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even if value is flowing in and out of shitcoins from bitcoin and causing fluctuations in the crypto market cap... but in the end, who gives any shits about the crypto market cap unless you somehow believe that ethereum and some of the various other shitcoins have any value apart from the fact that they are sucking off the teets of bitcoin... or should we call it the "apron effect."
I agree that all the value flowing into Ethereum or Alt-coins is because of Bitcoin. That does not mean that anybody in this space, especially the newbies who have more time than money, can afford to ignore the products that some of these projects are genuinely trying to make profitable. I follow quite a few projects in the Alt-space not because I just want insane returns but because some of them have legitimate teams putting effort to change the way we interact with finance.
Sure it is possible that there is some legitimacy, but seems best to presume that they are a bunch of scams and a waste of time, even if you believe that you can get into them without getting screwed by some central team trying to print money and exit scam on you.
That will certainly have some value in the long term. But its not for the faint of heart and the most that a normal person can expect is to benefit from the knowledge or have minor return commensurate to effort put.
Surely best to avoid that crap.. but sure, if you want to study the space and gamble, that is on you.
The insane returns typically go to the person who has the most money to throw around, which again are the BTC millionaires from an earlier era.
That comment comes off as bitter... as if early investors into bitcoin did not deserve whatever outrageously high returns that they received... And, yeah maybe some of the dumb fucks are investing into shit projects, but not necessarily so.. Of course, some money comes from bitcoiners and other money comes from people they dupe into believing that there is some value in whatever convoluted ponzi scheme money printing machine that they are promoting as if it were to add any value beyond smoke and screens.
except maybe attempting to take advantage of the price swings and surely wherever someone might be in his/her bitcoin accumulation phase might affect the approach to how to attempt to sufficiently stack up on bitcoins or to maintain such stack.,. if the stacking up has reached decent allocations from a personal perspective.
Rightly said. The predictions and models are for professional traders. For most common people, not having a stake in bitcoin is an opportunity cost. Yet, as a small guy, you have to accept that the time when BTC turned small guys into big guys is pretty much over now. What you should focus on is to manage your crypto portfolio with responsibility.
The corporatization of BTC and institutional investors coming in is also one of the reasons I don't believe in actively dissing Alt-coins anymore.
We can agree to disagree including maybe recognizing that this is a bitcoin thread anyhow.. so why give any benefit of the doubt to shitcoins when shitcoins are off topic in this thread... And, sure you can do what you like in terms of choosing
not to actively diss shitcoins. I believe that on a general note they deserved to be dissed whenever they are brought up.,. so the presumption would be to diss them rather than to give them any sliver of a benefit of a doubt.. unless they happen to deserve such benefit of the doubt and still you better remain skeptical with even the seemingly "good" ones.
And, furthermore I would not recommend buying on dip for any shitcoins, because bitcoin is the ONLY one that such principle applies in terms of long term fundamentals and providing actual value rather than some bullshit that you have to constantly monitor and attempt to figure out how and when to time the getting out aspect of any amount of value that you might end up putting into such shit coins.. hopefully none is the best presumptive starting point for shitcoins.
