Investing in bitcoin is a must that the bitcoiners should do. Having many bitcoins is a must too. We have many ways to have many bitcoins and one of that way is investing in altcoin because we have so many altcoins that can help us have many bitcoins. But to invest in altcoin will not as easy as we can imagine because we need to analyze one by one of the altcoin to find the altcoin and patient to wait for the price increase.
I feel it is hard to earn from satoshi by satoshi, so I decide to select altcoins such as ethereum, bnb, litecoin, and the other altcoins to help me to earn more bitcoin. So far, that works well for me, and I still want to continue because I can have many bitcoins someday.
Topic: Unpopular Opinion: Invest in Alt Coins to Accumulate More Bitcoin - page 2. (Read 269 times)
"Invest" is the wrong word to use here, more like trade because invest suggest longer term and altcoins have no long term potentials however they can get pumped quite nicely in short term which makes trading them (short term) is a good option to make more bitcoin. But also at the same time this pump and dump scheme comes at a great risk to the bitcoins you already have and want to use to trade altcoins to make profit, so you have to have that in mind.
I also disagree with your comparison between "altcoins" and "companies" which you are so cheeky at. To start a company is so much harder and requires a lot more determination than to start an altcoin, specially nowadays that you can literary create a useless token with virtually no cost or effort.
And finally the 3 altcoins you named contain 2 centralized shitcoins: XRP and ETH! And despite what you claimed they have no real world usages.
I also disagree with your comparison between "altcoins" and "companies" which you are so cheeky at. To start a company is so much harder and requires a lot more determination than to start an altcoin, specially nowadays that you can literary create a useless token with virtually no cost or effort.
And finally the 3 altcoins you named contain 2 centralized shitcoins: XRP and ETH! And despite what you claimed they have no real world usages.
It's a shame you missed the entire point of my post, all just to be ignorant & arrogant.
"Invest" is the wrong word to use here, more like trade because invest suggest longer term and altcoins have no long term potentials however they can get pumped quite nicely in short term which makes trading them (short term) is a good option to make more bitcoin. But also at the same time this pump and dump scheme comes at a great risk to the bitcoins you already have and want to use to trade altcoins to make profit, so you have to have that in mind.
I also disagree with your comparison between "altcoins" and "companies" which you are so cheeky at. To start a company is so much harder and requires a lot more determination than to start an altcoin, specially nowadays that you can literary create a useless token with virtually no cost or effort.
And finally the 3 altcoins you named contain 2 centralized shitcoins: XRP and ETH! And despite what you claimed they have no real world usages.
I also disagree with your comparison between "altcoins" and "companies" which you are so cheeky at. To start a company is so much harder and requires a lot more determination than to start an altcoin, specially nowadays that you can literary create a useless token with virtually no cost or effort.
And finally the 3 altcoins you named contain 2 centralized shitcoins: XRP and ETH! And despite what you claimed they have no real world usages.
Back in the glory days of pumps and dumps on altcoins, this is already being done, though somewhat became unpopular today since the practice isn't as much evident today due to the countless regulations put into place to combat it. It works, though in today's situation the results would be pretty meh and it would be harder to execute. Also, it would require you to allocate more time and brain juice for analysis on different markets compared to just one single market which is bitcoin.
It's not worth it to do so, unless you are extremely lucky to buy something dirt cheap and sell on everyone during the coin's ATH.
It's not worth it to do so, unless you are extremely lucky to buy something dirt cheap and sell on everyone during the coin's ATH.
I wouldn't say it's an unpopular opinion at all. Unwise, perhaps, but not unpopular. It's all a question of risk and self-control. It's certainly possible to accumulate more Bitcoin by speculating with alts. But it's likely that a greater number of people lose more than they gain. And the longer you play the game, the more likely the odds you'll eventually lose. Surprisingly few people know how to quit while they're ahead.
Due diligence on its own sadly isn't enough. You can do all the research you want, but markets don't necessarily follow the same logic you're choosing to employ. An altcoin could solve any number of legitimate real-world problems, but it can still tank in a heartbeat under the right (wrong?) conditions.
Always remember: Just because you have a strategy, doesn't mean you aren't gambling.
Due diligence on its own sadly isn't enough. You can do all the research you want, but markets don't necessarily follow the same logic you're choosing to employ. An altcoin could solve any number of legitimate real-world problems, but it can still tank in a heartbeat under the right (wrong?) conditions.
Always remember: Just because you have a strategy, doesn't mean you aren't gambling.
These projects with sound principles are your key to getting that full Bitcoin. If it is not feasible for you to save enough cash to get an amount on your own, this is an incredible option.
No one needs to save enough cash to get a full bitcoin, you do not need to save in fiat at all, DCA is an ideal strategy to build up your Bitcoin stash according to your income rate.but for many of the people I know, obtaining 1 full coin with cash/income alone won't cut it.
You do not need to get one full bitcoin, it's a target people like to talk about, but when investing you work with your available capital using risk management. If Bitcoin goes up 50% every one holding Bitcoin regardless of the fractional amount gets 50% growth in their investment.
If you're like many of the people I know, you have a modest amount of Bitcoin. Let's say somewhere under 1 full Bitcoin. It is many people goals to hold an entire Bitcoin. Something just has a ring to it. If you are lucky, you have accumulated Bitcoin in the double digits. However, for many this goal is not easy to accomplish. It may seem like as Bitcoin goes up as it has, you will never be able to reach that beautiful 1 Bitcoin mark.
As we are all aware, Bitcoin will always be the #1 cryptocurrency for many many reasons that I do not need to repeat. However, I do not believe there is any hurt in investing in other blockchain technologies. We as a society are only scratching the surface of how blockchain tech will improve the daily lives of all of us. If you have looked into what other projects are aiming to accomplish, you would be astounded at the progress they have made. These projects with sound principles are your key to getting that full Bitcoin. If it is not feasible for you to save enough cash to get an amount on your own, this is an incredible option.
Think of your average no-coiner that is investment savvy. They generally have a healthy amount of gold (Bitcoin) to make sure they are maintaining a steady profit as well as providing them a hedge against inflation. Many no-coiner investors buy gold every chance they get, but are they using their regular income to obtain all this gold? Not always. Many of them turn to stocks for instance, to invest in companies (ALT Coins) and make more capital so that they can buy gold (Bitcoin).
This is a VERY sound investing strategy, and some of the same principles can be applied. Ensure that you are doing an adequate amount of research into the companies (ALT Coins) that you are investing in. Make sure they align with your morals, values, and of course profits. There are always companies (ALT Coins) that are looking to make a difference and solve a very real world problem. We should not waste opportunity on something that we believe has potential.
Of course, at the end of the day, this will never be as safe as investing in Bitcoin alone. Investing in Bitcoin alone has a lot of peace-of-mind value to it, but for many of the people I know, obtaining 1 full coin with cash/income alone won't cut it. Believe me, when you believe in a project, you believe in a project. Due Diligence is Key!
There are a few projects that I love (XMR, XRP, ETH), and I will go toe-to-toe with any one of you defending their real-world use. You don't have to agree with me, but it's my way of expanding my increasingly glutenous Bitcoin stack. You can never have enough.
Don't be stupid and invest in the 1000's of trashcoins out there. Find something that aims to solve a real problem. For us crypto investors, Bitcoin is our gold. ALT coins are our stocks.
Go risk it for the biscuit.
As we are all aware, Bitcoin will always be the #1 cryptocurrency for many many reasons that I do not need to repeat. However, I do not believe there is any hurt in investing in other blockchain technologies. We as a society are only scratching the surface of how blockchain tech will improve the daily lives of all of us. If you have looked into what other projects are aiming to accomplish, you would be astounded at the progress they have made. These projects with sound principles are your key to getting that full Bitcoin. If it is not feasible for you to save enough cash to get an amount on your own, this is an incredible option.
Think of your average no-coiner that is investment savvy. They generally have a healthy amount of gold (Bitcoin) to make sure they are maintaining a steady profit as well as providing them a hedge against inflation. Many no-coiner investors buy gold every chance they get, but are they using their regular income to obtain all this gold? Not always. Many of them turn to stocks for instance, to invest in companies (ALT Coins) and make more capital so that they can buy gold (Bitcoin).
This is a VERY sound investing strategy, and some of the same principles can be applied. Ensure that you are doing an adequate amount of research into the companies (ALT Coins) that you are investing in. Make sure they align with your morals, values, and of course profits. There are always companies (ALT Coins) that are looking to make a difference and solve a very real world problem. We should not waste opportunity on something that we believe has potential.
Of course, at the end of the day, this will never be as safe as investing in Bitcoin alone. Investing in Bitcoin alone has a lot of peace-of-mind value to it, but for many of the people I know, obtaining 1 full coin with cash/income alone won't cut it. Believe me, when you believe in a project, you believe in a project. Due Diligence is Key!
There are a few projects that I love (XMR, XRP, ETH), and I will go toe-to-toe with any one of you defending their real-world use. You don't have to agree with me, but it's my way of expanding my increasingly glutenous Bitcoin stack. You can never have enough.
Don't be stupid and invest in the 1000's of trashcoins out there. Find something that aims to solve a real problem. For us crypto investors, Bitcoin is our gold. ALT coins are our stocks.
Go risk it for the biscuit.
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