Why Bitcoin and not any Altcoin? - page 3.

GeorgeJohn

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Quote from: bananaunana on June 25, 2024, 11:18:30 AM

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

My most important Bitcoin argument is PoW because PoW really ensures Bitcoin is safe and can't be attacked very easily, like it is possible for PoS, for example.

from my own understanding and the research towards a cryptocurrency I don't think that there will be any cryptocurrency introduced today or past that will be greater than Bitcoin because I know quite well that the existence of any altcoin today is being extracted from the idea and development of Bitcoin so from initial Bitcoin has been launched and they also be used for some before introduction of what coin project of different varieties so it is believable that Bitcoin is one that give right to other coins and the other coins is under it regulation because there is no coin that we get a domination or rise without Bitcoin getting increased.

lalabotax

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Quote from: red4slash on June 28, 2024, 04:58:36 PM

Well it depends on perception if in the end it is temporary or short-term trading that we want to achieve then most will go to altcoins because indeed they offer increases and decreases in a large enough nominal but in the end things like this also need to be realized that this does not apply to long-term investment issues.

It is not a perception, it is the fact. Sure, altcoins is more suitable for a short term because they are more volatile. They can change the prices massively in a short time. If we choose Bitcoin, the price will increase gradually, not to increase massively in a short time. Bitcoin is the best choice if we want to invest for a long term.

Quote from: red4slash on June 28, 2024, 04:58:36 PM

So that indeed everything has its uniqueness, it's just that still in this case when talking as a whole, it is certain that bitcoin will be far superior to altcoins because after all, saying bitcoin as the king is not just a frill because it is a reality that is supported by the current facts where altcoins are still very dependent and affected by bitcoin so that overall bitcoin is the best but when referring to other parts such as stable problems or referring to quick and short profits but accompanied by greater risk, altcoins can be one of the choices.

Agree. Each coin has its uniqueness because they are created with different purposes. However, Bitcoin is still the most unique coin in crypto because Bitcoin is like to have no competitor. It is true that Bitcoin is the king of crypto coins, Bitcoin is leading all crypto coins for a long time. With its uniqueness, I think there will be other coins to change Bitcoin,

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Quote from: barisbilgili on June 29, 2024, 04:52:22 AM

However, to take advantage quickly in trading, there is no harm in choosing Altcoin because the price movements are also fast, but what you also need to remember is that everything will be worth it with all the possibilities between risk and profit.

That's what most people do these days, they invest small amounts in altcoins to try and take some profit from them because they tend to be more volatile than Bitcoin. This doesn't mean they dislike Bitcoin, some people say that if you like Bitcoin, you can't invest money in altcoins, I don't agree with this because diversification is the best thing. Invest most of your capital in Bitcoin but at least add some altcoins in your portfolio as well for diversification.

It's all about one's research abilities. If you know you can do good research and find out projects that have good potential, they have partnerships with famous projects, collaboration with famous people, the team is good, etc. Such metrics should be used to see if a project can get success or not.

Altcoins are not bad, there are just some that aren't good, you can filter them out.

uswa56

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Quote from: barisbilgili on June 29, 2024, 04:52:22 AM

Quote from: $weetne$$ on June 28, 2024, 03:58:54 PM

That Bitcoin is decentralized and it will be difficult to get another cryptocurrency that will be as decentralized as Bitcoin. Altcoins are mostly centralized and those claiming to be decentralized are not, because their founders still have power over the project but Bitcoin founder has removed himself from the progress of the project. Satoshi made himself anonymous by disappearing allowing Bitcoin to become a project on its own and not require him to be active for the project to continue to survive but for most altcoins, if there founders are no longer interested in the project or does not show up, the project is going to die. Bitcoin is different from altcoins because of the reason behind their creations. Altcoins were created because they want to compete with Bitcoin.

From what we have seen since then, I think it is proof that Bitcoin is much better for saving/investing for the future.
Meanwhile, I think Altcoins are still full of risks in the long term because their support is not as big as Bitcoin.
However, to take advantage quickly in trading, there is no harm in choosing Altcoin because the price movements are also fast, but what you also need to remember is that everything will be worth it with all the possibilities between risk and profit.

Currently, many people have realized that Bitcoin will be very good if we invest it for a long period of time and this will of course be very useful for old age and everyone certainly has their own strategy in collecting Bitcoin for their future which of course they do. according to their abilities.
I agree with you that it would be better to use altcoins to generate profits in the short term, but we must have a good understanding of the types of altcoins to generate profits because the risk of trading altcoins is very large and not everyone will be able to accept losses from trading.

beerlover

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Quote from: Pandu Geddon on June 28, 2024, 02:24:04 AM

people who invest have their own enjoyment. there are those who really like to invest long term in Bitcoin. but there are also those who like to take short-term profits from altcoins.
There are even those who like new altcoins, join the sales and gamble there for profits when the coins start trading.

but I'm sure there are more who will eventually return to Bitcoin investments. I experienced this myself, when I first got bored with Bitcoin price movements which were relatively more stable with little movement. I decided to switch to the top market altcoin. indeed make a profit, but there is anxiety or fear regarding altcoin price fluctuations which tend to be faster. I decided to go back and be more patient with my Bitcoin.

I am one of those people who end up investing into it long term and I like to do DCA, or more like I just like to buy whenever I have some money, not a lot lately but I do whenever I can. So all in all, my "enjoyment" right now is that we are talking about something that is getting a lot better.

We need to remember that it is going to end up with something that will take a while, that seems like the only way to move forward with this. I think the reality is that we can't make it work any other way, and in that situation we are making a big stride in bitcoin investment and not altcoin because that won't work. I have to see that we are dealing with something that would be looking like it is going to be a lot more worse.

BitGoba

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The most important thing about Bitcoin is decentralization. No one can print more money, no one can change the monetary policy, and no one can devalue your money by creating more. In contrast, altcoins are controlled by small groups that can do whatever they want. For example, look at ETH: they have changed their monetary policy seven times. They can always print more ETH for themselves. Just a month ago, they went back into high inflation. This is why Bitcoin is the greatest, because no one can change the rules unilaterally. Altcoins are like companies and have CEOs, like ETH with Vitalik Buterin acting as the CEO, deciding everything. There's this video that made me laugh a lot

My half portfolio is in the hand of this man
https://www.youtube.com/shorts/JfAVcC3gJNQ

barisbilgili

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Quote from: $weetne$$ on June 28, 2024, 03:58:54 PM

That Bitcoin is decentralized and it will be difficult to get another cryptocurrency that will be as decentralized as Bitcoin. Altcoins are mostly centralized and those claiming to be decentralized are not, because their founders still have power over the project but Bitcoin founder has removed himself from the progress of the project. Satoshi made himself anonymous by disappearing allowing Bitcoin to become a project on its own and not require him to be active for the project to continue to survive but for most altcoins, if there founders are no longer interested in the project or does not show up, the project is going to die. Bitcoin is different from altcoins because of the reason behind their creations. Altcoins were created because they want to compete with Bitcoin.

From what we have seen since then, I think it is proof that Bitcoin is much better for saving/investing for the future.
Meanwhile, I think Altcoins are still full of risks in the long term because their support is not as big as Bitcoin.
However, to take advantage quickly in trading, there is no harm in choosing Altcoin because the price movements are also fast, but what you also need to remember is that everything will be worth it with all the possibilities between risk and profit.

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Quote from: bananaunana on June 25, 2024, 11:18:30 AM

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

I know we are pro Bitcoin on the forum, but without sugar coating this Bitcoin vs Altcoins argument...let's state the facts here, we have several Altcoins out there that are better than BTC in terms of faster confirmation times, cheaper mining fees, some coins have a 100% anonymity feature and several other advantages.
What really seperates Bitcoin from the rest is the large community it has, active Dev's, the marketcap and of course being the genesis of Crypto.

Quote from: bananaunana on June 25, 2024, 11:18:30 AM

My most important Bitcoin argument is PoW because PoW really ensures Bitcoin is safe and can't be attacked very easily, like it is possible for PoS, for example.

Getting technical with the proof of work etc, nice .

Iranus

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Quote from: Xcode7 on June 27, 2024, 04:33:22 AM

Quote from: Iranus on June 27, 2024, 03:42:17 AM

But besides those millions of failed altcoin projects, we cannot deny the efforts of altcoins such as ETH, BNB, SOL...They still exist and continue to develop further even though many projects have disappeared from the market over the years. Or meme projects like Doge, shiba, they still exist today and we cannot deny their existence.
If we plan to invest for long term and need privacy then bitcoin is the top choice but if we also want to earn high profits in medium to short term, I think investing in some top altcoins is also not very bad. As for new altcoins, they should be avoided or only for those who are adventurous and willing to take risks.

All investments have possible risks that are worth it with possible profits so I think whatever investment choice you should be aware of the risks and possible profits but it cannot be denied that Bitcoin has provided proof that investing in Bitcin is quite safe for the future so that is what makes many people's trust.
For those who invest long term, there are many aspects that must be considered and of all that, Bitcoin has everything that is better than Altcoin, so I think for long term investment there is no other choice than Bitcoin.

As I also said, bitcoin should be the top choice for long-term investments and I don't even think there is a risk in holding bitcoin long term (personal thoughts). But I also don't think we should ignore potential short- and medium-term investments in altcoins. It cannot be denied that investing in altcoins is more risky but it will also bring us better profits. As you said, as long as we have a chance to get a return commensurate with the risk we take, it's not too bad to trade off or try.

In short, investing in bitcoin or altcoin depends on each person's preferences. Personally, I don't judge who is right or wrong because we are not the same and the end result is the most important thing.

GbitG

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Quote from: bananaunana on June 25, 2024, 11:18:30 AM

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

My most important Bitcoin argument is PoW because PoW really ensures Bitcoin is safe and can't be attacked very easily, like it is possible for PoS, for example.

Hmm, Right!
There are two things that I love the most about Bitcoin, the first one is its decentralized nature. It was the first cryptocurrency created and it was completely decentralized when most altcoins aren't completely decentralized because their creators and developers have complete access to them, they can add or remove in the supply, change the consensus, etc., but when it comes to Bitcoin, it will be this way forever because no one can or will change it.

The second thing is the potential that it has for recovering its price when it loses value which is a quality that most altcoins lack. Even if Bitcoin drops more than 50%, its investors who have enough knowledge about it would know that it is going to recover its price eventually because it will get enough demand for that to happen.

Mr.right85

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Quote from: $weetne$$ on June 28, 2024, 03:58:54 PM

Quote from: bananaunana on June 25, 2024, 11:18:30 AM

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

That Bitcoin is decentralized and it will be difficult to get another cryptocurrency that will be as decentralized as Bitcoin.

I think this is one of the strongest points that have kept me rooted in this currency over the years that i have been an investor for. Coupled with the fact that, it not only stands as the pioneer currency but the creator stands in the shades, doing almost nothing as much as no one knows and the currency through consensus continues to strive in the continual development within its space. I think no other currency have been able to archive that, even with them CEO very visible in the forefront of its development, it ain’t got the kind of qualities Bitcoin have got.

Bitcoin is the one currency that didn’t go through pre-sale but still, it amass for itself popularity and leads on the market.

red4slash

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Quote from: lalabotax on June 28, 2024, 03:19:34 PM

Quote from: kryptqnick on June 28, 2024, 12:27:02 AM

I don't know any altcoins that are better than Bitcoin. The question is, better in what? Are they more decentralized? I don't think so. Are they more reliable in the long run, or more secure due to a strong community and high market capitalization? Not really. Are transactions cheaper and faster? Perhaps they are, so that could be an argument.
Bitcoin is strong, the market cap is huge, it's a PoW currency, and it's been #1 since it appeared. That's why I choose Bitcoin over any other altcoin.

It depends on what matter we view. If we want a more stable price, there are stable coins that are better than Bitcoin. Altcoins prices are mostly more volatile than Bitcoin price. So altcoins is a better choice for trading because the prices can change faster. And don't forget that there are altcoins with cheaper transfer fees. But if we want a more recommended coin and trusted coin, Bitcoin is still the best option. No coin is better than Bitcoin if we want to invest in a coin for a long term investment. Well, Bitcoin is number 1 coin but sometimes altcoins can be better for some matters.

Well it depends on perception if in the end it is temporary or short-term trading that we want to achieve then most will go to altcoins because indeed they offer increases and decreases in a large enough nominal but in the end things like this also need to be realized that this does not apply to long-term investment issues.

So that indeed everything has its uniqueness, it's just that still in this case when talking as a whole, it is certain that bitcoin will be far superior to altcoins because after all, saying bitcoin as the king is not just a frill because it is a reality that is supported by the current facts where altcoins are still very dependent and affected by bitcoin so that overall bitcoin is the best but when referring to other parts such as stable problems or referring to quick and short profits but accompanied by greater risk, altcoins can be one of the choices.

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There are enough reasons why bitcoin is chosen over altcoin one of them being asset safety and the level of risk compared to altcoins is lower. Alcoins are more volatile than bitcoin

Quote from: avikz on June 25, 2024, 12:26:56 PM

To be honest, Bitcoin enjoys first mover advantage. Because we have many altcoins available in the market which are technically more advanced than Bitcoin. But no altcoins was able to move out Bitcoin from the first position.

This is one thing no altcoin can do, bitcoin is more like the leader of other coins because of this first mover advantage it always takes the lead and other coins tend to follow it’s footsteps and it will take alot for any altcoin to out move bitcoin. Although during the bull run some smaller altcoins can outperform bitcoin but due to their higher volatility they tend to lose value more easily putting investors money at risk.

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Quote from: bananaunana on June 25, 2024, 11:18:30 AM

What is your most important pro Bitcoin argument?
We know many Altcoins want to be better compared to Bitcoin but have failed so far
Please share here and also add a short comment why it is your most important Bitcoin argument.

That Bitcoin is decentralized and it will be difficult to get another cryptocurrency that will be as decentralized as Bitcoin. Altcoins are mostly centralized and those claiming to be decentralized are not, because their founders still have power over the project but Bitcoin founder has removed himself from the progress of the project. Satoshi made himself anonymous by disappearing allowing Bitcoin to become a project on its own and not require him to be active for the project to continue to survive but for most altcoins, if there founders are no longer interested in the project or does not show up, the project is going to die. Bitcoin is different from altcoins because of the reason behind their creations. Altcoins were created because they want to compete with Bitcoin.

lalabotax

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Quote from: kryptqnick on June 28, 2024, 12:27:02 AM

I don't know any altcoins that are better than Bitcoin. The question is, better in what? Are they more decentralized? I don't think so. Are they more reliable in the long run, or more secure due to a strong community and high market capitalization? Not really. Are transactions cheaper and faster? Perhaps they are, so that could be an argument.
Bitcoin is strong, the market cap is huge, it's a PoW currency, and it's been #1 since it appeared. That's why I choose Bitcoin over any other altcoin.

It depends on what matter we view. If we want a more stable price, there are stable coins that are better than Bitcoin. Altcoins prices are mostly more volatile than Bitcoin price. So altcoins is a better choice for trading because the prices can change faster. And don't forget that there are altcoins with cheaper transfer fees. But if we want a more recommended coin and trusted coin, Bitcoin is still the best option. No coin is better than Bitcoin if we want to invest in a coin for a long term investment. Well, Bitcoin is number 1 coin but sometimes altcoins can be better for some matters.

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Why Bitcoin and not any Altcoin?

If you are in the look of profit, you will only buy valuable assets rather than buy less profitable assets. Why choose bitcoin? This is because we know that this won't fail our expectations, unlike altcoins which is certainly a factor to consider when investing.

To ask why a lot of investors lose money is because they choose the wrong projects. It is only a fool people buy shitcoins and we know that the majority of altcoins are created for scams. That is why if we want to have a safe investment (at least), though it never guarantees 100% at least bitcoin is worth enough to risk than any coins in the crypto market.

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Quote from: BitGoba on June 28, 2024, 03:09:34 AM

Quote from: Pandu Geddon on June 28, 2024, 02:24:04 AM

Quote from: Z_MBFM on June 28, 2024, 12:48:24 AM

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin.

people who invest have their own enjoyment. there are those who really like to invest long term in Bitcoin. but there are also those who like to take short-term profits from altcoins.
There are even those who like new altcoins, join the sales and gamble there for profits when the coins start trading.

but I'm sure there are more who will eventually return to Bitcoin investments. I experienced this myself, when I first got bored with Bitcoin price movements which were relatively more stable with little movement. I decided to switch to the top market altcoin. indeed make a profit, but there is anxiety or fear regarding altcoin price fluctuations which tend to be faster. I decided to go back and be more patient with my Bitcoin.

There is so much misunderstanding about Bitcoin. Bitcoin is not an investment; Bitcoin is a hard digital form of money. You can't invest in money; money is saved. Investing is a product of the fiat system. If you have fiat money, it loses value day by day due to inflation, forcing you to invest anywhere to try to beat inflation, which can be up to 10% annually. It's very difficult to beat inflation. Investing is gambling. If you use Bitcoin as your primary money, you don't need to invest and gamble because Bitcoin is a hard form of money that will preserve your purchasing power over time.

Actually this should be the first thing people should think that bitcoin is digital money which is their alternative to use for transaction.

But in present times there are to many people came into the scene because they also think that bitcoin is good investment due to its volatility. Then can't blame people to ride with its activity since somehow its good to earn if you could able to ride with current happenings in the market. But what I really like to happen is people should think that if they want to acquire bitcoin they should aim for long term since they are just inserting their self into a risky situation if they aim for short term. Also for sure people know about inflation thing in fiat but majority decide to go with bitcoin as investment since they see a good potential to earn more with this asset compare to other available investments they know.

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Quote from: avikz on June 25, 2024, 12:26:56 PM

To be honest, Bitcoin enjoys first mover advantage. Because we have many altcoins available in the market which are technically more advanced than Bitcoin. But no altcoins was able to move out Bitcoin from the first position.

I believe the biggest strength of Bitcoin is its community. No other coins have such a strong community like Bitcoin. The community is global in nature. If some old coin is able to pull together a community bigger than Bitcoin, will surely over take Bitcoin. But for now, I do not see it happening!

If any coin has not been able to replace it from first position, it does not mean it will not happen in future also.

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Quote from: Pandu Geddon on June 28, 2024, 02:24:04 AM

Quote from: Z_MBFM on June 28, 2024, 12:48:24 AM

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin.

people who invest have their own enjoyment. there are those who really like to invest long term in Bitcoin. but there are also those who like to take short-term profits from altcoins.
There are even those who like new altcoins, join the sales and gamble there for profits when the coins start trading.

but I'm sure there are more who will eventually return to Bitcoin investments. I experienced this myself, when I first got bored with Bitcoin price movements which were relatively more stable with little movement. I decided to switch to the top market altcoin. indeed make a profit, but there is anxiety or fear regarding altcoin price fluctuations which tend to be faster. I decided to go back and be more patient with my Bitcoin.

There is so much misunderstanding about Bitcoin. Bitcoin is not an investment; Bitcoin is a hard digital form of money. You can't invest in money; money is saved. Investing is a product of the fiat system. If you have fiat money, it loses value day by day due to inflation, forcing you to invest anywhere to try to beat inflation, which can be up to 10% annually. It's very difficult to beat inflation. Investing is gambling. If you use Bitcoin as your primary money, you don't need to invest and gamble because Bitcoin is a hard form of money that will preserve your purchasing power over time.

Pandu Geddon

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Quote from: Z_MBFM on June 28, 2024, 12:48:24 AM

Yes it is true that there are many altcoins currently in the market which are technically much better than Bitcoin but people don't trust other coins like Bitcoin and usually don't invest large amounts in them like they do in Bitcoin.

people who invest have their own enjoyment. there are those who really like to invest long term in Bitcoin. but there are also those who like to take short-term profits from altcoins.
There are even those who like new altcoins, join the sales and gamble there for profits when the coins start trading.

but I'm sure there are more who will eventually return to Bitcoin investments. I experienced this myself, when I first got bored with Bitcoin price movements which were relatively more stable with little movement. I decided to switch to the top market altcoin. indeed make a profit, but there is anxiety or fear regarding altcoin price fluctuations which tend to be faster. I decided to go back and be more patient with my Bitcoin.

Topic: Why Bitcoin and not any Altcoin? - page 3. (Read 1060 times)