Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
JayJuanGee
on 22/10/2024, 23:24:42 UTC
[edited out]
Lots of us here have made such mistake in the past, by  buy and holding shitcoins all in the name of making huge profits or maybe due to hype by paid influencers on social media, in my own case i was airdroped a particular coin and also bought it after a while when I noticed few pumps by the owners but then after a while I watched the coin I was holding dumped rapidly before I could realise I lost alot and was very disappointed. That's the difference between other coins and Bitcoin, most of them are pump and dumps and are not good for investment purposes (buying and holding) Bitcoin is the best Cryptocurrency that suits that category it's the best Cryptocurrency when it comes to investment and even when it dumps people who invest in it can still recover their lose so far they're using a good investment method like the DCA, which enables investors to recover lose so far they follow it's concept of buying periodically. It's good you made your research and it's helped you correct your errors and instead of investing in another coin that would pump and dump, you've realised that Bitcoin is the best for Cryptocurrency investment. Goodluck on your investment journey mate.
if you want to talk about crypotcurrencies and/or a sector that involves digital assets and a variety of shitcoins, bitcoin is the leader in that sector, yet it is not just the leader for the mere sake of it being the leader, and if you want to get some kinds of ideas regarding why bitcoin is the leader in that sector is because bitcoin brought something to the table that has not been brought by any of the imitators and/or affinity scams within the shitcoin sector.  It is quite likely that if any of bitcoin's imitators, copy cats, affinity scams want to beat out bitcoin, then they would not need to be merely better than bitcoin, but instead they would need to be in the ballpark of 10x or more better than bitcoin, so how is there going to be competition from various shitcoins unless they are in the ballpark of at least 10x better than bitcoin?  In that sense, we should not be spending time, energy and/or money talking aout them or playing around with them unless we are considering them in light of bitcoin and how they might relate to bitcoin and deserve any attention at all.
Even though you JayJuanGee have put some light in differentiating bitcoin from every other shitcoins, I will love to make some additions to what bitcoin is.

Perhaps, lots of people certainly do not get the facts about bitcoin as a leader in its own world and differentiating it from other cryptocurrencies (shitcoins) seems hard for some people, just as you JayJuanGee have said, that bitcoin is not just a leader for a mere sake of being a leader but it has brought something to the table, some people may not get your point even though its very clear but i will have the stress to say that bitcoin is a paradigm and a paradigm that has shifted our thinking from just a mere circulation of fiat to a digital currency/gold as some call it, that doesn't just keep the value of your assets but also increases its values in a long term.

Bitcoin as a paradigm has brought to the table the opportunity which every other shitcoins has seized to be in existence even though we might not going to be seeing most of them in few years. Having to put bitcoin in the category of all those short term existence coins would not make any sense which is a more reason why we should know the true nature and facts about bitcoin to differentiate it from mere scams that pose to be a coin of value and/or seeking attention for its purpose of scam deceiving some people with an unrealistic point that its an improvement of bitcoin the original, which we all know that bitcoin has no improvement outside it's protocol. It's even more right and/or correct to liken bitcoin to the master piece of cryptography and every shitcoins to be a copy which is not the original and can never be the original than to put bitcoin the the same category with those shitty coins.

I don't really disagree with anything you said - yet at the same time, part of the reason that any shitcoin or any other technology to really contribute in a way to throw bitcoin out of its place has to be 10x better, since bitcoin invented something (or discovered) in such a way that such a thing had not been possible previously, and in that case the paradigm had been shifted by a new thing being possible that had previously not been possible, which is that bitcoin brought forth a system of transferring both information and value at the same time with ways of verifying it in a way that there was no way to copy the value.. and so yes solving the double spend problem in several quite ingenious ways.. and establishing itself as a protocol layer kind of a change in which other systems can build upon it, yet if there were a desire to actually change the protocol, then such change would be required to be 10x better  in order to inspire moving from bitcoin to the new protocol... no shitcoins have shown themselves even close to being able to inspire moving over to them from bitcoin.