In the end it just becomes a sham and of course it all comes back to bitcoin as the core of it.
I think with conditions like this, rather than looking for clear reasons with instant riches as a benchmark, I think it's better to move on to something that is more feasible.
We know that most of the people who are there only expect that, especially for those who are in shitcoin, but they are not too aware even though they say they are aware that this could actually lead them to destruction.
You see, some times I see some people that are into some kind of altcoin as big dreamers (why?) because they just buy some random coins that they think are more likely to blow them if the price gets pumped, but these coins just turn into shitcoins and don't add any value to their portfolio. Some people who are really determined to invest in crypto sometimes fall into these shitcoins before they realize it and begin to invest in Bitcoin. Some also just usually give up on crypto, not knowing that they are the reason why they did not get any profit from their investment. Some are also desperate to make a quick profit, so when they see some of these altcoins on the top 10, they really feel it's worth investing because the coin or token may get pumped.
That's actually fine with me apart from everyone wanting an altcoin in hopes that it never goes very well that's their business.
I only focus on myself with the bitcoins that I have and of course apart from other people who are doing things in altcoins, that's their business. Reminding is still possible, but when they choose a path like that with the hope of pumping it that makes them feel they have high hopes of getting rich instantly, then indeed things like that are better off not needing to be dealt with anymore.
They are focused on what they are after and I of course have to be focused on what I am after with bitcoin in my portfolio.
Ongoingly, each of us will likely still be faced with various dilemmas regarding how we choose to interact with people who are shitcoin pumpers, and questions regarding whether we want to attempt to share information with them in regards to bitcoin, or if we might choose to refrain from interacting with them because they might be too passionate in regards to their shitcoins and therefore we might have difficulties communicating with them from some kind of a common ground understanding and framework.
Surely, frequently many of us should be able to attempt to talk about bitcoin versus shitcoins with others in terms of trying to figure out what kinds of goals that each of us might be trying to achieve, and so sometimes there can be agreements to disagree about strategies, if we end up seeing and agreeing that some of the goals might be different.
A lot of us might share goals that we would like to get rich quick; however, some of us might appreciate and understand that if we attempt to strictly try to pursue a goal of attempting to get rich quick, then the actual pursuit of such goal may well end up causing us to lose value (financially and even morally/ethically).
Surely one of the frameworks for investing into bitcoin does include considering ways to attempt to preserve portfolio value, and even if bitcoin remains amongst the most conservative of the "cryptos," at the same time, relatively speaking bitcoin is also still a risky investment, so it is not even necessarily a good idea to over-allocate our investments into bitcoin, so in some sense, we may well want to consider how much are we investing into bitcoin as compared to investing into other assets, and when I refer to investing in other assets, I am not even getting into the idea of investing into shitcoins, but instead considering how much of our investment portfolio might have other traditional asset classes such as cash, stocks, property and even some other forms of investments/savings....
And, if we are new to investing, we might not even have any other investments besides cash and crypto.. so there is that angle too.. and then so within crypto.. how much are we thinking that we can fuck around with other kinds of investments besides bitcoin.. , and maybe it would be good to self-impose some kind of ceiling in regards to how much we might want to put into various shitcoins (while gambling that they might potentially perform better than bitcoin).. I personally would not invest any more than 10% of my total crypto investment into anything other than bitcoin (and I personally don't even have more than 1%), but surely there are some folks who will go further than that and even go over 50% into shitcoins and surely there are some folks are so dumb as to only have 10% to 20% or less in bitcoin, which might even be part of the premise of this thread if there is some kind of assertion that bitcoin might serve 1/10 of an annual investment package.. presuming that the investment into the top 10 cryptos would be evenly distributed, which is bordering on retarded, from my perspective.
Now some members have mentioned that they are more excited about some top 10 crypto rather than others, and have mentioned ethereum and BNB and maybe a few others, and even if it might be true that there could potentially be some better value (or even less downside risk) in those coins (shitcoins - especially ethereum), then still they should not be conceptualized as equally weighted to bitcoin, even if it is possible that in the short term they might out perform bitcoin in the short-term.. but there could be some ways to make some reasonable short term bets on either or both of those coins without presuming that either one of them should be held as "long term" investments, which is part of the justification that bitcoin should be kept in many of our portfolios as a long term bet that goes out for a minimum of 4 years, and even 10 to 20 years or more would be reasonably feasible when it comes to how to think about bitcoin holdings..
