Hi Bitcoin enthusiasts!
I recently watched a video
Bitcoin Maxi vs Altcoins
on YouTube and it inspired me to write this rather controversial post.Disclaimer: Everything I wrote here is my subjective opinion and not everyone has to agree with it.
How do I perceive Bitcoin?
In my opinion, Bitcoin is something like gold but digital. It is a great thing to protect your funds from inflation, for example. However, physical gold is more resistant to various things e.g. global nuklerana war because it can survive deep in the ground unlike servers/computers which are Nodes. However, after such a war we won't need a means of exchanging value since virtually everyone on Earth will die. However, this is not the topic of this postđ
. Bitcoin also like gold can lose value and buying it involves investment risk.
Example:
You bought BTC during its ATH and then the market went into a bear market. The value then its fiat value will fall. Of course, long term you will gain because bitcoin surpasses its ATH.
Bitcoin like gold is not something that will make you a millionaire when you don't own millions. If you owned a lot of Bitcoin at the time when it was just created you would indeed be a billionaire today. Currently, Bitcoin makes too small a move during its cycles to make a million from a few thousand.
How do I perceive Altcoins?
In my opinion, Altcoins are something like stocks, securities, etc. You can invest in it and by taking a lot of investment risk you can make money. Thanks to Altcoins you can make a million from thousands.
Example:
You bought Pepe for a few thousand. At its peak you have a million. However, if you didn't sell it in time you lost. Of course, everything depends on what price you bought him for so you can be a loss, come out at zero or gain something.
Pepe is just an example. On the Altcoin market it's hard to find any shitcoin like Pepe that will shoot up in price. Altcoin market is not very predictable and anything can happen on it, especially if you invest in newly created shitcoins.
Do I agree with Bitcoin Maxi's arguments?
Yes, I agree with most of them. I also believe that bitcoin is a great alternative to cash, it is anti-inflationary, it is safe, etc.
Why I'm a "Shitcoiner"?
I personally started learning about Bitcoin and other Altcoins through collecting. To this day, I am a colllector. I have never bought Bitcoin or Altcoins with my money. I like being a collector. Why? Because I can use my free time, which I have no other way to spend, to collect something that may someday be worth much more. Of course, I know that it may not be worth anything in the future, but in fact I do not lose anything and can gain. I am also a fan of Bitcoin and love it! I don't limit myself only to Altcoins because most of them have no future and contribute nothing to our lives. They can only serve as a risky investment that may or may not multiply our money. There are interesting coins such as Monero but it is not something I would keep my money in. I would only use it if I wanted to hide my transactions.
In closing
In closing, I would like to add again that what I write here is my subjective opinion and not everyone has to agree with it. I also answered in this post the question that was often asked of me, namely
Why are you a Shitcoiner?
If you have a question or would like to express your opinion on Bitcoin vs Altcoins then you can do so in the comments.