Post
Topic
Board Nigeria (Naija)
Re: Balancing Financial security and Bitcoin Accumulation
by
PremiumcryptoHub
on 07/08/2025, 18:13:37 UTC
We all like to call Bitcoin Bitcoin. If a person calls Bitcoin a cryptocurrency, it will not be right at all. Because we mean all the currencies in the market by cryptocurrency. If you do not say a specific one, many new people will be confused. For example, there are many fraudulent currencies in the market in which many people have invested and lost all their money. If a new person says that I have lost all my money by investing in cryptocurrency, then that new person will definitely think that cryptocurrency is a fraud. But if the person who said that I have lost all my money had told that new person that I have invested in xxxx coin and lost all my money. Then a specific currency would have been blamed. So when we call Bitcoin a cryptocurrency, all the fraudulent coins are compared with it and then many people think that Bitcoin is a fraudulent currency.
It is true that Bitcoin is not like all other cryptocurrencies because to my knowledge the person who created Bitcoin has never sold Bitcoin but on the other hand, all the cryptocurrencies that exist have been sold by their owners in one way or another. You are right that there are many fake currencies in the market in which many people expect returns by investing but never get the expected results but if they finally do the slightest analysis, maybe they can prove them to be inferior to Bitcoin. In my opinion, we need to maintain a nuanced understanding between Bitcoin and other digital currencies, even if one wants to influence others through Bitcoin, one has to be a seeker of knowledge because there is no similarity between Bitcoin and fraudulent currencies.