I was supposed to create a separate thread about this, but due to my busy schedule, I thought it would be best by just sharing it on this thread only. Now, the idea of whether of someone investing in Bitcoin or cryptocurrency wasn't actually something to be bothered about until I saw a reason to be bothered about it.
Few weeks back, while watching a new episode of a financial related show on YouTube, the word "Cryptocurrency" was used in describing every digital currency that exist including Bitcoin. I didn't have any issue with that, until the show host described cryptocurrency with few statements like:
1. It's basically a form of gambling
2. It's not an investment, it's a speculation
3. A possible projected amount is zero, etc.
From the points made, you already see the problem on ground.
Using cryptocurrency to generalized altcoin and Bitcoin is already creating some misleading ideology towards Bitcoin. I agree to the fact that shitcoins fulfills some of those criteria/points made, but Bitcoin literally has nothing to do with it. The interesting part of it is that some users in the comment section didn't agree to what was said, which still proves that few people understands this thing.
So, you are definitely right by saying that cryptocurrency is a general term(which it is), but the truth is, that term has been used to generalized everything both in a positive and negative way.
I think you've done justice to this already by explaining things extensive on this particular discussion, sometimes it marvels me when some people cant just differentiate things the way they ought to be, our discussion here is centered on the possible and easy way of buying Bitcoin and holding it for a long-term, I think some folks here don't understand that when using the word crypto it can only be referred to those shitty things out there not Bitcoin and beside anyone that understand this space we are can never advise an investor to invest in those shitty things that got no trust or long life spam, I think is high time should understand that Bitcoin is a serious thing that should not be in anyway attach to those coins that got nothing to offer, sometimes I thing people generalize Bitcoin with other crypto to create an unnecessary argument even when they know that it shouldn't be that way, for me is always Bitcoin and nothing more.