Question about crypto profit - page 2.

aesma

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Quote from: OgNasty on November 15, 2020, 06:22:05 PM

Why invest in the S&P 500 and maybe get 8% per year when you could invest in penny stocks and make 100x that much?

The answer, penny stocks (like altcoins) are mostly garbage that are likely to lose nearly all value and it's more in line with gambling than actual investing. When you have wealth, investing is as much about protecting your wealth as it is about generating more. There are only so many places you can put large sums of money where it can be considered safe. Even FDIC insurance only goes so far...

Penny stocks are a good analogy, I'll keep it. And just like with penny stocks, I see poor people putting money in altcoins just because 1 unit is cheap. So they can buy several of them, whereas they could only dream of buying 1 BTC.

However after some time they have lost on their investment, while BTC has gone 3 or 4 times the initial price in the same timeframe...

OgNasty

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Why invest in the S&P 500 and maybe get 8% per year when you could invest in penny stocks and make 100x that much?

The answer, penny stocks (like altcoins) are mostly garbage that are likely to lose nearly all value and it's more in line with gambling than actual investing. When you have wealth, investing is as much about protecting your wealth as it is about generating more. There are only so many places you can put large sums of money where it can be considered safe. Even FDIC insurance only goes so far...

Peanutswar

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One factor why most of the people put an investment even there is a pump is they want to join the ATH rocket and fly to the moon again. Profit is profit no matter how much it's it you don't need to have 100%, 70%, or 50% profit on your earnings and some want this even just a small amount of profit. Before an investment, some of the people already know the risk and possible loss of assets so I think they already prepared for that.

One thing too is right now the market graph of the bitcoin is still on uptrend even there are some falls down this is just normal people are selling their coins.

Also, we all know that every time the bitcoin pumps the altcoin dumps this is a common concept and vise versa so are you willing to risk your money? I guess you won't, so why not take a ride too?.

qwertyup23

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Quote from: JohnnySit on November 13, 2020, 06:32:44 AM

Hi there!

I don't get it, why would people would invest in BTC now? current price is $16K but people still invest in it.

even if it reaches imaginary price of $32K people would get just +100% of what they've risked while you can invest in altcoins and MAYBE get easily 10x-100x on your risked amount...

I mean what's your thoughts about it?
What coin do you think will 100x within a year? <3

When I first joined the forum last 2017, the price of one (1) bitcoin was around $4200-$4400 with occasional highs and lows. The reason on why most people invest into bitcoin is due to its high volatility that has the potential for its price to skyrocket. Currently, the price sits at $16,000 and most people believe that its price would again skyrocket in the near future.

Altcoins, on the other hand, do have the potential to be profitable but the risk is too high for someone to invest compared to bitcoin. Lots of shitcoins, fake projects, and exit scams plague the ANN section of this board which contributed to the stigma that altcoins are "scam coins."

Daniel91

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Quote from: JohnnySit on November 13, 2020, 06:32:44 AM

Hi there!

I don't get it, why would people would invest in BTC now? current price is $16K but people still invest in it.

even if it reaches imaginary price of $32K people would get just +100% of what they've risked while you can invest in altcoins and MAYBE get easily 10x-100x on your risked amount...

I mean what's your thoughts about it?
What coin do you think will 100x within a year? <3

I thought so in 2017 too and I was very wrong.
I transferred some of the funds to some "promising" altcoins and when there was a big drop, all those altcoins fell a lot more than bitcoin and never went back to the old price, unlike bitcoin.
Bitcoin has already shown that it has great growth potential and I'm sure it will grow a lot more so it makes sense to invest in it even now.

aesma

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At the end of the day you have a finite amount of money to invest. Let's say you have 1000$ today, then 50$ every month. I wouldn't put 1000$ in Bitcoin right now, because the price has just surged so much. I would probably keep the 1000$ for a better entry point, but buy 50$ of BTC every month (or 40$ BTC, and 10$ some other alts you think have potential).

akirasendo17

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simply because bitcoin has a huge potential, even though there is a risk that it will go down, if you know the price trend every year it still, gaining and others are correct about bitcoin is where it's better to invest, against those altcoins that you are not sure if there is really huge potential, now i think they are aware that there is a chance that they are going to lose some money, but investing is really a big gamble its either you gain or you lose everything, but always remember these word, invest only the money you are willing to lose.

rat03gopoh

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People's confidence in altcoins has declined since the short defi trend which caused a huge loss for most traders and newcomers. Currently, people don't want to take the risk too far and prefer bitcoin as last hope. At any price it's okay to start investing in bitcoin, we can see in the chart that bitcoin in the last few months continues to try to reach ATH.

CryptopreneurBrainboss

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With high reward comes with high risk and not many are willing to take the risk of losing their capital just because a particular aspect of the market has higher potential to give huge profits. The same reason is exactly why many enthusiast don't trade instead they just buy and hold their coins of their choices be it bitcoin or altcoins.

Bitcoin past record also has apart to play in this as it has built trust for itself due to it continues increase in price from over the years but that of altcoins can't be certain. You would make profit but hardly lose if you're willing to hold bitcoin even when the market is unfavorable but that can't be said in altcoins as you can easily get dumped on if you're that invested in holding the tokens.

New project are developed daily so your alts has a higher chances of getting dethroned from whatever technology it was working on and superior project or most hyped become the trend of the day, leaving you in red (lost).

Rengga Jati

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There are two possibilities for the reasons why they are buying BTC right now moreover the supply is high.
First, it is about buying BTC for investment although it is at a high rate right now. This may be influenced by the trust and also the worth of the BTC itself. They have their own consideration and it is about their belief that BTC will have a higher price again at least in the next year. So, many hopes to get a worthy investment of hodl.

The other reason is that they are buying the BTC for certain other profits. Here, we can see the use of daily trading where they will get profits from daily trading. In this case, they buy the BTC and then make profits directly to sell t as a daily trading profit. In futures trading, we can get profits even the price of BTC drops or rise.

goinmerry

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Quote from: JohnnySit on November 13, 2020, 06:32:44 AM

Hi there!

I don't get it, why would people would invest in BTC now? current price is $16K but people still invest in it.

even if it reaches imaginary price of $32K people would get just +100% of what they've risked while you can invest in altcoins and MAYBE get easily 10x-100x on your risked amount...

I mean what's your thoughts about it?
What coin do you think will 100x within a year? <3

If earning 10x to 100x in altcoins is that easy, then we should never see a person struggling to make profits on altcoins. You should also be able to answer your question about what coin can increase 100x within a year.

It's ok. Just sit back and relax and let the buying at the price of $16,000 be managed by those who can afford it. Not your money after all.

After all, if no one buys at that level, BTC will never reach another ATH and I'm sure you don't want that.

aesma

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How many altcoins are created everyday ? How many only last a few months ? There isn't enough time in the world to follow all of this and get a good idea of what might have promise and what will fizzle out. And to be honest at this point even the best concept has all the chances of going nowhere because of the saturation.

If you can get into them freely of for cheap (airdrops etc.) why not, but I wouldn't wait for the price to jump 100x before jumping out.

For myself I find it just takes too much time.

Krislaw

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It's because it's more reliable and first of all cryptocurrencies.
Nothing bad in getting in at this point if your analysis is good. Most altcoins this days are can't be relied on due to many and scam.
Bitcoin dipped to around 3k and people doubted about buying, now it's at 16k, it's never late to buy.

Febo

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Quote from: JohnnySit on November 13, 2020, 06:32:44 AM

I don't get it, why would people would invest in BTC now? current price is $16K but people still invest in it.
even if it reaches imaginary price of $32K people would get just +100% of what they've risked while you can invest in altcoins and MAYBE get easily 10x-100x on your risked amount...

There is no grantee Bitcoin will make x2 and there is no grantee any alt coin will make x10. You should research and see if that coin will be used more 10 years from now. And then buy it. Also dont forget to figure out how to store it safely. It does not matter if a coin went up 10 times if someone steal it from you and you end up with zero. Also always spend only as much as you can afford to lose. What can go up x10 can also go down x10. And usually go down before goes up and opposite. So for your health sake invest as much as you can afford to lose to seep normally when prices go down.

CryptoYar

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Quote from: JohnnySit on November 13, 2020, 06:32:44 AM

What coin do you think will 100x within a year? <3

My friends, this is crypto, before investing in it, we do not know if we will make profit or loss. So no one can tell you from which coin you can make 100x profit in a year. But we can expect a good profit from Bitcoin but still no guarantee of 100x profit. Crypto is unpredictable, it is very difficult to guess any coin's future price. hence do not invest in any project whose team promises you a big profit.

plvbob0070

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Do you really think that it is that easy? Don’t you realize the higher risk associated with altcoins these days? People choose to invest where they can reduce the risk of losing. They find a coin that has the potential to survive in an unpredictable market. Thus, they choose to invest in bitcoin and they can freely do it, as they are responsible for their own money. Considering the numerous scams and altcoins that lose their value, in-depth research is required to determine which coin is worth it and profitable.

erikoy

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FOMO - I think this is one of the reason that people still invest in bitcoin even at higher price. You know that each time bitcoin can go higher because there are many people wanting to own bitcoin. More and more people will going to own bitcoin and the result bitcoin will become expensive over a period of time. Buying now is never a problem unless you just want it to hold for a long time and probably you can see or witness a good market price of bitcoin in the future.

michellee

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People invest in bitcoin because of curiosity from what they read on social media, watching Youtube videos. They curios if the bitcoin price can really increase so high or it just stays at the current price. But the main reason for them to invest in bitcoin is that bitcoin can give them a profit. Many of them learn that bitcoin can be the next revolution in investment, even if the bitcoin price increases.

Many people also invest in altcoin, which has a low price than bitcoin. But they need to have the right altcoin to buy because there are many altcoins which can increase in the future. But every people will have their own reason why they would invest in bitcoin.

Emily Perkins

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Supply of bitcoin is just 21M which makes it scarce and unique, bitcoin is immune to inflation and great store of value. In my opinion people will be buying it no matter if the price is $16k, $32k, $64 etc.
Everything is subjective, you may think it's doesn't make sense to invest in bitcoin with $16k price but what if let's say in a year the price is $160k. People who believe in bitcoin don't care about how much it costs in fiat, 1BTC is still 1BTC

Coin_trader

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Think of it, Bitcoin is the only that pumping it's price now. Its either you want a profit or loss on this current trend. There is no chance to find a x100 coin to a market with a huge BTC dominance percentage. The reason why people still investing on hthis high price is because they are riding the waves and this is easiest and common way to profit on trading rather than buy at lowest price because you can't determine if the price is reallyy the lowest.

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