While Bitcoin is the Worlds most successful cryptocurrency, many newcomers into this space and the mainstream media talk so much about “crypto” but do you know what they actually mean? As mentioned above Bitcoin is the Worlds most successful and powerful cryptocurrency there’s no denying that. But when people mention “Crypto” they don’t actually mean bitcoin, they actually mean “Altcoins”. The problem with the word “crypto” these days is that it promotes every other shitcoin out there and it doesn’t really promote bitcoin in any way shape or form. Many newcomers in the space are mislead into “diversification” and into thinking that bitcoin is boring, they don’t realize that without the success of bitcoin most of their favorite shitcoins wouldn’t exist. Here are the facts Bitcoin was created, a few years later thanks to its success Charlie Lee aka Satoshi Lite created Litecoin, its success led to Dogecoin, Clams, XCoin re-branded as Darkcoin and now re-branded as Dash, and then in 2014-2016 Etherem based on Ethereum, everyother ERC-20 Token we know today and the future ones to come.
The point is that they don’t realize that if Bitcoin fails they all go down the drain. Diversification in this markets is futile, every week we have new top 10-20 coins but the only one that has remained at the top all this time is good ol’ BTC. It’s pointless to try and get the top 10 coins because they all change except for bitcoin. I could buy something like Dash only to realize it’s lost more than 50% of its value in the last 8 months therefore losing me money not only in fiat but losing me bitcoin in the process. Yes, bitcoin will gain and lose value over time but it is much more stable, innovative, and strong than anything else in this space.