Quote from: Zaguru12 on April 10, 2023, 06:30:20 PM

Quote from: Dr.Bitcoin_Strange on April 10, 2023, 06:22:31 PM

I wonder why a newbie would even want to invest in altcoins. Crypto newbies may not even be aware of how to look at a project white paper and identify if there are some tricky things with it. Newbies don't know fully well how to check the Twitter, Telegram, LinkedIn, Discord, and other social platforms of a project to decide if it's a project to risk their funds for.

Funny enough The social media this days is one of the last places to go and do research on new cryptocurrency projects. Infact it was through social media promotions or hypes by celebrities that newbies have the narrative of getting rich quick through cryptocurrency. Some of these Alticoins have a very well established and even verified account to promote these projects that end up dumping.

I don’t warn People not to invest in all these alts because some of them turn out to have a great pump during the bull run I will always warn people that these alts are more less gamble to accumulate and shouldn’t be placed in same category as bitcoin. And one who is looking for an asset to invest in should stick to bitcoin only

The truth is we can’t stop people from investing their money into altcoins because the social media is telling them the opposite thing. And we can’t be certain too if they won’t really make it big with altcoins in the future since everything in the market is uncertain. Even bitcoin that is quite profitable these days might stop from rising in the future, no one really knows.