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Bitcoin
$42,299.85 -0.40%
BTC · 3w

Anyone else have the same journey as me with bitcoin? Leaving bitcoin thinking alts are "superior technology", then coming back to bitcoin?

Let me preface this by saying I tell new people, "If you want to make money the only strategy that has held up is buying and holding bitcoin for 4 years." and, "The only coin that has managed to stay at the top of the charts is Bitcoin. When bitcoin drops 5%, altcoins drop anywhere from 10-50%. Just buy bitcoin and hold it a long time. Use money you don't need to buy it, and you will be pleasantly surprised a few years from today." However, I too also fell in to the "superior technology fallacy" that a lot of altcoins promised but either A) failed to deliver on or B) delivered with an unacceptable level of centralization. I went with altcoins over the years thinking, "It's just a matter of time until they surpass bitcoin." But that never happened for various reasons. The one thing that bothers me now is the amount of new people we have saying dumb shit with regards to altcoins being "superior" to bitcoin without any well-formulated research on the topic at hand - and yes, that includes people like Elon Musk influencing people to buy new shitcoins or shitcoins that have higher inflation than what is considered a "healthy" amount of inflation in a growing economy. EDIT: Something that cemented my position with 90% btc is when I tried out the lightning network on Phoenix wallet in 2020. I just thought, "Shit, ok this works now and it's only going to get better from here on out."
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