Quote from: Scarlett_23 on Today at 04:57:24 AM

Quote from: temple on October 22, 2024, 11:41:21 PM

If there are still people falling for fancy white papers these days, then I have to say I have no sympathy for them whatsoever. I understand that back in the days when all these ERC20 tokens came around, a lot of people were confused and the unreal price increases did the rest. Some people running these ICOs got arrested because raising that money was illegal in the first place, and I can't tell whether there is one single coin with a huge white paper out there that has made its way. Ethereum maybe counted as one, but it has its own set of problems and people should do their research on how POS leads to more and more centralization as those with more coins always outcompete those with less coins in block production, making their holdings grow at a faster rate.

In BTC you don't have this problem. It doesn't matter whether you have 1 BTC or 100 BTC, it doesn't change what say someone has in the network and miners are those with significant skin in the game, making sure they act in the interest of the network as their well being is directly dependent on the well being of the network and they had upfront investments which they want to recoup.

But it's good to know, at least that is how I noticed it, that the talk about those alt coins is going further and further down. I have been discussing those coins years ago and the relative number of people discussing these fancy white papers has become less.

Because one of the biggest differences between BTC and those alt coins is that "Buy the DIP, and HODL!" worked for BTC, but not for the vast majority of other coins. People have been catching the falling knife and hurt themselves. BTC always bounced back to its ATH and is close to it right now. Only people who traded back and forth can literally have realized substantial losses. Everyone else could at worst be a few % down right now.

Bitcoin alone holds itself in a strong position in the long term. Altcoins can't hold their position in that way for long. Bitcoin can return to its maximum ATH at any time. People often fall into a state of confusion during ICO. They are confused with attractive white papers. People buy these coins hoping to make more profit and face losses. They steal huge amount of money by tricking common people. Bitcoin Pow is fair and realistic where miners do what is best for the network. Finally let me say that Bitcoin is a completely decentralized institution and completely different and risk free from other coins.

You are actually correct, Bitcoin is a very volatile asset that is to say that it's variation is unimaginable or let me say unpredictable but however, it has sequence it moves and Alt can not or should not be compared with Bitcoin because most or if not all of them depend on Bitcoin. Lastly, I believe Bitcoin being risk free have been discussed about, the fact that Bitcoin has a great potential doesn't mean it is risk free or it's certain, the fact that I'm investing doesn't mean everything is certain or guarantee but one thing I know for sure is that Bitcoin is wey better than any other coin as speak and i believe I will make out something big in years coming.