Topic: Invest only in Bitcoin and never invest in shitcoin - page 8. (Read 1611 times)

I think everyone knows it here, with low-cap altcoins and stuff like that always comes big risks. A lot of people were brought into crypto by memecoins. That's one of the saddest things IMO. Because sooner or later they disappoint them.

I totally disagree with you that those altcoins in Binance exchange is safe to invest in. Altcoins remain altcoins, and nothing can change it. For you to invest in altcoin, it means that you will not have rest of mind in your investment because you will be busy checking your portfolio, making research. It is better that you avoid it because it doesn't worth the stress. It is only greedy people that get carries away with the hype and think that they can make 100x profit, and before you know it, you will run at lost.

It is better that you avoid altcoins and only buy bitcoin because it is easy to make profit from bitcoin, all you need to do is to be patient with your investment and hodli for one circle or more but altcoins are short term investment and it is like gambling that the risk of losing is 50-50. Bitcoin is the only cryptocurrency that will survive as time goes on and it will also increase in value.

You do have a point, I buy altcoins to enrich myself in the next bull market, because altcoins has the ability to make me more money than Bitcoin and I buy Bitcoin also to make some money and I am int Bitcoin for storing my funds, safer from inflation and with the package of decentralization I can't go wrong with Bitcoin ever, still altcoins are on my radar, those 100x to 1000x are still real and they always happen, that isn't coming from Bitcoin ever again.

You are wrong when you said that people invest in altcoins because of financial reasons, even whales and VCs are into altcoin investments as well, this is where the real money can be made, with $100 in a good altcoin you can make thousands of dollars, try that with Bitcoin and see what happens, Bitcoin is safer and still profitable on the long run and altcoins are more risky but also have higher ROI potential.

The problem people have with altcoins is putting their eggs in one basket, that's best with Bitcoin but not altcoins, because alts carries the biggest risks of all, they can pump now and dump forever, but the risk to reward ratio is just worthy for me, diversification with minimal amount of money in altcoins will win you a lot of money.

I think that you lack proper knowledge, and that is why you think maybe other shitcoins will work like Bitcoin, not knowing their real gamble. Anyone who has good knowledge and understands how Bitcoin works can be able to differentiate them, and such people will never think of investing in shitcoins. I am not always interested in them. Right from the day that I was introduced to cryptocurrency, I was directly introduced to Bitcoin, and the person explained better to me the differences between them, so even though people are making thousands of dollars from it, I have not always gotten attracted because I know how those many shitcoins operate; they are just pumps and dump coins, so for that reason, I referred to be in the save lane and hold only Bitcoin, even though the profits are not that much. Gradually, the profits will be increasing.
 

Although it is undeniable that they are not earning thousands of dollars through shitcoin, I don't think I have any knowledge of it. I have pals who earn thousands of dollars with shitcoin, but is there money available right now? Many of them invested it in other shitcoins once more, and as a result, those shitcoins are currently in significant decline. They aren't even sure what will happen after losing anything like 80% of their money. While I don't completely discourage people from using shitcoin, but never put a significant amount of money into it because, in my opinion as a serious gambling and with that shitcoin is all about luck.

Bitcoin helps me a lot in my trading career, journey and it gives me a lot of support whenever I need any support in any aspect of trading, surely I can say I didn't get that much profit from any coin, but the profit gives me bitcoin. Although some shitcoins also give me a decent profit in the trading journey at first there will be always bitcoin. I can say, that Dogecoin gave me a huge profit when it was listed on the exchanges, at first I got profit from it, but I had also been involved in the loss it gave me after some months. So, from meme coin we can't expect as that of bitcoin, meme coin is for short-term trading in my opinion and other class coin like bitcoin is for the long term and a good investment position as well.

But the problem I'm seeing is one can invest and start from a very small amount in other shitcoins whose prices are low at the moment, but in bitcoin, we have to invest a little more as compared to other cryptocurrencies, this is due to the price of Bitcoin that is about $27k, which is too high and if someone invests in bitcoin less, the profit will be less as compared to other coins.

Why does shitcoin have such a bad reputation? Because shitcoin tends to be a tool to scam newbies or other crypto currency holders, this coin tends to have little to no value so that it could easily attract investors as it is cheap, but that is their purpose; the more you buy, the more they earn. and this coin has no immediate discernible purpose. The diminished value of a shitcoin is often due to failed investor interest because it was not created in good faith or because its price was based on speculation. So it is not recommended to invest in this kind of coin if you think it has no purpose, no reason why it was created, or no solid project.

This is the kind of idea that many influencers are peddling all over social media. They are banking on the fact that many crypto newbies regret that they came late. They didn't really miss the bus, of course, but they arrived when BTC, ETH, and others are already expensive. They emphasize how all the shitcoins like Doge, Shib, and the like have already pumped hard and that they shouldn't miss another opportunity this time around. And then they proceed to promote a new shitcoin. They are shills, of course. Either they're paid to do it or they're heavily invested in it.

This is nothing but a trap. They highlight low prices, low market cap, and so on. These are baits. If you want to risk on new and unknown shitcoins, be aware that you're likely to lose than to profit.

Altcoins are like ponzi schemes - they grow until they crash to the ground. Those who invest late lose everything or at least a lot. You can never know when the really will end and the coin will start freefalling. Even if you bought earlier and have unrealized profit, you can get burned if you fail to sell it.  There's no safe and reliable strategies for trading altcoins even if you recognize that they are worthless in the long run. The best play is to not play that game and invest in solid long-term assets like Bitcoin.

You are not one of those people who made a lot of money by buying and investing in Shitcoins. All these people are very lucky but you bought them to be not lucky but more damaged. Shitcoin investment is not suitable for you. But if you invest in Bitcoin instead of Shitcoin, it is worry free and reliable even if you have little capital. There are many people like you who suffered from the same greed as you and later realized that investing in Shitcoins is completely stupid. Bitcoin is a valuable coin no matter what anyone says. Because Bitcoin is currently one of the most popular coins among people all over the world.

Tbh how many people do their due diligence before buying altcoins? Do they really consider the blockchain the project is built on, the use-cases of the coin or the just their gut feeling. I agree that 80% of the successes people have had with altcoins can be attributed to luck. There is no telling which coin will succeed and which will fail. The crypto market is so unpredictable, who would have thought meme coins would have any value but some were lucky enough to make good money from meme coins.


Also I think you should make a habit of previewing your posts and checking your spellings before you send them, you seem to have misspelled a couple of words in your posts.

True, I also have a good amount of profit from shitcoins what matter is the timing of entry and exit.  If we messed up in our entry in these shitcoins, then it is a sure lose for us.  I think engaging with shitcoin investment is for those people who can afford to lose their capital.  If we want a more secure investment, then I would also suggest investing in Bitcoin.  Since Bitcoin has high liquidity and huge community, even though it is highly volatile, the adoption can propel its price to recovery and even to new ATH which can lead to profit for investors.

Shitcoin or altcoin are pour gambling at least that is how I see them,  because the only time their are successful is when their are at their sell stage when they want to get potential investors who will invest into their imaginary projects coins,  the major channel that their get through to their potential victims is through social media and other channels that most in informed users visits in search of. Knowledge pf cryptocurrencie,  and instead investing in Bitcoin most time they get received and diverted into investing in those coins that end up scamming them.

And one of the things that those shitcoin influencers uses to deceives the victim is the slogan that Bitcoin is already too expensive and won't give them quick gains,  so they buy and gamble with those shitcoin thinking it does make them rich quickly which will end in regret for them,  I don't know if this happens to them because of the greed or another thing, but then it should be Bitcoin always instead to gamble with your resources.

Many investors profited because they diversified their investment. I believe Bitcoin dominance in crypto but if you diversify you can maximize the possible chance because there are other coins that will increase in value 10x especially if there is a bullrun which is not happening in Bitcoin by itself as of today. Because if you stick to one coin, if the price dump or maybe do a rugpull, you won't be able to recover, it would be good if you invested in Bitcoin because it is safe from such scenarios.

There are legit altcoins that many people invest in like xrp, eth, matic and solana, and it's good to invest in them.

We have been over this. Bitcoin is the ultimate shitcoin for having a mining algorithm that was never designed to advance science. And as a shitcoin, Bitcoin attracts nothing but shit humans. Shit.

-Joseph Van Name Ph.D.

As much as I believe in Bitcoin, there is also a saying in investment that goes like "never put all your eggs in one basket".
I know that the market is filled with so many shit coin but that doesn't mean that there are no altcoin that is worth it for investment or holding.

I don't consider shitcoin investors as investors, I consider them to be gamblers.

How on earth do you invest into something built on nothing and expect it to last?

It's purely a gamble and whatever comes out of it is expected, my only surprise is that the shitcoins have more supporters than real projects.

Many people are aware that Bitcoin remains the market leader and the father/leader of all cryptocurrencies.


Maybe during these times you didn't do your own research first, so in the end your capital ended up in nothing, or maybe you got carried away by the hype of the shit coin you are talking about.


If there are people who made a lot of money in meme coins, it's because they saw the trend and hyped the meme at that time. And there were also many people who were embarrassed and said shitcoins were invested by those who believed in Shiba Inu, Pepe Coin, and others.

It just means that we shouldn't be judgmental about a porke meme coin; it's shit right away. Do a DYOR first, and when we prove the meme coin is not real, we say this coin is shit. Because the word meme is not bad, in my opinion.

Sure, people only invest in altcoins, they won't use altcoins for payment purpose like Bitcoin. People choose altcoins because altcoins prices are move volatile, it can increase more significantly than Bitcoin. The reason is clear, people is eager to get higher profits from altcoins investment. It is surely different with Bitcoin, there are people to use Bitcoin for any transaction. In some countries, Bitcoin can be used for paying goods or services.

Agree. Most of new projects only grow in the early stage, before the tokens/coins are listed in exchanges. But when the public sale is over and the coins/tokens are listed in exchanges, the projects will begin to grow slowly. Then, finally the projects will stop or dead after the developers/team have gone and never come back to update any information about the development of the projects. Sure, only Bitcoin that is really proven, it never stops although it is already more than 10 years.

You would really be normally be making those self realizations on the time that you would really be that committing those mistakes on which everyone did really have done the same mistake but surprisingly there are still those people who do really love on engaging with shitcoins and doesnt really mind about the huge risks imposed to it. There are really ones who do really love on playing with fire and doesnt really been bothered about the potential risks that they could really be able to deal with and they would really be just simply focusing out on the money that they could potentially make once it would boom out.Yes, there are coins that made it through
but most of them do wither and die on which it is really just that a common thing that do happen.

You could always have the option as long your finances or capital would permit you but i do agree into those words that nothing beats out if you do make out some prioritization
on having Bitcoin allocates on bigger percentage on your portfolio even if you do consider some altcoins too on your bag but of course it would depending on preference
since not all would really be that a solid support or fan of Bitcoin and do consider out other projects which i couldnt blame because in speaking about returns then those
cheaper ones does have chance on hitting xxxx in price.

I think some sense of openness towards other projects can't hurt. That doesn't mean anyone should shift their BTC holdings into some alternative cryptocurrency, but absorbing new developments and understanding potential future technology has never done anything bad to anyone. If you are talking about all those ICOs that were intrinsically worthless, then I agree. But in general I like to read up on new stuff that I find interesting and if there is really some available cash, I wouldn't mind investing some if a project gets the basics right and has some innovative technology to offer. With the basics I mean not some hot air white paper, but maybe some prototyping that already makes sense and is practically useable. I think any inflexibility is as bad as greed and dumping money everywhere.