Topic: [DEBATE] Are meme coins ruining cryptocurrencies? - page 2. (Read 348 times)
Many mecoins or shitcoins were already existing for more than years now yet we still see cryptocurrencies and some projects making progress, meaning people are still into cryptocurrencies. So I believe memecoins are not ruining the crypto space but those people who got involved on those because of course they just lost their money investing on such. And we should accept that there will always be things like this in any kind of space whether it is crypto or not. But it will not ruin the space it belongs and I'm sure of 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.
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.
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.
I think good and long projects have been given as much damage by these memes and Shit coins, No other factor did this . They completely change the way of investing. Before This investor first researched well in project and then selected a best suitable project for long term but when meme trend come , everybody just looking for Zero . The more zero in coin the higher chances the investor will buy it. They did research who's behind the team and what is vision of project but invested blindly.For some reason it really change the perspective of investor as checking the good coins they going to invest since these meme scam coins create huge awareness that not every hype coins are good to invest. That's why at this moment we can see more speculators and good advices from new people towards this trading talks here if there's a newbie asking for certain tokens also with coins they wish to trade.
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.
I think good and long projects have been given as much damage by these memes and Shit coins, No other factor did this . They completely change the way of investing. Before This investor first researched well in project and then selected a best suitable project for long term but when meme trend come , everybody just looking for Zero . The more zero in coin the higher chances the investor will buy it. They did research who's behind the team and what is vision of project but invested blindly. 
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.
When someone we called as a newbies has found a meme tokens from his friend but he known nothing about this meme token. his friend was promisnig a big return for him to invest in the meme token and he was doing his friend's advice to invest in the meme token then meme token was disappear and he was loosing his money. This means if he was also getting triggered caused by losing his money.
That newbie will be starting to blame the crypto caused by he was losing his money and he will call crypto as a scam.
That newbie will be starting to blame the crypto caused by he was losing his money and he will call crypto as a scam.
In the same way, this beginner can lose his money, even if he chooses an altcoin that has certain goals and declared usefulness. Thus, if you do not conduct a comprehensive analysis of coins for investment, then the risk of losing your money will be very high.
I don't think it's damaging as long as the meme coin has good utility and ecosystem. 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
I'm not against meme coin ideas and if dogecoin can make it this far then any community base crypto project is welcome, the problem with most projects isn't the use case but the people behind the project, to figure out which teams are serious is very hard, because dogecoin became big thanks to Elon many meme coins are created, it's obvious and clear that they are here to take the advantage of dogecoin success.
meme coins ruin the crypto ecosystem?
yes, but not only that all tokens are also included. basically projects using smart contracts are damaging the crypto ecosystem. 99% of projects released in the past to date that use smart contracts end up as scam projects, get forgotten or even die. all those projects are damaging the crypto market and harming investors. surviving projects are projects that use a private blockchain. they are actually developing the project and not just aiming to profit from investors.
yes, but not only that all tokens are also included. basically projects using smart contracts are damaging the crypto ecosystem. 99% of projects released in the past to date that use smart contracts end up as scam projects, get forgotten or even die. all those projects are damaging the crypto market and harming investors. surviving projects are projects that use a private blockchain. they are actually developing the project and not just aiming to profit from investors.
The negative sentiment towards memecoin is that most of them have just played with the price which provoked traders to come and then manipulate the price and drop the price in a very irrational way. Whereas in general, the crypto market has not moved that badly. In fact, memecoin is more likely to be considered a shitcoin for reasons of a cruel degree of price manipulation that is detrimental to many traders. It is worth remembering that loss is more like a kind of gambling, so it does not align with the purpose of cryptocurrencies in the market.
The basic thing about this.
When someone we called as a newbies has found a meme tokens from his friend but he known nothing about this meme token. his friend was promisnig a big return for him to invest in the meme token and he was doing his friend's advice to invest in the meme token then meme token was disappear and he was loosing his money. This means if he was also getting triggered caused by losing his money.
That newbie will be starting to blame the crypto caused by he was losing his money and he will call crypto as a scam.
When someone we called as a newbies has found a meme tokens from his friend but he known nothing about this meme token. his friend was promisnig a big return for him to invest in the meme token and he was doing his friend's advice to invest in the meme token then meme token was disappear and he was loosing his money. This means if he was also getting triggered caused by losing his money.
That newbie will be starting to blame the crypto caused by he was losing his money and he will call crypto as a scam.
AFAIK Doge came before 2015. Before ETH came, there is already doge which we keep using in casinos. For the mots part I lose most of it and it wasn't considered a meme coin, the users here are just calling altcoins being shitcoins.
But its true though that memecoin are coming like typhoon which every platforms are developing just to test the scalability. ETH has already tons of memecoins and so does ADA. I'm sure there are also on some that is unknown here but they do have their own community. Some of them are just airdropping on social media accounts.
The coin meme has no practical utility, but it works to promote adoption. It could be a market coin that offers no real value other than superstar manipulation. So far I don't own any memes. It is exaggerated with mockery of how they are made, it is ironic that they are giving the opportunity to be manipulated and abused by some rich people. Lol
Why invest on meme coin. When theres a lot of good token with great utility.
Simple DYOR is needed.
Try #LEOS
Simple DYOR is needed.
Try #LEOS
Simply because Meme coin has high volatility which can make small investors an instant rich or poor whichever comes first. Some of the Meme coin already prove this high volatility profitability like what happened to Doge, Shiba and Floki. Most the small investors that invest money on it got a huge profit if they hold until ATH.
This kind of proof what makes meme coin more popular on normal trader. In general meme coin is a useless coin and there's only small chance that you can buy profitable meme coin.
Conclusion: Meme coin is the Ponzi of crypto!
It's exactly the opposite.
MEME coins are basically a gateway drug for entering this space. Consider a friend of mine who was always asking me about DOGE and requesting that I give him a T.A.
. And, based on my observations, memecoime like DOGE or SHIB are the ones that grab the attention of my university friends for the ridiculous reason that it's their chance to buy a huge volume of stocks and wait for the price to climb before selling"
But, because to memecoins, people I know who previously had no interest in crypto have become aware of the opportunities and significant use cases that crypto has to offer. It's just that there are other people who got unlucky in this space.
MEME coins are basically a gateway drug for entering this space. Consider a friend of mine who was always asking me about DOGE and requesting that I give him a T.A.
. And, based on my observations, memecoime like DOGE or SHIB are the ones that grab the attention of my university friends for the ridiculous reason that it's their chance to buy a huge volume of stocks and wait for the price to climb before selling" But, because to memecoins, people I know who previously had no interest in crypto have become aware of the opportunities and significant use cases that crypto has to offer. It's just that there are other people who got unlucky in this space.
Meme coins have been in existence for a long time, they are community backed projects, meme coins aren't the faulty ones here all blame should be on devs that are copying meme coins because of types, if it was something else that Elin musk supported in 2021 many more shit coins will copy it's use case to make money.
Yeah, maybe giving some negative impacts on cryptocurrencies but anyway i am not fond of any meme coins.
Why invest on meme coin. When theres a lot of good token with great utility.
Simple DYOR is needed.
Try #LEOS
Simple DYOR is needed.
Try #LEOS
Meme tokens were good when there was only doge coin but after a huge pump on doge coin and the meme token ecosystem has become a very crazy ecosystem, bunch of scammers and so many victims. You must also remember that the best marketing ways to hear from people to give positive opinion about crypto to others and from this i wanna say that if meme tokens are hurting the ecosystem. So many money got stolen by scammers and this is also ruining the crytocurrency as well.
I think that's clear if meme token just like plague for the cryptocurrency.
I think that's clear if meme token just like plague for the cryptocurrency.
Giving bad impression yes, because there’s a lot of scam meme tokens and they victim a lot of newbies in this market that’s why they are not good in the market but of course we can’t do anything about it and just accept that meme tokens are also here to stay. Some are able to make money with meme tokens, while others are not its just that, meme tokens are seasonal and they can’t pump always.
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