Why Bitcoin is the only crypto you should BUY - page 5.

lixer

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Quote from: ChiBitCTy on January 25, 2024, 08:54:00 PM

I know this is an old thread, but had to jump in to share my two satoshis. I am by far a supporter of bitcoin over all other types of cryptocurrency, but there are a couple others out there that have legit utility as well as upside potential investment wise. I think Monero is the second most legit crypto coin. Truly private transactions is pretty bad ass, though I don't think that's how bitcoin should ever be (number or reasons). Litecoin is nice for quick and cheap transactions. I know Ethereum is centralize and a total shitcoin and what not, but I do still see a sizable bit of upside in that coin.

If we talk about privacy and usage purposes, you are right that there are only a few cryptocurrencies apart from Bitcoin that are private, decentralized, and secure. However, if we see from an investment perspective, there can be many more that one can use for short-term investment purposes to earn a small percentage of profit on every trade.

Talking about Ethereum, it might be centralized, but we can't ignore the fact that thousands of projects in the industry are running on top of Ethereum blockchain which makes it one of the most trusted cryptocurrencies in the industry which makes it a good option for investment. There are many more, a small research and you can find a bunch.

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Quote from: suzanne5223 on January 31, 2024, 11:48:43 AM

This technically means you have zero knowledge of BTC as a whole and there's no point opening your eyes to the real intention of BTC and it not being a meme coin.

Look, I get that my use of the term, "meme coin" triggers people, so I'll stop using it.

I merely meant that Bitcoin's primary value was based on it's brand, which is very plain to see when you compare it to other cryptocurrencies with the exact same technical specifications as Bitcoin and yet have only a tiny fraction of Bitcoin's value.

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Quote from: legiteum on January 30, 2024, 11:59:24 AM

Quote from: suzanne5223 on January 30, 2024, 11:24:04 AM

Quote from: legiteum on January 30, 2024, 10:58:08 AM

Bitcoin is just a meme, and there are a lot of memes out there.

No. From what you said I believe you still need to go and read the major reason behind Bitcoin's creation and the concept used to create it.
Bitcoin is never a copycat of any cryptocurrency, or create based on a joke to serve as a shitcoin.
The foundation of meme coin is created based on jokes, and copies of other crypto concepts backed with some dividend to catch the attention of naive investors.

Quote from: legiteum on January 30, 2024, 10:58:08 AM

Technically speaking, Bitcoin is roughly the same as all of the other cryptocurrencies, and vastly inferior to [snip] .

Technically, Bitcoin is different and it's the only true decentralized crypto we have in the market so far.
Now I understand your purpose make the above statement just to make this shitcoin you posted look superior.

I know the original reasons behind Bitcoin's creation, but nobody uses Bitcoin that way nor will they.

I don't agree with you about knowing the original reason behind Bitcoin's creation. None of the people who know the genuine reason for BTC creation once tagged it as a meme coin just the way you did.
Having said that, I believe you're among the nobody who didn't use BTC the way it is supposed to be used

Quote from: legiteum on January 30, 2024, 11:59:24 AM

Bitcoin is far too slow and expensive to be a viable means of mainstream transactions.

With this statement, you still claim to genuine reason for BTC creation the purpose issue like this was discussed when Satoshi announced BTC to the public. If the transaction is slow and expensive. Why not use alternative means like LN?

Quote from: legiteum on January 30, 2024, 11:59:24 AM

It couldn't handle even 1% of the world's current credit card transactions, let alone multiples of it as you would need to truly make it a replacement for today's worldwide transaction load.

BTC was not created to compete with credit card transactions or to be the world's mainstream payment.

Quote from: legiteum on January 30, 2024, 11:59:24 AM

And if Bitcoin isn't "the future of money", then it's just a meme. There's nothing wrong with that! Bitcoin is a powerful meme with a lot behind it, and lots of people know about the name, so they will invest in it.

And Bitcoin is the only decentralized crypto? So other cryptos like Ethereum and all of the others are "centralized"? Are you sure about that?

This technically means you have zero knowledge of BTC as a whole and there's no point opening your eyes to the real intention of BTC and it not being a meme coin.

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Quote from: HONDACD125 on January 22, 2024, 08:37:20 AM

Bitcoin has less risk than other currencies, but the profit rate here is also lower than other currencies. So people mostly prefer to invest in other currencies instead of Bitcoin. Another reason is that you need a good amount of capital to invest in Bitcoin, because not everyone can afford to buy Bitcoin even at the current price. It can never be denied that Bitcoin is the best investment, but there are factors Where you find it difficult to buy bitcoins

So I think either you should have a good capital or invest in Bitcoin after getting a big profit from investing in other cryptocurrencies. Risk in other coins cannot be ignored, but can be minimized if investment is made after proper research. However, risk exists in every business, but our experience and best strategies help to reduce it, but its reward is also likely to be huge.

You do not have to buy it all, you could buy like 0.01, there is a reason why we invented the denomination called satoshi, so instead of buying 50 bucks worth of alt, go buy bitcoin. Sure it may not give you a huge return, but which one is better, buy some fifty bucks worth of alt that will make it zero, or buy bitcoin and get to 100. Sure, that will not make anyone rich, you are not going to retire off it, but at least it will go up, whereas alt will not, or at least may not.

The big possibility of alts turning out to be scams are the hardest part and we should avoid that as much as we possibly could. I believe that the best thing to do at this case would be just making sure that we are dealing with a problem, that would not be all that obvious.

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Quote from: trendcoin on January 30, 2024, 05:53:53 PM

Bitcoin is a widely adopted currency with a large community. It is also a king that has revolutionized the consensus model and served as a role model for many currencies that followed it. It is a store of value, and as such, it sets the balance and direction of the market. There are many features that distinguish Bitcoin from others, but these are the first ones that come to my mind...

well, I think this topic should be in the Bitcoin discussion section. On the other hand, you said very well, Bitcoin is the king of all the projects/currencies trading in the market and besides all that bitcoin has a good impression on the crypto market because when the price of Bitcoin starts to pump then the price of other projects starts to pumps that use bitcoin network as well as those project also show some positive movement that does not use the bitcoin network

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Bitcoin isn't the only crypto project that's not bullshit, and it's not the only one you should buy, many people see usefulness in other coins like Monero, it has it's useful utility, something Bitcoin isn't made of, and that's privacy, Bitcoin is good at one thing, decentralization and Monero is good at one thing, privacy, there are others that are as good as these two too, like Litecoin.

These coins are now crypto OG projects, they are old and stronger than most new crypto projects, but we can't always stick with the olds, new innovations need to be baked, maybe we will have something better? But for the fact that any one can just build anything in crypto space today is the most scary part, for safetiness it's better to stay with Bitcoin but if you are the type that's looking for something new then you need to put in more work.

You can buy Bitcoin and sleep on it, for many years to come you will meet it where you kept it, but you can't do the same with new projects, that's even if they survive for so long, and also maintain good value too, too much worries and headache here, so yes Bitcoin is just best, and the most reliable digital coin.

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Quote from: moneystery on January 30, 2024, 06:59:17 PM

Quote from: riqo on November 18, 2022, 02:41:32 PM

The way I see it, all bullshit token and coin abandons are done for this one reason; they only have one purpose which I will explain better...
We saw Luna and FTT are made for a reason which is to support those companies themselves, the day these companies drop their token or their currency will drop too.

That's why for me bitcoin is perfection because this previous one is multipurpose and its foundation is to avoid intermediaries there are no companies managing it, we will not be able to match satoshi due to the price drop(thats a clever move for him to stay behind the scenes).

Because we know that satoshi does not depend on a company to reinforce bitcoin.
And with this I finish all the currencies are a scam(meaning that the price can disappear) for me, personally the legit ones they are btc and tether.

What do you think?

i support you, bitcoin is one of the crypto assets that every investor must have, but those who hold bitcoin must have good knowledge of the history of bitcoin so that potential losses can be minimized.

many economists say that diversifying assets into several will reduce the level of losses, but in my opinion, in the crypto market, it is difficult because only a few assets are worth buying, the rest are just trash tokens, most of which make investors lose because their value only rises based on hype, not real use.

Bitcoin support is a discipline, not a hobby. Knowing its history is essential. Knowledge alone isn't enough. It's the application that counts. You mention limiting losses? Exactly. But it's not simply holding - it's understanding. A firm grasp of business, technology, and, yes, hype

You say diversification? Right, risk management knowledge from the past. This is where we differ from traditional economists. Crypto is about deliberate choices, not broad coverage. Most tokens are hype-driven and worthless. But ignoring the market? We need a reality check there. Gems are concealed among rubble. Discrimination, seeing potential beyond the hoopla, is crucial. Always with Bitcoin as the anchor

pinggoki

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Besides all that you've mentioned about other crypto being bad and always being abandoned by their developers, I believe that the biggest reason for why it's always bitcoin as your only investment is because there's trust in bitcoin already and while others are still establishing it, bitcoin's already got one and it's a solid one already plus it's always a guarantee that you'll make money in bitcoin if you hodl long enough.

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Quote from: riqo on November 18, 2022, 02:41:32 PM

The way I see it, all bullshit token and coin abandons are done for this one reason; they only have one purpose which I will explain better...
We saw Luna and FTT are made for a reason which is to support those companies themselves, the day these companies drop their token or their currency will drop too.

That's why for me bitcoin is perfection because this previous one is multipurpose and its foundation is to avoid intermediaries there are no companies managing it, we will not be able to match satoshi due to the price drop(thats a clever move for him to stay behind the scenes).

Because we know that satoshi does not depend on a company to reinforce bitcoin.
And with this I finish all the currencies are a scam(meaning that the price can disappear) for me, personally the legit ones they are btc and tether.

What do you think?

There is nothing wrong with what you said about bitcoin; in fact, bitcoin is proven and tested when it comes to the long-term and even the short-term if you have an idea and know how to trade in crypto.

But for me, it is better to use USDC than Tether as stablecoins, because I also have no other choice when I do a P2P transaction with USDC to our fiat here in my country.

Quote from: FinneysTrueVision on January 31, 2024, 12:00:37 AM

Quote from: legiteum on January 30, 2024, 10:58:08 AM

Bitcoin is just a meme, and there are a lot of memes out there. Technically speaking, Bitcoin is roughly the same as all of the other cryptocurrencies, and vastly inferior to Haypenny currencies which is a digital currency platform that can actually scale to handle the world's daily transactions, e.g. millions of transactions per second and tens of billions per day.

Brands/memes come and go. The "Bitcoin" brand might be hot now and for the next few years, but it can fall by the wayside in the same way other brands have like Jordache and Members Only--or maybe it will endure like Polo or Izod. We'll see.

But one thing is for sure, there will be lots of other brands out there in the future that will become red-hot and they will give investors opportunities for massive gains...

If you think Bitcoin is a meme then you don't understand it and have never tried to understand it. I would never trust a project being shilled by somebody so clueless.

Bitcoin can also scale to handle billions of transactions if you just run it entirely on AWS. Doing that requires more trust and less censorship resistance as well as other tradeoffs that are contrary to its core principles.

Seems like bitcoin is too far from the meme? well whatever your deep base is, I think the understanding in that matter is wrong,
and that is not true.

legiteum

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Quote from: FinneysTrueVision on January 31, 2024, 12:00:37 AM

Quote from: legiteum on January 30, 2024, 10:58:08 AM

Bitcoin is just a meme, and there are a lot of memes out there. Technically speaking, Bitcoin is roughly the same as all of the other cryptocurrencies, and vastly inferior to Haypenny currencies which is a digital currency platform that can actually scale to handle the world's daily transactions, e.g. millions of transactions per second and tens of billions per day.

Brands/memes come and go. The "Bitcoin" brand might be hot now and for the next few years, but it can fall by the wayside in the same way other brands have like Jordache and Members Only--or maybe it will endure like Polo or Izod. We'll see.

But one thing is for sure, there will be lots of other brands out there in the future that will become red-hot and they will give investors opportunities for massive gains...

If you think Bitcoin is a meme then you don't understand it and have never tried to understand it. I would never trust a project being shilled by somebody so clueless.

Bitcoin can also scale to handle billions of transactions if you just run it entirely on AWS. Doing that requires more trust and less censorship resistance as well as other tradeoffs that are contrary to its core principles.

If all you had to do is move Bitcoin to AWS and it would scale to the level of a true currency, don't you think they would have tried that already? It's been over a decade now. It sure seems like this scalability problem would be solved by now if it were actually possible.

Or maybe it's a limitation of the blockchain architecture. But what do I know, I'm just a software architect with over 30 years of experience in mission-critical ultra-high-scale systems...

Fakhrulenclix

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Quote from: trendcoin on January 30, 2024, 05:53:53 PM

Bitcoin is a widely adopted currency with a large community. It is also a king that has revolutionized the consensus model and served as a role model for many currencies that followed it. It is a store of value, and as such, it sets the balance and direction of the market. There are many features that distinguish Bitcoin from others, but these are the first ones that come to my mind...

Besides that, the price has a higher percentage in the future, making Bitcoin a good choice to buy and also store so that you can make a profit in the future.
what happened in the past is a strong enough reason that this will happen again. Bitcoin prices are always able to recover even though deep corrections occur, so I think there is no need to doubt anything.

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Quote from: legiteum on January 30, 2024, 10:58:08 AM

Bitcoin is just a meme, and there are a lot of memes out there. Technically speaking, Bitcoin is roughly the same as all of the other cryptocurrencies, and vastly inferior to Haypenny currencies which is a digital currency platform that can actually scale to handle the world's daily transactions, e.g. millions of transactions per second and tens of billions per day.

Brands/memes come and go. The "Bitcoin" brand might be hot now and for the next few years, but it can fall by the wayside in the same way other brands have like Jordache and Members Only--or maybe it will endure like Polo or Izod. We'll see.

But one thing is for sure, there will be lots of other brands out there in the future that will become red-hot and they will give investors opportunities for massive gains...

If you think Bitcoin is a meme then you don't understand it and have never tried to understand it. I would never trust a project being shilled by somebody so clueless.

Bitcoin can also scale to handle billions of transactions if you just run it entirely on AWS. Doing that requires more trust and less censorship resistance as well as other tradeoffs that are contrary to its core principles.

moneystery

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Quote from: riqo on November 18, 2022, 02:41:32 PM

The way I see it, all bullshit token and coin abandons are done for this one reason; they only have one purpose which I will explain better...
We saw Luna and FTT are made for a reason which is to support those companies themselves, the day these companies drop their token or their currency will drop too.

That's why for me bitcoin is perfection because this previous one is multipurpose and its foundation is to avoid intermediaries there are no companies managing it, we will not be able to match satoshi due to the price drop(thats a clever move for him to stay behind the scenes).

Because we know that satoshi does not depend on a company to reinforce bitcoin.
And with this I finish all the currencies are a scam(meaning that the price can disappear) for me, personally the legit ones they are btc and tether.

What do you think?

i support you, bitcoin is one of the crypto assets that every investor must have, but those who hold bitcoin must have good knowledge of the history of bitcoin so that potential losses can be minimized.

many economists say that diversifying assets into several will reduce the level of losses, but in my opinion, in the crypto market, it is difficult because only a few assets are worth buying, the rest are just trash tokens, most of which make investors lose because their value only rises based on hype, not real use.

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Bitcoin is a widely adopted currency with a large community. It is also a king that has revolutionized the consensus model and served as a role model for many currencies that followed it. It is a store of value, and as such, it sets the balance and direction of the market. There are many features that distinguish Bitcoin from others, but these are the first ones that come to my mind...

legiteum

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Quote from: kawetsriyanto on January 30, 2024, 04:06:46 PM

Quote from: legiteum on January 30, 2024, 11:59:24 AM

I know the original reasons behind Bitcoin's creation, but nobody uses Bitcoin that way nor will they. Bitcoin is far too slow and expensive to be a viable means of mainstream transactions. It couldn't handle even 1% of the world's current credit card transactions, let alone multiples of it as you would need to truly make it a replacement for today's worldwide transaction load.

If you know it, why you said Bitcoin is a meme? Bitcoin was created as digital currency. In some countries, it is already a digital currency, right?
Sure, it needs time to be accepted around the world as a global currency. Accepting it isn't as easy as you think, each country may have a certain consideration. But gradually, Bitcoin will have better adoption as a digital currency to use in varied transaction.

I said that Bitcoin is not used as a currency, and it's not. And no, there is no country in the world where they use Bitcoin as their primary means of transactions, and even the tiniest country on Earth would be a thousand times the transaction volume of what Bitcoin sees today.

There are plenty of countries, including the USA, where Bitcoin is legal to be used as a form of payment, but you can use stock shares, or gold, or cigarettes (like they the do in prisons) in the same way.

Quote from: kawetsriyanto on January 30, 2024, 04:06:46 PM

Quote from: legiteum on January 30, 2024, 11:59:24 AM

And if Bitcoin isn't "the future of money", then it's just a meme. There's nothing wrong with that! Bitcoin is a powerful meme with a lot behind it, and lots of people know about the name, so they will invest in it.

It is not a meme even if it can't be a global currency. Some people already used it as a digital currency. It will be a meme if it can't be used as a digital currency at all at any where in the world. You pointed a wrong coin if you refer to a meme coin. Why don't you mention Doge or SHIB? Undecided

I think of a "currency" as something that can be used for mainstream transactions e.g. to replace what the US dollar or other sovereign currencies do. Bitcoin can't do that.

And you are right, DOGE or SHIB can't do that either. In fact, nothing based on the blockchain architecture can scale to the level of being a real, mainstream currency.

Bitcoin is based on the same general architecture as DOGE and SHIB, the only real difference being that Bitcoin is a more popular brand name (meme, if you will) than those others.

Quote from: kawetsriyanto on January 30, 2024, 04:06:46 PM

Quote from: legiteum on January 30, 2024, 11:59:24 AM

And Bitcoin is the only decentralized crypto? So other cryptos like Ethereum and all of the others are "centralized"? Are you sure about that?

If Bitcoin isn't a decentralized coin, then what Bitcoin is?
Explain it more clearly, mate! Don't just ask a random question. Huh

The poster had said that Bitcoin was the only decentralized cryptocurrency. This is false. I was trying to be nice :-).

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Quote from: wtsimis on January 30, 2024, 11:34:59 AM

When it comes to investing in cryptocurrencies , the first thing you need to know is the history of crypto . Bitcoin is the first cryptocurrency that is known by almost four billion people in the world. Moreover, we have seen that Bitcoin has no founder . Satoshi Nakamoto, the founder of Bitcoin, has long since disappeared. Bitcoin is known as a system governed by a mathematical algorithm. Its universal value and transfer protocol are all managed through a decentralized currency system .
We saw the bull run start with Bitcoin . If Bitcoin can increase in value then all coins increase in value.
So I think you should invest in Bitcoin first before investing in crypto..

Of course Bitcoin is a priority in investing in crypto, because Bitcoin is the king of coins, apart from what you have mentioned, Bitcoin's fundamentals are also very bright in the future and of course Bitcoin is a rare asset. Moreover, the 2024-2025 bullrun is the 4th bullrun in a 4-year pattern. So maybe the increase will be very large.

However, for those who are laymen, don't be quick to make decisions before studying well. Because BTC movements are very significant. But remember, BTC is the parent. When BTC goes up, altcoins usually go up too. What we often understand before deciding which one to buy is understanding the research on the coin we are going to buy. Maintain DYOR and money management.

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Quote from: legiteum on January 30, 2024, 11:59:24 AM

I know the original reasons behind Bitcoin's creation, but nobody uses Bitcoin that way nor will they. Bitcoin is far too slow and expensive to be a viable means of mainstream transactions. It couldn't handle even 1% of the world's current credit card transactions, let alone multiples of it as you would need to truly make it a replacement for today's worldwide transaction load.

If you know it, why you said Bitcoin is a meme? Bitcoin was created as digital currency. In some countries, it is already a digital currency, right?
Sure, it needs time to be accepted around the world as a global currency. Accepting it isn't as easy as you think, each country may have a certain consideration. But gradually, Bitcoin will have better adoption as a digital currency to use in varied transaction.

Quote from: legiteum on January 30, 2024, 11:59:24 AM

And if Bitcoin isn't "the future of money", then it's just a meme. There's nothing wrong with that! Bitcoin is a powerful meme with a lot behind it, and lots of people know about the name, so they will invest in it.

It is not a meme even if it can't be a global currency. Some people already used it as a digital currency. It will be a meme if it can't be used as a digital currency at all at any where in the world. You pointed a wrong coin if you refer to a meme coin. Why don't you mention Doge or SHIB? Undecided

Quote from: legiteum on January 30, 2024, 11:59:24 AM

And Bitcoin is the only decentralized crypto? So other cryptos like Ethereum and all of the others are "centralized"? Are you sure about that?

If Bitcoin isn't a decentralized coin, then what Bitcoin is?
Explain it more clearly, mate! Don't just ask a random question. Huh

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Quote from: riqo on November 18, 2022, 02:41:32 PM

Dear, there are many reasons behind buying or investing only in bitcoin is that it is only the strongest digital currency out there. If we talk about the current scenario Bull run is on the way and is halving is too near where bitcoin can make some price correction which will give buying opportunity to the investors it is saying that bitcoin will reach 170000$ in this bull run because there is many positive news in current time which bullish to investors to buy aggresively. DYOR it has less risk as compared to other altcoins.

legiteum

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Quote from: suzanne5223 on January 30, 2024, 11:24:04 AM

Quote from: legiteum on January 30, 2024, 10:58:08 AM

Bitcoin is just a meme, and there are a lot of memes out there.

No. From what you said I believe you still need to go and read the major reason behind Bitcoin's creation and the concept used to create it.
Bitcoin is never a copycat of any cryptocurrency, or create based on a joke to serve as a shitcoin.
The foundation of meme coin is created based on jokes, and copies of other crypto concepts backed with some dividend to catch the attention of naive investors.

Quote from: legiteum on January 30, 2024, 10:58:08 AM

Technically speaking, Bitcoin is roughly the same as all of the other cryptocurrencies, and vastly inferior to [snip] .

Technically, Bitcoin is different and it's the only true decentralized crypto we have in the market so far.
Now I understand your purpose make the above statement just to make this shitcoin you posted look superior.

I know the original reasons behind Bitcoin's creation, but nobody uses Bitcoin that way nor will they. Bitcoin is far too slow and expensive to be a viable means of mainstream transactions. It couldn't handle even 1% of the world's current credit card transactions, let alone multiples of it as you would need to truly make it a replacement for today's worldwide transaction load.

And if Bitcoin isn't "the future of money", then it's just a meme. There's nothing wrong with that! Bitcoin is a powerful meme with a lot behind it, and lots of people know about the name, so they will invest in it.

And Bitcoin is the only decentralized crypto? So other cryptos like Ethereum and all of the others are "centralized"? Are you sure about that?

wtsimis

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When it comes to investing in cryptocurrencies , the first thing you need to know is the history of crypto . Bitcoin is the first cryptocurrency that is known by almost four billion people in the world. Moreover, we have seen that Bitcoin has no founder . Satoshi Nakamoto, the founder of Bitcoin, has long since disappeared. Bitcoin is known as a system governed by a mathematical algorithm. Its universal value and transfer protocol are all managed through a decentralized currency system .
We saw the bull run start with Bitcoin . If Bitcoin can increase in value then all coins increase in value.
So I think you should invest in Bitcoin first before investing in crypto..

Topic: Why Bitcoin is the only crypto you should BUY - page 5. (Read 2682 times)