Topic: Should altcoins be blamed? - page 4. (Read 837 times)

Yes, we still have some good altcoins in the market that are good for both long-term and short-term base, this is why we can't totally write off altcoins and call them to cheat just because we have a bunch of scam coins around and much more also we must have to sideline or differentiates Bitcoin from all of them all and make it clear on the alternative role of Bitcoin and how altcoins work to support Bitcoin in making a generally friendly cryptocurrency ecosystem.
A beginner should focus on Bitcoin much more than it focuses on altcoins, no matter what the short-term gains of those altcoins may be.

Although there are so many bunch of fake altcoins in the market but that does not mean that all altcoins are bad. We know that there are many cryptocurrencies in the market and investing in them is all about risk. Whatever cryptocurrencies we are trading or we want to invest in, we need to make sure that we don't put our money in crypto projects that has no value or good team that would keep supporting it and keeping it bullish. Cryptocurrency is profitable and if we know how to trade it, we can make good profits.

They should blame themselves not some altcoins or other crypto currencies. They didn't do their "proper" research before investing in altcoins. Most of them that blames bitcoin and other crypto currencies are those that investing in Meme coins or coins that were "hyped". They invested in those pump and dump coins and was actually enjoying the ride. They got greedy, they went all in hoping they can get rich over night. But nope, instead they ended up getting scammed and losing all. And there were others that never knew about the risk/volatility of altcoins, yet they still went all in and "sold" when they shouldn't have. So no, they shouldn't blame the altcoins, but should accept their mistakes.

Shiba is not pow thus it is garbage.

Scrypt = POW it merge mines LTC+DOGE it is the second  biggest POW ALGO it earns 1.3 million per day for mining.

satoshi based all POW on Power makes the value.

If you believe in BTC and POW
You really need to believe on LTC/DOGE and POW

Not more complex than this.

I don't understand your question here it is so confusing, like first you talked about how and what might be the possible reasons for a person to hate BTC, and it might be legal restrictions or loss one person had made in BTC or he might have lost them all and now in frustration don't want to adopt BTC again. And in the last you said, should we blame altcoins because it has made those people hate BTC as they lost their funds in altcoins? What are you talking about?

I think you might want to be right, should we blame alt coin because it made people hate BTC because BTC made them a huge loss while alt did not so they love alt and hate BTC? Or you don't know the difference between alts coins and BTC yet, so you wrote them interchangeably? I don't know what might be the reason but to some level, I can give an answer.

This can't make a person technically hate BTC but in an emotional and general way it can, because hate is a feeling and it can be created by any means that directly impacts the emotions of the person via the heart. Like profit, which makes one joyful, and loss with make him sad, if a person is losing money in BTC it will make him sad and might make him hate BTC while at the same place, the same person making profit in alts then that person might prefer alts over BTC and might love alts over btc that's based on every individual experiences.

Blaming Bitcoin for the failure of altcoin investments or blaming altcoins for the hatred towards Bitcoin is like blaming a fork for a person's poor eating habits. The cryptocurrency market is rife with opportunities, but it also harbors risks. Those who invest without conducting thorough research and due diligence are more susceptible to falling prey to scams, inflated promises, and unrealistic expectations. When these investments fail, it's easy to lash out at Bitcoin, unfairly associating it with their own missteps.

Similarly, blaming altcoins for the animosity towards Bitcoin is equally misguided. Altcoins are distinct projects with their own merits and risks. Lumping them together and attributing Bitcoin's negative perception solely to their existence is an oversimplification that ignores the broader context of cryptocurrency adoption and education.

The responsibility for informed investment decisions lies solely with the individual. The blame for losses or negative perceptions should not be shifted onto technologies or other market participants. Instead, individuals should take ownership of their investment choices and acknowledge the role of their own knowledge, risk assessment, and decision-making in shaping their experiences.

In trading, it is better not to give in to emotions at all.

I think in some way yes, with the way that the crypto market has come to, because if you look at most of the alt coins that are filling the market a bunch of them are just a scam made by opportunistic capatilists that their objective is just to make as much money from it rather than create something useful that solves issues or improve things, and this has been the case for a while now, and yet people still fall into thier trap and you see them investing thier money thinking that they will make a fortune only to be met with disappointment, and this act has given a bad reputation not only to altcoins but to the crypto currency in general, while bitcoin can not be viewed as the same way because of how large and decentrelized the market is making it uneasy to be manipulated.

Doge is also a meme, shiba is also a memecoin and they still exist today and thanks to them many people have become rich. In your opinion, are people who become rich by investing in doge or shiba stupid? In 2023 even though bear season is still raging and leaving many bitcoin investors unable to make significant profits. But in the market there appeared a memecoin project called PEPE and I bet you also know about it, it increased more than 1000 times and helped people make good profits, do you think they are idiots?

Altcoins are risky but that doesn't mean they are all scams. Just because you can't find the hidden gems, others won't either. Bitcoin is the safest investment and no one can deny that, but investing in altcoins is not as bad as you are saying.

For those who don't like to invest in Bitcoin I would say that is their own subject. But I think there is no one who doesn't like Bitcoin. People's interest in Bitcoin is increasing day by day. My personal opinion is that investing in bitcoin is always better than investing in alt coins. I wouldn't say that investing in alt coins can't be done. But comparatively Bitcoin benefits are more available. Investment is done at the pace of one's own decision that one can definitely invest where one wants to invest. But what seems to me is that if we invest in wrong places we will surely suffer losses so we should all invest where we can benefit from investing.

Perhaps, they could blame it for what they think it should, it was their opinion as well. But also, they have to blame themselves together for being too innocent from investing in shitcoins. We can't hold them from doing that because usually scammers use the name Bitcoin, and used known altcoins to trap greedy and no-how people.

We are already aware of such sentiment, someone could be blamed for their losses and it always happens because it was hard for them to accept and take the blame for their mistakes so they point others.

it shouldn't be, where bitcoin stands alone because it has the highest throne, if investors are wise then they will avoid altcoins which will give big losses, let's take the example of meme coins which are coins that make crypto bad in the eyes of the public, because meme coins are coins that rely on fomo and just hype, if the main coin collapses then the meme coins will disappear without a trace, so basically if you want to invest in altcoins you have to do research first for altcoin coins,  that are not in the top 10 CMC or even public

Crypto currency market is a big market, we cannot blame another coin for failure of one coin. While some people have lost by investing in the cryptocurrency market at the wrong time, many people have also made good profits by investing in crypto currency at the right time. We cannot blame the crypto market or Bitcoin instead of correcting our mistake. First of all, before investing in any project, research about that project is very important.

It is human nature to hate a business that makes a loss, but in comparison, many people are making good profits from the same market. However, no coin can be compared to Bitcoin, as Bitcoin is the single most investable and reliable crypto. Instead of hating Bitcoin, we should hate our mistakes.

This is exactly true.

Two examples a guy has 50,000 doge. he purchased them the morning that Musk was going on sat night live.

Paying 60 cents a coin or 30k.

He is still holding and is at 8 cents a coin or 4k basically 26k in the hole.

Or the second guy has  57000 doge purchased at six cents now worth around 8.4 cents.

One guy hate doge the other guy likes doge.


Second comparison
guy 1 grabbed  1 btc at 16 k nov 2022
guy 2 grabbed  1 btc at 69 k nov 2021


guy 1 loves btc
guy 2 hates btc

Mix your doge buy at 60 cents
with you btc buy at 16k


you will think doge fucked me I should have just purchased btc


mix you doge buy at 6 cents
with your btc buy at 69k

you will think btc fucked me.

Weird question. Why don't people blame themselves for poor investments and erroneous analysis of the cryptomarket situation? It's not altcoin's fault that clueless investors lost money. In your words there is a refocusing with the true and depth of the problem, which lies in the people themselves, and not in abstract altcoins.

There is no need to deal with blaming altcoins if losses have occurred in people’s lives associated with investing in this type of asset. You should judiciously analyze your mistakes and draw appropriate conclusions to prevent this from happening again.

People hate bitcoin or crypto in general not because they have suffered losses from altcoins, but because these people have no proper education about bitcoin and the crypto market. And I don't think the altcoins are to be blamed, but it should be the developers of altcoins because they're out to deceive those innocent people who's only aim is to experience high profitability. Although these people are also at fault because they hurriedly invest without doing thorough research and study.

DYOR is the key. There is no reason that we should spread hate to bitcoin or altcoins. But always chose to educate oneself so that future losses will be avoided or at least prevented.

If we make a mistake and it is our fault, we should frankly admit it, that will help us know where we went wrong and find ways to fix it. As for the types of people who never admit they are wrong and like to blame everything, these types of people will never get better. Not only crypto market but any financial market will have scams, fraud... and if we only blame others and everything, we will always be losers in every game. I find admitting mistakes is not too difficult but you are right, many people cannot do that and to me they are failures.

This is my point exactly.these people fail to understand what made them lost instead they attribute blames to same altcoins that some persons used to make profit or Bitcoin which had nothing to do with their loss

They should blame themselves instead of blaming altcoins or Bitcoin. It's essential to know detailed information about where you are investing your money. It's your responsibility to check the tokenomics, the roadmap of a project, and every other possible thing. I am not into altcoin, but as you know, there is nothing better than Bitcoin at this moment.

Altcoins may give you quick profit (Even better than Bitcoin). But you have to pick the right coin, and no one would take the risk to suggest which altcoin to pick. Everyone should do their own research before they invest.

So pretty much you're asking if instead of blaming themselves, people prefer to blame something they decided to purchase? Of course! No one likes to admit that he did something wrong, it's easier to blame someone else or something else, they feel better that way. Admitting that we were wrong is not easy, for many people it's actually impossible.