Are memecoins tarnishing the image of crypto? - page 2.

JeffBrad12

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Quote from: Marvelman on February 04, 2024, 11:40:30 AM

Are memecoins giving crypto a bad name? I kinda think some of the really terrible memes make crypto look shady to newcomers. But we shouldn't judge the whole community based on a few lame meme coins. Sure, most of those things are basically scams or jokes. But I get why people roll the dice on goofy stuff like that, even if they'll probably lose. Crypto started as an experiment, so we should keep an open mind. But the scammers and pump-and-dump garbage does hurt perception. Maybe we need better education so people make informed decisions. The tech has value, but we have to be honest about the risks too. Just my two sats.

i think though people are smart enough right now to differentiate one crypto to another, but indeed it can still tarnish the image of crypto, after all some people think every crypto in existence is bitcoin.
and this could possibly tarnish the image of bitcoin too since bitcoin itself is already being approved of its ETF to put it simple bitcoin is more accessible for general population than ever for investment i think it also great if there's any good material to know before hand for any newbies that tries to invest that there exist certain meme coin created purely for speculation that could potentially cause us to lose money.
the many reason meme coin still exists to this day is that some newbies trying to become millionaire within a night and fail at that miserably.
the rest of the meme coin investors other than that are speculators but that fine since they know what they are speculation and know the risks, its those that don't truly grasp the way of investing in crypto that usually fall victim.

Marvelman

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Are memecoins giving crypto a bad name? I kinda think some of the really terrible memes make crypto look shady to newcomers. But we shouldn't judge the whole community based on a few lame meme coins. Sure, most of those things are basically scams or jokes. But I get why people roll the dice on goofy stuff like that, even if they'll probably lose. Crypto started as an experiment, so we should keep an open mind. But the scammers and pump-and-dump garbage does hurt perception. Maybe we need better education so people make informed decisions. The tech has value, but we have to be honest about the risks too. Just my two sats.

Kelward

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Quote from: Bushdark on July 28, 2023, 05:06:10 PM

Not all meme coin are scam but it is obvious that many scammers have hijacked the trend and all they have to do is keep creating new meme coins and launching them to make money from innocent investors that have no experience about the market. Truly they are tarnishing the imagineof cryptocurrency and there is nothing we can do about it unless the government comes in and sanction crypto projects that tend to become rug pull. We just need to be very careful enough so that we are not going to fall Victim to scam projects that will nit last long in the market.

Any market where there is no organized regulations of any sort, where anybody can come in with their products and there is no framework to check whether standards to protect consumers from fakes are carried out, there you will find a lot of scams. This is why fraudsters will launch scam projects in the crypto market, dupe their investors and get away with it, other scammers will see that scam is lucrative in memecoins and they'll also develop their own scam projects too, hype it and scam uninformed investors. If there's nothing we can do about scam projects in cryptocurrency, then we can only stay ahead by being better informed inorder not to fall victims, therefore every investor that wants to buy new memecoins, should carry out research first, then decide if they still want to go ahead to buy, also to remember to that it's better to invest the amount that they can afford to loose.

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Some memes are really bad and make the whole training system bad for newbies. However, the whole system should not be called bad for some meme coins. Some meme coins are actually stigmatizing cryptocurrency to newbies. Because most memes are scams. This is why newbies are advised to stay away from meme coins in the beginning. If a newbie invests meme coins despite repeated bans, no one else will take responsibility and cryptocurrency reputation will not suffer for it. Newbies are advised to trade carefully. Investing in meme coin there will be a very wrong decision.

bettercrypto

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Quote from: Bushdark on July 28, 2023, 05:06:10 PM

Not all meme coin are scam but it is obvious that many scammers have hijacked the trend and all they have to do is keep creating new meme coins and launching them to make money from innocent investors that have no experience about the market. Truly they are tarnishing the imagineof cryptocurrency and there is nothing we can do about it unless the government comes in and sanction crypto projects that tend to become rug pull. We just need to be very careful enough so that we are not going to fall Victim to scam projects that will nit last long in the market.

Actually, it's not just meme coins that are ruining the image of cryptocurrency or bitcoin; even other cryptocurrencies are also ruining the image of this field. That means meme coins, crypto, or NFT (let's include Bitcoin) are used or become tools by exploitative people to defraud the community here in the name of money.

But not everyone is like that; let's not generalize, because most people know that Bitcoin or cryptocurrency has really helped a lot in terms of financial problems. Then it's just common sense: why are there big companies investing in this field of Bitcoin or meme coins if it's all a scam? right?

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Quote from: Bushdark on February 03, 2024, 04:56:49 PM

I don't know why many people still see meme coins as a bad projects. What actually make them a meme coins?
I think this is one of the questions we need to ask ourselves before complaining why we think meme projects are polluting the Crypto market. Anyone can launch a project and due to the total supply of the project, we can know that the project is a meme coin without even thinking much about it. There are meme coins that are good for investment.

Meme coins success made many people earn much profitable with small capital, I think difficult to earn more than 1000% profitable with small capital in top altcoin standings exactly has highest price right now. Need to educate with some one has bad viewed with meme coins as bad project, actually meme coins give us large opportunity to earn much profitable with short term and low capital investing. Significant difference when trading in top standings market altcoin required much capital to earn much profit and need waiting for longer time raise more than 100% profitable.
Need make research before investing or trading with meme coins project, don't make your fault when get scamming with meme coins have bad viewed about meme coins project is not recommended for investing.

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Quote from: MIner1448 on November 30, 2023, 02:14:24 PM

There are indeed many memcoins in the world of cryptocurrencies, and there are undoubtedly many scams among them. This creates risks for newcomers who may face loss of funds. Some platforms may provide the opportunity to participate in memcoins while providing greater security than some decentralized exchanges. I think, on the contrary, more and more people are interested in memcoins, their popularity is growing.

I don't know why many people still see meme coins as a bad projects. What actually make them a meme coins?
I think this is one of the questions we need to ask ourselves before complaining why we think meme projects are polluting the Crypto market. Anyone can launch a project and due to the total supply of the project, we can know that the project is a meme coin without even thinking much about it. There are meme coins that are good for investment.

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If we talk about fraud in crypto, not only memecoin but many projects were scammers before memecoin was popular, most of the beginners who were fooled by scammers were because of FOMO, this is very normal in crypto, not only beginners, even people who have known crypto for a long time also often feel it. , but tend to persist because it's not just 1 project that they participate in

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Quote from: ananyabushra on July 28, 2023, 01:18:28 PM

Every day, thousands of memecoins are launched, and unfortunately, around 95% of them turn out to be scams. This scam epidemic is affecting many people, especially newcomers who lack experience and are more vulnerable to such scams.

Sometimes we don't realize that fraud is not caused by those who have desires but is based on carelessness and placing excessive trust in coin memes.
Basically, not all memecoins can be categorized as fraud and why they can just disappear on the market is because there is no interest in these coins so in such a short time they disappear without a trace.

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The issue arises when newbies join the crypto space and fall victim to these scammers, leading them to blame all of crypto as a scam. While some memecoins have indeed damaged the reputation of the crypto industry, others have achieved incredible success, with values skyrocketing by 100 or even 1000 times.

It has nothing to do with damaging the image of crypto under the pretext of memecoins and in fact indirectly the presence of coins like this can provide motivation and interest for people to join this industry. A person's interest really depends on how they know crypto and that's why knowledge is needed, not just seeing how to make a profit.

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For beginners, it's advisable to steer clear of memecoins. However, if they still want to get involved, they should consider investing in memecoins listed on reputable exchanges, even if it means earning lower profits. One example I follow is Bitget's memezone, where memecoins may not be listed at the start of their project but get listed at an early stage. Unlike DEX, these platforms provides more security, reducing concerns about being unable to sell,or removal of LPs.

Finally you try to promote another meme that you think has a good future in crypto, but how confident is this coin can survive in the long term, because there are many coins that are listed on leading exchanges but in the end they just die.
Viewing a coin as having a longer future is not the only way benchmarks are listed on leading exchanges because if that were the view then many beginners would be increasingly stuck with the narrow knowledge they have. Study a lot of things to determine the answer so that you have a conclusion to draw about meme coins.

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Quote from: shawonngp on November 29, 2023, 11:40:16 AM

Who's invest in meme seriously they will be lose everything, meme coins will never able to fulfil their expectations so they think that whole cryptocurrencies is scam.
Some people's invest in meme coins to rich quickly, it's risky way. All meme coins are scam that's not true, some of billions dollars marketcap coins are listed in big exchanges, Shiba, Doge both of good.

Just expect instant riches from investing in memecoin, it is a dream that will not come true easily. look how miserable it is for someone who loses a lot of money because of a memecoin they believe in, it's even better called a shitcoin. A new project that looks good at the start but then the dev goes missing and sells all the tokens he was holding. memecoins or shitcoins are scams, but not all of them but almost all of them. because some of the top memecoins like Shiba and Doge are my favorite memecoins to date.

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Quote from: retreat on January 17, 2024, 05:28:39 AM

Quote from: shawonngp on November 29, 2023, 11:40:16 AM

Who's invest in meme seriously they will be lose everything, meme coins will never able to fulfil their expectations so they think that whole cryptocurrencies is scam.
Some people's invest in meme coins to rich quickly, it's risky way. All meme coins are scam that's not true, some of billions dollars marketcap coins are listed in big exchanges, Shiba, Doge both of good.

Even when you say that, people are still willing to invest their money in meme coins because it's like gambling for them - if the price of the meme coin goes up drastically that's great, but if it goes down they just have to wait until there are some whales playing with the price meme coin, then sell it. That's the whole game in meme coins, because there is no economy in these types of coins, everything is just a game of manipulation and speculative.

It would be always that rags to riches and this is the primary thing on why people do really continue to put and invest into shitcoins or memecoins because they do know that there's really having the odds or chances on getting rich once they do able to hit up the right project. Even myself is really that a fan of with investing with meme coins on which i did make some considerable amounts of money
and also with losses too. There are really people who cant really just be able to bare up with the risk that there are ones who are really that afraid on taking on because chances of
rugpulls and scams are really that high.

Tarnishing? Sort of but there's no way that we can completely stop about its existence as long there would really be those scam devs that they would really be creating their own coin
and trapping with those greedy noobs who do really believe on easy money. This is why we should really be that careful on what we are dealing with.
So its up to someones personal choice whether they would really be risking

retreat

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Quote from: shawonngp on November 29, 2023, 11:40:16 AM

Who's invest in meme seriously they will be lose everything, meme coins will never able to fulfil their expectations so they think that whole cryptocurrencies is scam.
Some people's invest in meme coins to rich quickly, it's risky way. All meme coins are scam that's not true, some of billions dollars marketcap coins are listed in big exchanges, Shiba, Doge both of good.

Even when you say that, people are still willing to invest their money in meme coins because it's like gambling for them - if the price of the meme coin goes up drastically that's great, but if it goes down they just have to wait until there are some whales playing with the price meme coin, then sell it. That's the whole game in meme coins, because there is no economy in these types of coins, everything is just a game of manipulation and speculative.

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Quote from: shawonngp on November 29, 2023, 11:40:16 AM

Who's invest in meme seriously they will be lose everything, meme coins will never able to fulfil their expectations so they think that whole cryptocurrencies is scam.
Some people's invest in meme coins to rich quickly, it's risky way. All meme coins are scam that's not true, some of billions dollars marketcap coins are listed in big exchanges, Shiba, Doge both of good.

Yes, there is a huge possibility that a meme coin is a scam, or not a scam, rather it will not last for too long. There are many meme coins created, and one of them is dogecoin, but why is dogecoin still in the market and has value? First, although this coin was inspired by a meme dog, the creator is legit or the coin is legit, and many investors may find it funny about the coin, so they choose to invest in it by buying dogecoin, which results in the coin's circulation. That's why it's still available in the market.

In short, even a meme coin is a meme; if it is legitimate and investors start to invest in it, then it will be like any other coin that will be long-term in the market; you just have to be careful about what coin is legitimate or has the potential to grow and bring income to you, or learn to take advantage of the meme coin hype, then sell the asset at perfect timing.

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Quote from: ananyabushra on July 28, 2023, 01:18:28 PM

Every day, thousands of memecoins are launched, and unfortunately, around 95% of them turn out to be scams. This scam epidemic is affecting many people, especially newcomers who lack experience and are more vulnerable to such scams.

It's been like this even when before memecoin was a thing. Ponzi scheme, HYIPs, ICO scam etc, there were so many scams before a rise of memecoins but the vision of crypto's image is wilder today due to different stuff is going on currently. People would think like that because memecoins are most likely targeted to newer users and it's easy for them to get fed up with these memecoins because how medias think that memecoins are the way to make money because of the sudden rise at the same time.

For me the image is pretty much the same, even with the scams of memecoins. I don't think it will affect that much, once people think that crypto is bad then they will still think like this forever.

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Quote from: ananyabushra on July 28, 2023, 01:18:28 PM

Every day, thousands of memecoins are launched, and unfortunately, around 95% of them turn out to be scams. This scam epidemic is affecting many people, especially newcomers who lack experience and are more vulnerable to such scams.

The issue arises when newbies join the crypto space and fall victim to these scammers, leading them to blame all of crypto as a scam. While some memecoins have indeed damaged the reputation of the crypto industry, others have achieved incredible success, with values skyrocketing by 100 or even 1000 times.

For beginners, it's advisable to steer clear of memecoins. However, if they still want to get involved, they should consider investing in memecoins listed on reputable exchanges, even if it means earning lower profits. One example I follow is Bitget's memezone, where memecoins may not be listed at the start of their project but get listed at an early stage. Unlike DEX, these platforms provides more security, reducing concerns about being unable to sell,or removal of LPs.

Who cares what kind of coins that exist or not? Of course you have right to think whatever you want my friend but stop be so sensitive it's up to the individual to make a decisions not a government or something else, we must realize we are smart and have power to take our own decisions instead of being busy and complain about meme coins, because meanwhile we complain others getting rich because of them. Do we want to be a winner or loser? Meme coins is the ultimate short term investment, people that call them scams do so often because they compare it with Bitcoin instead of see it of what it is and don't compare apples with pears, and they also don't know anything about trading they probably just holding bitcoin and think that makes them to a pro trader. Cool

Knowledge is power. Come on now, let's take over this world together, I believe in you!

Good luck.

Elpeor00

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I don't think so, of course there are several scams among memecoins, but they are also very effective expanding awareness about crypto, especially among the young people and those less interested in finances or tech

They are also a good way to learning about crypto ecosystem, start trading with low risk (and potentially good returns in a bull run) and to learn how to spot a scam among new projects

Overall, I would say memecoins are less damaging than other things like valueless NFTs promoted by pseudo-celebrities or centralized exchanges running on unproven reserves

MIner1448

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There are indeed many memcoins in the world of cryptocurrencies, and there are undoubtedly many scams among them. This creates risks for newcomers who may face loss of funds. Some platforms may provide the opportunity to participate in memcoins while providing greater security than some decentralized exchanges. I think, on the contrary, more and more people are interested in memcoins, their popularity is growing.

Kelward

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Quote from: Bushdark on July 28, 2023, 05:06:10 PM

Not all meme coin are scam but it is obvious that many scammers have hijacked the trend and all they have to do is keep creating new meme coins and launching them to make money from innocent investors that have no experience about the market. Truly they are tarnishing the imagineof cryptocurrency and there is nothing we can do about it unless the government comes in and sanction crypto projects that tend to become rug pull. We just need to be very careful enough so that we are not going to fall Victim to scam projects that will nit last long in the market.

This is really unfortunate, because it is sending a wrong signal about cryptocurrency to the public, inexperienced people who are affected in this meme scams will go out there and speak about their awful experience. It's also unfortunate that there's nothing we can do about it, as more and more scam projects are introduced into the crypto space. The only thing we can do is avoid most of them that have not withstood the test of time, I'm very skeptical about buying into new meme coins, despite how promising they look.

I don't know if governments can regulate how they're launched in their countries, maybe it can help to control the influx of scam projects. Secondly it's important to educate our loved ones who have the interesting of investing in cryptocurrency, to be properly informed before venturing into it.

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Who's invest in meme seriously they will be lose everything, meme coins will never able to fulfil their expectations so they think that whole cryptocurrencies is scam.
Some people's invest in meme coins to rich quickly, it's risky way. All meme coins are scam that's not true, some of billions dollars marketcap coins are listed in big exchanges, Shiba, Doge both of good.

gunhell16

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That is not to imply that meme coins are immediately unattractive; they are not. People sometimes claim meme coins are bad, and they always say meme coins are garbage. which should not be the case. It's similar to Bitcoin in that it's used as a ruse to defraud investors.

Meme coins can also be used for an exploitative person's nefarious purposes. As a result, most meme currencies are not listed on the market's leading exchanges. It's really tough to control these scammers who utilize meme coins; in actuality, meme coins are frequently used.

Topic: Are memecoins tarnishing the image of crypto? - page 2. (Read 1678 times)