Post
Topic
Board Bitcoin Discussion
Re: Why you should only hold Bitcoin
by
DanWalker
on 27/04/2024, 14:31:01 UTC
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But still alts have there own place we should not say every alt maker or developer made an altcoin to make profit while we are also holding our funds in BTC to make profits, making profit is not a bad thing for other and good for us, its good for everyone. I hope you got my point. And secondly, there is high risk of failure of a alt token, but not every developer made an alt to make profit, many are solving real world problem, like matic, bnb and some other as they allowed integration of thousands of dapps and other relevant project onto themselves which helped many newbies to make millions.

I also agree with you, I will not deny that bitcoin was originally created to be a peer-to-peer currency that would make us independent of 3rd parties. But look at what's going on, we all just use bitcoin to make profit so saying that altcoin projects are created just for profit is bad, this is too biased towards bitcoin.

Regarding choosing to invest in bitcoin or altcoin, I think our investment purpose is to make profits, so if there is a better opportunity than bitcoin, there is no reason to ignore it.

But I also need to remind you not to put too much faith in what altcoins advertise. We are still in the early stages of the cryptocurrency revolution and everything is experimental, it is hard to say that top projects will not fail. We should still be careful when investing whether it is bitcoin or altcoin. So far, other than being mainly used for investment and speculation, I haven't really seen any practical applications of cryptocurrencies.