Topic: It is only Bitcoin and nothing else - page 4. (Read 1574 times)

Nonsense.  Diversification is not necessary. You are repeating a lie in at least a couple of ways:  1) you are misusing the term diversification to suggest that it applies to shitcoins or to investing into assets that are already largely correlated to bitcoin and  2) the practice of diversification (if it is helpful) is most applicable accross industry sectors, not within the same industry (or sectors).. so think bitcoin, stocks, property, commodities, bonds and cash/cash equivalents.. shitcoins ar not a separate sector they are related to bitcoin... largely as affinity scams.


That's dumb.

Just because others do it does not make it a good plan. or even make it necessary to do... sure you can fuck around with those coins on a short term basis, but it is not a good long term plan because you better know how to get in and out and how to not overallocate to such pump and dump crap.


There is nothing wrong with the concept of diversification, especially once one might start to get to a level of savings/investments in which it starts to matter.. but overly diversification can also be a lack of focus.. so there should be some balance in terms of how much time, money and energies that people can spread themselves out in order to get such diversification balance which will also partly depend upon how much time money and energy they have too.. so it is not a given that diversification is a good idea for all people in all situations.


That is a dumb and a false premise.

Shitcoins are not going to save you if bitcoin fails.


They might not be competing with bitcoin, but they are not adding you any kind of protection in the event that bitcoin were to go down.  Only ill-informed people think those kinds of things.. You have to really not know what bitcoin is if you are going to conclude that some shitcoin is going to succeed in the event that bitcoin is not doing well.


Another dumb reason to invest into something.. and you are admitting that shticoins are not an investment.  They are merely an in and out play.. so yeah, sure you can invest into some shitcoins, but it better not be more than 10% of the value of your bitcoin holdings, and maybe even 10% would be too much and  you surely are saying that if you do happen to fuck around with shitcoins you better know when to get in and when to get out, too.

Sure you are largely admitting that shitcoins are gambling, and surely gambling is not a very good investment approach.


Long term investors need to think about both upside and downside. not just upside.. so yeah if you are investing in shitcoins because you want upside, then surely you have to make sure that you are able to get out without getting too worried about holding them for the long term.. or hopefully not getting trapped into holding them longer than you should.


I doubt that the bitcoin halvening is priced in... and the fact that you are already admitting that the market reacts in unpredictable ways likely shows that the halvening is not priced in.


This makes some sense in terms of the tailoring that anyone should be attempting to perform when they decide the extent to which they should spread themselves out.

I came across post that speaks about ICO period how it was scheme to extort investors their hand earned money and lot of people fell victim of it and projects owners were raising lots of money through ICO and IEO, IDO although I also made little research about it. After my research and knowledge gathered here so far I decided to distance whatever called altcoin especially those that are newly doing their sales in form of seeding and whatever they called fundraising, that's where most people got it twisted without knowing they are only being attracted to have their little savings stolen away from them. However I still give all my trust and reliability to bitcoin, I must not learned from what happened to others before it happens to me.

One reason why some people fall victim to most of those altcoin projects is because of their greed to make too much profit due to the promises that are made by those projects. For example, during a project's ICO, they could have like two phases: the first phase, where they can decide to sell their coin for $0.4, and the second phase, where they could sell the coin for $0.08, after which they will make an announcement on their exchange listing date, where they can tell investors that the listing price will be $2 or $3, but investors will get disappointed that the token will later get listed even at a lesser price than the ICO price.

I don't like altcoins, and whoever's dealing with altcoins should be greatly aware that they are into a game of profit and loss, more like gambling.

Diversification is vital, indeed. But lets be clear here. Not all diversifications gives you. Some lead to a diversified portfolio of losses (lol). Yes, putting money in different coins could increase the opportunity. But lets not forget, other coins, despite their low price, they indeed riskier than bitcoin

Bitcoin's price is steep. However, its the most well-known, the one that most altcoins try to mimic the price. You mentioned halving and buying multiple other coins. Its a strategy, sure. But remember, halving events are already priced in, and the market reacts in its unpredictable ways.

Yes, having different income streams is beneficial. Bitcoin investment alongside a business or job? A good play. But diversification is not just about scattering funds. Its about smartly allocating them, understanding each asset's dynamics, and staying vigilant in the constantly shifting financial world.

I never knew when I bursted into laughter seeing this your comment. @JJG really have this unique way of creating emphasis; Obviously, the point is clear now. $10 is truly the case of "he that is down need fear no fall". Actually, and if we want to be realistic with ourselves, anyone who cannot afford  $10 per week should get a job and put investment on hold. This is because if you are not sure of $10 per week, it means the person need help and there is the possibility that if such a person have investment in Bitcoin, the investment will not survive within a short time because it is someone that have eaten and is alive that will think about investment. Even when we emphasis the need for someone to start making investment now in preparation for the future, we should also encourage people to put effort at securing stable and reliable sources of income so that the investment will just be a case of saving for the rainy days.

Thankfully, we are in the era of internet where there are many ways of getting money. From content creation to freelancing, there are so much one can do to generate income even if it is not big. It is when the source of income is secured that investment will be possible and comfortable to embark on.

Does this mean you still have some shitcoins you are hoping they will rise again? It is truly a difficult situation to be in. If you are lucky to see any or some of them come back alive, you already know what to do because you never can tell if such opportunity will ever come again.

If you like risk and are looking for higher returns, diversifying into altcoins may be right for you. But if you seek safety, diversifying with altcoins is pointless because the entire market will cease to exist when bitcoin disappears.
But I agree with your thoughts, altcoins are not suitable for long-term holding, they are only suitable for speculation. We can gamble with them with a small amount of capital and should withdraw as soon as we make a profit, don't believe in any promises from those shitcoin projects.

There's actually point in diversifying your portfolios. The existence of one thing lead to another and so it is in the crypto space. Having all your eggs in one basket is not ideal. I'm not actually saying that bitcoin is going to fail you and the alt coin saving you or vice versa. The alt coins have their time and they're not in competition with bitcoin at all. Alt coin are also not meant for long time holding like bitcoin but rather look for opportunity and milk from them when their time comes. But remember that whatever you do in crypto space is all about risk. It might work in your favor some time while some other time it may not work well for you. You just have to gamble, if you win you celebrate and if otherwise, you learn some lesson.

Diversification is necessary because sometimes people put money in new coins which offers a beneficial platform for them to get better revenue. We know that every other coin is totally dependent on bitcoin but we also know that how expensive bitcoin is.

Only few individuals are able and skilled to purchase bitcoin but most of the individuals living here are not moneyed enough to purchase bitcoin therefore when they hear about halving so they purchase multiple other coins as they know that halving absolutely will change the value of such coins in that direction in which bitcoin moves.

diversification in other field is also full of advantages like if a person is a part of business or job and at a same time continue his bitcoin investment then there will be a greater chance of successful diversification as if one market is down other will be up to offer you desirable outcomes.

Experience in  crypto investment adventure has taught some of us unlucky starters a lot that we had to lose the little funds we had before we got to know about the real deal BTC . Anyone still caught up in those shitcoins hodling is like someone who driving on 180 on a free wheel you're bound to crash at any time. If I had knew about bitcoin from the very first day I took out money to invest on a cryptocurrency and if it had been bitcoin I invested on only heaven knows how much I would have made as profit by now in the sense that the plan was to hodl it for long buy unfortunately it was on  a pump and dump  token . It's a lesson .

I don't think any of your words are deniable; it is true that altcoins are not reliable, and that is why they are worth not holding for long periods of time. There may be a few projects out there claiming to be strong, but despite having been there for many years, I don't think I can trust any of them because I have seen similar projects that eventually became scam projects. The fact that those altcoins claim to be the strongest is that they still have not directed their own price but are following the direction of the Bitcoin price, and some times they even lost the direction by not following the pattern of the Bitcoin price, so I just see them as pump and dump coins.
 
I can say I have had much experience with these altcoins because I was introduced to Bitcoin before all these altcoins, so even when I started to know about them, I was not much interested in them, and with the help of the forum again, I lost interest in them at all. So even when I invested in one of these altcoins, it was for a very small amount.

Oh no!
This is a bit funny to see someone thinking of splitting 10$ into equal two parts because I can see how frustrating it's for someone to speak of diversification and yet still on a same circle of investment being digital assets. If actually someone really wants to diversify then I can say acquiring a landed properties is another pretty cool ways of investment instead circling around same investment and between, known to be altcoin that aren't trusted oh have a solid foundation to say we can fully rely on them for long run.

Naturally from my experience so far I won't think of diversifying my portfolio with garbages of shitcoin that I know if there are strong or any hard wave that comes within the bear season, those coin could hardly survive the pressure from the market which might still leads to dump and whenever a coin (tokens) is being dump it stir up a serious FUD between the holders to which would possibly leads to seriously panic for them offload those garbages that was loads as diversification of investment. The truth be told people don't like sticking into one investment especially wanting to utilize every single opportunities by trying to play smart game to take profits from other altcoin without knowing they are endangering themselves the more. Presently hold bitcoin is of the most important thing to do.

Diversification is code for buy shitcoins, and there is no need to buy shitcoins.

size of your position is likely the name of the game.

If you are new to investing including bitcoin, you may well spend 1-10 years just building up your investment portfolio up to a sufficient size that it is warranting the consideration of diversification.. so maybe you don't really need any diversification until the size of your investment becomes 20% to 50% of your annual salary (expenses) or even higher than that.

There is not need to diversify for the mere sake of diversification.. especially if you are considering the buying of shitcoins as your version of "diversification."

Actual diversification would be across asset classes rather than within the same asset class, so someone who is invested into bitcoin might consider diversifying into equities, property, commodities (although bitcoin is already a commodity), bonds and cash (or cash equivalents)...

Yet, again, even if we know what diversification means, it still is not necessary to diversify when you are a relatively new investor until you get up to a certain investment size. Otherwise you are just diluting whatever it is that you are investing into meaninglessness... For example, if you are ONLY investing $10 to $100 per week, it is going to take a bit of time to get up to a meaningful amount, and if you are on the lower end of the range, then please tell me what the fuck purpose is there to dividing $10 into smaller parts?  merely to proclaim: "I am diversified?"

The past is like a ghost - its there, but you cant touch it, and it doesnt help anyone to feel bad about money. Your words make me think of an old saying: "You can't plow a field by turning it over in your mind." Im very sorry to hear about what happened to your dad. When you lose something important to you, the past weighs on you.

On to the coin, huh? Isn't that how life is? We talk about the bad times and the coins that have lost value, but how often do we talk about the things that are going well? You are right on! If LUNA had gone through the roof, people would be humming a different tune. Polygon is a good example, right? From 0.004 dollars to turning holders into whales.

Lets really share more of what's good. The world already has enough bad news. In bitcoin, diversification is the name of the game. If you put these eggs in different bags, one bad egg wont ruin the rest. Cheers to looking ahead and finding crypto's next big thing!

Thats one thing about all this new tokens that keeps pumping up everytime and its mostly a repeat of previous project ideas that never succeeds. its crazy and its not going to stop. most of it is just paper based ideas that never gets really implemented. the question i ask is that if bitcoin adoption is a struggling battle do you think other altcoins will succeed? i think these altcoins are good to increase your portfolio especially if you join early, but a major hodl should be bitcoin.

And that is also the difference between bitcoin and shitcoin. Bitcoin was never advertised by Satoshi as bringing profit, bringing wealth to anyone, he only said that it will bring us freedom and no longer be censored by anyone or not must depend on a third party. Meanwhile, I have not seen any altcoin claim that they are bringing technology to change the world, instead they always talk about profits. It can be said that they openly scam us, but most of them don't pay attention.

There is a saying that "those who forget their past always repeat the mistakes of the past". Talking about the past is not a sign of frustration in the process but a way of appreciating where we are coming from, the mistakes and lessons learnt and how to be better positioned for the future.

Besides, there are lots of new members who can learn from these stories and make better investment decisions by avoiding our mistakes. So, the post might actually have achieved the intended purpose


There is no hate whatsoever! Why will you hate someone for making decisions that affects only them. It is their money and how they use it is entirely up to them. The post is only intended to share ideas while the decision on future cause of action rest with individuals.

Even though that's what happened to you, I see that you have learned a lesson from what you did in your past investing in Pumapay, and at least now you appreciate better that Bitcoin is a good investment compared to other cryptocurrencies. Although there are also other altcoins that can actually provide us with good savings in the future,

You know the truth: all of us here in the community of the platform want to have large holdings in Bitcoin. The only problem is that most of us don't have a lot of money to do it. But instead, the method we are trying to use now is the DCA so that, at least little by little, we can accumulate Bitcoin.

I don't always care about the past, what is gone is gone, the only time I feel sad about my past is because it involved a lot life, I miss my father and I wish he is still here, but for anything financial, there is no point holding on to the past.

Also, those of you complaining about a coin that turned shit, would you do the same if the opposite happened? If LUNA never collapsed and it turn holders into big whales today will you all be out here complaining?

Why are we hearing about the dead coins? What about those that are still very good right even while bears are taking over the market? Any Polygon whale on here? It's was 0.004$ per Polygon years ago and holding till date still makes you a whale isn't it?

People tend to complain only when things are not going fine, we should learn to share the happy stuffs on here too, many alts are crap but not all of them will fail, you can't rely on a single coin and call it a crypto portfolio.

Why do many people like to talk about the past and always wish to return to the past while we still have a future? There is still enough time and opportunity for us to start everything again, and if we really regret the past and don't want that mistake to repeat in the future, then we should act now. Focus on bitcoin and stay away from altcoins.


I don't hate people who invest in altcoins because it's their choice and they're investing with their own money, it all doesn't affect me so there's no reason to hate them. But I have also learned about altcoins, so I will focus mainly on bitcoin and believe it is the best long-term investment.

a dram we all have mate, to turn back time and return when we first met Bitcoin and sell all our assets to buy bitcoin and so for now we are millionaire .

but that is what past is , for us to learn , yeah the price of bitcoin maybe High now yet ? it is never too late , we can still purchase and save for the future, it might not be for us but for our children and love one.

That last part is what we are all believing now , have tried buying and even holding some good coins but none that brings me what i have got in bitcoin for 2 Bull marketing now .

so yes ONLY BITCOIn .