Bitcoin Forum

Their is no doubt that cryptocurrency has taking over the world, everyone is trying to develop a crypto project that will attract investors to invest in them. As the day counts by people are getting awareness of crypto project which they found it very nteresting to engage themselves with things that has to do with cryptocurrency. Their are lots of fake projects that people are investing in, and more fake projects are still coming and people will still found it interesting.  Bitcoin is the pioneer and footing behind other cryptocurrencies, tokens, NFTs, and airdrops that we have today. People will make mistake to invest in these project maybe because they lack understanding but with time they will correct their mistakes to turn back to bitcoin which is the best to invest.

altcoins=>tokens=>airdrop>bitcoin
At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has. When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.

This makes sense!
I can relate to this also because I remember before I was really lured to altcoins. Even I started with Bitcoin, like some of my Bitcoins before were converted to altcoins and I lost so much, after that I learned the lesson and started to hold and focus more on Bitcoin instead of altcoins.

         -   The spread of Bitcoin or cryptocurrency in different parts of the world is simply unstoppable in these times because financial investors know that we are in a bull run right now.

So they also take advantage of an opportunity like this, and even with the airdrops of other platform protocols, they also do it because this is the right timing for them.
But when the bear market season comes, the airdrops will gradually quiet down in the market, so what is happening is normal based on what I see.

Bitcoin is the king of crypto and of course no one can beat it. However, yes, there are quite a few people who invest in Altcoins that are of poor quality with the aim of getting rich quickly, but those who are lucky will indeed get extraordinary profits and of course they will not give up on investing in Altcoins or others. However, those who experience losses will certainly give up on investing in Altcoins and will definitely end up investing in Bitcoin because they learn from experience and think that Bitcoin is the safest crypto.

To be honest, I was also in a situation where I experienced losses due to investing in Altcoins that were not of good quality and up to now I believe Bitcoin is still the safest but I also invested in Altcoins but only a little but still the money I use most is to buy Bitcoin most of the because I personally have tasted the sweetness of investing in bitcoin.

Yes, experience is a valuable teacher and indeed beginners sometimes experience losses when they invest because they are not investing in Bitcoin. However, experiencing bitter experiences has made some people realize that BTC is the best.

You have a point. These projects just prove why bitcoin is the king of all cryptocurrencies. In all these years even with newer technologies, bitcoin remains the best and not one has replicated its success. This further improves the confidence and trust people have on bitcoin. At the end of the day, bitcoin remains superior and one of a kind. It is safe to say that there will be nothing like bitcoin ever again.

I think it would depend on every traders, there are traders who would spread out their investment, and wouldn't focus on single trade to lessen the risk.
But I do get the point all the other project mostly airdrop would only be used to make our portfolio grow bigger.

Yeah that’s true and I have experienced it too wherein we were lured to invest into new coins but ended up losing it all. It’s always better to stick to Bitcoin as I made a mistake in the past by investing my bitcoin gain into altcoins and I will never repeat it.

Oh yes, there is!
How many shops do you have around you that accept crypto?
How many people invest in stocks and have a bank account and how many actually have a crypto address?
Once you log out of this forum how many around you are actually interested in crypto?

Taken over the world? Be serious!
There are barely 40 million addresses with more than 1$ balance on the whole chain while we have 2 billion debit cards and you talk about "taking over the world"?

Some people need a reality check, once you close twitter and other social media where you follow only crypto you will realize how large this world is and crypto has barely made a dent in it, it's a long long long way to go!!!

Yes that true but the issue remain where one is spreading the investment how authentic it could be diversifying is not the issue but I don't see it as good means of cutting down risk as some may choose it.  Op point is very right the failure of some of this pump alter and shiltcoin has elevated BTC so much as many has see Bitcoin as the most preferable and it will still be reason been that the first impression speak louder than anything else.

I disagree.

Airdrop isn't a coin or token.

What you want to say is: big cap altcoins > low cap altcoins > newly listed coins > Bitcoin.

Some people might turn become Bitcoin investors, but if they hold their Bitcoin in centralized exchange and the CEX bankrupt, I doubt they will want to buy and hold Bitcoin again.

Most likely the scenario is: Bitcoin > Big cap altcoins > low cap altcoins > newly listed coins > gold/stock/real estate. This is because they no longer believe in cryptocurrency and they think Bitcoin is same to other coins that scammed them.

Yes I agree with you, I see a lot of people even on the street this days discussing the success of cryptocurrency, some where even talking about NOTCOIN token that they had and how much value they've gotten so far, so for me the awareness about cryptocurrency is there already, but the unfortunate thing is that this awareness will make a lot of people invest in the wrong project because of peer pressure and lack of basic understanding of the crypto environment. OP one thing you must understand about human beings is that, hence they've invested in a project and it doesn't work for them, they find it difficult to reinvest in a similar project another time, because that first wrong investment might have given them negative feedback or bad orientation. So for me I feel it is best bitcoin awareness spread more than most of this  unverified tokens we have put there.

We may not have so many shops that are accepting cryptocurrency as payment, and the reason for this is because in most countries government haven't fully accept cryptocurrency and many people don't want to link cryptocurrency to their business because they are afraid and do not know what will be the consequences.
Though i haven't been to every country,  but i will use my country to judge. Here we may not have shops, institutes that are accepting cryptocurrency, the government is not talking anything about cryptocurrency but I can say 70% of the young people are into cryptocurrency. I don't think people found cryptocurrency to be strange in my country.

Quite the opposite, we do have businesses that accept crypto as payment method and the government is not sitting on the sidelines when it comes to crypto regulations either. The present government has managed to force Binance and other exchanges to stop p2p trading in the country. Even with all these challenges and restrictions, Nigerians are very keen on cryptocurrency.

Stories about altcoin investors who are successful in achieving large profits whose value can change lives are interesting stories for many people to get directly involved in crypto because they want to experience the same success but also failures are stories that are also scattered around but usually people will focus more on success stories. that's why more and more people are getting to know cryptocurrency and after experiencing it first hand they will slowly start to get to know Bitcoin and realize that even though altcoins provide more open opportunities for big profits but storing Bitcoin is much safer, so yes the many projects that fail bring more people to know about crypto even though that is the worst part of cryptocurrency, because project failure is part of the scam in the crypto world.

Notcoin is currently still heavily hyped by other influencers in its promotion. And when it was listed on binance and other top exchanges, its price value in the market even fell.

But right now it's recovering little by little and it's around 0.01$ something again.
Although, I also bought some of it for short-term because I saw that it was still hot as it was hyped in the market.

This is not entirely true in my opinion. Failed crypto projects only promote Bitcoin to those who have not given up after incurring losses. Many people condemn cryptocurrency, Bitcoin inclusive,  after the lose money through scam. It is only those who are able to do some findings and discover that not all cryptocurrencies are bad, that happens to stick to Bitcoin knowing that it is different from the rest.

Some people I started with have shifted from Bitcoin to other areas siting risk and scam that are prevalent in cryptocurrency. If you actually know how many scams some of us suffer in this journey, then you will understand why they took those decisions.

So while failed projects created strong Bitcoin believers,
they actually scared a lot of people away from Bitcoin.

Many people who are investing in Bitcoin are attracted by the instant profit promised by some altcoin projects. These projects usually promise to give high profit that some greedy or uninformed people might not be able to resist the offer. When they are scammed, some of them will decide to leave the crypto space and never invest in the sector again. While others, through learning and experience, will come to realize that Bitcoin is the most reliable crypto. This might make them abandon altcoins and focus on only Bitcoin. It is just a two-way thing; a failed crypto project will discourage some people from investing. While others might decide to choose only Bitcoin because of a failed project.

The right sentence should be cryptocurrency is becoming popular. The amount of people who are aware or engaged in the crypto industry is still small. Crypto is just a new invention. It will take some time for it to become a dominant currency or investment.

What OP said would have been totally true assuming when projects fail, new ones don't emanate. If it happens so, it will mean that for each failed project, the participants will return to bitcoin until the very last project. But this is different from the reality. In reality, as many projects are failing, more are being launched and this enable people to jump from the one that has failed today to the one that will fail tomorrow and the cycle continues.

Only a few will embrace only bitcoin or have the larger percentage of their portfolio in bitcoin while using the rest to gamble in altcoins.

Talking about investment, we all have different views, of course Bitcoin has good value for everyone, including investors, but we cannot force investors to return to Bitcoin, actually they know the positive and negative things in investing, whether it's Bitcoin or other types of crypto.

As far as I know, investors currently have high desires, minimal capital and want big profits, that's what Altcoins are, they know the risks faced by projects that could die without being able to return the initial capital, considering that the current price of Bitcoin is high, it is quite difficult to choose Bitcoin as a core investment, indeed Bitcoin should be an option, but this understanding makes many investors feel difficult because Bitcoin must have large capital.

Everyone has their own vision, if we look at what you are seeing this is clearly benefiting bitcoin. But there are also some other people who think that because there are so many scam projects created and that has caused many people to misunderstand that bitcoin is also one of them, and that is why many people call Bitcoin a scam. 

Having many altcoin projects helps the market become more diverse and competitive, thereby giving investors more choices. But with many projects created but not strictly regulated, it leaves the market rife with scams and gives the cryptocurrency industry a bad reputation. So, it's hard to say that the failure of altcoin projects is a good thing for bitcoin.

Someone who recently invested in a failed project will be so devastated that they may not want to invest again in cryptocurrency generally. Those who want to continue and really find out why they lost that investment will ask the right questions about the best cryptocurrency to invest in; bitcoins will always be mentioned, and if the person they ask has another opinion, bitcoins will still be mentioned in comparison, so they will somehow get to know about bitcoins. I believe this is what the OP is trying to express.

It is rare to see someone who just lost a lot of money to a failed crypto project in a hurry to invest again without better knowledge.
 

The annoying part of it is that people will be involved in any failed crypto project and they are going to suffer a casualty in it, whereas that alone is not what makes bitcoin to get more attraction for adoption, instead, it will only teach others lessons in understanding the difference between bitcoin and altcoins, this will help them to know where to invest on and how to channel their investment on the right coin in cryptocurrency, because up till now, some cant still differentiate between bitcoin and altcoins.

I understand you and as well as Op. What he said is true but not completely true. Bitcoiners from beginning are still bitcoiners, but shitcoiners hardly switch to bitcoin because;

• They are first given a wrong orientation that bitcoin is so expensive for them to invest.
• Also that bitcoin will not give them the desired profits they want
• That bitcoin is for the rich
• [They give them so many shits coins to invest and also prepare their minds against failure. They'll be like if this fail and this fail, atleast this other one will not fail.
• It takes self determination and personal research to break out from those gangs.

Lots of newbies have to learn the hard way by getting scammed or rug pulled by chasing dreams buying shitcoins. Often it’s via failure they turn to the real deal, Bitcoin. I don’t like to see anybody get scammed or end up investing in a crappy token that has a Darth Maul candle to $0 but it’s often an experience that saves them in the long run as it sends them to Bitcoin.

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

Let the beginner do their activities in crypto activities by not advising it to choose coins A or B is useful for them one day when it becomes experience. Luckily those who immediately chose Bitcoin because they would not suffer fate like those who chose Bitcoin at the end.

Do not dare to guarantee Altcoin and similar investors will end in a happy, but many will say Bitcoin investors will experience the end happily.
If I'm arrogant, only bitcoin and nothing else. The path that can take us to the destination rather than to the heretical road is Bitcoin.

Yes, it seems like many people have experienced bad impacts due to investing in new Altcoins, especially low-quality Altcoins, but of course I personally have also felt something like that and finally realized that Bitcoin is the safest.

but of course not everyone can learn from their experience because many people, due to losses investing in crypto, ultimately don't want to jump in again and don't want to learn from experience and ultimately leave the world of crypto, but those who want to learn from experience usually always succeed, but yes, Bitcoin is still the ultimate goal. because up to now I know that Bitcoin has never disappointed its holders as long as they are patient and invest for the long term.

Yes, apparently you are a great person who can learn from experience and of course I also always learn from experience because experiencing bad things in the past is a lesson for us to be successful in the future.

Although it's the truth, it's something that can always be prevented if they just did their research which by the way, a thing that you should always do no matter what aspect in your life, it should never be a thing that you forget about, I think that as you age, that should be the thing that you do first so I'm not the feeling bad when it comes to these types of people falling for scams because they didn't do their research or even had an ounce of common sense that when you invest in crypto, that people are definitely going to try and scam you. There's also the fact that they haven't heard of the term too good to be true when that's a really common thing to say for most people, it's not even culture exclusive, every culture and country has the same kind of saying. Nowadays, those people that get scammed by this type of thing really deserve what's coming for them.

This is true. Many people or investors in the crypto currency world despise altcoins because they say that they tend to become scams or rugged pulled, which is somehow true, but let's note that not all altcoins are like that. For me and for my experience, there are a lot of altcoins that are profitable and legit. It's just up to the investor to do their research and be cautious so that they could avoid the scam or most likely to fall down altcoins. Those shitcoins are, I think, the most useless coins. We all know that shitcoins are built mainly for memes, and they have a higher or major percentage of scams or rug pulls. In conclusion, if you want to maximise the profit, then don't stay in one crypto currency only. Because there are many currencies that are profitable and also have a bright future ahead, you just have to look for them by doing research.

As rare as it is, I have actually encountered some people back then that do not invest in bitcoin at all. They say that they prefer altcoins more. It surprised me of course as I didn’t think anyone invested in crypto but not in bitcoin. Personally I have no problems with investing in altcoins as long as there’s also some percentage allocated for bitcoin. I think it’s just the smart choice.

These people who invested in altcoins only reason that bitcoin is too expensive and they can get profit anyway from altcoins.

Sometimes that's the only way for these people to get into bitcoin, they don't have the proper mentorship or they didn't have any proper guidance when they got into crypto investing and so they just jumped right in and this is what they got, they end up losing and although I can agree that some of them do end up investing in bitcoin at some point, there are a larger portion that would have a hard time trusting any other cryptocurrency because they don't want to lose anymore money than they already had with the last one that they got rug pulled. That's my sentiment too with altcoins, I feel like it's a matter of doing your own research and making sure that you're not investing only what you can afford to lose.

I know a lot of people know NFT first or airdrops before they know bitcoin and its not surprising at all to see that since those altcoins are well shared into different community compare to bitcoin and later on they only realize that the top coin in the market exist especially if the price of this coin pump up already. Although we can't expect those new people to participate on any bitcoin activities. But at least they know that there is more better coin exist and once they are done with those rug pulled scheme you mentioned and other scams then they can go after with bitcoin and try their luck for trading it or either for long term holder to see if they can make more better results there. Sometimes I didn't have any guts to hold alts since what I commonly do with it is to dump immediately because same as you its hard to trust them knowing their reputation is always questionable.

Exactly most people in crypto space started from the wrong way.Just like airdrops have gained popularity around the globe and lot of persons are into airdrop,and when the token dump they'll return to the coins with high potential Bitcoin to be precise.Indeed failed crypto projects have promoted Bitcoin, people may want to learn things the hard way, they're some people that heard of Bitcoin but chose to invest on airdrops and memecoins after being scammed they pull themselves from that circle and invest in Bitcoin which happens to be the pioneer of all the coin in the crypto space.

That is what commonly happen to I think majority of crypto enthusiasts but some just make it as a diversification of their assets which is I think a smart move as they are owning both Bitcoin and Altcoins. But most newcomers to crypto experience that thing no doubt about that. I also started with Bitcoin adopt Altcoins and then have them both though just a few amount of dollars but yeah better than nothing.

Maybe because you are a beginner, choosing the wrong path is normal. the experience gained will probably make them finally realize that Bitcoin is the best asset they should have. not altcoins and a lot of trash tokens that waste their time.
On the other hand, we also have to realize that the existence of altcoins makes the market more attractive. some get losses but some get profits from there. and those who are smart will shift profits to Bitcoin.
everything is a process of learning and understanding. Altcoins will continue to exist and multiply. but Bitcoin will still be the best.

Knowing crypto I increasingly acknowledge the fact that I end up coming back to bitcoin more, but I also acknowledge the opportunity with altcoins is great in the space. Maybe it's because the size of each person's assets will be different that leads them to risky/safe choices, but at some point most achievements need to prioritize safety more so the shift and trust in bitcoin is inevitable.

I have gone through periods of ICO trends, which can be said to be times when I traded off between choosing risk and seeking more profit. But after being exposed to that, I was startled and laughed. It helped me see my own stupidity when I was blindly led by greed. Anyway, I see the importance of bitcoin in the portfolio, literally no need to do anything complicated but just watch things happen.

In general, large and wise investors base Bitcoin more on other coins, but this is a very good concern, Bitcoin prioritizes superiority and excellent quality so there is no big doubt about Bitcoin, we prioritize Bitcoin over various other investments. , so far keeping Bitcoin is a very good thing.


Most beginners like that don't realize the meaning of everything they have done, and maybe every beginner has a different reason for new things to try, and of course they have to study this well, because this is the place where they know about crypto and the outside world that tends to take them in a better direction, we have noticed some of them continue to study Bitcoin and what actions they should take.

This guy's right! Fly-by-night crypto projects promising the moon are everywhere, like a reality show. Its entertaining, sure. See, Bitcoin is way more perfect. It has history, infrastructure, security, and millions of global trust. These other ventures are trying to ride Bitcoin's coattails, but people recognize they were duped.

You know what? Nothing wrong with that. All part of learning. After trying dazzling new things and getting burned, many return to Bitcoin. Human nature. Yes, let other ventures come and go. It solidifies Bitcoin's crypto dominance. Bitcoin will be larger and better as the dust settles.

Not really, many will continue to look for new projects because they think they can regain what they lost with a more promising project but eventually they will lose all their money and then realize that it was all a scam. But many people after losing everything by investing in scam projects, they lost all will and refused to admit it was their fault, and they started considering all cryptocurrency projects as scams, including bitcoins.
The frequent failure of crypto projects will not promote bitcoin more but will instead make people consider the entire crypto market a scam. I think there will be positive and negative effects of altcoins failing for bitcoin but I think it will create more negativity for bitcoin.

I wouldn’t say wrong. Cryptocurrency is not just bitcoin however it is the best. I still think people are entitled to some of their preferences. I think bitcoin is my best option among others but I wouldn’t judge someone who doesn’t invest in bitcoin.

It is their money after all and I am in no way responsible of that.

You are right I agree with you. People who are new to investing may choose alt coin instead of Bitcoin without having a good understanding of investing. But I myself would suggest to invest from alt coin to bitcoin because I myself prefer bitcoin investment. I invest in alt coin several times but unfortunately I didn't get much profit from it, due to which I almost refrained from alt coin investment. Bitcoin is an investment that changes people's fortunes but don't invest in the addiction of becoming a millionaire overnight of course if you can invest with a long term plan you can definitely get a lot of success out of this recruitment. If we invest patiently with a long-term plan in investing in Bitcoin, we will definitely get a lot of money from this investment, which will increase our interest in investing.

Everyone can judge Bitcoin based on what they already know through their own research into Bitcoin at this point. Although there are still some people who have not invested in Bitcoin, they may not be able to do so at this time even though they already believe in Bitcoin. I also agree with your assessment because on the other hand I also don't really care about where other people's money they want to spend it, because what is our own responsibility is what already belongs to us.

Honestly, I think the days of everyone making their own crypto projects are kind of over, and the peak of popularity of this approach was in 2017. As for now, there are occasional hype waves regarding specific trends (NFTs, Ordinals, etc.), but those are temporary. I'm not sure Bitcoin is gaining strength from failures of useless altcoin projects, but I also don't think it's losing any of it, which is pretty good. While I agree that Bitcoin is a much more reliable investment, people are, of course, free to experiment with that, and unfortunately, some might feel discouraged to invest in Bitcoin after unsuccessful investments in altcoin projects.

Certainly after some time spent with altcoins people especially beginners will begin realise the need for them to acknowledge bitcoin as the most reliable coin for investment, most times people come into the industry through altcoins that they most have mined in any way, some through tempting rewards offered by the new hypes but history always shows that they turn to bitcoin as the remedy.

Sometimes I feel even after knowing what bitcoin can be and how it works I still like people to go and explore then when they see the result they will turn back to bitcoin because experience is the best teacher they can go and experience the pains altcoins can cause them.

During the period of 2017–2018, these were the times when many crypto projects failed that could be called crypto projects, and during these times, Bitcoin was really well known, not only in a good way because of the releases of crypto projects that were not successful in the end, but also because Bitcoin was used as a front for the failures that happened to crypto projects, something that should not have happened that way.

But in the end, most of them found out that Bitcoin was only used as an instrument in this matter, and even crypto was also used as a tool for scamming. Even now, it is still happening, but it is not like that year. because many people also became aware somehow.

Bitcoin and altcoins are profitable but in case of altcoins we cannot trust every altcoin because most of them turn into useless coins but if your success is greater than your failure then there is not an issue because we do everything for our success.

There should be different types of investment in different coins which we can continue to make profit but sometimes people understand this thing wrongly and invest in any altcoins without doing research first.

The better step is to buy both altcoins and bitcoin in which bitcoin should remain untouched for years and sell with a target price while you can sell altcoins anytime when you have profit from it.

altcoins=>tokens=>airdrop>bitcoin
At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has. When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.
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Bitcoin, being the first cryptocurrency, has gained a reputation as a "store of value" and is often seen as a safer option compared to other newer, less established projects. Bitcoin's history and robustness provide a sense of security that many altcoins cannot yet offer.

At some point it's for the greater good to let them burn for it's only in that way can some people learn to really appreciate the uniqueness of bitcoin among all other cryptocurrencies. The saturation of new crypto projects all over the space with developers promoting shits and others with a rug pull premeditated plan, it therefore makes bitcoin reputation in the market noncontestible to beat.  It is actually the greed of some investors and a  lacking of patient that makes them go after these new projects for fast profit.

A lot of people have to learn by experience before they’ll know that they’re not trailing on the right path. Most times, they can’t be blamed because they are part of the process, they are either going in to be used as a tool to  those that invent the project or their own way of naturally understanding that bitcoin is the best way and they should stick to it if they’d knew about it. Bitcoin continues to show huge sign that it is the best to invest in, but investors looking to increase their income have now diversified more to get profits from all side which to some extent can be justifiable. Just know what you trade with in order not to get too disappointed in the end of the experience.

There are some things that can be done to stop newbies from making wrong investments mistake, we shouldn't ignored newbies going the wrong way by asking them to learn from their experiences. We are here before them so we can help to guide them to avoid making mistakes. Investing in over hyped cryptocurrency is not good investment but many newbies are investing in over hyped cryptocurrency as they don't know but think that they're doing the right thing.

We aren't financial guide to newbies but we can give them some helps that will prevent them from getting scammed. The less individuals that are getting scammed will make more individual to trust cryptocurrency but if the scams keep rising we mightn't have any individual left that'll be interesting in investing by buying some cryptocurrency for holding as the media will keep saying the cryptocurrency market is a scam one that will only make you a loser.

Altcoins are pumping but they also do dump. Failed crypto projects do actually have positive influence on the rise of bitcoin in the market. This is no new thing because it's always been in existence since day one and we've all come to realized our energy towards these projects. Bitcoin is entirely different from the rest and I've watch closely how promising these projects have expand in the market. We should always stick to the promising ends of these project without actual focusing on them.

That's why I always tell to invest in Bitcoin first. There's no problem if they're using airdrops and tokens to earn but if they want to stay on this market, Bitcoin will prolong their money.

Unlike with such random projects out there, many aren't telling their losses because it's shameful on how they fell for these failed ones.

But if you're into Bitcoin, compared to them it will no longer 100x-1000x as what they're expecting but the grow it has is stable, slowly but surely.

Failed crypto projects may promote Bitcoin ore but they will also cause FUD in the crypto market. Because people will be scared of further investing after their loss. For most people, that’s it for them. They’ll grow phobia for all form of cryptocurrencies investment. Bitcoin is already famous. And if it must, it should rather grow at a slower pace than grow through the failure of fellow cryptocurrency project.

So many of these scam projects have already given a bad name to Bitcoin. It has done more harm than good to some people because there were people who already had a big interest in investing in Bitcoin, but because of the bad experience they had with failed altcoin projects, they decided not to invest in any crypto at all. Some people have misconceptions about Bitcoin because altcoins have caused them problems. It takes someone who is very determined to continue seeking the best option after they have been scammed by several projects. Anyone who loses interest in crypto after being scammed by several projects may not get to invest in Bitcoin again. 

ID you're are familiar with CZ Binance ex CEO speech about crypto, he always give reference to Bitcoin most of the time before he would mention BNB and that's because he understands the power of Bitcoin and how much power it carries when you say it before altcoins. He might love his bnb coins more in the backstage but always call Bitcoin before any other coins. This is the logic most altcoins are using, they know that they can't penetrate the market deeply without the mention of Bitcoin.

Personally, I don't see a problem with Bitcoin they are using to make promises. It's a good PR for Bitcoin and I believe Bitcoiners understand differences between Bitcoin and all this altcoins. Some people wouldn't still buy an altcoins if Satoshi was to be the founder of that altcoin, they prefer to have Bitcoin forever thing than associated their investment into any altcoins.

This is indeed a fact that must have been experienced by many early adopters at first. Because many of us first learned about crypto from altcoin projects and didn't start from knowing about bitcoin. but in the end everything will be answered and you will slowly realize that investing in Bitcoin is still much more profitable and safer. Or you could say it's not as big as the risk in Altcoins. But I'm still interested in both. Bitcoin for the future. And Altcoins to make quick profits in the medium or short term. It's just that if we don't have time to make a long analysis regarding an altcoin project then it's better to avoid the altcoin itself. And just focus on bitcoin.

No, I think most of people who are into altcoins often ends up converting their token to fiat currency.  For these people it is a sure profit so why should they convert their profit to Bitcoin?  After all those who are into altcoins mostly focus on profit by converting their tokens to fiat currency.  Only a few of them will think of converting their altcoins to Bitcoin.


I highly agree that most of these scam altcoins give a bad taste to cryptocurrency specifically Bitcoin.  So I do not think that failed cryptocurrency project will promote Bitcoin since most people especially newbies hardly find the differences between cryptocurrencies.  Worst, they will find fault on Bitcoin and retain their negative impression.

The thing is that whether a project fail or not Bitcoin surpass other cryptocurrency, no matter how a project is, there is always a limitations to ith existence which is the price limit, since Bitcoin was developed, no cryptocurrency has ever surpass it in price, is not as if investors do not understand that other project mat face dump along the line but is just as aa new project with high speculation, some investors be it new or old will like to buy to see if they can make profit but once it fail, bitcoin bevomes the next move, old investeors understand that any other project apart from bitcoin can fail anytime because the price of Bitcoin controls other crypto price thats why many altcoin hodlers always pray for Bitcoin price surge so that altcoin can gain relevance in the market, Bitcoin is growing more in publicity and I think most newbies in the business understand the worth and the authenticity of this digital asset.

All those altcoin/token/NFT projects are mostly being marketed to the crypto community. I highly doubt that someone outside the crypto community would be interested in such projects. It's usually the other way around. The people, who got interested in crypto buy BTC first, and then, some of them start buying altcoins/tokens/NFTs. Maybe your statement is partially true, but it's hard to gather enough evidence and data to prove such claim.
I have the feeling that most people, who lost money on crypto scams never touch crypto again(even Bitcoin) because of the frustration and the lack of trust towards anyone in the crypto industry.

I do not really think this is how things actually happen, in my opinion it is way more likely that once a person has been burned by investing in a bunch of shitcoins, that they will simply think about the whole market as a scam and leave this market forever.

The other option is that since those people would have lost a lot of money with those coins, that they fail to consider bitcoin as an option at all, as it will take them a long time to recover their losses, so they will keep investing in shitcoins hoping for a miracle that will never come.

I can testify to this because in my community here, I have seen and still observing how the least people to engage with crypto are now talking about it on a daily basis simply because of airdrop and some few pump and dump altcoins. These events are creating more awareness about cryptocurrency and Bitcoin indirectly, they have earned some reasonable cents from airdrops and some of them are now ready to participate fully in cryptocurrency. I know definitely that these pump projects or airdrop may stop some days or even fail them. Bitcoin will now be the only option left for them to turn into and begin to make investment. It's a matter of time and we are gradually getting there because if anyone can spend some few months engaging in cryptocurrency, they will certainly realize the potential of Bitcoin seeing how the whole thing is unfolding in the industry.

There is also another possible scenario: after they lost a lot of money investing in altcoin, shitcoin, meme projects... they realized that only bitcoin is a reliable currency Best and worth the investment. Bitcoin is the only investment that can help them regain what they lost from Altcoins.

Overall, the failure of altcoin projects will have a negative and positive impact on bitcoin and it all depends on our perspective. What is more important is that no matter how the existence and failure of altcoins affects bitcoin, we will have no way to stop them. So we just need to focus on our own choices without caring about others because it is their choice.

Indeed, someone bitten by a snake will be afraid of a rope as they say. When traders who are new to the market, face losses from meme coins and alternative coins, they get disheartened by the bad market. They will not understand this, but they will say that one person is worthless to the whole market. There are very few people who reflect on their mistakes, find the reasons for them, and admit that they have suffered losses due to their own inferiority complex. Such people recover quickly because then they find out what is the best place for us to cover our losses.

Memecoins and shitcoins are also major reasons for the popularity of bitcoin and a few alternative coins. Since so many people have been scammed by memecoins so far, now most people turn to Bitcoin, and few people turn to some alternative coin.

Everyone can relate to this especially those who have been here for quite a long time. Yes, altcoins were highly profitable way back then but with the emergence of unreliable and scam projects, people slowly turn their backs and leave altcoins. That’s when they realized that bitcoin is the real gem in the market. That’s why it’s not surprising why a lot have been investing into bitcoin right now, because they have found in bitcoin what altcoins do not have, that made them stick to it.

We have seen a lot of alts which did come and go. But in the early days of these alts, I believe a lot of us have gained from them. Remember etherdelta? For those who used this trading platform, at some point, you earned something from those alts. And yes, after such period, most of them were abandoned or just disappeared in the trading platform. And yet, btc remained. Hence, these traders understood the position of btc in the market. No matter what, btc holds its top position and won't disappear without a trace just like those thousands of alts.

And from those regular holders, once they got burned from those failed projects, they will swear not to be tempted again with the promise of these alts. However, we know they will try again but a lot of them will convert themselves to being a bitcoin fanatic and would just check the alts from time to time, but they already learned their lessons not to trust these alts for long. If they can sell it right away, they will do so. But holding long term is not on their cards anymore.

I remember that during 2018, there were a lot of scams that came out of ICO project campaigns that were just hyped to the communities that believed in their projects, and in the end, their plans would not happen according to the roadmap mentioned.

and because of the failed projects that came out of ICO, Bitcoin became popular because most people know that Bitcoin is the one that scammed them, but they don't know that there are cryptocurrencies that just copy Bitcoin's concept, and investors who believe in them can be fooled, so be careful because even now there are still such ICO projects.

The failure of altcoins only strengthens the trust in Bitcoin, highlighting it as the cryptocurrency with the lowest risk. It's important to remember that even during bear markets, Bitcoin often performs better despite price dips. We should be clear about our reasons for investing in altcoins but never neglect Bitcoin and other top-tier coins.

Just as scammers has come to have cryptocurrencies as a pond of fishing from vulnerable less knowledgeable Crypto holders with their sorts of attractive fake projects and their series of tricks used to convince their victims, so also newbies are vulnerable to easily befall on investing in their intended crypto Coins.

As newbies and unknowledged about cryptocurrencies, all they knows is that their vision is to invest on crypto with all hope that they would enjoy the attractive potentials of the coin they are investing on but unfortunately for them that due to lack of guidance, they are victimized by the so scamming crypto projects.

Most definitely if such keep to exceed it is variably affecting the utility of the reputable crypto currencies and in both adoptions on how many others would be interested to adopt the use of the crypto currencies.
It would definitely serve negative impressions within the people ought to be interested and desires to invest in the crypto market.

To an extend, I figured newbies are more quick to bring in more crypto adoptors to the crypto industry than those who had been in there because the people in the environment are likely to be convinced by the testimonies of their relative who is making it profitably in such an industry which they all had doubted about. So they would always want to catch up to the crypto industry before they are left far behind.