People with quick rich attitude always mess up with alt coins - page 10.

Jackl87

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Quote from: krishnaverma on May 10, 2023, 10:56:31 AM

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.

At the moment it seems like a lot of attention in the altcoin market is going to all those stupid meme-coins that are launching each and every day. Until a few weeks ago i was off the opinion, that the whole meme-coin hype is dying slowly but surely because after ShibaInu there was not really a big meme-coin since. Now PEPE came pretty much out of nowhere and that stupid meme-coin hype is revived again it seems, which is a shame in my opinion because i think it is harmful for the crypto-market as a whole because it takes away attention and of course also cash from the "real" projects that are actually trying to do something.

blockman

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They'll learn the lesson eventually if they keep on doing that. Having that mindset and doesn't change it will make them feel that there's something wrong when they've just keep on losing again and again. It's a cycle that's repetitive and they will only realize it when they see that they're no longer progressing with this attitude and strategy.

Quote from: krishnaverma on May 10, 2023, 10:56:31 AM

But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.

True to that, when someone allows greed to get inside of his head. Well, every project that they will see as some sort of pump and dump, they'll have hard time of avoiding it and instead, they'll be optimistic towards it.

TheUltraElite

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The quick rich attitude always fails in every aspect of life, not just investing in cryptocurrency.

While there are people who are inattentive and attention deficit, there are these people investing and in many aspects they are similar. One can go to coinmarketcap and see which coin has the maximum percentage rise in the last 24hours and they will obviously find some shitcoin that they never heard of existed.

Such coins are a huge manhole to step in, because they are essentially being pumped and going to dumped, waiting for small fries to get their hands on them.

krishnaverma

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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.

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