I used to be that person so I definitely understand the mindset. This was in 2017. The person buying anything other than bitcoin is hoping for a nice flip. Sometimes it works but in the long run it’s a loss. Also, when you are at that level of understanding, it really does feel like bitcoin is “old tech”. Of course, now I know better, but back then I was just ignorant.
Discussion
This, this, one million times this. The hardest thing to fight for myself and people I have orange pilled is the thought of “trying to find the next bitcoin.” Reading and truly educating seems to correct it.
In 2017, if you timed things well, you could actually go from whatever you had in your wallet to $1m by hitting a streak of 10x flips. But you had to get lucky - no better than gambling. We called moonshot shitcoins “10xers” and everyone knew they were garbage. Bitcoin obviously moved too, all the way to 19k at peak in 2017 but it was not a move that made you a lot of money in a short period of time. But greed gets the best of people and the “last trade and I’m out “ is the one that punches you right in the face.
I won’t lie, 2017 was really fun from a gambling perspective.
I occasionally go to our local noob focused meetups and debunking ‘shitcoin X is better than Bitcoin’ narratives is a constant struggle.
Is Bitcoin an investment, yes.
Is ETH an investment, I don't know, maybe. Maybe it's totally worthless some day.
It is an ecosystem that has some interesting dapps to mess around with. A tool to better understand what's going on in blockchain & tec.
So to me, shit coins are no different than owning an expensive mountain bike or some other nice to have but don't need to have toy.
I love the saying because it is true. Can't find out if you don't fuck around.