Topic: People with quick rich attitude always mess up with alt coins - page 3. (Read 1229 times)
Not only on altcoins but all aspects of investment, just to take an example. HYIP or Ponzi people want to earn quick without doing anything; we just got blind when we saw the possible profit of it without knowing the risk of it. Even though it is just common sense that this will not last in the long run, because we just wanted that big profit easily, we got blind and did not know that you'd lose your money.
And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.
this is because when the market is bullish crypto will be hype and this hype will invite many new investors to invest in crypto. unfortunately most of them do not study the characteristics and movements of the crypto market. as a result they invest at high prices without thinking about the risks they receive are also very high.meanwhile thats simply illusion and is not necessarily gonna make them rich.
thats the thing with these get rich quick investors they just gonna fall into the same trap their entire life because they just too greedy honestly.
if they could spare themselves from being too greedy maybe they could have better investments return but nah they'd just prefer try until they run out of money.
I have that as well, I end up investing all the time, during bull and bear all the same, I keep investing more and more because I have FOMO, I want to be richer, doesn't mean that I can be rich and wealthy get a castle and butlers, that's not my aim, my aim is to have more money tomorrow when I wake up then today when I go to bed, that's it.
Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,
And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.meanwhile thats simply illusion and is not necessarily gonna make them rich.
thats the thing with these get rich quick investors they just gonna fall into the same trap their entire life because they just too greedy honestly.
if they could spare themselves from being too greedy maybe they could have better investments return but nah they'd just prefer try until they run out of money.
The chance of losing is far bigger than making decent profits when you are following that kind of movements,
Same deal with Fuds, where investors are fearing with possible bigger losses than to wait for the next market run, the mindset
of making quick profits from this kind of investment will always lead you to lose your investment, without doing your proper
research most of the time, you will lose as the decision is not appropriate with how the market is moving.
In order not to spend your money on, there is an opportunity to get a little money from giveaways or contests. At the moment I participate in Fairspin web3quest and there it is very easy to get a part of the prize fund by doing easy quests. I never thought it was possible
people with a quick-rich attitude often end up making mistakes when dealing with altcoins. The volatile nature of the cryptocurrency market requires careful research and a long-term investment mindset to navigate successfully.
Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,
And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.meanwhile thats simply illusion and is not necessarily gonna make them rich.
thats the thing with these get rich quick investors they just gonna fall into the same trap their entire life because they just too greedy honestly.
if they could spare themselves from being too greedy maybe they could have better investments return but nah they'd just prefer try until they run out of money.
Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,
And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.its just not worth it to follow the fomo for veterans that already figured out how things would turning out to be. after all these FOMO are just trying to get newer investors gets in to open up chance for the early birds to liquidate.
Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,
And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin, for instance I was lucky to read the recent XRP court case a Sec which ripple won consequently triggering a massive pump on it price, I bought at the middle of the price rally and sold at high, actually the reason for that massive pump was because of the case won by XRP, there are other more examples we are to kept abreast with latest news on any altcoin to be traded.
Xrp just has a quick pump and dump but the price might continue dumping because I read about the SEC saying they'll appeal the case and this will also make investors to start selling xrp again but the selling mightn't be as high as it was the first time that they had a case against them. XRP is a very risky project to be in right now but it can benefit you if you get lucky.
Everyone investing in altcoins wants to get more profits as if they wanted security they'll be investing in Bitcoin but they know that they can't get the high profit that altcoins are giving to their investors that'll why they're investing here. You can have quick rich attitude and also make profits from altcoins because some altcoins are better to take profits and leave the coin.
If you keep holding the coin, it can make you lose a lot of money when it starts dumping. Altcoins aren't investment that you should be holding for a very long time because the SEC can sue any project at anytime and cause them to start dumping as XRP did before it won the lawsuit against the SEC. You should always take profits when you invest in altcoins.
Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,
And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects. 
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.
Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin, for instance I was lucky to read the recent XRP court case a Sec which ripple won consequently triggering a massive pump on it price, I bought at the middle of the price rally and sold at high, actually the reason for that massive pump was because of the case won by XRP, there are other more examples we are to kept abreast with latest news on any altcoin to be traded.It’s good that you are cautious and advising others to be cautious as well. It’s important to understand the reason behind prices moving up and analyze the benefits and demerits of the project before investing.
Well, if it rises due to some hypes and manipulations, you'll gonna be staying away from that project because the next thing that will happen is an abrupt dump. But if it rises because it really has the potential and has a use case, that something will tell us that the future of this project is bright. However, when talking about new projects, we really have to take extra caution because the majority are scams. Many projects have only had a good start but in the later part, it dump slowly until it was gone totally. the thing is that definitely not all of them could always survive majority of them will just outright dump and lose their value.
when it comes to the new project I think the project that has some partnership with the other large institutional even reputed exchanges like coinbase which we know always list very few select token or coins.
are gonna be that massive of helps, it will definitely helps a lot in keeping the project from dumping to oblivions.
when it comes to alts, better choose a project that is backed by well-known company. because they won't just shelve the project because they will be investing their funds to take off the project. now, if they decide to stop the project, you can easily read their update as they will announce it in public. because if they will just abandon it without prior warning, it won't be good on their reputation. so they won't mess it up if they have image that they want to take care of.
Good thing to know about who's behind the project and what they are staking with it,
Reputations are very important for each business and like what you mentioned, if they are backing certain project they are not
just risking their money, but also their reputations. They will mostly refer on, as it will not be a good sign to have that bad reputation.
it will affect the whole business so they will be very careful about it (most of them if not all)
It’s good that you are cautious and advising others to be cautious as well. It’s important to understand the reason behind prices moving up and analyze the benefits and demerits of the project before investing.
Well, if it rises due to some hypes and manipulations, you'll gonna be staying away from that project because the next thing that will happen is an abrupt dump. But if it rises because it really has the potential and has a use case, that something will tell us that the future of this project is bright. However, when talking about new projects, we really have to take extra caution because the majority are scams. Many projects have only had a good start but in the later part, it dump slowly until it was gone totally. the thing is that definitely not all of them could always survive majority of them will just outright dump and lose their value.
when it comes to the new project I think the project that has some partnership with the other large institutional even reputed exchanges like coinbase which we know always list very few select token or coins.
are gonna be that massive of helps, it will definitely helps a lot in keeping the project from dumping to oblivions.
when it comes to alts, better choose a project that is backed by well-known company. because they won't just shelve the project because they will be investing their funds to take off the project. now, if they decide to stop the project, you can easily read their update as they will announce it in public. because if they will just abandon it without prior warning, it won't be good on their reputation. so they won't mess it up if they have image that they want to take care of.
It’s good that you are cautious and advising others to be cautious as well. It’s important to understand the reason behind prices moving up and analyze the benefits and demerits of the project before investing.
Well, if it rises due to some hypes and manipulations, you'll gonna be staying away from that project because the next thing that will happen is an abrupt dump. But if it rises because it really has the potential and has a use case, that something will tell us that the future of this project is bright. However, when talking about new projects, we really have to take extra caution because the majority are scams. Many projects have only had a good start but in the later part, it dump slowly until it was gone totally. the thing is that definitely not all of them could always survive majority of them will just outright dump and lose their value.
when it comes to the new project I think the project that has some partnership with the other large institutional even reputed exchanges like coinbase which we know always list very few select token or coins.
are gonna be that massive of helps, it will definitely helps a lot in keeping the project from dumping to oblivions.
people who want to get rich quick usually always invest in altcoins and the proof is that many are successful because the altcoins they hold go up to 1000% or more. but there are also many who lose as a result of investing in altcoins because the altcoins they hold fall by 500% or more, of course, that will result in losses.
In my opinion, in this case, we can invest in altcoins, but we must be prepared for risks and most importantly, we must be able to analyze technical, fundamental, and others.
In my opinion, in this case, we can invest in altcoins, but we must be prepared for risks and most importantly, we must be able to analyze technical, fundamental, and others.
And if you sum it up, the percentage of those who lost from this kind of investment is far higher than those who managed to earn.
It's really hard to pick and sort out the right project to invest. If you have a mindset that it will bring you big profits,
without doing deep research, more on how dedicated you are to finding the right project and you are not doing
a gambling type of investment, but you have deeper knowledge about the project that you support.
It’s good that you are cautious and advising others to be cautious as well. It’s important to understand the reason behind prices moving up and analyze the benefits and demerits of the project before investing.
Well, if it rises due to some hypes and manipulations, you'll gonna be staying away from that project because the next thing that will happen is an abrupt dump. But if it rises because it really has the potential and has a use case, that something will tell us that the future of this project is bright. However, when talking about new projects, we really have to take extra caution because the majority are scams. Many projects have only had a good start but in the later part, it dump slowly until it was gone totally. it just means that it more vulnerable towards the manipulation that might be pulled of from under the hood.
I just think only at early stage through platform like binance where they have reviewed their project gonna be better than speculating on some random projects out there.
its just a lot more safer since you know you won't get rugpulled or scammed.
the good thing about binance is they won't list a project if they know it is crap in the first place. they have their team reviewing the project itself, if it is valuable or not. or if it will be in demand in the market or not. and maybe with the exception of shib, they saw the high demand from the community so they list it even without the application the shib team. well, at the end of the day, it is all business.
indeed, that's why a token that is new to the crypto business is not listed on binance because the standard requirements are high, meaning every coin. that is listed on the binance platform we can say that there is real potential and high chances that the value will increase due to the millions of users who use the platform.
it just becomes a mess when the altcoin you bought drops its volume and liquidity and when that happens the ship will surely sink and your coins will be stocked up.
Binance has a good reputation and they don't want to risk that by allowing scams on their exchange. But we can remember that they did some delisting of projects that turned out to be dead. And I also have one example of such a dead project that is still on Binance. It's Sonm SNM. The developers quit a long time ago, but the project is still on Binance.
people who want to get rich quick usually always invest in altcoins and the proof is that many are successful because the altcoins they hold go up to 1000% or more. but there are also many who lose as a result of investing in altcoins because the altcoins they hold fall by 500% or more, of course, that will result in losses.
In my opinion, in this case, we can invest in altcoins, but we must be prepared for risks and most importantly, we must be able to analyze technical, fundamental, and others.
In my opinion, in this case, we can invest in altcoins, but we must be prepared for risks and most importantly, we must be able to analyze technical, fundamental, and others.
It’s good that you are cautious and advising others to be cautious as well. It’s important to understand the reason behind prices moving up and analyze the benefits and demerits of the project before investing.
Well, if it rises due to some hypes and manipulations, you'll gonna be staying away from that project because the next thing that will happen is an abrupt dump. But if it rises because it really has the potential and has a use case, that something will tell us that the future of this project is bright. However, when talking about new projects, we really have to take extra caution because the majority are scams. Many projects have only had a good start but in the later part, it dump slowly until it was gone totally. it just means that it more vulnerable towards the manipulation that might be pulled of from under the hood.
I just think only at early stage through platform like binance where they have reviewed their project gonna be better than speculating on some random projects out there.
its just a lot more safer since you know you won't get rugpulled or scammed.
the good thing about binance is they won't list a project if they know it is crap in the first place. they have their team reviewing the project itself, if it is valuable or not. or if it will be in demand in the market or not. and maybe with the exception of shib, they saw the high demand from the community so they list it even without the application the shib team. well, at the end of the day, it is all business.
indeed, that's why a token that is new to the crypto business is not listed on binance because the standard requirements are high, meaning every coin. that is listed on the binance platform we can say that there is real potential and high chances that the value will increase due to the millions of users who use the platform.
it just becomes a mess when the altcoin you bought drops its volume and liquidity and when that happens the ship will surely sink and your coins will be stocked up.
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.
That is true people should be cautious with alternative crypto currencies. The market is too volatile and anything can happen in a blink of an eye. We should had done a thorough research on a specific coin before investing in it. If an investor has a get-rich quick mind set they are more likely to make impulsive decisions without doing their due diligence and it may result to significant financial losses. To avoid such losses be cautious and always think a lot of times before investing.
Altcoin investment is also good if you are aware about possible peak of project before it died. Since you can able to earn with them as long as you are not into long term hold mindset on those token. But if you think about holding it because you want to get rich easily then provably you will be at huge mess and can't recover your losses since there's nothing to recover since the dev scam their community by dumping all their tokens.
the good thing about binance is they won't list a project if they know it is crap in the first place. they have their team reviewing the project itself, if it is valuable or not. or if it will be in demand in the market or not. and maybe with the exception of shib, they saw the high demand from the community so they list it even without the application the shib team. well, at the end of the day, it is all business.
Binance has listed scams in the passed and they immediately delisted it when it was exposed. All exchanges are the same they'll list any tokens that'll give them big trading volume so they can make money from the trading fees. Binance exchange also listed Floki and Pepe without any application from the team but just because this memecoins has huge trading volumes.
Binance exchange is still a good exchange because they care about their reputation and won't do anything negative to affect it so we can always trust them to make things right when they make mistakes. We have many dead projects still listed on Binance exchange and people are buying them thinking they're good project because they have very low volume and almost dead.
Cryptocurrency isn't a quick rich investment and any project promising you that is lying to you. The project that can make you money has to be invested in and you wait for some years. If you invest and get rich very quick, sell your tokens and move from that investment because it'll crash very soon just as others has crashed after it pumped very fast in 2021 due to too much hype.
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