Quote from: BTC_pokaop on August 10, 2024, 04:15:30 AM

Recently I have heard from some newbies that they are more interested in investing in altcoin than Bitcoin. They think that investing in altcoins will make them more profitable. So Bitcoin can not be more profitable? Is it possible to earn more profit from altcoin?

I saw this some time in other platform so i think that the investment in altcoins can be very rewarding compared to Bitcoin because most of the market capitalizations of altcoins are falling, which can leave more room for growth. But this very profitable category contains a very high degree of risk and volatility; generally, altcoins are highly unstable and susceptible to market fluctuations, changes in regulation, and business failure. Since it is the largest and most well-known cryptocurrency, Bitcoin remains the most stable and secure, thus representing one of the safest currencies against altcoins. Some investors also keep promising altcoins along with Bitcoin to hold stability for maximum returns within a portfolio. Only with due research of each altcoin's fundamental analysis-technology, structure, and market potential-could maximum returns be realized with risks properly managed.

Quote from: beerlover on August 31, 2024, 08:20:33 PM

Quote from: X-ray on August 31, 2024, 02:43:57 AM

Quote from: wheelz1200 on August 30, 2024, 09:27:05 PM

They do it because they are looking "to get rich" and think one of these alts will have a huge run. It's also physiological in that ypu can buy some of these alts for pennies or less than pennies so they can buy a lot of coins. It's all relative but there truly is a theory that alts are cheaper. Also greed. Greed drives the entire meme market

Also the fact that there has been history of some low cap alts suddenly turns into multi billion market cap coin is what motivated them the most.
so many people actually looking for that kind of hidden gem and since such coin are quite frequent in the bullish market, people invests more and the market of alts become much more active with good gains and the cycle will be endless.

but I think the idea that bitcoin market cap is already too high that the volatility is low might also be huge contributor to the fact that there are many people who seeks volatility to profit off and alt serve exactly just that.
it all comes down to get rich quick scheme at the end of the day.

Which is a very very rare thing and yet people still think that it is possible for the ones they pick to become like that. I mean we know that it happens once every few thousand projects, which is why its such a low chance for it to go up like that, and we avoid it and carefully calculate our investments, and yet these people do not know that, or maybe know it but willing to take the risk and they end up with a lot of mistakes, which there is no need to do any of that.

I feel like its clear for all of us that bitcoin is the one to go, but even if we pick altcoins then we pick strong good coins, whereas these people pick stuff that may do 100x or crash and burn. If the chances were 50-50% then I would say it worths it, but the chances are mostly 0.001% to 99.999% so that is why there is no reason for me to take this type of risk, it doesn't make sense and there are some situations that caused this to be a very different situation without a doubt.

In fact, it is rare for a few cryptocurrency projects to experience spectacular success, which rarely happens once in thousands of attempts. Yet, many investors are hoping their altcoins of choice will go against the grain and emulate these very few success stories. However, most businesses fail or result in minimal return. With structured functionality and market power, Bitcoin is considered by many as one of the safest and most stable currencies. There are huge risks in investing in altcoins without proper knowledge, which can be very dangerous. In fact, the returns on potential that are possible with an altcoin are limited; hence, it is rather a high-risk bet than a reliable investment. Thus, well-thought research and a proactive approach, such as an investment in prominent cryptocurrencies like Bitcoin or stable, well-founded altcoins, has often been the smart thing to do while pursuing high-risk speculative opportunities with low chances of success.