Topic: It is only Bitcoin and nothing else - page 9. (Read 1571 times)
Very few options in crypto market are worhtful to be held. We can't generalize every altcoins as shitcoins, because some of them are thriving side by side with Bitcoin for a long time already, like Ethereum, for an example, which offers the most popular chain for crypto developers to create their own concepts and projects. However, without any doubts, Bitcoin should be your first alternative when thinking about crypto investments and the cryptocurrency you should destinate the largest percentage of your bankroll for holdings. I would say 80%-90% of crypto holdings should be in BTC currency.
I've had my time of disappointment in the altcoin market around the end of 2018. It was clear that so many projects, even huge ones, failed to deliver on their ambitious promises. Many have brought their investors profits, of course, because of how high the prices went up in 2017, but it was just that, profits, and not the actual products. So I largely agree that focusing on Bitcoin makes sense, although I do think that at least some altcoins (at minimum, Ethereum) deserve some recognition as well. I don't mean people should hold them, though, as Ethereum doesn't tend to rise proportionately higher than Bitcoin, but Bitcoin seems to be a safer investment. As for other coins, maybe sometimes they rise above Bitcoin proportionately, but there's also more risk involved.
I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted. I was heartbroken seeing that some tokens who raised millions of dollars, had huge community and were trending even in various platforms just died. I wanted to not mention any particular token but I have to mention PumaPay that raised about $8 million yet could not deliver anything and got investors holding a bag of shit.
If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.
I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
Why not mention others as well? Puma Pay is a token from the 2019/era, why are you still into this altcoin today? Most old altcoins will get abandoned, this is how things go around in crypto space, the only old tokens you should have are the biggest ones like BNB, Polkadot, Polygon and few others, focus more on brand new altcoins with good team and when a bull market comes, dump all of them, wait for another bear market and buy Bitcoin with most if that money.If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.
I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
It's a fact that Bitcoin is the best but you can also grow your Bitcoin stash more faster with altcoins, I still prefer not putting all my eggs in one basket, if you diversify you only need one or two altcoins to do insanely well, and if you have ten altcoins it's impossible they all go wrong.
Bitcoin will always be my end goal, it's the number one coin that I want to keep for years but having 2 BTC now is almost impossible, but altcoins can get me there faster in a bull market, improve your altcoin hunting skills, and make sure you always take profits.
Its a regrettable situation. You've brought attention to an obvious flaw in the crypto ecosystem: the flood of tokens that initially look good but terrible inside. The case of PumaPay, which raised millions yet failed to perform, is not unique. Examples of this type of reckless mix of ignorance, greed, and insufficient research appear in the crypto world.
Even though Bitcoin was the first and still has a lot of value, its important to stress that this isnt a Bitcoin-only discussion. It concerns the fundamental frameworks of the modern economy, the demand for more responsibility in the context of digital currencies, and the necessity of transparency. Knowledge, judgment, and a fair dose of skepticism are essential for anyone setting out on this road.
Even though Bitcoin was the first and still has a lot of value, its important to stress that this isnt a Bitcoin-only discussion. It concerns the fundamental frameworks of the modern economy, the demand for more responsibility in the context of digital currencies, and the necessity of transparency. Knowledge, judgment, and a fair dose of skepticism are essential for anyone setting out on this road.
Bitcoin is the best and stands at the top of all currencies in the crypto market the price of altcoins rises depending on the price of bitcoin. Security is considered one of the most important things you need to take care of when making money from cryptocurrency. Many believe that all cryptocurrencies are as safe and secure as other currencies but this is not true each digital token has a different level of security but you only get the best with bitcoin. Bitcoin can provide you profit in long term and short term and that is why it is considered to be the safest available. Also Ethereum BNB is the best investment among altcoins it is better to stay away from new currencies and proceed after researching the market well.
I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted. I was heartbroken seeing that some tokens who raised millions of dollars, had huge community and were trending even in various platforms just died. I wanted to not mention any particular token but I have to mention PumaPay that raised about $8 million yet could not deliver anything and got investors holding a bag of shit.
If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.
I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.
I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
In one day the market showed a positive trend and this really helped overcome the confusion of many who asked when BTC would rise again, although slowly. yeah one word for the king of BTC, recover quickly and make ATH again and we know its potential in the future.
But you're a full member of the forum, so that goes to show you have been around for quite some time 🤔. Anyways, even before I got to join this forum, I have always been careful with the coins I choose and I only try to invest in the coins that are top on the list, especially the top ten or so. I buy majority of Bitcoin, and the remaining amount can go into ETH, ADA, and other top coins. But Bitcoin is always my top choice.
The cryptocurrency market has been around for over 14 years and shitcoins dying or being replaced is nothing new, why are you so surprised? Even a project like Luna with a capitalization of hundreds of billions of dollars can collapse and disappear in just a few days, so you shouldn't be surprised by projects that only mobilize a few tens of millions of dollars.
Bitcoin is unique, simply because it was created as a currency and not as an investment. But we have turned it into an investment, but even if it is no longer used as an investment, it will still be a currency, a means of payment. So it's completely different from the projects out there that are created to make money.
I would guess that after we learned it that became the norm but early on the first few years that wasn't a common knowledge and people made mistakes. Even exchanges of that time has gone down in bankruptcy, when I first started the bitcoin world mt.gox was still functioning and everyone I know used it, thankfully I couldn't, not that I wouldn't if I could then I would have but I couldn't and that's why I sent someone money via payupal to get bitcoin but at the end of the day it became obvious that alts were bad, well most of them.Bitcoin is unique, simply because it was created as a currency and not as an investment. But we have turned it into an investment, but even if it is no longer used as an investment, it will still be a currency, a means of payment. So it's completely different from the projects out there that are created to make money.
This is when we all learned not to invest into most of them, at least not long term but the early few years between 2010 to 2012, everyone invested into altcoins as well and there were no shitcoin understanding.
~snip~
It amazes me that so many people still think $hitcoins are an actual viable option.
It amazes me that so many people still think $hitcoins are an actual viable option.
I'm not surprised at all, people are greedy or desperate and you can sell them whatever you want, and what's even better for all those scammers is that people are not only naive, but you can take advantage of them several times until they finally realize that they've been scammed.
Bitcoin is of course something much different, but I still cannot be indifferent when I see that people are absolutely convinced that only by investing in Bitcoin they can count on a better future. I already recently wrote in another topic that there are various risks that should be taken into account. Here we can always refer to the old advice that says "don't invest more than you are prepared to lose".
or pure gamblers, risking more than they can/should on a purely made up project
aimed at lightening peoples wallets.
We all know at this stage or at leats I hope everyone does of the saying "don't invest
more than you are prepared to lose". but I have taken some risks in order to get
more Bitcoin...which have worked out.
Yes, in some ways, investing in altcoins can be called a kind of gambling, except that we can throw out the part that connects gambling with entertainment. What I have noticed in general in my environment, but also on the forum, is that there are a lot of young people who are still supported by their parents, and who still do not appreciate money in the way that they might appreciate it one day when they start earning it themselves.
There prevails the old saying that roughly says "easy money is easy to spend", and with all these social networks that young people use today, they are very easy targets for scammers. Some people know how to deal with risks, but the majority are completely unprepared and therefore have nothing but financial loss in the long run.
If you were at that time, you would not know whether Bitcoin could rise higher or remain at that price. That's what makes people buy a lot of shitcoins and hold onto them for a while. They hope to make a profit from those shitcoins.
But then, many shitcoins can't continue their journey and disappear with their developers and teams. Meanwhile, investors smile bitterly, seeing their losses and not being able to get their money back.
The crypto market will always be full of coins coming and going. And only those that are worthy and have a function can survive amidst the tough competition between coins. And that is why Bitcoin remains the main choice as an investment. Bitcoin is a coin that is worth holding for the short, medium and long term though. While shitcoins are only for the short and medium term and shitcoins will disappear in the long term because other shitcoins will replace them.
But then, many shitcoins can't continue their journey and disappear with their developers and teams. Meanwhile, investors smile bitterly, seeing their losses and not being able to get their money back.
The crypto market will always be full of coins coming and going. And only those that are worthy and have a function can survive amidst the tough competition between coins. And that is why Bitcoin remains the main choice as an investment. Bitcoin is a coin that is worth holding for the short, medium and long term though. While shitcoins are only for the short and medium term and shitcoins will disappear in the long term because other shitcoins will replace them.
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Well, I believe that a greater percentage of us who were not opportuned to discover Bitcoin in it's very early days; will sure have similar stories as one shared by the op' to tell..
And one that have stuck in my mind while reading through this thread was and is student coin, I invested not just money, but my time as well in that project, invited alot of people to invest in the project too, all this people are feeling like i scammed them today, student coin raised over $70 million dollars in their ico, but the price of the token has continued to be shit ever since it got listed, though the token is still actively trading on a few exchanges, the price remains shit, and chances of return on investment is still very much low .
And one that have stuck in my mind while reading through this thread was and is student coin, I invested not just money, but my time as well in that project, invited alot of people to invest in the project too, all this people are feeling like i scammed them today, student coin raised over $70 million dollars in their ico, but the price of the token has continued to be shit ever since it got listed, though the token is still actively trading on a few exchanges, the price remains shit, and chances of return on investment is still very much low .
I can remember a time when there were basically only 3 coins, namely Bitcoin ...LiteCoin... and DogeCoin and we laughed at the other two coins, because we were loyal to Bitcoin (BTC) .....then developers saw a way to make quick money and they created 1000s of Shitcoins and greedy people chased it, like it was a new Gold Rush.
I stayed with Bitcoin and I just bought more and more .... until I collected enough to sell those coins at a massive profit. Some of my friends bought "Shitcoins" and they are all bag holders now..
I stayed with Bitcoin and I just bought more and more .... until I collected enough to sell those coins at a massive profit. Some of my friends bought "Shitcoins" and they are all bag holders now..
I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted.
(....)
This is why now, I always have my heart back to Bitcoin. I admit that before, I was lured to some altcoins most are shitcoins. It was just sad because some of my funds that purchased of these random altcoins is came from Bitcoin, so if I just held, I could have more Bitcoin instead than losses.(....)
The higher the risk, the higher the profit, everything is proportional to each other. Bitcoin is indeed the top safe choice in the cryptocurrency market but in terms of profits it cannot be compared with altcoins. Investing in altcoins is extremely risky, the win rate is very low, but in return if you choose the right coin, the profits will be huge. Depending on each person's taste, there is a suitable choice. Those who are not willing to accept large losses should stay away from altcoins and stick with bitcoin. On the contrary, those who are willing to take risks can try altcoins.
I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted. I was heartbroken seeing that some tokens who raised millions of dollars, had huge community and were trending even in various platforms just died. I wanted to not mention any particular token but I have to mention PumaPay that raised about $8 million yet could not deliver anything and got investors holding a bag of shit.
If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.
I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.
I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
But unfortunately time cannot be turned back. If you look at the altcoin era in 2017 and 2018, that time was beyond logic, so many people joined in ICO investment, and most of those projects are now dead and have no price at all. It's very sad because many people lost their money.
Playing with altcoins is very dangerous, but in my opinion they can promise bigger profits than bitcoin. The price of an altcoin can rise tens of times its price, that's a big profit if you own it, but the risk is also very big, the altcoin you hold could die and have no price at all. Bitcoin is very difficult for its price to double, so altcoin profits can be greater than bitcoin. But if we want to store coins that are guaranteed and last a long time, then it is only bitcoin and nothing else.
So besides the many stories about losses due to altcoins, there are also stories of people who made big profits from trading altcoins. So don't get hung up on what has happened, because right now Bitcoin is the best choice and will last forever
This is why now, I always have my heart back to Bitcoin. I admit that before, I was lured to some altcoins most are shitcoins. It was just sad because some of my funds that purchased of these random altcoins is came from Bitcoin, so if I just held, I could have more Bitcoin instead than losses.
Holding a large portion of altcoins that will eventually become shitcoins will certainly be very detrimental, but haven't you done research first on why you have to hold shitcoins that will have no price and are mostly abandoned.Bitcoin is indeed the main choice, but some of the top altcoins are certainly alternative choices that can provide profits like ETH and it is clearly the king of all altcoins at the moment. ETH and Bitcoin both run simultaneously.
you are too lulled by the altcoin hype and don't get out when the price is high.
I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted.
(....)
This is why now, I always have my heart back to Bitcoin. I admit that before, I was lured to some altcoins most are shitcoins. It was just sad because some of my funds that purchased of these random altcoins is came from Bitcoin, so if I just held, I could have more Bitcoin instead than losses. (....)
I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
This is why nothing equates experience. It humbles us. One with experience is wiser than one without it. I remember that year I came into this industry and was full of hope and excitement of easily hitting a goldmine. Well, the goldmine almost happened for me if not that I continually shifted the threshold each time I was close to target. Greed did me in many times as I wouldn't sell off. Was always expecting more, thinking of turning a $100 investment to $2,000,000 just like that. Most of those tokens dipped beyond recovery, and thereafter died off. Many of them should be in my Imtoken wallet (that was the most popular ERC enabled wallet then), bag holding them.Yes, I agree with you that Bitcoin is the surest of all the cryptos to buy. However, make sure not to buy it during the bull season if you're to hodl. Now is the right time to buy Bitcoin for anyone desiring it. The next good time to buy after this year will be in 2026. Next year is halving and that's possibly going to push it into a rally for a fresh ATH (expectedly in 2025).
I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted. I was heartbroken seeing that some tokens who raised millions of dollars, had huge community and were trending even in various platforms just died. I wanted to not mention any particular token but I have to mention PumaPay that raised about $8 million yet could not deliver anything and got investors holding a bag of shit.
This project is created to milk every investors of its money. The developer never intended to deliver or make the project successful. Collecting $8M is huge enough to suppor the project actvities plus the possible token they sold along the way of as the token is being traded.
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If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.
You can always start a new. Now that you realized that Bitcoin is the best option to invest among the cryptocurrency, why not start accumulating now. Who knows probably you can recover your losses this time.
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I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.
I invested in many altcoins and hold a lot of worthless tokens so it is not only you who experiences this kind of thing. but I never regretted any of them since I only invest what I can afford to lose and because for me it is a good lesson to learn.
I was heartbroken seeing that some tokens who raised millions of dollars, had huge community and were trending even in various platforms just died. I wanted to not mention any particular token but I have to mention PumaPay that raised about $8 million yet could not deliver anything and got investors holding a bag of shit.
They never plan to deliver anything, they put the raised money into their pockets and fake activity for a few months until it becomes acceptable to silently abandon the so-called project. This is the destiny of nearly all tokens and altcoins. And the so-called community that hypes the so-called project is just a bunch of hired bounty hunters.
~snip~
It amazes me that so many people still think $hitcoins are an actual viable option.
It amazes me that so many people still think $hitcoins are an actual viable option.
I'm not surprised at all, people are greedy or desperate and you can sell them whatever you want, and what's even better for all those scammers is that people are not only naive, but you can take advantage of them several times until they finally realize that they've been scammed.
Bitcoin is of course something much different, but I still cannot be indifferent when I see that people are absolutely convinced that only by investing in Bitcoin they can count on a better future. I already recently wrote in another topic that there are various risks that should be taken into account. Here we can always refer to the old advice that says "don't invest more than you are prepared to lose".
or pure gamblers, risking more than they can/should on a purely made up project
aimed at lightening peoples wallets.
We all know at this stage or at leats I hope everyone does of the saying "don't invest
more than you are prepared to lose". but I have taken some risks in order to get
more Bitcoin...which have worked out.
Not all Altcoins are automatically shitcoins.
Shitcoins are the ones created for the single purpose like "getting rich quick".
Some alts have better properties than Bitcoin, they lack value though.
What becomes christal clear is that most crypto enthusiasts are in for FIAT, and not for crypto.
Shitcoins are the ones created for the single purpose like "getting rich quick".
Some alts have better properties than Bitcoin, they lack value though.
What becomes christal clear is that most crypto enthusiasts are in for FIAT, and not for crypto.
Maybe you should have at least given us an example of one altcoin that is better than Bitcoin. As far as I'm concerned, there are lots of altcoins or rather shitcoins out there that claims to provide same features with Bitcoin but they can never be Bitcoin. Altcoins, creators uses this pump and dump schemes solely to attract investors and make quick profits for them selfs. Bitcoin, being the best and most established cryptocurrency, is in a league of its own with a solid track record and a unique value proposition as digital gold.there's no coin like Bitcoin mate, you should have that in your mind.
They never stated "are better than Bitcoin" but have better properties like Monero
which is a specialist project in Privacy which Bitcoin is not.
There are Altcoins which are still viable and which are "old" projects like Monero and Litecoin.
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