Topic: Invest only in Bitcoin and never invest in shitcoin (Read 1717 times)

You can only get lucky so many times. Consistent winnings are all about preparation.

As you said so yourself, your story is a typical one. All of us adventurous investors have lost plenty of money in altcoins. And then people come to their own conclusions. For instance, you decided to simply quit altcoins altogether, while I decided to learn more and not just relying on something as unreliable as luck for successful trades.

In the years that I invested in learning the intricacies of crypto trading, I came across challenges and found ways around them:

Problem: Altcoins are too many and you'd need too much time just to follow everything, identify opportunities, and make your trades.
Solution: It's 2023. Use technology to do all of that for you. I spent years identifying what an AI tool needed to have to perform these tasks efficiently, and now my little community uses human-in-the-loop AI for this stuff with remarkable success.

Problem: I'm a Bitcoin enthusiast but I want to maximize profits. Can't wait for a halving every 4 years to push the baseline up. I don't see how I can boost profits when I've had bad experiences with altcoins.
Solution: Diversification is really important if you want to maximize your gains. If done correctly - always for short-term gains - riding waves of profit in altcoins can grow your investments really well. Find a way to identify good opportunities in altcoins and watch the magic happen.

Problem: I don't know when to get out of an altcoin investment.
Solution: Always use rebalancing. It'll allow you to see when you're over-invested in a coin and maintain balance. When you hit those points, take the money out and invest it either in Bitcoin or another emerging opportunity.

These are the key problems I've solved for my community, and we're all growing our profits and investments, keeping the king coin at the center.

Bitcoin is expensive especially in the current market's value, only if you invest literally 1 Bitcoin amount of money just to say that you are investing, that is why some methods exist for some people to use such as the DCA method, so you can buy consistently with a small amount no matter how much Bitcoin's worth in the market. As he mentioned Bitcoin is expensive, and it is really hard to make a profit that is the reason why some people invest in altcoins since it's affordable but it can only get you short-term profits cause for sure if you compare it to long-term term-investment like Bitcoin, cause Bitcoin has a huge potential in Bullrun plus the fact that when Bitcoin's value is increasing, it also affects altcoins, it would be much better if you have investment in Bitcoin plus altcoins just make sure you choose good projects.

I'm not a fan of cryptocurrency or altcoins, but can you clarify what the shitcoins are that you say exist in the field of this business industry? I asked because I just don't understand why we always have to say altcoins are shitcoins. Does that mean all cryptocurrencies are shitcoins apart from Bitcoin?

Now there is also the idea that many investors have moved their lives to other cryptocurrencies. So, what you're saying is a bit contradictory; how can you say that those are shit coins and they made a lot of money? Can you please explain that OP?

I have nothing against people investing in altcoins and it is not as bad as many people are saying. I myself am making significant profits from altcoins but I disagree with you when you say bitcoin is too expensive to invest in. No one forces you to buy a full 1 bitcoin, you can buy it with any amount you have. People are chasing altcoins instead of bitcoin just because of profits and we cannot deny that altcoins give better returns than bitcoin these days. But on the contrary, bitcoin is safer than the entire altcoin market.

Here I agreed with you about this if we have good knowledge of all things then we can invest in these coins as well, but we need to be more careful about our investment because recently we have too many issues with many meme coins and other projects which fail to give their best as they mentioned in start which hurt investors confidence and money as well but if you are not good in things like these then surely you need to invest in bitcoin only because currently this is the best way for having better return of your investment with good profit as well.
For having profit on daily basis it's never been easy because it needs too much work and research by you, even many are doing and enjoying good but still risky affair and more troubled than investing in bitcoin.

do you mean that no good altcoins in the market? bitcoin is top coin and you can say it's a king of the market.
but you know it's too much expensive coin so everyone can not afford to invest in bitcoin,
they invest in potential altcoins and getting profits in short term or long term. personally i made huge profits by invest in many altcoins.

The rise of "shitcoins," is a testament to the transformative impact of Bitcoin. These altcoins, often launched with ambitious promises and excessive hype, reflect the enthusiasm and experimentation that characterize the cryptocurrency landscape. However, it's important to approach such investments with caution and due diligence, as many of these projects fail to deliver on their promises.

The notion that half of those who invested in shitcoins lost all their money highlights the inherent risks associated with speculative investments. The cryptocurrency market is still in its nascent stages, and many projects lack the underlying fundamentals to support their valuations. Therefore, it's crucial to conduct thorough research, assess risk tolerance, and invest only what you can afford to lose.

Actually, everyone can make a distinction between altcoins and Bitcoin, because when we know that a good investment is in Bitcoin, we should avoid altcoins so as not to invest them. But if it's just for short-term trading or to achieve daily profits through altcoins, I think that's also quite good because we can use every moment to make money even though the amount is not that much. However, if you can make a profit every day, the amount can also be quite large, although this is also a challenge that is not easy for everyone to achieve.

It would be fine if you guys mentioning shitcoins try to define what you mean by that because, in my experience, those who are labelling some cryptos shitcoins do not even know what they mean by that and what they are calling shitcoins are actually not shitcoins. See, not all altcoins are shitcoin, there are many that even make better utility and purpose than Bitcoin, only that Bitcoin is the first and might remain the most valuable. Personally, I believe this is a way to mislead people when you call some coins that are valuable and are backed with good projects shitcoins, most of these coins even go with very low and stable transaction fees. The only coins that should be called shitcoins coins are the unpopular ones and those that are being introduced by scammers or the failed ones, they are not hard to know. And anyone investing in those coins should know the risk involved as it might not go well with them over time.  

If someone buy certain shitcoins then obviously they will wait until next Bull run because if they sell these coins in less price then they will be in loss but they are in hope that one day their coins will increase in price and will show as a coin full of profit.

 I think that selling at lower or no price is a bad choice because if your coins are useless and you keep it for longer time then there is a possibility of attaining higher worth in future but if you don't value shitcoins then you will loss your money forever.
There are numerous people who become moneyed by holding shitcoins because they don't loss loss hope but they still consider themselves lucky and finally they get what they deserve.

Investing in Shitcoins is the most risky. This makes people frustrated most of the time. Most shitcoins are fake. With time he disappears. So you should invest in good altcoins or bitcoins. If you want to invest in altcoins you must invest in good coins. But in my opinion it will be better if you invest in Bitcoin for long term.

I think we have to have cryptocurrency knowledge, so we know the advantages and disadvantages between bitcoin and altcoins. and also new meme coins and altcoins. that way we will have broad insight to assess from various points of view, that way we can conclude what trading or investment steps to take. but indeed for those who want to invest in bitcoin it is also good, because it is safer.

Actually not too many people know about what you are offering including me. Those who are worshiping and exaggerating bitcoin and talking bad about altcoins, they are just saying what they think and they are trying to please some old bitcoin investors.

This market is very volatile and offers huge profits. So I'm really skeptical of people who say they only invest in bitcoin and have absolutely no altcoins in their portfolio. In addition to investors who have been investing in bitcoin for a long time (bitcoin maximalists), new investors have entered the market in recent years, I do not believe they only invest in bitcoin like they said.

Aren't you familiar with this game already? Most of this people hyping bitcoin may not even have a single portion of Bitcoin in their wallet but will come here to discredit altcoins. We can not compare altcoins with bitcoin when it comes to solid investment, potential and reliability but there are few altcoins that are definitely doing well and are capable of giving profits. Some people are just unfortunate to invest in some random projects that disappoint them and they will conclude all altcoins are Shitcoins.

Investing in altcoins is not entirely wrong but it is not advisable for long term investment. However, if you are interested in making quick profit, then altcoins are the best option but not good for holding at all. It is all about taking the risk and if you succeed, you make profit otherwise, you learn. Either way, you gain experience positively or negatively.

I appreciate you sharing your personal experience with investing in altcoins. It's understandable that the volatility and unpredictability of the altcoin market have led to some challenges for you in the past. It's great to hear that you found success with your Bitcoin investment, and I can see why you would prefer its lower risk and quicker recovery.

Investing is indeed a personal journey, and different strategies work for different individuals. Bitcoin's reputation as a relatively stable and resilient cryptocurrency is well-founded, and many investors share your perspective on its long-term potential.

I think this is almost the same thing with this topic. Your topic has shown that a lot of people are already waking up to the reality that it is safer focusing in Bitcoin only that in several coins and tokens. There are several advantages to this approach some of which the fact that Bitcoin have greater liquididty, not a pump and dump and as we know, Bitcoin is not a scam. Furthermore, a lot of these coins out their are not decentralized, meaning that are people who controls the supply and can print as much token as they want and dump them on the market.

So, I agree with you that Bitcoin is the way to go and should be the main focus. Anyone digressing a little to other coins should be cautious and  ready to do what most founders do when the chance to run present itself.

Most people here already know that bitcoin is the father of all cryptocurrencies. I just want to ask you: can you identify what shitcoins and altcoins you are referring to? Not all cryptocurrencies are shitcoins, right?

So maybe the others are yes; that's why there is a problem with which of the other cryptos are not potentials that are released as potentials. And the ones that get caught in this are the newbies who have no idea or knowledge of cryptocurrency.

It is only someone who lacks understanding that will prefer invest in shitcoins to bitcoin.  When I see people who invest in shitcoins it is either they have no understanding of what  bitcoin is, they feel investing in shitcoins is cheap. I think if people have a better understanding of what bitcoin is they won't ignore to invest in bitcoin and go shitcoins that is very risky and be crashed out from the market at anytime,  be for now their are shitcoins many people who are investing in it lose their money.

What coins does Shitcoin include? because now I am also investing in altcoins and I am making significant profits from it. Are all altcoins shitcoins? If you check Solana's chart, many people call it a shitcoin and will die when FTX collapses and SBF goes to jail. But those who bought when it dropped to 15-20 USD are making x3 x4 profits even if the bull season is not yet here. Is that called losing and failing or praying?

Bitcoin has returned 100% year-to-date, but many altcoins have returned 300%-500% year-to-date. If we talk about technology, I don't say they are better than bitcoin but if we talk about profitability, many altcoins are doing better.

Thanks for the correct definition of centralization and decentralization. That's because of a lack of knowledge, which you may already understand. As I said, I accept the word "The rest are centralized shit" is not correct, and I didn't mean it how I wrote that. The better wording could be "Most of them are centralized." Indeed, I have a lot to learn about these things.

I understand one thing: an average Joe can't know which is most decentralized and which is not. A person has to research to know it. I doubt people check those things you mentioned before they invest. At least I didn't check that much depth. A lot to learn! Thanks for the correction anyway