Post
Topic
Board Beginners & Help
Re: Bitcoin for beginners: Five tips you should know as a beginner
by
Coyster
on 30/11/2022, 11:24:25 UTC
Now from your second reply I can see you're against the Altcoin idea. Yes it's a risk but isn't that all crypto is all about "sometimes you win, sometimes you lose".
If you are gambling/trading with scam coins (altcoins), then yes; you win somedays when the coins you selected are pumped, and you lose somedays when you can't sell quick enough and they dump right on you; when a coin doesn't have any actual utility or real life usage, it becomes only useful for gambling or pump and dump, that's why altcoins are generally referred to as short term products.

Having said that, Bitcoin doesn't follow the idea of winning or losing somedays, except you the investor are impatient or moved by FUD, Bitcoin is a currency/asset that has an actual utility, if you want to hodl it as an asset then you must do so for the long term, it also has its own real life usage as a currency for buying goods and services; Bitcoin is no longer an 'experiment', it is now a proven entity that serves quite a lot of purposes, and thus it gives investors confidence to buy it anytime.