Topic: Why buy bitcoins and not altcoins？ (Read 537 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
legendary
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Merit: 1083
Leading Crypto Sports Betting & Casino Platform
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.
So for novices, it is recommended to buy Bitcoin rather than altcoins.
One of the important features of any investment instrument is diversification. For the long term investor, it is not advisable to hold only one asset. The reason is simple. If you have too much money invested in a single investment, if that asset loses value, the entire investment will go down.
Because Bitcoin is the king, if there is no Bitcoin, there would be no such altcoins. Of course, I would also buy altcoins.
It's just that Bitcoin is more valuable compared to altcoins, and altcoins need to be short-term, which is not suitable for novices. Novices cannot distinguish between value coins and meme coins in altcoins, and they are easy to lose money in altcoins.
So for novices, it is recommended to buy Bitcoin rather than altcoins.
It's just that Bitcoin is more valuable compared to altcoins, and altcoins need to be short-term, which is not suitable for novices. Novices cannot distinguish between value coins and meme coins in altcoins, and they are easy to lose money in altcoins.
So for novices, it is recommended to buy Bitcoin rather than altcoins.
Altcoin also have the same uses as bitcoin,
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.
Is there a specific reason why this is happening? Is it true that only bitcoin is really good to use as a currency?
There are lots of reasons. For starters two important requirement of a (crypto)currency is security and immutability. A lot of altcoins specially the top 20 don't have these two and a lot of them are too centralized to be used as a viable currency.That only leaves bitcoin and possibly coins such as Monero but due to other issues (eg. scaling or full anonymity) these altcoins remain unused.
Something I didn't see anyone point out is that you have to ask yourself what the utility of the altcoin you want to buy is. In almost all cases the answer is nothing except being pumped and dumped. This means when you buy altcoins you are buying something useless that has a value only because of speculation.
When it comes to bitcoin, it actually has utility in real world. It is the only decentralized currency in existence. So at the end of the day bitcoin is still useful which gives it a lot of value.
When it comes to bitcoin, it actually has utility in real world. It is the only decentralized currency in existence. So at the end of the day bitcoin is still useful which gives it a lot of value.
There is nothing wrong with using all assets to invest in Bitcoin, and there is nothing wrong with not participating in altcoins, depending on personal investment strategies.
In terms of market value, the top ten currencies are all available. Bitcoin's current appreciation space or range is not very large, but the risk is very small, and altcoins are divided into mainstream currencies (such as ETH, EOS, etc.), and I also hold There are some altcoins. Generally speaking, there is no mistake in choosing altcoins.
When choosing altcoins, my principle is to choose the founding team. There are many rubbish coins and scams. I will stay far away.
Something I didn't see anyone point out is that you have to ask yourself what the utility of the altcoin you want to buy is. In almost all cases the answer is nothing except being pumped and dumped. This means when you buy altcoins you are buying something useless that has a value only because of speculation.
Altcoin also have the same uses as bitcoin, but they are much less common than using bitcoin as a means of payment. I agree that most people buy altcoin just to profit through their price volatility so their usefulness as a currency is much lower. Also there are very few real world business or service willing to accept altcoin as a mean of payment, but it is possible that some of the best altcoin are also used more frequently. Actually I feel confused to find the reason why altcoin are much less used as a mean of payment than bitcoin. Is there a specific reason why this is happening? Is it true that only bitcoin is really good to use as a currency?When it comes to bitcoin, it actually has utility in real world. It is the only decentralized currency in existence. So at the end of the day bitcoin is still useful which gives it a lot of value.
Bitcoin will continue to be used as a means of payment as well as a traded asset. Therefore bitcoin will continue to have value and will only become stronger as adoption also grows.
Something I didn't see anyone point out is that you have to ask yourself what the utility of the altcoin you want to buy is. In almost all cases the answer is nothing except being pumped and dumped. This means when you buy altcoins you are buying something useless that has a value only because of speculation.
When it comes to bitcoin, it actually has utility in real world. It is the only decentralized currency in existence. So at the end of the day bitcoin is still useful which gives it a lot of value.
When it comes to bitcoin, it actually has utility in real world. It is the only decentralized currency in existence. So at the end of the day bitcoin is still useful which gives it a lot of value.
legendary
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I have seen a lot of opinions about not buying altcoins and always holding bitcoins before registering.
Firstly you should note that all we say here aren't financial advise and you're responsible for all the financial decisions you make. The thing about altcoins is that, we'll always have more coming into the market and the previous becomes inferior. There was a time privacy coins were the talk of the community. Many invested in this trend and today aren't making as much profit they would have been making if they have just bought bitcoin.
Same thing can be said about others previous trends in the past that newbie rush into investing in hoping to make profits but majority are in loss. Same thing is also happening with meme coins investment now and soon Defi will become something of the past in regards to trend of the market.
Why buy Bitcoin instead of altcoins is because history has proven it's the better investment. Last year Bitcoin fall to around $3k and later rose to $60k+ that's an unrecoverable price action comparing to most altcoins in the market you'll understand why the forum preaches investing in bitcoin instead of altcoins. There's no certainty about altcoins recovering but there's with bitcoin because it's one of a kind. There's no two Bitcoin but we have numerous altcoins and will always have more to choose from. Lastly altcoins are a distraction.
There are lot's of coins currently apart from bitcoin but most people really prefer to invest in bitcoin than any other altcoins because they just believe in bitcoin and they believe bitcoin will never fail them even if it dumps it will definitely rise again not like other altcoins which anything can happen at anytime so Most people really believe in bitcoin than altcoins because altcoins can dump and will never pump again.
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There is data that supports it below you, OP. Adding it up, many of the altcoins are just gonna end up a shitcoin that is why many just prefer you buying Bitcoin over alts. Most of the solution are already provided by Bitcoin so why bother buying other coins? Other still buy Ethereum for Smart Contracts which somehow differentiates it to Bitcoin.
For starters i think buying Bitcoin is a no brainer. BTC has the largest market share of all the cryptocurrencies on the coinmarketcap and has top secured blockchain. Also Bitcoin value keeps increasing and while it may not see huge amounts in ROI as compared to other altcoins, Bitcoin represents a much safer investment than a lot of altcoins
Look at the charts that Bitcoin and altcoins have and plot it from today on how much you would have earned if you invested 6 months ago $100. Bitcoin will be the most profitable when compared to any altcoin and by some margin I would say you could combine most of the popular altcoins and Bitcoin would still win. There is data on it and its indisputable that Bitcoin is the better investment if you are holding.
it all depends on your choice because it is your money...
my portfolio is 50% bitcoin and the rest is matic, bnb, ethereum and some altcoins. you don't have to burden yourself with having to hold 100% bitcoin because it's possible that you can make more profit on other crypto coins.
my portfolio is 50% bitcoin and the rest is matic, bnb, ethereum and some altcoins. you don't have to burden yourself with having to hold 100% bitcoin because it's possible that you can make more profit on other crypto coins.
In cryptocurrencies investment, i think a beginner should think to Start an investment with bitcoin instead of altcoins, because bitcoin is well known and well pronounced than some of the alternative coins, BTC can only depreciates in value if invest on it and later it will rise, so it's obvious that bitcoin doesn't die off like some altcoins, their is some altcoins you will purchase today and interval of two years it will never comeup, but ethereum is in some extent having a significant value or similar values to bitcoin movement.
Altcoins are copies of Bitcoin created by way smaller teams of developers and with people with less experience. They usually try to put some sort of twist in their coin to make it stand out, which often compromises the security of the network. These coins also can only get a tiny fraction of Bitcoin's security, and there are many documented successful 51% attacks against altcoins. And most importantly, many-many altcoins are created with the sole goal of dumping the premined coins and abandoning the projects sooner or later.
Indeed 
, holding BTC is just way better and that's what many altcoins depends on, if bTC revaluate other coins will be happy too and BTC is the most popular coin of all, though it's advisable to buy few altcoins too because altcoins ROI can be massive compare to BTC
, holding BTC is just way better and that's what many altcoins depends on, if bTC revaluate other coins will be happy too and BTC is the most popular coin of all, though it's advisable to buy few altcoins too because altcoins ROI can be massive compare to BTC 
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.
Go for any coin you like but bitcoin has the highest security and also the most decentralized, all other cryptocurrencies are not decentralized like bitcoin. You can invest on any coin but I prefer bitcoin, my 70% portfolio is bitcoin while 30% on altcoins. It is working good for me and I like it like that, it will be good to do what work best for you. 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.
Bitcoin is the safer path if you want to earn money because it has a good developer team and was created for a purpose. Altcoins you can never be sure if they are a scam or not and if their developers will not just run away once they have earned their money. Bitcoin was created out of passion altcoins are made to profit off Bitcoin. There are only a couple of altcoins which have contributed to the progression of cryptocurrencies and these are Ethereum, Ripple and Monero all other coins are not worth it and are only popular because they are good at generating hype but after that hype falls they dump their coins. Bitcoin has a proven record of 10+ years of being developed and supported by many companies and people it is the birth of cryptocurrencies that we know today and will remain for as long as its the best project which it is by a long shot. Most altcoins are copying the code from Bitcoin and are just changing parameteres around and claiming to be a whole new altcoin.
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.
You are always free to choose between the two actually and it is for you to decide also if you are going to believe on that data you may saw in the future. For me, investment both in altcoin and bitcoin can both be deemed profitable. It is by your choice of altcoin and your timing in bitcoin that would define the income you get from it. Buy low on bitcoin and sell high, likewise with altcoins. It may even be considered a smart move to diversify your investment as long as you are able to choose a good coin aside from bitcoin. Just be smart and wise upon picking which altcoin you are going to invest in. 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.
I have seen a lot of opinions about not buying altcoins and always holding bitcoins
Those who have more experience can recommend altcoins depending on the market cycle but I don't expect newbies to understand that immediately so "buying bitcoin" is the most responsible thing to say.Honestly I have more alts holding than btc I only have very little amount of btc in my wallet because of its really high value
It's all in the mind. Do you really have to hold 1 BTC? Why not think of it in satoshis? Do you believe holding 1 ADA will be the same as holding 1 BTC in the future? Having 1000 ADA today may just be the equivalent of 10K satoshis a few years from now for all we know.
Whatever you hear isn't a financial advise. Crypto market is well known for it's volatility. Imo Bitcoin is more stable than alts this is this why Bitcoin remains the favorite asset for holders. Alts are good for short term gains for traders. When there is a Bear market, bitcoin may fall 20% and alts would do x50% or more.
Btw I think this topic is more suitable for altcoins discussions
Btw I think this topic is more suitable for altcoins discussions
Honestly I have more alts holding than btc I only have very little amount of btc in my wallet because of its really high value I think its better to speculate more in promising alts like ADA, DOT,ETH than to buy bitcoin now but in the long term I strongly trust in btc its more safer than holding alts but taking risk is not bad at all.
Then I use my experience to answer your question.
I have known Bitcoin for three years. I started holding Bitcoin at 30K USDT and was still buying it until 70K. My average cost is 55K.
If I have been holding it until now, the maximum return should be 10 times. But I haven't held it until now. I replaced part of it with altcoins, and altcoin has never risen back after falling.
No matter how much Bitcoin falls, it will rise back over time. Altcoins are very likely to return to zero. Of course, there are also more increases than Bitcoin, and within a short period of time. The question is, can you buy 1 out of tens of thousands?On the contrary, Bitcoin is 100%.
I have known Bitcoin for three years. I started holding Bitcoin at 30K USDT and was still buying it until 70K. My average cost is 55K.
If I have been holding it until now, the maximum return should be 10 times. But I haven't held it until now. I replaced part of it with altcoins, and altcoin has never risen back after falling.
No matter how much Bitcoin falls, it will rise back over time. Altcoins are very likely to return to zero. Of course, there are also more increases than Bitcoin, and within a short period of time. The question is, can you buy 1 out of tens of thousands?On the contrary, Bitcoin is 100%.
Second reason: someone has $100-500 capital, if they want to buy Bitcoin, not now, in 2010 it might be suitable, for that Altcoin is one of the solutions expecting miracles, for example: BTT, Doge at that time.
Led by this common misconception, first time I entered crypto world I bought altcoins instead of bitcoin. So, back in the late 2013 I decided to spend several hundreds of $ on crypto, and since I couldn't afford one whole BTC and thinking it's way too expensive, I bought bunch of shitcoins which of course proved to be a major mistake. Point is, no matter how much money you have, if you are newbie, you should 100% of the time stick to BTC as all you have to do is hodl and nothing else, while in order to profit from alts you really have to know some stuff, and even then you have to have shit load of luck not to not end up with having less than you would of you just bought BTC.
@OP Wanna sleep better, be more relaxed and still outperform alts in the long run? Get BTC, as simple as that.
MarketCap
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.
This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.
https://coinmarketcap.com/charts/
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.
This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.
https://coinmarketcap.com/charts/
It is also worth nothing that while the ratio of Bitcoin vs altcoin market cap is currently roughly the same as late 2017/2018 there's currently more than 7 times as many cryptocurrencies listed than just 4 years ago (11,156 as of today vs 1,514 in December 2017 [1]). This means on average alts performed only 1/7th as well as Bitcoin.
[1] https://web.archive.org/web/20171204031615/https://coinmarketcap.com/
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.
Not all are interested in Bitcoin, some are interested in Altcoins.Everyone knows the price of Bitcoin is expensive, if someone has a lot of capital, maybe they are very interested in Bitcoin, maybe not interested in Altcoins.
There are two modes that can be interpreted in the meaning of your topic title.
1. High capital.
2. Low capital.
In this situation, for example:
Reason one: someone has capital say 2 Bitcoins, in one week they can make a profit of $ 8k to $ 10k, This kind of person is not tempted by Altcoins.
Second reason: someone has $100-500 capital, if they want to buy Bitcoin, not now, in 2010 it might be suitable, for that Altcoin is one of the solutions expecting miracles, for example: BTT, Doge at that time.
Conclusion: it depends on the capital they have, to decide to trade and invest in Bitcoin or Altcoin.
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.
I can show you some data.
MarketCap
Bitcoin accounts today for 48.4% of the total cryptocurrency market capitalization.
This means that investors all around the globe consider that all altcoins combined are worth nearly the same as bitcoin.
https://coinmarketcap.com/charts/
Oldest and most tested cryptocurrency
Bitcoin is the oldest and most tested cryptocurrency out there. BTC is around since 2009, and etheruem only since 2016 (half bitcoin age)
Price correlation
All altcoins have a strong correlation with bitcoin price. If bitcoin price goes down, it is almost certain that all other altcoins will go down as well (usually more than bitcoin). When bitcoin goes up, some altcoisn goes up as well (some don't), with extra volatility.
So you are not really diversifying when buying altcoins, you are just adding more volatility.
Look, they all have the same chart.
https://blog.liquid.com/what-is-market-cap-in-cryptocurrency
There's more than 10 thousand alts and tokens in the market but only one Bitcoin. Sure, you might pick the outperforming unicorn but the odds are not in your favour. For every coin that performs well there's literally thousands that never fully recover after the bull market ends and there's a lot of survivorship bias. The top 10 now look very different from the top 10 during the bull run before or even the years prior to that. Just check the charts.
Wouldn't be a bad idea to start investing in alts alongside, but Bitcoin is the best bet for newbies. And when I say newbies, I mean those who've been in the space for only a few years.
As mk4 said, most people get to invest in another alt based on what their subreddits or Telegram channels say. If the subs are highly FOMO'ed, they're going to invest forgetting (or ignoring) the fact that these subs are shilled by members and hodlers of the coin itself, their motive being quite obvious.
Altcoin investing requires lots of research. And contrary to what most users believe, "research" doesn't mean surfing Reddit and Telegram channels to find out what the majority says. It's very weird to me how the average Joe would rather put their life savings in a highly shilled shitcoin than investing in what always proves to work over the long term, such as Bitcoin.
As mk4 said, most people get to invest in another alt based on what their subreddits or Telegram channels say. If the subs are highly FOMO'ed, they're going to invest forgetting (or ignoring) the fact that these subs are shilled by members and hodlers of the coin itself, their motive being quite obvious.
Altcoin investing requires lots of research. And contrary to what most users believe, "research" doesn't mean surfing Reddit and Telegram channels to find out what the majority says. It's very weird to me how the average Joe would rather put their life savings in a highly shilled shitcoin than investing in what always proves to work over the long term, such as Bitcoin.
I really don't understand what you're trying to say in this part 👇 so I'm just going to answer your topic title.
So, why bitcoin and not alts? Simply because bitcoin is the "safest" asset to invest in in the cryptocurrency space, simply because not everyone has the knowledge and patience to properly pick out which altcoins could perform really well in the short/mid/long term. All a lot of people do is just check out which coins/tokens gets shilled out on Reddit and social media and invest in that coin/token despite having no idea on how the project works. Ending up with them being burned in the end.
Just check out the altcoin/bitcoin trading pairs on most coins. Most of them(like a huge majority) has lost a lot of value against bitcoin in the long term.
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.
So, why bitcoin and not alts? Simply because bitcoin is the "safest" asset to invest in in the cryptocurrency space, simply because not everyone has the knowledge and patience to properly pick out which altcoins could perform really well in the short/mid/long term. All a lot of people do is just check out which coins/tokens gets shilled out on Reddit and social media and invest in that coin/token despite having no idea on how the project works. Ending up with them being burned in the end.
Just check out the altcoin/bitcoin trading pairs on most coins. Most of them(like a huge majority) has lost a lot of value against bitcoin in the long term.
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.
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