Topic: Why buy bitcoins and not altcoins？ (Read 487 times)
Yea BTC is more reliable, even if the market suffers from bear season today it will easily recover tomorrow but not all altcoins are reliable, they might bring better returns but on the long run they easily fade away, BTC will remain the king no matter what
I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.
Find the Altcoin that has 120% year over year gains for a decade, then we can talk....
Heck, we built a crypto site for gambling and then realized "why would people need a token, to gamble?" and realized it's WAY harder to figure out what altcoins people will value/shill over a year than to just find decent gambling sites that don't rob players of their bitcoin
Gambling sites in the "crypto space" are very weird
Most are outright scams, or under staffed. Some try to cater to any crypto currency that exists (why?), some want to run a gambling site AND have token (an operator that also wants their own "currency" is always sketchy). And then there are the few that you can dump some bitcoin in, make a wager and get your bitcoin out really easy....that's all we're really interested in because bitcoin is valuable stuff and alts are so hit and miss...
The question to ask is why do I (and others) see value in this thing, what does it represent, what does it DO?!?! If you can't figure that out, stick with bitcoin
Its no surprise that, people are sure to trust bitcoin more than they do altcoins. Bitcoin is the coin every other altcoin looks to emulate and hope they could be as successful as bitcoin. Having this in mind, it is really difficult for one to think of a coin investment without thinking of bitcoin. Few of the reasons why some users or investors invest in altcoins is because, the price of bitcoin seems to have been far beyond reach and to that effect, altcoins becomes more preferable. They tend to forget that bitcoin has got other denomination like the Sat which could be accumulated until it worths of value.
It depends upon the person what he wants to buy there is no right or wrong option in crypto currency market . It depends on your money and knowledge wheather you should buy bitcoins Or altcoins, both are good in their place. 🙏
I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
hi,But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
Maybe if you had left the OP blank (please in a figurative sense I mean) your question would have validity of ignorance but there is a lot of laziness in your doubt when you say "But is there a kind of data to support this?"
Maybe if you say: I just don't understand it, it stifles more you ignorance and gives strength to your learning.
The answer is very easy: Bitcoin, but you have to read and study the asset you want to put money into, not just bitcoin. That study or perhaps the most frequent thing is to say "that primary information" that one acquires leads to an answer that should depend solely and exclusively on you, your reasoning.
When you get to that point then you reflect and believe or not what you ask in the title of this thread. And that's where you can discuss those qualities of bitcoin that make it a work of art like a Picasso painting, original.
Although I am more bullish on ETH than Bitcoin, it’s just that BTC is more popular and widely used worldwide. Without Bitcoin, there will be no altcoins existed right now. I still regretted the day that I have quickly sold my BTC when it was accumulating between $12k to $16k in early December, until that big pump arrived to as much as $60k+.
In investments my first Goal is to always protect my capital and equity, after which i then start to leverage well and scale up. So in the case of cryptocurrency, i prefer Bitcoin because it is a safer investment compared to altcoins which are more volatile and can pump or dump at any time
Giving it a closer look from different perspectives, we have some genuine reasons why Bitcoin is more preferred to altcoins were stated below
Source link:
https://cointelegraph.com/news/bitcoin-4-big-competitive-advantages-over-altcoins-in-2020
Quote
|Fixed supply, altcoin-beating qualities and a lack of corporate liability all ensure Bitcoin is streets ahead of the rest.
Bitcoin (BTC) easily succeeds over other cryptocurrencies in multiple key areas, which all but guarantee its future as the standard, noted academic Konrad S. Graf has concluded.
In the second installment of a two-part interview with Eurasia Review published Jan. 1, Graf highlighted a plethora of “competitive advantages” inherent to Bitcoin.
Graf has sought to gain exposure for Bitcoin through academic essays, which expand beyond its mechanism of action to situate it within the broader economic system.
Scarcity
Bitcoin wins out over other forms of money — including other cryptocurrencies — largely due to its fixed supply.
“Bitcoin’s top competitive advantage… is its ability (to) restrict new issuance, the relative reliability of its methods for controlling unit production,” Graf summarizes.
Specifically, Bitcoin’s supply cannot be manipulated, nor can its maximum issuance — 21 million units — ever change to dilute it.
No entity, no matter how powerful in terms of computing power active on the network, can diminish the value of the existing BTC held by savers by increasing the supply. This is in direct contrast to cryptocurrencies with a mutable supply, such as Ethereum (ETH) and XRP, as well as all fiat currencies.
Apolitical value transfer
The above characteristic thus makes Bitcoin particularly useful for settlements from anyone to anyone, as a financial protocol immune to the trappings of fiat.
Here, Graf touches on Saifedean Ammous’ popular book, “The Bitcoin Standard,” which extensively examines Bitcoin’s advantages over fiat. Ammous likewise devotes space to how Bitcoin could function as a settlement currency without the need for middlemen.
“Ammous argues that it is in the — for most people quite arcane — field of settlements that Bitcoin could find some of its most competitive applications. It could become not only an in-common non-political money unit, but also a direct competitor to the SWIFT system and any other existing or emerging rivals to it,” Graf explains.
He continues:
“In a world where conventional systems are also politicized, Bitcoin has an advantage of being “neutral” in the sense that it is controlled by none of the competing power blocks, which means that any and all could potentially participate.”
Technical prowess
Against major altcoins, Bitcoin’s technical prowess means its position as a market leader has been obvious for years, says Graf.
As Cointelegraph has also frequently reported, hash rate alone has achieved an order of magnitude better progress than Ethereum or similar market incumbents.
“BTC currently has 97 exahashes protecting its network to BCH’s 2.5 exahashes, giving BTC a hash rate 39 times higher than that of even its next closest digital-cash competitor,” he continues.
Bitcoin network hash rate vs. Bitcoin Cash
Bitcoin network hash rate vs. Bitcoin Cash, Bitcoin SV. Source: Coin.dance
That attribute also differentiates Bitcoin from imitators with very similar characteristics — the principle may be the same, but hash rate distribution, or centralization, and activity on those other networks pale by comparison.
It’s not an entity
On the topic of centralization, a final advantage Bitcoin has over “corporate” blockchains is its lack of weak points political actors can target.
That benefit has become all the more apparent in 2019, the year in which Facebook unveiled and subsequently faced a global backlash over its digital currency protocol, Libra.
CEO Mark Zuckerberg appeared before U.S. lawmakers alone several times, amid criticisms Facebook was attempting to remove government monopolies over the proposed stablecoin currency.
“There is no CEO to summon to Washington for interrogation,” Graf concludes about Bitcoin.
Bitcoin (BTC) easily succeeds over other cryptocurrencies in multiple key areas, which all but guarantee its future as the standard, noted academic Konrad S. Graf has concluded.
In the second installment of a two-part interview with Eurasia Review published Jan. 1, Graf highlighted a plethora of “competitive advantages” inherent to Bitcoin.
Graf has sought to gain exposure for Bitcoin through academic essays, which expand beyond its mechanism of action to situate it within the broader economic system.
Scarcity
Bitcoin wins out over other forms of money — including other cryptocurrencies — largely due to its fixed supply.
“Bitcoin’s top competitive advantage… is its ability (to) restrict new issuance, the relative reliability of its methods for controlling unit production,” Graf summarizes.
Specifically, Bitcoin’s supply cannot be manipulated, nor can its maximum issuance — 21 million units — ever change to dilute it.
No entity, no matter how powerful in terms of computing power active on the network, can diminish the value of the existing BTC held by savers by increasing the supply. This is in direct contrast to cryptocurrencies with a mutable supply, such as Ethereum (ETH) and XRP, as well as all fiat currencies.
Apolitical value transfer
The above characteristic thus makes Bitcoin particularly useful for settlements from anyone to anyone, as a financial protocol immune to the trappings of fiat.
Here, Graf touches on Saifedean Ammous’ popular book, “The Bitcoin Standard,” which extensively examines Bitcoin’s advantages over fiat. Ammous likewise devotes space to how Bitcoin could function as a settlement currency without the need for middlemen.
“Ammous argues that it is in the — for most people quite arcane — field of settlements that Bitcoin could find some of its most competitive applications. It could become not only an in-common non-political money unit, but also a direct competitor to the SWIFT system and any other existing or emerging rivals to it,” Graf explains.
He continues:
“In a world where conventional systems are also politicized, Bitcoin has an advantage of being “neutral” in the sense that it is controlled by none of the competing power blocks, which means that any and all could potentially participate.”
Technical prowess
Against major altcoins, Bitcoin’s technical prowess means its position as a market leader has been obvious for years, says Graf.
As Cointelegraph has also frequently reported, hash rate alone has achieved an order of magnitude better progress than Ethereum or similar market incumbents.
“BTC currently has 97 exahashes protecting its network to BCH’s 2.5 exahashes, giving BTC a hash rate 39 times higher than that of even its next closest digital-cash competitor,” he continues.
Bitcoin network hash rate vs. Bitcoin Cash
Bitcoin network hash rate vs. Bitcoin Cash, Bitcoin SV. Source: Coin.dance
That attribute also differentiates Bitcoin from imitators with very similar characteristics — the principle may be the same, but hash rate distribution, or centralization, and activity on those other networks pale by comparison.
It’s not an entity
On the topic of centralization, a final advantage Bitcoin has over “corporate” blockchains is its lack of weak points political actors can target.
That benefit has become all the more apparent in 2019, the year in which Facebook unveiled and subsequently faced a global backlash over its digital currency protocol, Libra.
CEO Mark Zuckerberg appeared before U.S. lawmakers alone several times, amid criticisms Facebook was attempting to remove government monopolies over the proposed stablecoin currency.
“There is no CEO to summon to Washington for interrogation,” Graf concludes about Bitcoin.
Source link:
https://cointelegraph.com/news/bitcoin-4-big-competitive-advantages-over-altcoins-in-2020
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Like a member already said here, the question in your actual post is kind of hard to understand, if you mind, you might want to consider re-editing to make the question more clearer.
According to the question of the subject, bitcoin is an already made crypto coin which everyone believes and trusts, investing in bitcoin needs no researching as it is with altcoins, big and influential men of the society and institutions have no time to research sevaral altcoins and what they do, this is why bitcoin is their number one choice when they decide to invest in crypto, with bitcoin, only thing one needs to worry about is the volatility, aside this, nothing else, but in altcoins, one worries about volatility, possible scam, possible rug pull, not fulfilling project promises, incompetent team, amateur developers, possible hack etc etc.
According to the question of the subject, bitcoin is an already made crypto coin which everyone believes and trusts, investing in bitcoin needs no researching as it is with altcoins, big and influential men of the society and institutions have no time to research sevaral altcoins and what they do, this is why bitcoin is their number one choice when they decide to invest in crypto, with bitcoin, only thing one needs to worry about is the volatility, aside this, nothing else, but in altcoins, one worries about volatility, possible scam, possible rug pull, not fulfilling project promises, incompetent team, amateur developers, possible hack etc etc.
This is why.
Of course, bitcoin is the most secure and promising cryptocurrency;
It is the most secure, but not the most “promising”; rather, I'd say the least. Satoshi's vision was achieved from the very first day of Bitcoin's implementation. The system worked more than fine and everything detailed in the whitepaper was properly coded. The only thing that left was from people to adopt it. 
Of course, bitcoin is the most secure and promising cryptocurrency; you'll suggest the easiest cryptocurrency to analyze because we can use previous charts and there are many experts who can provide signals on when to buy or sell. In comparison to altcoins and bitcoin, there are many investors in bitcoin and likely a lot of TA that can be seen on various platforms. There are some altcoins that have a high risk but high reward, and they are not recommended for newbies because a simple mistake could result in the loss of your investments.
The simplest answer to your question is, bitcoin is unique and safe. It's the original.
The simplest answer to your question is, bitcoin is unique and safe. It's the original.
Your question sounds confused but I'd buy bitcoin over altcoin if I find myself in a position that I must choose only one out of the two, BTC is far more reliable and makes investors worry less even if bad bear market strikes, it's true that altcoins have higher gains but they always have higher losses too
We all know that bitcoin is one of the largest and known coins already also we know that bitcoin is dependent on the other coins or the altcoins. Also today Bitcoin is one of the good running coins it's already building a reputation but again we know the market volatility of this coin. It depends on you how long you can trust the bitcoin it's all about the mental stability to hold the coins. Some coins become useless coins or shitcoins but the bitcoin is still at the top of all coins.
Bitcoin is a little safer than altcoins because it is a long-term asset and suitable for beginners.
If you are a beginner, it is recommended that you buy Bitcoin instead of altcoins.
If you want to make more profits, you can choose altcoins, but you must understand the project before investing.
Many people will also be interested in altcoins, but many of them are memetic coins. Before investing, think about whether you can take risks.
If you are a beginner, it is recommended that you buy Bitcoin instead of altcoins.
If you want to make more profits, you can choose altcoins, but you must understand the project before investing.
Many people will also be interested in altcoins, but many of them are memetic coins. Before investing, think about whether you can take risks.
There's more than 10 thousand alts and tokens in the market but only one Bitcoin.
Quite a positive argument!Personally, I was having a very difficult time coming across a topic like this which asking why should I buy only bitcoins and not altcoins? But now you have opened my mind! Altcoins are plentiful though some of them are profitable, but they still can't achieve the quality of Bitcoin because it really exists on its own and it is the very first!
I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
There are lots of altcoins present in the market. The reason on why they are called 'altcoins' is because they are alternative coins other than Bitcoin! The problem with most altcoins is that their market value and market cap are larger compared to bitcoin's cap (21 million). In addition, the price of BTC is significantly high that most people prefer to invest on the latter either for short/long-term.
It's like, why invest in silver if there is gold? Though there are cases that investing in silver is better, the general rule is that investing into BTC can either make or break your investment.
I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.
But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
https://stats.buybitcoinworldwide.com/realized-price/But is there a kind of data to support this? Please don’t just experience it----every time Bitcoin falls, there will be a new ATH to explain.
Look at this chart, other sources have a fee for this information.
Bitcoin needs to be bought when its current price is lower than the realized price
"Bitcoin Realized Price (or Realised Price) is the value of all the coins at the price that were bought divided by the amount of BTC that is in circulation, The Market Capitalization is the result of multiplying all the coins that there are by the value of the BTC today ."
https://bgeometrics.com/bitcoin-realized-price/
It is to the date the most representative cryptocurrency with the biggest market capitalization, it is also the crypto-currency with the most mediatic expositure and a serious project with serious people behind.
Of course, this does not mean there are not good alts that can overcome BTC on gains. However, Bitcoin is still a relatively "safe" choice within the market specially whether you are new at this and you are not still good at spotting gem altcoins in a sea of scams and bad projects.
Of course, this does not mean there are not good alts that can overcome BTC on gains. However, Bitcoin is still a relatively "safe" choice within the market specially whether you are new at this and you are not still good at spotting gem altcoins in a sea of scams and bad projects.
No they don't.
You can use a bag of dog poo as a medium of exchange but that doesn't mean the bag of dog poo is offering the same use case as a currency.
You can use a bag of dog poo as a medium of exchange but that doesn't mean the bag of dog poo is offering the same use case as a currency.
That's a pretty reasonable parable to hear. Hopefully people who really like altcoin aren't offended to hear that. LOL
I have to admit that the use case of bitcoin and altcoin as currencies are very different. Maybe I'm wrong to say some altcoin also have good uses as currencies like Ethereum, BNB and some others. But if decentralization and security are the reason, bitcoin should be the most viable major (crypto) currency to adopt.
It is a personal preference when you see someone says to buy bitcoin only, it's his/her choice. Don't need to argue with that as it's really a good option and the best choice that you'll ever follow if you're just new to the crypto space. But as you go on, you will really have to find something else to invest with if you're already contented holding bitcoin. There are a bunch of altcoins and there's already the thought that most of it will fall down a pit and that's why it's safe to invest only in bitcoin. But there are a handful of good alts in my opinion that I'll be holding and based on my experience, I've got profits with those. As a newbie, you'll never go wrong with choosing bitcoin as your only preference but the space is huge and wide but there are a lot of alts that are totally nothing and useless altcoins, count that majority of them are.
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