One thing for sure, hype. It is the best thing to happen to make a shit coins to be a big hit in the early life of the coins, give the big money for the team, and left us with useless piece of internet coins in the future that doesnt have any value.
Hype kills, so check the fact before you jump in, and be brave to take the risk if something bad happens.
Topic: How did you end up with shit coins? - page 15. (Read 21172 times)
I dont buy coins rather i just participate in bounty campaigns, signature campaigns and earned shit coins, whose whitepaper, team and everything was good. Initially the listing of the coin price was good but the prospectus of the coins was given high and i did not sold it and now it end up to zero. You can tell one way as greediness made me loss.
I think a lot of people end up buying coins because of the pump. They are assuming that it will happen again and they waited until the coin goes back to its original price. A few months after they bought it, the coin ended up being a shitcoin. That is why I never buy a coin if the hype is already pass because it will be hard for the coin to repeat it again. Not unless it is a top tier coin like Ripple.
Answer on the survey:
Pump & dump scheme gone awry
Answer on the survey:
Pump & dump scheme gone awry
The big problem is that at the stage of purchase it is not always possible to determine the potential of the coin. Too many mistakes we make. The market is open to fraudsters and it is not always possible to determine them at the very beginning ..
I'll personalize this response. I've ended up with shitcoins as the result of the following;
1. Airdrops: Once upon a time I was crazy about airdrops, thinking they'll be the next Hydro or Ontology whose airdrops made a lot of sense in terms of their worth. So I signed up for almost any airdrop I cam across, one of my MEW is hodling tons of shitcoins from airdrops which never amounted to nothing
2. ICO Investments without due diligence: When I was new into the space, I straight up invested in a few ICOs. Some of them turned to be good and some turned out really bad, invested in projects like JET8, Elementh, etc. These to me are straight up scam projects as I've come o realize. Now I have tokens from these projects in my wallet, and their value is almost dust.
1. Airdrops: Once upon a time I was crazy about airdrops, thinking they'll be the next Hydro or Ontology whose airdrops made a lot of sense in terms of their worth. So I signed up for almost any airdrop I cam across, one of my MEW is hodling tons of shitcoins from airdrops which never amounted to nothing
2. ICO Investments without due diligence: When I was new into the space, I straight up invested in a few ICOs. Some of them turned to be good and some turned out really bad, invested in projects like JET8, Elementh, etc. These to me are straight up scam projects as I've come o realize. Now I have tokens from these projects in my wallet, and their value is almost dust.
I am working on an article about how smart people ended up buying shitcoins – I need some info on why you bought shitcoins (if any). If you choose "other" then can you care to comment on what that other means? Would appreciate if you helped me get an insight!
Thanks in advance.
There is no option for "get screwed by the exchange". I had a lot of nano (back when it was not named nano) and had a lot of it on bitgrail and it was going strong, I got in at around 14 dollars per coin and it went all the way upto 34 dollars or something like that which means I made more than double of my initial investment but than bitgrail decided to ban people from withdrawing their money without providing information of themselves which I never do and hate doing so I will never opt for that however they decided they will keep your money if you do not do what they ask you to do. I barely got 70% of my money back and that was after all of this was done which made it much lower for the coin and not its friction of what it used to be. Thanks in advance.
Only a handful responded - Others not willing to accept that they purchased shitcoins or they were lucky? Common folks it does not hurt to to be honest!
You could have included Airdrop and bounty campaign, most especially airdrop campaign, they are the father of all shit coins, so many shit coins coming in from airdrop, so many of my colleagues producing more than 50 airdrop forms on a daily, most of them are dead on arrival.
Mislead by some friends I was asked to buy the coins and I did nothing research on my shift I just trusted my friends and at the end I ended up with nothing I lost everything.
I would suggest you all that you should take your own step because its your own money and if you loss you loss no one else in that so please try to invest with complete search and findings.
I would suggest you all that you should take your own step because its your own money and if you loss you loss no one else in that so please try to invest with complete search and findings.
Most shitcoins do not have good and working products and some do not even have any. When this happens, the only thing the coin is left with is hype which is more of FOMO. Some might feel the coin will continue to grow due to increased hype, which will cause increased demand.
So most times in this case, most people will not bother to even do any research on it. Rather they will just buy for them to to also cash out their profit.
So most times in this case, most people will not bother to even do any research on it. Rather they will just buy for them to to also cash out their profit.
The reason is only in speculation. If a person has a small amount of money, he can risk it and earn 10 or 30 times more. Not one top coin will not give such a result. But if you have a large amount of money, then naturally you will not risk investing money in a shit token. Another reason is greed.
This is not an investment, it is short-term speculation. Nobody believes in these tokens, so they fall 20 or 30 times. Only speculation.
This is not an investment, it is short-term speculation. Nobody believes in these tokens, so they fall 20 or 30 times. Only speculation.
I got a load of shit coins because I got caught up in a FOMO mentality when a coin was going nuts in the market and in the news. Everyday I was always checking up to it and it was like I think it would be also good if I invest in it then the tides turned and down it go.
Dude, it was hard to choose just one. I ended up bagholding with all of this scenarios, and I think most of the newbies first lose money like that and only after that start to learn!
I am working on an article about how smart people ended up buying shitcoins – I need some info on why you bought shitcoins (if any). If you choose "other" then can you care to comment on what that other means? Would appreciate if you helped me get an insight!
Thanks in advance.
Thanks in advance.
I do buy shitcoins. But they form just a little part of my crypto portfolio. The only reason I do this is that shitcoins with their low prices can be pumped someday very heavily and you can profit a lot just buy holding them and waiting for such a situation. Or you can organize such a pump yourself if you have enough funds or counterparts.
I wonder on how many do really read whitepapers, I just most don't.
I just end up with the wrong coin because I had enough money to buy it and I think that diversifying with those is going to be amazing. But I was wrong, its a mistake and a lesson learned from me but at least charge to experience.
I just end up with the wrong coin because I had enough money to buy it and I think that diversifying with those is going to be amazing. But I was wrong, its a mistake and a lesson learned from me but at least charge to experience.
I will confess here that i did made some very wrong investments last year that resulted in shitcoins and immense losses i think it was due to good market last year and i was making good profit from other investments so i did less research on each project and invested after taking superfacial look that has costed me much but now i have become very careful and selective about new investments.
Mostly back in the days when I was still day-trading on Bittrex so I would observe high gainers and where is the high concentration of people jumping on the pump train. It was not a PnD scheme per se, just large spikes that could be predicted sometimes. So yes, on some occasions I got stuck with a bag full of shitcoins because my spike predictions were not on point.
We bought a coin, were led to a very active chat in telegrams and good volumes on the exchange. Without carefully reading, due to inexperience, even what the project is about) this is a personal experience.
Several people I knew bought coins because of hype up and an abundance of news about cryptocurrencies, last December-January. At a fairly high price. having no experience in trading and generally with zero knowledge about the field of cryptocurrency. someone sold at a loss decent, someone is now forced to sit on the long-term with their coins and waiting for market warming)
Several people I knew bought coins because of hype up and an abundance of news about cryptocurrencies, last December-January. At a fairly high price. having no experience in trading and generally with zero knowledge about the field of cryptocurrency. someone sold at a loss decent, someone is now forced to sit on the long-term with their coins and waiting for market warming)
Well, I have bought 20k PRiVCY on 200 satoshi and participated in airdrop and got more. I sold at 400 satoshi which returned me some easy money. That's it. You can get some profit by investing in airdropped coin. Also, I would hold if alt market was stable cause soon there will be hype with a couple of persons who are still holding the most coins.
Shitcoin is just for pump and dump for me, so i never buy it, im just buying ico token/coin in bear condition, in this month ive buying 3 token that already lose 95% value from its ico price, and i just wait till the price back to ico price again, its more profitable for me rather than buying shitcoin
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