Bitcoin Only!

Apparently, you can't post the name of other shitcoins here on this Reddit so this story is in regards to the major shitcoin that blew up this week.

I believe the quote goes something along the lines of

"Sometimes the most important life lessons are the ones we end up learning the hard way"

That quote rang true this past week when I sold most of my shitcoin and the stablecoin of said shitcoin at a loss and had to witness many people in that ecosystem lose their life savings, college funds for their kids and their whole portfolios within the space of three days. However, in many ways, I see this as a blessing because it was the wake-up call I needed to realise most of these shitcoins that have fancy protocols and VCs propping them up are all ploys to swindle the money of hard-working retail investors.

People have to realise that this shitcoin at one point was the 4th largest crypto with the 2nd most TVL. Furthermore, when adding their stablecoin shitcoin to the mix, the total market cap of them combined as a whole was 80 billion dollars and all of this was wiped away within the space of 36 hours! The importance of these figures is to convey to people that if this can happen to them it can happen to any of the other shitcoins out there too.

The majority of the news that is coming out post-attack, is indicating that this was a George Soros type attack and someone exploited the protocol to make a massive profit. Therefore, many people in that shitcoin community are still hopeful of a relaunch with new tokens being compensated to the previous holders. This is nothing but pure ignorance as these people have to realise whilst yes the attack was unfortunate, the fact that there was a weakness in the design of the protocol that allowed it to be exploited in the first place should signify the dangers of these coins.

This type of attack happening to Bitcoin would be practically impossible as Bitcoin has excellent infrastructure with good security and a stable network. It has proved to be reliable and resilient over the course of the last 13 years. It has survived numerous debacles such as Mt Gox, Silk Road, Blocksize wars and claims from fraudulent individuals claiming to be the founder. There is no face to it that can influence the decisions of the community, therefore, forcing the community to find a consensus to aid Bitcoin in evolving. It is for reasons among many more that I could list that from now on I will only invest in Bitcoin in regards to crypto.

Please if any of you are holding coins other than Bitcoin please just sell them and stick to Bitcoin. Take it from me, someone who has been in the community of a shitcoin and seen the destruction and carnage that ensued as a result of its demise. The easiest way to summarise it is if I asked you will your favourite shitcoin be here in 5 years the answer is most likely no but with Bitcoin, it's a guaranteed yes so save yourself the pain and time.

submitted by /u/SpiderUST
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