something I’ve noticed that kinda makes no sense
people will say bitcoin is “too risky” or “too late”
but then throw money into some random coin they saw on twitter or tiktok without thinking twice
not even hating, I’ve probably done the same at some point
just weird how the safer option feels boring to most people, while the risky stuff feels more attractive
is it just the chance of bigger gains or is it something else
Why do people trust random coins but not Bitcoin?
byu/That-Mission1006 inCryptoMarkets
Posted by That-Mission1006
11 Comments
Why do you trust Bitcoin when you don’t even know who Satoshi is or his real intentions behind the coin?
People like to gamble. You never know when you’re going to hit that jackpot. Most crypto has zero use case beyond speculation and hype.
More risk often comes with more reward, also I think people are looking at projects that generate revenue or provide a service beyond just “store of value”.
I like to think of Reddit as a VERY LOUD minority especially the investors here
They don’t trust them, they’re gambling with them.
It’s not a trust but a greed issue because bitcoin won’t do a x100 anymore so they prefer to gamble on on unknown /new shitcoins and hoping it’s not a scam to make bigger return.
if you look at it long term it is the best option .
but if you want to look for an altcoin to make 2000% . Bicoin will not give you that.
I only trust xmr
A lot of people in crypto follow hype instead of experience. They’ll ignore something established like BTC but trust a random coin trending on Twitter. Listening to experienced voices in the space can really change how you look at risk.
Why and how do you trust Bitcoin in the first place ?
While yes throwing into random coins is obviously a dubious idea do you really expect bitcoin to do much price wise? It will clearly never really be “digital cash” its much too slow, lightning isn’t great and transaction fees are always going to be relatively high especially once the mining rewards from new coins is very low.
As a store of value like gold? Sure I do believe this is where bitcoin will sit and act as digital gold which sometimes does do quite well but in general in the trad-fi world you’re a lot better off investing in some stocks with potential (parallel of alt coins) than holding gold. While keeping some gold mostly as a safe haven.