1. This website uses cookies to improve service and provide a tailored user experience. By using this site, you agree to this use. See our Cookie Policy.
    Dismiss Notice

Bitcoin and altcoin: Which one will make you more money by 2020?

Discussion in 'CryptoCurrency' started by jane madison, Feb 14, 2020.

  1. jane madison

    jane madison Newbie

    Joined:
    Oct 4, 2019
    Messages:
    14
    Likes Received:
    1
    Gender:
    Female
    Buy Bitcoin or try your luck with altcoin?

    Market sentiment has now turned positive and traders feel more optimistic than ever. Will Bitcoin or altcoin bring greater profits?

    Bitcoin is the most decentralized project, with the most users and the best computer science mindset to accelerate the process of network development. Besides, it also has the largest network effect, the best supporting infrastructure and the most favorable trade-offs for autonomy. Perhaps the most important for traders is the strongest liquidity and the most secure network, with the highest POW hash rate to validate transactions.

    On the other hand, altcoins are often volatile and risk a lot higher. They are not secure, do not have a lot of liquidity and can often be attacked because of a lower hash rate or no guarantee of consensus as many other PoS coins. Some altcoins have talented developers but others are not. Each altcoin should be reviewed on a case-by-case basis and investors should research carefully before making a decision.

    Large-cap altcoins like Bitcoin Cash or Ethereum actually have quite a large infrastructure to implement networks. For example, DeFi almost invests billions of dollars in ETH. Every project built on an altcoin platform usually has a tradeoff.

    Altcoin is highly volatile

    During the bull run of 2017, some traders who became millionaires from a micro altcoin suddenly received a lot of attention because of new partnerships or features. Even so, most altcoins have lost more than 90% of their value in the bear market and some projects have died, leaving investors holding worthless tokens in their hands.

    Bitcoin has dropped significantly and lost more than 80% of its price on multiple occasions, but has also risen from $ 0.06 to an all-time high of $ 19,891, up 33,151,566.66%. As such, it can be seen as extremely volatile, but due to limited supply and consensus rules, the investment in Bitcoin is very safe, with almost unlimited growth potential.

    Meanwhile, altcoin is considered as penny stock. You might recognize next-generation Google, Amazon or Tesla, but it can't. Each altcoin is very different and also very different from Bitcoin.

    If you plan to invest in alt, please do your own research as well as note that almost every altcoin project is unclear and sensational marketing. Altcoins and the companies behind the project are also vulnerable to regulation, but Bitcoin is not.

    Bitcoin is a much better investment for 2020. Not only is it considered a safe-haven asset but also a native cryptocurrency, constantly leading the blockchain development through the BIP process. Altcoins can really help you make more money than Bitcoin but it is a lot more risky and you can lose everything right away.
     
  2. B1TCS

    B1TCS Junior Member

    Joined:
    Jan 30, 2018
    Messages:
    136
    Likes Received:
    51
    Gender:
    Male
    I'm only invested in BTC and ETH, I don't like to gamble on ___coins
     
  3. VSYNC

    VSYNC Regular Member

    Joined:
    Nov 20, 2019
    Messages:
    253
    Likes Received:
    186
    Gender:
    Male
    Occupation:
    Invisible threads are the strongest ties~Nietzsche
    Location:
    How did it get so late so soon?~Dr. Seuss
    Home Page:
    Either you gamble on Cryptocurrency or you trade it, which asset you're buying and selling is irrelevant - it's your mentality that decides if you're gambling.
     
  4. Mr Positive

    Mr Positive Jr. VIP Jr. VIP

    Joined:
    Mar 30, 2018
    Messages:
    3,560
    Likes Received:
    1,459
    Gender:
    Male
    Occupation:
    If you need an extensive review I’m your guy.
    Location:
    I Post Reviews under 12 Hours
    Home Page:
    Bitcoins though you can try Eth, Eos also
     
  5. EAZYJ

    EAZYJ Newbie

    Joined:
    Feb 12, 2017
    Messages:
    49
    Likes Received:
    6
    Not bad having a few small bags of altcoins (research the fundamentals). In 2017, we saw 1000%+ gains on random altcoins.
     
  6. jane madison

    jane madison Newbie

    Joined:
    Oct 4, 2019
    Messages:
    14
    Likes Received:
    1
    Gender:
    Female
    As you think, whether investing in BTC or ETH is gambling. The market is always changing every minute. What I want to emphasize here is the strong mentality and available experience. altcoin but high risk, but the profit is huge.
     
  7. VSYNC

    VSYNC Regular Member

    Joined:
    Nov 20, 2019
    Messages:
    253
    Likes Received:
    186
    Gender:
    Male
    Occupation:
    Invisible threads are the strongest ties~Nietzsche
    Location:
    How did it get so late so soon?~Dr. Seuss
    Home Page:
    ICO boom was a unique period of time. Many alts outperform blue chip cryptos on ROIs during bull runs, but 1000%+ gains was fuelled by many other factors unique to that point in time.
     
  8. jane madison

    jane madison Newbie

    Joined:
    Oct 4, 2019
    Messages:
    14
    Likes Received:
    1
    Gender:
    Female
    When you are in a safe area, you will feel more secure. However, in this cryptocurrency market, BTC is not necessarily safe
     
  9. blue_knight

    blue_knight Registered Member

    Joined:
    Jan 19, 2020
    Messages:
    84
    Likes Received:
    14
    Gender:
    Male
    Location:
    US
    Home Page:
    Any crypto investment is a gamble. Don't spend on it more than you afford to loose.
    Bitcoin is still a crypto-currency, the usual people like us won't be able to see future moves of the coin against FIAT. You said it has the network effect, MySpace had the same network effect, or Yahoo or... you get me point. Also, keep in mind that Bitmain have the most hashrate as pool operator; does it still looks like BTC is decentralized? The only thing that keeps Bitmain attacking the BTC network is the revenues from mining, but the halving is comming...
    I truly believe that crypto is here to stay but with these price fluctuations, we won't get mass adoption soon.
    Nobody knows what will happen next in the crypto space, we just imagine and hope for the best.
    I personally chose BTC and Monero; BTC, from obviously reasons, and Monero because it has everything that BTC lacks and will never have.
    If BTC is falling, every alt will follow the BTC and fall even harder. If BTC is rising, every alt will follow.
     
  10. jasonforrest

    jasonforrest Registered Member

    Joined:
    Jun 30, 2014
    Messages:
    57
    Likes Received:
    7
    Occupation:
    Marketing
    Location:
    USA
    Home Page:
    Bitcoin BTC only.