Topic: Complexity of AltCoins to bitcoin. (Read 159 times)

Altcoins are heavily influenced by the BTC momevents - the smaller the coin, the bigger wave the change in BTC it should bring to it. Patience is key, especially on the coins that don't make profits in just a moment, and then take that profit because it was all rigged from the start. You need to learn how to research any project or coin on the market to see if it's viable and worth the risk to invest your time and money into it. Only then, you will thrive. Always DYOR.

There is no doubt that Bitcoin leads the market as a safe haven. However, the cryptocurrencies in the top 100 often follow a correlated path with Bitcoin. They can also make good money for their investors at the right time. However, I would like to say that I absolutely agree with the main idea of the topic. When it comes to investing in altcoins, we need to do solid research, and we also need to do proper portfolio management...

Proper research... Right. And meanwhile newbies are making money by aping into some nfts and memecoins.

And sure, it doesn't hurt to do research, and if someone doesn't understand the tech, safest choice probably is the bitcoin, but not seeing that as "complex".

Do you know how long people needed to educate public about bitcoin? And after all these years, i don't think majority still even understands how it works. Disbelief, misinformation and doubts have just changed to the the mindset where people have just accepted that it is working (for now). And even in your own text, you don't talk about BTC price being volatile, but "bitcoin blockchain" being one.

There aren't really any simple way to compare differebt coins or tokens, but if you know you don't understand them, you might as well trust your luck or go where the rest of investors are going, but they are all complex protocols in their own way.

Every investor has their own financial strategy and risk management, I'm sure they have a choice about that.
Why are many people interested in altcoins because of quick profits do not need to wait for years, but they will not realize when altcoins go down it will be difficult to recover, in contrast to bitcoin back to the bottom price in the end the price of bitcoin is always ATH in every cycle but for altcoins not all will be ATH.

Apart from risks, he is also talkin about the complexity of an altcoin. Whatever altcoin it is, all of them is still the same. They are a currency and if they are not a stable coin, they can also be used as an asset for investment. There is nothing complex when it comes to these things. The only thing that we must do, is to learn the basics like how to operate a crypto wallet and a crypto exchange. There is no need to dive in the technical side of a coin, IMO.

What about the coins before the 5th rank? I think there are no major differences at them and they can as well follow what BTC are doing sometimes.

BTC is BTC. It is unique. If we want to know how it feels to HODL a BTC, then we need to go straight into it.

You are right, but when you have greed tied with arrogance, it becomes almost impossible to convince newbies that they need to take their time when it comes to investing in altcoins, so they invest in those coins thinking that they know better than us and that this is the way they will achieve their financial goals, and when they fail to do this then they begin to complain about how this market is full of scammers, and while that may be true, they could have avoided the majority of them by simply investing in bitcoin.

The general characteristic of every cryptocurrency is volatility, and Bitcoin is not exceptional. Bitcoin can be volatile as much as any other altcoin, but the difference between Bitcoin and so many other altcoins is that even if the price of Bitcoin drops so badly, it will definitely surge high again. But there are so many altcoins that only pumped during the bull market but never survived the bear market. There are so many altcoin projects that have been abandoned by the project owners because they cannot promote the project further in order to make the price surge again. 

Well, I agree with you that newbies should start off their crypto journey first with Bitcoin and can later extend to altcoin after they have gathered a lot of knowledge about cryptocurrencies and investment. Another way a newbie can start with both Bitcoin and altcoin is if they have a mentor who is very knowledgeable about cryptocurrency investment. 

It depends heavily on what altcoin we are talking about though if it's a new project altcoin then sure enough they carried a lot more risk, the market still in price discovery therefore the price will be multiple folds more volatile compared to bitcoin but if it's just major altcoins ranked 5 and beyond, it's mostly following bitcoin pattern.



a brief glance towards chart above exactly reflect that ETH is quite similar in the chart movement compared to BTC, so really as lohng as we don't venture around investing in some shitcoin and instead stick with the best of the best 5 coins out there, we more or less gonna get the same result as holding BTC.

Depends on your strategy and risk/money management!

Alts have more upside, but if you have a big deposit, it is much safer to buy BTC and ETH!

Just to make things clear — the thing that's highly volatile is their market price/valuations, not the blockchains. The "blockchains" are just databases, a sort of technical specification of these projects.

Also, buying altcoins is barely "diversification". If you want to diversify, you buy assets in other asset classes like stocks, precious metals, real estate, etc.

With Bitcoin like you said you can just buy & hold for many years without worrying too much abut price fluctuations. Bitcoin is a sound investment, you’re not going to get rug pulled as it’s decentralised. Altcoins you can maybe hit a bigger ROI but you need to be researching all the time, keeping in the loop. Many Altcoins aren’t long term holds either. Just dyor & diversify.

I don't know how weird it may feel with this my thoughts that AltCoins are good for investments but though only feasible if Investors could make proper researches before adopting their choices and not just accepting anyone because of Speculations in the air with the coins being overhyped.
Believably, there had been lot of inexperienced or beginner investors to be precised who expresses motions to be suggested on what AltCoin is good and better for them to hold as a fact that the know nothing about cryptocurrencies yet.
Forgive my instincts if I sounds discouraging but I think such investors should had tied their beginners stage on bitcoin and then grow out the crypto knowledges from there and then diversify to AltCoins reason being that bitcoin Blockchain isn't so highily volatile as the AltCoins Blockchains.
In bitcoin investment, you just need to buy and hold on timely or untimely your asset would always be at that potential vessel to produce profits in matter of time in a protected and reliable Blockchain while AltCoins requires an extensive knowledge to study the logics and potentials of the coins and then also, investors would be expected to prepare their minds to condone with the nature of the market which at times investors makes wrong choice in investing on shitcoins that gets dumped or total lost of values. Also, scammers tends to hunt more in the developing fraudulent coins which at its ends making away with investors funds.
So in all, investors could build their emotions and stay uncontaminated either the market sentiments while holding on bitcoin and then, newbies like that could grow their intentions gradually on the non complex Blockchain on bitcoin while thriving to explore in diverse of to AltCoins which has more complexity.