Topic: People with quick rich attitude always mess up with alt coins - page 7. (Read 1229 times)
I honestly experienced this myself alone. I decided to hodl one of my altcoins when it made like 10x. It is currently dead coin. My profits were very very low compared to initial investment. Melt through holding. I suggest people to invest and hodl only the greatest coins. I count great altcoins like Ethereum or BNB. But with other altcoins, its far better to trade instead of investing and waiting. Result would be making profit quicks with diminishing risks.
It is unfortunate that majority of new investors in crypto have to learn from their own mistakes or experience. I do not blame them entirely for this as crypto is still a new concept. However, true signs of wisdom are when a person learns from the mistakes of others. This will increase his chances of success in new ventures also.
Learning from their own mistakes is also necessary, meaning that if something goes wrong in trading they also have experience so they know what to do if faced with the same problem. However, a pretty good shortcut is to learn from other people's mistakes, research what went wrong and apply it so you don't fall into the same mistakes as other people.
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There is so much information available online related to crypto. So far as getting scammed with alt coins is concerned, the patterns are always same. So if someone gives attention, he can find out such scam from beginning without the need to invest in it.
It requires more skills to research each investment project that will be involved. a lot of information is available on various social media and can be learned easily. The scammer's pattern is the same, but remember that the scammer's methods also evolve over time.
Sometimes, people need to learn from two things.
1. Someone advises
2. Their own experience.
You can advise many people for a better investment, but as you know cannot expect everyone are gonna to hear you. They need to take a leason from their experience, If they losing on shit token.
Then, they're gonna to get a good leason to not touch again ~XD No matter, how good is our advise people will still trying to chase shit token (hype).
1. Someone advises
2. Their own experience.
You can advise many people for a better investment, but as you know cannot expect everyone are gonna to hear you. They need to take a leason from their experience, If they losing on shit token.
Then, they're gonna to get a good leason to not touch again ~XD No matter, how good is our advise people will still trying to chase shit token (hype).
It is unfortunate that majority of new investors in crypto have to learn from their own mistakes or experience. I do not blame them entirely for this as crypto is still a new concept. However, true signs of wisdom are when a person learns from the mistakes of others. This will increase his chances of success in new ventures also.
There is so much information available online related to crypto. So far as getting scammed with alt coins is concerned, the patterns are always same. So if someone gives attention, he can find out such scam from beginning without the need to invest in it.
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.
Yes, the thoughts are correct, but just for these actions and there is no time for a rapid increase in the value of the coin. While we will reflect and analyze - time will pass. The profitable moment of the investment will be missed. Therefore, you have to take risks. Also attracts the possibility of obtaining a quick profit. 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.
Some crazy people’s want to rich very faster and no have enough patience because Thire have one thinking always their mind how to make 2x 3x profit very short time than if not can,t rich quickly than upset.
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.
I don't really know what the Safemoon project is or is this project actually in the shitcoin circle? After all, for someone to get into a new project and have pumped 100% is a red flag when going in to buy. Maybe it's the FOMO of beginners who are consumed by the instigation of irresponsible crazy influencers after throwing away the price. Beginners infatuation always starts with the ambition of big profits in volatile assets. Once again, if they have learned a lot about investing and trading buying when it goes up, they will never understand the concept of investing at all. 
People with quick rich attitude is true that can really mess up with alt coins. It is so risky and volatile to invest in alt coins. Making an impulsive decisions based on the desire and for quick profits would result to losses. Bear in mind that having a quick rich attitude is not advisable to do in investing crypto currency, try to do a research first and study the flow of crypto currency to be able to fully understand the risk that you will face when you do alt coin trading. Always remember also that invest only what you can afford to loose.
What we are seen now with these memes is the best way to transfer wealth from the Haves not to the Haves. I don't understand why someone with a portfolio of $100 is chasing these Memes the gas price alone would eat all your portfolio, if at all you want to buy into them use CEXes the problem with CEXes that list them is that they too want to dump on you, just look at Pepe on BInance. Just be careful
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.
This is normally in crypto that's how new money comes into crypto, I have made such mistake in the past in shiba inu and i throw in so much money into it and it's has gone down so much, you might not understand but i have experienced it, a coin might start pumping and you are watching it move from 10 percent up to 100% and you kinda what am i wasting time, it might still go up, it's such situation. 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.
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.
This is normally in crypto that's how new money comes into crypto, I have made such mistake in the past in shiba inu and i throw in so much money into it and it's has gone down so much, you might not understand but i have experienced it, a coin might start pumping and you are watching it move from 10 percent up to 100% and you kinda what am i wasting time, it might still go up, it's such situation. 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.
Avoiding hype is a wise approach in the cryptocurrency market. Therefore, we should learn from the experiences of others or even from the wrong lessons that we have experienced. This can help us avoid making unnecessary mistakes or mistakes we have experienced. In addition, you should also do your own research before investing in a project because it helps you understand how the project works and how strong the community is, thereby making informed decisions.
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 a natural instinct installed deep in our human nature/root so most people do not do that only in altcoins but in many other facets of life in general.The same happen with gamblers who think let's double our money by playing sport bets or slot machines but the fact is 99.99% of them lose money.The traders suffer the same thing as they want to get rich quick by trading,same as gambling I would categorize these people.
Based on this even the people who go to follow a coin pumped x100 in 24 hours are after getting rich quick and such people as mentioned above always lose in life,virtue is the patience of winners as they say so most people should only invest in coins they believe in the longer term and following such short term trends because the short trends always make some people lose.
...We all want to make money, but we should be aware that getting there will require a lot of patience because most cryptocurrencies only become profitable after being held for a while...
In my experience, I noticed the opposite, that most coins lose their value over time and turn into trash. Only a small number of coins, led by bitcoin, increase their value, thanks to the hold, but you will not get a large profit calculated in thousands of percent from such retention.
Have fun, Why do people now want to be philanthropists from crypto? In my opinion this is the only business where there is a lot of risk and you have a high chance of losing money. You can't get rich quick from crypto market but you can get profit if you want and you have to invest or trade it.
You are right, there is no get-rich-quick scheme if you decide to invest in crypto coins incorrectly, high risks will always exist in crypto investments so investors only use part of the money allocated for long-term bitcoin investments, they will ignore high-risk altcoins for investment and they will still choose bitcoin to guarantee the price can recover when the bullish moment comes.
You are right, investing in altcoins and cryptocurrencies requires careful analysis and simply following trends is not always an effective approach. History shows that many altcoins can go through ups and downs and investors should be aware that they can lose their entire investment. In addition, the commission is only one aspect of the project that needs to be analyzed. Investors should study the fundamental aspects of the project, such as its technological base, development team, competitive advantages, and so on. Of course, greed can have a strong impact on decision making, but it is important to remember that investing in cryptocurrencies and altcoins is a risky process and investors should be prepared to lose their investments.
Have fun, Why do people now want to be philanthropists from crypto? In my opinion this is the only business where there is a lot of risk and you have a high chance of losing money. You can't get rich quick from crypto market but you can get profit if you want and you have to invest or trade it.
Is it only with altcoins?
The idea of high risk and high rewards, drive those investors. Whether it is a good thing to do or not, no one would be able to tell 'coz if they manage to come up with a huge win, those who did not believe in them would be put in silence. For sure they are aware of the chances of losing, no doubt. Except for those who are just easily carried away by their emotion and those who are just following what's solely popular. Not totally wrong except for their entry points wherein some would enter when prices are at peak, expecting for a higher market value. Unfortunately, things does not work as simple as that. Even simple price action would give you the answer to the question whether it would be still profitable to engage in a particular token, halfway of the increase. Bottomline is, we are all guessing how will the market price behave. Difference only is with basis or hunch as is.
People are so dumb. You take safemoon as an example but if you are also watching all time chart and you will be seeing how this shit scam token dumped so hard. People care about gambling their money to the shit scam coin. They never fear to lose it.
They think that if betting in shit scam token like that is far better for them. Altcoins being used only for gambling purpose.
They already understand that it's not a good choice but because they get greedy, that's what makes them choose it anyway. It's as if they are gambling by buying tokens or coins, which can be fraud and even though they know it, they still buy it in the hope that they can benefit from the tokens. Indeed, sometimes we can benefit from investing in tokens like that, but we don't know which will give us a profit and which will be a fraud. They should decide to invest in bitcoin only so they will not become victims of fraud from irresponsible projects.They think that if betting in shit scam token like that is far better for them. Altcoins being used only for gambling purpose.
it can also be called greediness, it's always greed that make some people wanna become rich quick even though it's clear that the method in front of them for becoming quick rich is nothing more than just a trickery, like investing into some shit coin with heavy manipulation, if someone thinks they are someone with extra ordinary luck and could score massive profit going against the one that manipulates forget it, that's just blindness clouded by greedines.
Not all are like that but some genuinely picks altcoin because altcoins are unique and they have something that we can't find in btc. The method to become rich in crypto must be to buy low and sell high. It's not just a trick because it was also being applied in other financial markets.It's only up to our luck sometimes and level of greediness if we are investing in riskier coins. Some can't sell on time but they wait because they think there is still more to come. This is the main cause of losing. It's not possible for us to overcome the manipulators. We can only listen to their orders on some pump and dump groups if we want to get some benefits.
I agree with that. Caution is essential when dealing with altcoins, especially when they experience sudden spikes in price. It is very important to understand the underlying reasons for price movements and analyze the pros and cons of a project before investing.
Sometimes, there are alt coins that increase significantly, for example 200% - 500%. However, if you look at the volume, there is no big increase. However, it is important to remember that past investors have suffered significant losses, with some losing up to 99% of the value of their investment.
Sometimes, there are alt coins that increase significantly, for example 200% - 500%. However, if you look at the volume, there is no big increase. However, it is important to remember that past investors have suffered significant losses, with some losing up to 99% of the value of their investment.
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.
I still believe that value investing plus long-term play is still far better than all these get rich quick Memes, it is the world we find ourselves in now, nobody wants to work, I mean real work, people don't want to sweat again or even task their common sense they just want to be spoon feed. if you ask the young ones, they want to be influencers instead of an engineer. What I am looking at now are projects with huge treasury with huge potential, most of these project don't have any treasury and will burn out in months because most of their funds has been used to pump and dump their tokens
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