It is only Bitcoin and nothing else

[WatChe]

Altcoins also rely on market hype. When Bitcoin rises, all altcoins will automatically follow the upward movement. We have often seen in the market that altcoins do not completely stand alone, so I say that altcoins are more sensitive to how market sentiment occurs.

diversifying on altcoins? That's not a good way 'this is my own opinion' altcoins always fall uncontrollably so I don't have altcoins in my portfolio anymore, currently only bitcoin is the best just like your belief in bitcoin so far, if you see altcoin profits are bigger then bitcoin will be able to surpass more than altcoins.

For Alts market hype is Bitcoin price. See top Alts like Ethereum, there is not a single instance where we saw Ethereum going up despite the fact Bitcoin is down. To me there is no existence of crypto market without Bitcoin and that's why I think there is no point in diversifying your crypto portfolio. The diversification may work well in other trading markets like stock or forex but not here. I have this opinion after investing and losing heavily in alts. Just my few Satoshis. 

[1715153040]

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[dothebeats]

But not all are scams, anyone who says ETH is a scam is ignorant. If it is a scam and it can bring x100, x1000 profit then I still prefer to let it scam me.

Yes.. ethereum is a scam that has been producing a lot of profits, so far... I am not going to argue about it or whether I am ignorant or not because I don't give that many shits if you want to invest in that smoke and mirror and ever changing nothing burger that merely is composed of a lot of gobbledy-gook convolution.  Good luck if you believe it is any kind of meaningful long term investment that helps you to understand the world - including understanding bitcoin better.. whether you own any bitcoin or not as compared with ethereum.. that's surely is your choice.

I know you are a bitcoin maximalist and I believe you would also support bitcoin even if it is not an investment and does not bring you profit. So it's not too confusing that you consider all altcoins to be shitcoins and scams no matter what anyone says. That's the toughest stance I've seen from bitcoin maximalists on this forum. But as investors like us, we are looking for profits when we see any opportunity. Then calling all altcoins a scam is not entirely accurate because it still brings us profit.

I'm also not saying I believe in altcoins in the long run or believe it will change the world, what I'm trying to emphasize is the profits we can make from it.

As for a project that can change the world financial system, there is only bitcoin because Satoshi's purpose of creating bitcoin is to replace the current centralized financial system with a more fair and transparent decentralized system. Satoshi did not create bitcoin to be an investment like altcoin projects do, which is the difference with bitcoin.

You have a good point here. Why will a Bitcoin maximalist even show any support for altcoins? Not gonna lie, I've been seeing a lot of Bitcoin maximalist drag down a lot of post that involves altcoin, their comments are full of terms like "scam" and "fraud". I get that they are not a fan of altcoins but that doesn't mean everyone thinks the same as them, there are individuals who legitimately have good investment experience with altcoins.

[Japinat]

I guess it has always been bitcoin ever since, but since we are born greedy and would want to diversify our coins as much as possible, then we resort into investing some altcoins hoping that it could also generate decent profits for us. But only few of them survived and the rest have turned into shitcoins. One thing that we only realized now when we suffered consistent losses. However, as long as we prioritize bitcoin and allocate bigger funds on it, I guess we are still not at loss.

[Baki202]

Like other say, you can look back, but you cannot take back; you just need to look forward if those coins is part of your past. This serves you a lot of lessons and learnings. we have different regrets in life that we didn't invest in that coin and hold, but that's the life. Also, another thing is you don't need to love those coins its part of your journey. You can make an investment and use the opportunity to gain profit; most of our goal here is financial freedom. Buy, sell, or hold and check another opportunity for another coin or position.

Since everyone is looking for greener pastures, I've noticed that people who get involved with bitcoin never want to learn despite what is happening throughout the market. However, once they have a negative experience, they will try other options to see which one will benefit them.  And those who will learn will discover that danger is a part of life, which is what motivates individuals to act in certain ways because they think they might be lucky. That is much better than saving some money. And you're absolutely right about individuals seeking financial freedom.

[Wend]

Altcoins also rely on market hype. When Bitcoin rises, all altcoins will automatically follow the upward movement. We have often seen in the market that altcoins do not completely stand alone, so I say that altcoins are more sensitive to how market sentiment occurs.

diversifying on altcoins? That's not a good way 'this is my own opinion' altcoins always fall uncontrollably so I don't have altcoins in my portfolio anymore, currently only bitcoin is the best just like your belief in bitcoin so far, if you see altcoin profits are bigger then bitcoin will be able to surpass more than altcoins.

For Alts market hype is Bitcoin price. See top Alts like Ethereum, there is not a single instance where we saw Ethereum going up despite the fact Bitcoin is down. To me there is no existence of crypto market without Bitcoin and that's why I think there is no point in diversifying your crypto portfolio. The diversification may work well in other trading markets like stock or forex but not here. I have this opinion after investing and losing heavily in alts. Just my few Satoshis. 

It is true that once bitcoin drops in price, no altcoins can increase or go against bitcoin. But you are missing one thing, once the bull market appears and bitcoin increases in price, altcoins will also increase in price. But, many altcoins will thrive and increase in price much more than bitcoin. If bitcoin doubles then many altcoins will increase x10 and that is why people prefer to invest in altcoins today.

Diversification in the crypto market is meaningless if you are talking about minimizing risk because as we also mentioned above, if bitcoin goes down in price then no altcoin can go up in price and even many altcoins will disappear from the market. But when it comes to optimizing profits, as I said, altcoins will give better profits than bitcoin.

[Blitzboy]

The crypto market has single rule i.e. whenever Bitcoin is up the alts are up too and whenever Bitcoin is down the alts are down too. You can invest in alts to diversify your portfolio but you will get good return only once Bitcoin goes up. So its up to you whether you want to invest in Bitcoin alone or want to add alts in your portfolio too. To me Bitcoin is sole driver of the crypto market and has the ability to go up on its own. No alt has the capability to go up on its own. 

Altcoins also rely on market hype. When Bitcoin rises, all altcoins will automatically follow the upward movement. We have often seen in the market that altcoins do not completely stand alone, so I say that altcoins are more sensitive to how market sentiment occurs.

diversifying on altcoins? That's not a good way 'this is my own opinion' altcoins always fall uncontrollably so I don't have altcoins in my portfolio anymore, currently only bitcoin is the best just like your belief in bitcoin so far, if you see altcoin profits are bigger then bitcoin will be able to surpass more than altcoins.

Although altcoins are typically depended to Bitcoin prices, it's important to include them in your portfolio. Some are worthless, but grouping them together is oversimplified.

Even though Bitcoin is well-known, its important to look past the hype and think about the possibilities of some altcoins. Putting all your eggs in one basket is risky. You may think cryptocurrencies cant be stopped when they collapse, but several have risen and kept stable independent of Bitcoin.

Bitcoin is important, but market fluctuations and crashes can happen. Diversification is a practical approach for reducing risk and increasing profits. Believing there is a single bitcoin investment strategy is not really ideal.

[JayJuanGee]

But not all are scams, anyone who says ETH is a scam is ignorant. If it is a scam and it can bring x100, x1000 profit then I still prefer to let it scam me.

Yes.. ethereum is a scam that has been producing a lot of profits, so far... I am not going to argue about it or whether I am ignorant or not because I don't give that many shits if you want to invest in that smoke and mirror and ever changing nothing burger that merely is composed of a lot of gobbledy-gook convolution.  Good luck if you believe it is any kind of meaningful long term investment that helps you to understand the world - including understanding bitcoin better.. whether you own any bitcoin or not as compared with ethereum.. that's surely is your choice.

I know you are a bitcoin maximalist and I believe you would also support bitcoin even if it is not an investment and does not bring you profit.

You really know my motive for investing that well, or you believe that you have sufficiently summarized my bitcoin investment thesis and how it might have changed over the years?

I believe that I have had somewhat of a consistent bitcoin investment thesis since I got into bitcoin in 2013, yet at the same time, I have learned more and more about bitcoin since getting into bitcoin, so it is difficult to say what I did versus what I would have did or what I would do because in part I have already been in bitcoin, and fairly active in several ways over the last about 9 and 3/4 years... but I am still not sure what this has to do with me.

You challenged that anyone says ETH is a scam is ignorant.. and it seems that you were being quite hyperbolic in that statement.. whether you are correct or not might be another question.

Ever since Ethereum has come into existence it has been a kind of affinity scam in regards to bitcoin, and surely people have made money on it. but the making of money on a scam still does not seem to remove ethereum's scammy history and even including it seemingly ongoing scammy continued existence.

It would be pretty scary to be putting much if any of your value into that crap without merely feeling as if you are gambling rather than investing, even though many people (who I would suggest to be scammers, dumbasses or innocent people caught up in the nonsense.. and perhaps even pre-coiners.. a kind of temporary dumb status) actually do put value into that smoke and mirrors nonsense.

So it's not too confusing that you consider all altcoins to be shitcoins and scams no matter what anyone says.

I doubt that I have ever said that, or at least you seem to be devolving into more exaggerations in terms of trying to summarize my position by attacking me rather than really attempting to think through what I might have been saying or what my position might be.

Generally speaking I would prefer to suggest that there is a presumption that anything but bitcoin is a scam.. especially if they have their own token.. or if they are building on some kind of scam that has its own token. Now if they don't have their own token and they are building on bitcoin. then that may well be another story.  I don't claim to be an expert, but I do claim to presume anything trying to act like it is similar to bitcoin or better than bitcoin and has some kind of a token to mostly be a scam, even though surely there could be some utility in terms of some of the shitcoins and even some abilities to transfer value through some of them in kinds of alternative possibilities outside of bitcoin.. so as I mentioned previously, there could be some reasons to hold some of the various shitcoins, ... maybe even up to 10% of various investment assets could be in shitcoins as compared with bitcoin, and sure there could be reasons to go beyond `10%, but I am not going to automatically presume any of that without some kind of a justification, and the burden would be on you to argue some shitcoins to have any kind of value as compared with bitcoin and/or worthy of investing into whether you are talking about the mother asshole of shitcoins (aka ethereum) or some other shticoin or shitcoin variant.

That's the toughest stance I've seen from bitcoin maximalists on this forum.

You are trying to paint me as some kind of an extremist... that sounds like bullshit.  I am completely reasonable.. ..and there are likely forum members who are both more informed than me and also more skeptical of shitcoins and the various ways that people get separated from their money (or distracted in their thoughts. or their abilities to better understand bitcoin).

But as investors like us, we are looking for profits when we see any opportunity.

You are within some kind of a reasonable group?  Are you chasing dollar profits?  How do you define profits?    The more you speak, the more lost you sound.

Then calling all altcoins a scam is not entirely accurate because it still brings us profit.

Again, that does not really sound exactly like what I said.. and also I have not really ever claimed that there might be ways to make profits from shitcoins.  Of course there are ways to make profits, and even moreso if you happen to be some kind of an insider who is scamming others or if you have connections with an insider who is scamming others then maybe you will get the information first to be able to pump and dumb your crap.

I would not really characterize those kinds of behaviors  as investing rather than gambling and/or pumping and dumping crap... and of course, you have the right to do whatever you would like.. but it does not sound very accurate to be describing yourself in terms of taking the high road.

The high road likely relates to mostly (if not exclusively) being in bitcoin.. rather than getting distracted too much into shitcoins, and if you happen to get into shitcoins, then hopefully you are not getting more than 10 % into shitcoins without having some kind of a compelling reason to do so that goes beyond mere gambling and/or engaging in various scams, whether you are the scammer yourself or merely following and supporting scammers while proclaiming that they are not scamming..

I'm also not saying I believe in altcoins in the long run or believe it will change the world, what I'm trying to emphasize is the profits we can make from it.

No one, including yours truly, is saying that you are not able to make profits from being involved in shitty projects.. but it seems quite distracting if you believe that there is some kind of systematic and/or honest way to get involved in the overwhelming majority of that crap, and if you are holding Ethereum up as your supposed virtue coin, then you really sound lost... .. and again, you are sure free to spend your time, your energies and your money however, you like, but coming into various threads and trying to suggest that you are virtuous or that you are doing good work or that anyone claiming ethereum to be a scam is ignorant likely mostly reflects upon your own ignorance and vacuousness rather than some kind of an enlightened position that you seem to be wanting to proclaim that you hold in your support and/or your involvement in shitcoins, including but not limited to ethereum.

As for a project that can change the world financial system, there is only bitcoin because Satoshi's purpose of creating bitcoin is to replace the current centralized financial system with a more fair and transparent decentralized system. Satoshi did not create bitcoin to be an investment like altcoin projects do, which is the difference with bitcoin.

If Satoshi did not design Bitcoin to be an investment, then why is it an investment?  You can invest time, energy and/or monetary value into bitcoin, and it seems that bitcoin has various monetary incentives built into it and that is part of the reason that it works so well, even when being attacked.  There are presumptions that are built into bitcoin that it will be attacked, and it is built to be resilient against various kinds of attacks that could take place and that have been taking place, and part of the reasons for bitcoin's resiliences has to do with monetary incentives that are outcome of it's built-in scarcity.

Various shitcoins are just imitators of bitcoin or they are trying to suck off of the bitcoin teat or to hang onto bitcoin's apron string (like bitcoin serving as a security blanket in which the various scams are allowed (or enabled) to exist because bitcoin provides the strongest security of any system (so far) known to man.

So yeah, not only does bitcoin have built in properties to change world financial systems, bitcoin is so disruptive that it ends up purifying and improving all kinds of monetary incentives and your various shitcoin involvement does not really help to bring any kind of clarity to you or anyone else why there is any value in getting involved in that crap.. even if sure you might be able to figure out some short-term angle in which you are able to eek out some short-term value until you get rug pulled.. but hey you are willing to take chances on those kinds of short-term bets, and those are your choices.  No one can rescue you from yourself, except yourself... .you have to figure out if you may well be putting too much time, energy in money into pump and dump crap when you got a pristine asset like bitcoin that is staring you right in the face.

By the way.. don't get me wrong.  I surely do not expect everyone to figure out that bitcoin is the best asset (even though it is), or that shitcoins will cease to exist, or that normies won't get distracted into investing into inferior products, because it is likely that there are going to be millions of new shitcoins in the next 100 years (maybe even in the next 5 years), and there will be many times in which the shitcoins will outperform bitcoin in the short-term.. and there is no real way of NOT seeing that value will continue to flow into bitcoin, but it may well not flow clearly or straightly.. so anyone (and everyone) is free to get distracted into investing into inferior products... and they are also free to invest into bitcoin.. so there is quite a bit of value to anyone who figures out bitcoin to be the place to be spending the overwhelming majority of their time, energies and value.. even if there might be some better short-term places that such time, energies and value could be placed... and it is up to you the extent to which you get distracted into nonsense and how much value you want to put into crap.

Altcoins also rely on market hype. When Bitcoin rises, all altcoins will automatically follow the upward movement. We have often seen in the market that altcoins do not completely stand alone, so I say that altcoins are more sensitive to how market sentiment occurs.

diversifying on altcoins? That's not a good way 'this is my own opinion' altcoins always fall uncontrollably so I don't have altcoins in my portfolio anymore, currently only bitcoin is the best just like your belief in bitcoin so far, if you see altcoin profits are bigger then bitcoin will be able to surpass more than altcoins.

For Alts market hype is Bitcoin price. See top Alts like Ethereum, there is not a single instance where we saw Ethereum going up despite the fact Bitcoin is down. To me there is no existence of crypto market without Bitcoin and that's why I think there is no point in diversifying your crypto portfolio. The diversification may work well in other trading markets like stock or forex but not here. I have this opinion after investing and losing heavily in alts. Just my few Satoshis. 

Yes.. the better ways of thinking about diversification tends to be across asset category types rather than within the same asset category.. .. and then within the categories, there could be some value if diversifying if the leader is not known, yet within the "crypto asset" category anyone should realize that bitcoin is the only one that really matters, so then if there are desires to diversify, then it should be into other asset categories such as property, equities, commodities (bitcoin could serve as this too), bonds and/or cash/cash equivalents.

But not all are scams, anyone who says ETH is a scam is ignorant. If it is a scam and it can bring x100, x1000 profit then I still prefer to let it scam me.

Yes.. ethereum is a scam that has been producing a lot of profits, so far... I am not going to argue about it or whether I am ignorant or not because I don't give that many shits if you want to invest in that smoke and mirror and ever changing nothing burger that merely is composed of a lot of gobbledy-gook convolution.  Good luck if you believe it is any kind of meaningful long term investment that helps you to understand the world - including understanding bitcoin better.. whether you own any bitcoin or not as compared with ethereum.. that's surely is your choice.

I know you are a bitcoin maximalist and I believe you would also support bitcoin even if it is not an investment and does not bring you profit. So it's not too confusing that you consider all altcoins to be shitcoins and scams no matter what anyone says. That's the toughest stance I've seen from bitcoin maximalists on this forum. But as investors like us, we are looking for profits when we see any opportunity. Then calling all altcoins a scam is not entirely accurate because it still brings us profit.

I'm also not saying I believe in altcoins in the long run or believe it will change the world, what I'm trying to emphasize is the profits we can make from it.

As for a project that can change the world financial system, there is only bitcoin because Satoshi's purpose of creating bitcoin is to replace the current centralized financial system with a more fair and transparent decentralized system. Satoshi did not create bitcoin to be an investment like altcoin projects do, which is the difference with bitcoin.

You have a good point here. Why will a Bitcoin maximalist even show any support for altcoins? Not gonna lie, I've been seeing a lot of Bitcoin maximalist drag down a lot of post that involves altcoin, their comments are full of terms like "scam" and "fraud". I get that they are not a fan of altcoins but that doesn't mean everyone thinks the same as them, there are individuals who legitimately have good investment experience with altcoins.

Part of the value of the forum is that we do not need to agree, and you are free to make your various arguments and/or counter-arguments (if you have any) and also you should be making up your own mind, as well, regarding whether and how to invest into bitcoin or any other place (including into shitcoins) that you choose to spend your time, energies and value.

I guess it has always been bitcoin ever since, but since we are born greedy and would want to diversify our coins as much as possible, then we resort into investing some altcoins hoping that it could also generate decent profits for us. But only few of them survived and the rest have turned into shitcoins. One thing that we only realized now when we suffered consistent losses. However, as long as we prioritize bitcoin and allocate bigger funds on it, I guess we are still not at loss.

I doubt that any turned into shitcoins.  An overwhelming majority (if not all of them?) were already shitcoins from the beginning, but you were happy with them as long as their price was going up.

The crypto market has single rule i.e. whenever Bitcoin is up the alts are up too and whenever Bitcoin is down the alts are down too. You can invest in alts to diversify your portfolio but you will get good return only once Bitcoin goes up. So its up to you whether you want to invest in Bitcoin alone or want to add alts in your portfolio too. To me Bitcoin is sole driver of the crypto market and has the ability to go up on its own. No alt has the capability to go up on its own. 

Altcoins also rely on market hype. When Bitcoin rises, all altcoins will automatically follow the upward movement. We have often seen in the market that altcoins do not completely stand alone, so I say that altcoins are more sensitive to how market sentiment occurs.

diversifying on altcoins? That's not a good way 'this is my own opinion' altcoins always fall uncontrollably so I don't have altcoins in my portfolio anymore, currently only bitcoin is the best just like your belief in bitcoin so far, if you see altcoin profits are bigger then bitcoin will be able to surpass more than altcoins.

Although altcoins are typically depended to Bitcoin prices, it's important to include them in your portfolio. Some are worthless, but grouping them together is oversimplified.

Even though Bitcoin is well-known, its important to look past the hype and think about the possibilities of some altcoins. Putting all your eggs in one basket is risky.

In terms of investing,  if you do not recognize bitcoin as the leader of the sector, then you likely do not understand bitcoin or the sector.

Now, if you are fucking around with pump and dump and trading, then that is a different set of skills (and or scams) and you can surely profit more in shitcoins, trading and scams than a pure bitcoin approach as long as you play your skills properly and/or you have decent and actionable information that ends up working out for you in those shorter term kinds of plays.

You may think cryptocurrencies cant be stopped when they collapse, but several have risen and kept stable independent of Bitcoin.

That comment makes no sense.  Bitcoin has not gone away.. so your elusion that some kind of a shitcoin is independent of bitcoin, then you better actually describe which one (examples) you are talking about.

Bitcoin is important, but market fluctuations and crashes can happen. Diversification is a practical approach for reducing risk and increasing profits. Believing there is a single bitcoin investment strategy is not really ideal.

You really are pumping the practicing of a shitcoin strategy. and diversification generally is across asset classes not within the same asset category..   Yeah you can diversify how you gamble too.. and hopefully people are not gambling when they choose their bitcoin allocation.. how they accumulate bitcoin, what their BTC accumulation targets might be and then how they might attempt to maintain their BTC stash once they get it up to their target level.

[icalical]

I still remember some of the project I invested in, and I can say the same that most of those project was turns into dust. They always promise something big like 'the next Bitcoin' or 'better than Ethereum' but none of them could deliver the promised product. This investment mostly happened on the ICO boom like 4 years ago, tho there might be some projects that actually booming, and the profit is quite satisfying, I still learned from those mistake, and now like more than 80% of my portfolio is on Bitcoin, and I barely invest in any new project.

[Odohu]

I do get the optimism with Bitcoin ‘coz if it is potential alone, then it has not only the potential but has proven how high its market price could increase. But to rely fully on a single asset won’t be advisable. If you’re into investment for years, then for sure you’d choose to diversify your portfolio. One reason is to lessen the risk due to factors which may affect the market in a sudden; economic crisis, wars, viruses and such. But if you’re that prepared to lose or win no matter what, then such method could work. Problem only arise when an investor isn’t ready for negative outcomes and are just being too positive just because he invested into it.

The crypto market has single rule i.e. whenever Bitcoin is up the alts are up too and whenever Bitcoin is down the alts are down too. You can invest in alts to diversify your portfolio but you will get good return only once Bitcoin goes up. So its up to you whether you want to invest in Bitcoin alone or want to add alts in your portfolio too. To me Bitcoin is sole driver of the crypto market and has the ability to go up on its own. No alt has the capability to go up on its own. 

This rule will likely be broken in the coming bull market. Bitcoin dominance is increasing and many altcoins are failing... this means investors are realizing that most of these altcoins are shitcoins. If this trend continues, the hyped altcoin season may never come even when Bitcoin will be soaring. Ofcourse there will be few of the altcoins that will attempt to following Bitcoin but the number is steadily reducing. FTX is out, Luna is out.... these were solid projects yet failed. Who knows the next!

I know a lot of smart guys including the founders of most of these shitcoins are already converting their bag to Bitcoin as that is the only way to have peace. Anyone hoping to go to the moon with a bag of over-hyped altcoin might actually meet his Waterloo

[TelolettOm]

I was going through coinmarketcap today to see some of the cryptocurrencies I was involved in when I started, I was so surprised to see that a lot of them have even been delisted. I was heartbroken seeing that some tokens who raised millions of dollars, had huge community and were trending even in various platforms just died. I wanted to not mention any particular token but I have to mention PumaPay that raised about $8 million yet could not deliver anything and got investors holding a bag of shit.

I also experienced the same. Many of my coins have no development, some dropped their prices significantly, and some have been dead coins. There are few coins only that seem to have potential progress in the future. So, it is always difficult to expect secure investment on altcoins, specifically for the new altcoins. The chance of the projects to fail is always high although they have big communities, raise to the top 50 coins on CMC quickly, and become popular in a short time. In many cases, the projects only set the targets to bring the hypes, so they can collect huge money from investors as quick as possible. After they get the money, the teams/developers will tend to stop their focus on the projects. They are getting rarely to keep in touch to the community. And finally, they disappear and the tokens will be delisted on the exchanges.

Well, PumaPay is just one of the examples of the projects having the same scheme like I described above. 

[serjent05]

I guess it has always been bitcoin ever since, but since we are born greedy and would want to diversify our coins as much as possible, then we resort into investing some altcoins hoping that it could also generate decent profits for us. But only few of them survived and the rest have turned into shitcoins. One thing that we only realized now when we suffered consistent losses. However, as long as we prioritize bitcoin and allocate bigger funds on it, I guess we are still not at loss.

Looking for another source of profit is not being greedy, IMO.  It is just taking the possible opportunity that we can make a profit while waiting for our other investment to mature.  It is more likely using our time to maximize profit.  It is not bad if we have extra funds and have already invested in Bitcoin to look for another means of profit.  The international law does not forbid anyone to diversify and look for another source of profit, as long as we do our own research and there is a possibility to mitigate risk to its minimum, then it isn't bad to invest in other cryptocurrencies.

Investment in another cryptocurrency is not need for that cryptocurrency to survive the market, since the essence of investment is making profit, we can always cash out whenever we see profit and get out of that cryptocurrency.

As one of the thread here stated: Never marry cryptocurrency.  We must get out if the profit is realized.  Sticking for too long when the target is realized just to make our profit bigger is what I call being greedy.

[WillyAp]

Investment in another cryptocurrency is not need for that cryptocurrency to survive the market, since the essence of investment is making profit, we can always cash out whenever we see profit and get out of that cryptocurrency.

As one of the thread here stated: Never marry cryptocurrency.  We must get out if the profit is realized.  Sticking for too long when the target is realized just to make our profit bigger is what I call being greedy.

Yeah and in times like this were you need 1000 + in investment to make a reasonable amount those 1000 invested in a non crypto endeavour is most likely a safer bet.

[Ziskinberg]

I still remember some of the project I invested in, and I can say the same that most of those project was turns into dust. They always promise something big like 'the next Bitcoin' or 'better than Ethereum' but none of them could deliver the promised product. This investment mostly happened on the ICO boom like 4 years ago, tho there might be some projects that actually booming, and the profit is quite satisfying, I still learned from those mistake, and now like more than 80% of my portfolio is on Bitcoin, and I barely invest in any new project.

Bitcoin never offers such a thing but altcoins do especially new projects. And you are the one for those fake believers and those who think always about money and rewards.

That is the reason why we should not just look upon their promises and big rewards but we must look is the use case of the project. Of course, being developers will attract investors in order to make a profit, and one of the most effective strategies is to promise them something attractive...Those greedy individuals and lack of market experience will usually fall into the wrong investment.

[Mauser]

If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.

I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.

There have been a few meme coins that did very well in the past, but you are right that the majority of these coins didn't do well at all. I am sorry you focused heavily on these coins and not bitcoins itself. So many different projects without a specific goal where doomed from the start. During a boom period where a lot of outside capital flows into the crypto world the flaws might not have been noticed by many investors. Still, I always recommended to put 80% of our money in bitcoin and only use 20% for meme and alt coins. That 80/20 split I have seen used by many other forum users. And if you were early in the crypto markets, your returns on bitcoin should make up any meme coin losses. Also wasn't there just last week a big article that almost all NFTs are worthless now? We are living in uncertain times and investors are much more cautious with their money. I wouldn't sell all other projects, there are still chances to make a profit.

[n00ber]

I still remember some of the project I invested in, and I can say the same that most of those project was turns into dust. They always promise something big like 'the next Bitcoin' or 'better than Ethereum' but none of them could deliver the promised product. This investment mostly happened on the ICO boom like 4 years ago, tho there might be some projects that actually booming, and the profit is quite satisfying, I still learned from those mistake, and now like more than 80% of my portfolio is on Bitcoin, and I barely invest in any new project.

Bitcoin never offers such a thing but altcoins do especially new projects. And you are the one for those fake believers and those who think always about money and rewards.

That is the reason why we should not just look upon their promises and big rewards but we must look is the use case of the project. Of course, being developers will attract investors in order to make a profit, and one of the most effective strategies is to promise them something attractive...Those greedy individuals and lack of market experience will usually fall into the wrong investment.

Use case? So can you tell me if there are any cryptocurrency projects that have been put into practical use yet? Or is it all just empty theories or empty promises that they often say? In my opinion, investing in altcoins is speculation. If you have made profits, you should take profits and ignore them immediately. There are no projects with practical applications or any technologies that bring benefits to society. So far, only bitcoin can be used as a means of payment and store of value, the rest are just rubbish for speculation and gambling. If you want to invest in technology, it's best to learn about real growing technology companies out there, don't believe what crypto projects say.

[justdimin]

Have you heard about the Youc project,it was one of the big project.Which was used by the forum people to earn good money and project itself good value one,many people gained huge money who had their investment in the YOUC project.Mean while many shit coins was originated in the same period.Some people loss their money in the shit project too.So every periodic time period both good and evil project will survive.It’s trader responsibility to choose the good project compared to the evil one.The background verification was essential one to get escape from it.

I don't know about the project you are talking about, but there are many projects that bring profits to investors, not just bitcoin. But the thing is that altcoin projects have a very short lifespan and are more suitable for speculation than long-term investment. People who lose money from altcoins are mostly too greedy, they want to make more profits but in the end they lose everything. Whether it's bitcoin or any altcoin, there will be winners and losers, no investment will help everyone win win. For the winners, they see it as an opportunity and take full advantage of it, and for the losers, they call it a scam.

That is the trouble, if you buy an altcoin then there is a chance that you will lose all your money, and if not and it goes well, then there is a chance it could crash later on as well, so it is not really a smart move to keep trying your luck way too much, you should try to avoid that. With bitcoin you know you are going to do fine, and it is not going to be terrible. I know that it is not that smart for a while, but then it is going to get better and better.

I personally hope that people can see that eventually. I think with bitcoin you are investing into something that you can see the future of, not clearly, not exact numbers, not exact date, but you know that it will go up in the future and that is more than enough to most people.

[JayJuanGee]

If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.

I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.

There have been a few meme coins that did very well in the past, but you are right that the majority of these coins didn't do well at all. I am sorry you focused heavily on these coins and not bitcoins itself. So many different projects without a specific goal where doomed from the start. During a boom period where a lot of outside capital flows into the crypto world the flaws might not have been noticed by many investors. Still, I always recommended to put 80% of our money in bitcoin and only use 20% for meme and alt coins. That 80/20 split I have seen used by many other forum users. And if you were early in the crypto markets, your returns on bitcoin should make up any meme coin losses. Also wasn't there just last week a big article that almost all NFTs are worthless now? We are living in uncertain times and investors are much more cautious with their money. I wouldn't sell all other projects, there are still chances to make a profit.

Even though I think that 20% is too much to allow to be invested into shitcoins (10% at most into shitcoins.. but hey we can agree to disagree), it is at least some kind of a recognition that an overwhelming majority should be in bitcoin.. ...

Over the years, I have surely seen so many shitcoiners who have no bitcoin or they might have only a 10% to 20% allocation to bitcoin.. which seems completely lacking in knowledge in regards to what bitcoin is....

By the way, don't get me wrong, it is helpful for anyone to think through what are there various allocations and to consider why they allocating the amounts that they are.. including considering their timeline for various investments, so there surely could be some reasonable justifications that would allow people to conclude to take more risks .. which does end up in decisions to ONLY have smaller amounts of the crypto-investments allocated to bitcoin.. but then of course, we have our broader investment portfolio too..

At the end of 2014, after I had already been in bitcoin for a year, I had considered that the amount that I invested in bitcoin would be 10% of my overall investment portfolio, but after March 2020, I started to recommend 1-25% to be allocated to bitcoin, and of course, my own investment in bitcoin ended up being around 13.5% in late 2015, but that grew to nearly 90% as compared with my other investments in 2017 and then shrunk back to 45%-ish and then is currently around 70%.. so I am not even necessarily suggesting the necessity for any reallocations of a winning asset.. so when we consider allocations within our overall investment portfolio versus allocations within crypto (bitcoin versus shitcoins), those are two separate questions, but they still may well have real world ramifications, including that there may be a large number of folks who do not hardly have any investments besides "crypto" which is potentially problematic, but also screwing up their own concepts of how diversification should be considered and put into practice in regards to their own financial/psychological circumstances and/or their investment(gambling) goals.

[Odohu]

If one can turn back the hand of time, and assuming I joined this forum early when I started my crypto journey, maybe the concept of shitcoins would have dawn on me and that would have made me convert those worthless bags to Bitcoin when I could.

I know there are other who would have similar experience too and there are still others caught up in the euphoria of getting rich through one token or the other. Well, if it is not Bitcoin, it is not worth holding.

There have been a few meme coins that did very well in the past, but you are right that the majority of these coins didn't do well at all.

Unfortunately, I have not been involved in any of the meme coins that did well. In my days of Ignorance, I have invested into several of those meme coins,  even some with solid marketing and huge hype yet they all failed. My experience is enough to make me conclude that they are not worth it.

I am not disputing the fact that some would have made money from meme coins, I know few that did.... I guess luck played in their favour.

Still, I always recommended to put 80% of our money in bitcoin and only use 20% for meme and alt coins. That 80/20 split I have seen used by many other forum users.

I think 20% to meme coins is way too high for me. Why will I commit 20% of my investment funds to something I don't believe in.... pure low probability gambling. Even though I will not even give it a thought, I think single digit percentage of investment funds should not be bad. After all, it is believed that meme coins can easily give x100 in profits. Assuming you have $10k to invest and you decide to use 5% of that, that will be $500 investment. If you split this into five meme coins and one of them achieves x100, that will be $10k representing a profit of $9,500. This is huge.

[mirakal]

I still remember some of the project I invested in, and I can say the same that most of those project was turns into dust. They always promise something big like 'the next Bitcoin' or 'better than Ethereum' but none of them could deliver the promised product. This investment mostly happened on the ICO boom like 4 years ago, tho there might be some projects that actually booming, and the profit is quite satisfying, I still learned from those mistake, and now like more than 80% of my portfolio is on Bitcoin, and I barely invest in any new project.

Those who have experienced huge losses from those altcoins or shitcoins, surely they will never invest in them again to avoid another losses. But for those who are still new in the market, I still think they will still be deceive with those too good to be true altcoins. They’re actually cheap compared to bitcoin so if you invest because of greed, you will chose to invest in them and expect maximum profits.

[JayJuanGee]

Still, I always recommended to put 80% of our money in bitcoin and only use 20% for meme and alt coins. That 80/20 split I have seen used by many other forum users.

I think 20% to meme coins is way too high for me. Why will I commit 20% of my investment funds to something I don't believe in.... pure low probability gambling. Even though I will not even give it a thought, I think single digit percentage of investment funds should not be bad. After all, it is believed that meme coins can easily give x100 in profits. Assuming you have $10k to invest and you decide to use 5% of that, that will be $500 investment. If you split this into five meme coins and one of them achieves x100, that will be $10k representing a profit of $9,500. This is huge.

Yep.  Those are the kinds of calculations that shitcoiners do, instead of staying focused.. .but yeah, to stick to the 80/20 rule, if they had a $10k budget and choose to invest $500 into each of their chosen shitcoins, then they would ONLY be able to invest into 4 shitcoins without going over their 20% cap. .. so then they will conclude that they have to pick more coins, and then they end up having difficulties staying focused on bitcoin..

Of course another thing is that there should be some kind of conscientious due diligence in trying to figure out which shitcoins to research into and then to invest and then to watch them and to figure out various strategies in regards to each coin, including what kinds of events might trigger needs to take action, such as selling some or all of their coin.  Sure, we can suppose that it could be fun to learn about some of the various shitcoin projects and to watch them... and maybe they will figure out some kind of a system that works for them.  Perhaps?

I still remember some of the project I invested in, and I can say the same that most of those project was turns into dust. They always promise something big like 'the next Bitcoin' or 'better than Ethereum' but none of them could deliver the promised product. This investment mostly happened on the ICO boom like 4 years ago, tho there might be some projects that actually booming, and the profit is quite satisfying, I still learned from those mistake, and now like more than 80% of my portfolio is on Bitcoin, and I barely invest in any new project.

Those who have experienced huge losses from those altcoins or shitcoins, surely they will never invest in them again to avoid another losses. But for those who are still new in the market, I still think they will still be deceive with those too good to be true altcoins. They’re actually cheap compared to bitcoin so if you invest because of greed, you will chose to invest in them and expect maximum profits.

That is part of the reason that they are not going to be able to even stick with a 80/20 rule unless they flip it, and even then it can get so tempting to reduce bitcoin further because once they go down the diluting of their investment portfolio, there are always more and more new shitcoins demanding some of that allocation.