If not for Bitcoin

[Onyeeze]

The only thing I agree is Luna because this is an another coin, which completely has no relation with Bitcoin.

While 3AC, Blockfi, Celsius, Voyager, and FTX were a centralized sites e.g. exchange, lending, hedge fund that people use to hold their Bitcoins, so even you're trust Bitcoin, you will lose your coins if you hold it in a centralized sites.

It's bitcoin that gives other coins life and when looking at it you very well without bitcoin other cryptocurrencies won't have a value today, what I understand concerning bitcoin is that Bitcoin a cryptocurrency that gives value to other cryptocurrencies, but doesn't know, luna coins has being established long time but it's still struggling to meet up like other  altcoins that is have small live when bitcoin price is low, holding a coin for long time should not be altcoins but let it be bitcoin because it is a coin that have long stays and I know very well bitcoin have a strong volatility and it's not comparable with other coins

[Yatsan]

Setting aside whether other cited events are valid, the fact that Bitcoin is still here perhaps due to the trust of its investors, makes it sustainable. Bitcoin is a good investment as long as you can manage the risk.All assets whoch are dependent with demand only needs to establish trust on its industry and Bitcoin managed to do so.

The popularity of cryptocurrencies has grown so much because people trust them. It is very important to have faith or trust in every matter. If we can't trust or believe in something then we will not get peace by investing in those sides or anything else. FTX is the biggest scam ever, SBF has ruined many people's lives. Even after such a big fraud in crypto platform, people still trust this platform. If this kind of fraud is constantly happening then maybe people will lose their trust from this platform.

The thing here is that a project is independent from one another and its failure just causes FOMO and negative impression but that depends on how an investor would manage the risk. Perhaps FTX’s issue, many investors doubted this industry in an instant, making assumptions that it is not safe. However, experienced investors remained calm and continued doing their thing.

[lovesmayfamilis]

The other thread is not bad and has earned you some merits but I would recommend you not to open too many threads just expressing what you think or people may get tired of it.

That said, you are probably right that if it were not for Bitcoin the cryptocurrency industry would have gone much further downhill and possibly collapsed, although it is very difficult to make any claims about what would have happened if what has, in fact, happened had not happened. It enters the realm of pure mental philosophy or speculation.

Good advice. You are right that the creator of the topic is very greedy, thinking that if he managed to copy one piece of content that was not noticed, and he also received a lot of merits, then he could safely steal and copy it in the future. The OP was very wrong here.

https://bitcointalk.org/index.php?topic=1926895.msg62957994#msg62957994

[SmartGold01]

When I saw the benefits of having Bitcoin, I take it as a financial suicide not having Bitcoin.

Do you know that those who do store their funds or savings into exchange are likely to lose their funds because they aren't in control of their funds and to whatever that happens over there affects their savings generally.
If everyone applies carefulness and never compromised their keys or revealed it to people there is no way anyone will come mention about hack, collapse and whatsoever, it is the ignorance people around the crypto industry not to make their researches on what form exchange and cryptocurrencies they should invest on, as for bitcoin, I have a strong confidence and the lost in bitcoin is subjected to amount of patient you would exercise for the market to gain back another ATH then you will recover the lost.

[bettercrypto]

When I saw the benefits of having Bitcoin, I take it as a financial suicide not having Bitcoin.

Who would have ever known that from the start of 2021, that;

_3AC(crypto biggest VC) would subsequently collapse.

_ Blockfi, Celsius and voyagar would go under.

_FTX would implode, and SBF being exposed as one of the world biggest fraudster in financial history.

_ Luna would go to 0.


Upon all this event that has took place,  the crypto industry would have completely collapse if not for the confidence and trust investors have in Bitcoin.
It has kept the crypto industry running, just look at Bitcoin today, it's still standing strong above 27k.
If not for Bitcoin, we would have all went home sad.
Cheers to all the bitcoineers

Well, right now, the Luna in the market, according to the value it has, is around 0.4$ each. I'm not saying to invest here; I just want to show that it has increased, at least compared to the time when the SBF scandal was still fresh. Anyway, until now, Bitcoin has remained the top choice for long-term investment among other cryptos.

Just make sure that if you're going to hold Bitcoin, you put it in a cold wallet or hardware wallet, not in any exchange that is categorized as a centralized exchange, so that at least Bitcoin won't be disturbed. It's good to be careful. ..

[Ayers]

When I saw the benefits of having Bitcoin, I take it as a financial suicide not having Bitcoin.

Who would have ever known that from the start of 2021, that;

_3AC(crypto biggest VC) would subsequently collapse.

_ Blockfi, Celsius and voyagar would go under.

_FTX would implode, and SBF being exposed as one of the world biggest fraudster in financial history.

_ Luna would go to 0.


Upon all this event that has took place,  the crypto industry would have completely collapse if not for the confidence and trust investors have in Bitcoin.
It has kept the crypto industry running, just look at Bitcoin today, it's still standing strong above 27k.
If not for Bitcoin, we would have all went home sad.
Cheers to all the bitcoineers

Well, right now, the Luna in the market, according to the value it has, is around 0.4$ each. I'm not saying to invest here; I just want to show that it has increased, at least compared to the time when the SBF scandal was still fresh. Anyway, until now, Bitcoin has remained the top choice for long-term investment among other cryptos.

Just make sure that if you're going to hold Bitcoin, you put it in a cold wallet or hardware wallet, not in any exchange that is categorized as a centralized exchange, so that at least Bitcoin won't be disturbed. It's good to be careful. ..

If I remember correctly, luna's ATH is 120$ and compare it to the current price of 0.4$, do you see any value in it? I don't keep track and don't know how much it has increased but $0.40 is nothing compared to the price it once reached and creates a lot of false hope in people that it will increase further. Luna probably won't fall to zero but will never return to its ATH, but bitcoin will definitely recover and make a new, higher ATH. Therefore, bitcoin is always the safest and correct choice on the market, don't waste your time with projects that will scam you at any time.

[kryptqnick]

There have been destabilizing events in the crypto market, both related to specific coins and to centralized platforms (wallets and exchanges). Confidence in Bitcoin sometimes decreased after such events, which can be seen in sudden decreases of the price. However, I agree that overall, enough confidence clearly remained to push through the bad times.
That being said, I just wanted to point out that similar things have happened with the traditional economy and fiat currencies. We've seen huge financial crimes committed by major banks, we've seen a lot of bankruptcies and many fiat currencies struggling with high inflation, and yet people continue putting their trust in the system. So maybe it's partially simply in our nature to stick to something, even if it's not perfect and occasionally fails us, because trying something different feels too risky. Of course, in part people are involved into the traditional system by force, it's really hard not to participate in it. But still, people could try to become more independent of it, and yet the majority doesn't try that.

[xzy887]

Of course, I also think that without Bitcoin, cryptocurrencies would collapse even more. But I think it won't. Because Bitcoin is a trusted asset. Everyone is more interested in investing in it than fearing its depletion. But of course it will never be fixed. There is no need to get excited about the situation when the market may change.This is due to the fact that the coins/tokens also fluctuate in price in the market and some tokens disappear from the market. But it does not mean that bitcoin will be exhausted. So we have to change our thinking. Because bitcoin is going to be stronger in the future.

[tjtonmoy]

I understand, and you're not alone. Many are cautious of altcoins. However, not all altcoins are scams. Ethereum and Ripple provide new technology and ideals to crypto. I agree about the sentiment-driven market; Bitcoin is everyone's big brother. Everyone moves when it does. But why? Is it sentiment or more?

Imagine if every coin had sentiments. Would the market be stable or chaotic? Bitcoin is powerful while being decentralized. I advise you to diversify, investigate, and never put all your eggs in one basket, even if its flashy and called Bitcoin.

I've got the idea what you were talking about, but I like to stay on the safe side. That is the reason why I always choose Bitcoin. This is not something that I don't diversify my investment. I do it within the Bitcoin investment. The simple solution is DCA. To me, I call it diversification of my investment. I don't have any problem with other coins but just to be on the safe side I invest only on Bitcoin. Other people have other kind of opinion about this. That is the reason the market is still moving because there are people trading other coins. That's not my problem, they can do whatever they want. This is just my personal choice.

And I don't think it is totally based on sentiments. Some of the old coins that has been around for a while will most likely follow the trend of Bitcoin. It's not you and me, it's the people who connect the dot to create the sentiment. Most of the new coins or maybe some of the old coin could potentially move based on hype and trend. There could be sentiments involve in it, but it is most likely hype and trend.

So yes it is not always sentiments, but if you want to look at the major coins' movement they are most likely happening because of sentiments attached to Bitcoin. And yes Bitcoin is not the only investment that I do, I have other businesses too.

[Josefjix]

I understand, and you're not alone. Many are cautious of altcoins. However, not all altcoins are scams. Ethereum and Ripple provide new technology and ideals to crypto. I agree about the sentiment-driven market; Bitcoin is everyone's big brother. Everyone moves when it does. But why? Is it sentiment or more?

Imagine if every coin had sentiments. Would the market be stable or chaotic? Bitcoin is powerful while being decentralized. I advise you to diversify, investigate, and never put all your eggs in one basket, even if its flashy and called Bitcoin.

To be on more safer one, never expects the very best from the market because they tend to make frustrated and disappointed. The market is volatile, this minute we watching the bullish candles pumping and next minutes we experienced a bearish candles that would changed our face to frowned ones. Bitcoin have aides some of these top investors in the space, making them top back to full position with there current stands in the market. From day one it has always been bitcoin, though I've invested in other alternative projects but I keep 100% concentration on bitcoin.

[Obari]

Yeah cheers to bitcoiners and that is one reason bitcoin  has been referred to as the king of all other cryptocurrencies, maybe I'm not comparing bit I'm just saying that despite all the challenges bitcoin  has experienced,  it still stands strong even today unlike other coins that would have crashed.
Alot have happened already in the cryptocurrency industry and your captions speaks of the good of bitcoin and I see this post more of testimonials and I want to also qeue in to say that, if not for bitcoin,  I wouldn't have gotten all this knowledge i've gotten so far for free but all thanks to the forum and bitcoin.

[AmoreJaz]

I understand, and you're not alone. Many are cautious of altcoins. However, not all altcoins are scams. Ethereum and Ripple provide new technology and ideals to crypto. I agree about the sentiment-driven market; Bitcoin is everyone's big brother. Everyone moves when it does. But why? Is it sentiment or more?

Imagine if every coin had sentiments. Would the market be stable or chaotic? Bitcoin is powerful while being decentralized. I advise you to diversify, investigate, and never put all your eggs in one basket, even if its flashy and called Bitcoin.

To be on more safer one, never expects the very best from the market because they tend to make frustrated and disappointed. The market is volatile, this minute we watching the bullish candles pumping and next minutes we experienced a bearish candles that would changed our face to frowned ones. Bitcoin have aides some of these top investors in the space, making them top back to full position with there current stands in the market. From day one it has always been bitcoin, though I've invested in other alternative projects but I keep 100% concentration on bitcoin.

diversification is still advisable even in this market so as not to avoid total liquidation of your assets when one of your coins go down without a warning. and as we have seen, bitcoin remains its position, despite of all the setbacks the crypto market encountered throughout the years.
and as much as possible, diversity your portfolio outside the crypto market. it is better to have tangible assets that you can fall back into if all else fails in crypto market. we can never be sure in this market, even btc is not an exception for the possible collapse of this market.

[Asuspawer09]

When I saw the benefits of having Bitcoin, I take it as a financial suicide not having Bitcoin.

Who would have ever known that from the start of 2021, that;

_3AC(crypto biggest VC) would subsequently collapse.

_ Blockfi, Celsius and voyagar would go under.

_FTX would implode, and SBF being exposed as one of the world biggest fraudster in financial history.

_ Luna would go to 0.


Upon all this event that has took place,  the crypto industry would have completely collapse if not for the confidence and trust investors have in Bitcoin.
It has kept the crypto industry running, just look at Bitcoin today, it's still standing strong above 27k.
If not for Bitcoin, we would have all went home sad.
Cheers to all the bitcoineers

Somehow Bitcoin already has a very solid foundation because its the first cryptocurrency and probably going to be the foundation of all of these projects, to be honest, if Bitcoin dies for sure these blockchain projects are going to die for sure since the main cryptocurrency Bitcoin die already, yes it might not be connected at some point but the fact that no one is going to trust Bitcoin for sure is going to hit other secondary projects which probably not going to happened this days considering how Bitcoin adapt already all over the globe.

For sure in this kind of investment there are always hype involved that's making it risky considering we do not really have any kind of tangible assets on cryptocurrency all of the market prices are just supply and demand meaning it just depend on pure speculation, in the coming years we might not see Bitcoin anymore or might not exist anymore, so these secondary projects  have higher risk because they are full of hype and speculations.

[jeraldskie11]

No matter how legit a coin is, as long as it's not Bitcoin you still can't be sure that you won't get scammed. There are many projects that are very promising and you don't expect them to collapse because you don't see anything negative about them. But what happened, the project collapsed. All I can say is that there are many projects like Bitcoin that are legit but because the future cannot be predicted, there is still a risk that it might disappear. So if you really want to avoid this kind of scenario, focus on Bitcoin.

[Suzume]

I think Bitcoin occupies a very big place in this crypto world. Maybe if this happens one day, it means that later the crypto market will be much worse. But I don't think bitcoin will ever sit still. Because everyone is interested in investing in bitcoin and its past history shows that investing at the right time has been the reason for everyone's success. Again this may happen if one day Bitcoin goes down then the crypto market will be active. But since people are more interested in investing in Bitcoin, the market will be very tight. But it seems that it will gain a strong place in the future.

[justdimin]

The only thing I agree is Luna because this is an another coin, which completely has no relation with Bitcoin.

While 3AC, Blockfi, Celsius, Voyager, and FTX were a centralized sites e.g. exchange, lending, hedge fund that people use to hold their Bitcoins, so even you're trust Bitcoin, you will lose your coins if you hold it in a centralized sites.

Luna is an independent crypto but I think when it collapsed it affected the market as a whole in a negative way. The trauma it caused is so big. This is why everyone still hates the people behind it. I think FTX has its own token or stable coin called FTT and maybe other companies in the list has it as well, but the ones that shake the market is their collapsing platform.

Storing cryptos inside them can earn some profit but it's not recommended since they are centralized. They can freeze, control, etc.. our money aside from the danger of getting hacked. If people want to hold for the long term, they should do it on a dedicated crypto wallet, preferably decentralized one.

[bitzizzix]

And I have to agree with the fact that Bitcoin will now and forever dominate the cryptocurrency market and remain strong, as we know many previous events have disrupted Bitcoin and it is also predicted that someone will replace Bitcoin's position, but Bitcoin remains strong.
In the future, there may be more coins entering the market, but bitcoin will remain the main one and continue to dominate the market as its popularity and interest will continue to increase. And Bitcoin is the only blockchain-based cryptocurrency that has been built since its inception. In terms of market capitalization, Bitcoin is the highest market capitalization that cannot be replaced.

[xzy887]

that, if not for bitcoin,  I wouldn't have gotten all this knowledge i've gotten so far for free but all thanks to the forum and bitcoin.

Of course, I think bitcoin is the central point in cryptocurrencies. Around which all markets revolve (with some exceptions). Due to which traders gain the most focus and knowledge in the market on Bitcoin.If there was a possibility of bitcoin crashing like any other coin, then like you, we would not be able to gain knowledge about bitcoin.
And we've seen this happen with Bitcoin before. But later it returned to its original form. This is nothing new, bitcoin is not destroyed, it will rise again and surprise everyone.

[yhiaali3]

All of these major incidents that you mentioned (3AC, Blockfi, Celsius, Voyager, Luna, and FTX ) are all centralized services that have nothing to do with Bitcoin in the first place. They are like parasitic organisms that had to be eliminated.

Although these incidents were painful and caused losses to many people, they had a positive aspect in that they made people realize the importance of Bitcoin and that it is the only coin that can be trusted. Therefore, I support your opinion on this point. If it were not for the existence of Bitcoin, the cryptocurrency industry would have collapsed completely.

[The Sceptical Chymist]

When I saw the benefits of having Bitcoin, I take it as a financial suicide not having Bitcoin.

Financial suicide? What if you don't have capital to invest in Bitcoin? Should you kill yourself or go the extra length to get money by all means just to invest in Bitcoin?

Financial suicide has nothing to do with ending your own life, and I don't think that's what Kara3 was getting at there.  But I think you're both wrong anyway.  You're not ruining your finances if you don't hold bitcoin; many people around the world don't, and they're doing just fine.  I'd love to see Kara3 look Warren Buffett in the face and tell him that line:  "Mr. Buffet, if you don't own bitcoin it's financial suicide!".  He'd probably just chuckle and politely excuse himself as he would if some person with a crackpot stock strategy started extolling the wisdom of following said strategy. 

Note: I'm not saying being extremely pro-bitcoin is a crackpot position, just making a comparison in the specific case of a chat with Buffett.