Stop chasing the "next" bitcoin

[onrise]

There is only one bitcoin. If you want to invest in cryptocurrencies you would be smart to look at the utility and applications of the coin you are involved with.

If people can find better alternate coin where they think that investing in that crypto will yield them better profits than they can invest in that as well because  if research done proper and future holds good then one can stay invested in such coins .

[freedomgo]

There is only one bitcoin. If you want to invest in cryptocurrencies you would be smart to look at the utility and applications of the coin you are involved with.

If people can find better alternate coin where they think that investing in that crypto will yield them better profits than they can invest in that as well because  if research done proper and future holds good then one can stay invested in such coins .

Well, that's correct, I believe major investors are not only investing in bitcoin but they also invest in altcoins.
The reason is because they also believe that altcoins has a big future, the crypto market will be getting bigger and bigger as more altcoins
will be created and even if bitcoin will remain the king or the most dominant coin in the market, altcoins still has plenty of room to grow.

[Don007]

There is only one bitcoin. If you want to invest in cryptocurrencies you would be smart to look at the utility and applications of the coin you are involved with.

If people can find better alternate coin where they think that investing in that crypto will yield them better profits than they can invest in that as well because  if research done proper and future holds good then one can stay invested in such coins .

Well, that's correct, I believe major investors are not only investing in bitcoin but they also invest in altcoins.
The reason is because they also believe that altcoins has a big future, the crypto market will be getting bigger and bigger as more altcoins
will be created and even if bitcoin will remain the king or the most dominant coin in the market, altcoins still has plenty of room to grow.

I think mayor investors invest only in altcoins they really believe in with regard to the future - altcoins which are different from BTC, altcoins that have other features or possibilities. Altcoins that are innovative.

Altcoins that are that different from Bitcoin might have a future as long as they're innovative. Altcoins which are similair as BTC might have future if they have a solid history and community - which is the reason I think many new BTC-"copies" are doomed to fail.

Overall, for me it's clear that I should stay true to Bitcoin for a huge part of my total worth. A small percentage of my wallets will be in altcoins, most of it is in BTC and will always be.

[xWolfx]

As a matter of fact it's not wrong to invest in alternate cryptocurrencies infact there are many who actually proved to be worth to invest it .

I personally don't invest in any other leaving Bitcoins.

Infact it's a personal choice therefore , it depends on the user because Bitcoin is meant for long term holding in my view , also alternative cryptocurrencies provides an excellent choice for exchanging when the price is high , they make excellent trade pairs.

They have some uses too , let's not forget about it.

I mean, you are right. I want to add though that even when they have their uses not all those uses will stay because they are not really necessary even when some people see it that way.

I personally only like Bitcoin and Ethereum and the others i don't really see the appealing of them. I have a long term mindset and that is the way i'm going to always see things.

[Jating]

Just think about this, bitcoin is the top performing asset this 2019, even outpacing oil and stocksl. So if that is not enough proof for others to invest in bitcoin and stop chase the 'next' bitcoin, then I don't know what to say anymore. 

[r1a2y3m4]

This is why I put all of my investments on bitcoin(MOST OF THEM ). I believe in bitcoin and mostly only at top 10 of altcoins. Probably 70% of my investments was on bitcoin and 30% for my favorite alts.

[Experia]

i am hundred percent agreed with this, most of the people are gambling to make some alts on their porfolio because they are still believing that it can give a huge profit but the key is on bitcoin itself just have patience.

[oseikuf44]

Will people stop chasing the next bitcoins as ICOs keep promising of providing the new bitcoin to johny just come into crypto investors? Almost all crypto projects are prototype on previous coins so reinventing the wheel is the norm now and people still believe there is going to be a new bitcoin for them to turn billionaires overnight.

[TheUltraElite]

i am hundred percent agreed with this, most of the people are gambling to make some alts on their porfolio because they are still believing that it can give a huge profit but the key is on bitcoin itself just have patience.

The situation with the bear market made people realize one mistake that they had been overlooking even if they knew it was wrong. They moved their view from bitcoin to different alts and now ICO holders are suffering because many ICOs are forcing investors to accept a KYC being done - thats literally a scam and investors are being forced because otherwise they lose ownership of their own coins which they bought at their own expense.

This is why there is a need of regulation in the ICO market or people should just stop investing in those schemes. Most are just pump and dumps for short periods and dont ever end up doing anything fruitful.

[Carollzinha]

i am hundred percent agreed with this, most of the people are gambling to make some alts on their porfolio because they are still believing that it can give a huge profit but the key is on bitcoin itself just have patience.

The situation with the bear market made people realize one mistake that they had been overlooking even if they knew it was wrong. They moved their view from bitcoin to different alts and now ICO holders are suffering because many ICOs are forcing investors to accept a KYC being done - thats literally a scam and investors are being forced because otherwise they lose ownership of their own coins which they bought at their own expense.

This is why there is a need of regulation in the ICO market or people should just stop investing in those schemes. Most are just pump and dumps for short periods and dont ever end up doing anything fruitful.

People will never stop investing in those schemes but I agree with you that there is a real need of regulation for all these ICO's we have around.. about the KYC thats bullshit.. the most interesting thing around blockchain itself is the privacity (or at least used to be)

[coin-investor]

Because blockchain and cryptocurrency is a young technology, people are constantly looking for the next big thing in the market, some people are lucky to find one or two coins with good potential, but many people are victims of a scam because there are so many scammers are now victimizing cryptocurrency investors.

[Roukawa]

Because blockchain and cryptocurrency is a young technology, people are constantly looking for the next big thing in the market, some people are lucky to find one or two coins with good potential, but many people are victims of a scam because there are so many scammers are now victimizing cryptocurrency investors.

You are absolutely correct, as bitcoin and crypto markets generally increasing again, new players are joining in and looking for information.

[OcTA Bd]

I agree with you. If you Chase for the next then there is also a chance of being fall down of price. Crypto world is changing in every minute, even in every second. So, from my point of view, if you had the chance to take out your money then you should. Even you can take out and invest in other crypto currency.

[Angel Rios]

Yes I agree with you. We need to stop chasing the next bitcoin but I think this ascertainment is quite obvious. Experienced traders or even newbies know that it's actually impossible that any of altcoins will be as impactful as bitcoin. Maybe in the really distant future, but not now. Equally, it doesn't mean that altcoins are nonsense. There are a lot of valuable ones. I recommend trading alcoins which are still developing.

[watchagotcha]

The coins that you are invest in should be chosen according to the degree of risk you can accept. If you cannot accept risks, put all your money in top1 or top-3 coins, and even if they start to drop, you will have a plenty of time to get out. If you can afford some risk, add top-50 and to-100 coin, and if you're willing to take maximum risks, add any coin that you believe has a great potential, team, and technology, and bring benefits to people. There's always a big chance you get rekt with altcoins, but do you remember December 2017? There were massive gains, x5-x100, and the luckiest holders were gilded.

[royalfestus]

there are a lot of space for growth in cryptocurrency and consider that to be more benefiting for trailblazing projects with outstanding idea that can attract fiat and cryptocurrency exchange. Interestingly, experience in this space can give better idea of the neglected demands in the space. I will consider most top 100 coin on CMC that were consistent throughout the bear market to have enjoyed this.

[Nellayar]

Stop chasing other cryptocurrency to be the next bitcoin. They never become bitcoin since btc is the most valuable cryptocurrency in the world and no one can compete with bitcoin even bitcoin cash whom said that they have capabilities to surpass bitcoin cannot surpass until now. Maybe, they can overtake bitcoin when it goes move down severely.

[TheUltraElite]

Because blockchain and cryptocurrency is a young technology, people are constantly looking for the next big thing in the market, some people are lucky to find one or two coins with good potential, but many people are victims of a scam because there are so many scammers are now victimizing cryptocurrency investors.

Even one or two coins dont make a difference. Thousands of coins on coinmarketcap are just copy-cats from bitcoin trying to make themselves look big by using something new and claiming itself to be the second to bitcoin, while such things dont actually exist. What the world needs is bitcoin and bitcoin only, nothing else is needed. But there are trader who like to speculate on altcoins prices because they are pretty vibrant market and easy to lose money in.

You are absolutely correct, as bitcoin and crypto markets generally increasing again, new players are joining in and looking for information.

New players coming in is a good thing. But let them enter altcoins and that new money will never be coming into bitcoin again.

[Cryptohistory7]

It's true that there is unlikely to be any other coin that will overtake BTC in terms of price and also how well-known it is, but there are plenty of good/leading altcoins in the market that are performing well. As a trader it may be wise not to put all your eggs in a basket - diversifying your portfolio is still important and it would not hurt to follow top altcoins in the market as well. This week as Bitcoin grew to $8,900, we also saw coins like BSV and BNB performing well against BTC - good to do proper research and invest in other coins as well. On the other hand, while smaller coins may not reach the level of BTC, it's also important to look at the project behind those coins and how they're being incorporated into a bigger ecosystem of processes/frameworks e.g. in data processing, payment processes, or industries such as retail, banking and even real estate. While the prices of these coins may never reach the level of BTC's, the potential for the usage/mass adoption of smaller coins is also something to look at.

[Vishnu.Reang]

The OP is absolutely correct. There was a time when we regarded Ethereum as Bitcoin 2.0. But a few years later, we understand that it is not the technology, but the brand name which matters. Ethereum is more advanced than Bitcoin, as far as the technology is considered. But then, it is not the original cryptocurrency that was invented by Satoshi Nakamoto.