Why Bitcoin is the only crypto you should BUY

[mk4]

It might be true that there are genuine and reliable cryptocurrencies but how can they be identified. Are there some indicators that might prove that they are not fraudulent or scams? The sudden failure and disappearance of some of these coins are very fearful and discouraging. And from all indications, there are no cryptocurrencies that have the same attribute as bitcoin. That's why I have always discouraged people from investing in other coins.

In the first place, you don't find cryptocurrencies that are trying to be/beat Bitcoin. That category is pretty much decided. The only investment-viable cryptocurrencies(in my opinion) are those that are acting like pseudo-shares.

As for indicators, heavy background checks on the team. But having a reputable and transparent team doesn't automatically mean it's not a scam — it just brings the chances down by a good amount.

[AicecreaME]

Bitcoin is good for beginners, because it doesn't require so much research before you could risk your funds on it, while altcoins is the other way around, that requires a lot of research before you should buy to avoid bagging shitcoins in your wallet. Bitcoin is the safest coin for me, the most reassuring coin that exist in the cryptocurrency market (my opinion only). I also like the volatility of it which gives you decent profits in the long run.

Altcoins are good as well if you got your research right and the developer didn't sugarcoat their goals in the long term, cheaper than bitcoin and good profit also in either short term or in the long run.

[woez]

Buying Bitcoin is a decision you have to make yourself. Yes, it certainly comes up with a lot of pros and cons but the cons are small compared to the pros. Diversifying your crypto portfolio is certainly something to consider but there is no need to lose sleep. If you want to get into the crypto market, Bitcoin I think will be your first stop and everyone else's.

Maybe one thing from me is to go ahead and buy BTC especially when you see a decline like now.

[michellee]

I've been in the space for many years and I've learned a few things that I'd like to share with you:

90% of altcoins don't do anything. They're made to make their devs money and that's it.
Out of that 10% legit coins most will fail and die because projects fail, get hacked, devs argue, teams break, some fail to gain traction, some choose a wrong promotion...
Think about it before you buy an altcoin. Most are scams and a few legit ones can fail, get delisted or crash because of manipulation.

Every few years there's a new big thing in crypto. ICO, NFT, Exchange tokens... All of these are shit. They're wash traded, pumped and dumped, they're worth as much as the company invests in them to make it look like they're valuable. When dust settles you can't even wipe your ass with your picture of an ape or a crypto punk. You bought something that nobody wants to buy from you, like that tweet of Jack Dorsey.

Every year an exchange gets hacked and every year a number of crypto businesses go bankrupt. The only constant is bitcoin. It is here and it's going to be here next year.
If you own it, you own it. There's no company, no CEO, nobody to tell you what to do, so do what's good for you, do what you feel is right.

I completely agree with you, you have summarized these last years in a post,such an idea to just hold btc for a long term,  thank you very much !!!

Yes, I also agree to hold BTC long term. You don't have to invest in altcoins if you are in doubt and it is better to select only ​​bitcoins, as we have seen how bitcoin has been going so far. And bitcoin is also good for new investors but they don't need to keep BTC on exchanges because of the risk of hacking, theft or other reasons.

And with BTC, the value of your investment can increase several times even though there will be a decrease like what is happening right now. But BTC has proven that BTC is worth holding by investors.

[dothebeats]

Easy answer: bitcoin has proven time and again that even after a series of crashes, it can still bounce back and people will still trust its ability to carry value for a period of time. Another is that no single entity can really control it, and if they dare did the community swiftly reacts to avert crisis, that's why we have a lot of bitcoin alts around due to these 'decisions' and so far it's good that those happen because you can see that the vision of other bitcoin alts really differs from the main bitcoin that we have. Lastly, aside from speculators' money, you have the mining industry that also, in a way, safekeeps bitcoin's value.

[Yatsan]

Bitcoin is a good investment but it would be better to diversify your investment WISELY, if you would be aiming for bigger profit from this industry. Bitcoin has the biggest tendency to have a price increase whenever the market behavior is on upward direction especially from down market. But the rate of increase on other cryptocurrencies or altcoins are just way bigger than with Bitcoin. Only problem with other coins is that it is hard to determine which is which. Potential is not enough because most of the cryptos are having very volatile market prices. But as investors, we do have different preferences; some would take risky assets because it generate bigger profits while some are more into bigger chance of just earning profit meaning, less risk compared to others.

[Maidak]

Bitcoin is good for beginners, because it doesn't require so much research before you could risk your funds on it, while altcoins is the other way around, that requires a lot of research before you should buy to avoid bagging shitcoins in your wallet. Bitcoin is the safest coin for me, the most reassuring coin that exist in the cryptocurrency market (my opinion only). I also like the volatility of it which gives you decent profits in the long run.

I think before investing in bitcoin should also do research, even though it is the safest coin on the market, if you don't understand how it moves and are a newbie when you see its price plummet you will start panicking or will assume it's a scam.

Another thing is that no matter how good bitcoin is, if it's not profitable for you it's useless, so need research and analysis to buy low price to be profitable, if you buy blindly and at $69k you will also be disappointed with bitcoin.

Altcoins are good as well if you got your research right and the developer didn't sugarcoat their goals in the long term, cheaper than bitcoin and good profit also in either short term or in the long run.

Altcoins are not bad, not good, just one person's point of view. Many people don't like it because they can't make a profit from it but many people like it simply because they know how to make money from altcoins.

[ethereumhunter]

That's because only bitcoin will increase so much compared to altcoins. We have seen the history of the development of bitcoin over time and we should be able to conclude that investing in bitcoin is enough for us to benefit in the future. But that doesn't seem to stop people from continuing to invest in altcoins so they keep looking for potential altcoins that can grow and improve in the future. But you don't need to rush into investing in bitcoin because you have to be able to determine when to buy bitcoin, especially if the price drops again. And that is a good time to buy bitcoins.

[DrBeer]

I beg to differ. On the one hand, Bitcoin is now in a position similar to the position of the dollar in the international economy. But with small nuances.
The dollar is backed by the power of the United States (economy, politics, army, status, etc.), and it is also provided by the interest of all countries to work with a convenient, reasonably stable, predictable currency. The currency that is "issued" by a country that can influence almost any process in our world!
What is bitcoin backed by?

If you really look - NOTHING! Well, yes, they burned terravats of energy, released millions of ASICs and similar devices, and the base currency on many exchanges is bitcoin.
But one question - does Bitcoin have properties that altcoins cannot replace to take its place, or even make a multi-currency assessment of the market, without a "main currency" in the form of bitcoin? The answer is simple - NO! If anyone can prove otherwise, I'd love to hear it!

PS Yes, there are whales, there are global speculators, but I think they have already made more than good money, and I think there will be another “pumping” of bitcoin, and then oblivion, like the history of currencies made of pure gold, which were replaced by “worthless pieces of paper”

[Lucius]

And with this I finish all the currencies are a scam(meaning that the price can disappear) for me, personally  the legit ones they are btc and tether.
What do you think?

I think you are living in a big delusion, because USDT is something called a stablecoin, and it is as stable as the company behind it - and if we know that at one point they admitted that only 70% of tokens are backed with USD, then it is crazy to believe that all things are clean and legitimate here. Therefore, you cannot put Bitcoin, which is decentralized, with stablecoin, which can be frozen at any time, in the same basket - or better said, you do not have the option to control the private key of what you own.

All these so-called stablecoins are perhaps the biggest fraud in the world of cryptocurrencies, and the biggest Trojan horse that any government can use to attack Bitcoin at any time. What do you think would happen if USDT, which has over $65 billion in circulation, freezes all funds for all users?

[albon]

The way I see it, all bullshit token and coin abandons are done for this one reason; they only have one purpose which I will explain better...
We saw Luna and FTT are made for a reason which is to support those companies themselves, the day these companies drop their token or their currency will drop too.
for me, personally  the legit ones they are btc and tether.

What do you think?

I agree that Bitcoin is the most legit and safest currency in the crypto market, and it is the most peaceful, fastest, secure, transparent, and globally accessible financial revolution in the history of mankind, far from governments, banks, and any human or central interventions. Wallet each of us must contain the largest percentage of bitcoin, as it is the currency that will not make us disappointed one day. The price of bitcoin is now cheap, and it's an awesome time to get it at a discount. For altcoins, we must be well-equipped with risk management to reduce losses.

[doomloop]

We are really seeing more and more reason why centralised systems is never an option for the present society because of the high rate at which coins fail due to diverse reasons and not just coins alone but also top exchanges . Bitcoin remains the ultimate choice for the sake of peace, guarantee and long term profit but with Tether anything can happen because its centralised it should be treated the same way altcoins are which is with extreme caution because nothing is safe in a centralised system not even the system itself.

Yes, that's true and thanks to these centralized exchanges and their centralized coins which have collapsed for making people realized that they are unsafe. Bitcoin is a decentralized coin that people should choose however I can't totally agree with you when you say that there is peace in btc because btc's value is highly volatile. Not just tether but anything can also happen with btc.

It's price can go really low or it can go really high that no one can ever imagine. Tether is centralized but lets admit it, it is also useful to prevent our coins from moving due to volatility. Tether is the most riskiest stable coin but there are other stable coins out there like usdc which are more trusted.

[Flexystar]

That depends on how you buy it and how you save it. One should not be buying the bitcoin itself if they don't understand the safe keeping of bitcoin in the wallets. Whether it is hardware wallet or software wallet, I think the concept behind it remains the same - safety of coins, your own keys, your own coins!
If so, then even altcoins can follow the same path. Considering the fact that they are now part of the system anyways, we can not do anything about them. To adopt them as well one can always store them on wallet with private keys. If not then there are plenty of coins to work with. Moving furthermore if there are none options then there is always bitcoin for our help. 

[Oceat]

It depends since most long term investors know the play of the market that's why some of them choose to invest some of the altcoins which is promising since they keep following the Bitcoin trend. It's also a good way to diversify your money and not just put everything on a single coin.

But in terms of long term investment and as a currency or asset, Bitcoin will be your number one choice besides of the land and metals. It's also important to know what you are investing even though we said that Bitcoin will be the best choice to invest but if you lack of knowledge on when or how to sell it then it's still useless to invest your money because you might lose it in the long run.

[2stout]

I know they say to never put your eggs in one basket; however, when it comes to crypto, you really can't go wrong with just only buying Bitcoin- look at the history.  Many altcoins have relieved many of their precious Bitcoin.

[Wong Goblog]

Bitcoin has always been the first choice because it has always been a measure of market performance, and until now Bitcoin has never been defeated by Altcoins, although Bitcoin marketcap continues to decline but has never reduced the popularity of Bitcoin, it has always been the first choice because it has proven to be the safest and pure decentralization while many projects using the concept of centralization.

[hyudien]

Altcoins were born inspired by Bitcoin, so every company launched tokens and coins. Regardless of what the end goal is, I don't think it can be generalized that all altcoins are scams. Perhaps more precisely you could say partially. You are right that Bitcoin is the only one that doesn't have a centralized company, but you should also know that there are altcoins that serve the same purpose as Bitcoin in terms of maintaining anonymity. Don't just because the Luna and FTT cases make it difficult for you but behind the scenes you are still using CEX.

[gantez]

Bitcoin has always been the first choice because it has always been a measure of market performance, and until now Bitcoin has never been defeated by Altcoins, although Bitcoin marketcap continues to decline but has never reduced the popularity of Bitcoin

If bitcoin marketcap decline this don't affect bitcoin, it can drop not for plenty reason but some altcoins newly enter inside the market and increasing the number of cryptocurrency so the new coins share part of the total marketcap and that is very low to the coins and that is why bitcoin popularity is not affected. Bitcoin remain the number one cryptocurrency, some people think of it as bitcoin is the only coin called cryptocurrency.

[Renampun]

Bitcoin is good for beginners, because it doesn't require so much research before you could risk your funds on it, while altcoins is the other way around, that requires a lot of research before you should buy to avoid bagging shitcoins in your wallet. Bitcoin is the safest coin for me, the most reassuring coin that exist in the cryptocurrency market (my opinion only). I also like the volatility of it which gives you decent profits in the long run.

bitcoin is the best crypto asset and also very immune to any pressure hence it is very good for beginners in the crypto market. Its price volatility is actually very profitable if it is used very well.

Altcoins are good as well if you got your research right and the developer didn't sugarcoat their goals in the long term, cheaper than bitcoin and good profit also in either short term or in the long run.

even though altcoins are much cheaper than bitcoin, investing funds (for beginners) there is not really recommended, it takes deeper research to be able to determine whether an altcoin is worth holding for the long term.

[Awwal08]

Using one in town project have so many disadvantage in times of maintenance, the cost of the maintenance is at high risk because fixing it is under probability that is what happen to the some of coins but in Bitcoin their is grantee for it because it is everywhere it spare parts are everywhere. This is my reason, and I not saying it is the fact.