Buying shitcoins is not diversifying, it’s gambling

Lately I’ve been seeing posts by people wanting to know what goins they should invest in to “diversify”. Seeing these posts suggest that a lot of people think bitcoin is a safe bet and wanting to buy other coins to outpace bitcoin – all while calling that diversifiyng. Bitcoin is still considered a speculative asset, so buying shitcoins that are basically tied to bitcoin (in the sense that if bitcoin takes a dump, the rest of crypto takes a dump too).

Buying these shitcoins to reduce your investment risk is IMO wrong. You can win more, but you can also lose more buying shitcoins. It’s gambling, not risk management.

Just to clarify – i believe there are lots of useful and innovative projects on the market, and i support investing in those. But putting 50$ in every shitcoin you hear being shilled online is not investing.