Ten years later, right? most of the current generations can't wait so that long because they're FOMO and want to achieve financial freedom before 30 years old, that's why they take risk to gamble their money in shitcoins.

Also not all people want to learn about Bitcoin, if they're still hold their coins in CEX and prefer to stake their coins rather than hold in their non custodial wallet, what we can expect from them?

They are investing in altcoins based on the perception for them. Bitcoin is good but not everyone will invest in it and use it. And if anyone invest in altcoins and do not invest in Bitcoin there means they don't understand the value of Bitcoin. And as you said Korea is one of the country that have the highest awareness in Bitcoin and they invest in dogecoin and other coins more than Bitcoin then they don't understand Bitcoin and they are the people promoting dogecoin and others. And really $50,000 is very big amount of money that some civil servants will not see through out their service years. There is a very big different among them. Even between or among the altcoins there is is a different. Like the ones you mentioned, dogecoin is more valuable than the other.

I think that, above all, one should respect other people's decisions to invest their money in what they want, as long as such investments are not illegal and do not contribute to endangering other people. If some people (and even the majority) think that investing in something other than Bitcoin is more profitable for them (and that is the main reason for their investment), I don't see why they would be seen as someone who is doing the wrong thing.

Theoretically, if you invest in BTC, it is realistic to expect that you will earn x5 or in the best case x10 in the next 2-5 years, and some altcoin can result in much more than that in the same period. Of course, there is always a risk that things will go downhill, whether it is Bitcoin or even more so with altcoins. People simply like to gamble in a way that they invest a little and get a lot, and that is exactly what the owners of these altcoins promise them.


Is that your opinion or is there any research to back it up? It's kind of hard for me to believe that most people don't know the difference, but I guess there is some truth in that, because a lot of people have a very wrong perception of what Bitcoin is.

It's not that I'm an expert on South Korea, but I watched a documentary a few years ago and it seems to me that it's the only country where, in addition to knowledge, young people must also have a certain physical predisposition to get a job, which means that many go for medical procedures to look more acceptable to the employer.

Well, I guess in the end, we all are always entitled to what we individually believe in, if investors in Korea are not interested in investing in bitcoin, it's probably because they feel that bitcoin have become "maybe" too expensive, and they feel that some of this altcoin can still perform "maybe" even much more better than bitcoin.
And like what Franky1 said, which I believe to be true, there are several altcoins that do x1000 and even more in a day, something impossible for bitcoin at this stage, but the truth remains that, investing in bitcoin pays better in the long run, for most of this altcoins will die before or after  the next circle.

I'm curious to know what your "guess" is based on because you are too specific about the altcoins and the amount of investment! Generally speaking it is hard to know these things unless you run a centralized exchange that people visit so that you can have a solid statistics and CEXes don't release such statistic for the public to know these things.

In any case, another possibility (assuming your stats are correct) is that you are looking at "traders" not "investors". When it comes to trading, altcoins are better than bitcoin although not the altcoins you listed here but altcoins that are getting pumped in that particular day so that you can buy them during the pump and sell them before their dump begins to make a decent profit in a short time.
Of course a lot of people trade using their bitcoins (not fiat) so that they can make profit on the amount of bitcoin they have. So your concern about people not having bitcoin is not correct in this scenario even though they are seemingly trading altcoins only.

Maybe that's just his assumption, while he doesn't know the actual data why say so most South Koreans are more altcoins than bitcoins, so I'm not entirely sure what the OP said.

Actually it is up to each individual whether they want to invest in altcoins which we consider as gambling or bitcoin, everyone has a different view including looking at the crypto market, maybe some think this is gambling so they invest in altcoins and expect quick profits in a short time, because altcoins are pump and dump.

When I read the post, I was wondering how representative it is. Is it just the op's personal experience and understanding of the situation based on observations, or does it reflect the South Korean market overall? To that end, I found an interesting article that describes the Korean crypto market. It's clear that it's likely to be one of the biggest markets globally, and the article does mention a particular interest of South Koreans in altcoins.
I do agree with the sentiment that it's better to buy BTC than altcoins. It's just less risky and can pay off significantly in the long run, especially considering the investment amount that the op is mentioning because it can buy a whole Bitcoin and then some.

You just gave us a glimpse of the answer to your doubts on your comment, if the citizens of your country are not buying as much bitcoin despite the potential it has to grow during the next decade then this tell us they are not really thinking about the next decade, what they want is to obtain profits as soon as they can, and in order to reach that goal altcoins seem to them as the best option, and some of those people will in fact realize their goals, but I expect the majority of them to fail and I think they would have obtained better results by taking a long term approach and invest in bitcoin.

I can only speculate as to why the reason why South Korea is more into altcoins, perhaps it was due to the negative connotations about BTC? Or maybe the population think that altcoin is a get rich quick scheme that's why they are willing to take that risk into it. As compare to Bitcoin, wherein it's a long term investment and it's not like the magic internet money that others might have perceived, including Koreans.

However, if you are part of those majority, then so be it. Just continue with your BTC investment, nothing is going to question you with that. And if you become a crypto millionaire in the next bull run or just save enough then that is your reward for going against the norm in your country as far as crypto investments goes.

that is the good thing in this market. you can mind your own business and as the market sits, it is borderless. so no matter where you are on this earth, you are free to choose what you want to do when it comes to crypto.
also, the OP didn't mention if he is in south or north? you can't blame some people to have different approach when you say you are in the north. the first thing that we usually associate them is kim jong-un.