It is never right to invest in crypto currency.
You don't have to use the word cryptocurrency to give people an understanding if you don't recommend other coins besides Bitcoin for long-term investment.
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 didn't include a link to the video, so newbies won't get totally confused while watching it. But if requested, I might.Sometimes it is difficult to determine if hosts of those kinds of shows are convoluting terms and misleading people on purpose or if they really are that uneducated on the topic, even while they are acting as if they are knowledgable on the topic. I have heard some pretty smart people unable to distinguish between bitcoin and crypto, and even though they are smart they are also in a kind of stubborn zone to be purposefully choosing to just lump them all together as if they were the same thing.... They may even proclaim that bitcoin is a kind of leader to all of the rest, which is not completely wrong, even though it is also misleading in its context and sentiment.. which is also linked to not really understanding what bitcoin is to the extent that their ignorance might be accidental rather than on purpose or malicious.