Topic: Are memecoins tarnishing the image of crypto? - page 6. (Read 1822 times)

I think just looking at the name and token/coin category it is already a project that doesn't look serious. But it turns out that there are also many projects that are developing very well. Like Doge and Shiba. So Memecoin is a memecoin. So beginners must realize that sometimes memecoins are not created to continue to grow. It's just that memecoins sometimes just rely on hype or involve pumping and such. So no need to expect much. The presence of memecoins has actually given a different color to the diversity of altcoin types. And I think that's a good thing for those who understand that.

It was obvious that he was just having fun, and people took it too seriously and invested all their life savings to it as well. For years after that and even today it sometimes happens, if you check the reply section of Elon's tweets you will see people begging him to talk about doge again so that it would go up. Most people worked for maybe a few decades and made some money and invested it into something as silly as dogecoin, which still doesn't make sense to me at all.

I believe that was a big mistake by them, and I have never done something like that and would never even consider doing something like that, but it's obvious that they made a mistake and they are doing a big mistake along with it as well.

I do not think that meme coins are tarnishing the image of cryptocurrency.  People know it being created for humorous purpose and have no intrinsic value, they also know that it is highly speculative so those traders and investors that dive into it know this characteristic beforehand.  I believe it is the coins that are created to scam people is the one tarnishing the image of cryptocurrency.  They pretend to be a legit project that will stay but then they just run away with the investor's money.

Those realizations would really be definitely be able to experience or would be able to encounter because people would most likely dive in into this market just because for the sake of money or really having that profits
this what makes or pushes them to invest without even trying out to think or make out some research first on which it would really be that resulting into devastation on which this is where people would be able to realize
on what are the things that must done or do because if you do find yourself that being too greedy then you are prone to lots of mistakes and errors which causing for you to lose even more money.
There are lots or tons of memecoins that we do have in the market and its not something that you could easily get hold with or for long term because most of them are just pure pumps and dumps.

Are you saying that as a positive thing when you say that a lot of newcomers are influenced by the meme coins? I don't see that as a positive but it leaves a negative effect on those newcomers since it makes them think that cryptocurrencies are a get-rich-quick scheme which is not true but when they hear about meme coins and the significant success some people have received because of them, they will surely think that way about the market.

So, I believe meme coins and shitcoins are actually creating a negative image for cryptocurrencies among new investors because they don't do their research and just believe that all cryptocurrencies are like meme coins when the reality is totally different than that and cryptocurrencies don't provide that much profit in such short periods of time.

If you look at a beginner’s view, you will really believe that meme coins come to tarnish the image of crypto. Whatever the fate of meme coins, it will always reflect on the whole image of crypto space. However at some point, if you are in the old traders and investors view, meme coins have their own position in the crypto industry. Their failure will not determine the failure of crypto space. Unlike bitcoin which is the blood of the crypto that will totally be affected once bitcoin is certainly in a bad shape.

they form a team then spend money on marketing so their goal is profit and practices like this are mostly carried out by most altcoin developers, memecoin is part of altcoin, every day there are memecoin projects that appear, developers are inspired by the success of senior memecoin (dogecoin)

but newbie investors do not understand how the crypto market works so they continue to buy new memecoin tokens that appear, this is what often causes many newbie investors lose, remember there is only one dogecoin and only one shiba inu, it's just a dream if there is a new meme token developer who claims they will be the next dogecoin or the next shiba inu.

We can't deny the fact that these meme coins and tokens have some influence to a lot of newcomers in this market.
They have come to know about crypto because of these projects, so we can't totally discard their significance in this industry.
However, users or investors should still do their own job of research or study on what and how to invest on this market.
Not all meme projects are popular as doge, or shib. Even shib, I still doubt their longevity on this market.
So it is not because they are tarnishing the image of crypto, but all these creators who have no aim but to screw naive users, are those that ruining the image of this type of project.

When I started in this industry, the only thing I knew was meme coins that are known even though the price value in the market is very cheap, its community is very large, and it is the Dogecoin. Then, after Elon Musk mentioned it on Twitter, it suddenly changed, the wind blew on the dogecoin, and the value suddenly increased where the previous ATH was around 0.7$ something.

Dogecoin was followed by Shiba Inu, which was also mentioned by Elon Musk on Twitter. And the latest this year is the Pepe coin, which has shown something different from other coins and has been ahead for a long time in the crypto space as well. These three I mentioned are the top meme coins that are in almost every exchange you can see now, whether it is CEX or DEX.

So, it means that out of 100%, we can say that only 5 percent can give us a good income in this business field, as long as DYOR is still needed.

The attitude can change and that is what can improve their outcomes. If they don't have that get rich quick attitude and spend some time doing research on previous scams and shitcoins newbies can also learn that most shitcoins are useless if invested in. Then there are those people who promote these shitcoins across every new social media platform. They should be avoided at all costs.

Those who know bitcoin and how altcoins work, will never go for shitcoins and only focus on Bitcoin with patience.

I think if we do not let them tarnish the name then we do not need to do anything like that at all. I feel like the best thing to do right now would be to make sure that we are on the right path at this moment and do not buy any of them personally, do not get into the hype, do not promote it, do not try to get into their bounties, basically do not be part of it in any capacity and then you could see that it will go down and they will be gone.

Some people will do it, but let them ride the hype out and it will go down and they will regret it. If we keep on talking about how bad they are, it is going to only look like it is tarnishing the name of crypto, because we are out there trying to tell everyone how risky they are.

On the time that a certain meme coin did able to get that huge recognition on the market then it would be safe to presume that it would really be touching up those known exchange platforms or simply there is really that interest and recognition. Just like on what happened on $PEPE been listed on Binance and so as with those known meme coins which is DOGE and SHIB which did really get that kind of reputation and recognition in the market and the rest would really be just that copycats and  this is something not that shocking nor really that surprising. You could really be able to say that it would really be that totally unpredictable on which or what coins would really be able to reach out that certain state. Thing here or important is that you do really know on when to get in and get out specially on dealing with those copycats in the market.

There are tons and if you do invest blindly then expect that it would bring a huge damage into your investment capital because most of the are really just that pump and dump schemes which it did continually to exist
on this market because newbie investors or even old ones does really have that interest on fueling up these scam or shit projects.

I just think at this point that seeing from the history of these meme coins in general, its always these meme coins that have really big market capitalization that usually could retain their value for long.
the other that are having some miniscule amount of market capitalization are not so much good at retaining their value in long term.

I guess this is why many are calling it meme coins because its so uncertain about its fate few months into the future, though i would say the main reason it could tarnished the reputation of cryptocurrency is probably due to the fact that many of these meme coins are always trying to impress newbie by giving promise such as massive return is the main reason it could tarnish the reputation.

Most are risk takers as they are willing to take that route, risking their hard earn money in trying whether they will earn decently
into something that they just gamble with the fate of the said meme project.

Riding and trying to take a slice if possible that's the mentality behind, especially for those who have a long experience in terms of investing
with this kind of asset.

Buy low and sell high, easy to say, but in reality, for most victims, buy high and be stuck after.

People take advantage of the situation during the hype thinking that they could make money out of it just for a short while disregarding the risk. And whatever we do (warnings), they don't get it because what is in their mind is to make money. As long as they don't suffer losses from investing in meme coins, no way they could think that it was not a good investment. In fact, as we can see, meme coins investors have grown which means that they are still good. Maybe they are smart enough to handle the situation but if you are new and thinking about holding until bull season, that's going to be a huge mistake.

Unfortunately not a lot of people understand this and they make a mistake by keeping that going, I think it should be noted that it is going to take a while before people could make a big deal out of this but then we need to be careful about it as well.

It is going to be tough but people need to hear this and realize that memecoins are terrible and they are not to be trusted or invested. They still do it for some reason but they shouldn't and that is the biggest trouble. I think it should be noted that we are going to end up with a result that will not be the same. I know that it will not be that easy and we are going to end up with a solution that would be different but we need to get rid of memecoins for sure.

Meme coins will never have sustainable value in the long run. Even if you see it listed in exchanges, and have its own starting value, that will never guarantee that it will be more valuable months or years after. In fact, a lot of them end up losing their value and considered as dead coins. So you end up wasting your money and time as well hodling to that coin instead of buying a potential coin like bitcoin in the first place that may give you exceptional profits in the future.

It's like an advertisement in the cryptocurrency market. Even though there are already a lot of scams happening on meme coins, people are still here. Because for sure of the enormous return on some meme coin that we already experienced.
People must learn. It's like becoming a Ponzi scheme because most of the people who will benefit are those who are positioned first.

Bare in mind that if there were no people who do invest with neither those shit coins or meme coins in the market then pretty sure that there would be no devs that would be continuing on creating one but since they do see the different on which there's really a demand into it then there's no doubt that they would be creating tons of it because there are blind investors who do really that keep on believing that they could get rich on investing on meme coins or some shit tokens when it gets pumped. Cant really be denied that the chances or odds is there but the chance of losing your investment is high if you havent been able to do such thing properly like getting out
when it gets pumped or simply when you are on green. We know on how pump and dump works and this is what the basic movements or fundamentals on which it is really that usually happening on these projects. We know that even these things are shit but there are still people who do continue to support and invest because they do really believe on one thing which having the chance on becoming rich specially if these coins do able to hit up that 10-100x-or even 1000x easily which we know that it is really that possible on this crypto space specially if its been hyped up. Everything is possible but really on rare chances.

it might seems rather unfair that these shitcoins are tarnishing the reputation of cryptocurrencies for the sake of their own profits but its also the mistake of many people
to invest in meme coins and wanna get rich quick and blaming the whole cryptocurrency market for their own mistake is rather silly, so I don't think its justified in my perspective.
but it doesn't matter honestly, the market capitalization of cryptocurrency in total still quite high which is 1 trillion dollars goes to show that its still a huge investment market.
the shitcoin are there just for people to speculate, and I think everyone investing in shitcoin knowing well it has the chance to turn their money into literally nothing.