What happens in a scenario with too many altcoins in existence and not enough bitcoin buyers? Does the entire crypto market fail? a lot of alt-coiners don’t seem to understand the risks associated with these altcoins… : CryptoCurrency

I own both bitcoin and Ethereum. But I’ve hedged my holdings appropriately.

However, I feel like there are too many people who weren’t here from 2016-2018 and didn’t see all of these new “next bitcoin” or “next Ethereum” projects. Just search for EOS or NEO for your “eth killer candidates” and then search “digibytes” “Dash” and “Nano” for your “bitcoin killers”. No, really, I thought I was going to buy and hold the next coin that was “better than bitcoin” because “bitcoin is, in fact, old technology that can only do 6 TPS on base layer without segwit.” My altcoin journey was Neo to EOS, EOS to XRP, and then XRP to Nano, and now here I am at Bitcoin comprising the majority of my holdings.

I feel like there is another problem that arises from people using or buying cryptocurrencies and not fully understanding what they do or how they function at a protocol level and literally only bitcoin was built to be that simple. Buy it, hold it, watch the number go up once every 4 years, or buy it and hold it for 4 years, then either A) sell some of the holdings you had for cash or B) Use your bitcoin holdings to buy something directly like a second hand car in Ukraine or C) use bitcoin as a substitute for cash when cash is unavailable (or wothless) in your country (Venezuela).

I remember the days when the lightning network looked difficult to use. Now it’s simple enough to learn if you have Phoenix, Muun, Wallet of Satoshi, or Alby. If you haven’t tried these and you’re still criticizing bitcoin, then I can’t help you.

TL;DR – look at what is in the top 10 right now. Hell, screenshot it if you want. Then check and see what is in the top 10 in 2024 or 2025 Try a lightning capable wallet before you criticize btc.