Bitcoin Forum

One thing I have come to observe in this crypto space is that: people always think the price of bitcoin is too expensive and they try to go for low cap coins that are still developing and will be hoping to cash out big in the long term and increase their bitcoin purchasing power, unfortunately, most times these altcoins that were predicted to grow do mess up investors plan, and instead of them to buy bitcoin this time after the first disaster, they chase another promising altcoin and end up been disappointed, by the time they are set to buy bitcoin their money would have been burnt by shitty new coins. That is a rat race.

I have come up with a conclusion that whenever you are confused about the coin to invest your money, just go long on bitcoin as it has proven to always come back from the dead. In fact, never tell newbies to invest in altcoin when they still understand just little about cryptocurrency and the market. Always point bitcoin to them while they develop their skill in the market.

So which coin do you first advise your student to buy as the learning progresses?

Bitcoin of course. I'm telling someone who's eager to know more about bitcoin and cryptocurrencies to buy first bitcoin. It's the best crypto and investment at the same time. I don't want them to experience what I have experienced for losing by investing to random altcoins. It's a good lesson for me though and that's why I have something to share to them. But if they insist and don't like to have bitcoin, it is their choice and their money. As long as I have told them a good advice, I'm done with them.

Definitely Bitcoin. It's the Godfather of cryptocurrencies and without it, i don't think we would have come these far without it.

I understand the need for newer technologies and solutions that the newer altcoins are trying to offer which is not bad at all but most of them are totally just created to make the creators instant "crypto millionaires"

When it comes to buying crypto and hodling it, you can never fail with bitcoin. This graph of a few top coins shows why bitcoin is the real deal. Focus on the column of Price drop from the ATH that happened to most alts in late 2017 and early 2018. Ignore Bitcoin SV because it's a newborn shit coin that didn't go through that bull run.

https://i.imgur.com/TPGLXWu.png

People seem to not comprehend that Bitcoin is divisible into basic units known as satoshis (sats).

Obviously buying an entire Bitcoin is expensive, but nobody needs to buy an entire Bitcoin. It's perfectly reasonable to buy a fraction of a Bitcoin, if that's all they require.

People who are hesitating to buy Bitcoin or another other cryptocurrency should just consider the USD equivalent of their investment, e.g. $90 = approx 0.01 BTC or 0.5 ETH.

Notional value doesn't matter.

I think we all agree about this, the first coin to recommend is definitely Bitcoin. It is the safest coin for investment and has been proven for years. However, I won't recommend investing in Bitcoin to any students. I think it is only for university students who possibly have skills to invest and trade in crypto market. So, be careful to recommend it, choose the right people/students!

Basically if you are confused where invest, just take into consideration about doing some research on strong altcoins or possible, investment that are related to bitcoin, in such a case that you don't need to find another altcoins, you aren't just looking into the market and prayinh it will be bull soon. What I mean is to try to experiment things, you could have assets that uses bitcoin as payment method, and sell goods and offer services in crypto.

One thing I've just noticed and observed is that, most of the newbies tends to be excited and without a strong foundation to the decision that they are making. You're example OP is the perfect example since I as well fall to buy short term promising altcoins before where in fact, I've already invested in bitcoin in the first place.


Honestly, I couldn't advise that it should be bitcoin, though, they will really learn about investment if they lose allot in investing in crypto for the first time. What I could suggest is that, they should first try altcoins such as Ethereum and XRP, because Bitcoin for me is the real deal, the application of your knowledge from investing in Altcoins will be your way to earn profits in bitcoin.

Nothing. Because people don't necessarily need to buy it to learn about it. Though I'm extremely bullish on bitcoin, I don't tell anyone to buy it. Simply due to the reason that not everyone can stomach the price volatility. If a person I'm talking to is genuinely interested in bitcoin and does extensive research on it, chances are, he's going to buy bitcoin without even me telling him.

Bitcoin is probably the least risky of the cryptocurrencies because it's the most known and most tested and is the face of the crypto economy.  It's true that if you are going to invest in this space, you should look at Bitcoin as a first option.

Everybody should learn the basics first before even deciding to buy. The buying will come later on when the person already truly understands what he/she is buying. Needless to say, when I talk about crypto to anyone, it will have to start and end with Bitcoin. And of course, when talking about Bitcoin, it does not start and end as if Bitcoin is a piece of land or a piece of gold which you buy, leave untouched for a while for value appreciation, and then sell with a profit. It kills the very reason why Bitcoin became popular in the first place. You cannot afford to miss the idea of decentralization, global and borderless, truly owned, and that it cannot be seized from you.

On another note, altcoins could really be considered building blocks so that your Bitcoin owning will grow. I am doing it in fact. Not to mention that I also believe on a few altcoins. But to reduce the risk, it is better to stick to those altcoins that have reached top ranks.

the problem is not with the price being high the problem is with the lies that these newbies hear and easily believe. usually they are brainwashed into thinking that the shitcoin is on the same path as bitcoin and because it is worth a small value right now it is going to be worth the same as bitcoin in a year or two. so obviously the naive newbie buys the lies and after a while that he lost a lot of money thanks to the dump of that shitcoin they realize the mistakes they had made and come back.

you are looking at the wrong numbers, you should look at their "real" prices which is in BTC not in USD. then you can see how bad an investment they are.

Shitcoins will be shitcoins, they are going to under perform no matter what market we are currently in.


Definitely, Bitcoin has proven in the past that it is very resilient and can bounce back despite so many attacks and its not every comparable to altcoins that we have right now. That newbie mindset boils down to what they supposedly here from so called experts and the media. That altcoin is less riskier as compare to Bitcoin, but after several months they got burn, they lost money from pump-and-dump/trading signal groups and other scam altcoin projects. Not very good experience for a newbie.

of course I would suggest bitcoin, because so far bitcoin still dominates altcoin when the price of bitcoin goes down so most of the other altcoin prices will also go down, so bitcoin is a very good coin to use as an investment both long and short term.

Some not try for investing with bitcoin have little money and look not enough for getting much profit with bitcoin, they try for investing with altcoin because could get much profit with altcoin have lower price than bitcoin, when raise up although 5% they can get much profit how ever altcoin have bigger risk when price going down look not possibility up again to higher price.

I will refer a newbie to Coinbase because I've been there and I learned a lot from every altcoin, I'm referring to their video presentations of how it works. But of course, before that, I'll make sure that he already knows and understand what Bitcoin is. I will not only tell him about the earnings from investments, but it's the use-cases and benefits which mean a lot.

Of course, when you are talking about cryptocurrency the center of attractions there is Bitcoin. So, obviously bitcoin had a majority of people choose because it is very well known. The best advice first is Bitcoin and followed by those altcoins. Referring to others si, not a problem but dont forcing them to invest because once they were get failed, you are the one who will blame.

While I agree on your point on how Bitcoin always comes back up and is better to trust than any altcoins, but this isn't the case when it comes to recognized altcoins like ethereum, litecoin, ripple etc. because, these coins follow the price and chart of Bitcoin and as Bitcoin grows back, they too grow, and their volatility in terms of rate of returns is higher than of Bitcoin and hence, those coins can give higher profits than Bitcoin in the short term, isn't it ;)

I suggest you take a look at the charts of these altcoins vs bitcoin and see for yourself if it's "rate of returns is higher than of Bitcoin". They've been getting rekt for a while now, in exception of a few alts like LINK.

As for short term, sure you could say that; but best of luck timing the markets.

No Altcoin is better than Bitcoin, Bitcoin is leading the crypto market with highest value and multiple benefits. I am not saying that Altcoins are not working well, some are working very well but not like Bitcoin. They are all following Bitcoin in its way, you can use it in both daily trade and long term trading, and both types of investments will give you benefits better than investing in Altcoins. As Altcoins are not stable as Bitcoin is.

Indeed, bitcoin is still the best as an investment. Even though that it's extreamly expensive we can still purchase them in a fraction, this is something that most newbies did, figured out that bitcoin is too expensive then they looked up for the altcoin to buy a whole and hoping that price skyrocket like bitcoin, I personally purchase some coins which have good feature that people need it, meaning that the demand is exist.

True, even I have had similar thoughts in the past like investing into newly developing coin which is priced under $1 as they might give good returns but after 2019s debacle it's clear that we cannot experiment anymore with new coins and rather go for top coin as far as bitcoin is concerned there is no such rules that you should purchase a whole bitcoin. It's advisable to buy bitcoin for the funds you have and then try to increase it by cashing out and cashing in at the right moment.

I think it's a fair conclusion you make here. Altcoins were profitable in 2017 and before that. There was indeed a period of time when a person could benefit more from buying one of the top altcoins rather than Bitcoin. ICOs were always very risky, though, so I am not talking about them when I say 'top altcoins', I mean the ones with the highest market cap. Anyway, after the big fall in prices in 2018, altcoins are not that admired, and investing in them now is very risky. Bitcoin investment can be a bad one as well, of course, if a person loses it and sells during a dump, for instance, so all sorts of investments are not for people who want to play safe. But Bitcoin is less risky than other cryptocurrencies, so that's the one I choose.

That's the problem with altcoins. With bitcoins it doesn't matter how much time it got dumped it will always comeback and always has the chance of hitting ATH but with altcoins when they got dumped so hard they forgot to comeback because alts is just a tool for profit by the whales though the top 5 altcoins might be an exception. Moreover, the direction of market heavily influenced by bitcoin so it just makes sense to choose bitcoin instead of any other alt.

It’s very difficult for any altcoin project to convince me.
I don’t put much interest in altcoins projects, although I have seen a lot of people talking about them.

From my own understanding, I would say that the reason some people like coins with small market cap is because they are easy to manipulate, so they are hoping that the price would be pumped at anytime so they can make easy profit and others think that investing in Bitcoin is already late, so why not invest in altcoins that are still starting up, that way they believe they would be lucky as the earlier Bitcoin investors who made millions of dollars after some years. But, altcoins are different, they keep on disappointing so it doesn’t make any sense.

Very good point, bitcoin has existed for 10 years already and despite all the shortcomings and all controversies surrounding bitcoin, it remained on top thus, if you are to invest in coins and you are not sure which on will give you more profits then might as well choose bitcoin because nothing can go wrong with bitcoin it can be tag as a safe haven when it comes to investing in coins. On the other note, it is okay to invest in altcoins but make sure to choose the right coin for you.

Bitcoin is kinda expensive-yes. But everyone can afford to buy some part of it. It is not required for us to buy the whole bitcoin if we can't afford it. We certainly still invest bitcoin and go for a long term hold just like what I am doing right now. Yeah, we can't also deny the fact that some investors wanna try cheap coins. For me, it is not about how cheap or how expensive a coin is. As long as we bought a worth to invest coins that gives us some profits.

about what you wrote, days ago I saw this:

https://coinswitch.co/news/ripple-price-prediction-2020-xrp-price-to-touch-1-20-usd-in-2020-latest-ripple-news-update

If someone doesn't do research they can believe in this article


I only advise people to buy bitcoin

I don't advise other people to buy anything(including cryptocurrencies).
If some people really think that bitcoin is "expensive",why don't they just buy 0.001 BTC.
There is a learning curve in crypto trading,and every trader should lose some money in order to gain knowledge and experience about the crypto markets.It's like every business,you have to lose some money,before you start making money.

But in 2017, when btc boomed, it was people who had invested in really unknown coins, and made a killing. Some of those investments were risk, and yet people took and made good money. Take a look at cardano, and how much money was made, by people who invested in really not so known coins.
I believe investing in bitcoin is a safe choice, but how likely bitcoin is going to go from 10k to 20k, or 20k to 40k, and on the same, if you look at cheaper coins, which quadruple your investment in no time.

Bitcoin is my first coin to introduce to my friends because its the popular coin and you can easily give an example of pump and dump of bitcoin and you can easily explain how volatile the cryptomarket is through the movement of bitcoin. If you are going to refer altcoins make sure you understand it because your friend might be on the big risk if they invest on it without proper knowledge about the altcoins. Bitcoin is the best coin to convince someone to use cryptocurrency, then if he wants to know more then choose also the best altcoins.

Bitcoin will always be the first choice among all the choices of coins. It doesn't have to be too much investment. You only need to invest the amount you are capable of investing so it's not as expensive as what you think. But investing in Bitcoin, we also have to consider the price not just how much btc we can buy.
Investing in cryptocurrency need to have some knowledge. So I guess, before we invest we make prior study how crypto works. And with that small knowledge, we know when is the right time to buy bitcoin.

Buying a certain coin is not the answer for newbies to learn about crypto or to understand the flow of the market. They need to gain knowledge first and help themselves to become aware of many things and not relying with their mentor's suggestions.

When it comes to what coin to buy I think most of us will suggest bitcoin because it is the safest coin giving us profit even in long period of holding. And even the price plunged it can bounce back with no specific time frame, we just need to wait and give it time to recover.

I strongly agree that the first choice of coins for investment is bitcoin, because bitcoin is very safe for investment. Because it can be seen
besides having a high volume, bitcoin also always dominates the market. This makes bitcoin very easy to make profits, mostly newbie
misunderstood bitcoin. Because the price is expensive so it's hard to make a profit, even though reality isn't like that. We could have
generate profits from coins that have expensive prices. Large profits depend on our expertise in managing strategies. So from that
don't ever hesitate to recommend bitcoin especially to newbies as the main choice for investment.