Quote from: Hell-raiser on September 13, 2018, 02:06:20 PM

Quote from: Betwrong on September 13, 2018, 11:25:25 AM

Quote from: roflmao129 on May 28, 2018, 12:00:55 AM

HOlding is the best thing you can do for profit if you do not know anything about cryptocurrency or the crypto market. MAny holders have multiply their balance to many times. HOlding bitcoin is the safest way but if you want to earn more money, hold other coins such as ethereum, NEO, ripple

Well, now we can see that advises in the manner of "invest in other than Bitcoin crypto to earn more" are not always good ones. Let me demonstrate with numbers that the above advice was wrong and should be rather formulated as "if you want to lose more money, hold other coins ... "

Here's how the price of coins mentioned in the quoted text has declined since the time of posting, May 28, 2018 to this day:

BTC $7,200 -> $6,465

ETH $579 -> $193

XRP $0.61 -> $0.27

NEO $50 -> $18

As you can see Bitcoin has lost roughly 10%, while all the other coins from the list have been deprived of 50%+ of their price.

And what does that tell us? In my opinion, it tells us that most people are fully aware all other coins are not really much better than the cryptoking. Bitcoin, even despite its well-known shortcomings such as slow confirmation times and high transaction costs does its job pretty well. Some coins are faster (like Litecoin), some have special features (like Ethereum), but people need a reliable and trusted currency which does what a currency should minimally do, that is transfer value. I don't personally believe in Bitcoin as digital gold as gold is a totally different beast, but Bitcoin fits well where fiat currencies fail, first of all, at being independent from the whims of governments and other third parties (for example, banks).

Yep, it tells us exactly what you said. Although the Bitcoin adoption is far from what it should be and according to various estimations amounts to from 0.3% to 0.7 % of the world population, BTC is much more trusted crypto than any other and there are good reasons for that, like those that you've mentioned, for example. Yet, some people keep repeating like a mantra that investing in other cryptos is more profitable.