Meme token was just another short term trend that already passed. This was also ruining the crypto market. So many scam meme tokens were fooling the newbies. So, it doesn't matter how big or small amounts that already scammed but the reputation of crypto was being destroyed caused by this trend. it's simply to call that meme token as a scam trend that was creating so many new scam tokens in the market with so many non sense thing like deflationary and many more.
It was ruining the cryptocurrency.
Topic: [DEBATE] Are meme coins ruining cryptocurrencies? (Read 351 times)
Its like saying are NFT's helping prospering the crypto currency market or whether NFT is ruining the crypto space? You get my point here? Meme are meme's with their specific portfolio such as low value, diluted market, unlimited supply, just there to joke on social network and use their funny pics. The value rises based on pump and dump volume rather than its use case. So it's either flourishing in its own universe or downgrading itself. But as whole crypto remains unhampered with it.
It is not the same thing really, when you are using NFT, you could use it differently, or you could simply do an "art" scam thing that is understandable and you can't say NFT is bad by default, or you could have some other thing that you could discuss if it is good or bad and there will be some who use it good, and some who use it bad. But, memecoin as a concept is bad, there is no scenario where a memecoin could be something decent, they may not be a scam, like doge is not a scam, I get that but you do not have to be a scam to ruin crypto. You could be just a meme that ruins peoples financials because they are focusing on "fun" part when money is not to be joked about.
I think meme coin is just another stream in the crypto space out of hundred. I mean there hundreds of different projects out there and everyone serve different purpose here. I mean some of them are based on financial systems, some are gaming based, some are promoting the arts, some are just to scam, and some are like meme coins and many more. Its like saying are NFT's helping prospering the crypto currency market or whether NFT is ruining the crypto space? You get my point here? Meme are meme's with their specific portfolio such as low value, diluted market, unlimited supply, just there to joke on social network and use their funny pics. The value rises based on pump and dump volume rather than its use case. So it's either flourishing in its own universe or downgrading itself. But as whole crypto remains unhampered with it.
I think meme altcoins are making crypto currencies more popular around the world which is obviously a positive sign as we know there are lot of meme altcoins in crypto market and few of them are well established in market for example doge, shib and some other if these meme altcoins were ruining crypto market then they would have disappeared because people are not interested in them.
Everyone's approach is different, so we can't see it in a completely negative light. I still see positive traction to drive this market, but the reality is that things are happening with problems that are easy to create products for, so a lot of developers have created this junk. Maybe people will gradually realize its value. With such things popping up in the space, in the long run, we will only see MLM patterns and the creation of dangerous financial bubbles.
It helps a bit so I guess it's not entirely ruining cryptocurrencies.
They make trends because of their cheap price where investors could buy millions in amount then support it by means of social media.
Because of that, there's a chance Bitcoin will be seen. Trying to be optimistic.
But there's also the bad side of it. Meme coins with the sole purpose of scam that may lead to ruining investor's capital and may not try again with other currencies but instead look for different ways to invest his money. Two sides of the coin.
They make trends because of their cheap price where investors could buy millions in amount then support it by means of social media.
Because of that, there's a chance Bitcoin will be seen. Trying to be optimistic.
But there's also the bad side of it. Meme coins with the sole purpose of scam that may lead to ruining investor's capital and may not try again with other currencies but instead look for different ways to invest his money. Two sides of the coin.
They're really useless just shark's manipulation tools, but they don't really destroy cryptocurrencies. The cryptocurrency market has grown to where it is today in part thanks to the hype of memecoins.
They are famous for their thousands of% growth and this attracts the interest of many new investors entering the market.
I don't think memecoins will go away and they will be an integral part of the market.
They are famous for their thousands of% growth and this attracts the interest of many new investors entering the market.
I don't think memecoins will go away and they will be an integral part of the market.
It reminds me of quacks of 19th centuries who were selling belladona poison as medicine. But every poison if given in right dose is a medicine and medicine if given more than needed can be toxic.
What I mean to say here is that some coins are technologically superior to the already existing ones and in long run will benefit the market, such alk coins like Dash and others will make market better. But yes i doubt memecoins, they are just a fad..
What I mean to say here is that some coins are technologically superior to the already existing ones and in long run will benefit the market, such alk coins like Dash and others will make market better. But yes i doubt memecoins, they are just a fad..
They aren't ruining anything. They are only ruining the "lives" of the people that are investing in those meme coins hoping to get rich overnight. Even they are aware that they are taking a huge risk and will lose everything, yet they still invest in those scam coins and encourage those scammers to create more shit coins.
There are literally thousands of meme coins and there will be more. Just ignore them. They will die eventually, as usual.
There are literally thousands of meme coins and there will be more. Just ignore them. They will die eventually, as usual.
I personally am completely neutral about it. The problem with some participants is that they are not positioning themselves with knowledge of this market. Many people mistakenly believe these trends and are drawn into pump/dump teams. This space, which is becoming increasingly accessible, is also a way for bad actors to exploit greed and limited knowledge among participants. We can't blame anyone, when we ourselves have made mistakes. It creates a junk market, but over time and with lessons learned, other people also look in the same direction. Be positive to know what is really right for you, especially when looking at the benefits and risks of this market.
Scam meme tokens are usually making bad impact to the people's mind. They are generalizing if crypto were full with scam after being scammed caused by their own choice to trade on the meme token. This is always happening so many times. People have no clue about what they have bought and this is the bad thing from the meme token if this is giving a bad impact to the mentality. too many scam in the meme token was also making people being scared to invest in the cryptocurrency and this is giving negative impact that was affecting the reputation of whole crypto in the market
It is completely useless coin but it can survive as long as it has volatility because most people uses cryptocurrencies as investment so basically they don't really care about the technology they just look at the price growth chart before making investments that's it.
trend and hype, that is be the reason why alot investors investing in shiba and i think they were not wrong with this decision as long as we remember the goal investing in crypto was about profits and profits. no one care about utility right now , joining at hype and trend for most traders now be easiest way to earn money. just look at poject that have utility, some of them even have no trading volume and price stuck in a range. 
Of course, they do. I mean we are talking about losing all of the credibility of crypto at one project and then you are expecting it to gain it with another.
People who made 200% returns on doge, will not look at bitcoin as a serious thing, they want to join in the "fun" of making money. That is what they caused, they turned money making into something fun, which is awesome if sustainable but as we can see it is not, if it was something people kept doing forever, then I would be fine with it, but since it ended, people can't find fun anywhere and that causes them to look at wrong memecoins where they lose their money. If this keeps up, I do not think that we could recover from it.
People who made 200% returns on doge, will not look at bitcoin as a serious thing, they want to join in the "fun" of making money. That is what they caused, they turned money making into something fun, which is awesome if sustainable but as we can see it is not, if it was something people kept doing forever, then I would be fine with it, but since it ended, people can't find fun anywhere and that causes them to look at wrong memecoins where they lose their money. If this keeps up, I do not think that we could recover from it.
Meme coins are just coins that has no use case and sometimes doesn't have any benefits to the investors.
I think meme coins aren't that necessary but not to the point that they are ruining the crypto market and one thing more is that, meme coins will always be there whatever happens so... yeah lets just live with it.
TBH, this is kinda subjective because it will depend on the investor that you will ask. Probably for some, it ruins other crypto because they lost money investing into it but for somebody that hasn't touch any meme coins they might disagree with this or maybe no comment at all. I also invested into meme coin once (SAFEMOON) and I lost money to it but it was a small amount only and I'm ready losing it.
If a meme coin never gets listed and they only grab money, yes but for the meme coins that stays a little bit longer, investors gets a benefit with it as long as they are early to invest. They aren't necessary because we already have lots of cryptos on this market but like it or not, there will still be new meme coins that we will see because of those greedy coin developers.I think meme coins aren't that necessary but not to the point that they are ruining the crypto market and one thing more is that, meme coins will always be there whatever happens so... yeah lets just live with it.
TBH, this is kinda subjective because it will depend on the investor that you will ask. Probably for some, it ruins other crypto because they lost money investing into it but for somebody that hasn't touch any meme coins they might disagree with this or maybe no comment at all. I also invested into meme coin once (SAFEMOON) and I lost money to it but it was a small amount only and I'm ready losing it.
An investor can complain and can say that all cryptos are a scam after they got scammed by a meme coin, this ruins the reputation of other coins but meme coins is the root of all of this, if only there are no meme coins, no investors will lose and they will give a positive impression towards this market.
That just opens up more ideas to come by interpreting it to cryptocurrencies, even the stupidest things like meme and viral things could be the next cryptocurrency that touches the market. Who knows we might see some good project on crypto from the weirdest ideas you could ever thought, we don't know what is coming next in terms of new technology and stuff so I'm more excited into this kind of stuff although there are always some downside that ruins the new cryptocurrency project.
IMO, I believe it is because in the very beginning those meme coins are just like experiments that's why it has no clear development plan at all, but as we all know that cryptocurrency is a very competitive industry that's why you must have a clear roadmap for its development including utilization and use cases to sustain or create the demand that can drive the price of its coin or token shortly, but mostly in meme coins those important ideas are absent that's why most of it is just die in the process and burn the investor's money, so let us think twice before investing in meme coins unless you are a risk-taker then it is fine for you.
I don't think it's damaging as long as the meme coin has good utility and ecosystem.
I think all meme coins don't have any utility. After all, the meme Coin is also one of the hype and it contributed to the pump in the crypto market last year. and I think that what is destroying the crypto market is the coins that come from fraudulent projects. it is these coins that lower investors' confidence in investing in the crypto market. such as past market crashes resulting from the many fraudulent projects being released. at that time the market was really chaotic and it took a long time to recover
Meme coins are both beneficial and harmful, as you say after all the hype mostly happens around memecoins and thanks to these hype has attracted a large number of new investors into the market. But besides that, a lot of scammers have taken advantage of memecoin to scam and cause damage to investors, especially newbies, making them lose confidence in the cryptomarket. 
Yeah, maybe giving some negative impacts on cryptocurrencies but anyway i am not fond of any meme coins.
You can try to find meme tokens easily on CMC based on its total supply. Mostly of meme tokens were using multi billions as total supply and you can't even calculate it without the help from the calculator. i can easily mention some of them like dogelon, safemoon and many more. These meme tokens are still exist in the crypto market. It was giving very big impact to create so many fear around the crypto users especially for newbies that are newly coming to the crypto. Meme tokens are just a plague for the crypto users. If you are not investing your money carefully and you will be rug pulled and by the way meme tokens are destroying the reputation that already built in the past
meme coin is transient. It has no effect on cryptocurrency and is not destroying it. So there is no reason to worry about meme coins. Some coins can be noticed like Bitcoin Etherium etc. which are usually much earlier. These cryptocurrencies can affect different markets.
The presence of meme coin has changed people's view of the cryptocurrency market because most people have to accept losses after investing with some of these meme coins, before meme coins entered the crypto market, many people think and believe that crypto is a very good investment place for the long term but After the coin meme appeared, everything just changed and made some people have doubts about the future of cryptocurrencies.
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