Failed crypto project will promote bitcoin more - page 2.

letteredhub

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Quote from: Y3shot on May 30, 2024, 04:46:51 AM

altcoins=>tokens=>airdrop>bitcoin
At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has. When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.

At some point it's for the greater good to let them burn for it's only in that way can some people learn to really appreciate the uniqueness of bitcoin among all other cryptocurrencies. The saturation of new crypto projects all over the space with developers promoting shits and others with a rug pull premeditated plan, it therefore makes bitcoin reputation in the market noncontestible to beat. It is actually the greed of some investors and a lacking of patient that makes them go after these new projects for fast profit.

MundoCrypton

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altcoins=>tokens=>airdrop>bitcoin
At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has. When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.
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Bitcoin, being the first cryptocurrency, has gained a reputation as a "store of value" and is often seen as a safer option compared to other newer, less established projects. Bitcoin's history and robustness provide a sense of security that many altcoins cannot yet offer.

AnonBitCoiner

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Quote from: 0t3p0t on May 31, 2024, 08:39:07 AM

That is what commonly happen to I think majority of crypto enthusiasts but some just make it as a diversification of their assets which is I think a smart move as they are owning both Bitcoin and Altcoins. But most newcomers to crypto experience that thing no doubt about that. I also started with Bitcoin adopt Altcoins and then have them both though just a few amount of dollars but yeah better than nothing.

Bitcoin and altcoins are profitable but in case of altcoins we cannot trust every altcoin because most of them turn into useless coins but if your success is greater than your failure then there is not an issue because we do everything for our success.

There should be different types of investment in different coins which we can continue to make profit but sometimes people understand this thing wrongly and invest in any altcoins without doing research first.

The better step is to buy both altcoins and bitcoin in which bitcoin should remain untouched for years and sell with a target price while you can sell altcoins anytime when you have profit from it.

bettercrypto

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During the period of 2017–2018, these were the times when many crypto projects failed that could be called crypto projects, and during these times, Bitcoin was really well known, not only in a good way because of the releases of crypto projects that were not successful in the end, but also because Bitcoin was used as a front for the failures that happened to crypto projects, something that should not have happened that way.

But in the end, most of them found out that Bitcoin was only used as an instrument in this matter, and even crypto was also used as a tool for scamming. Even now, it is still happening, but it is not like that year. because many people also became aware somehow.

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Certainly after some time spent with altcoins people especially beginners will begin realise the need for them to acknowledge bitcoin as the most reliable coin for investment, most times people come into the industry through altcoins that they most have mined in any way, some through tempting rewards offered by the new hypes but history always shows that they turn to bitcoin as the remedy.

Sometimes I feel even after knowing what bitcoin can be and how it works I still like people to go and explore then when they see the result they will turn back to bitcoin because experience is the best teacher they can go and experience the pains altcoins can cause them.

kryptqnick

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Honestly, I think the days of everyone making their own crypto projects are kind of over, and the peak of popularity of this approach was in 2017. As for now, there are occasional hype waves regarding specific trends (NFTs, Ordinals, etc.), but those are temporary. I'm not sure Bitcoin is gaining strength from failures of useless altcoin projects, but I also don't think it's losing any of it, which is pretty good. While I agree that Bitcoin is a much more reliable investment, people are, of course, free to experiment with that, and unfortunately, some might feel discouraged to invest in Bitcoin after unsuccessful investments in altcoin projects.

CageMabok

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Quote from: kotajikikox on May 31, 2024, 09:53:24 AM

I wouldn’t say wrong. Cryptocurrency is not just bitcoin however it is the best. I still think people are entitled to some of their preferences. I think bitcoin is my best option among others but I wouldn’t judge someone who doesn’t invest in bitcoin.

It is their money after all and I am in no way responsible of that.

Everyone can judge Bitcoin based on what they already know through their own research into Bitcoin at this point. Although there are still some people who have not invested in Bitcoin, they may not be able to do so at this time even though they already believe in Bitcoin. I also agree with your assessment because on the other hand I also don't really care about where other people's money they want to spend it, because what is our own responsibility is what already belongs to us.

synchronym

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Quote from: Solokan on May 30, 2024, 07:30:05 AM

Bitcoin is the king of crypto and of course no one can beat it. However, yes, there are quite a few people who invest in Altcoins that are of poor quality with the aim of getting rich quickly, but those who are lucky will indeed get extraordinary profits and of course they will not give up on investing in Altcoins or others. However, those who experience losses will certainly give up on investing in Altcoins and will definitely end up investing in Bitcoin because they learn from experience and think that Bitcoin is the safest crypto.

To be honest, I was also in a situation where I experienced losses due to investing in Altcoins that were not of good quality and up to now I believe Bitcoin is still the safest but I also invested in Altcoins but only a little but still the money I use most is to buy Bitcoin most of the because I personally have tasted the sweetness of investing in bitcoin.

Yes, experience is a valuable teacher and indeed beginners sometimes experience losses when they invest because they are not investing in Bitcoin. However, experiencing bitter experiences has made some people realize that BTC is the best.

You are right I agree with you. People who are new to investing may choose alt coin instead of Bitcoin without having a good understanding of investing. But I myself would suggest to invest from alt coin to bitcoin because I myself prefer bitcoin investment. I invest in alt coin several times but unfortunately I didn't get much profit from it, due to which I almost refrained from alt coin investment. Bitcoin is an investment that changes people's fortunes but don't invest in the addiction of becoming a millionaire overnight of course if you can invest with a long term plan you can definitely get a lot of success out of this recruitment. If we invest patiently with a long-term plan in investing in Bitcoin, we will definitely get a lot of money from this investment, which will increase our interest in investing.

kotajikikox

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Quote from: Fiasem20 on May 31, 2024, 08:10:51 AM

Exactly most people in crypto space started from the wrong way.

I wouldn’t say wrong. Cryptocurrency is not just bitcoin however it is the best. I still think people are entitled to some of their preferences. I think bitcoin is my best option among others but I wouldn’t judge someone who doesn’t invest in bitcoin.

It is their money after all and I am in no way responsible of that.

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Quote from: Rruchi man on May 30, 2024, 10:15:19 AM

Quote from: KingsDen on May 30, 2024, 09:09:17 AM

What OP said would have been totally true assuming when projects fail, new ones don't emanate. If it happens so, it will mean that for each failed project, the participants will return to bitcoin until the very last project. But this is different from the reality. In reality, as many projects are failing, more are being launched and this enable people to jump from the one that has failed today to the one that will fail tomorrow and the cycle continues.

Someone who recently invested in a failed project will be so devastated that they may not want to invest again in cryptocurrency generally. Those who want to continue and really find out why they lost that investment will ask the right questions about the best cryptocurrency to invest in; bitcoins will always be mentioned, and if the person they ask has another opinion, bitcoins will still be mentioned in comparison, so they will somehow get to know about bitcoins. I believe this is what the OP is trying to express.

It is rare to see someone who just lost a lot of money to a failed crypto project in a hurry to invest again without better knowledge.

Not really, many will continue to look for new projects because they think they can regain what they lost with a more promising project but eventually they will lose all their money and then realize that it was all a scam. But many people after losing everything by investing in scam projects, they lost all will and refused to admit it was their fault, and they started considering all cryptocurrency projects as scams, including bitcoins.
The frequent failure of crypto projects will not promote bitcoin more but will instead make people consider the entire crypto market a scam. I think there will be positive and negative effects of altcoins failing for bitcoin but I think it will create more negativity for bitcoin.

Blitzboy

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This guy's right! Fly-by-night crypto projects promising the moon are everywhere, like a reality show. Its entertaining, sure. See, Bitcoin is way more perfect. It has history, infrastructure, security, and millions of global trust. These other ventures are trying to ride Bitcoin's coattails, but people recognize they were duped.

You know what? Nothing wrong with that. All part of learning. After trying dazzling new things and getting burned, many return to Bitcoin. Human nature. Yes, let other ventures come and go. It solidifies Bitcoin's crypto dominance. Bitcoin will be larger and better as the dust settles.

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Quote from: Y3shot on May 30, 2024, 04:46:51 AM

At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has.

In general, large and wise investors base Bitcoin more on other coins, but this is a very good concern, Bitcoin prioritizes superiority and excellent quality so there is no big doubt about Bitcoin, we prioritize Bitcoin over various other investments. , so far keeping Bitcoin is a very good thing.

Quote from: Y3shot on May 30, 2024, 04:46:51 AM

When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.

Most beginners like that don't realize the meaning of everything they have done, and maybe every beginner has a different reason for new things to try, and of course they have to study this well, because this is the place where they know about crypto and the outside world that tends to take them in a better direction, we have noticed some of them continue to study Bitcoin and what actions they should take.

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Knowing crypto I increasingly acknowledge the fact that I end up coming back to bitcoin more, but I also acknowledge the opportunity with altcoins is great in the space. Maybe it's because the size of each person's assets will be different that leads them to risky/safe choices, but at some point most achievements need to prioritize safety more so the shift and trust in bitcoin is inevitable.

I have gone through periods of ICO trends, which can be said to be times when I traded off between choosing risk and seeking more profit. But after being exposed to that, I was startled and laughed. It helped me see my own stupidity when I was blindly led by greed. Anyway, I see the importance of bitcoin in the portfolio, literally no need to do anything complicated but just watch things happen.

Awaklara

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Quote from: Y3shot on May 30, 2024, 04:46:51 AM

altcoins=>tokens=>airdrop>bitcoin
At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has. When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.

Maybe because you are a beginner, choosing the wrong path is normal. the experience gained will probably make them finally realize that Bitcoin is the best asset they should have. not altcoins and a lot of trash tokens that waste their time.
On the other hand, we also have to realize that the existence of altcoins makes the market more attractive. some get losses but some get profits from there. and those who are smart will shift profits to Bitcoin.
everything is a process of learning and understanding. Altcoins will continue to exist and multiply. but Bitcoin will still be the best.

0t3p0t

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Quote from: GreatArkansas on May 30, 2024, 04:56:01 AM

This makes sense!
I can relate to this also because I remember before I was really lured to altcoins. Even I started with Bitcoin, like some of my Bitcoins before were converted to altcoins and I lost so much, after that I learned the lesson and started to hold and focus more on Bitcoin instead of altcoins.

That is what commonly happen to I think majority of crypto enthusiasts but some just make it as a diversification of their assets which is I think a smart move as they are owning both Bitcoin and Altcoins. But most newcomers to crypto experience that thing no doubt about that. I also started with Bitcoin adopt Altcoins and then have them both though just a few amount of dollars but yeah better than nothing.

Fiasem20

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Exactly most people in crypto space started from the wrong way.Just like airdrops have gained popularity around the globe and lot of persons are into airdrop,and when the token dump they'll return to the coins with high potential Bitcoin to be precise.Indeed failed crypto projects have promoted Bitcoin, people may want to learn things the hard way, they're some people that heard of Bitcoin but chose to invest on airdrops and memecoins after being scammed they pull themselves from that circle and invest in Bitcoin which happens to be the pioneer of all the coin in the crypto space.

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Quote from: CODE200 on May 31, 2024, 02:59:17 AM

Quote from: jrrsparkles on May 30, 2024, 03:16:42 PM

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

Sometimes that's the only way for these people to get into bitcoin, they don't have the proper mentorship or they didn't have any proper guidance when they got into crypto investing and so they just jumped right in and this is what they got, they end up losing and although I can agree that some of them do end up investing in bitcoin at some point, there are a larger portion that would have a hard time trusting any other cryptocurrency because they don't want to lose anymore money than they already had with the last one that they got rug pulled. That's my sentiment too with altcoins, I feel like it's a matter of doing your own research and making sure that you're not investing only what you can afford to lose.

I know a lot of people know NFT first or airdrops before they know bitcoin and its not surprising at all to see that since those altcoins are well shared into different community compare to bitcoin and later on they only realize that the top coin in the market exist especially if the price of this coin pump up already. Although we can't expect those new people to participate on any bitcoin activities. But at least they know that there is more better coin exist and once they are done with those rug pulled scheme you mentioned and other scams then they can go after with bitcoin and try their luck for trading it or either for long term holder to see if they can make more better results there. Sometimes I didn't have any guts to hold alts since what I commonly do with it is to dump immediately because same as you its hard to trust them knowing their reputation is always questionable.

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Quote from: jrrsparkles on May 30, 2024, 03:16:42 PM

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

Sometimes that's the only way for these people to get into bitcoin, they don't have the proper mentorship or they didn't have any proper guidance when they got into crypto investing and so they just jumped right in and this is what they got, they end up losing and although I can agree that some of them do end up investing in bitcoin at some point, there are a larger portion that would have a hard time trusting any other cryptocurrency because they don't want to lose anymore money than they already had with the last one that they got rug pulled. That's my sentiment too with altcoins, I feel like it's a matter of doing your own research and making sure that you're not investing only what you can afford to lose.

peter0425

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As rare as it is, I have actually encountered some people back then that do not invest in bitcoin at all. They say that they prefer altcoins more. It surprised me of course as I didn’t think anyone invested in crypto but not in bitcoin. Personally I have no problems with investing in altcoins as long as there’s also some percentage allocated for bitcoin. I think it’s just the smart choice.

These people who invested in altcoins only reason that bitcoin is too expensive and they can get profit anyway from altcoins.

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Quote from: jrrsparkles on May 30, 2024, 03:16:42 PM

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

This is true. Many people or investors in the crypto currency world despise altcoins because they say that they tend to become scams or rugged pulled, which is somehow true, but let's note that not all altcoins are like that. For me and for my experience, there are a lot of altcoins that are profitable and legit. It's just up to the investor to do their research and be cautious so that they could avoid the scam or most likely to fall down altcoins. Those shitcoins are, I think, the most useless coins. We all know that shitcoins are built mainly for memes, and they have a higher or major percentage of scams or rug pulls. In conclusion, if you want to maximise the profit, then don't stay in one crypto currency only. Because there are many currencies that are profitable and also have a bright future ahead, you just have to look for them by doing research.

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