Should altcoins be blamed?

[bayu7adi]

Just Invest in bitcoin if you want the safer and best one.

Even though Bitcoin is already trusted and arguably has better fundamentals than many altcoins, investing in Bitcoin still requires skill. The market remains volatile with no guarantee of success for anyone, so every move should be based on a well thought out strategy and calculations.


It's true that the responsibility for losses in the cryptocurrency world ultimately falls on the individual, as it's about anticipating the conditions of the crypto market. Rather than guaranteeing that investing in Bitcoin is safer and better, my best practice is to advocate for learning techniques like DCA or weekly/monthly to accumulating BTC . Or if you feel confidence, buy the dip is another one strategy to do. Just discuss what you need to know in this forum.

https://dcabtc.com/ >> simulation if you do DCA from the past

A Complete Guide for Cryptocurrency Newbies "The Best Way Of DCA" >> thread from Bitcointalk about DCA guide

[gabbie2010]

A lot of persons who despise Bitcoin or crypto currencies in General were once involved in them.some of these persons hated Bitcoin and crypto in general because of some common reasons.
Some of these persons may never have ventured the crypto space nor Bitcoin investments before because of some government restrictions against Crypto especially in countries like china etc where the government is strictly against it. Others are just afraid due to possible stories they have heard of people who lost drastically in the crypto space either due to hacks or scam.
However my main interest here is solely towards those who have invested in crypto in the past.Most of these persons hate Bitcoin and other Crypto currencies due to the great loss they suffered from dips in alt coins .most of these losses were as a result of improper understanding and experience before attempting massive investments.Of course some early adopters of Bitcoin who sold or lost access to Their coins have also lost faith in the crypto verse.
My question is should altcoins really be blamed for hate some persons have for Bitcoin due to their loss in alt coins?

As new crypto investor I believe the major point of interest should be investing in Bitcoin personally I knew bitcoin first thereafter other altcoins, investors who blamed Bitcoin for there misdemeanour weren't fair enough as new crypto investor the major point of interest should be Bitcoin this should be based on it past records it's obvious investors of Bitcoin who bought at lower price that is when it was in bearish run always having the opportunity of earning decent profits whenever it price peaked thereafter dump again and the cycle continue next Bullrun is next year during halving another opportunity for investors to cash out some profits all these is synonymous with Bitcoin because a sure profit is guaranteed unlike new investors who never study nor research on altcoin just invested blindly are now hating Bitcoin.

[puloweh555]

Such a mentality is a disorder that makes his social life also influential and always suspicious of what others do.
Does not accept when he loses or suffers losses and says that anyone is sabotaging.

This happens a lot, sometimes when people experience losses they blame other people and even consider the coins to be fraud even though what actually happened was purely our own fault because we were mentally unstable so we made the wrong decision. So it is important as a trader or investor to have a stable mentality and healthy psychology.

When in fact there is nothing to blame, When the loss in trading is not due to the altcoin chosen, but it is one's own fault.
If we as traders are smarter, then we can get past these mistakes.

Yes I agree. A successful person will definitely use their mistakes as experiences in the future, not even Atlcoin who is blamed. Because there are so many altcoins that have good and solid fundamentals. It's just that we have to be smart in choosing it and know when is the right moment to buy and sell.

[Dr.Osh]

I don't know why so many people hate altcoins, but if they hate crypto because of the losses they experienced on the altcoins they invested in, then I don't think that's a wise thing. As we know, investment is a risky thing, especially for crypto. If these people looked for information before investing in crypto, I'm sure they would find lots of warnings that this is a very risky investment, therefore they would be pressured to look for information and do in-depth research.
When they suffer a big loss, they should be ready for it. I think, when they hate crypto or bitcoin for reasons like that, then I feel that they are just looking for a place to get angry because the investments they made resulted in losses, and, that is not a wise thing.

[SOKO-DEKE]

My question is should altcoins really be blamed for hate some persons have for Bitcoin due to their loss in alt coins?

I don't think you should hold altcoins responsible for your ideas not working out the way you had intended. Recognize that prior to making an investment, someone must possess the necessary knowledge about the business you wish to start. Anyone who has invested in altcoins after seeing Bitcoin and choosing not to buy it, in my opinion, is doing so because they value altcoins more than Bitcoin. Because no one forced you to invest in altcoins, you didn't have to blame altcoins if they later turn to scam project, instead, you had to blame yourself for choosing the wrong altcoins.

Not that some alt coins don't have potential but Bitcoin just feels more solid. Course if you wanna speculate and take some risks, maybe higher rewards with the smaller cryptos.  But as a safe bet stick with the big dog.  Even throwing a bit of cash Bitcoin's way here and there can add up over time.

It appears to me that virtually no cryptocurrency has potential, and those that do aren't comparable to Bitcoin. With minimal risk, Bitcoin is currently the best investment in the cryptocurrency market, having shown us its strength over time. Indeed, a few altcoins that showed promise a few years ago are now down and nowhere to be found. As a result, if you wish to invest in the cryptocurrency space, buy Bitcoin as it carries less risk. However, you should only ever invest money that you can afford to lose.

[Bitcoin_people]

Investing in Bitcoin never incurs such losses but rather profits, but investing in altcoins is a fool's errand. A person who invests in altcoins for a long period of time can never be a wise person rather he sets out to invest in that place only to lose his money. People who buy altcoins can never profit in the future although there are some coins that give more profits in a short period of time but it is always high risk. It is better to invest in bitcoins to protect your money as you can face losses and lose money at any time. Bitcoin is always the best project for long-term and short-term investment, in an implementation we all know most people prefer Bitcoin transactions. That's why you invest avoid altcoin investment it will be risk free for your money and you can profit.

[gunhell16]

Just Invest in bitcoin if you want the safer and best one.

Even though Bitcoin is already trusted and arguably has better fundamentals than many altcoins, investing in Bitcoin still requires skill. The market remains volatile with no guarantee of success for anyone, so every move should be based on a well thought out strategy and calculations.


It's true that the responsibility for losses in the cryptocurrency world ultimately falls on the individual, as it's about anticipating the conditions of the crypto market. Rather than guaranteeing that investing in Bitcoin is safer and better, my best practice is to advocate for learning techniques like DCA or weekly/monthly to accumulating BTC . Or if you feel confidence, buy the dip is another one strategy to do. Just discuss what you need to know in this forum.

https://dcabtc.com/ >> simulation if you do DCA from the past

A Complete Guide for Cryptocurrency Newbies "The Best Way Of DCA" >> thread from Bitcointalk about DCA guide

There are many people who invest in Bitcoin who have no skills and no deep knowledge of it, because others only invest in it because of what they hear that is positive about it. Let's face it: in short, only those who are really hyped.

Today, there are also people who are able to invest in Bitcoin because they also have a deep knowledge of it and a wide knowledge of the trading industry in the crypto space, to be honest.

[ndutndut]

I've seen my fair share of people sour on crypto because of bad experiences with altcoins. It's a bummer when folks dive in without really understanding the game. I've had my own ups and downs, but blaming altcoins for hating on Bitcoin?

Of course you can't blame BTC because Altcoins and BTC are different. Indeed, many altcoins attract traders who are greedy and only chase multiple profits so that many of them end up with losses, but this doesn't mean they have to hate BTC, this is all because of their own fault for not understanding deeply the Atlcoin they invested in.

And usually people who blame BTC are usually lay people or people who are new to the world of crypto. For those who have known about crypto for a long time, they are wise in assessing things, and of course their investment choices still prioritize BTC investment because BTC is the coin of the future, we will not suffer any losses as long as we keep holding it.

[Litzki1990]

If an investor loses money due to some mistake of his own, then he should not blame his Bitcoin or any other crypto currency for that mistake. If you don't know enough about investing, but if you are trading futures with maximum risk, is it safe for you? There are many investors who see the profit of others and invest good amount of money in various altcoins in the market which have very low market volume. Low market volume means people trust that coin less and people are buying and selling a lot of that coin but if you invest huge amount of money in that coin without understanding everything and lose money and later blame the crypto currency then that is a wrong move for you.

At the beginning of investment first select good quality coins then invest in those coins hope crypto currency will give you good things.

[wallet4bitcoin]

My question is should altcoins really be blamed for hate some persons have for Bitcoin due to their loss in alt coins?

The reason why a person hates a particuar thing doesn't change the solution the particular thing offers, in this case, altcoins.

It is said that if one man drowns in the water, it doesn't stop the next man going to the water from fetching it. People have different experiences even in the conventional world.

Ponzi scheme for instance, create millionaires and also causes people to loose money. It still doesn't change its modus operandi irrespective of the hate, same as altcoins.

Hate it all you want, it is still Altcoin.

[elwinsmith]

The answer depends on individual perspectives; blaming altcoins may be valid for those who suffered losses, but others may attribute it to personal investment decisions.

[MFahad]

The answer depends on individual perspectives; blaming altcoins may be valid for those who suffered losses, but others may attribute it to personal investment decisions.

I think it would be wrong if people who have suffered are blaming altcoins. Wherever we invest, be it Bitcoin or Altcoin, our own strategy can bring us profit or loss. There may be some altcoins that have hurt people or that have had their value drop due to project failure, but they will be few and far between.

In comparison, there are many altcoins that have given people a huge profit, but the difference is that people who bought at the right time have made good profits. So sometimes it is our own fault that makes us lose and we blame it on that investment or trade. One should always remember that a good choice and a good entry can give us good profit and wrong time entry always leads to loss.

[Ojima-ojo]

@op, altcoins aren't to be blamed for anything, bitcoin was never meant to be the only cryptocurrency that will exist, else, there wouldn't have been other crypto currencies we all refer to as altcoins today, and besides, altcoins have been a blessing and a life saver to bitcoin far more than any of us can ever imagine, why did I say this? I will explain below.

Think about all the altcoins we have today, think about all the number of transactions they pull and confirm every seconds of the minutes and hours of the day, now, imagine what the bitcoin network would have been like right now, if all of this transactions were carried out only through bitcoin, by now, I believe that, to send maybe like $5 worth of bitcoin, you possible may likely have to pay up to $100 or more in transaction fees, and you may still have to wait for like days before you get a confirmation due to the hundred of millions, if not billions of transactions waiting on the list.

Altcoins to me are more of a blessing to the welfare of the bitcoin network, other than something to be blamed for those who gave up on crypto because of one misfortune or the other.

[Stepstowealth]

My question is should altcoins really be blamed for hate some persons have for Bitcoin due to their loss in alt coins?

Any losses made by people to altcoin is due to their own mistakes and poor information, because with the right amount of information, they would have known that investment in altcoins is even more risky than investment in bitcoins. What has likely lured more people to invest in altcoins instead of bitcoins is that they must have reasoned that they were already late to investing in bitcoins to make profit, so they chose altcoins thinking they will be able to profit from it. In their focus to profit from cryptocurrency, they make the wrong investments.

[flyingcarpet]

I've seen my fair share of people sour on crypto because of bad experiences with altcoins. It's a bummer when folks dive in without really understanding the game. I've had my own ups and downs, but blaming altcoins for hating on Bitcoin?

Of course you can't blame BTC because Altcoins and BTC are different. Indeed, many altcoins attract traders who are greedy and only chase multiple profits so that many of them end up with losses, but this doesn't mean they have to hate BTC, this is all because of their own fault for not understanding deeply the Atlcoin they invested in.

And usually people who blame BTC are usually lay people or people who are new to the world of crypto. For those who have known about crypto for a long time, they are wise in assessing things, and of course their investment choices still prioritize BTC investment because BTC is the coin of the future, we will not suffer any losses as long as we keep holding it.

There is both winning and losing in investing. Everyone who invests should know this. Everyone should do research and know the dynamics of the market when making investment decisions. It would not be right to blame BTC because comparing BTC with an altcoin would not be a correct comparison.

As you spend time in the market, some things can be interpreted better. You are right that we will not suffer any losses as long as we continue to hold Bitcoin.

[Odusko]

My straightforward answer to that question is that individuals should blame themselves because instead of researching and building knowledge,  they were busy looking for quick profits which landed them on the path of shitcoins that were just pump-and-dump scams, this incident has affected those set-of people on a bad way to the point that, some of them now view assets like bitcoin as a scam because of their low level of knowledge and that is something that we all have to enlighten them on and to see how we can educate others on the risk of investment on altcoins.
Alot needs to be done to educate the general public on the benefits of blockchain-based assets, such as Bitcoin which is seen as the digital gold, and we should refrain from the fake assumptions that cryptocurrency is a scam due to the bad experience of some set of people.

[GeorgeJohn]

We can not explain the reason while some people in different countries is afraid of bitcoin, I know quite well that what makes people to be afraid of bitcoin is the information they acquired from people who is against bitcoin, I know quite well from the initial that while people is afraid of bitcoin is because government is against the development of bitcoin starting from the day one bitcoin is been introduced so we can not blame them because they ignorant of bitcoin, so I believe that the major objective while bitcoin is existing today is because is a decentralized kind of exchange.

[Finestream]

Most probably, past experiences also made people to hate bitcoin as well. But I think the most reason why people turns hatred into bitcoin because of the wrong impression they have with bitcoin. The government made them believed that bitcoin is nothing but a ponzi scheme and is here to as a tool for criminals. And here comes these people who easily believe without doing DYOR, so they end up hating bitcoin and missed the opportunities that they can benefit from it, due to wrong assumptions that will made them regret definitely in the future.

[JoyMarsha]

My question is should altcoins really be blamed for hate some persons have for Bitcoin due to their loss in alt coins?

I don't think so, altcoins and bitcoins are two entirely separate entities in the world of crypto investing. They are not comparable. An investor can't have their investment made in altcoin and they lose to it, they now begin to blame bitcoin for the loss of their altcoin investment. Where is it done, that one loses to something(altcoin) out of their own mistake, and they begin to blame the other(bitcoin) just because they share the same space? That's unreasonable

[_BlackStar]

We can not explain the reason while some people in different countries is afraid of bitcoin, I know quite well that what makes people to be afraid of bitcoin is the information they acquired from people who is against bitcoin, I know quite well from the initial that while people is afraid of bitcoin is because government is against the development of bitcoin starting from the day one bitcoin is been introduced so we can not blame them because they ignorant of bitcoin, so I believe that the major objective while bitcoin is existing today is because is a decentralized kind of exchange.

The question is not about real use cases that the government is against - but the OP's question is:

My question is should altcoins really be blamed for hate some persons have for Bitcoin due to their loss in alt coins?

In my opinion - altcoin and bitcoin have their own user base in the crypto industry. I'm not sure if either of the two is to blame - but both have a correlation to the growth of the crypto industry so far. Each has its own assumptions and shares its opinions - I don't blame altcoins and bitcoin either, it's because the purpose for which they were created is different.