Why you should only hold Bitcoin - page 9.

tread93

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Quote from: MusaMohamed on April 27, 2024, 07:37:38 AM

Quote from: SickDayIn on April 27, 2024, 07:21:02 AM

According to CoinGecko, there are over 2.5 million cryptocurrencies (read more here: https://www.coingecko.com/research/publications/how-many-cryptocurrencies-are-there).

You can read more information for

How many cryptocurrencies failed, dead?
How many Bitcoin forks are dead?

Then you will see more risk from altcoins (Bitcoin forks are altcoins too) and make your investment decisions more carefully and have more fear about altcoins, then avoid altcoins for your portfolio in long term.

Dead Coins: Over 50% of Cryptocurrencies Have Failed
How many Bitcoin forks are there?

Over 50% is huge turnover, people are always wanting to make a buck. Some people also have the knack for it, its harder to trade the shitcoins and make a profit, but people do it every day. You just have to know how to do it correctly, I for one do not unfortunately. I wish I knew how to do it tho, i'm still searching and researching how to achieve this correctly. There are over 100+ ways to skin a cat! The same applies here.

Ryu_Ar1

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Quote from: pawanjain on May 02, 2024, 10:45:26 AM

That's the reason why I have explicitly mentioned "promising altcoins" and not just any random shitcoins.
I know there are thousands of shitcoins out there but I am not talking about any of them.
There are promising altcoins out there like ETH which should be a part of our portfolio for diversification.
But yes, I do agree with you on the point that our portfolio size should be big enough with bitcoin before we look into diversification.

There is actually no mistake if you want to do in some places like altcoins that have potential in your opinion but when talking about this of course we must realize that in the end there must be a situation where we prioritize something and bitcoin is the right thing .

A lot of people would say that verification is important but at the end of the day when it comes to convenience then definitely when comparing bitcoin and altcoins then bitcoin is the safest place from risk .
Not that bitcoin has no risk because it still has risk, it's just that when looking at altcoins even though it is a promising one but the risk is definitely much greater when compared to bitcoin .

Kristiyana

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Quote from: Y3shot on May 04, 2024, 02:04:11 PM

Quote from: Gaza13 on May 02, 2024, 11:26:07 AM

Quote from: Negotiation on May 02, 2024, 07:17:49 AM

Bitcoin is always considered to be the best currency among all crypto coins. Even if the price of this currency decreases it skyrockets over time. Other coins are not so reliable and have little chance of going up if the price goes down. Most of the currencies in crypto go up depending on the price of bitcoin. Compared to that bitcoin is strong currency and everyone's first choice for investment. Investing in bitcoin can be profitable. The price of bitcoins rises dramatically in a short period of time. Investments in bitcoin are less likely to shrink.

Yes, I agree with this, Bitcoin is indeed the king of all coins. It is true that if bitcoin is on the rise, of course alt coins will influence the price. For the best investment right now, Bitcoin is the right choice. I think the possibility will always be there for altcoins to reach new heights. Choose alts with strong fundamentals such as eth, bnb and solana, don't choose alts that are just being born, this will make you lose a lot of money there.

I have been observing the market. When bitcoin falls to $59 altcoins also lose value and now bitcoin price have been increasing but if you look at the altcoins their is no much increase come pair to the increase of bitcoin, this is to tell that investing in altcoins is very risky and their is no need for making an investment on altcoins when we have bitcoin that is very valuable. It is a lose investing altcoins because it is not very profitable. When thinking of investment what needs to be considered first is reliability, good value, and since bitcoin has all this qualities it is better to just buy Bitcoin and hodl and forget the rest.

Well said I think everyone will like to go for something that will profit them in the future, is obvious that bitcoin has a better future, right from day one I always stay away from altcoins I don't like investing in alt reason is because their future is not guarantee. and it can't be use for Long term holding, that is why I choose to hold bitcoin alone, the risk involve in bitcoin investment is very low compared to the risk in altcoins, I will always advice every new investors to start from bitcoin investment before looking out to other coins.

Y3shot

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Quote from: Gaza13 on May 02, 2024, 11:26:07 AM

Quote from: Negotiation on May 02, 2024, 07:17:49 AM

Bitcoin is always considered to be the best currency among all crypto coins. Even if the price of this currency decreases it skyrockets over time. Other coins are not so reliable and have little chance of going up if the price goes down. Most of the currencies in crypto go up depending on the price of bitcoin. Compared to that bitcoin is strong currency and everyone's first choice for investment. Investing in bitcoin can be profitable. The price of bitcoins rises dramatically in a short period of time. Investments in bitcoin are less likely to shrink.

Yes, I agree with this, Bitcoin is indeed the king of all coins. It is true that if bitcoin is on the rise, of course alt coins will influence the price. For the best investment right now, Bitcoin is the right choice. I think the possibility will always be there for altcoins to reach new heights. Choose alts with strong fundamentals such as eth, bnb and solana, don't choose alts that are just being born, this will make you lose a lot of money there.

I have been observing the market. When bitcoin falls to $59 altcoins also lose value and now bitcoin price have been increasing but if you look at the altcoins their is no much increase come pair to the increase of bitcoin, this is to tell that investing in altcoins is very risky and their is no need for making an investment on altcoins when we have bitcoin that is very valuable. It is a lose investing altcoins because it is not very profitable. When thinking of investment what needs to be considered first is reliability, good value, and since bitcoin has all this qualities it is better to just buy Bitcoin and hodl and forget the rest.

Blitzboy

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Quote from: MainIbem on May 02, 2024, 08:35:26 PM

Quote from: Oasisman on May 02, 2024, 03:59:54 PM

These altcoins that you've mentioned, they bear lesser risks than the rest of the altcoins in the market and with bitcoin being at the top in terms of the level of risk associated with it. However, people wouldn't always follow the safer path as there are also bigger opportunities to maximize the profit but it bears greater risk than the others. This is the reason why a lot of projects and altcoins were created every now and then. No wonder why there are a lot of memecoins popping up in the market today. Some investors have huge risk appetite to put their money in this kind of coin, but I'm quite sure old investors also have bitcoins in their wallets.

There is no doubt that there are Alts with good potentials but it would be very risky for one to currently invest in any of those newly developed memecoins or shit coins most of them are pump and dumps and would always dump after they have profited from lots of investors. Since Bitcoin influences the price of other cryptocurrency then that alone should let people know that it's the best crypto asset they could ever think of. However I think why most people would always fall back to Alts or some Memecoins is cause they're not financially able to afford enough Bitcoin based on it's current price and that's why they would fall back to investing on potential Alts like ETH, SOL or BNB which they consider would get to the level Bitcoin is in the future. Well i think by then Bitcoin would had gotten beyond what it is currently cause it's more superior to other Cryptocurrencies and those who take advantage of it's bear season would always male lots of profits demanding on how much they invested.

These "shitcoins" and other new memecoins are not worth it. Although the thought of getting rich quick sounds appealing, it doesnt usually happen that way. A lot of people lose money when they play this game. We'll talk about Bitcoin later. Why is it at the top? Because it's the most commonly used. The point is to pick a winner, not to see who has the cheapest coins. Bitcoin has shown that it works many times. Other cryptocurrencies, like ETH, may look good on paper, but they arent quite there yet. Trust me, its smart to buy Bitcoin now, while the price is low. After the market recovers, which it will, investors who made money now will be very happy.

AnonBitCoiner

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Quote from: coinerer on May 02, 2024, 12:57:42 PM

Bitcoin is not only currently but forever the king of cryptocurrencies. Everyone can make long-term investments on Bitcoin with complete confidence that they will get profits for sure. Because no one trusts any other coin in the crypto world, everyone trusts Bitcoin without hesitation. Bitcoin, on the other hand, cannot be controlled by anyone, it is fully decentralized and therefore can be invested in blindly. Because of these huge benefits, you should invest only in Bitcoin even if you don't invest in other coins

Bitcoin is a widely acceptable currency and investment source due to its increasing success and it does not involve the participation of third parties as well as it has the ability to make changes in the price of all the crypto coins therefore it is known as the king and purple give value to Bitcoin more than any other investment technology.

The main reason behind its success is that after facing hard situations or negative situations Bitcoin recovers back to its higher worth due to which people have firm belief that it is not a scam project so putting large sums of money will not be an issue for them.

MissNonFall9

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There is no need to invest in thousands of coins to profit from cryptocurrencies just a few potentially powerful currencies. From which it is possible to achieve long-term profit. However, while many people will invest in cryptocurrencies on a long-term basis, there are also people who are willing and able to invest in other currencies for short-term gains. Bitcoin is the only option for long-term gains and those who believe in the "do not put all your eggs in one basket" economics, invest in other potential currencies besides Bitcoin on a short-term basis both of which are relevant investments.

MainIbem

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Quote from: Oasisman on May 02, 2024, 03:59:54 PM

These altcoins that you've mentioned, they bear lesser risks than the rest of the altcoins in the market and with bitcoin being at the top in terms of the level of risk associated with it. However, people wouldn't always follow the safer path as there are also bigger opportunities to maximize the profit but it bears greater risk than the others. This is the reason why a lot of projects and altcoins were created every now and then. No wonder why there are a lot of memecoins popping up in the market today. Some investors have huge risk appetite to put their money in this kind of coin, but I'm quite sure old investors also have bitcoins in their wallets.

There is no doubt that there are Alts with good potentials but it would be very risky for one to currently invest in any of those newly developed memecoins or shit coins most of them are pump and dumps and would always dump after they have profited from lots of investors. Since Bitcoin influences the price of other cryptocurrency then that alone should let people know that it's the best crypto asset they could ever think of. However I think why most people would always fall back to Alts or some Memecoins is cause they're not financially able to afford enough Bitcoin based on it's current price and that's why they would fall back to investing on potential Alts like ETH, SOL or BNB which they consider would get to the level Bitcoin is in the future. Well i think by then Bitcoin would had gotten beyond what it is currently cause it's more superior to other Cryptocurrencies and those who take advantage of it's bear season would always male lots of profits demanding on how much they invested.

Oasisman

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Quote from: Gaza13 on May 02, 2024, 11:26:07 AM

Quote from: Negotiation on May 02, 2024, 07:17:49 AM

Bitcoin is always considered to be the best currency among all crypto coins. Even if the price of this currency decreases it skyrockets over time. Other coins are not so reliable and have little chance of going up if the price goes down. Most of the currencies in crypto go up depending on the price of bitcoin. Compared to that bitcoin is strong currency and everyone's first choice for investment. Investing in bitcoin can be profitable. The price of bitcoins rises dramatically in a short period of time. Investments in bitcoin are less likely to shrink.

Yes, I agree with this, Bitcoin is indeed the king of all coins. It is true that if bitcoin is on the rise, of course alt coins will influence the price. For the best investment right now, Bitcoin is the right choice. I think the possibility will always be there for altcoins to reach new heights. Choose alts with strong fundamentals such as eth, bnb and solana, don't choose alts that are just being born, this will make you lose a lot of money there.

These altcoins that you've mentioned, they bear lesser risks than the rest of the altcoins in the market and with bitcoin being at the top in terms of the level of risk associated with it. However, people wouldn't always follow the safer path as there are also bigger opportunities to maximize the profit but it bears greater risk than the others. This is the reason why a lot of projects and altcoins were created every now and then. No wonder why there are a lot of memecoins popping up in the market today. Some investors have huge risk appetite to put their money in this kind of coin, but I'm quite sure old investors also have bitcoins in their wallets.

Fiasem20

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Bitcoin is the best decentralized currency to hodl for long term,it offers huge profit return.Altcoins are not invented to hodl for long term,some may tend to rise but not all, investors who feel like making quick profits trade on altcoins and not investing on it.Some altcoins in the crypto market may pump but when the demand of the coin decreases it may lose it's value and crash. Ethereum one of the most top trusted altcoin that has being added in most investors portfolio due to it's high return.It would be wise for an investor to invest on Bitcoin that offers massive profit for long term because most altcoins may fall and never rise again so choose wisely.

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Quote from: moneystery on April 27, 2024, 10:52:01 PM

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.

The main advantage of investing in multiple coins is that you get small profits, and a major disadvantage of investing in a single coin is that you can only continue trading for as long as you want. That coin does not go up, nothing is gained, and if the same coin lands, all your money is gone. So I would say that if you invest in multiple coins it is a good decision.

But, you can't deny the fact that all coins follow Bitcoin. If BTC goes up, all altcoins go up, and If BTC goes down, all other alternatives start to fall faster than Bitcoin. This is why I am not in favor of long-term investment in any altcoin except for a couple of trusted altcoins such as ETH which is the second largest cryptocurrency and the most trusted altcoin.

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Quote from: coinerer on May 02, 2024, 12:57:42 PM

Bitcoin is not only currently but forever the king of cryptocurrencies. Everyone can make long-term investments on Bitcoin with complete confidence that they will get profits for sure. Because no one trusts any other coin in the crypto world, everyone trusts Bitcoin without hesitation. Bitcoin, on the other hand, cannot be controlled by anyone, it is fully decentralized and therefore can be invested in blindly. Because of these huge benefits, you should invest only in Bitcoin even if you don't invest in other coins

Not all people trust Bitcoin, there are even people who publicly state their distrust on the market of Bitcoin while others straightly states that Bitcoin is some form of a scam. And there are still other people who trust altcoins, in fact some even hold them until their altcoin holdings moon or become worthless.

As the saying goes, not one can please everyone and not one can conquer all the interests of people. I do agree that Bitcoin can be said as the best investment in the cryptocurrency sphere in terms of liquidity and lesser risk but some altcoins had proven themselves over the years. Holding only Bitcoin may make us miss some good altcoins to invest in, so I believe we should have an open mind when it comes to cryptocurrency investment. After all, we all sought for profit when investment is the topic. Just do our own research and keep ourselves updated and most of all invest only what we can afford to lose when dealing with altcoin investment.

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Quote from: Shamm on May 02, 2024, 12:34:59 PM

Quote from: R100K-Martin-Lunger on May 02, 2024, 12:26:59 PM

I somewhat agree with what you've said. Bitcoin is the only "reliable" coin that you can hold for the long term. However, it doesn't mean that people should stop investing in other projects. A diverse portfolio is always better than hedging your bets on just one coin or asset. I also see potential in SOL, ETH, and other altcoins. Of course, research is crucial and you must not invest blindly.

Nowadays Bitcoin is a King of all cryptocurrency and without a doubt if we put our investment in this coin 100% we will got a profit in the near future cause we all know how it moves in the market even though there's a time that the price will decrease but still it will increase every sometime cause the price is too volatile. Also Bitcoin is already proven by some investors that they got a big profits through thier investment. And not just Bitcoin but many more altcoins will increase too but there's no coins who can overlap Bitcoins.

Bitcoin is not only currently but forever the king of cryptocurrencies. Everyone can make long-term investments on Bitcoin with complete confidence that they will get profits for sure. Because no one trusts any other coin in the crypto world, everyone trusts Bitcoin without hesitation. Bitcoin, on the other hand, cannot be controlled by anyone, it is fully decentralized and therefore can be invested in blindly. Because of these huge benefits, you should invest only in Bitcoin even if you don't invest in other coins

Shamm

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Quote from: R100K-Martin-Lunger on May 02, 2024, 12:26:59 PM

I somewhat agree with what you've said. Bitcoin is the only "reliable" coin that you can hold for the long term. However, it doesn't mean that people should stop investing in other projects. A diverse portfolio is always better than hedging your bets on just one coin or asset. I also see potential in SOL, ETH, and other altcoins. Of course, research is crucial and you must not invest blindly.

Nowadays Bitcoin is a King of all cryptocurrency and without a doubt if we put our investment in this coin 100% we will got a profit in the near future cause we all know how it moves in the market even though there's a time that the price will decrease but still it will increase every sometime cause the price is too volatile. Also Bitcoin is already proven by some investors that they got a big profits through thier investment. And not just Bitcoin but many more altcoins will increase too but there's no coins who can overlap Bitcoins.

R100K-Martin-Lunger

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I somewhat agree with what you've said. Bitcoin is the only "reliable" coin that you can hold for the long term. However, it doesn't mean that people should stop investing in other projects. A diverse portfolio is always better than hedging your bets on just one coin or asset. I also see potential in SOL, ETH, and other altcoins. Of course, research is crucial and you must not invest blindly.

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Quote from: 0t3p0t on May 01, 2024, 07:33:00 AM

Quote from: legendbtc on April 27, 2024, 07:49:29 AM

Quote from: MusaMohamed on April 27, 2024, 07:37:38 AM

Quote from: SickDayIn on April 27, 2024, 07:21:02 AM

According to CoinGecko, there are over 2.5 million cryptocurrencies (read more here: https://www.coingecko.com/research/publications/how-many-cryptocurrencies-are-there).

You can read more information for

How many cryptocurrencies failed, dead?
How many Bitcoin forks are dead?

Then you will see more risk from altcoins (Bitcoin forks are altcoins too) and make your investment decisions more carefully and have more fear about altcoins, then avoid altcoins for your portfolio in long term.

Dead Coins: Over 50% of Cryptocurrencies Have Failed
How many Bitcoin forks are there?

Yes, there have been thousands of failed, scam and useless altcoins but I don't think we should avoid all altcoins. I have no objection to someone investing only in bitcoin because it is the safest currency on the market. But let me ask, if we only talk about profits, what about altcoins like ETH, Link, Near, Solana...? 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. Similarly, solana was expected to die when FTX collapsed but look at what it has done over the past year from $13 and it is trading above $140.

Yeah Altcoins has huge potentials really I am personally into Altcoins right now because I can buy some of them with my smaller funds but my plan is that all my profits in Altcoins will surely be converted to Bitcoin. I can't buy some Bitcoins with my small fiat money but I can do that on Altcoins I am into quantity right now because I can't do that with Bitcoin.

It is also a good way to increase the number of bitcoins for our long-term investment. I believe that if someone has good knowledge and is not stubborn or conservative, making short-term profits with altcoins is not too difficult. We then transferred some of the profits from altcoins to bitcoin, which couldn't have been better. But I don't understand why so many people hate investing in altcoins when there are so many opportunities for us with altcoins.
To me, we enter the market to make profits, so take advantage of every opportunity if possible, don't miss any great opportunities just because others say they don't like it.

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Quote from: Onyeeze on May 02, 2024, 08:32:15 AM

Quote from: Negotiation on May 02, 2024, 07:17:49 AM

Bitcoin is always considered to be the best currency among all crypto coins. Even if the price of this currency decreases it skyrockets over time. Other coins are not so reliable and have little chance of going up if the price goes down. Most of the currencies in crypto go up depending on the price of bitcoin. Compared to that bitcoin is strong currency and everyone's first choice for investment. Investing in bitcoin can be profitable. The price of bitcoins rises dramatically in a short period of time. Investments in bitcoin are less likely to shrink.

other coins have the chance to increase when the price drop in the market because it is when known that the price of Bitcoin Skyrocket other price of cryptocurrencies especially altcoins because without bitcoin experiencing a bullish season I don't think that any other coin can be positive in the market so if bitcoin price decreases in the market if the affected them why if the price of Bitcoin increases in the market it will also help the market of cryptocurrency to increase mostly the valuable coins and the new altcoins that been launched

It is quite obvious the the price of Bitcoin is the major influence on all cryptocurrency in the market but at the moment there is no way Bitcoin could hit 2x in this season. But when we look at altcoins, we could be surprised that there will be some altcoins that would hit 2x to 5x where holders would have to make extra money compared to what they would earn holding Bitcoin. Bitcoin is the best coin for now because it is quite reliable compared to other cryptocurrency.

Gaza13

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Quote from: Negotiation on May 02, 2024, 07:17:49 AM

Bitcoin is always considered to be the best currency among all crypto coins. Even if the price of this currency decreases it skyrockets over time. Other coins are not so reliable and have little chance of going up if the price goes down. Most of the currencies in crypto go up depending on the price of bitcoin. Compared to that bitcoin is strong currency and everyone's first choice for investment. Investing in bitcoin can be profitable. The price of bitcoins rises dramatically in a short period of time. Investments in bitcoin are less likely to shrink.

Yes, I agree with this, Bitcoin is indeed the king of all coins. It is true that if bitcoin is on the rise, of course alt coins will influence the price. For the best investment right now, Bitcoin is the right choice. I think the possibility will always be there for altcoins to reach new heights. Choose alts with strong fundamentals such as eth, bnb and solana, don't choose alts that are just being born, this will make you lose a lot of money there.

pawanjain

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Quote from: Bravut on April 27, 2024, 12:43:51 PM

Quote from: pawanjain on April 27, 2024, 12:26:19 PM

The thing is that bitcoin has been giving out amazing returns since the beginning.
Since it's the first cryptocurrency and has been on the top rank since inception, people have developed a strong trust on it.
This is the reason why there are a lot of strong holders holding bitcoin.
But then again, it does not mean that we shouldn't diversify our portfolio. We should keep investing in promising altcoins.
We should actively track our portfolio and keep rotating our money in valuable assets.

Valuable asset like Altcoin, lol. If you're still in the early stage of accumulation I don't see any need diversifying your portfolio with altcoins. In as much as diversifying is good, you can invest in Real Estate, and other promising and profitable physical assets.

Rotating money with altcoins is simply you accepting a death sentence, am not saying it's all bad but as far as you haven't accumulated much of bitcoin or have a solid portfolio no need to mix it up with shitcoins, invest in a tested and proven asset not some made up coins used for profit making without any foundation. It more or less gambling because you can't assure the state of those altcoins and the best advice I can give is if you have made some profits don't wait, use it.
At last everyone will learn.

That's the reason why I have explicitly mentioned "promising altcoins" and not just any random shitcoins.
I know there are thousands of shitcoins out there but I am not talking about any of them.
There are promising altcoins out there like ETH which should be a part of our portfolio for diversification.
But yes, I do agree with you on the point that our portfolio size should be big enough with bitcoin before we look into diversification.

Onyeeze

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Quote from: Negotiation on May 02, 2024, 07:17:49 AM

Bitcoin is always considered to be the best currency among all crypto coins. Even if the price of this currency decreases it skyrockets over time. Other coins are not so reliable and have little chance of going up if the price goes down. Most of the currencies in crypto go up depending on the price of bitcoin. Compared to that bitcoin is strong currency and everyone's first choice for investment. Investing in bitcoin can be profitable. The price of bitcoins rises dramatically in a short period of time. Investments in bitcoin are less likely to shrink.

other coins have the chance to increase when the price drop in the market because it is when known that the price of Bitcoin Skyrocket other price of cryptocurrencies especially altcoins because without bitcoin experiencing a bullish season I don't think that any other coin can be positive in the market so if bitcoin price decreases in the market if the affected them why if the price of Bitcoin increases in the market it will also help the market of cryptocurrency to increase mostly the valuable coins and the new altcoins that been launched

Topic: Why you should only hold Bitcoin - page 9. (Read 2497 times)