Topic: Meme coins have no use case - page 3. (Read 608 times)
I just cannot imagine myself investing on such coins. I have been in this industry since 2016 and I have seen many sorts of shitcoins and scams but I have never seen a huge number of dumb people investing on not just one but several shitcoins altogether without even considering their choices. What's worse is that they even have the audacity to get pissed off when you show some care and try to guve them advice. What a phase for crypto this year is. I would rather have a slow market than a market being swayed just by a few tweets from a single person.
Meme coins are useless indeed and do not hold intrinsic value, but they might be the way for some people to get rich. That's why people are attracted to them.
We must understand that most of us are not in crypto because of the technology, but because of the returns. However there is a catch to this. Retail investors who are not versed into the investing world get caught in the risk-return fallacy. Many people lose money. Even if you have had some random success, if you do not have a winning methodology to find promising projects that actually have a future you are doomed to lose money in the end. At least in my opinion speculating on meme coins is a gambler's game and should not be the activity of a serious investor.
We must understand that most of us are not in crypto because of the technology, but because of the returns. However there is a catch to this. Retail investors who are not versed into the investing world get caught in the risk-return fallacy. Many people lose money. Even if you have had some random success, if you do not have a winning methodology to find promising projects that actually have a future you are doomed to lose money in the end. At least in my opinion speculating on meme coins is a gambler's game and should not be the activity of a serious investor.
many people's supported those meme coin, shiba inu is massive community, for that it's listed on binance exchange based on users vote and it's built as a doge killer. i see another a new project goma shiba inu which inspired by shiba inu.
i think there are no vision in the future, who thinking how to rich in overnight just they invest for those project.
i think there are no vision in the future, who thinking how to rich in overnight just they invest for those project.
Meme coins are created in order to make money and as you can see recently a lot of various meme coins have appeared in which people invest a lot of money because investors want to make money by investing in meme coins, but the fact is that now there is a hype around meme coins and when the hype will go down, almost all these meme coins will die and investors will lose a lot of money, so before investing in meme coins, you need to remember about the huge risks of losing your money.
Thailand has a say about the meme coins and I think they're the first one to remove them from exchanges outrightly.
(https://www.engadget.com/thailand-bans-meme-coins-nft-113518980.html)
Other than meme coins, they've also commanded to remove NFTs and other exchange tokens. With that law that they've made, they're trying to remove the manipulation that might put their citizens into it.
(https://www.engadget.com/thailand-bans-meme-coins-nft-113518980.html)
Other than meme coins, they've also commanded to remove NFTs and other exchange tokens. With that law that they've made, they're trying to remove the manipulation that might put their citizens into it.
The growth of coin memes stemmed from the hype of Elon Musk. Doge started moving and making huge profits, other coin memes were formed and attracted people's interest. A wave of meme coin investments is underway.
Overall, the market is in a bull market so all altcoins have movement, so money flows through more cryptos.
If another bear cycle occurs, will we still see meme coins next bull run? I think most likely not.
Overall, the market is in a bull market so all altcoins have movement, so money flows through more cryptos.
If another bear cycle occurs, will we still see meme coins next bull run? I think most likely not.
but some people might ignore this because they are looking for profit and not too focused on developing a project or their quality in the long term because their target might be to make profit from any kind of coins.in a short or long time essentially they see the project in a different way.
Yes, for example DOGE some time ago, lucky people will be very lucky before starting to tweet and the phenomenon, then he realizes that it won't last long and sells it when the price is high, it all goes back to each person's goal in assessing a project .
No use case but then meme coins has been patronized by most of the investors thst is why they tend to survive until now. Its all about how active that trading volume, if they tend to have high trading volume even if they dont have a use case and been recognized as a good coin for trading, then it can still be useful for crypto market.
Yes, but you have to understand where they are coming from, the 'patronized" it to make profit and not because it has use case or something unique to offer in the market. That's why we really need to be very careful specially if we are a newbie because we might tend to get suckered by it and then get trap and the only way to get out is to loss our hard earn money. Or simply put, majority of meme coins are used for pump and dump scheme. 
That is the bitter truth behind the Meme coins. Once the Doge started to go up (when someone tweets), people started to think that it may easily go pass the BNB and even Ethereum. With that hype, people started to create more and more meme coins, which do not even have any use case. As it started to collapse, they became worthless pieces of assets and I do not think anyone would invest further on such coins which do not have a proper case at any means.
If you just search for meme coins then you will find a bunch of them trading in the market at this time which have no utility in the future and some of them are very popular due to people being convinced that they will yield good returns in long as well as short term.This was all temporary and market was under manipulation which pumped these shitcoins upwards but not for long.Such as doge,shiba,kishu,cumrocket,SafeMoon which according to me will serve no purpose for investors in long term.So stop investing in them for no reason as profit will not be made with them if you are not new to this crypto market you better know this.You can not guarantee your funds as not many nodes are running behind them and some are fully centralized currency so better to be safe with potential coins. 
Meme coins can have a use case depends on the developer's roadmap.
Most of the time those roadmaps are rather foolmaps which they will never follow or work towards achieving.Just, for example, a dogecoin can be developed into a more useful one but sadly developers are quite lazy to do something about it.
The problem is that they cannot change the specification of the coin and without changing that you cannot create any real use-case from dogecoin really. I heard that Elon Musk is aiming to work with doge developers but not sure if he actually means it.Meme coins are named as such because they are created cheaply for everyone to own a massive amount without spending too much while the coin offers no value and is totally based on the hype that can be created.
Looks like it turned out right for Meme coins, market is very bearish right now for Meme coins.
Considering only to buy a useful projects has better chances and potential.
That is the real worry when you buy meme-coins. You don't know if the bear run has started or the meme hype is over and it's time to sell the coins. If you invest in a legit project at least you know the project is yet to launch and even if the bear run is causing the crash, it should be recovered well once the project launches. Considering only to buy a useful projects has better chances and potential.
Some people do well but it’s a minority really & you really do risk losing everything with these type of investments. Stick to bitcoin & other established alts rather than risking with meme coins.
Some people will always do well even during the bear runs and yes most of the time the creator/owner of these meme-coins are the ones with the highest profit and from whose pocket it goes? Those who buy these meme-coins without actually knowing when to sell.There is no problem trading these meme coins but only the sharpest traders will benefit and if you are holding meme coins, you better stop trading.
I fully agree with you on this issue. Just before investing we need to understand that not all promising projects will bring profit and those that will bring profit will most likely not give it soon and this is normal. Quick profits tend to turn into even faster losses that most likely will never recover.
that's true, i am hold project with high quality usecase and product but unfortunately its price still lower than shitcoins in market. looks like investors or traders want quick profit by joining on pump and dump coins. although high quality project, but when its price dumped , holder easily panic . meanwhile in shitcoin , when they see price dump for them its good opportunity.
I fully agree with you on this issue. Just before investing we need to understand that not all promising projects will bring profit and those that will bring profit will most likely not give it soon and this is normal. Quick profits tend to turn into even faster losses that most likely will never recover.
~
Sad, but you cannot stop people from buying from your second point.Hype yields them quick profit and they would not even care nonetheless of how the coin becomes in the future and so.
Some just wants to crap around crypto space and you cannot avoid them just like how some "joke" businesses pop up these days trying to be "meme-ish" from the trends.
No use case but then meme coins has been patronized by most of the investors thst is why they tend to survive until now. Its all about how active that trading volume, if they tend to have high trading volume even if they dont have a use case and been recognized as a good coin for trading, then it can still be useful for crypto market.
some Fomo people are so hype about this coin because they are so confident in backing up a billionaire without them realizing the dangers that lie behind them.
I think they are now regretting what they did to glorify this meme coin
I think they are now regretting what they did to glorify this meme coin
The hype makes them think that whatever the cost of their loss will be, it will automatically be recovered if those big-time investors put their money on those coins, and guess what? none of that has happened. Some people already get some decent amount of income but those who came, at last, are the ones who lost too much of their investment. Most of the time if they already finished with their pump and dump plan they will create another one and create another hype just like the last one. everyone should learn and not trust such hype anymore.
If we want a quick profit we have to agile in this kind of volatile market like crypto. Meme coins could easily pumped hard even the coin has no future plan at all. The internet was already spreaded around the world and the information can spread to all around the world in seconds. So we have to be so agile if we want to survive in this market, or we just holding a good fundamental coins for a long time investment
If I wanted to be sure of the investment I'd rather be holding good fundamental coins with use cases for a long-term investment. With Dogecoin, you will have to be watching all the time its chart and read what is going on in the community seeking if there is a sign of dismay. You just can't see the signs like how Vitalik dumping Shib tokens, you wouldn't be able to know this ahead of time.
Even after reading this post, people will buy doge out of greed. I think until people lose money, they will not think about the futility of this investment
thats the point, these newly made meme coins are made simply to get all those greedy people into the market to become victim, these kind of greedy people whothink they could make millions are usually the one that make such haste and bad decision making them trapped and gets into the FOMO.
See how many people are angry at elon when doge goes under after elon try to shake the crypto market, so many people are actually insulting him because
the market didn't go up when they just got in while in reality, they are too late and they are the victim of fomo because too greedy.
If we want a quick profit we have to agile in this kind of volatile market like crypto. Meme coins could easily pumped hard even the coin has no future plan at all. The internet was already spreaded around the world and the information can spread to all around the world in seconds. So we have to be so agile if we want to survive in this market, or we just holding a good fundamental coins for a long time investment
Memecoins may become the next shitcoins because they exist because of the Hype only.
Well, the only thing we can utilize from this coin is only trading for a short-term period and we must be wise and smart in deciding the right time to buy and also the right time to sell. Once that coin has risen up and has reached the target, it is better to take profits. however, if you are really not sure about the chance, it is very better to avoid this kind of token. That is too risky.
Well, the only thing we can utilize from this coin is only trading for a short-term period and we must be wise and smart in deciding the right time to buy and also the right time to sell. Once that coin has risen up and has reached the target, it is better to take profits. however, if you are really not sure about the chance, it is very better to avoid this kind of token. That is too risky.
Jump to: