Quote from: 0t3p0t on May 01, 2024, 12:33:00 PM

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Quote from: SickDayIn on April 27, 2024, 12:21:02 PM

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?

Yes, there have been thousands of failed, scam and useless altcoins but I don't think we should avoid all altcoins. I have no objection to someone investing only in bitcoin because it is the safest currency on the market. But let me ask, if we only talk about profits, what about altcoins like ETH, Link, Near, Solana...? If I remember correctly, ETH was created in 2013 and it is still growing bigger every day until now, the initial investors in it are making huge profits. Similarly, solana was expected to die when FTX collapsed but look at what it has done over the past year from $13 and it is trading above $140.

Yeah Altcoins has huge potentials really I am personally into Altcoins right now because I can buy some of them with my smaller funds but my plan is that all my profits in Altcoins will surely be converted to Bitcoin. I can't buy some Bitcoins with my small fiat money but I can do that on Altcoins I am into quantity right now because I can't do that with Bitcoin.

It is also a good way to increase the number of bitcoins for our long-term investment. I believe that if someone has good knowledge and is not stubborn or conservative, making short-term profits with altcoins is not too difficult. We then transferred some of the profits from altcoins to bitcoin, which couldn't have been better. But I don't understand why so many people hate investing in altcoins when there are so many opportunities for us with altcoins.
To me, we enter the market to make profits, so take advantage of every opportunity if possible, don't miss any great opportunities just because others say they don't like it.