Newbies focus on buying Bitcoin, ignore the noise about other cryptocurrencies

michellee

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Quote from: Yucky on December 17, 2024, 08:52:02 AM

True, for newbies investing in Bitcoin should just stick to the DCA method, so they accumulate over time. I wouldn't say they shouldn't try other altcoins, if they happen to study the market and the altcoin has potential, investing in it is not a bad idea either.

Although, even though when Bitcoin experiences bear run, it tends to have better potential than altcoins, but there are some altcoins that actually can give you 10x your investment.

So I think one thing newbies need to remember is that whether it's Bitcoin or altcoin, they need to work with time and with patience to invest. No form of investment is cheap, whether it's digital or physical investment, you still need to put in the money.

Make up your mind that investment is a long-term game, and that the crypto market is volatile, and that it will take time for them to rip. Not because the market is bullish now, it's going to continue being like that.

Stick to DCA method will help them to accumulate more and more Bitcoin constantly. If they want to still invest in other coins, they must research first before decide and not just follow what others suggestion.

Yes, Bitcoin will have better chance than altcoin so when newbies focus their investment in Bitcoin, they will not disappointed in the future. If they can use altcoin as the next investment, that will not be a problem because altcoin can also gives them profit.

They must remember that before they start investing in crypto, they must research. That is the thing to make a profit in crypto and not let others suggest to buy the coin before they research.

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Quote from: I_Anime on December 16, 2024, 01:28:33 PM

This topic is quite funny lol , well but the topic is still nice at same time , alot of folks at there kept given folks speculation concerning a particular coin that don't actually have any good potential and most newbies now and days are kinda gullible so they will just run in , in investing in that Same project and endup getting rekt , so is safer to stick with bitcoin though there's still some risk in it because there's nothing like a risk free investment.

Well I think the topic is just okay, because it seems to be a very big encouragement to all the newbies in community to put more trust on Bitcoin by buying and holding for future use. Of course is very necessary for us to encourage them to invest in Bitcoin, so that they wouldn't go and lavish their money into gambling shirtcoins. However, as a newbie that really knows the value of Bitcoin you don't need to be told before you would know that Bitcoin investment is the best.

Yucky

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Quote from: michellee on December 16, 2024, 11:34:00 PM

But many people may say that to invest in Bitcoin is not cheap because they need to use a large of money to have Bitcoin for their investment. But if they know that they can invest in Bitcoin using DCA methods, they will be happy to find the right ways to have more Bitcoin from time to time.

True, for newbies investing in Bitcoin should just stick to the DCA method, so they accumulate over time. I wouldn't say they shouldn't try other altcoins, if they happen to study the market and the altcoin has potential, investing in it is not a bad idea either.

Although, even though when Bitcoin experiences bear run, it tends to have better potential than altcoins, but there are some altcoins that actually can give you 10x your investment.

So I think one thing newbies need to remember is that whether it's Bitcoin or altcoin, they need to work with time and with patience to invest. No form of investment is cheap, whether it's digital or physical investment, you still need to put in the money.

Make up your mind that investment is a long-term game, and that the crypto market is volatile, and that it will take time for them to rip. Not because the market is bullish now, it's going to continue being like that.

ultrloa

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Quote from: Samlucky O on December 05, 2024, 09:47:37 PM

Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Newbies chasing shitcoin in expectations or pursuit of quick wealth are Just being ignorant. Because they thought bitcoin is too expensive and looking for a shortcut to wealth not knowing its the quickest way to poverty. Due to the high demand to make quick wealth has made many youths lose there money in some shitcoin and blame it on bitcoin, that bitcoin or cryptocurrency is a scam, not knowing they failed to do proper research. I would say newbies should invest in bitcoin than wasting those money on gambling coin because Its a pump and dump coin and no real long term value. I have many of them lying dead in my wallet due to my lack Of understanding about bitcoin back then.

What can you expect if this is what those experience people teach to them? For sure that they would expect something unrealistic especially if they are blinded with those result gotten by those people they are following. And this is common problem of newbies since usually they didn't verify those things they are trying to chase. That's why we always see some unfortunate results coming from them.

Learning from those mistakes is kinda expensive that's why its always good for new investors to do further more research before trying to participate on something. Since its hard to take a risk especially if they don't know what's going to happen on those schemes they are trying to participate. There's huge chance for them to lose their money in shitcoins that's why if they want to get involve on more decent investment better if they try to learn more about Bitcoin long term investment since so far this is the best choice that we could pick compare on those scams around.

michellee

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That is normal if they pursue quick wealth because that is what they see on their social media. Many people post their moment making money from crypto and attract many people attention to join. But they don't think that to get that much money, they need to learns and research to find the ways. They can not just follow what other people do because that will not always works for them. If they just invest in the project that they don't know, they will difficult to make a profit. So that is why they must focus on investing in Bitcoin because they already see what Bitcoin can gives to them. But many people may say that to invest in Bitcoin is not cheap because they need to use a large of money to have Bitcoin for their investment. But if they know that they can invest in Bitcoin using DCA methods, they will be happy to find the right ways to have more Bitcoin from time to time.

reagansimms

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Chasing wealth through shitcoin is a mistake that investors have made, newbies can distinguish between investments that have high risks and investments that can maintain the value of their assets. Newbie investors need to consider some risks before investing in low-cap tokens, shitcoins have no guarantee that their value will continue to exist in the future, the value of shitcoins can change drastically, so investors can experience huge losses in a short time.

Shitcoin is also not designed as a serious project like some of the other top coins and lacks strong partnerships or connectivity which makes it very vulnerable to manipulation and volatility. Hopefully Newbie Investors read this topic before making decisions that can lead them into a hole of loss.

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Quote from: DaNNy001 on December 16, 2024, 05:23:52 PM

The major problem something is the orientation give to these newbies because most of them get attracted to Bitcoin maybe due to some ads of short term traders claiming to have made millions of dollars under a very short space of time and also friends with low knowledge about Bitcoin telling or presenting Bitcoin as some sort of get rich scheme. Many of these newbies then fail to do their research and follow up with buying altcoins thinking they can replicate the effect of making or getting quick returns from these coins.

Cryptocurrency market has its bull and bear market that starts with Bitcoin. Bitcoin is bearish, cryptocurrency is bearish too, and if Bitcoin is bullish, so is cryptocurrency market.

People as newbies will mostly be exposed to cryptocurrency market with news about Bitcoin especially in a new Bitcoin bull run around its Bitcoin block subsidy halving. However, very soon after that, newbies will be exposted to and attracted to altcoins because they easily see Bitcoin price is very high. As inexperienced newbies, they want something cheap, that can allow them buying a lot, and they fall into altcoins, meme tokens.

With time, newbies will realize that Bitcoin is best for their investment portfolio.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

The major problem something is the orientation give to these newbies because most of them get attracted to Bitcoin maybe due to some ads of short term traders claiming to have made millions of dollars under a very short space of time and also friends with low knowledge about Bitcoin telling or presenting Bitcoin as some sort of get rich scheme. Many of these newbies then fail to do their research and follow up with buying altcoins thinking they can replicate the effect of making or getting quick returns from these coins.

Aanuoluwatofunmi

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A newbie who is not only focused on making money at first than seeking after the required knowledge will realized that bitcoin is the first before any other, then if we want to stay off taking much risk on crypto, then we should try as possible to see that we avoid some altcoins we are not knowing much about them, most especially the newly introduced ones.

But when we set in with the right mindset, then every other things that follows will be made easy for us to adapt with the conditions attached in them, than when we are having a misplaced priority over the crypto coin we are investing and yet expecting return from it.

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Quote from: I_Anime on December 16, 2024, 01:28:33 PM

This topic is quite funny lol , well but the topic is still nice at same time , alot of folks at there kept given folks speculation concerning a particular coin that don't actually have any good potential and most newbies now and days are kinda gullible so they will just run in , in investing in that Same project and endup getting rekt , so is safer to stick with bitcoin though there's still some risk in it because there's nothing like a risk free investment.

As for me, I don't see what is funny there because even without reading through the body of the post, one can easily see the that the topic is self explanatory and rightly on time as we are in at a time when many people are thinking more of selling and taking profits when they should be buying more because we are yet to even near the peak of the bull run. From the time the post was made, bitcoin has grown rapidly which shows that selling the post was made would have lead to the investor losing significantly. So selling now is not the best option for newbies and every bitcoin holder.

Dzwaafu11

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Newbies don’t really understand that bitcoin is the best crypto asset; investors should accumulate many of them, as they are running for bitcoin because of the period of time it will take before they can get a profit from what they invest, but that is not the case. They don’t understand that investing in my other coin apart from bitcoin is gambling or high risk.

Although some newbies are doing this due to false information, while some of them do it intentionally, it is good if they put their money in only bitcoin and leave the rest of the shitcoins because, in the long run, they will lose their money, and many of them invest huge amounts of money because they think that is what will determine their profit in it; they don’t realise the risk in what they are doing.

I_Anime

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This topic is quite funny lol , well but the topic is still nice at same time , alot of folks at there kept given folks speculation concerning a particular coin that don't actually have any good potential and most newbies now and days are kinda gullible so they will just run in , in investing in that Same project and endup getting rekt , so is safer to stick with bitcoin though there's still some risk in it because there's nothing like a risk free investment.

SOKO-DEKE

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

The truth is that newbies lack proper knowledge about Bitcoin and cryptocurrency in general, and that may be the reason why they are always inclined to invest in shitcoins, thinking they will make quick and easy profits through these investments. In fact, many of these newbies don't even know the difference between Bitcoin and these shitcoin projects.

Many newbies always think that even the price of shitcoins may later rise to the level of Bitcoin's price, which they don't realize is impossible. If more newbies could seek proper knowledge first before investing in any of these shitcoin projects and learn what happens to those shitcoins after a few months or two to three years, they would hardly consider investing in them because they pump and dump. One thing that convinces newbies to invest in shitcoins are the influence of social media influencers many of them are following.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

The hypes on memcoins is what is driving most of these newbies crazy, they are moved by the money people do make in some of these memcoins because they do give huge profit than Bitcoin for short period of time, but newbies do skip the risk behind investing in such shitcoins and end up blaming whoever introduced them and calling crypto all sort of names like scams and so on.

It is very important for newbies to know that the security of their clearly in crypto is on Bitcoin; any other coin apart from Bitcoin because it is the only most secured crypto assets and most reliable asset that have less risk if properly hold and managed well in decentralized open-source wallets.

ultrloa

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Quote from: knowngunman on December 16, 2024, 02:15:17 AM

Quote from: Ruttoshi on December 05, 2024, 04:01:55 AM

Investing on shitcoins is gambling and that means that you will definitely not be happy with your investment in the long run. Bitcoin investment is the first thing anybody that wants to invest in the cryptospace should invest in, because when you invest and grow your portfolio with DCA in the long term, you will be in profit since bitcoin is still young and the price increases overtime.

You should also see bitcoin from this angle an asset that keeps the value of your money from inflation, because whatever amount of money you are using to buy bitcoin will not be affected by inflation. Instead of saving in the bank for 4 years and above, save those money gradually in bitcoin and enjoy the benefits in the long run.

Not only shitcoins but every investment is like a gambling including Bitcoin itself. The only difference is that in even in real gambling space, there are games with less risk involved and your chances of winning is high but not guaranteed. This same feature applies to Bitcoin and shitcoins. Investing in Bitcoin simply means you're staking your asset on the less risky market and the chances you'll benefit immensely is high but must be aware that every investment involves risk no matter how small.

However, if you invest in shitcoins, there's possibilities for high returns but the chances you'll lose your entire assets value is also possible. Investing in Bitcoin is just like placing a bet on a sure odds even though it doesn't exist in reality.

But compare on Bitcoin we know how really good it is, This is not the same with other shitcoins out there that once there's a big dump came the price won't recover. Rug pull schemes are pretty common in this scene that's why people should not think about holding it for long months since they might really end up regretting for the money they lose from those scam tokens.

That's why I always recommend Bitcoin when someone asking me what's best to invest since we know that there's huge chance for them to enjoy their gains from this coin especially if they have long patience to deal with Bitcoin for long term.

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Quote from: Ruttoshi on December 05, 2024, 04:01:55 AM

Investing on shitcoins is gambling and that means that you will definitely not be happy with your investment in the long run. Bitcoin investment is the first thing anybody that wants to invest in the cryptospace should invest in, because when you invest and grow your portfolio with DCA in the long term, you will be in profit since bitcoin is still young and the price increases overtime.

You should also see bitcoin from this angle an asset that keeps the value of your money from inflation, because whatever amount of money you are using to buy bitcoin will not be affected by inflation. Instead of saving in the bank for 4 years and above, save those money gradually in bitcoin and enjoy the benefits in the long run.

Not only shitcoins but every investment is like a gambling including Bitcoin itself. The only difference is that in even in real gambling space, there are games with less risk involved and your chances of winning is high but not guaranteed. This same feature applies to Bitcoin and shitcoins. Investing in Bitcoin simply means you're staking your asset on the less risky market and the chances you'll benefit immensely is high but must be aware that every investment involves risk no matter how small.

However, if you invest in shitcoins, there's possibilities for high returns but the chances you'll lose your entire assets value is also possible. Investing in Bitcoin is just like placing a bet on a sure odds even though it doesn't exist in reality.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

You have a point @OP. In as much as we still encourage newbies focusing more on Bitcoin, I think some of them will definitely learn the hard way. Seeing they say is believing, so no matter how we make more emphasis on this, there are some that won't just listen, but will have to learn a lesson for themselves.

The truth is, even if few of these altcoins have been doing well lately, not everyone would still make profits from them. They're are quite different from Bitcoin, which means any wrong approach can leave someone new on a losing side. Personally, I'm too good at holding alts for long term, because of the risk involve, which has made me to avoid it at all cost. So you're right by suggesting that newbies should stick with something less risky like Bitcoin to be on a safer side.

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Quote from: Moreno233 on December 05, 2024, 03:49:53 AM

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Most newbies don’t really have proper knowledge about what crypto is all about, they just hear people talk about it, and they will also want to jump into it. Most of them are always brainwashed by people to invest in different coins, and they are always following them blindly without doing any research, but at the end they do end up losing money. Some of them do pay for signal providers, so any coin recommended, then they will invest, and some do invest based on some influencers they are following on social media.

Also, some newbies know about bitcoin, but they prefer to go for meme coins, which they believe will give them quick money, and if you are looking for quick money in the crypto space, then you are likely going to lose your money, it’s better to invest in bitcoin and have patience, with time, you are going to make your money.

Fiasem20

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Most newbies fail to do their own research,if they do,they will understand that Bitcoin isn't too expensive to buy,when they do their own research they'll understand that one can buy fractions of Bitcoins.Most persons wouldn't focus on purchasing Bitcoin even after explaining in details to them about the darkside of shitcoins,they would always want to learn from the hard way.The only thing I can do is to tell a newbie never to invest their hard earn money on coins that will lose its value in the next 2-3 years,and won't retain it's value again.Newbies are always advised to invest only on Bitcoin because Bitcoin has proven to pump even after several years of price decline,but those worthless coins will dump and never pump again,the major reason why most newbies are overwhelmed on investing in shitcoins is the quick profit.
A guy in my neighborhood was an active shitcoin investor,I told him about pump and dump scheme as a caring neighbor,he ignored the fact and he saw the outcome of shitcoins and right now his into Bitcoin.All I'm trying to say is,most times people shouldn't be forced to do the right things,let them make their own decisions and face the action of their decisions.

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Quote from: nickpap on December 14, 2024, 02:09:55 AM

Altcoins like dogecoin are good as well. I agree that you should not invest in shitcoins as well. But I believe if you invest in the top 10 altcoins right now you're not going to loose your money.

That's not bad advise but check out circa 2017 and backward and see how the market went by that time. There were coins that were part of the top 10 but no longer in there. Maybe it could happen from the ones that are also currently in the top 10. I am not saying that might be out soon but we don't know what the future might do with them. While we see some strong coins that have been consistently staying there but once trend changes and the hype transfers to another crypto, it could kick some of them eventually and will result into a forgotten top 10 coins. So, you can still lose money with them so make sure to take profits and convert that into Bitcoin if you can.

Topic: Newbies focus on buying Bitcoin, ignore the noise about other cryptocurrencies (Read 785 times)