BTC Only is the only right way.
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2Mon
@stefan_21 may well be, but that is explicitly not the point here.
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@Krush82 I know. Sooner or later, when you've burned your fingers a few times on altcoins, you realize that Bitcoin is the innovation and that the others are just trying to enrich themselves on the back of Bitcoin with aggressive marketing for their own shitcoin.
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1Mon
@stefan_21 then you've probably always invested in the wrong coins. Probably iota, ada, xrp, Luna or what?
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@Maxi385i I had XRP and Ada, for example, yes😂
I'm not saying that you can't make big profits with altcoins. But it's always the same: hype is generated and some great use case is suggested that could be solved with "blockchain technology". However, a blockchain is always inefficient and only makes sense in conjunction with proof of work because the blockchain is trustless. All other use cases, which write external information to a blockchain anyway and are dependent on central companies anyway, could be handled much more efficiently with central databases. However, these companies don't do this because they wouldn't be able to generate coins/tokens from which they could retain the majority themselves and then, of course, earn massive amounts of money.
I'm not saying that you can't make big profits with altcoins. But it's always the same: hype is generated and some great use case is suggested that could be solved with "blockchain technology". However, a blockchain is always inefficient and only makes sense in conjunction with proof of work because the blockchain is trustless. All other use cases, which write external information to a blockchain anyway and are dependent on central companies anyway, could be handled much more efficiently with central databases. However, these companies don't do this because they wouldn't be able to generate coins/tokens from which they could retain the majority themselves and then, of course, earn massive amounts of money.
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