Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: maddisson on January 04, 2020, 10:51:20 AM
-
Bitcoin or Altcoins: What Should You Invest in?
There has been a lot of talk about Bitcoin and other cryptocurrencies over the last two years or so. The financial innovation of decentralized digital currencies based on blockchain is taking the world by storm. More people are learning about how the current fiat system is hungry for an alternative, which is the cryptocurrency market.
It’s an exciting time in the history of humankind. For the first time ever, we have an asset class that is completely censorship-resistant, offers genuine scarcity, and is non-confiscatable. Such qualities in a monetary system are highly attractive.
Bitcoin delivers all the above and more. However, in the years following its launch, there have been many new tokens seeking to improve on the original design. These altcoins might look tempting from an investment standpoint, and many could truly be innovative for various industries.
Today, we’ll look at both Bitcoin and altcoins from an investment standpoint. Remember, however, this is not to be taken as investment advice and is only to be used as a starting point for your own extensive research.
After much investigations and research i have made about how to earn more profit on cryptocurrency legitimately, I will recommend forex #spam Investment Platform and cloud mining(forex #spam,io) as it has been relatively on for a while now as it was launched mid 2016 but has become the largest Cryptocurrency Investment Platform right now with a volume of over 150 million dollars where you get different ROI’s on your invested cryptocurrency after every 10 days. It supports variety of cryptocurrency like Bitcoin, Ethereum, Bitcoin Cash and Litecoin and other Altcoins.
Why Bitcoin?
There’s no denying the fact that Bitcoin is the most well-known and high-priced digital currency today. It has been on top for all its lifetime. If you want to invest in the potential future of money, you should probably buy Bitcoin then, as it has all the qualities that make money viable. It has a known supply (true scarcity), it is incredibly expensive to make more of it (prohibitively so), you needn’t ask permission from any government or banker to make a transaction, and no government or banker can confiscate your BTC if stored correctly.
Whilst other cryptocurrencies might share some or all these qualities in differing degrees, none is as solid as Bitcoin. It is backed by the largest network of computers which is incredibly expensive to attack.
Even the strongest altcoin networks are nowhere near as robust as Bitcoin. This makes these networks easier to compromise. Additionally, they all have an official spokesman, capable of steering development, and thus being in control of the cryptocurrency future.
Bitcoin has been developed to stand its ground in the face of changes. It sacrifices convenience for security at its base layer. Many who favour altcoins will often claim that Bitcoin is slower than other cryptocurrencies, or more expensive. For now, both of those things are true. However, scaling solutions are already being created by a network of developers who work on the protocol to design an entirely new system of finance.
The coming financial revolution could see all economic activity directed through one of the many layers developed for the protocol. A sound monetary policy is vital for the base layer, however. Those who are wowed by the speedy transfers are overlooking the importance of hard money to replace the fiat options we already have.
Why Altcoins?
There are over 2,000 altcoins in the market, and to be fair, a bunch of them are absolutely useless. However, it would be overly dismissive to suggest that none of them will amount to anything. The problem is that it’s difficult to predict how successful they might be. If Bitcoin will solve its technical issues, will there be any room for other coins to compete in terms of a replacement for fiat currency?
That said, some altcoins have different industries to disrupt. First, you need to decide if the problem supposedly being solved by altcoin is a legitimate concern. Next, it’s important to consider whether that problem is best solved by a blockchain system that uses tokens. The fact of the matter is that blockchain systems require immense computing power, and this comes at a cost to the user. So, sometimes it can be inefficient to use blockchain for specific purposes.
Several altcoins are often competing to solve the same problem. Take decentralized storage, for example. There are several projects with native tokens that seek to allow the sharing of users’ hard drives for a small cost. Which one will win? Probably the one with the best technology. As an investor, are you in a position to judge the subtle nuances between two blockchain systems? If you are, then good for you. But many people must rely on the marketing of each project and the opinions of others to decide if it’s a worthy investment.
High Risk/High Reward
Investing in any cryptocurrency should not be done lightly. We are in a very early stage of this technology and each project faces many challenges to achieve its goal. These challenges are technical (can the developers deliver what they set out to do?), regulatory (will they be allowed to do it?), and related to competition (are others attempting to do the same thing better?).
Above all, if you want to invest in any cryptocurrency, you should never do so with more than you can afford to lose and only after you have done extensive research into all aspects of your investment. The less research you conduct, the higher the risk of your investment will be.
-
I focused on bitcoin and i buy every dip because i believe that it will last long compared to other altcoins. When I invest in altcoins, i do some research about the background of the team behind it and also about the technology it brings into the masses. Altcoins are so risky nowadays so be careful when you invest in altcoins.
-
There are many reasons why someone quickly chooses to invest in altcoin rather than Bitcoin because the price is too expensive and in the end, they choose to invest in altcoin to get profits. Research must be done but still, we must have experience.
By the way, I saw the same thread in another forum.
You must provide information from the source that you are posting
-
Bitcoin or Altcoin I think is the same, if the coins can provide benefits then I will invest. But in broad outline for investment I prefer large coins that have been registered at Coinmarketcap, that I do that aims to reduce the risk of losing my money.
-
Altcoins exist in attempt to surpass bitcoin's legacy, none of them were as successful as bitcoin as of the moment. Anyway, whatever currency or item of high value there is, people will store them or hodl to gain money from them in the long run, so it is to no surprise bitcoin is being kept as of the moment. What we could do as of now is to support bitcoin and successful altcoins to create a more diverse environment in the cryptoworld.
-
For now I think trading between BTC x FIAT is my main goal because BTC is more important than altcoins.
I trade BTC every day at INDODAX and I feel good dreams in profit every day and this doesn't make me worry if BTC goes deeper or goes up!
-
I focused on bitcoin and i buy every dip because i believe that it will last long compared to other altcoins. When I invest in altcoins, i do some research about the background of the team behind it and also about the technology it brings into the masses. Altcoins are so risky nowadays so be careful when you invest in altcoins.
Investing mainly in bitcoin also has its risks. It should always be remembered that the situation in the cryptocurrency market can dramatically change at any moment. Bitcoin's price dominance cannot be long. You always need to invest in new technologies and new useful solutions, and not in the name that is now popular.
-
I think investing in Bitcoin is more reliable, because this is a famous coin. And investing in altkyons is a big risk, but again, you can make big profits if you choose the right altcoin. Therefore, this is a very complicated matter.
-
Bitcoin is the main target to invest in 2020/2021. It has a big potential to increase this year or next year. So, it doesn't make sense if you ignore it. For me, you must buy Bitcoin and if there is more capital, you can consider buying altcoins. But it is better to buy top altcoins only.
-
Indeed Bitcoin is most powerful coin so this is the good investment for long-term as well many best and reliable altcoins in cryptomarket so if definitely the investments we can buy many coins I think that's a good idea.
-
There is no doubt that Bitcoin should be the highest allocation on your portfolio, it has a lesser risk compared to altcoins. But as for me, I always gamble and hold some altcoins expecting to get some huge returns on a small amount of time. But if you are looking for long term then definitely Bitcoin would be the answer to that.
-
Now it is best to invest in bitcoin as soon as possible, because the price of bitcoin is constantly growing due to bitcoin halving and you need to make investments in bitcoin faster, and after bitcoin halving you can already start investing in altcoins.
-
Bitcoin will be a safe choice. However, their prices are too high. Some altcoins are well worth the investment
-
I focused on bitcoin and i buy every dip because i believe that it will last long compared to other altcoins. When I invest in altcoins, i do some research about the background of the team behind it and also about the technology it brings into the masses. Altcoins are so risky nowadays so be careful when you invest in altcoins.
Investing mainly in bitcoin also has its risks. It should always be remembered that the situation in the cryptocurrency market can dramatically change at any moment. Bitcoin's price dominance cannot be long. You always need to invest in new technologies and new useful solutions, and not in the name that is now popular.
Yes, while Bitcoin remains a reliable means of investing, however, you always need to remember that cryptocurrency has very high price volatility. Moreover, the price of bitcoin is very high compared to the prices of the rest of the cryptocurrency. This creates additional risks when working with bitcoin.
-
Bitcoin is the far better investment for 2020. Not only is it seen as a safe haven asset, but it’s also the original cryptocurrency. Altcoins can make you more money than Bitcoin, it’s true, it’s just a lot riskier, and you could lose everything in an instant.
-
Better to buy more bitcoin now while it is drop to increase your holding. Once bitcoin pump you win your goal to profit. You must wait until such time of bitcoin to recover again hope before the end of this year.
-
An Italian bank of all businesses thinks (https://deposit-withdraw.com/opera-browser-allows-for-crypto-purchasing-in-the-us/) now is the best time to do so, but I am not so sure. Nothing is certain in these times.
-
No doubt bitcoin is the strongest, so it is suitable to be used as an investment, and certainly can provide good returns.
-
Why don't you try investing in altcoin and bitcoin together? for example the portion of bitcoin is more and the rest you use on altcoin like ethereum, ripple or altcoin which gives a lot of good news now
-
Why don't you try investing in altcoin and bitcoin together? for example the portion of bitcoin is more and the rest you use on altcoin like ethereum, ripple or altcoin which gives a lot of good news now
Bitcoin should not be too carried away. Now it is popular and in great demand among cryptocurrencies. However, the situation can also change rapidly. You need to be prepared to quickly switch to other cryptocurrencies. Whoever does not do this on time risks serious losses in the future. Many altcoins are now far ahead of bitcoin in their development. No matter how good we feel about bitcoin, the cryptocurrency market will dictate its own rules and if bitcoin does not improve, it will lose its position.
-
I think the best choice is by investing in both Bitcoin and altcoins. But for altcoins, you need to be more selective to choose the coins/tokens. There are many coins/tokens having bad quality. So, you need to have good analysis. For Bitcoin, it is the best choice, so don't worry to buy it.
-
Bitcoin is the far better investment for 2020. Not only is it seen as a safe haven asset, but it’s also the original cryptocurrency. Altcoins can make you more money than Bitcoin, it’s true, it’s just a lot riskier, and you could lose everything in an instant.
bitcoin and altcoin are both at risk. it's just a different risk, higher risk in altcoin than in bitcoin
-
bitcoin and altcoin are digital currencies that have high selling points. I will choose both for investment, especially bitcoin. then some of the top altcoins in the market.
-
bitcoin and altcoin are digital currencies that have high selling points.
What do you mean by "selling points"?
Bitcoin is indeed having the highest price among others. There is no altcoins having the same price or almost the same rate as Bitcoin. But it is no problem, we can invest in both Bitcoin and altcoins even if that coins are different.
-
bitcoin and altcoin are digital currencies that have high selling points. I will choose both for investment, especially bitcoin. then some of the top altcoins in the market.
Yes you are right. Better to choose Bitcoin, it is a more reliable investment. If you choose the wrong altcoin, you can incur big losses. And if you are lucky and you choose the right altcoin, you can get a good profit.
-
So far, Bitcoin is really a profitable investment for the next few years. However, what will happen next is difficult to say. Cryptocurrency is developing rapidly and the profitability of investing in it is also changing. Bitcoin in this regard also cannot be eternal. As in every market, we need to constantly monitor its new trends.