Bitcoin Forum

Decentralization is the grand master utility in the crypto space, which unfortunately many projects can't wrapped themselves around, many new developers know this, but they got to make money anyway.

To make money out of you guys, they give promises using buzzwords, if they don't feed you lies how will they get your attention?

Bitcoin is decentralized but their new project is also decentralized and it comes with new features blah blah blah.

Let regulations come, let the pressure hit them hard, they will slowly shed their skin and move back to the centralized sides.

I have watched few privacy coins that called themselves decentralized turned back, I have watched a few decentralized projects turning centralized all of a sudden, they knew that nothing compares to BITCOIN.

But to get your attention, to make their marketing strategy hits, they need to use the BuZz WoRds.

Treat Bitcoin as Bitcoin and treat Altcoins as Alts, because that's what they are, at the end of the day nothing really compares to Bitcoin.

Beginners, if I were you I would be less worried about Bitcoin, it's proven already, and I will be more worried about others, the journey of making money through Alts is full of thorns, stay safe out there.

Yeah sure there are a ton of good reasons to be a BTC maximalist, BTC is solid and should be around for a long time. And even without going so far as to be a maximalist, I find that investing in projects and altcoins represents a lot of research and 'temperature-taking', often resulting in a lot of disappointment (but this is a personal point of view).

But I deeply believe that people who buy alts to get "rich quick" don't give a shit about decentralisation, P2P, the freedom that cryptocurrencies can offer or the founding principles of Cypherpunks.

However, at least there is one good thing about altcoins and memecoins. they encourage a lot of people to get involved in the world of cryptocurrencies, and some of them then gain a better understanding of the field through research and reading. They have the advantage of contributing to the demystification of the actual use of wallets, exchanges etc.. for the begginers.
How many times have I read on Twitter or Reddit, something like "came hoping for quick money, stayed because it taught me how money works"

Yes. BTC While the fundamentals continue to improve and what we really have to optimize here is the security and convenience of price and flexibility and buy before the fork otherwise you will probably pay more for bitcoin than it will be worth right after the fork and now you know everything you need to free your money from banks and fiat currency and don't convert your BTC to shitcoins ;D ;D ;D.

Some buzzwords such as DEFI have been used by centralized exchanges to deceive people that they offer decentralized services. Some of them claim that they are decentralized and even offer P2P services. Sometimes I wonder how Binance and Coinbase will claim that they offer such services meanwhile they will always ask for KYC. Don't be moved by these buzzwords because they don't mean what you think. Take time to read about the services they claim they offer and it will be clear to you that they are nothing but highly centralized platforms. Bitcoin has no competition, no altcoin has proved otherwise for now.

The opposite of "get rich quick" is "get poor quick". And many people have experienced the latter than the former.

People should also be aware that the bitcoin train has not moved yet.

This is another strategy that new projects use to get investors, telling them they will have been rich if they had bought bitcoin cheap 8 years ago, but now it is so expensive that they can never own a single unit of it, then in comes their cheap, promising coin/token which will in a few years replicate the growth of Bitcoin and you have the opportunity to buy early.

We may have majority of the supply already mined but we still have like 29 halvings to go which will have significant impact on the price plus the majority of the population is still yet to really know about or use Bitcoin, meaning we are still early birds.

- Jay -

Once the dev of a project starts to compare themselves to bitcoin just know that there is a high probability of that coin turning into a scam coin. Because of one em’ dev just want to captivate the attention of those that are into bitcoin by presenting their project as an advancement to what bitcoin has been able to achieve and if you take a closer look at the project you’ll find out that it has nothing to offer and the devs are only just sugarcoating the whole thing to make it look better.

Lying is the only key word every scammer or scam projects know how to do well. If they don’t do that, they can’t make a fortune of their investment. Now, the newbies coming into crypto having been told about how people make it rich in crypto falls for their cheap and honest lies without having time to do their own research about the project they are been told to invest. Some newbies already know that bitcoin is the best investment too, but waiting for the time bitcoin would even go X2 is what they can’t wait for and will rather go for other projects that don’t have ROI even for a long time. Let it be know that bitcoin is the only decentralized cryptocurrency, asides from bitcoin, you’re just taken a risk into an investment.


Yes, only few people have really made a lot from investing in other coins. Most of the good news of investing in cryptocurrency is for those that own bitcoin. Some of the good news coming from altcoins are not all proven to be true but to lure their victims into investing again in their new projects.

Fakes products in the market will always be made in imitation of the original accompanied with sweet buzzwords of big returns  to attract In heavy clientage therefore it shouldn't be surprising to us when we see how these new project are compared to bitcoin. That's the easy strategy to successfully deceive new crypto users that lacks the understanding that with bitcoin there's next to none, and any other dev project can only pump at it's birth just to dump never to pump after gathering a whole lot of assets leaving the investors in a damaged loss. This can't and have never been hears of bitcoin .

There is a difference between the currency being decentralized by design, but due to mismanagement or use, it turns into a centralized model, and the currency being centralized from day one but making false promises that it is decentralized.

Also, the use and belief in the idea is what makes this currency decentralized in addition to the possibility of making a profit. If the miners do not get profits from bitcoin mining, then the currency will become centralized or distributed, similar to Ethereum and some networks such as BSC, which says people try to believe that it is decentralized, and in every hack Coins are frozen in wallets.

Grin is an example of a privacy coin, but without development and an increase in price, it will turn into a dead crypto.

I have come across this kind of promotional statement by some already failed projects and some that are still struggling to survive; many of them even talk about it on the AMA. using it to convince people that this could be the next opportunity to grab what they couldn't in the time of bitcoin, which usually makes me look at such projects as scams as they don't have anything that they are truly capable of doing rather than their cheap convincing pattern.
 
Most people usually fall for the talk, while others don't, but it's really important if people can be able to detect lies from projects that talk so much about doubling their investment, as what I usually take from such talk is that the project owners are so much interested in doubling whatever they have invested in their scam project and rug pull.
 
Bitcon is here; 10 X might not come anytime soon, but anyone who holds for a long period of time will definitely enjoy the benefit of holding rather than running to some projects for fast profit, which turns out to be the opposite for them most times, losing money while chasing profit.

Many new initiatives strive to appear decentralized in order to attract investors' interest because many people are now well-informed and educated on the effects of centralization in cryptocurrencies as a result of their previous experience with FTX, Luna, and others. The new project teams claim to make everything about the project transparent, but restrictions will force them to betray their commitments.

No decentralized coin will be like Bitcoin because I don't think that there will be complete transparency because the project will have team members behind it.

Bitcoin investment is the most secure and reliable investment in cryptocurrency because Bitcoin is transparent and has less risk compared to altcoins.

more newbies have no patience for Bitcoin. they know Bitcoin is best, but what they want is profit in a short time. beginners come for the meme coin project. hope that the fast pump will bring several times the profits. some focus on altcoin trading with their gambling for lack of better skills.
until in the end, they will realize by themselves that Bitcoin is indeed the best for them. they just need better planning and patience to get maximum results.

It's not easy to make money in any category. We can say that making money with bitcoin is like climbing a mountain with stones.
We have to be patient and keep climbing and dodge the stones to reach the top.
We have to hold strong, keep holding while avoiding the minor dumps in between to reach a new all time high.

Some deceive newbies by telling in bitcoin they can easily earn money by just buying bitcoin or on investments they like to join. That's why there are times that newbies fell short especially when they invest on hyip or other scams in this industry. Its good to be realistic by teaching anyone about bitcoin so that they will not expect something huge without doing anything. Research is always important even if we buy bitcoin since its technicalities is also important matter than need to consider.

Yes. Another term to put something in its place. Don't work as a gardener to do construction work because they are not related to each other.
Bitcoin is BTC that will always be there even if they don't ban it and Bitcoin is not an altcoin.

The OP is right that don't worry too much when the price is having trouble moving. Bitcoin is not only limited to price, but there is something more valuable, namely its value, including all the advantages contained in bitcoin.
Let me add again that Bitcoin is not a fraudulent coin. So for beginners, don't worry even though on the way you will get various negative issues about bitcoin.

People should also remember that 10ⅹdid not come quickly in the past.

Bitcoin hit $100 mid 2013 and reached $1000 early 2017 which is a distance of about 4 years showing that the early investors also needed patience to reach certain price targets as we do now.

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Bitcoin is a long term project, altcoins are short term gambles that we should not take if we cannot bear the risk involved.

- Jay -

Yes, I totally agree with this statement of yours as written above, because this day you see a lot of newbies investing in Bitcoin with the mindset of getting g rich overnight as if the project became that successful overnight, forgetting the fact that it take the project a whole 4 years to hit it's first $100 and likewise taking it good 8 years to hit another milestone of $1000, of which whoever that is investing in Bitcoin now should know that in other to make good profit out of it, one just need to hold it 4 years or more, as it's one project that have proven to stand the test of time.

I'm sorry but that maximalist speech toward beginners is just boring and misleading as hell. Bitcoin is here since almost 15 years now, so if it could change the world alone, that would already have been done. Unfortunately unlike many altcoins, it hasn't evolved during its long lifetime, it is still slow (10minutes by confirmation) and expensive(you have to pay several dozens of cents at least by transaction) and technologies used to try to enhance it like Lightning Network are not satisfying, they are not convenient to use and they are not adopted by merchants and platforms. What is currently fueling interest toward cryptocurrencies is non-Bitcoin technologies like smart contracts, web3 dapps, Defi, NFTs, dex, etc. And I think global adoption can come from them, because they are bringing new use cases and services to humans.  

As far as somebody or a group of people on the project then it's not decentralized. It can only be decentralized when it is not owned or controlled by any entity. It's very difficult for coins to achieve this. That is why they're very few. The people creating the coin want to make money and they won't be able to make money from it if they do not have control over it. You can make money from something you don't own.
There's no point getting enticed by these projects. Oftentimes I see phrases like "this is the new Bitcoin" and so on. They're all bullshit. They come with so many incentives but you should know that they're shit.


I don't think there's anything wrong with investing in altcoins, even if it's to get rich quickly. If they feel they can invest in a coin that can give them 10X their investment in a month then they can go ahead.
What they should know is that that is all that coin is. It would most likely die off after the hype.
People should know that these are short-term and very rriskyinvestments. If you feel it's worth it, then fine.

They will never understand this.

They keep flaunting of how much they've gained with their alts but that's not the point. Yeah, they've made some but what's next? They're going to take a look for the next gem?

Whilst Bitcoin was already a gem that's never been gone and whatever the trend is, Bitcoin has remained to be there. No matter what buzz words they use just to make people get along with them.

Nothing beats Bitcoin and no matter how trying hard new projects are to dethrone it, will never happen a lifetime.

The cryptospace is largely moved by trust as not many things are easily or could be verified. Most turns out to be written promises just to draw more investors into picking a package or investing in their project. Often, this turns out to be a wrong move to most. No thought there are those that benefits from the introduction of new projects but, the profits is always on the project team.

Bitcoin happens to be the safe zone for newbie investors in the cryptospace although, you’ve got to be well disciplined and equipped with a great amount of patience not yo be moved by the FUD that drags the market most times.
Many might prefer altcoins because it’s relatively cheap and if you’re lucky, you could make over 1000x on your investment but is it always the case? You guys know better from experience and with that, you know where to direct your investment funds.

Decentralization is one major argument, the other equally important argument is that Bitcoin is developed by hundreds of highly skilled enthusiasts. It's possible to imagine that someone tries their best with their altcoin project and maybe their idea has some potential, but it's not likely to succeed because there's just a few people working on it. So it's like 99% of altcoins are scams, and the remaining 1% will fail anyway, so Bitcoin hss no alternatives.

there is no Altcoin that is comparable to BITCOIN, until whenever Altcoin has never been able to compete with Bitcoin. some privacy coins claim to be the best decentralized, in fact they never got public recognition as the best decentralized. Bitcoin fundamentals have really been established, the security and convenience of investing in Bitcoin has encouraged many people to compete to get different amounts of Bitcoin depending on the capital they have.
I would rather trust my money stored in Bitcoin than Altcoins and Banks in fiat, My belief in Bitcoin is not without reason, there have been many investors who have succeeded in enjoying profits while holding Bitcoin and I want to be one of them.

They truly were, those written promises are what's the catchy part of these projects that goes into this market and offers their capability of whatever product they're introducing.

But most likely, they don't really have the product but what they're offering are the tokens that are just reinvented for some of its features that they don't see in other projects.

Even if we tell them for so many times that they should start investing in BTC, they won't obey that because they think they know better already not until they experience the worst of having to dump those wrong tokens they invest.

Only an ignorant and foolish person would even think of trusting his fund in altcoin that are there in the market although I can speak if all altcoin are shit coins but I know for certain that bitcoin supercede all of them and bitcoin has already proven it's worth, value and reliable over this many years so why won't I put my trust in something I already know will be worthy than something that's is under probability. Well there is this saying which covers all what am trying to express and it's "" the devil you know is better than the angel you don't know ""

Investing in altcoin is putting your money at risk anything can happen because you are not part of the dev. Crypto project teams knew what Bitcoin intended to solve and for them to sell out their token they needed to make a lot of empty promises even to the extent of telling their communities they performed more than Bitcoin itself. If they want to carry out their presale they attach a 30% bounce to their presale and tell their communities they will list higher than the presale price, and also say they have kept some marketing strategy that will pump their token when listed in an exchange, all lies. If you see such a thing in any crypto projects just know that it's a red flag and keep your funds away from such projects. Anything that has value will never beg for attention people we surely go for that thing. Bitcoin investment is the only way to keep your money safe.

That is true. So many newbies have fall prey to these scams and lost millions collectively.
This is why forums like bitcointalk are a must for every newbie to enrich their knowledge in crypto.
I think every newbie should visit this forum and read posts in here at least for a few months to get basic knowledge of cryptocurrencies.
Although there are blogs, videos and tutorials for various crypto products but nothing provides as much knowledge as this forum.

Most of those blogs are not rich compared to the knowledge here and some are information that is already passed here a long time ago before it is shared on other media. Most of the social media marketers and contributors or influencers visit this forum one way or the other, that is if they don't have account here to say the least. So this is a very rich source for cryptocurrency information and almost as old as the creation of bitcoin.

You can easily become one of such people but you will need to invest a lot to make good return of investment from Bitcoin, Altcoins are not completely bad and you can also use them to speed your Bitcoin bag a lot compared to buying Bitcoin direct.

Altcoins can never be as good as Bitcoin but you can join the race as there are too many people who believe in alts and still invest in them, since Bitcoin value is way higher than altcoins, this makes getting insane ROI very hard, but it's not with altcoins.

You can make money from altcoins and take profit to buy back more Bitcoin, this is one of the few ways I've used to increase my Bitcoin portfolio, not a financial advise as Altcoins comes with lots of risks, the choice is yours.

That's right, judging from the price of BTC, the decline today is not very significant if you look at the market reaction, how busy traders are who are focusing on altcoin short patterns with the current decline until they are confused about which one to buy...he, he. Yes. Currently, many people are losing and even if someone is making a profit, it means he is always monitoring the price and continuing to place bids below the current price.

There is no doubt about this forum, Bitcointalk is the orientation of all crypto users and is the main source of forums that discuss crypto thoroughly. There are many useful threads on this forum and various discussions that provide the best explanations for all questions regarding crypto. Influencers, whales etc. are all on this forum and they are starting to make this forum their main source. and Bitcoin is one of the main topics that is often discussed, we have a ton of information about Bitcoin here.

There's a level you would have gotten to in cryptocurrency and be able to know the difference between left and right, this means you would have developed some level of experience that descern evil from good, fake from genuine projects, crypto from shitcoins, this also has to do with the exchange used, how reliable they are and how you understand many other things you do in cryptocurrency in terms of security and safety, then i don't think anyone can come bragging about fake news or projects to us without us having the feelings if they are genuine or not.

Bitcoin will always be the king of the crypto. There are many reasons why any other altcoin won't be replaced with Bitcoin, and the main reason is that it is truly decentralised and community-driven. Thousands of projects have been promising to be truly decentralised. But the reality, as you said, is just to draw attention. We like to gamble with them, and that's how they have been raising funds. It's all about earning money instead of caring about decentralization.

I agree. The journey of investing with the intention of making some money with alt coins is in my opinion, risky if you haven’t much idea on what you’re doing. People venturing newly into the crypto space have little knowledge about bitcoin and even have a lesser understanding about the numerous alt coins out there.
 
Bitcoin has and is continuing to prove itself, aggressively withstanding the test of time despite major pushback from governments and financial institutions. A lot of alt coins have been put out there combined with the creation of CBDCs, all in a bid to rival the dominance of bitcoin in the crypto space but bitcoin has surpassed them all. Your money is better off in bitcoin than any in alt coin I know.

That's business. Most projects other than Bitcoin will prioritize profits first apart from the development of the project. This is basically very different. We know how the creator of Bitcoin doesn't even want to show himself, because not just for profit, not for fame or anything else, but indeed as the initiator of the existence of a cryptocurrency that will be accepted as much as possible by the world. And Bitcoin took years to truly become more accepted in all circles, going through various problems and obstacles that made it even more valuable, and made Bitcoin even stronger as a truly valuable cryptocurrency.

Meanwhile, other cryptocurrencies? They are created by companies or several people who of course also have an interest in making a profit from the projects they create. Even now, there are many projects that only focus on how to create hype and attract a lot of attention from potential investors. various sweet promises were given and incessant promotion to make the project even more hype, as well as creating FOMO. And after that, they didn't seem to care whether the project would continue to survive and develop or not. Maybe not all projects other than Bitcoin are like this, but many are like this. Except for a number of altcoins which have been solid and developed for a long time and are increasingly having a significant increase in value.

The crypto market is more about how you sell your project then what the project can actually do. Only a few investors do their research and the rest rely on hypes and the marketing of the project to invest because they invest based on what they're been told from advertisment or paid influencers. People want you to sell them how rich they can become from investing in your project and that's why they go after flashy projects that usually has nothing to offer but just hype and empty promises that'll never be fulfilled until the project finally dies. Altcoins can't be compared to Bitcoin because altcoins are inferior in all categories. Altcoins aren't totally decentralized and they need buzz words to sell or they won't see interest in their projects.


They could also not worry about others but ignore them totally and focus on investing in Bitcoin. Bitcoin is proven already and this means you won't lose your investment if you choose to invest in Bitcoin and forget about other altcoins. Investing in only Bitcoin can also give you a big profit and most times it give you more profits than altcoins because altcoins die without giving you any profit. There's no altcoins that can be created that'll be more decentralized like Bitcoin or gain the amount of trust that Bitcoin has gotten in the industry. There's none that'll have the longevity as bitcoin so it's better we stay with Bitcoin than altcoins.

No institution, government or policy made under a centralized authority can work in our favour with how bitcoin has always been a solution provider in giving us reason to laugh concerning the challenges with our financial economy, i remember when they introduced CBDC newly with the hope that it will renders the use of bitcoin less effective and people will begin to rush in using it since they both appears a digital currency, but one is fiat and the other cryptocurrency, the exact solution is with bitcoin, people know what they have seen in this decentralized digital network and that's why they have no choice than to embrace it when bitcoin was introduced.

They cannot figure out how to make it decentralized and still earn alot of money. Satoshi made it decentralized and still had the highest share of bitcoin.

It is full of thorns, such that it is considered gambling to many people. And it is not everyone that is willing to gamble, that is why many stick to bitcoin

Oh, it's moving but it's a really slow train so we perceive it as if it's not moving, there's about 100+ years left for people to get into bitcoin if we're talking scale of time. Regarding the strategy of other altcoins to compare bitcoin to their product, I think that it's a fair thing for them to do, I mean if you're that person, you would probably do that too and there's some altcoin out there that really did pumped like Ethereum.

Well money is money anyway. Can't blame those devs wanting to make money anyway.

Everyone could just slap a technical stuff to people and expect them to bite their baits to it. The nEw BiTcoin blah blah blah. There is only one Bitcoin and we know that more than what we think.
Kinda cringe when projects claim that they would replace x coin regardless if it is an altcoin or not.

Well said. Bitcoin is the only asset that will stand the test of time. Nothing else can even compare.

That's right, bitcoin is reliable, altcoins are just toys in the hands of investors and speculators. There is no need to look for decentralization in altcoins. If a project has a group of developers, has main investors and partners, has funding rounds for funds, it is definitely not decentralized. Such projects will always be centered around a certain group of holders who have contributed their money to the development of a new product.