Quote from: teamsherry on Today at 07:15:28 AM

Quote from: JayJuanGee on Today at 01:35:54 AM

Quote from: Falconer on May 18, 2024, 06:37:01 PM

Quote from: mv1986 on May 17, 2024, 11:33:24 PM

Quote from: Falconer on May 17, 2024, 09:36:01 PM

-snip-

I sometimes feel that everyone who hears something about cryptocurrencies will search for the next thing that he or she believes will explode 10000x. It is the feeling that they missed the train and now find themselves hunting that one coin nobody else knows about. In other words, probably 90% of new investors decide against going down the solid route and DCA into Bitcoin overtime right from the start.

The worst is when you get into hopping from Bitcoin into shit coins and try to do that repeatedly, hoping to double your money. In the very, very beginning I have given some shit coins a shot and while it is exciting to see some of them go up, the markets for them very quickly dry out or some of the "dev wallets" get flash dumped and you are screwed.

Yes, I quite understand it, and of course you have explained it well.
There are several common reasons why some new investors own altcoin compared to bitcoin, one of which is that the price of bitcoin is very expensive compared to altcoin price.

that is a dumb idea, and not even worth repeating here.

I really don't see any reason why people still consider altcoin diversification as a thign, what is the need for doing that when supposedly all the altcoin are just an inferior idea of what bitcoin is, and worse of all its lame thinking that they is any safety net in putting money there just incase something goes wrong with bitcoin, IMO If something were to happen to bitcoin that would definitely affect every other altcoin in the same time.

Yeah we can't drag people off their will to invest in shitcoins, but that shouldn't be the main portfolio, bitcoin price is an excuse with DCA anyone can own bitcoin and still get rich out of it, I think shitcoins is an excuse to gamble and shows how short term an investor really is .

Really a bad idea especially if they think about they can get quick profits with this alt since they might just burn their capital especially that everything on altcoins are more unpredictable and we don't know if there's a chance that we can recover if sudden negative scenario will come up. Also if they think about investing on it for long term well more risk will come for the side of people doing that since we know that altcoins posses huge risk so they should erase the thoughts about having and go directly with bitcoins if they really want to get higher chance to get good profits on their investment.

It maybe hard to influence people to think about dropping their thoughts about investing on shitcoins but hopefully they would realize shitcoins is just a waste of time and can give their stress. Bitcoin proves a lot of things that's why its better for investor to think about having bitcoin first on their portfolio since this could give them more higher chance to get realistic profit especially if they aim is to save up some good amount/volume for their future.