Through the years people kept arguing if BTC is the best out of all cryptos or not. Some people are BTC maxis, the others like altcoins more. Most of the time both parties are right and tell good facts.
There are good reasons to own Bitcoin (in my opinion, you should at least own some Bitcoin, but if you don't want to, I understand, and I don't care), and there are other reasons that people look at and don't want to own any Bitcoin.
It is all the matter of perspective, and what people want:
Why you should own BTC:
- Because Bitcoin has a first mover advantage
- Take a look at top10 coins in 2017. Take a look at top 10 coins now. How many of them are still there? I am sure in one thing, BTC is there and will be there after this bear market. How many of them outperformed BTC? Not even one. The vast majority of altcoins disappear.
- BTC is a market driver
- It is safe, it was never hacked
- If you are looking for fully decentralized crypto, BTC is your choice. It is the most decentralized asset in the world.
- There is no lead figure in BTC. We don't know who is Satoshi and even if he is alive at all. What do you think would happen with some altcoins if something happens to their "figure head-leader"?
- Historically speaking, everyone who bets against BTC lost
- There will be no more Bitcoins. It is like a land, you can't make it more. You can buy it more, but you can't produce it more. Period.
- Bear market can turn you into BTC maxi
And if we talk about altcoins:
- Diversifying always decrease the risk
- People would argue that BTC will remain as digital gold, but other coins will prevail with tech and new invetions
- Altcoins could provide better ROI. Higher risk-higher reward.
And as most of us are aware, people are here for the money, not the tech. They would rather gamble with altcoins and earn a lot of money or lose it all, then trying to have a steady income with BTC over the years - Some people would argue that Bitcoin is an old tech, basically something similar we had when internet started. Over the years it upgraded, and we have better ineternet now. We don't watch VHS tapes anymore but we do watch movies, right? (I do hope that analogy is good)
- They believe that they missed the boat with BTC
Anyway, most of the time, as I noticed, it is only because of higher rewards. A lot of people are not interested in x2, x5 return. They want more. They want x10, x20, x30. They are going for all or nothing. And that is understandable. And good luck with that, really, I am not being ironic. Most of us want it also, but we also own some BTC. Some people just want BTC.
Point of the story, people have their reasons and they are sticking with them. Maybe they are right, from their point of view.
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