Our attitude is always in a rush to get something in every aspect of life and that makes us have to invest in cryptocurrency with several shitcoins that don't necessarily exist, sowe get a lesson by understanding the reasons behind it.
Everyone who doesn't do their due diligence is going to learn their lessons in the hardest possible ways. If it won't be that much to them, for sure that the majority of them will be hurt with the amount of money that they're going to lose with it. That is why they need to deal with it when they are on that result because in the first place, they have always thought of thinking about rich quick, and if they fall to a scam, they'd feel bad about it. But those that are repeating their actions, I don't know what to say about them. 
Topic: People with quick rich attitude always mess up with alt coins (Read 1229 times)
I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
Your advice is quite prudent, specially in the volatile world of cryptocurrencies, it is crucial for investors to approach investment with the clear understanding of the factors driving the movement and underlying fundamentals. Investing in meme coin cryptocurrency which is very risky as such coins have no real life use case, think twice, conduct through research and make risk assessment before putting in your hard earned money in such projects.
yeah, this happens all the time, especially with meme coins. they even just pay attention to the charts for that. some of my friends who bought meme coins couldn't even sell the meme coins they had for several reasons. However, being an investor requires precision and patience. Therefore, research is very important before investing. Even the hype that is going on with bitcoin, very many ordinary people in my area are looking for how to invest in bitcoin when they hear that the price of bitcoin is really going high. They don't know that bitcoin has a large degree of volatility.
I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
Well thank you so much for your information actually this is my first time of hearing about this safemoon reason is because I don't always look at altcoins, is just like those new Investor's who rush into meme Investment due to the stories they heard about how those old investors made a huge profit from meme and also altcoins so after hearing this stories they will just rush out to invest, without even paying attention to those risk because they don't want to miss the opportunity, most of them end up experiencing lose in the market. however is very good to think twice before making any investment we shouldn't be carried away by what people are saying out there.
I agree with you. I thought about making cryptocurrency to protect the value of my money and not to make big profits in a short time. I know news about some people making huge profits from cryptocurrencies especially from shitcoins. But it's the same as gambling and someone hits the jackpot. So stop thinking about getting rich quickly from altcoins and think more realistically.
The most unfortunate thing is to join in imagining the hype when the meme coin is rising high and there are quite a lot of events that make traders suffer losses unless they put stoop loos, but mostly not at all.
Actually investing in any coin is okay as long as it is selective first and able to read the direction of market movements even though it is not too proficient. if it is short-term, it is better per week only the shortest in the time set, meaning enter the moment of price decline and let our asset become USDT by itself after the set sell numbers are made.
Our attitude is always in a rush to get something in every aspect of life and that makes us have to invest in cryptocurrency with several shitcoins that don't necessarily exist, sowe get a lesson by understanding the reasons behind it.
I agree with you. I thought about making cryptocurrency to protect the value of my money and not to make big profits in a short time. I know news about some people making huge profits from cryptocurrencies especially from shitcoins. But it's the same as gambling and someone hits the jackpot. So stop thinking about getting rich quickly from altcoins and think more realistically.
Our attitude is always in a rush to get something in every aspect of life and that makes us have to invest in cryptocurrency with several shitcoins that don't necessarily exist, sowe get a lesson by understanding the reasons behind it.
Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.
In crypto currency, people with a get rich quick mentality, are easy prey for scam.
Everyone that has that mentality are potential victims of these scams.In crypto currency, people with a get rich quick mentality, are easy prey for scam.
That's why they're being taken advantage and true that becomes a prey from these scammers. If they don't change for the better, the experience that they'll have from having this mindset will have them learned the hardest possible way.
So, you gotta get into the natural process of how it's like to earn not just from altcoins but also in real life and side hustles. It's a process that one has to be taken without rushing.
some random coins but instead invest in coin that has been listed in the market as far as I know thinking that in the upcoming bullrun it will double their initial investment which does make sense but sometimes some people are foolish enough to invest in something like meme coin with no real utility, no fundamental whatsoever and they expect more than 1000% increase which is silly. if you think about it.
after all majority of investment out there definitely not gonna give that much return but considering the fact that these meme coin and shitcoin investment are actually just some zero sum game then its possible that only if you are very lucky, otherwise be ready to lose money.
Well, not everyone will agree with you on this. There are some meme coins that have done more than 1000%, Shiba for example did very well though it is a meme coin.
The psychology of many investors, unfortunately, is organized in a similar way. They consider it futile to buy a coin that no one is talking about. At the same time, they are happy to immediately buy the coin that everyone in the crypto community is talking about. Only problem is, when everyone and everywhere is talking about a coin, it's a sure signal to sell your coins rather than buy them. A truly great investment is to buy when there is no hype yet, but without specialized knowledge and insider knowledge it is extremely difficult to get such signals.
Buying a coin without hype will be very doubtful, even though we have a strong fundamental analysis, I analyze and calculate the potential then buy the coin in a state not hype whose movements are very slow, instead it is increasingly doubtful that it will get a decent profit despite having a good fundamental from in terms of the project.And indeed it is very difficult to get information to be a hype or there will be a hype manipulation event, because the increase that is not thought is the increase that is manipulated.
Buying without hype shows that you are smarter than most, as you buy before the coin is pumped with liquidity. Buying any shitcoin without a hype does not mean that you have become smarter, the situation can be mirrored here. You will end up being stupider than those who didn't buy without the hype. In order to filter the right coins from the unnecessary ones, you need knowledge and analytics of the project. A strategy that consists of randomly investing the coin you like will not lead to anything good. You should buy exactly when no one is talking about the coin and sell exactly at the moment when everyone is talking about it. By the way, bitcoin investments also work according to this scheme.
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Most people are just too FOMO because of the hype of some coins that a bunch of people keep talking about. In fact, they are willing to enter at a high price in the hope that it will hit another high, but that is the end and time to get out and enjoy the profits. New people starting in because of the Hype want to try to make quick profits. Unspoken or unspoken coins are the best opportunity to enter, but it is quite difficult to find them, but not impossible. Altcoins that are already popular and are priced quite cheap can be an option. Like the DOGE hype that hasn't appeared yet, it could be that when Elon tweets about DOGE it will become hype and prices will continue to rise. It takes good research and observation to shoot one good altcoin that then gets hype.
Altcoins like DOGE are market-driven like other products. Trusting "hype" that wont last is dangerous. Understanding blockchain requires understanding its system and technologies. What about the coin's use, growth pace, ability to grow, security, and decision-making?
Unspoken currencies have potential, but not understanding the ecosystem is like diving into the water without knowing how to swim. Power comes from knowledge, not tweets.
I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.
Of course and that's why most people lay money into these worthless altcoins, some far belief that this is going to be the next coin that does 1000x or something. Whenever you try reading into these coins it's all overran by people talking pump and coin price. Little to no actual useful talk going on. Greed always kills, altcoin buyers especially.
it's not wrong if someone wants to get rich quick, but this needs to be understood. We don't need to rush into making decisions. things like this make the risk in our investments increase.
Also, don't get attracted to coins that have fast growth, however, in-depth research and forward analysis is an important point. we can invest in a coin whose price has increased by 100%, but we don't know why the price of the coin has increased, and what will happen in the future. people sometimes think it's going to happen again, and think they're going to be rich in no time, and end up rushing into investing.
Wanting to get rich quick is everyone's wish, however, I think this needs to be based on in-depth knowledge, analysis and research.
Also, don't get attracted to coins that have fast growth, however, in-depth research and forward analysis is an important point. we can invest in a coin whose price has increased by 100%, but we don't know why the price of the coin has increased, and what will happen in the future. people sometimes think it's going to happen again, and think they're going to be rich in no time, and end up rushing into investing.
Wanting to get rich quick is everyone's wish, however, I think this needs to be based on in-depth knowledge, analysis and research.
The psychology of many investors, unfortunately, is organized in a similar way. They consider it futile to buy a coin that no one is talking about. At the same time, they are happy to immediately buy the coin that everyone in the crypto community is talking about. Only problem is, when everyone and everywhere is talking about a coin, it's a sure signal to sell your coins rather than buy them. A truly great investment is to buy when there is no hype yet, but without specialized knowledge and insider knowledge it is extremely difficult to get such signals.
Most people are just too FOMO because of the hype of some coins that a bunch of people keep talking about. In fact, they are willing to enter at a high price in the hope that it will hit another high, but that is the end and time to get out and enjoy the profits. New people starting in because of the Hype want to try to make quick profits. Unspoken or unspoken coins are the best opportunity to enter, but it is quite difficult to find them, but not impossible. Altcoins that are already popular and are priced quite cheap can be an option. Like the DOGE hype that hasn't appeared yet, it could be that when Elon tweets about DOGE it will become hype and prices will continue to rise. It takes good research and observation to shoot one good altcoin that then gets hype.
it's not wrong if someone wants to get rich quick, but this needs to be understood. We don't need to rush into making decisions. things like this make the risk in our investments increase.
Also, don't get attracted to coins that have fast growth, however, in-depth research and forward analysis is an important point. we can invest in a coin whose price has increased by 100%, but we don't know why the price of the coin has increased, and what will happen in the future. people sometimes think it's going to happen again, and think they're going to be rich in no time, and end up rushing into investing.
Wanting to get rich quick is everyone's wish, however, I think this needs to be based on in-depth knowledge, analysis and research.
Also, don't get attracted to coins that have fast growth, however, in-depth research and forward analysis is an important point. we can invest in a coin whose price has increased by 100%, but we don't know why the price of the coin has increased, and what will happen in the future. people sometimes think it's going to happen again, and think they're going to be rich in no time, and end up rushing into investing.
Wanting to get rich quick is everyone's wish, however, I think this needs to be based on in-depth knowledge, analysis and research.
The psychology of many investors, unfortunately, is organized in a similar way. They consider it futile to buy a coin that no one is talking about. At the same time, they are happy to immediately buy the coin that everyone in the crypto community is talking about. Only problem is, when everyone and everywhere is talking about a coin, it's a sure signal to sell your coins rather than buy them. A truly great investment is to buy when there is no hype yet, but without specialized knowledge and insider knowledge it is extremely difficult to get such signals.
Buying a coin without hype will be very doubtful, even though we have a strong fundamental analysis, I analyze and calculate the potential then buy the coin in a state not hype whose movements are very slow, instead it is increasingly doubtful that it will get a decent profit despite having a good fundamental from in terms of the project.
And indeed it is very difficult to get information to be a hype or there will be a hype manipulation event, because the increase that is not thought is the increase that is manipulated.
it's not wrong if someone wants to get rich quick, but this needs to be understood. We don't need to rush into making decisions. things like this make the risk in our investments increase.
Also, don't get attracted to coins that have fast growth, however, in-depth research and forward analysis is an important point. we can invest in a coin whose price has increased by 100%, but we don't know why the price of the coin has increased, and what will happen in the future. people sometimes think it's going to happen again, and think they're going to be rich in no time, and end up rushing into investing.
Wanting to get rich quick is everyone's wish, however, I think this needs to be based on in-depth knowledge, analysis and research.
Also, don't get attracted to coins that have fast growth, however, in-depth research and forward analysis is an important point. we can invest in a coin whose price has increased by 100%, but we don't know why the price of the coin has increased, and what will happen in the future. people sometimes think it's going to happen again, and think they're going to be rich in no time, and end up rushing into investing.
Wanting to get rich quick is everyone's wish, however, I think this needs to be based on in-depth knowledge, analysis and research.
The psychology of many investors, unfortunately, is organized in a similar way. They consider it futile to buy a coin that no one is talking about. At the same time, they are happy to immediately buy the coin that everyone in the crypto community is talking about. Only problem is, when everyone and everywhere is talking about a coin, it's a sure signal to sell your coins rather than buy them. A truly great investment is to buy when there is no hype yet, but without specialized knowledge and insider knowledge it is extremely difficult to get such signals.
Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.
In crypto currency, people with a get rich quick mentality, are easy prey for scam.
Everyone that has that mentality are potential victims of these scams.In crypto currency, people with a get rich quick mentality, are easy prey for scam.
That's why they're being taken advantage and true that becomes a prey from these scammers. If they don't change for the better, the experience that they'll have from having this mindset will have them learned the hardest possible way.
So, you gotta get into the natural process of how it's like to earn not just from altcoins but also in real life and side hustles. It's a process that one has to be taken without rushing.
some random coins but instead invest in coin that has been listed in the market as far as I know thinking that in the upcoming bullrun it will double their initial investment which does make sense but sometimes some people are foolish enough to invest in something like meme coin with no real utility, no fundamental whatsoever and they expect more than 1000% increase which is silly. if you think about it.
after all majority of investment out there definitely not gonna give that much return but considering the fact that these meme coin and shitcoin investment are actually just some zero sum game then its possible that only if you are very lucky, otherwise be ready to lose money.
Not at all people rich messed up with alt coin cause altcoin has value too. this become alternative on main bitcoin or as just for cheap transaction only.
Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.
In crypto currency, people with a get rich quick mentality, are easy prey for scam.
It's natural to have that mentality and humans of the crypto space are no exception. There will be some scammers always trying to take advantage of this situation and prepare their own traps which have come from the days of HYIP/MLM to memecoins. This problem needs to be identified by every budding trader and taken care of so they don't lose money in them.In crypto currency, people with a get rich quick mentality, are easy prey for scam.
I would emphasize that it is not all who are having this mentality but those who are having a limited budget and have a get rich quick thought process not willing to settle for a fractional amount of Bitcoin usually end up with altcoins.
It is normal to have dreams and expectations on life. Everyone desires to be wealthy and be financially independent, but these mustn't be achieved by trying to cut corners or act too smart.
Getting rich quick mentality might make one take unnecessary risk when it comes to investing.
Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.
In crypto currency, people with a get rich quick mentality, are easy prey for scam.
It's natural to have that mentality and humans of the crypto space are no exception. There will be some scammers always trying to take advantage of this situation and prepare their own traps which have come from the days of HYIP/MLM to memecoins. This problem needs to be identified by every budding trader and taken care of so they don't lose money in them.In crypto currency, people with a get rich quick mentality, are easy prey for scam.
I would emphasize that it is not all who are having this mentality but those who are having a limited budget and have a get rich quick thought process not willing to settle for a fractional amount of Bitcoin usually end up with altcoins.
Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.
In crypto currency, people with a get rich quick mentality, are easy prey for scam.
I agree with you, the mentality of getting rich quickly, excessive greed, and lack of knowledge and sufficient experience and research is what makes most investors, especially beginners, from losing their capital either in meme coins, scam rugpull coins, or in new altcoins that do not have an expert team, and the idea of its project is imitated and not unique. and the end for these investors to mess around or get lost and retire from investing in altcoins. There are many opportunities and hidden gems in altcoins. Still, it requires experience in technical and fundamental analysis, patience, thinking, studying the currency project, and seeing reviews and recommendations from experts without rushing and doing anything reckless.In crypto currency, people with a get rich quick mentality, are easy prey for scam.
They don't understand the system which is actually a trap because they are only focused on instant profits under the pretext of DYOR which makes it even more complicated for new people who in the end when they experience losses then will blame the whole by saying that crypto is a scam but if you look closely things like this happen because of their own actions.
It is difficult to realize people like this because they only do naive nature that only wants something instant but does not have a high desire to learn something properly and does not want to learn from previous mistakes.
Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.
In crypto currency, people with a get rich quick mentality, are easy prey for scam.
I agree with you, the mentality of getting rich quickly, excessive greed, and lack of knowledge and sufficient experience and research is what makes most investors, especially beginners, from losing their capital either in meme coins, scam rugpull coins, or in new altcoins that do not have an expert team, and the idea of its project is imitated and not unique. and the end for these investors to mess around or get lost and retire from investing in altcoins. There are many opportunities and hidden gems in altcoins. Still, it requires experience in technical and fundamental analysis, patience, thinking, studying the currency project, and seeing reviews and recommendations from experts without rushing and doing anything reckless.In crypto currency, people with a get rich quick mentality, are easy prey for scam.
Yea. Imagine a project promising a APY of over 600,000%; invest 1000$ and get 600,000$ and yet people will be jumping into it without caring to know where the Dev intends to get these money from. And in most cases, they always end up defrauding them. This is just a singular case of a get rich quick scheme. There are so many out there.
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