tries to sugar coat a talk about altcoins or trying to place them as a potential investable asset, it's bullshit cause they all fall under the same unpredictability and has a lot of risk associated with them and remains a shitcoins, everything that is not bitcoin should be kept off this thread cause we not into such discussions here and our main goal and focus in on how to better our bitcoin accumulation journey and hold bitcoin.
That's right! BUT SOMETIMES, especially if you've spend years watching/researching/learning about these different Ponzis and "narratives" in the cryptocurrency world, there will definitely be " opportunities" to make money in shitcoinery. Personally, during this cycle I would prefer to do my shitcoinery that's denominated in Bitcoin natively, and there's a new narrative being pushed after experiencing the potential of Ordinals. That narrative is Bitcoin Defi. It will potentially unlock more Bitcoin capital ithan what Ethereum currently has in its network right now.
This was the same analysis I did that landed me into Pumapay, the worst mistake made as an investor. Everything was perfect with that project and they even raised over $5 million in their ICO, but at the end the worthless garbage failed woefully. Many people have their terrible experienced from shitcoins, with many of them vowing over to invest in any digital currency ever again.
You might be right that some people might be lucky to quickly sell alongside the founders when they have the opportunity but this is purely gambling and can never be qualified as an investment. I still wonder what could be the essence of taking the risk of investing in shitcoins when there is Bitcoin. Bitcoin is just fine as it has all it takes to generate profits and give the investor the calmness and peace needed to hold for a long time.
You know @windfury your are trying to make I seem as tho there is an opportunity in the shitcoin business which I don't believe, yeah we can watch and watch and do all the research, but we can't change the fact that it's a gamble and you can't tell which is going to turn out well or not, so to be safe we just invest in bitcoin and hold with more confidence than literally throwing your money away.
I won't deny some persons have made money from shitcoinery but its still not advisable to tell people to go down that path for any reason.
1. They might be looking for good asset to.invest in and you are leading them to shitcoins which are unpredictable.
2. Shitcoins has a high tendencies to turn out as scam because they give too much control to their creators or devs behind them.
3. They are mostly ponzi schemes and no real mind behind them. They solve no problem in the world and are just built for mere money making sake.
Considering this and many other factors would you still advise anyone to go into shitcoins even if we know that doing research can help to figure out a good one, but it doesn't remove the fact that it's a risky shity thign to do with your money.
Yea, we know that bitcoin was valueless when it was created but due to its purpose of creation, which was design to end the intermidiation of a middle man in transaction using p2p due to its decentralized nature give it more potentials not to be a shitcoin. You don't also understand why it is call shitcoin. Those shot coins were developed for selfish interest, and to make money by the dev, and not to solve any problem. Bitcoin was created to solve major problems like privacy, having freedom over your funds by being your own bank. Many coins after bitcoin have crashed and we will still see many more that will crash. So it is not about that they are new and will also have strong back ground like bitcoin. The question is that, what problem do they solve that will make people need a high demand of shitcoins. They are just same thing like gambling, because the dev pump the price and when people invest with huge amount and when they see the profit, they rug pull you. Have you asked yourself what is so special about bitcoin, and why is it that those shitcoins cannot survive on their own but always allow bitcoin to control them.
Those shitcoins are duplicate of bitcoin, and that is why they are not real and will not survive the market for long because the dev is a copy cat. Ever since history of cryptocurrency, it has been confirmed that only bitcoin can be trusted, because the network is an open source in which anyone can contribute to the security and growth of the network, but those shitcoins that came out after bitcoin made lot of investors to lose their money, and they never gained value but instead they crashed. Are you not seeing the high level of inflation that is making fiat to depreciates, but bitcoin price keeps increasing overtime, showing that it is an edge to inflation. Only the decentralized nature of bitcoin is enough to make it the superior to altcoins. Anything centralized is prone to manipulation, because human beings are greedy. Wake up mate, and learn more on bitcoin, because it has being existing and the rate of adoption is increasing, and so with the value to sure that it has come to stay as a good investment. Just the way that you cannot compare gold to any metal, that is how you should never compare bitcoin to shitcoins.
In general I'll say anything that isn't bitcoin is a shitcoin cause they are all the same lies that fail to meet the standards of bitcoin, neither can they be trusted. Bitcoin is ran by an open source community and no one is in control of anything, but many other shitcoins have insiders that can make decisions that can affect the price, how many times should we even say that shitcoins are bullshit and no one should bother going there, except at your own risk.