Whatever dumbassery there is in the legacy media, at least it is very clear that they are still talking about Bitcoin.
Certainly not Ethereum, not Vitalik walking zombie deep eye socket man, not BNB, not Solana and not bearded ape asswiped NFTs.
Other "cryptos" are not even worth mentioning here as they are bound to fall off the radar in a few years whichever position they currently enjoy on coinmarketcap.
Most never even regained their previous highs whilst we have seen BTC's new ATHs. At what point is it not clear to people that they are shitcoins?
Just because it is a shitcoin does not mean it has absolutely no use. You can leverage Bitcoin to short shitcoins and make more Bitcoin
. When exiting your position you can figuratively feel the frustration and confusion of shitcoin investors who still have not realized that whenever Bitcoin goes down, shitcoins go down even harder. And shitcoins always go down except during bull markets when they get to ride daddy Bitcoin's coat tails. And if the shitcoiner gets lucky, they own whichever shitcoin is getting pumped on that day(Which totally is not just the devs trying to make their shitcoin look popular, I mean, who would do that?
).
No shit coin should be purchased or traded for.
Mining them at a profit and quickly converting to btc is the only way to deal with shit coins.
Mining is far less risky as you trade for Bitcoin asap.
But technically that is leveraging as well. Lets say you mine the shitcoin. You still have costs to pay, maybe even have to buy new miners. You pay in Bitcoin and mine shitcoins. So you are already invested in shitcoins for a short while and then you trade them in for Bitcoin. This can go tits up as well, if the price of that shitcoin falls down to 0 and you have not sold them yet. Luna showed us how quickly that can happen. I mean, you are still left standing with the costs.
I agree with you on one thing: Shitcoins should be avoided.
I have been golden with Antminer L7 miners.
I sell all the Ltc instantly and ladder sell doge.
I made more doing this then I ever did mining btc.
look at the history of the L7 it is the best profit making miner since Jan 2021 .
My L7 is pure profit since Jan 2022.
So for two years and two months it is paid off and turning profit for 26 months.
I did not buy the L7s with BTC.
In fact I almost never pay for a miner with btc.
I wait patiently for sellers that allow me to use a CC. So basically no money comes out of pocket.
I also leverage ccs with discounts and time to pay.
The last L7s were 4k each on a cc I got 900 rebate and 12 months to pay. plus 1% on the 8k
So 980 in cash back 12 months to pay card. It is paid off and I not only never laid out cash I got cash back.
