Everyone and their mother is buying "cheap" penny coins, alarming analysis..?

Wunderkind

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Activity: 134

Merit: 10

Quote from: Ektra on January 06, 2018, 08:44:46 AM

Quote from: Wunderkind on January 04, 2018, 09:33:13 PM

Quote from: TERA2 on January 04, 2018, 09:13:23 PM

You cant fight it. Just try to profit from it.

I might as well buy any coin under a dollar without doing any research at this point.

Haha I know some people like this, try and explain about number of coins, market caps and distribution and you get a blank stare, then they continue going on abou how whatever coin is a great buy purely because of the nominal price. Pure dumb money, the market giveth to the lucky ones, but eventually it shall taketh away...

I know right! I still believe in the saying that smart money will win in the end.
But at this point I'm starting to wonder if it's smart to not invest in all these shitcoins 😆

Ektra

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Activity: 137

Merit: 106

Quote from: Wunderkind on January 04, 2018, 09:33:13 PM

Quote from: TERA2 on January 04, 2018, 09:13:23 PM

You cant fight it. Just try to profit from it.

I might as well buy any coin under a dollar without doing any research at this point.

Haha I know some people like this, try and explain about number of coins, market caps and distribution and you get a blank stare, then they continue going on abou how whatever coin is a great buy purely because of the nominal price. Pure dumb money, the market giveth to the lucky ones, but eventually it shall taketh away...

TERA2

full member

Activity: 266

Merit: 222

Deb Rah Von Doom

Quote from: Wunderkind on January 05, 2018, 12:49:25 PM

Quote from: filharvey on January 05, 2018, 11:57:42 AM

I think that buying such cheap coins blindly would not benefit all the time.More probability is that they could crash.Instead,if they do analysis and find the most under valued coin and invest in it,that would yield much profit.

I've always believed in investing in the fundamentals and positive potential of a coin/company.
It has worked out thus far, but sometimes it gets annoying when you see someone put money into something blindly and get a 20x return lol.

I do a combination of holding things with potential and trading things both with and without potential. For instance I tripled my coins trading dogecoin just because I saw it breaking the ichimoku cloud. But now I'm out and no longer holding dogecoins...

Omega Weapon

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Quote from: dothebeats on January 05, 2018, 08:46:38 AM

Let them be; it's their money on the line and not ours initially. Besides, what happens to their money may serve a greater purpose on their trading careers: not all cheap, penny coins are worth the risk and money. Assessing whether these coins are better to invest at or not would also be their concern in the near future proving that they'd learn from their mistakes. True that these cheap ass coins provide huge room for profits, but then again, what are the real-world benefits of these coins if they are left holding their bags?

Correct, if people want to throw their money at useless tokens who we are to stop them, if possible try to take advantage of the situation, now I do not feel comfortable investing in those coins, however the more people invest in those coins the longer bitcoin remains at the current prices, so you could see them as if they are buying us time, then when bitcoin begins to move up again they are going to move their money to bitcoin as well and we get profits as a result.

Wunderkind

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Activity: 134

Merit: 10

Quote from: filharvey on January 05, 2018, 11:57:42 AM

I think that buying such cheap coins blindly would not benefit all the time.More probability is that they could crash.Instead,if they do analysis and find the most under valued coin and invest in it,that would yield much profit.

I've always believed in investing in the fundamentals and positive potential of a coin/company.
It has worked out thus far, but sometimes it gets annoying when you see someone put money into something blindly and get a 20x return lol.

2xbit

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Activity: 120

Merit: 11

Great info! Thanks guys!

filharvey

hero member

Activity: 866

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I think that buying such cheap coins blindly would not benefit all the time.More probability is that they could crash.Instead,if they do analysis and find the most under valued coin and invest in it,that would yield much profit.

Denker

legendary

Activity: 1442

Merit: 1016

Yeah this is total madness at the moment.
All these guys know nothing about crypto! And most of these new coins/tokens also have nothing to do with crypto, in terms of ideology.
These shit tokens just get created to make the founders rich quick. That's it.
95% will get vanished. Just a question of time.
But I would definitely like Bitcoin seeing denominated in bits now. I'm fully supporting Jimmy Song's proposal in that case.

fabiorem

sr. member

Activity: 1400

Merit: 347

Quote from: TERA2 on January 04, 2018, 09:13:23 PM

You cant fight it. Just try to profit from it.

This.

audaciousbeing

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Activity: 1330

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Quote from: Wunderkind on January 04, 2018, 09:33:13 PM

Quote from: TERA2 on January 04, 2018, 09:13:23 PM

You cant fight it. Just try to profit from it.

I might as well buy any coin under a dollar without doing any research at this point.

The only conclusion on this talks about cheap coins that makes it seems like the right way to go, is that just in my earlier posts, majority of people are buying not because they love the project but because of the pump and dump involved and more so the amount of money involved is something they can quickly let go without affecting their wallet one but but little did they know that that little loss of yours multiplied by the number of people making such ignorance decisions across the world makes some developer at the back of his computer, a young millionaire.

For those of us who have felt the brunt of all this coins here and there we know better than to just add to the wealth of some dude far away in the other part of the world. Just like the earlier poser said, you can't beat it, try to profit from it. If not, learn your lesson and move on.

Torque

legendary

Activity: 3710

Merit: 5286

Quote from: thejaytiesto on January 05, 2018, 09:06:03 AM

This game is filled with complete retards. I have to see in forums day after after day endless idiots shilling their scamcoin tokens claiming how Bitcoin is dead because it's too slow and cheap, which is a valid critique, if it wasn't for the case that while claiming that, you are selling me a total fucking shitcoin that solves none of the problems Bitcoin has and unlike Bitcoin, couldn't be used a censorship resistant store of value.

You mean like how a penny stock company that is making a new social networking app couldn't easily take over Facebook's #1 dominance in just a week or two?

Color me shocked! /s

thejaytiesto

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Activity: 1358

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Quote from: Wunderkind on January 04, 2018, 09:07:32 PM

So I and most likely many others have noticed that in the past couple of months, everyone and their mother seems to want to buy every "cheap" coin that's on the market.
The masses, all these people, invest with little to no knowledge and think coins that are worth $0.10 could very well go to $100. These people have no idea what a market cap is.
Even if these penny coins have a market cap of $1 trillion, they would still want to buy these coins and still think they're cheap.

This game is filled with complete retards. I have to see in forums day after after day endless idiots shilling their scamcoin tokens claiming how Bitcoin is dead because it's too slow and cheap, which is a valid critique, if it wasn't for the case that while claiming that, you are selling me a total fucking shitcoin that solves none of the problems Bitcoin has and unlike Bitcoin, couldn't be used a censorship resistant store of value.

Number of coins I've seen people telling me they are going take Bitcoin #1's spot last year:

-Maidsafe
-Litecoin
-Ethereum
-Monero
-Ripple
-IOTA
-EOS
-Bitcoin Cash
-Hashgraph
-RailBlocks (this is the latest addition)

Seriously guys, fuck off, none of these projects cut it. And yes, I value the effort, and yes, it got some interesting stuff on them, but stop pretending you are going to be #1. I mean maybe Ripple gets at #1 at this point, but it's irrelevant, it's still a scamcoin. Enjoy the pumps while they last.

hisslyness

hero member

Activity: 735

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Can't wait to see how much dividend people will receive from owning XRP centralised coin! I mean Ripple is a 200B+ company!

dothebeats

legendary

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Merit: 1352

Cashback 15%

Let them be; it's their money on the line and not ours initially. Besides, what happens to their money may serve a greater purpose on their trading careers: not all cheap, penny coins are worth the risk and money. Assessing whether these coins are better to invest at or not would also be their concern in the near future proving that they'd learn from their mistakes. True that these cheap ass coins provide huge room for profits, but then again, what are the real-world benefits of these coins if they are left holding their bags?

davis196

hero member

Activity: 3150

Merit: 937

Dumb investors deserve to lose their money.It doesn`t matter if it`s penny coins or penny stocks,such investments are not trading,they are gambling,or in the best case scenario,they`re like buying lottery tickets.
You should change the title.Nobody`s mother is that stupid.Old people don`t invest in cryptocurrencies.They just go to Las Vegas and spend their savings there. Grin

Toxic2040

legendary

Activity: 1820

Merit: 4185

Quote from: Wunderkind on January 04, 2018, 09:33:13 PM

Quote from: TERA2 on January 04, 2018, 09:13:23 PM

You cant fight it. Just try to profit from it.

I might as well buy any coin under a dollar without doing any research at this point.

Pretty much..and coins valued under a few hundred satoshi seem to be a real bargain. They blow up to 6500 sats easily. Not sure how long it will last but I have no problem taking profits when I can. Cool

Wunderkind

member

Activity: 134

Merit: 10

Quote from: TERA2 on January 04, 2018, 09:13:23 PM

You cant fight it. Just try to profit from it.

I might as well buy any coin under a dollar without doing any research at this point.

TERA2

full member

Activity: 266

Merit: 222

Deb Rah Von Doom

You cant fight it. Just try to profit from it.

Wunderkind

member

Activity: 134

Merit: 10

So I and most likely many others have noticed that in the past couple of months, everyone and their mother seems to want to buy every "cheap" coin that's on the market.
The masses, all these people, invest with little to no knowledge and think coins that are worth $0.10 could very well go to $100. These people have no idea what a market cap is.
Even if these penny coins have a market cap of $1 trillion, they would still want to buy these coins and still think they're cheap.

After observing coins for the past months I've noticed it's almost always coins that are under a dollar (or a few) that rise the most.
I believe this is just a lot of "dumb" money (read: invest without research) pouring, following the pumps, following the next penny coin that will go up 10000%...

At what point will these coins with little real world value come crashing down? Will they all just keep going and going? Hell, will BTC get surpassed by penny coins such as XRP?
It's alarming to see. Feel free to share thoughts.

Also take a look at some of these charts, created by Reddit user JKadsderehu (source).

Top 100 CMC coins by price:

Top 100 CMC coins by circulating supply:

Top 100 CMC coins by market cap:

Topic: Everyone and their mother is buying "cheap" penny coins, alarming analysis..? (Read 299 times)