Topic: The fall of shitcoin/altcoin, the rise of bitcoin (Read 395 times)

Guy e be like say you dey mistake the definition of Bitcoin and shitcoin, before I clear you for that part, I go like make you know wattin shitcoin be. Shitcoin na coin wey be say dem create for the market wey come get small value come go back down, or coin wey since them create am e go gree get value at all, or you fit call all those scam project shitcoins. Many of those meme coins wey go pump until Dem go come start to dey dump until Dem mo get value again, we dey call those type shitcoins. And besides most of those shitcoins Dem volatile pass Bitcoin by far, in fact Bitcoin no even volatile reach some altcoins for the crypto network. If you observe closely when the market dey experience some pump, you go see say while Bitcoin dey like 6%increase some coins dey count 23% and when the market dey dump na so them dey use that same energy wey Dem use take pump take dump.  And coin like that nor dey too last for market before you go know them don turn shitcoin.

More years to come, altcoins no go fit take the place of Bitcoin for the crypto network. Some of them sef go fall after the halving event as the dump in price go take place after the halving some of those coin no go fit again their sef and na so them go just die like that, beside Bitcoin na long term while some of those coins na just for short period , maybe for just 1 month or 3 before them lost for the market. So una wey dey buy altcoin make una dey careful not to go buy shitcoin wey don already dey go down thinking say e go rise up one day.

Just as the name implies "shitcoins" they have no volatility at all as all we experience from this shitcoins is just pump and dump as the people that introduces this shitcoins knows perfectly well that those coins can survive the crypto market where there are more volatile cryptos like Bitcoins that has higher volatility and everyone's interest is mostly on Bitcoin so definitely, as Bitcoin surfaces all other coins tends to fall and vanish in other to make way for Bitcoin to still maintain it's high profile among other cryptocurrencies.

What increases Bitcoin adoption the most is it's sustainability because Bitcoin over the years, has stood out among other cryptos thereby making it future to be guaranteed on like some shitcoins that rises as a result of hype and later on perishes and any investor holding such a coin will definitely run into losses.

Na bitcoin be the Odugwu,nai ehn be the general for the cyptro space.If we dey talk about long term investment nai Bitcoin be the No.1.Currently bitcoin price dey low(dip) but even as that when the price go high e choke all those people wey dey invest on shitcoins.From wetin I dey hear I no sure say I fit invest on shitcoin, because some shitcoin wey dey for the cyptro market don report many scam case,some don even crash e mean say dem no dey exist again.Wetin I fit tell all the investors out there make una choose the right cyptrocurrency(Bitcoin)to invest on,no go follow pipo invest on shitcoin wey na Short term investment u fit end up with loss.Dem say patient dog eat the fattest bone, wetin I dey try talk be say hodl ur coin with patience after now bitcoin go bounce back (Bull run market).

Bitcoin no get many coins inside oh, na only Bitcoin dey there, the value big as e big because of the power of demand and supply, Bitcoin get very low supply just 21 million wey dey like this so imagine all the demand wey e get yet na only 21 millions wey person fit buy unlike all this altcoins wey dey get billions of supply. The more the demand of Bitcoin dey increase the more the price go dey go up and na why Bitcoin better pass all this altcoins as guarantee dey say demand go dey come for Bitcoin side but this altcoins no get guarantee as you fit self no know which one wey people go hype for the upcoming market season so e just better you stay with wetin you know say no matter how e go be, e must rise due to the demand wey the market go get after halving wey dey come up.


I no see all this altcoins as competition to Bitcoin self because their weight no reach na. If na adoption dem no get, Ethereum self wey me I been dey think say go fit challenge Bitcoin for the top spot for adoption and trading volume done go mumu change algorithm and now e dey staking wey just dey give power to those with the highest amount of Ethereum to control the market and centralized the blockchain more. We supposed know say na whales and exchange go get the most power for the staking algorithm as na dem go get the most Ethereum. Altcoins dey compete among demselfs as dem dey find who go come out second to Bitcoin and not having any competition with Bitcoin. Bitcoin just dey him own line and miles ahead of the other cryptocurency dem.

One thing you need to know be say, in life there are bound to be competitions. If there are no competitions, it means say, your product no make sense. Just like Gold Is tested by fire, Bitcoin has been tested, is still being tested, and will continue to be tested by the emergence of many minor coins whose orientation, originality and stability is no where comparable to bitcoin.

Their emergence and  the continuous dominance of bitcoin is enough proof to anyone on which is more superior and has more promising potentials for longevity.  Bitcoin's dominance has continually announced its superiority to other shitcoins and that's the reason why more people are embracing the Lord of cryptocurrency. Its not surprising to me at all that most coins are going extinct cos most  people don't have long term plan for their project, all they want is for people to buy, they cash out and make their way.

 The halving next year will still introduce a lot of low quality coins which will disappear almost immediately from the markets, I saw them last time and I'm expecting the wolves to still prey on uninformed people by next halving.

Bitcoin is very excellent among all this coin, may be because of it's publicity and continues support from people that has been encouraging it existence by making it a mode of payment in their fame or establishment, now come to think of it, how many establishment has ever advertised other coin as their mode of payment, do you know that with this advert alone people that are not interested will begin to put much interest in it, but the truth is I have always thought of this for a long time bitcoin looks like there are many coin in it, because manner at which this coin values, if you add four coins value together they won't still reach its value, though this is my thought.

Me I never any other coins fall oh except Tera Luna and FTT was a token for FTX which was like BNB token. So has FTX collapsed FTT also collapsed because they were one and unseparatable. Apart from these two I have not heard any other one. And by the way FTX was not a coin or a cryptocurrency but it was a Centralized Exchange which supported the FTT. And if any of you want to invest in any altcoins, you have to look well to know if it is a centralized or decentralized. Invest only in a decentralized cryptocurrency blockchain and not the opposite.

Bitcioin adoption dey increase because of it value and no be because of what happened to Luna Terra if na weti happened to Luna Terra nai make people dey adopt bitcoin dem for no adopt am oh because everyone been dey fear.

Shitcoin na decentralized finance way no get regards or value in the program system so any person way go buy am waiting you expect na so ona two go fall yakata.

As for Bitcoin, bitcoin na baba in don dey for the system no be today, in fact na bitcoin be the father of all the coin even investors they invest na say tomorrow no day and na so e dey rise day by day, so na bitcoin hold the market.
This na my own little idea way I learn about bitcoin.

Bitcoin is now at the top thanks to the unique nature and the trust that many people out embedded on it after the first main surge and that has been the success key plus the fact that it's decentralized and not own by anyone make it alot harder to be influenced by the pumper and dumper of crypto. Many of these so called altcoins are actually owned by some big name in the business world and whenever they feel like they can easily dump or pump the coins for their own advantage just like the way Elon musk does to some of his own altcoins.

Another thing is the believe people have come to put on Bitcoin as its can withstand the bear market and the potential that most big firms in the world today see it as a means to generate profits or income massively without stress.

Bitcoin wey dey increase na natural something and no be the action of any other coin dey make am move the way we see am so. Bitcoin has many factors for its widespread adoption so far but none of them dey related to any altcoin or shitcoins. I have only heard how bitcoin have helped in promoting other cryptocurrencies, like helping them to increase their current price in face of the market. Most of the cryptocurrencies wey reach their All Time High na because of bitcoin price action. So I no see anything wey this altcoin or shitcoins go help bitcoin do or achieve from.

All of us that's investing and trading bitcoin are expecting some profits no doubt but what am trying to bring to your understanding is that due to the uncertainty of this coins because of the fluctuations in the market, sometimes the market can turn around and one loses his bitcoins so such things do occur that's why I said we shouldn't think that we will make profits all the time while investing in bitcoin but that shouldn't make us not to invest, we are hopeful that the future will be good regardless of any circumstances that might surround our investment.

Op, some people no go want to leave altcoin o, even though you tell them, they will lose their money in altcoin investment they will still go ahead to invest in altcoin because they think say with a small-dollar investment on altcoin say person can make a big profit. But I thankGod for this kind of bear market wey lasts for a long, e done opened so many people's eyes because most altcoins done die for this bear season and they no fit to recover their price again. Na only person wey no dey do in own research for crypto na in go like invest for altcoin because in no know anything concerning Bitcoin, and in go invest any token wey people tell am to invest on.


One of the things that has increased Bitcoin adoption is many people be think say Bitcoin is a fraud, but when they done see say Bitcoin done stay for years and people who do hodl Bitcoin for investment their lives have changed, and they get no other option but to adopt am. Secondly, people know say if they save their money for Bitcoin nobody will know they get this kind of money unless they tell you, and with Bitcoin, nobody will have access to freeze your money be it in the real world or the crypto world because Bitcoin gives you the full control of your money and no third-party can decide how you will use your Bitcoin. Na all these things dey increase Bitcoin adoption for the world. 

My brother bitcoins na the only Decentralized coins in the crypto space, every other coins(altcoins) is not Decentralized because they are subject to manipulation by the owner of the coin. For instance, I can set up a token on a network, and when I have more people buying the token, I can choose to reduce liquidity gradually to zero as I fill my bank account with the money realise, so you can see that, those token are not actually Decentralized. They are only run on a Decentralized network but not Decentralized.  A token creator can withdraw liquidity from an exchange then leaving the token useless and meaningless

People never still realize like dat because if dem been dun realized altcoins no for dey get any patronage but if you look the altcoins market, investment still dey flow scatter into the projects them. If you look Binance exchange or other exchanges, even inside this bear market wey things still dey crash, you go see say altcoins still dey market profits for some traders or investors. Altcoin Investment na part of the market so we no go fit commot am. As new investor dey enter the market dem go dey think say altcoins better pass Bitcoin as e go fit give them more profits so we go dey see investment inside them steady. Also wait first make bull market reach na when you go see say people never learn their mistakes as na so so altcoins you go dey see everywhere, even the shitcoins dem go return back and people go dey invest.

As for wetin dey increase Bitcoin adopting, na the popularity of the coin, as people dey hear about am, dem dey do research come dey see say the coin get better track record so dem they embrace am. Also the big companies wey dey accept Bitcoin as Paul they also increase the adoption. Former investors wey dun see shege for the altcoins (as dem go fit make you lose every money wey you Invest if you no use your head well) dey also increase the adoption in Bitcoin. The bad economy of the world dey also increase interest in Bitcoin as people dey find wetin dem go fit Invest inside and secure their wealth whereby increasing it too and Bitcoin tick all the box for that area.

Bitcoin adoption increases because it is one of the oldest and first cryptocurrency that is very successful and also upon which other cryptocurrency is able to live. It's the lifeline of cryptocurrency, and so many people know that if there is no Bitcoin today, it will be very difficult for cryptocurrency to do well again. While I was investing in altcoins, I lost my money many times because of failed projects, and that was the reason why I just decided to only be focused on accumulating bitcoin, and I believe this is also a reason why Bitcoin adoption is dominating. Investors know that Bitcoin does not have a pump and dump mechanism like altcoins, which makes them feel more safe.

My brother bitcoin na king it has been tested and trusted and people come see say na original something be this. And the adoption will keep increasing every year. Sometimes watin dey make some people invest in some shitcoins is that they see bitcoin say the price don too dey high for them to invest their $10, $20, $50, or $100. Them dey reason am say if them put that kind money for Bitcoin say them no go make better money from the investment even if bitcoin beat it’s previous ATH. But they come dey imagine say if they had invested in some shitcoins wey come do 100x with that their small capital say them go make am sharp sharp. That’s why you go see people dey invest in some alt coins without doing proper research about that particular alt coin first. Some benefited while majority loss their investments. Investing in some alt coins that has good potentials like ethereum and bnb and others will real life use cases is not bad. But my own is before you invest DYOR. So those that has lost their money over time in shitcoins have now realized that it’s better to have your $10 or $20 where it is safe in bitcoin than losing it in some shitcoins.

I no understand this your part because wetting I dey talk no Even go that side self. But never the less Sha, who dey invest for bitcoin they expect to dey gain no no wetting e dey do. Like as we don't come across many conversations for this forum i think bitcoin investment no be for short time investment or for inpatient people, if you must gain in bitcoin, just put your money comot your mind for there. Just carry am for mind say this money na my life savings of about 10 to 15 years. Definitely you must surely make profit after 2 halving. Except it's a life saving something naim go make you sell am.


The future you dey talk no too dey far as you dey talk am. The future you dey hear naim be this our generation. Person wey Dem born 2008-2009 no be small pikin and those age don dey use bitcoin.

Wether some people like am or not bitcoin has come to stay bitcoin volatility is just a term use to describe the growth maybe uptrend and downtrend. But no mean say naim be the reason for massive adoption rather the market dominance of about %50-60. And market capitalization of about$1.2trillion. so na this factor dey drive the adoption. Emagine out of thousands of altcoins/shitcoin all over there world bitcoin hold %50 dominance while the rest shear%50 how the adoption no go dey massive?

I know doubt you say bitcoin get longevity but that doesn't mean say person no go invest with caution because all these cryptos then never too tay when them enter market so even though say many people don dey invest well well for bitcoin no mean say na all the time wey person go dey gain for bitcoin o, all these coins them just dey like person wey they play gamble because your chances of losing and gaining almost they 50/50. The most thing wey make me like bitcoin more na this direct transaction wey be p2p as person no need third party to dey included before the transaction go work because the kind fraud wey dey for the finance system now require make person dey perform transactions directly with the person wey you wan do transactions with to avoid story wey go touch the heart.


As all of us don see am say na this bitcoin go help us for all these money issues we wey they get and say it fit stand as our future generation currency make e continue to dey dey volatile so that many people go still dey get the mind to they invest for bitcoin then from like that the adoption go come dey massive.

Although this thing wey you talk fit be the reason for Bitcoin adoption too. But wetting me I see say naim dey drive people to bitcoin adoption na the longevity bitcoin get and also na decentralized coin and the blockchain dey very solid.

No body go gree go put in money for something wey no get solid foundation. Bitcoin don stand firm for the market for so long and e don proof to people beyond reasonable doubt say na best coin to invest on. So I think say na these thing naim make people adoption bitcoin wella no body wan put him money for wetting no go profit am.

Anytime Bitcoin makes a move, it will continue in that pattern until it hit a resistance and it couldn't break it, it will stay in that zone for some days before making another move upward or downward. So, in the process of that price distribution, that's when altcoins pick raise. You can see that altcoins were not pumping a lot when bitcoin was moving, so what traders do is that they remove money from bitcoin and start to buy altcoins and that's how you see the coins shooting up especially the ones you mentioned above.

You can see that Blackrock and Ethereum ETF are waiting to be approve from Security exchange commission but nobody knows about the status and many people are speculating that it will eventually be accepted but till now, we have not heard anything. All this are just to bring new hope of people to believe in bitcoin. If you believe bitcoin is the best, but small and if you have some money to spare, try some altcoins like the ones that have never done all time high.