Post
Topic
Board Bitcoin Discussion
Re: Why you should only hold Bitcoin
by
SickDayIn
on 27/04/2024, 12:51:36 UTC
According to CoinGecko, there are over 2.5 million cryptocurrencies (read more here: https://www.coingecko.com/research/publications/how-many-cryptocurrencies-are-there).
You can read more information for

How many cryptocurrencies failed, dead?
How many Bitcoin forks are dead?

Then you will see more risk from altcoins (Bitcoin forks are altcoins too) and make your investment decisions more carefully and have more fear about altcoins, then avoid altcoins for your portfolio in long term.

Dead Coins: Over 50% of Cryptocurrencies Have Failed
How many Bitcoin forks are there?

I agree that Bitcoin forks are altcoins and the same context from my thread applies, when I say you should only hold Bitcoin, I mean only Bitcoin and nothing else, not including Bitcoin Cash, Bitcoin Gold, BSV or anything else.

Whilst there are metrics out there for dead coins (no market cap or no liquidity for trading), a coin may still be alive and traded regularly, but still I don't think any alt coins should be in someone's portfolio. Alt coins are created to make the owners wealthy primarily, or become highly centralised and governed by organisations with selfish intent. The only one free of this is Bitcoin..