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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.
They seem eager to buy a lot (meme or otherwise) that they find profitable, but at the same time they fail to understand that bitcoin can also give them returns if they know how to manage their investment budget. As mentioned, DCA will help them earn more bitcoin over time, but their big ambition for altcoin profit mean some of them don't want bitcoin in their portfolio.
The proof lies in the data for Bitcoin. There are threads that explain in a very solid way where somebody would be if they had investors X amount over time in a certain interval. It is mind-blowing and only in hindsight do more people understand how powerful DCAing would have actually been for them even with small amounts.
Of course DCA is good and would be better if used consistently for accumulation.
No, I assume it is the lack of understanding the semantics of what you post. If you say that they think Bitcoin is expensive compared to "altcoins aka shitcoins", it often is the case that they don't even understand the principle market cap is based on. They go for Dogecoin and see it is pennies, while they don't take into account that there is a multitude of coins in circulation compared to other coins. If those people decide to buy a coin based on the sheer price they see, how can you even help them? There is no point in explaining Bitcoin in better detail. There is no need to let them know the value Bitcoin does indeed have!
Intrinsic value I would argue! Capital mobility, self-custody, neutrality, etc. I understand that speed and transaction cost are a problem at the moment, but these problems do not negate the advantages Bitcoin has. I have been holding presentations about Bitcoin since 2013 and in my opinion nothing has changed. All the advantages it had back then, it has right now. The only thing that changed is transactions cost. It's a big one, I admit. But I feel there will be solutions to that to a degree that Bitcoin is not only the better gold.