Why bitcoin is the only cryptocurrency to be used as an investment asset

[rachael9385]

Bitcoin is not the only crypto currency that can be used as an investment asset. There are other coins on the market, but because Bitcoin is the top leading crypto in the market, that is why it is more popular in the world.
What is the essence of other coins if they are not meant for investment purposes? If the price of Ethereum reaches the same amount as Bitcoin, it will be more popular than it is now. Other coins can be used as investment assets and they can also be used as a payment method in some businesses.
Moreover, there were other coins on the market before the existence of Bitcoin, but many of these altcoins are not to be found. These are the names of the oldest crypto currencies that existed before the launch of Bitcoin eCash, B-money, Bit Gold, and Hashcash

[Gallar]

Bitcoin main purpose according to Satoshi himself, is as an alternative payment to fiat currency. But over the years bitcoin has grown in such a way that many have seen it’s potential of been a great investment asset.

Indeed, basically bitcoin was created by Satoshi Nakamoto with the aim of being used as a means of payment. But as time goes by, bitcoin begins to show excellent potential. Such as the number of enthusiasts continuing to increase, as well as the price aspect continuing to increase. Therefore, many Bitcoin users are investing in it. Because bitcoin does have excellent potential to generate profits. In addition, currently making payments using bitcoin in most countries is still strictly prohibited, and as far as I know, only the country of El Salvador currently legalizes bitcoin as a means of payment.

So because there are many prohibitions on making payments using bitcoin in almost all countries. Creating investment and trading channels can now be an alternative way to use Bitcoin to make money and possibly become a store of value. Because investing in bitcoin is more permitted by the governments of each country than making payments with bitcoin. So in my personal opinion, maybe because of that, Bitcoin is more widely used as an investment asset than as a means of payment.

Due to all these advantages some  people have not only taken bitcoin as an investment asset but have generalized it to other cryptocurrencies as well. Some have thoughts that investing in these alternative coins are actually diversification of one’s portfolio. But is this really portfolio diversification?

Generalizing altcoins with bitcoin may be a valid opinion for some people. Because as we know, altcoins are currently created because of the presence of Bitcoin. Or more precisely because it was inspired by Bitcoin. So most likely everyone thinks that cryptocurrencies that exist today could in the future have the same potential as bitcoin. However, while this is far from a possibility, many crypto investors are looking to gain more from investing or trading altcoins. Because it cannot be denied, sometimes there are altcoins that experience crazy price increases and make altcoin investors reap big profits. So I think investing in altcoins is okay, as long as you are ready to face all the risks. The reason is, the risk of crypto investment is much greater than bitcoin investment.
And in general bitcoin and altcoins do have differences, but in essence they are on the same path, namely as crypto currencies

[Crypt0Gore]

Everyone loves and prefer Bitcoin but do not blame those that are also investing in altcoins, they are known to be more risky but they are also known to be more profitable than Bitcoin, people are talking shit about altcoins and I have heard so many in the past that later, all those alts they called shit turned to perfume the best.

Some talked shit about meme coins and Shiba inu brings more than a thousand percentage for investors, I could remember Axie infinity, people are saying its a crap project, it's going to die, yet this project did x1000 too, till today this project is still developing, it just turned out that people loves Axie infinity more.

There are different set of altcoins that have turned my $100 into thousands of dollars, I was holding Bitcoin at the time, but the profit I made from Bitcoin is way so less than what altcoins have given me, it's your choice if you believe that taking risks on altcoins are not worth it, yet you will be seeing many people placing bet on soccer games and they never turn their lives around.

They spent every penny on sports bets and online gambling, and yet altcoins are bad, which is more riskier? I know what altcoins have done in my life, and I will always add some to my crypto portfolio, no hate.  

[michellee]

Everyone loves and prefer Bitcoin but do not blame those that are also investing in altcoins, they are known to be more risky but they are also known to be more profitable than Bitcoin, people are talking shit about altcoins and I have heard so many in the past that later, all those alts they called shit turned to perfume the best.

Some talked shit about meme coins and Shiba inu brings more than a thousand percentage for investors, I could remember Axie infinity, people are saying its a crap project, it's going to die, yet this project did x1000 too, till today this project is still developing, it just turned out that people loves Axie infinity more.

There are different set of altcoins that have turned my $100 into thousands of dollars, I was holding Bitcoin at the time, but the profit I made from Bitcoin is way so less than what altcoins have given me, it's your choice if you believe that taking risks on altcoins are not worth it, yet you will be seeing many people placing bet on soccer games and they never turn their lives around.

They spent every penny on sports bets and online gambling, and yet altcoins are bad, which is more riskier? I know what altcoins have done in my life, and I will always add some to my crypto portfolio, no hate.  

We do not blame those who are investing in altcoins because that is their choice and we can not force them to just invest in Bitcoin. They can still do that if they think they have more opportunities to make a big profit by investing in altcoins. We just advise them to be careful and not invest because of other people's suggestions. We need to find the altcoin by ourselves so there will be no regret when we can not make a profit.

Some people have already invested in meme coins but do not tell too many people. We do not know their reason and as I said before, that is their choice to select any coins they want to be their investment. Besides that, that is their money and they must be responsible with their money by selecting the right coins for their investment. They can not blame other people if they can not make a profit, especially if they follow other people's suggestions. That is why they need to analyze themselves to find the coin.

Many people have the same experience as you because they invested in the right altcoins. We can not deny that the altcoin can boost our profit become bigger but after we profit from the altcoins, we should go back to Bitcoin because that will be the Bitcoin next turn that will give us a big profit.