Post
Topic
Board Nigeria (Naija)
Re: Balancing Financial security and Bitcoin Accumulation
by
Nightwatchmare
on 01/08/2025, 16:01:24 UTC
Alot of people fail to realize that bitcoin is also a cryptocurrency, they seem to think it's different from cryptocurrency, bitcoin is basically the first cryptocurrency and every other altcoin that csme after were attempts to make a different version of it, some were even made to surpass bitcoin but they obviously failed in that endeavour as bitcon is still the biggest cryptocurrency out there, what has really set bitcoin aside from other cryptocurrency is it decentralised nature with no bank or government having any influence over it making it also the most secure cryptocurrency so anyone investing in bitcoin is also investing in cryptocurrency, to diversify would be to invest in other altcoins as well while already investing in bitcoin
Please you don’t have to mislead new investors here that Bitcoin is also cryptocurrency , in as much as as bitcoin is also a type of cryptocurrency, it can never be compared. You should understand that Cryptocurrency is more like a general term that enclose many digital currencies, like litecoin, Ripples etc which are called shitcoins or altcoin and most of the coins are correlated with bitcoin prices movement. Also understand that bitcoin being focusing on secure, and decentralized currency, that’s how other coin have their own features, and most of it out there are not to be trusted. So be more specific please, if you’re talking about Bitcoin.

I think you're the one misleading yourself or confusing yourself rather. Yes bitcoin is also a cryptocurrency, if it's not, what then would you call it? I agree that bitcoin is different from other cryptocurrencies, it is the best cryptocurrency for investment since volatility doesn't hinders investors from buying and hodling it for longer period but bitcoin is still classified under the term cryptocurrency and you're the one who's wrong.
 Cryptocurrencies are digital currencies that can be operated online through a computer device, while bitcoin is a digital currency that is decentralized and was created to act as an alternative to paper money but operates on blockchain technology, it is more outstanding than others cause it's the first decentralized cryptocurrency and because it has those attributes you mentioned doesn't mean that it shouldn't be classified as cryptocurrency, take note.
It would be better if you refer to bitcoin as bitcoin because if you refer to bitcoin as cryptocurrency, you might mislead newbies to believe bitcoin is the same as altcoins or shitcoins and they might invest their money into altcoins or shitcoins, thinking they are investing in bitcoin. So for newbies to avoid such a mistake in their early stage, always refer to bitcoin as bitcoin so that they will know bitcoin is different from cryptocurrency. Don't be deceived; Bitcoin is absolutely different from cryptocurrency, and there's nothing like Bitcoin. And even though Bitcoin isn't the first decentralised digital asset or currency, it would still outperform cryptocurrencies because Bitcoin allows you to send money to anyone in the world without trusting a middleman.