Topic: I need clarifications on this please. (Read 412 times)

BTC has the largest most secured blockchain, thats why its number one and reasonable to presume it always will be.   I'm not against innovation personally, I think its fair for many things to exist and probably also healthy (competitively) however the other blockchains are all a copy one way or another of Bitcoin.  Thats why some people say only use Bitcoin, I argue 90/10 is ok & never say never but its also true the best or most simple advice is just stick to the original.

Also alt coin talk is a different part of the forum, this is BTC and discussion under that presumption.  Since we're comparing its probably fair but you may get more variety of answers in a different part of the forum.  Monetary value is largely related to the security question, on a market capitalization basis not the speculative growth but as a mass valuation you can expect the largest values to occur for the most secured protocol.  I think thats provable fair to say and also it relates roughly to how currencies have been for hundreds of years, if people fear for secure continuation of that national currency it's traded down in price and is less wanted etc.

Litecoin is superior in any regards to Bitcoin.
Read the whitepaper and you can see that Litecoin does what the whitepaper claims bitcoin should be.
A true P2P network with speed, low fee and with an uptime of 100%

I think that's an important part, a lot of people forget that there are so many people who made so much money from crypto, all by just holding it. It doesn't even need to be bitcoin, I have seen people get rich from so many different coins that got into top 20 coins list in coinmarketcap list, they just bought a bunch and held it. Most recent was shiba, I hate that token and I think it's a useless one, but a lot of people invested a few thousand dollars and made millions from that as well.

I think it's clear that we are going to end up with some mistakes if we are not careful and I believe that the results are not that much important, we need to just focus on trying to hold long term and if we can do that then the return will be better. I personally believe that the best thing we can do in this case would be just making sure that we deal with something that we can hold, if we can hold then the rest should be easier to deal with and could make some money.

OP you mentioned double JG and you wonder how he get to post so much on topics or ideas or advise on the matter at hand, well I believe you can do that too, just continue following his foot steps but that only means you're not being yourself. He's a guy that have so many words and ideas crawling in his head so he had to let them all out, that's why they're all much in his post. Double JG is a guy that have ideas on Bitcoin since 2017 (if I'm not mistaken) and he has past through the ups and downs of Bitcoin, I also believe he has also observed other coins and that's made him choose Bitcoin not that other coins are not useful, that's the one he saw as the best and many members here would agree with me that Bitcoin is the best.
Some other people also invest on other coin but OP double JG talks more about Bitcoin because that's what he thinks is the best with his experience, is just what he prefers and he has already seen the productivity in Bitcoin compared to other coins, the man deserves a medal and he also has words that lashes his students that learn from him, doesn't have any best student to start with (that's if you call him a teacher 😂).

If you are a holder (big holder) of Bitcoin and you already made a big profit in the past, you don't needs to search for other coins. Bitcoin is more than enough for you to gets that big profit. Altcoin can be another investment but you must have skills to determine and analyzes which altcoin will increase.

That will not easy as you need to scan so many altcoins in the market but you can sticks to the top altcoins to find out. Besides that, you don't know if that altcoin can survives in a long term while Bitcoin can do that and will be more popular in the future. Altcoin lists will always change from time to time but Bitcoin will remain on its position.

I also invests in altcoin but that can not be a long term investment. I just hold altcoin and sells it when the price increase to the highest price. But not many altcoins I had can make a profit because we knows that the altcoin list will always change.

If you hear Bitcoin maximalist you probably won't have much to say about him. For them Altcoin is just a scam and just a pyramid scheme in the market, they also call altcoin as shitcoin because bitcoin is the most important and the most valuable for them, and there is nothing else but bitcoin, and there is nothing wrong with that.

This goes back to your way of thinking, how you view an asset, and I don't think you need to pressure those who have their own obesession in seeing their world, just understand and learn how they see it as a diamond to have in their life.

Exactly. Posting this publicly is like you are asking for the community to answer your concern when you are only trying to question JayJuanGee. But since it’s here already, let me also say my own point of view.

Bitcoin is the king of crypto, and altcoins are only made out from the image of crypto. So if you are a wise investor, you will not risk putting up your funds in some random coins when you have all the chance to stick to bitcoin. JayJuanGee is just being honest to his views and opinions probably because of his wide experience in the market. But of course, the choice is still ours at the end of the day. JayJuanGee is just giving us hints.

Oh i also see his writing informative and useful, even though Bitcoin is often left in the dark due to being first on the scene with a large market share. Other cryptocurrencies have their properties and ways of making their value special. Such is Ethereum, which is famous for its smart contract capability, thereby enabling programmed transactions. This is something that Bitcoin does not natively support. Besides, other cryptocurrencies like Binance Coin (BNB), Cardano (ADA), and Solana (SOL) also have their specific and promising applications. These projects are designed to fulfill certain needs or improve existing technology in some respect. Thus, it is not totally useless. There might be a lot of insights to get and investment opportunities by studying and understanding these options.



That's quite exciting to know how early adopters in your country did so well with Bitcoin. One could see quite clearly the wealth creation potential of Bitcoin, especially for early movers who recognize its potential early. Growing interest and acceptance of the new cryptocurrencies by youngsters would certainly spur demand and could definitely drive the market accordingly to change and meet your friends' expectations of reaching 100,000 dollars.

Although Bitcoin is still the strongest, most powerful cryptocurrency, the rest of the cryptocurrencies are considered but worth thinking about. Because, as you have mentioned, BNB and USDT are just two examples of assets which count differently. For example, BNB is a cryptocurrency used within the Binance ecosystem, and it is doing great. While USDT, also called Tether, represents stability since it's a stablecoin. This could be helpful for your risk management purposes.

Diversification among different cryptocurrencies brings different opportunities. Knowledge of the evolution of these forms of currency is an important aspect that will drive decision-making over investments. It is an exciting space within the crypto area, and the more an individual is informed about existing and emerging cryptocurrencies, the more advantage they are bound to get. Thank you again for sharing your thoughts and ideas!

Bitcoin is powerful cryptocurrency and many will be millionaires and billionaires from that . Here are many people in my country who have Bitcoin and and they bought that Bitcoin 7 years ago when Bitcoin price was very low and now they are billionaires. My friend also have Bitcoin and he also expected that Bitcoin price will go upto 100k dollars because youth is taking interest in cryptocurrency and when more people will take interest in cryptocurrency,then cryptocurrency demand will be increase and we will see a huge pump in the market. Like Bitcoin,here are many cryptocurrencies which are very profitable and that will give multiple returns in future,BNB and USDT are safe cryptocurrencies.

You will see from this forum many people who love bitcoin and are bitcoin traders who are not only big holders and investors of bitcoin but also advise others to buy bitcoin because they have bought bitcoin. They have benefited from Bitcoin themselves so they want others to benefit from Bitcoin and some people are strongly against Bitcoin.

Many people say that BTC is a scam and many more negatives. Also, some people trade alternative coins more and some people trade meme coins, and you will see all kinds of people on this form.

I think people who say to only trade in Bitcoin mostly don't want to put themselves or others at risk, so they mostly trade in Bitcoin because there is little or no chance of losses in Bitcoin. Bitcoin may stop or fall too much but it recovers over time, so they choose the safe way.

There are also many alternative coins in the rest of the market that you can trade and profit from, such as ETH, BNB, SOL, GALA, GNO, and many more projects that you can invest in. But it will be your own choice. Every trader trades according to his choice and his own education which he can trust more with whom he trades. Stay connected with this forum you will learn a lot about trading and coins, but the final decision should always be your own.

Making profit from some shitcoins doesn't change the other bold part above (altcoins are inferior to bitcoin). And that's just a fact, not something some people believe in.

Besides, the term "Bitcoin Maximalist" was invented a couple of years ago by altcoin creators who wanted to get their useless coins pumped but couldn't just because everyone was comparing it with Bitcoin and that helped them see the fundamental flaws in those shitcoins (specifically ethereum). People kept criticizing their coin and the altcoin creators had no logical response so they invented this term to shut them up instead.

So for example when someone said "ethereum is a centralized shitcoin with a mutable blockchain and a flawed protocol" they just called that person a "Bitcoin Maximalist" to shut them up instead of responding to the points that were raised.

So there are Bitcoin maximalists around, I met many... and I respect their beliefs. But I think it's a fact that there are other good/great projects and many people earned a lot of money on Ethereum, Litecoin, BNB, and many others... I like other coins/tokens, I use some of them, so I guess I can say I am not a Bitcoin maximalist.

The world is big, I think there is a lot of room for other coins... there are useless cryptocurrencies and bad projects, but some are pretty cool. You should check some of them, try them... and if you like the project and the story behind support it by buying & using their coin.

The reason why people will advise you to only buy bitcoin is that bitcoin is more legit and trusted than the other cryptocurrencies, although they are all cryptocurrencies because you can also buy them but no one will want you to buy something that you will later regret, if you bought a coin and at the end, you hear that the coin is not good coin that you might even think that like 3 years you won't hear anything good about it what will be your reaction? buying another coin that is not bitcoin is a very risky investment because in the end you won't like the outcome of it.

Although some coins are very good investing in Bitcoin will give having rest of mind, immediately after you buy a Bitcoin the only thing you will do is find a good wallet and save without no thinking about whether the coin is going to bring a profit or not, we all know that bitcoin is very legit even if we day it is also risky some times, in this forum as a newbie no one will advise you to buy any cryptocurrency that is not bitcoin because they don't want to face a challenge that will lead you to never trust anything cryptocurrency again.

Bitcoin has been the most trusted coin since it was invented, and bitcoin is decentralized in mature. Many scams has been done in the name of crypto currencies and altcoins and people who are ignorant about this often attributes them to bitcoin. By venturing into other alt coins you stand a chance of losing your money through rug pulls, and scams. The creator of such alt coins could have their own reasons of creating them and they might wake up one morning and decides that they are shutting down. But such a thing can't happen in bitcoin. In bitcoin investors funds are much more safer than alt coins, because there were altcoins that we knew back then but today they are nowhere to be found.

 Many alt coins don't usually survive the bearish market, once there is a big bearish market that tends to last longer than expected, some alt coins dies off, while those that survives, majority of them finds it  difficult to get back to it's previous ATH, leaving those that invested in them to bear an everlasting loss. But in bitcoin we have seen several times that after the bearish market, no matter how long the market is in the downtrend, when the market recovers, bitcoin always goes back up. Even those that bought at the ATH, are assured that if they continue holding, that bitcoin will surpass the price they bought. So @JayJuanGee is only concerned about the safety of your investment, that's why he is always advocating for bitcoin investment only. Because there are limited chances of things going wrong with only bitcoin investment.

Some altcoins are not really useless but some are completely useless because they don't have any real world usercase, most of the shitcoins out their were just created to steal investors funds and nothing more, it's not created to add any value to the crypto space. JJG, is a maximalist and he only preaches only about Bitcoin which is the only coin he believes in. If you have ideas about altcoins and the risk attached, no body will ask you not to invest.

This is more of a personal message for him, but since you've opened up those questions, I think everyone can be involved in this, bitcoin maximalists and the alt maxis. First of all, we all have references for what works for us as an investor. If going Bitcoin 100% works for him and that's assuring him until his retirement or he's already on it, with or without any explanation, he's under no obligation to answer that. The majority of us here hold a portion of Bitcoin in each of our portfolios. The same goes for someone saying that Bitcoin is expensive for them and they cannot invest in it, so they'll find a shelter through cheaper altcoins that haven't pumped yet. There is nothing wrong with being in either part but it's proven that holding bitcoin even if you put that only in one basket will no doubt give you a better state in this market. And to give a reminder, most alts are highly volatile and yes more volatile than bitcoin.

There is nothing wrong if someone chose to invest in bitcoin other than some altcoins or shitcoin. In this world of blockchain technology there is individual differences and choice of investment. Aside that I think bitcoin is the most important/valuable digital asset to invest when you think of investment. Although not that other coin aside bitcoin are not important but I want you to know that bitcoin has special features that makes it to be different from other altcoins and shitcoin.
1) bitcoin market cap is higher than any other shitcoin, meaning that bitcoin has more investors than any other coin.
2) bitcoin is limited in supply and the demand keep going higher and the more the demand become high the more it increases in due time.
3) bitcoin is the only coin that experience halving evey 4years.
4) bitcoin is the first coin to have existed and that has made it popular and dragged alot of investors.

This little feature I have listed are things that makes it popular and make alot of people motivated to invest on it than shitcoin. Aside that no body in his right senses will leave to invest in a reasonable coin like bitcoin to invest in some sort of shitcoin. It will definitely pump and dunk your ass.

Do you read only posts of JayJuanGee? He is a good poster with vast knowledge about Bitcoin, but he is not the only reputable member of this forum. There are so many good posters that you can learn from. If you had been reading other people's posts, you wouldn't have been confused. I am also a student of Jay, but you should always do your own research. Let me refer you to this post 'Say no to maximalism' by BlackHatCoiner, you will have good answers to your question if you read some good responses.   

Everyone knows he is a bitcoin maximalist, he only care about bitcoin and ignore the rest of the market. I don't see anything too confusing and worth creating a separate topic about this. If you spend more time on the forum you will realize that we have a lot of bitcoin maximalists here, not just JayJuanGee and this also makes the forum unique.

Investing in altcoins is very risky and is no different from gambling, which is why many people don't like altcoins. But whether to invest in bitcoin or altcoin will depend on each person, because each person will have different preferences. We should invest based on our own abilities and interests, don't imitate others because sometimes what suits them may not be suitable for us. Always DYOR before investing.

I'm not against him, he's someone I admire a lot, infact I go through his posts everytime I come online and I must say that I've got good informations from the advice he dishes out to people but I'm just curious cause he mostly talks about Bitcoin and i asked those questions for clarifications so I could retrace my steps incase I'm making a mistake cause I've been thinking of adding some other cryptocurrencies I feel are good to my portfolio.
 Well I should've directed the question to the general public here regardless of whether I mentioned his name, they said learning is constant here and we should ask questions when we want to know, therefore am willing to learn from him and I've learnt something important from you too, we learn everyday. 🙂

If you want to ask a forum member about something, send him a DM. This is a forum, not a social media platform, so the "mention a user via the @ symbol" feature doesn't exist.
The other cryptocurrencies(the popular altcoins) aren't completely useless, they are serving the same purpose as Bitcoin, but they aren't better than Bitcoin. The shitcoins and shit-tokens are completely useless. Their only purpose is to be used by their developers to steal money from the investors via pump and dump schemes.
The altcoin prices are simply following the BTC price, but their market volatility can be higher than Bitcoin's volatility. This increases the level of risk, but it can also increase the potential profits.

Everyone has their own way of posting mostly they contribute most to the area they find interest at so it is to other posters, if you look at the technical board such as wallet discussion and more you would find people that contributes most in that area, people like charles-Tim, hosseinimr93 and many more that contribute much in those areas.

About development you can see PowerGlove active over there and he puts more efforts to program things to help the forum. When talks about Data analysis you would see loyceV and few other people, they puts more efforts in that area monitoring the movement of every post, merits, and other activities. When they talks you would see they are professional in that area..

If you talks about investigation then we have lovesmayfamilis and some other people active over that section and they does it in a professional way

If you check almost everyone profiles you would find the area they are personally good at, no doubt that JJG is one of the respected poster over here due to his vast knowledge in bitcoin and I have joined in his discussion and it was great for me, but most times i find it hard reading his lengthy text.

However, if you must know there are other currencies good for investment but most times people put interest in bitcoin because it's more understandable due to some historical data and it could be easily understood than other coin. No doubt that we have other currencies such as Ethereum, BNB, Matic and some few of them, but to say it's very hard to be predicted or speculates because they are highly volatile even more than bitcoin.

Then if you talks about quick investment, other coin such as memecoin are mostly referred as shitcoin and none would be ready to invest their hand earned money in such and woke the next day to see their investment turned zero dollars which they won't be happy either. So it's  understandable to put your money in place where you would have a cool sleeping moment than just keep pondering over your investment safe or not.

So he doesn't like putting that impression into other coin and can't give people advice to invest. Again, if  you had been around here for years and witnessed the incident in most of the altcoin known as shitcoin you would learn to put your investment into bitcoin except you had just accepted to waste your resource without even thinking about he it goes.

Yea, for your first question, in my own opinion, I would say yes, their are other good crypto asset aside Bitcoin, but due to how shitty most of this alt and meme coin has become, it's now what most of these developers used in milking most investors of their hard earned money, so it's because of that, it's much more better to focus more of your resources on Bitcoin that you are very much sure that will be worth it in the future.
Secondly, in the world of cryptocurrency, their is no substitute to Bitcoin, no other crypto asset gives you security and that guarantee to always rally back to a better height if their is a dip in the market, unlike alt and shit coin that falls more than they rise.

Then talking about your last question, no bro, all other cryptocurrency aren't useless, some are just created for gambling purpose, and that is what most people have failed to understand, that it's why most people makes money out of it and majority loses money when invested in it, so using the word useless is actually not appropriate,  because even a bad egg can be useful, it can be used as a bad example to someone that is being advice to take the right path.

Simply, invest according to your understanding, you should not invest based on anyone's advice, including the advice of experts.
I think you can research bitcoin and admit that it is the most reliable and investable digital currency. I also believe that you will find the answer to altcoin when you take the time to research without having to ask anyone.

Don't feel bad if other people have different investment views than you, because everyone has different views and mindsets about everything in life and investing is no exception.

Life is ours and we should take responsibility for it instead of caring about what others say, because even if you do what they say, they don't guarantee you anything.

this question is supposed to go straight to his DM since you're interested in getting his personal opinion on why he has remained totally interested in Bitcoin and not in any other asset. but as someone that has engaged in discussion where he's shared his insight on why it's best to invest only in Bitcoin and not diversify even into another coin, i feel I can share some insights in this matter. Firstly, Bitcoin is the first decentralized currency that have been in existence way longer than all the other altcoins that has ever existed. As a matter of fact, those altcoin even gained relevant because of Bitcoin and when you're looking from the angle of what has given holders a good amount of returns most expecially for the early investors, Bitcoin stands tall as the most reliable crypto.

In most of his post and suggestions, he's stood firm that it's not even appropriate for Bitcoin to be referred to as one of the cryptocurrency and if you look at it, he also has a point because some newbies have mistaken Bitcoin, altcoin and even meme coin to be of the same quality which has led some to HODL some shit coin with the hope that it will give similar returns like Bitcoin but end up loosing thier investment. Others have also lost interest in all crypto because of the experience they had with one they held that didn't give them the expected returns. Though Bitcoin is volatile just like all crypto, the level of consistency it has witnessed at several instances when it experienced some level of correction and still came back strong with time makes it the best digital asset to consider while making an investment plan. It's not like some altcoins don't do well at all and can't do well at all in the future, they certainly can but it's for now almost impossible to see one that has the potential of outperforming Bitcoin or even coming close to it in all area of consideration which stands Bitcoin out from every other digital asset.

There is no second best.

Everybody has the freedom to invest in any coin they want and don't owe any explanation to anybody. @JayJuanGee prefers to invest in Bitcoin and doesn't want to go into the complex and highly uncertain world of altcoins. It doesn't mean that altcoins are useless, but Bitcoin is his choice, and he can afford to buy Bitcoin.

There are some benefits of using altcoins for the transactions; it is cheaper, and for others, Monero might be more private. And I am sure some core Bitcoin investors also take advantage of these benefits.

Not everyone has time to monitor the hyperdynamic altcoins market, so investing in Bitcoin will be their preference. Some people don't have time to research the viability of altcoins, so they save themselves the stress by investing in a more stable and reliable cryptocurrency.

Why you post this on the public instead of send this on private message? I see that you ask the question to him instead of the community.

It's correct there are no good cryptocurrency for investment except Bitcoin, because most people make money using other coins by trading instead of invest. Invest requite a long time process, not something you wait only for few days, weeks or months.

Most altcoins are useless, they were created to enrich the creators. But there are other good altcoins like Monero, Litecoin, Doge, DAI etc.

What I understand here is that some people are earlier adopters of Bitcoin, some might have bought a huge amount of it when the price was still ridiculously low. Such people are very rich now, they advocate for what has blessed them as faithful and are also satisfied with their current crypto assets in terms of the value they own. Tell me, why go for altcoins again?

Besides, the section to discuss altcoins is different from the main sections of the forum to discuss Bitcoin and I don't think JayJuanGee is interested in that section as Bitcoin faithful. And to many people that Bitcoin has blessed, it is only Bitcoin and outside crypto businesses and investments. These guys are already made, so they don't need altcoins that they widely considered as shitcoin/imitation.

The biggest real use case of altcoins is to help their founders and developers getting rich. While, in contrast, investors or traders who engaged their capital with altcoins, will mainly have loss or bankrupted with scam altcoins.

How many altcoins are there?
A lot, in thousands and the number of hidden altcoins that were created and disappeared within hours, days are more than that.

How many cryptocurrencies (altcoins) failed?
Even they don't die, have yet died, their investors died. Like how many people invested money in Terra Luna, UST stable coin, FTT token can survive if they used all money for investment in these altcoins.

How many Bitcoin forks are there?
Perhaps they did not update these figures because I believe more Bitcoin forks died recent years than only 31 forks.

What do you think yourself? Do you think there is any use cases for the altcoins in the real world?

For example these days they keep creating new tokes every day. Do you know any use cases for any of the in the real world?
Obviously not. They are only created so that people can "gamble". Basically people who buy these useless tokens are making a bet on their future price that it can get pumped so they can make a profit.

Look at the life-span of 70% of the cryptocurrencies that are created. It is very short. Some of them die in matter of days, some can survive longer. That is because they are useless.
Some of the create artificial use case based on the market. Like ethereum. The only use case it has is to allow people to create more useless tokens! It has no real world utility.

Now, are they good investments? That is a different question. They are definitely not solid investments. As I said you'd be gambling on their price. But they can be profitable, there is no denying that. So if you are OK with taking high risks like that, then it can be a "good investment". Although it is wiser to just stick to Bitcoin that has true potential because of its real utility as a payment system that is used in the real world.

Rich people prefer to invest their money on less volatile asset because they are less risky. Altcoins are more volatile while some can lead to huge loss of money or total loss of money. Altcoins moves in bitcoin price direction which can also be a discouragement for some people as they know that bitcoin is like the king among cryptocurrencies. Most altcoins are not getting to their all-time high which is another disadvantage.

The person you mentioned is someone who is so much into bitcoin; he is a holder and has studied how it works and talks out of experience. It's not that there are no other good cryptocurrencies out there, but if you are to give advice to anyone concerning any currency, your advice should be based on what you believe based on your knowledge and personal experience and not what you feel in order for you to give accurate information.

As your name implies, you are supposed to know much about other crypto as the son to the blockchain himself, not withstanding if JJJ is only sharing information and advice limited to bitcoin only.
 
If you have other currencies that you would like to discuss, you can either create a thread about them or you can search for existing threads about them and ask your question, and you will definitely get good feedback.

 No offense @JayJuanGee, you're a very good teacher, infact one of the best posters I've come across since I joined the forum, and I'm really learning lots from you, I admire how you post and I wonder how you got much time to post bulky stuffs on a regular not until I went through your profile to see you're a reputable high ranking member of the forum who has vast knowledge about Cryptocurrency (especialy Bitcoin) in particular.
 I'm fully aware that Bitcoin is the most superior digital currency and one of the best if not the best for crypto investment but I noticed you mostly talk about Bitcoin and not other cryptocurrencies, I've seen you advise people concerning investments on Bitcoin but not other cryptos and based on that I got some questions, frst off, is it that there are no other good Cryptocurrencies for investment asides Bitcoin? Secondly, are other Cryptocurrencies useless, if not why were they created?