Topic: Are memecoins tarnishing the image of crypto? (Read 1822 times)

There are many reasons why cryptocurrency's good name is tarnished, one of which is memecoins and scammers as you said. Of course, this becomes a thorn in the tender flesh, because they also want to profit from this cryptocurrency, but the path they take is wrong.
Focusing on memecoin, on the one hand, the existence of memecoin has tarnished the name of cryptocurrency because many people are getting to know crypto for the first time and investing there and they immediately suffer losses. But on the other hand, the existence of memecoins also attracts many people to learn more about crypto, for example in my area many people are finally interested in crypto because they see people making big profits from memecoins.

To the eyes of the haters, crypto has been tarnished a long time ago and I don't think that meme coin is going to make anything much worse because they won't even care to know the most basic cryptocurrency out there because they find it disgusting or that they still have this notion that cryptocurrency is an implement for someone to do a crime like tax fraud, illegal trade, smuggling, money laundering, and any other archaic problems that were already a thing that's been thrown at bitcoin a long time ago. I wouldn't even think that meme coin is a tarnishing thing for crypto's image, imagine the fact that it basically bears the symbol of how a useless token can make someone a millionaire is already a big reference to early days of crypto where everyone thinks that crypto is useless and then things change for those that were taking the risk.

However, there are many things that make crypto tarnished, especially scammers who try to deceive new investors with meme coins, or projects that offer large investment profits. However, for people who have been in the crypto world for a long time, I think we are all used to this situation. However, for new people joining, I think it will influence their views, and spread their views to other lay people. This creates an effect like what is happening now in many people, who think that bitcoin or crypto is a scam and fraud.

We are on our own on this market whether you invest on memecoins or not, you have to be dilligent before doing it. Because it is your money that you are managing and you don't work for someone unless that is the setup you have for you to earn and invest on the market.
As always been told to DYOR. Everyone has been reminded to always do our research because if not, you're likely to fall into scams and many of the memecoins have been made mainly just for quick money of the developers so as the investors know that as well, they're trying to do things and ride on it while the hype is there.

It is not just meme coin, scam projects are also tarnishing crypto currency.
Cryptocurrency has always been connected to or been accused of being scam because of those projects.
For me if an investor or trader falls victim of those scam projects or failed altcoins, it was their fault for not doing a proper research.

No, they arent tarnishing literally- it is really that into those scam developers are the ones who are really that making that kind of bad views towards projects that been launched but as we do all know that in every industry or things online there would really be always that kind of probability about those frauds and scams on which i could say that it is really that inevitable. When you do step your foot into this space then you should be that making yourself that getting used to those projects whether meme coins or with those degens. It would really be just that depending on a certain individual whether they would really be that making themselves that making such involvement or investment just because with those kind of hopes on getting that huge profits once those projects will really be that pumping hard but we do know that this is really that case to case basis and a little bit mix of luck. There 's no way that you could assure that it could happen.

Scams and frauds are normal because we are talking or involving money on here. Even into those traditional markets which isnt that talking about crypto is experiencing frauds then how much
more that we are talking about millions of dollars that are circulating on this space? of course you would really be able to expect that there would really be those scammers on which these are always present.
So better be careful.

Its true that memecoin tarnishing the real face of crypto but memecoins aren't only responsible. If you analysis last 6/7 years chart, memecoins weren't so much in trend but there were shitcoins and those were also launching and scamming people as same way as memecoin do. You'll find thousands of shitcoins projects who sold their token in ico and never listen.. then when IEO came, team withdrawed all liquidity and scam people. And then defi did the same. And now memecoin doing so. So why only blaming memecoin? There are and there will be always shitcoins which will keep launching in future too. All Crypto industry won't be responsible for that if you choice shitcoin. So need to invest wisely

Memcoins generate more hypes than most cryptocurrencies because they spend significant resources in doing this. A lot of people started buying cryptocurrency through this means. Even though most of the memcoins turn out to be scams, some people that joined new end up continuing with cryptocurrency because they would have learnt how to go about chosing reliable cryptocurrencies to invest in and with time some will even learn that bitcoin is the best.

I have come to the point that I consider bitcoin majorly and my portfolio is 90% bitcoin. Once in a while some little money is directed to other coins but that's after careful studies and analysis.

Yes, basically meme coins are currently a very risky investment and are not recommended. However, many people choose to invest in meme coins because of the huge profit potential. However, it does make cryptocurrency look bad, when many people choose a meme coin, and it becomes a scam, then people will say that it is crypto. However, in this case, investors also need to be wise in choosing investments, and I really emphasize this, because generally investing in crypto is very risky, especially in meme coins. As the name suggests, meme coin, it is a coin that is not recommended. If you choose these coins as an investment, investors must be prepared for the risks.

People often loss their money due to greed even they know that most of the Meme coins turns into shitcoins but still they are investing in it because they wants quick revenue. This is only greed due to which people are often facing difficulties in life so if they choose successful coins and hold it by tolerating all dumps and pumps then he can reduce his greed as well as can get rid of the habit to choose shitcoins.

I will say that Meme coins are going as a successful coins these days but there is no commitment that upto which year they will be as such profitable as they are now because everyone is familiar that lots of people have lost their money just because of meme coins but still they are prefering their Meme coin due to greed and ignore the success of top coins.

Crypto is a risky game and it needs courage and knowledge to drive in true direction. Not only a memecins are shitcoins but also a crypto from verious catageoy, could be shitcoin. As memecoin launched a lot already and people greed too much, that's why most of people loss in memecoin investment and that's why memecoin comes to light but its in discussion that memecoin tarnishing crypto imagine. The solution is, don't be greedy and go for memecoin investment with a little fund what can afford to loss

My opinion is that meme coins and associated fraudulent schemes pose a risk, especially for newcomers. It's better for newcomers to avoid meme coins due to the high risk involved. If they still decide to invest, they should choose meme coins traded on reputable exchanges and be mindful of the risks associated with this type of asset.

And there's no way on stopping that and this is why it would really be just that right or wise that you shouldnt really be that confident on investing with these shits, but we do like it or not
there are really those people who do really love on engaging with these shits specially if they could be able to make some easy money or return.Even myself did make some
engagement with some solana degen or even on ETH network wayback and also with BSC on which there are really tons of shitcoins that you could really be able to deal with.

This is why it would really be that important that you should really be making yourself wary about those potential risks. If other people do really have those plans on
keeping on engaging to it then this market wont really be stopping and those developers would really be keeping on making those shitcoins everynow and then.

Shitcoins are keep launching in cryoto market since years but now they found a name which is "memecoin" and shift themselves in that category where they don't need to think about white paper, roadmap, verification ownership or anything else. Just make hype, pump the price and scam people. It is very common nowadays. And memecoins are always listed in low quality exchange by giving low fees. They don't go for good exchange cause they know that they'll be disappeared soon. Only shiba & doge can be considered but with caution

Thanks for being a perfect example of my meanings! this is exactly what I mean - Wasting time on nothing... Trying to battle each other... It's POINTLESS!

Point is - WHO CARES? Why you even care about this? You obvious need to lend money online from a stranger online and promote a casino and this is your concerns in life? If I was you I would focus on myself and my life instead.
Swift focus and focus on yourself and be a better person then you was yesterday, I am not saying you are bad today but if you need to lend money online you for sure can do a lot better! No excuses just do it.
Do something createful and thenyou don't need to lend money ever again from anyone give yourself freedom instead of speaking about it! Start to be a winner instead and stop F focus on things you never ever can make an impact on.


What did I claim? That I take western media lightly? I do they lie a lot very often.

PS: Yes I know how much money $3 Billion is it's exactly $3 Billion. Do  you know how much it is?

I believe in you friend! Start your journey now and stop wasting yours and my time for absolutely zero reason it will only lead to another loan.

not just teasing. This is the only thing that tarnishes crypto, long before memecoin was popular, many projects were scams like ico in 2017, and of course scams like this are difficult to eradicate, but if people are experienced in crypto, they will read more about the project, see the team, and who their investors are. Of course, so stay alert to crypto fraud, maybe now we don't know what the next trend will be

I got so many questions from this, like "why not do it more?". You do realize how much money $3 Billion is? It's like asking, that if Jeff Bezos can make so much money so easily, why not do it more?

And as you very well know, stolen crypto can be tracked by anyone as blockchain transactions are transparent, no matter where they trade it, and it's just not by government officials that have been tracking groups like Lazarus Group. Maybe you could dig up the proof as you obviously seem to know more then rest of us. And let's play that even if it wasn't because for some weird consipiracy NK related, those hackers still exist and how is that not tarnishing the name of the crypto more then some freedom of making meme tokens?

It will not be possible to say yes or no in answer to this question because an individual who has just entered the cryptocurrency market may lose all his/her money by trading Memecoin or in the opposite case, he/she may earn several times more. Of course, especially a new person, in such a situation, there is a very high probability that he/she will try to trade memecoin like crazy and at some point he/she will lose all the money he/she has earned, including his/her principal. In other words, like many memecoins that turn out to be scams there are many different memecoins on the market that can have positive results and for this reason they don’t cause newbies to think negatively about the cryptocurrency market.

I choose to take western media very lightly, they seems to be able to lie about very much about this I don't know anything and don't support North Korea but if they could steal crypto that easy so often...
why not do it more?

But others, like yeah who cares? If you hate them (meme coins), story your BTC and be bitter nobody cares about you and your'e opinion. (Now I don't speak about you, I speak in general)  
And also meanwhile these people is busy hating other getting rich.
And instead of work against each other and hate and push each other down that this forums members is expert to, work TOGETHER against the POWER. Because the PEOPLE is THE POWER.
But sadly to many is poisoned by their governments and believe everything they say like knee dogs.  
We could make this world amazing, but instead we turn part of part of it down mean while working against each other and the one in charge just smiling meanwhile.


People are to fucking busy to care what others does and thinks so they forget to live their own life to 100%. It's sad!

Yeah, this is totally about envy of others getting rich with "wrong" coins. And i find it distateful that people see freedom of making any coins as tarnishing the image of crypto. Meanwhile just 2 days ago there was a news article revealing that north korean had managed steal $3 billion worth of cryptos that were used to develope nuclear weapons for the north korea. But yeah, funny meme coins are the ones that are giving crypto a bad name. Pepe tokens and tokens alike are never going to to take crypto down, in fact they are bringing in new generations to this space, that want to show old suits what they think of their finances. But CEXes evading regulations and aml laws, the fact that terrorists get funded by this, might hurt us worse than anything.