Quote from: Fivestar4everMVP on November 10, 2022, 08:03:41 PM

Celsius(CEL), Terra(LUNA) And more recently, FTX(FTT) Crash, What Lesson Are We Being Taught?

We are being taught not to trust in Altcoins, Bitcoin is the only cryptocurrency that should be trusted, if you are investing in bitcoin, after buying and moving your Bitcoin to your Non-custodial wallet, and keep keys in a safe and secure place, you are free do delete the wallet, even leave crypto completely.

Come back in 10, 15 years, get your keys, get your non-custodian wallet back up and restore your wallet, your bitcoin will be just as you left it..
Maybe with a better usd value?- Maybe but that's not the main purpose or message in this topic, the message in this topic is that --After staying away from crypto for so many years, you still meet your bitcoin the same way you left them in your non-custodial wallet, you can decide to move it to an exchange and sell or keep holding.

On The Other Hand...

If you are investing in Altcoins, then it is mandatory to always be online every day following development update as well as the market, as you never can tell what decision the team will make at a particular time that will trigger a sell off, you have to be there to catch some part of your money as they flee Grin

, but if you are the type that buy altcoin and stay offline for like a month or two before checking again, you might just come back one day and discover that the altcoin you bought and kept it as a future investment are now worthless.

Now, imagine business men/women, working class men/women who bought FTT(for example), kept it in their private wallet and because they are too busy with their day job, they don't have time to follow the project up, they probably trusted FTT as a very genuine investment.
Think about how they must be feeling the day they might decide to check to see how the price is doing only to discover that FTX exchange is no more and the native token have gone to hell to say hello to satan Huh

Even a simple shift from one contract address to another ( which is very common with Altcoins) have costs inactive investors their money, as they were not online to follow the process provided by the project team to shift their tokens from the old contract to the new one at the provided or specified time period.

Conclusion

If you are not the type that spend several hours online everyday like me, then please give more attention to buying Bitcoin.

I will give three reasons why..

Bitcoin is the only cryptocurrency that has no team to make useless decisions that will crash the price or destroy the project.
Bitcoin has never and will never experience a shift in contract address (cus it has non) that will leave you with worthless coins if you are not online at the specified time period to swap, as it is common with most altcoins
Bitcoin has the most liquidity, it can never be delisted from any exchange due to low trading volume as it is with some altcoins in the long run, so be rest assured that even if you are away for 10 or more years, anytime you come back, there is always some body ready to buy your bitcoin from you at the market price.

A lot of reasons, learn and never invest in altcoin and abandon it and say you will come back in the future to cash out millions, you might just return in the future and discover there is no longer a project associated with the altcoin you bought.
If you must be Away for even a day in this space, Buy Bitcoin instead.

Keep in mind that BTC like altcoins are paired to USDT. USDT can't be trusted as they are not backed by adequate collateral.