Quote from: 1Referee on December 01, 2018, 05:48:30 PM

Quote from: clrpod on December 01, 2018, 12:37:35 PM

On one hand, it's more clear now the potential bitcoin has and it's closer to achieving that so there's less risk, but the upside is lesser because of the already higher price. Alternatively previously the potential profit was much higher but the risk was more. I'm not sure which was a more attractive investment proposition.

If we look at most of the newbies here, then they don't really mind the risk considering that they have been going nuts on shitcoins to find the next Bitcoin or Ethereum. If you also add that most people by now have figured out that pretty much every altcoin goes up more than Bitcoin does percentage wise, it's an easy choice for them.

In the end, it takes time for people to appreciate why crypto has value in the first place, which is why bear markets are great. Instead of focusing on gains, they can now read into Bitcoin for example, engage in discussions here, etc. Almost every person here started as get rich quick noob, people often tend to forget that.

Sure, long term alts don't on average perform better than bitcoin though, or else its market dominance would be continually in decline. It's held pretty steady around 50% for some time which is impressive as more alts are added each day.

You're probably right about the majority starting as get rich noobs, I can say that my motivation for buying bitcoin at first was definitely financial. I did research bitcoin a little but I have learned a lot more since then. It's easy to forget your own beginnings and lament the people who are in the same place you were, just a few years further down the line.