Post
Topic
Board Altcoin Discussion
Re: Why are investors so sceptical about Altcoins?
by
Minecache
on 26/02/2023, 03:10:50 UTC
... I believe the reason behind why most people suggest to invest only on Bitcoin here is because this is Bitcointalk and people preferred Bitcoin due to its feature.

Maybe this is the reason, since we are in bitcointalk and most people here just like bitcoin, they are bitcoinists, so we won't see too much altcoins advice here. Honestly, I've joined a few local investment groups on social media, and I've found that most of the people invest mainly in altcoins. Very few people invest in bitcoin because they think altcoins will make them rich faster than bitcoin. And they are all willing to take the risk to invest in altcoins, and during the bull season of 2021, many people got rich quickly by investing in memes, altcoins.

Yes, there are a lot of Bitcoin maximalists here, and that's why there are so many people who have negative views about altcoins. However, Bitcoin maximalists have rational reasons to become Bitcoin maximalists. One of them can easily be seen by looking at the historical page of Coinmarketcap (https://coinmarketcap.com/historical/). In my opinion, people who do not have enough experience should definitely stay away from altcoins.

I agree with you that altcoins are not for newbies because of the risks they bring, but it should not be denied that altcoins are also a very good way to make profits if we know how. We should give helpful advice to newbies about altcoins rather than making false claims about altcoins to newbies. We enter the cryptocurrency market looking for profit as long as it can be profitable for us, we should not pass up the opportunity. As long as we know what we're doing with our money and are willing to take the risk if we make the wrong decision, we can invest anywhere.