Before investing on meme coin or shitcoins consider this. - page 8.

avp2306

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Quote from: Yatsan on May 21, 2023, 11:08:41 AM

Quote from: Marykeller on May 21, 2023, 08:41:49 AM

Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.

1. They are not created for long term most of the time shitcoins exist for short term and devs who create it will dump this because they move to their next project to avoid losing your money sell it immediately once you are in profit.

The most important thing is to entirely avoid shitcoin.

Shitcoin was designed with the intention of defrauding people. it usually doesn't work out successfully, you shouldn't assume that it will ever provide you a profit, whether it's for a short-term or long-term goal. Due to the possibility of a scam, there is no need to invest in it at all. shitcoin should be avoided with passion

Would be vague to just avoid. Shitcoins are still profitble you just hve to study their price actions and to know when would be the right time to enter. OP have valid points in particular with not holding the mentioned category of cryptos for a long period of time. These tokens are just good for short term holding and I'd say best at swing trades only. Holding for a longer period of time would more likely result to huge loss given that prices often decline upon the release in the market. As long as there's volume then it has a potential. We just have to make use of that potential and not to jist wait for things to be in favor with our expectations as investors.

That's right although there are so many scams but still this is not valid ground to totally leave them. There are shitcoins giving some good profits to their traders, we just need to be cautious and avoid get hype on situations happening like big price increase so that we will not lose our money for wanting for more. Its just we need to out smart those scammers and never believe on any hyping techniques they want to create.

Yatsan

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Quote from: Marykeller on May 21, 2023, 08:41:49 AM

Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.

1. They are not created for long term most of the time shitcoins exist for short term and devs who create it will dump this because they move to their next project to avoid losing your money sell it immediately once you are in profit.

The most important thing is to entirely avoid shitcoin.

Shitcoin was designed with the intention of defrauding people. it usually doesn't work out successfully, you shouldn't assume that it will ever provide you a profit, whether it's for a short-term or long-term goal. Due to the possibility of a scam, there is no need to invest in it at all. shitcoin should be avoided with passion

Would be vague to just avoid. Shitcoins are still profitble you just hve to study their price actions and to know when would be the right time to enter. OP have valid points in particular with not holding the mentioned category of cryptos for a long period of time. These tokens are just good for short term holding and I'd say best at swing trades only. Holding for a longer period of time would more likely result to huge loss given that prices often decline upon the release in the market. As long as there's volume then it has a potential. We just have to make use of that potential and not to jist wait for things to be in favor with our expectations as investors.

gaston castano

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Quote from: livingfree on May 20, 2023, 04:26:24 AM

Good advices but here's a thing or two about these people that have been investing into these and keeping the faith for their fate of being rich with those.

They won't listen to people's reminder that are worried and concerned about them. They'll continue to what they've been doing and no matter what reminders and tips you give them, they'll still give their best shot to it.

As they've been into, they'll only say that they afford to lose it and what if the investment they've made there will make them rich. Even so, they won't listen until they ran out of money.

It's true that some individuals may be resistant to advice or warnings when it comes to their investments, especially if they have a strong belief in the potential for financial gain. This behavior can stem from various factors, such as overconfidence, fear of missing out, or a lack of understanding of the risks involved.

While it can be frustrating to witness someone disregarding cautionary advice, it's important to remember that individuals have the right to make their own decisions, even if they seem unwise to others. It's essential to approach the situation with empathy and respect for their autonomy.

carrie_white

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first of all, thank you for this very useful thread, because many people want to get rich quick just by investing in meme coins, regardless of the risks involved, I think the biggest influence of people buying meme coins is just because of FOMO, they buy meme coins without understanding about what did they buy

Marykeller

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Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.

1. They are not created for long term most of the time shitcoins exist for short term and devs who create it will dump this because they move to their next project to avoid losing your money sell it immediately once you are in profit.

The most important thing is to entirely avoid shitcoin.

Shitcoin was designed with the intention of defrauding people. it usually doesn't work out successfully, you shouldn't assume that it will ever provide you a profit, whether it's for a short-term or long-term goal. Due to the possibility of a scam, there is no need to invest in it at all. shitcoin should be avoided with passion

Ziskinberg

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Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.

...

If this is what we want to happen, then why we should have to spend our time with these meme coins?
In fact, we have ETH, BNB, Matic, etc, those potential coins that we have known for many years. But because most of us wanted to become rich instantly, people will still invest and lose their money in hyped projects and shitcoins.

As the adoption continues, we also keep hearing these advices but unfortunately, this will never change the market sentiment, people will invest shitcoins.
And this issue remains forever because people still not learning and more innocent people comes and fall into it.

nesty

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Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.

1. They are not created for long term most of the time shitcoins exist for short term and devs who create it will dump this because they move to their next project to avoid losing your money sell it immediately once you are in profit.

2. Never believe about devs promises since they are not really there to help you but they want to scam people and want o get rich quickly.

3. Be realistic and don't join the FOMO since this could lead up losing your money.

4. Never believe on people telling you to hold or even buy more they just want their target to get hit and for sure they will dump it without your knowledge so sell first before other do so that you will not end up chasing pumps to gain back your capital.

5. Most important of all became a smart investor and never doubt on possible profit which is not in your hands. Always be grateful on profit big or small since this could give you contentment and became always bullish on your investment.

Well before investing into a meme coin we should do some research and study first. Check on the purpose and utility of the coin. Research on the credibility of the development team and their background, how well do they do know the goal of the project etc. The market demand and potential growth of the coin. Check also the risks involved and your financial situation. We should always remember to do your own research and make informed decision before investing in any kind of crypto currency to avoid such losses.

avp2306

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Quote from: livingfree on May 20, 2023, 04:26:24 AM

They won't listen to people's reminder that are worried and concerned about them. They'll continue to what they've been doing and no matter what reminders and tips you give them, they'll still give their best shot to it.

Mostly they would not listen to the advice given since some people think that people give them an advice just want to deprive them the opportunity to earn. They are close minded especially if they already have an investment on some shitcoins.

Quote from: ethereumhunter on May 20, 2023, 11:38:07 AM

So if you want to gamble with coin memes, you have to be able to find the right coin memes to get big profits. This is a difficult thing to do because, from the many coin memes, we have to get a lot of information that is not all true. So it's true that we have to be careful if we want to buy those meme coins.

So hard to find since we always have doubts if we talk about those shitcoins that's why other fall on trap then get FOMO since they think that there's a round two or even more rounds of that coin to pump.

poodle63

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It's a lot of things to be remember but the primary concern that must be known by people before they will be putting their money into the shit coin is they should have know if they were gambling with their money. There must not big a big expectation for that.

You will always be winning or losing. That's it. That's why only using the small amounts of money for meme coin.

TastyChillySauce00

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The first point is not even applicable for the token like doge coin and shiba inu. As long as the meme coin has fair distribution and it will not be dumped or rugpulled by the creator of owner. The fair distrbution has become the key to avoid the scam developers.

I think that some points won't be suitable for some tokens like doge coin and shiba inu. Shit token was speculative but fair distribution will able to decrease possibility for dev to dump in your ass.

rhodelmabanal

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I dont even try to invest this kind of coin it is a waste of time and it will make me loss if i invest in this kind of coin i will invest a very small amount of money on it this has no use case and no future development only the creator of this coin earn not the investors, i will invest a good coin even if it is very expensive than investing on meme coin.

Psynthax

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everyone should know investing in shitcoin in general speculative but also more of wasting money, only 1 out of 1000 gonna give you massive profits, everyone thinking they could become rich overnight are delusional unless they got really lucky.

o48o

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Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Can you define a shitcoin? Because back in time everything else but bitcoin was a shitcoin. And usually everythign other than i hold is a shitcoin. There's a wide shade of brown in shitcoins and many of them have been launched with good intentions. Not everything has been a scam from the start. Many of them are but not all low cap altcoins. They just later failed as they didn't got any hype or developers.

ethereumhunter

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What @OP said is true but there are still people who want to gamble with those shitcoins so they invest their money to buy meme coins and hope the meme coins explode once they are released to exchanges. But that is not the case as only some meme coins can explode while others will disappear from the market even before the meme coins are released.

So if you want to gamble with coin memes, you have to be able to find the right coin memes to get big profits. This is a difficult thing to do because, from the many coin memes, we have to get a lot of information that is not all true. So it's true that we have to be careful if we want to buy those meme coins.

Doan9269

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Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.

1. They are not created for long term most of the time shitcoins exist for short term and devs who create it will dump this because they move to their next project to avoid losing your money sell it immediately once you are in profit.

Investors will never sees them as shitcoins in the first place because they are so desperate to make money through them, but immediately they fail, then comes manners of them that people called then, they are just tokens, maybe people should begin to learn about the meaning of the word token and how it's been applicable in cryptocurrency, they are not the real coins.

Quote from: avp2306 on May 19, 2023, 11:52:20 PM

2. Never believe about devs promises since they are not really there to help you but they want to scam people and want o get rich quickly.

Don't believe them, dont rely on them, don't trust them, they are out for business and it will be better for you to consider them if you're able to developed a thicker skin.

Quote from: avp2306 on May 19, 2023, 11:52:20 PM

3. Be realistic and don't join the FOMO since this could lead up losing your money.

This comes often especially when the market begins to go dip, everyone on a run not to loose what they have invested, such is very common in altcoins investment.

ultrloa

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Quote from: coin-investor on May 20, 2023, 08:44:06 AM

Many investors know all of this but they prefer to ignore all the warnings in the hope that they can gain a lot of money being the early investors and when there's a huge pump, they know the admin will dump at an unexpected time and they are looking to dump ahead of the admin or when the admin is dumping.
There's a huge risk in investing in shitcoins you have to be on alert because anytime you could become a bagholder of the shitcoin you bought, never think that you can hold a shitcoin for the long term, shitcoins are created for admin to profit they are worse than a Ponzi scheme.

Many know the risk but choose to ignore it since what came out on their mind us to gain profit. They didn't mind those scamming since they are aware that this scenario happens. This is one of few reason why this scam devs became successful since there are atill grady people who want to test out their luck and and try to place a bet to test out if they could able to earn huge money for joining it.

There's huge risk investing on altcoin that's why we need to be more vigilant and suspicious on anything what we do especially when dealing some money yo anyone.

coin-investor

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Many investors know all of this but they prefer to ignore all the warnings in the hope that they can gain a lot of money being the early investors and when there's a huge pump, they know the admin will dump at an unexpected time and they are looking to dump ahead of the admin or when the admin is dumping.
There's a huge risk in investing in shitcoins you have to be on alert because anytime you could become a bagholder of the shitcoin you bought, never think that you can hold a shitcoin for the long term, shitcoins are created for admin to profit they are worse than a Ponzi scheme.

DeathAngel

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Nice post, OP. Very helpful to noobs who may be seduced by the promises of extreme wealth & opulence from shady shitcoins. You can definitely make good money on alts but you are far more likely to lose money than if you buy bitcoin or ethereum.

I think it’s OK to buy alts & tokens but don’t expect them to be a long term, sophisticated investment. Get in & get out when you make profit if you’re able too. Most alts have no utility & no future, it’s a short term smash & grab. Get in & get out.

Tytanowy Janusz

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Quote from: avp2306 on May 19, 2023, 11:52:20 PM

Shitcoins are starting to gain hype so to avoid losing your hard earned money read this.

Isn't it better to advice people just to stay the hell out of this mess? Since we agree that they are created to scam people for money, they have no utility and only a "funny" name, is there any technical or fundamental indicator that can predict when the project developers will get bored and throw away all the coins doing 90% dump?
The whole thing is therefore nothing more than a casino which, unlike a roulette, has no known winning probability or house edge. It is therefore much better to go to the casino and bet on 00 all your money.

I will say more. by participating in this scam, we are only adding fuel to the fire. We make the attention of the community and investors not focus on new, innovative, groundbreaking projects, but on scams that do not bring anything new to crypto space. You wanna gamble? go to casino.

Taskford

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Quote from: livingfree on May 20, 2023, 04:26:24 AM

Good advices but here's a thing or two about these people that have been investing into these and keeping the faith for their fate of being rich with those.

They won't listen to people's reminder that are worried and concerned about them. They'll continue to what they've been doing and no matter what reminders and tips you give them, they'll still give their best shot to it.

As they've been into, they'll only say that they afford to lose it and what if the investment they've made there will make them rich. Even so, they won't listen until they ran out of money.

This problem which cause a lot of financial losses from those investors because they believe that the group of people they know online tells a true information to them and they ignore the warnings of people who's been concern on the actions they made. If people still believe that they can easily get riches on investing on shitcoins then provably they will end up miserable especially if they are the type of person which is easy to deceive by those manipulators.

Topic: Before investing on meme coin or shitcoins consider this. - page 8. (Read 1104 times)