Topic: Are memecoins tarnishing the image of crypto? - page 9. (Read 1822 times)

We cant really be that conclusive when it comes to this matter considering that even if tons of people who had lost up their investment on meme coin venture but we cant really deny the fact that it is really just needed up

a little bit mix of luck when choosing up a particular coin/token on which on the time that you do able to hit up the right coin and been pumped out. Even with the minimal investment or few bucks could really be resulting
into life changing amount. Lottery or pure luck based? Possible but this is something that more faster or having that lesser risks or having that huge chance that lottery itself.This is why its not really that shocking that there are tons of people who are really that fan on dealing up with meme coins despite of the risks that it do really impose.Ive been there on which did really have those kind of impulsive approach into meme coins
but on the time that i have seen that ive been spending that much on it, then i did really stop but there are occasions on which if i do see that it does have the potential due to some those common analysis approach
then i might throw some few bucks but im not really that expecting much and this is how should other be people on doing so because if you are that expecting too much then you would really be finding yourself
on possible huge trouble in terms of finances spending.

I do not understand the logic of it, why did it become so much interesting all of a sudden? I get that it is not going to be something to be shocked about it and that should be the important case here. I get that not a lot of people actually do that badly, I understand that some people made some money but that doesn't change the fact that it is not really a needed thing at all.

I believe that it is not that shocking at all. I hope that people can make the difference between the two and could make a profit in the end. If you could just focus on it as just a meme project then you are not going to end up with any profit at all. Hopefully it will get better, but looks like it may not and it may crash very hard in the near future.

Memecoins are not targeted as scamming people, but scammers uses them to penetrate in and scam others interested in their investment, it is not also advisible for newbies to go with investing on those coins and tokens because there are scam projects among them and it will be very difficult to know any, the more these coins were being launched the more the tendencies of having some to be scam among them.


As a newbie, you're not expected to just jump into any cryptocurrency and invested, you need time to know how things works and how to differentiate from the ones to invest and the ones not to, you have to do tour own research on that and not every newbies may be able to know how to conduct a thorough research on crypto projects before investing.


It's part of the tricks they use to hype the coin value and market cap to deceive potential investors, when scam like this occur, it takes away part of the trust people have with cryptocurrency and it's reputation.

Yes memecoins are tarnishing the image of the crypto market because alot of individuals are losing to this scam projects more than those making money from them. Majority of the memecoins are scam but they still get hyped by the influencers because they're been paid to do this and this mislead those following this influencers in hopes of getting good altcoins for them to research on and invest. Memecoin has done more worst than good to the industry.

Individuals it has made rich are flexing their wealth to get attention and others believe they can get same wealth if they invest in other meme coin and that's when the scammers profits as they can create multiple scam projects and sell the scam tokens to investors.

Meme coins are only for the people who made an early investment in the project before it releases in the market and gets hyped by those latecomers the ones who lose most likely to their investment. The reason why newbies want to take a risk with the meme coins is because easy money, but you must need to make sure you are the first investor, I'm not getting to promote meme coins for me its part of the category if shit coins just hype. Risk at your own asset.

Memecoin is now the favorite of many after seeing some significant investment profits in the past. Some investors believe that Meme coin is the only one that can take them to their destination. As a result, they try to invest most of their money in memecoins. It is also true that during the last bull market memecoins gave the highest profits to the investors. But there is no doubt that most of the Meme coins that are constantly coming to the market and after a certain period of time they will scam. Maybe temporarily there will be good trading value but after some time all those memecoins will disappear. Investors must choose the right asset if they do not want to lose money.

Since many of these memecions were developed to defraud people and to help their creators become rich, rather than for any real social good, memecions are seriously damaging the reputation of the cryptocurrency sector. Therefore, those who frequently participate in these memecions, especially beginners, easily lose their money. As a result of all these misconceptions, some people who are unfamiliar with cryptocurrencies mistakenly believe that even Bitcoin operates in the same manner. Many people began to lose interest in the cryptocurrency market after hearing the news that some people had lost their money in the industry by investing in certain projects.

Before that, the cryptocurrency sector did not have many memecions, it is unlikely that you have heard that people have lost money in the field. To prevent being taken advantage of as a newcomer in the bitcoin market, you must have serious information and stay away from memecions until you have more knowledge that enables you to conduct appropriate research and be able to distinguish the coins with a solid reputation, you should only to invest in Bitcoin first with you basic knowledge.

Obviously they bring a bad name to crypto and I could say that the fault lies in the newbie for investing in that coin but the biggest marketing occurs for these shitcoins only because Bitcoin does not need any.

Even so there are people who make money from shitcoins like the ones who promote them but definitely the ones who invest and trade, earn less. They are planned scams and hence the ones who are part of the scam are the biggest winners and not the ones who play with the fire.

To be honest, we can debate this at length but to keep new traders safe, I suggest to stay away from shitcoins and memecoins as much as possible.

Binance take care about business and fees listing commission only without care how profitable about some memecoins listed on their exchange market, we know how much expensive listing fees on Binance exchange and owner of memecoins get public interested with their coins after announcing listed on Binance. All kinds of memecoins not promising for long term investment how ever get guarantee with Binance or other exchange for listing, get hype on the early moment listing then will drop drastically and Binance kick out or delisted with many kinds of meme coins in their exchange due less transaction volume in daily day. For memcoins lovers, not wrong investing there but entry in the early and sell as soon possible when price pumping without hold for long term.

Because at the end binance like any other business was created with a single goal in mind, which is to make a lot of money for their owners, any other stated goal besides that is nothing but a corporate lie conceived to deceive their clients about the true goal of any bussines, so Binance is unwilling to not list a meme coin with high volume as they know that if they do not do it then another exchange will do so.

And while Binance is the biggest exchange at the moment, it is also known that no business can remain at the top forever, and disregarding huge opportunities to make money is something they cannot afford to do or some other exchange will eventually catch up to them.

The problem with fraud concerns not only meme coins, but also the entire cryptocurrency as a whole. And of course, in such a number of meme coins are not issued daily, as you write about it. Nevertheless, you should carefully choose coins for investment, since any mistake can eventually lead to the loss of money.

Never ever consider on holding some meme coin because most of them would really be having just that 1 time pump then eventually dies which the dev or owner of such coin would just simply create another one and trying out to hype it and the cycle would continue and this had been always the case on which its never been that ideal to have that kind of approach specially on meme coins unless if you are dealing with some legit projects then you could really be able to hold up for long term but for meme? Nah, better not to have that kind of consideration.

Not all the time we would really be making money or profits with meme knowing that it could really be considered to be a gamble most of the time. If we do try to look around on how fast these meme coins been created then it would be just the same on how fast they would vanished out on thin air. Lots of things needs to be checked around before you do proceed because if you arent really that careful then it would
definitely be making you lose tons of money and realization would really be coming at the end and this is something that you should have avoided earlier.

And with a simple logic, CEX or DEX both are after with the potential earnings with a high volume there are lots of money that involves
making sure the fees will be converted to profits.

Memecoins are tarnishing the image as newcomers who think that they can be lucky and will have that chance to earn money just by
simply investing and trading this kind of projects without doing any research.

Early traders who ride before the crash / dump will take that chance, but most of them who invest last will suffer.

But that scenario achieve by the meme coins mentioned is not happen all the time with other meme coin since majority of those is built for scam and to bad for the investors if they believe that there's similar will happen to the coins or tokens they hold but they just end up being scammed. Much better if they do more extra careful on their investments and maybe holding meme coins should less on their priority. Best for that coin is for temporary investment since to risky to decide for holding it.

There are good memecoins and there are bad memecoins. And yes they tarnish cryptocurrency image. The team behind these coins that intrinsically has no value are only after the money. They will wait until a lot of people invest in it and the price appreciates only for them to pull the rug. The naive investors who didn't do their research and who cannot different memecoins from others will eventually call Bitcoin and other honest crypto project a scam, tarnishing it's image.

Let's take a minute and look into some things, from your first paragraph, you said 95% are scams which I myself can attest to, they are frauds hiding behind the hype to milk money from onena be investors of altcoins we have in cryptocurrency, they don't do research or any sort of background information before they threw money into this crypto projects and you know what, I'm very confidence that when another hype comes around, many will buy into the scams and cry later, the only thing they understand is loss and they never learn.

Following your second paragraph, is there actually a meme coin that is still profitable till today, apart from the norm of Elon tweets to make massive candles on doge coins, even Shiba Inu is struggling for survival, most people even bought it at ATH and they are all sitting on the same bench with high hope that it will bounce again to the moon but if Meme hype doesn't return by next bull run, then they are as good as wasted projects.

My third observation on your third paragraph, from now on till before the next halving, as long as we don't have a new trend in crypto, the current meme coins hype and the scam is the only profitable thing developers do just like when we had ICO time back then in 2018, meme will also last for the same months until there is another fast opportunity to make money in crypto but at the same time, I'm skeptical about what the new trend will be in the next bull run.

I feel like the risk people are taking would be higher so if they are trading on CEX  that doesn't just tarnish crypto, but it tarnishes the exchange as well. I mean look at Binance, they are super rich and make billions and they are still listing some meme projects just because it has volume.

I get it, because the trading volume is high, that makes it more profitable to list since they will make money based on the trading fee and that's why it's a risk, but I believe nobody should do it like that, people should end up using it a lot better. Binance should be above all of this, they have enough money and they do not need some more just from memecoins. When they do list them, I just feel "you have enough, why drop yourself to memecoin level?".

You know if there are other investors here in the crypto space who are investing in memecoins, it is because they are participating in a small amount that they can time that there is a potential for the value to increase in the future, as happened with Pepecoin, Shiba inu, and dogecoin they can advance in life immediately. And we can't stop it if it's their choice of decision. Especially since they are willing to lose the capital they will use for meme coins. And I also think that this mentality will not disappear from other people in the crypto space, who knows if the era of meme coins will come.

Teaching newcomers about crypto?
Do learn to take a lot of losses due to crazy price fluctuations with hype at the beginning and will dissipate by the end of the trip. Memecoin is very risky and not recommended for beginners, if they are not prepared to lose. Memecoin is indeed a form of community building, but the community that is built really needs to be solid, not just for the benefit of the memecoin developers. There are many goals that can be achieved, so that the memecoin can be useful and grow.

I'm sure there is no data about the numbers you mentioned, ie. Thousands and 95% (5% is very generous, in my knowledge there are there meme projects surviving which are: Doge, Shiba and Pepe). Better to not give definite numbers when you don't know.



Meme coins is just new trend in terms of shitcoins. We saw Bitcoin forks, icos, defi and now meme coins. In each of these few coins survive in long.


No one cared about doge until shiba came and shuffled the memecoin market.