Failed crypto project will promote bitcoin more

[Rruchi man]

What OP said would have been totally true assuming when projects fail, new ones don't emanate. If it happens so, it will mean that for each failed project, the participants will return to bitcoin until the very last project. But this is different from the reality. In reality, as many projects are failing, more are being launched and this enable people to jump from the one that has failed today to the one that will fail tomorrow and the cycle continues.

Someone who recently invested in a failed project will be so devastated that they may not want to invest again in cryptocurrency generally. Those who want to continue and really find out why they lost that investment will ask the right questions about the best cryptocurrency to invest in; bitcoins will always be mentioned, and if the person they ask has another opinion, bitcoins will still be mentioned in comparison, so they will somehow get to know about bitcoins. I believe this is what the OP is trying to express.

It is rare to see someone who just lost a lot of money to a failed crypto project in a hurry to invest again without better knowledge.
 

[348Judah]

The annoying part of it is that people will be involved in any failed crypto project and they are going to suffer a casualty in it, whereas that alone is not what makes bitcoin to get more attraction for adoption, instead, it will only teach others lessons in understanding the difference between bitcoin and altcoins, this will help them to know where to invest on and how to channel their investment on the right coin in cryptocurrency, because up till now, some cant still differentiate between bitcoin and altcoins.

[KingsDen]

What OP said would have been totally true assuming when projects fail, new ones don't emanate. If it happens so, it will mean that for each failed project, the participants will return to bitcoin until the very last project. But this is different from the reality. In reality, as many projects are failing, more are being launched and this enable people to jump from the one that has failed today to the one that will fail tomorrow and the cycle continues.

Someone who recently invested in a failed project will be so devastated that they may not want to invest again in cryptocurrency generally. Those who want to continue and really find out why they lost that investment will ask the right questions about the best cryptocurrency to invest in; bitcoins will always be mentioned, and if the person they ask has another opinion, bitcoins will still be mentioned in comparison, so they will somehow get to know about bitcoins. I believe this is what the OP is trying to express.

It is rare to see someone who just lost a lot of money to a failed crypto project in a hurry to invest again without better knowledge.
 

I understand you and as well as Op. What he said is true but not completely true. Bitcoiners from beginning are still bitcoiners, but shitcoiners hardly switch to bitcoin because;

• They are first given a wrong orientation that bitcoin is so expensive for them to invest.
• Also that bitcoin will not give them the desired profits they want
• That bitcoin is for the rich
• [They give them so many shits coins to invest and also prepare their minds against failure. They'll be like if this fail and this fail, atleast this other one will not fail.
• It takes self determination and personal research to break out from those gangs.

[DeathAngel]

Lots of newbies have to learn the hard way by getting scammed or rug pulled by chasing dreams buying shitcoins. Often it’s via failure they turn to the real deal, Bitcoin. I don’t like to see anybody get scammed or end up investing in a crappy token that has a Darth Maul candle to $0 but it’s often an experience that saves them in the long run as it sends them to Bitcoin.

[jrrsparkles]

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

[aylabadia05]

altcoins=>tokens=>airdrop>bitcoin
At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has. When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.

Let the beginner do their activities in crypto activities by not advising it to choose coins A or B is useful for them one day when it becomes experience. Luckily those who immediately chose Bitcoin because they would not suffer fate like those who chose Bitcoin at the end.

Do not dare to guarantee Altcoin and similar investors will end in a happy, but many will say Bitcoin investors will experience the end happily.
If I'm arrogant, only bitcoin and nothing else. The path that can take us to the destination rather than to the heretical road is Bitcoin.

[Solokan]

Yeah that’s true and I have experienced it too wherein we were lured to invest into new coins but ended up losing it all. It’s always better to stick to Bitcoin as I made a mistake in the past by investing my bitcoin gain into altcoins and I will never repeat it.

Yes, it seems like many people have experienced bad impacts due to investing in new Altcoins, especially low-quality Altcoins, but of course I personally have also felt something like that and finally realized that Bitcoin is the safest.

but of course not everyone can learn from their experience because many people, due to losses investing in crypto, ultimately don't want to jump in again and don't want to learn from experience and ultimately leave the world of crypto, but those who want to learn from experience usually always succeed, but yes, Bitcoin is still the ultimate goal. because up to now I know that Bitcoin has never disappointed its holders as long as they are patient and invest for the long term.

Yes, apparently you are a great person who can learn from experience and of course I also always learn from experience because experiencing bad things in the past is a lesson for us to be successful in the future.

[pinggoki]

Lots of newbies have to learn the hard way by getting scammed or rug pulled by chasing dreams buying shitcoins. Often it’s via failure they turn to the real deal, Bitcoin. I don’t like to see anybody get scammed or end up investing in a crappy token that has a Darth Maul candle to $0 but it’s often an experience that saves them in the long run as it sends them to Bitcoin.

Although it's the truth, it's something that can always be prevented if they just did their research which by the way, a thing that you should always do no matter what aspect in your life, it should never be a thing that you forget about, I think that as you age, that should be the thing that you do first so I'm not the feeling bad when it comes to these types of people falling for scams because they didn't do their research or even had an ounce of common sense that when you invest in crypto, that people are definitely going to try and scam you. There's also the fact that they haven't heard of the term too good to be true when that's a really common thing to say for most people, it's not even culture exclusive, every culture and country has the same kind of saying. Nowadays, those people that get scammed by this type of thing really deserve what's coming for them.

[Assface16678]

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

This is true. Many people or investors in the crypto currency world despise altcoins because they say that they tend to become scams or rugged pulled, which is somehow true, but let's note that not all altcoins are like that. For me and for my experience, there are a lot of altcoins that are profitable and legit. It's just up to the investor to do their research and be cautious so that they could avoid the scam or most likely to fall down altcoins. Those shitcoins are, I think, the most useless coins. We all know that shitcoins are built mainly for memes, and they have a higher or major percentage of scams or rug pulls. In conclusion, if you want to maximise the profit, then don't stay in one crypto currency only. Because there are many currencies that are profitable and also have a bright future ahead, you just have to look for them by doing research.

[peter0425]

As rare as it is, I have actually encountered some people back then that do not invest in bitcoin at all. They say that they prefer altcoins more. It surprised me of course as I didn’t think anyone invested in crypto but not in bitcoin. Personally I have no problems with investing in altcoins as long as there’s also some percentage allocated for bitcoin. I think it’s just the smart choice.

These people who invested in altcoins only reason that bitcoin is too expensive and they can get profit anyway from altcoins.

[CODE200]

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

Sometimes that's the only way for these people to get into bitcoin, they don't have the proper mentorship or they didn't have any proper guidance when they got into crypto investing and so they just jumped right in and this is what they got, they end up losing and although I can agree that some of them do end up investing in bitcoin at some point, there are a larger portion that would have a hard time trusting any other cryptocurrency because they don't want to lose anymore money than they already had with the last one that they got rug pulled. That's my sentiment too with altcoins, I feel like it's a matter of doing your own research and making sure that you're not investing only what you can afford to lose.

[avp2306]

This could make people to realise that they're chasing the wrong projects but it also end up in completely wrong way of they don't want to invest in crypto anymore even if it's better because some people can't face the loss so it's very important for them to land on the right foot if they don't want to learn the lesson in hard ways.

Altcoins on the other hand are not completely useless, it's important too because if crypto is going to be the future of payments then I don't think Bitcoin will be able to handle every transactions made, and the fee hike due to the spam ordinals show cases it in obvious manner.

Sometimes that's the only way for these people to get into bitcoin, they don't have the proper mentorship or they didn't have any proper guidance when they got into crypto investing and so they just jumped right in and this is what they got, they end up losing and although I can agree that some of them do end up investing in bitcoin at some point, there are a larger portion that would have a hard time trusting any other cryptocurrency because they don't want to lose anymore money than they already had with the last one that they got rug pulled. That's my sentiment too with altcoins, I feel like it's a matter of doing your own research and making sure that you're not investing only what you can afford to lose.

I know a lot of people know NFT first or airdrops before they know bitcoin and its not surprising at all to see that since those altcoins are well shared into different community compare to bitcoin and later on they only realize that the top coin in the market exist especially if the price of this coin pump up already. Although we can't expect those new people to participate on any bitcoin activities. But at least they know that there is more better coin exist and once they are done with those rug pulled scheme you mentioned and other scams then they can go after with bitcoin and try their luck for trading it or either for long term holder to see if they can make more better results there. Sometimes I didn't have any guts to hold alts since what I commonly do with it is to dump immediately because same as you its hard to trust them knowing their reputation is always questionable.

[Fiasem20]

Exactly most people in crypto space started from the wrong way.Just like airdrops have gained popularity around the globe and lot of persons are into airdrop,and when the token dump they'll return to the coins with high potential Bitcoin to be precise.Indeed failed crypto projects have promoted Bitcoin, people may want to learn things the hard way, they're some people that heard of Bitcoin but chose to invest on airdrops and memecoins after being scammed they pull themselves from that circle and invest in Bitcoin which happens to be the pioneer of all the coin in the crypto space.

[0t3p0t]

This makes sense!
I can relate to this also because I remember before I was really lured to altcoins. Even I started with Bitcoin, like some of my Bitcoins before were converted to altcoins and I lost so much, after that I learned the lesson and started to hold and focus more on Bitcoin instead of altcoins.

That is what commonly happen to I think majority of crypto enthusiasts but some just make it as a diversification of their assets which is I think a smart move as they are owning both Bitcoin and Altcoins. But most newcomers to crypto experience that thing no doubt about that. I also started with Bitcoin adopt Altcoins and then have them both though just a few amount of dollars but yeah better than nothing.

[Awaklara]

altcoins=>tokens=>airdrop>bitcoin
At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has. When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.

Maybe because you are a beginner, choosing the wrong path is normal. the experience gained will probably make them finally realize that Bitcoin is the best asset they should have. not altcoins and a lot of trash tokens that waste their time.
On the other hand, we also have to realize that the existence of altcoins makes the market more attractive. some get losses but some get profits from there. and those who are smart will shift profits to Bitcoin.
everything is a process of learning and understanding. Altcoins will continue to exist and multiply. but Bitcoin will still be the best.

[bluebit25]

Knowing crypto I increasingly acknowledge the fact that I end up coming back to bitcoin more, but I also acknowledge the opportunity with altcoins is great in the space. Maybe it's because the size of each person's assets will be different that leads them to risky/safe choices, but at some point most achievements need to prioritize safety more so the shift and trust in bitcoin is inevitable.

I have gone through periods of ICO trends, which can be said to be times when I traded off between choosing risk and seeking more profit. But after being exposed to that, I was startled and laughed. It helped me see my own stupidity when I was blindly led by greed. Anyway, I see the importance of bitcoin in the portfolio, literally no need to do anything complicated but just watch things happen.

[wahyuagung26]

At the end of these exercises investors will turn to bitcoin as the best to invest because of it quality it has.

In general, large and wise investors base Bitcoin more on other coins, but this is a very good concern, Bitcoin prioritizes superiority and excellent quality so there is no big doubt about Bitcoin, we prioritize Bitcoin over various other investments. , so far keeping Bitcoin is a very good thing.

When beginners are going the wrong way in investing cryptocurrency their is nothing that can be done to stop them but the experience they will go through their is a lot to learn from it to true back to the right thing which is bitcoin.

Most beginners like that don't realize the meaning of everything they have done, and maybe every beginner has a different reason for new things to try, and of course they have to study this well, because this is the place where they know about crypto and the outside world that tends to take them in a better direction, we have noticed some of them continue to study Bitcoin and what actions they should take.

[Blitzboy]

This guy's right! Fly-by-night crypto projects promising the moon are everywhere, like a reality show. Its entertaining, sure. See, Bitcoin is way more perfect. It has history, infrastructure, security, and millions of global trust. These other ventures are trying to ride Bitcoin's coattails, but people recognize they were duped.

You know what? Nothing wrong with that. All part of learning. After trying dazzling new things and getting burned, many return to Bitcoin. Human nature. Yes, let other ventures come and go. It solidifies Bitcoin's crypto dominance. Bitcoin will be larger and better as the dust settles.

[legendbtc]

What OP said would have been totally true assuming when projects fail, new ones don't emanate. If it happens so, it will mean that for each failed project, the participants will return to bitcoin until the very last project. But this is different from the reality. In reality, as many projects are failing, more are being launched and this enable people to jump from the one that has failed today to the one that will fail tomorrow and the cycle continues.

Someone who recently invested in a failed project will be so devastated that they may not want to invest again in cryptocurrency generally. Those who want to continue and really find out why they lost that investment will ask the right questions about the best cryptocurrency to invest in; bitcoins will always be mentioned, and if the person they ask has another opinion, bitcoins will still be mentioned in comparison, so they will somehow get to know about bitcoins. I believe this is what the OP is trying to express.

It is rare to see someone who just lost a lot of money to a failed crypto project in a hurry to invest again without better knowledge.
 

Not really, many will continue to look for new projects because they think they can regain what they lost with a more promising project but eventually they will lose all their money and then realize that it was all a scam. But many people after losing everything by investing in scam projects, they lost all will and refused to admit it was their fault, and they started considering all cryptocurrency projects as scams, including bitcoins.
The frequent failure of crypto projects will not promote bitcoin more but will instead make people consider the entire crypto market a scam. I think there will be positive and negative effects of altcoins failing for bitcoin but I think it will create more negativity for bitcoin.

[kotajikikox]

Exactly most people in crypto space started from the wrong way.

I wouldn’t say wrong. Cryptocurrency is not just bitcoin however it is the best. I still think people are entitled to some of their preferences. I think bitcoin is my best option among others but I wouldn’t judge someone who doesn’t invest in bitcoin.

It is their money after all and I am in no way responsible of that.