Bitcoin is the smart choice not the entire crypto industry

[Ojima-ojo]

As the quest for global adoption of digital currencies due to the high rate of inflation in traditional papers money keeps surging, attention has been shifted to cryptocurrency as the hedge against the inflation and economic recession that is ravaging the global economy,
And those of us who are early to adopt Bitcoin and seek to build knowledge as regards the technology is seen as the most smartest set of people among the general public.

But one of the major set back against Bitcoin's global image is the presence of other coins who are centralized and highly vulnerable in term of volatility rate and price stability occasion with uncertain events that happens within other centralized cryptocurrency platform.
Even with all this, Bitcoin have remain untouched and it users are the only one who are safe in this time of crisis most especially those who store they bitcoin in their private wallets.

So in conclusion: Bitcoin is the blanket cover for what cryptcucrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people, not those holding and gambling with shitcoins.

[1714587133]

1714587133

[1714587133]

1714587133

[1714587133]

1714587133

[Queentoshi]

Bitcoin is the blanket cover for what cryptocurrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people, not those holding and gambling with shitcoins.

People who do not know that there is a difference between bitcoins and cryptocurrency will easily discourage anyone from buying bitcoins when there is bad news about one of the cryptocurrencies. For example, some people were quick to say don't buy bitcoins because of the stories about FTX and Sam, they have generalized every problem with cryptocurrency to be a problem with bitcoins, and it is misguiding them. We have to let as many misguided persons as possible know that Bitcoin is a cryptocurrency, but not all cryptocurrencies are bitcoins.

[franky1]

remember one defining feature that puts sway towards value of one coin vs another

PoW has underlying costs for coin creation. this means coins are not "printed"(minted) for free

this puts an underlying value on pow coins
the most efficient cheapest way to acquire coins does not sit on the markets. but in the realms of OTC private trade and mining. with mining by the most efficient methods on the planet being the base.

calculating the cost over a 6-12 month scale of the most efficient industrial scale mining in the planet gives you the base cost. which sets the underlying value everyone on the planet will refuse to sell below

bitcoin has the best cost support for highest value of all coins. (warning unless bitcoin breaks and everyone jumps away from bitcoin mining pools)

other coins are more speculative with lower cost value where the market price above their bases are more sentimental rather than fundamental

[Piesel]

Everything was fine with proof of work coins before the introduction of the ehtereum blockchain that give rise to the layer 2 blockchain which network support all manner of coins and network making it cheap to mint coins and tokens out of nothing, which opens the door for scams other bad situations in the blockchain.

If all coins are built on the Bitcoin blockchian which is somehow difficult due to pow algorithm which will give the coin an underlying value there will be less bad news and events, otherwise, Bitcoin will have to continue to move in the dirty water with other altcoins to succeed the market to continue to be a dominant coin.

[franky1]

building systems  of subnetworks from the bitcoin blockchain is not difficult. bitcoin has the UTXO locking mechanism.. the issue. which also is a big issue for all tokens(IOU's) of subnetworks is the pegging side of the subnetwork

its for those sub networks to ensure that the locked coin of a mainnet which the subnetworks use as reference is actually a subnetwork of rule and protocol to correlate/peg/match and not be able to be abused/depegged.

take some flaws:
1. subnetworks that use multisig. may have a federated group of individuals that do a 2of 4 multisig on the subnetwork
however users AB sign funds of payment with a 500sat fee paying ABCD users fairly and evenly the remainder
yet users CD may make a tx of paying just CD with a 600sat fee. by with CD win a confirm when settling

2. subnetwork multisig partners co-sign all their subnetwork payments that match their token value presumption of a 1:1000 rate

however when seeing 100,000 tokens in the GUI thinking its 100sat owed to them upon settling.
the wallets of the subnetwork have been updated to change the peg to 1:100,000
where by the low level clients still see they have 100,000 tokens at GUI but are signing that they only get 1sat upon settling
and cant see it because the phone wallet GUI does not have any subnetwork consensus or peer review audit of internal payments of the subnetwork

[348Judah]

But one of the major set back against Bitcoin's global image is the presence of other coins who are centralized and highly vulnerable in term of volatility rate and price stability occasion with uncertain events that happens within other centralized cryptocurrency platform.

Why then should the bitcoin network have any concerns about other cryptocurrencies whenbthey were not attached to each other, that's why bitcoin bis bitcoin and independently bitcoin and the first digital decentralized currency, other cryptocurrencies were often refers to as altscoins and non of them is associated to bitcoin or be linked to it except if you're been scammed or got misinformed by them.

Even with all this, Bitcoin have remain untouched and it users are the only one who are safe in this time of crisis most especially those who store they bitcoin in their private wallets.

Yes, your bitcoin in a wallet you have the keys to are referred to as your coins while those you had with exchanges bearing your keys with them are not your coins, which is a simple explanation of not your keys not your coins.

So in conclusion: Bitcoin is the blanket cover for what cryptcucrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people, not those holding and gambling with shitcoins.

Only if the bitcoin you hold is in your decentralized wallet, bitcoin have nothing to do with altcoins because they were two different networks that operates under different protocols.

[Wapfika]

Bitcoin is not the blanket of crypto as you are describing since it’s utility is same with other crypto existing. As blanket Bitcoin will cover the whole aspect of cryptocurrency which is not in reality since Bitcoin can’t handle scalability issue in case other blockchain don’t exist.

We can categorized Bitcoin as the only gem in cryptocurrency world because it’s the most precious among all cryptocurrency despite there same category because Bitcoin has the decentralized feature which other currency didn’t meet.

[uneng]

Bitcoin is supposed to be the main investment in cryptocurrency for every investors. It's advised to have a portfolio of 90% in btcs and only 10% or 5% in altcoins.

Altcoins aren't totally excluded because they also give access to interesting benefits for some investors, which they can't find on bitcoin, so they go for those altcoins as well and we can't say they are wrong for investing this way. Although they are more risky than bitcoin, the potential is still there, anyway.

It just need to be a calculated risk.

[Leviathan.007]

Bitcoin is the blanket cover for what cryptocurrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people,

That's exactly a good point you made here because I also see many people thinking bitcoin is just the same as the other regular cryptocurrencies in the market and sometimes when a cryptocurrency project fails in the market many people will think that is situation is the same with bitcoin and bitcoin is going to fail as well while these two are really different and digital currencies are even more different if you know the definition well.

[suzanne5223]

But one of the major set back against Bitcoin's global image is the presence of other coins who are centralized and highly vulnerable in term of volatility rate and price stability occasion with uncertain events that happens within other centralized cryptocurrency platform.

The blockchain and cryptocurrency market is an extensive market. I don't see any reason why the presence of altcoins is the major drawback for Bitcoin's global image if investors themselves educate themselves about cryptocurrency investment.
I know you see altcoin as a drawback for BTC's positive global image due to some scam, rug pull, etc done by some altcoin team. However, this is expected in a market that is full of opportunity.
It's the investor that needs to wise up.

Even with all this, Bitcoin have remain untouched and it users are the only one who are safe in this time of crisis most especially those who store they bitcoin in their private wallets.

Let's not forget that there's something that also impacts the price of Bitcoin. Yes, Bitcoin is the safe haven in cryptocurrency investment but nothing is ever safe.

[alexandr1115]

Bitcoin is the blanket cover for what cryptocurrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people,

That's exactly a good point you made here because I also see many people thinking bitcoin is just the same as the other regular cryptocurrencies in the market and sometimes when a cryptocurrency project fails in the market many people will think that is situation is the same with bitcoin and bitcoin is going to fail as well while these two are really different and digital currencies are even more different if you know the definition well.

I don't understand why you separate altcoins and Bitcoin in this way?? What's the point of that?? Does it look like you're trying to separate a huge part of the market from bitcoin?? By a huge part of the market, I mean altcoins! I believe that altcoins are very important in the cryptocurrency industry, and for some unknown reason you are trying to separate them! Of course, bitcoin is more reliable, of course, it is the main one, but it doesn't seem quite right to separate it from altcoins so categorically! Because these are all cryptocurrencies, and they cannot be divided among themselves!!

[PrivacyG]

You know what.  This can turn into a very long debate.  While it is stupid to ignore Bitcoin's immense success since its launch, Year To Date we are down enough to agree that in some cases at the very least, Bitcoin does not offer a proper hedge against inflation and recessions.  Now the big question comes.  Is Bitcoin really a hedge against negative economical events?

Because if you invested in Bitcoin on the first day of this year, you would be on a big loss.  If you include this year's hyper inflation which further decreased the purchasing power of Bitcoin, you got an asset which certainly does not fit the description of something providing some sort of safety against inflation and recessions.

But on the other hand, if you invested years ago you would be safe today.  However.  If Bitcoin can drop during inflation, and can actually drop significantly.  Do we consider it a safe alternative to, say Commodities?

-
Regards,
PrivacyG

[South Park]

Bitcoin is supposed to be the main investment in cryptocurrency for every investors. It's advised to have a portfolio of 90% in btcs and only 10% or 5% in altcoins.

Altcoins aren't totally excluded because they also give access to interesting benefits for some investors, which they can't find on bitcoin, so they go for those altcoins as well and we can't say they are wrong for investing this way. Although they are more risky than bitcoin, the potential is still there, anyway.

It just need to be a calculated risk.

This is what I think as well, if some people want to take additional risks with altcoins in exchange for bigger profits or bigger losses I am fine with that, what I disagree with is the huge allocation of capital those people decide to assign to altcoins, after all if someone invest just 10% of their money in altcoins while the rest is in bitcoin, even if they made a catastrophic mistake they will only lose a small portion of their capital, which can be easily recovered by bitcoin and by themselves as time passes with money they happen to save each month.

[Falconer]

So in conclusion: Bitcoin is the blanket cover for what cryptcucrency and digital currency stand for and only those that hold Bitcoin should be seen as the smart people, not those holding and gambling with shitcoins.

You can't say all altcoin are shitcoin. I believe in some altcoins mainly because I invest in them. I don't expect all of those altcoin to be great to have in a portfolio let alone their use cases. Indeed, so far bitcoin is a smart choice based on the innovation that is in it. Bitcoin is a currency, a hedge, a long-term investment, and more, but never conclude that all altcoin are shitcoin when you and many others know that it will support the growth of this industry.

I don't think everything you say will be supported and will be justified. But I totally agree that bitcoin is a smart choice as a currency and investment asset. You can 100% believe in bitcoin, but you can't get everyone to abandon altcoin just for bitcoin.

[NdaMk]

what I disagree with is the huge allocation of capital those people decide to assign to altcoins,

Its simple, these set of investors aren't into crypto space to probably hedge against inflation or for all the benefits bitcoin has but just for profits. Although bitcoin also brings profits but not massively like some of these shit coins. People want to invest few thousands for a profit of millions and this so called altcoins promises this. You use the Terra luna coin for a case study you will notice that it pumped high and people got lots of income and this lure more people to invest almost there life savings in it and then the crash happened.
Although some of these altcoins have holds of staying up for sometime but I don't see them been hand picked for future investments

[Piesel]

Bitcoin is supposed to be the main investment in cryptocurrency for every investors. It's advised to have a portfolio of 90% in btcs and only 10% or 5% in altcoins.

Altcoins aren't totally excluded because they also give access to interesting benefits for some investors, which they can't find on bitcoin, so they go for those altcoins as well and we can't say they are wrong for investing this way. Although they are more risky than bitcoin, the potential is still there, anyway.

It just need to be a calculated risk.

This is what I think as well, if some people want to take additional risks with altcoins in exchange for bigger profits or bigger losses I am fine with that, what I disagree with is the huge allocation of capital those people decide to assign to altcoins, after all if someone invests just 10% of their money in altcoins while the rest is in bitcoin, even if they made a catastrophic mistake they will only lose a small portion of their capital, which can be easily recovered by bitcoin and by themselves as time passes with money they happen to save each month.

To some extent, when you talk about investment and risk we should consider altcoin discussion as 90% of altcoins are worthless and their sustainable approach to market development is short which is why altcoins can only be considered for short-term investment.

Holding altcoins is the same as gambling you can lose all your money, and you can't rely on altcoins then you should be ready for the high volatility risk.

Because the altcoin market is full of tokens and coins without user cases to sustain its price on the stock market, only the developer has total control since their can mint new tokens at will.

[Sanitough]

Bitcoin is supposed to be the main investment in cryptocurrency for every investors. It's advised to have a portfolio of 90% in btcs and only 10% or 5% in altcoins.

Altcoins aren't totally excluded because they also give access to interesting benefits for some investors, which they can't find on bitcoin, so they go for those altcoins as well and we can't say they are wrong for investing this way. Although they are more risky than bitcoin, the potential is still there, anyway.

It just need to be a calculated risk.

Bitcoin should always be the top crypto choice other than altcoins because we have seen and heard that bitcoin still dominates the rest of the crypto investments. Although it’s way more expensive than altcoins, but sometimes we also need to take some calculated risks so we can also be a lot more profitable than our regular income. Altcoins may also have some big potentials to be successful in the long run, but only few of them survive in the end. But with bitcoin, you know it will always be successful especially if you make it a long term investment.

[Tanvi50_]

Bitcoin was the first decentralized digital currency, and it has the largest user base and the highest market capitalization of any cryptocurrency.
 the underlying technology behind Bitcoin, known as the blockchain, is secure and transparent, which helps to ensure the integrity of transactions.
Many has tried to copy that or improve that in the past and still trying, but all i see is that, they are failing. For sure BTC is the best. But projects created around the concept of BTC which has helped bitcoin to grow more as they fail to deliver what they promise and bitcoin does it right.

[Ryker1]

Our first priority should be on bitcoin not on other altcoins which is very risky in putting our money.
Just like putting 85 percent on bitcoin in your portfolio and the rest are those altcoins that you think it is also potentially can make a profit --or if you doubt give 100% to bitcoin instead.
If you are playing safe in the crypto market, bitcoin is the smartest choice because it is proven and tested already.

[Smartvirus]

Now the big question comes.  Is Bitcoin really a hedge against negative economical events?

With the high rate of unpredictability and the volatile nature of bitcoin, it is indeed hard to defend it as a hedge for inflation. Perhaps individuals have adopted it for an investment based on a long term base due to the fact that, its one that comes with promises in a long run but, that cannot be speculated for a time with all accuracy.
Most of all, governments of the world are taking a different approach towards the idea of a digital currency with the CBDC which is very much not bitcoin built soke digital fiat. As a means to substitute crypto and function in the capacity as some wa to tackle inflation from reducing the printing of notes.
Bitcoin is non the less a good currency and investment but, hardly the hedge we hope it would be just yet.