Topic: Why you should only hold Bitcoin - page 5. (Read 1084 times)
Which coin one should hold, it completely depends on the person itself. Yes holding Bitcoins have many benefits, but a person should do his own research in order to do the investment. If you ask me then yes Bitcoins are the best coins to hold. They have the largest marketcap, they are limited in numbers and their popularity is increasing day by day. So what more a person wants now? Hence Bitcoins are the only option.
If we're talking only about trust, then yes, I totally agree with you. But let's not forget that we also like to money so regarding that, I think there are coins and tokens with more potential growth compared to bitcoin, that already has a very big market cap, so it required a huge amount of money injection in bitcoin to make a 2x or 3x while some altcoins can easily make a 10x.
Some altcoins are more profitable than Bitcoin and their success is huge than Bitcoin but you should also not forget that they are not more trustworthy than Bitcoin therefore people often choose Bitcoin as they don't want to put their money at risk and lose their trust plus money.
Altcoins are many therefore you have to completely concentrate on trustworthy coins and among thousands of altcoins it becomes difficult to choose the right coins therefore choose either Bitcoin or top altcoins which will provide you slower profit but that will be sure.
There is no doubt that certain low price altcoins make you able to give you huge profit but that is not guaranteed always and you have to dive into such risky investment if you want to get huge profit faster.
Most of them are pump and dump then after we see those 1000% up or more which people want to see for sure those huge dumps will follow and those coins will usually get a hard time to recover. That's the risk of acquiring those alts especially if we got FOMO since for sure with that we will became their bag holder. That's why if they want to focus on long term holding then they should never look at those altcoins especially those new since the only thing they can get is to be scammed. If they go directly with bitcoin for sure that there's a good destination with their money and effort spent since bitcoin always prove that good profits are always given to those people who have good patience to invest their bitcoin for many years.
Believe it or not, the existence of altcoins is why this space is crowdy today, many people cares only about altcoins and it favours them, the difference is we can never know how smart and strong the team of a new project is, either its going to fail or survive is hard to know, but still, the future builds are only possible on altcoins right now. Its a fact that I have learned to accept.
I agree with you, I believe that without altcoins, the cryptocurrency industry would not be able to grow big and attract new investors every year. If you conduct a survey of new investors. I believe up to 90% of them entered this market because they were attracted by the x100, x1000 growth of meme projects, shitcoins being created, Bitcoin was never on their radar.
This is true and what is happening, but maximalist bitcoin investors are trying to deny this and they claim that it is bitcoin that attracts new investors, while altcoins are ruining reputation of the cryptocurrency industry.
As of now, my portfolio is over 70% bitcoin but I don't want to lie that investing in altcoins is bad, it's not as bad as many people are saying.
Bitcoin is a community that is supported by trust before anything else, so every new user, regardless of the amount of Satoshi they own, must trust.
This is only partly true. BTC operates on a trustless system, it is open source and anyone can verify everything about it, the users also control their funds, and they can also run their node and verify everything themselves locally. My point is that you do not have to trust anyone to use BTC, it is in centralized networks and custodial services that users need to trust the central authority that is in control. 
Almost all (99.9%+ based on my opinion) of these are coins or tokens that have no purpose, and provide no value. They are centralised, have often unlimited supply or have been pre-mined with distributions allocated to the owners. The only intention of these projects is to make the creators richer, and take value away from everyone else.
Almost 99.9% is no difference to 100%, any mark that tops at 99.9% makes it a pass mark, but anyways, I disagree with this claim of yours because some altcoins have been around for years and they are doing fine till today.
Also altcoins have better returns of investment than Bitcoin, even as much as I like Bitcoin I will never talk bad against ALTs, is the problem the altcoins or the people building them? Because many people just point straight at altcoins forgetting that humans are the ones building the altcoins.
Some will fail, since Bitcoin is just one and altcoins are legions in numbers, the higher the number the higher the possible numbers of failed project, but man, there have been some great one so far, and they deliver what Bitcoin can never do.
Believe it or not, the existence of altcoins is why this space is crowdy today, many people cares only about altcoins and it favours them, the difference is we can never know how smart and strong the team of a new project is, either its going to fail or survive is hard to know, but still, the future builds are only possible on altcoins right now. Its a fact that I have learned to accept.
If we're talking only about trust, then yes, I totally agree with you. But let's not forget that we also like to money so regarding that, I think there are coins and tokens with more potential growth compared to bitcoin, that already has a very big market cap, so it required a huge amount of money injection in bitcoin to make a 2x or 3x while some altcoins can easily make a 10x.
Some altcoins are more profitable than Bitcoin and their success is huge than Bitcoin but you should also not forget that they are not more trustworthy than Bitcoin therefore people often choose Bitcoin as they don't want to put their money at risk and lose their trust plus money.
Altcoins are many therefore you have to completely concentrate on trustworthy coins and among thousands of altcoins it becomes difficult to choose the right coins therefore choose either Bitcoin or top altcoins which will provide you slower profit but that will be sure.
There is no doubt that certain low price altcoins make you able to give you huge profit but that is not guaranteed always and you have to dive into such risky investment if you want to get huge profit faster.
it is the investor's choice to be able to choose which coin he wants to invest in, because whether it is bnb, eth, btc, solana, and other popular coins they both have potential, so a person does not have to just hold bitcoin in their wallet. however, for me personally, my portfolio consists of several coins with the largest share being bitcoin, because i also understand the risk of a decline in the price of bitcoin, so i invest in several coins to minimize potential losses.
According to CoinGecko, there are over 2.5 million cryptocurrencies (read more here: https://www.coingecko.com/research/publications/how-many-cryptocurrencies-are-there).
When I came into this space in January 2017, there were just about 750 of them. I took note of that because it was one of the things I used to gauge the industry then to see how lucrative it could be. I didn't realize it has grown this far already. 2.52 million cryptocurrencies; that's a huge number.Quote
Let's also take BNB as an example. A market capitalisation of $86.74 Billion and ranked as the #4 coin overall. It is developed and owned by a private company, Binance. Their objective primarily is profit for their company.
Take it or leave it, every business exists to enrich itself (through profit making), I ain't talking of the scam ones among them. So, what CZ Binance does with his BNB isn't an abnormality. We can't say Binance, the exchange, hasn't energized this industry through its innovations. It has, of course, and in some ways has created new openings for businesses and projects to flow well.Quote
What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
Well, we can also say ETH is good too. The major thing dragging its growth back is its throat cutting gas fee. 
What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
Do not believe too much about the site that displays a list of coins according to the ranking even though the coin ranking is good even though the coin is still new.Why do I say like that because they can be paid to raise ratings and rankings or other mention can be manipulated.
Because Bitcoin is the only coin that is free from all manipulation. We hold Bitcoin because Bitcoin is a good value asset held in the long run.
Bitcoin currencies that will not be obsolete, others may not necessarily even end with disposal like shitcoin.
Bitcoin is indeed the best for investing in crypto. Although many people invest in altcoins, they should have Bitcoin as their primary investment and continue to try to accumulate more Bitcoin. Altcoins can provide benefits, but we have to find the right altcoin, which is not easy. Altcoins can also be used as investments but are only short- and medium-term investments. Once we profit from some coins, we can sell them at a high price and look for other altcoins. At least, that's what people can use to profit from altcoins while still keeping Bitcoin as their primary investment.
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What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
I would agree that Bitcoin is a long-term investment but we can't just then think that all altcoins are not like Ethereum as I believe it is worth investing long-term together with Bitcoin. Putting 60-70% to Bitcoin and the left is for ETH, I think that is a fair investment plan IMO. It does not mean I have no total trust in Bitcoin but why I do this is because I also believe that ETH is promising and profitable among altcoins. I can't just ignore the chance it has shown and for many years have passed, ETH has still shown impressive performance which is convincing enough. What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
But of course, it is an individual preference and we choose an investment that we think is worthy.
What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
Yes, Bitcoin is the best coin to hold for the long term. If someone wants to invest in cryptocurrency with risk then he should choose Bitcoin first. But if you have enough money then you can invest in some of the top altcoins in the market along with investing in Bitcoin. Currently seen some people who invest in altcoins for more profit, investing in altcoins will give more profit but more risk. Investing in Bitcoin gives low profit but the risk is very low, but in long term investment in Bitcoin can definitely earn you a lot of profit. If you talk about utility, then it is unlikely to find altcoins that are useful, however, they are mainly tools for trading, and buying many of them simply means you are gambling with your funds. Everyone does what they want with their money, and a lot of bitcoiners also buy and store altcoins, but i guess it usually makes up the lesser percentage of their crypto portfolio.
What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
I agree with you, so many altcoins cannot survive for the long term, and if you do not sell it quickly, they will become useless in your wallet. BTC is different because it is useful and there is real-world demand for its use cases.I wholeheartedly agree with your comment about the utility of altcoins. A lot of different altcoins advertise and market how their token or blockchain is different from the rest from a utility perspective, but this is more so that they can appear unique and attract more people to trade and speculate on their price. Trading and speculating is a fools game of gambling effectively. Bitcoin is the only one you can hold long term.
You mention Finite for bitcoin, which is read or represented at most, but is actually 21 million 
bitcoin, like any investment or possession of value, the third-party approach does not matter, which serves very well to guide doubts or discard, because at the end of everything it is your decision.
Bitcoin is a community that is supported by trust before anything else, so every new user, regardless of the amount of Satoshi they own, must trust.
Everything else in the crypto ecosystem can exist or coexist with bitcoin, and people decide what to trust, and then what to invest in, it's that simple.
bitcoin, like any investment or possession of value, the third-party approach does not matter, which serves very well to guide doubts or discard, because at the end of everything it is your decision.
Bitcoin is a community that is supported by trust before anything else, so every new user, regardless of the amount of Satoshi they own, must trust.
Everything else in the crypto ecosystem can exist or coexist with bitcoin, and people decide what to trust, and then what to invest in, it's that simple.
While many altcoins might not pan out, there could be some with genuine use cases that emerge over time. Maybe there's a potential for altcoins to solve specific problems that Bitcoin can't.
I know Bitcoin indeed stands out for its decentralization and finite supply, we can also consider the potential of some altcoins. Yes, many tokens may not live up to their promises, but some projects aim to solve real-world problems and offer innovative solutions beyond what Bitcoin offers. For instance, Ethereum with its smart contract functionality has paved the way for DApps and the rise of DeFi. Similarly, tokens associated with projects focusing on privacy (like Monero), scalability (like Solana), or interoperability (like Polkadot) bring unique value propositions to the table. There might be room for other players to coexist and bring value in different ways.
But of course, holding Bitcoin is still the best approach in the current cryptocurrency landscape, prioritizing quality over quantity when it comes to building a portfolio.
I know Bitcoin indeed stands out for its decentralization and finite supply, we can also consider the potential of some altcoins. Yes, many tokens may not live up to their promises, but some projects aim to solve real-world problems and offer innovative solutions beyond what Bitcoin offers. For instance, Ethereum with its smart contract functionality has paved the way for DApps and the rise of DeFi. Similarly, tokens associated with projects focusing on privacy (like Monero), scalability (like Solana), or interoperability (like Polkadot) bring unique value propositions to the table. There might be room for other players to coexist and bring value in different ways.
But of course, holding Bitcoin is still the best approach in the current cryptocurrency landscape, prioritizing quality over quantity when it comes to building a portfolio.
There is only one truth
if bitcoin if true, then all other coins based on proof of work are false
proof of work = bitcoin, there's no other
What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
Hmm, exactly that's the fact OP!That's why Bitcoin is one of the most remarkable coins in terms of trust. Apart from Bitcoin, we don't consider any coin as trustworthy as Bitcoin because of his strong stance in privacy. All over the world people consider Bitcoin an asset of profit because of its high value as well as its store of value. So, according to my theory, people trust Bitcoin more because its use case is based on a unique concept and also on market capital. And for this reason those who don't have Bitcoin are crazy to take Bitcion, the boredom is rising day by day.
If I remember correctly, ETH was created in 2013 and it is still growing bigger every day until now, the initial investors in it are making huge profits.
Ethereum was conceived in 2013 like a white paper was described and it was later named Etherum at the North American Bitcoin Conference in Miami in January 2014 and the initial network release was made on July 30, 2015, that is, it was officially released in 2015. was to ETH. And now ETH is the most capital-intensive coin below Bitcoin although it is an altcoin.
If "you do not want to hold something which others are primarily speculating on" I don't understand why you're holding Bitcoin because it's actually a highly speculated asset and its current price has nothing to do with its current use and value. You are also wrong when you say it's used for its original intention ie a storage of wealth that is not impacted by inflation. Bitcoin hasn't been designed for that purpose actually, it's just a maximalist narrative trying to find it a new plausible use case. But Satoshi Nakomoto initially designed it for just being a Peer-to-Peer Electronic Cash System, not a store of wealth.
Unfortunately it's currently no longer able to manage to fulfill its mission, as its transaction fees are too expensive and its speed is too slow.
Unfortunately it's currently no longer able to manage to fulfill its mission, as its transaction fees are too expensive and its speed is too slow.
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Abstract. A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.
Currently the only option to invest in and hold over the long term is Bitcoin
If you truly don't want to risk wasting your time and money, then Bitcoin should be the first investment coin to go for in cryptocurrency, some of the newbies make this serious mistake because they were not given the opportunity of knowing this before they went far ahead on making investments on shitcoins they know nothing about, and at the end, the loose their investments and the coins either failed or turned to scam.
What I am ultimately getting at here in the theme of my post is that there is no other coin besides Bitcoin, which you can trust can be held over the long term. What are your thoughts?
Yeah, and that's why you will find that most users here are Bitcoin maximalist.
Maybe you can dwell on some altcoins in the beginning and see that hmm, they give us good profits. But it's not going to be sustainable at least for the long term as majority of them are pump-and-dump. Or least look at the latest hype, Runes, yeah it did affected the market and the mempool was congested.
But after the hype died down, everything is almost normal again and Bitcoin standing at the top of the food chain.
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