People with quick rich attitude always mess up with alt coins - page 8.

Cling18

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Quote from: lobo13hf on May 12, 2023, 10:02:54 AM

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.

Some people perceive success stories they hear incorrectly, leading them to have unrealistic expectations and even the wrong mindset when it comes to investing in cryptocurrencies. 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.
We should restrain our greed and desire to become rich quickly when investing in cryptocurrencies, and we shouldn't ignore the risks. If we have the guts to research how to handle market volatility, we can become sensible investors.

maydna

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Quote from: poodle63 on May 11, 2023, 08:58:53 PM

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.

lobo13hf

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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.

maydna

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Quote from: Rampagoe004 on May 12, 2023, 09:01:13 AM

People who get rich quick or who want to get rich quick is a bad attitude. Because people who get rich quick are usually annoying and like to belittle people. Likewise with the nature of wanting to get rich quick. It will give rise to greed in man. And believe greed will lead you to destruction. An example is investors who rush to get rich quick and then they are ruined because of fraud and get scam.

People who want to get rich quickly will use any means to get rich quickly, even if it is illegal. This has happened in many places. When we want to be rich, we will be someone different from usual because the desire to be rich has taken over us. And when we have succeeded in raising money, greed will come to us and tell us that we should be able to collect more money. And that's what makes us never feel enough, and maybe that's what will cause the destruction we will experience in the future because we are too greedy.

siniminomorocomunisakito

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Quote from: TheUltraElite on May 12, 2023, 06:00:28 AM

Indeed many shitcoins have just been methods to gamble instead of supporting a project which can lead to some new innovations. The onwere release the coin as a method to make quick money off the pockets of enthusiastic newbies while the advisory committee gets its cut from the company in cash or kind. Then the onwards run the vaporware for a fixed period of months before they dump on the crazy investors and then run away without a trace.

Even worse are the HYIP/ MLM scams which dont even do this but only spread the name and get people to buy it while nothing is actually happening in the background.

I agree with your view but unfortunately, the crypto space remains largely unregulated and attracts a lot of shady characters looking to make a quick buck. Moreover, at this time the growth is very significant and there are also many scams and steam devices that do not live up to their promises. I think this is where we are being smart and careful in their investments and wary of promises of quick riches.

Rampagoe004

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People who get rich quick or who want to get rich quick is a bad attitude. Because people who get rich quick are usually annoying and like to belittle people. Likewise with the nature of wanting to get rich quick. It will give rise to greed in man. And believe greed will lead you to destruction. An example is investors who rush to get rich quick and then they are ruined because of fraud and get scam.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: poodle63 on May 11, 2023, 08:58:53 PM

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.

Indeed many shitcoins have just been methods to gamble instead of supporting a project which can lead to some new innovations. The onwere release the coin as a method to make quick money off the pockets of enthusiastic newbies while the advisory committee gets its cut from the company in cash or kind. Then the onwards run the vaporware for a fixed period of months before they dump on the crazy investors and then run away without a trace.

Even worse are the HYIP/ MLM scams which dont even do this but only spread the name and get people to buy it while nothing is actually happening in the background.

Victorik

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Quote from: ethereumhunter on May 11, 2023, 11:00:10 AM

Quote from: Victorik on May 11, 2023, 09:28:08 AM

Anyone on the space with a get rich quick mentality will always end up getting their fingers burnt. There are a tonne of project out there promising a lot but if care isn't taken, you might end up losing your hard earned more.
Moreso, when it comes to investing in altcoins, don't put too much, just put what you can afford to look away from when it goes south.

Those who think investing in cryptocurrencies can make them rich in a short time will only be disappointed because it does not meet their expectations. Investing in any field requires time to take advantage of it. Of course, it is an investment that does not turn into fraud. When they can get the right coin like bitcoin, as their investment, they can expect to make big profits in the coming bull run. But those who think they want to get rich quickly can't choose the right coin because they will only listen to suggestions from other people without further analysis.

Yeah. You're right, but sadly, there are so many in this space who are here to get rich quick. Sometimes you can be lucky and get huge profits from some very highly risky coins newly launched, especially if you enter very early. And sometimes you might not be lucky as the project might turn out to be fraud.

Mostly people with get rich quick mentality do not last on this space.

Crypto-Ivan

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Having a get-rich-quick attitude in any area is prone to failure.
Many altcoins are only speculative and hyped through false publicity, resulting in large fluctuations in market prices, which may eventually cause unnecessary losses.

danherbias07

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In short, don't ride the hype.

Those who are old in this business know the rule about not riding the wave because sometimes it leads to getting rekt. But, new investors will probably make the same mistake as we did before because we lack knowledge about what we do or what we invest with.
Now, there are a lot of cryptocurrency/altcoin investors who have shared their experiences, I think it's better to learn from their mistakes to avoid doing it again.
Most of the projects now are just recycling it so it's better to check if those types of coins are really worth the investment or just like before they will be left behind and declare bankruptcy and as an aftermath we won't have the money back. This ain't new anymore but I am pretty sure there are still a lot of victims.

Andrija Branislav

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Quote from: krishnaverma on May 10, 2023, 09:56:31 AM

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.

Exactly, it is very important to be careful when investing in altcoins. While the lure of quick profits can be tempting, as the OP noted regarding the recent Safemoon price spike, new investors may be tempted to jump in.

Quote from: Questat on May 11, 2023, 10:59:37 PM

Quote from: yhiaali3 on May 11, 2023, 11:42:23 AM

That's right, Altcoin is never suitable for long or medium investment, it is only suitable for speculation.
There is a very high risk, especially in coins that pump x 100, that it can collapse in a few hours.

Unfortunately, it was difficult to educate greedy people and think just what we think about these projects. It seems to know that their greediness manipulates everything - their minds, and decision-making.

Honestly, it was hard to think about earning a profit from non-usable projects as they are likely possible to collapse.
We don't have to wait and have to experience losses if we have ways to avoid it from the very start.

It is true and I agree that Greedy can cloud judgment and lead individuals to make risky investment decisions. It's hard to educate people who are solely focused on making a quick profit and aren't interested in doing due diligence. yes. hard to lose sir

My view maybe same by others. Investing in projects that don't have solid use cases or have questionable fundamentals can be a risky proposition. While it is possible to make a profit, it is also important to consider the possibility of significant losses if the project fails.

Questat

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Quote from: yhiaali3 on May 11, 2023, 11:42:23 AM

That's right, Altcoin is never suitable for long or medium investment, it is only suitable for speculation.
There is a very high risk, especially in coins that pump x 100, that it can collapse in a few hours.

Unfortunately, it was difficult to educate greedy people and think just what we think about these projects. It seems to know that their greediness manipulates everything - their minds, and decision-making.

Honestly, it was hard to think about earning a profit from non-usable projects as they are likely possible to collapse.
We don't have to wait and have to experience losses if we have ways to avoid it from the very start.

poodle63

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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.

BobK71

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Quote from: krishnaverma on May 10, 2023, 09:56:31 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.

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 altcoins have no guarantees. They can withdraw from the market at any time after acting according to their plan. While investing in those coins has the potential to make huge gains, there is also the potential to lose. I have seen many altcoins projects in the past that artificially created hope in the market for a short period of time, withdrawing money from investors and disappearing. Investors should avoid of such projects otherwise they may suffer fatal losses. If you invest in good projects, even if you get a small amount, it is reliable.

el kaka22

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Too many people are wrongful to imagine this is even possible. I keep telling people that there is absolutely nothing in the world that could make you rich quick and yet they still keep on trying. I understand that I can't control every person in the world and that means that there will be people making mistakes, if I only I could but I can't and can't stop them from making these silly moves. However, you need to realize that these are stuff that we can't control and we have no power over.

I hope that they get smart and stop doing this, because it is not possible and every single time when they do it, the result will be the same and we are going to end up with a loss in the end. I get that it is not nice but we just need to move on.

yhiaali3

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That's right, Altcoin is never suitable for long or medium investment, it is only suitable for speculation.
There is a very high risk, especially in coins that pump x 100, that it can collapse in a few hours.

demonica

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You're right about that. A quick-rich attitude is something people should avoid. Others may be lucky enough to earn big profit with altcoins but it doesn't mean, it will apply to everyone. When people hear about others' stories of how they easily earn huge profit with altcoins, they'll be envious and would start to be greedy. FOMO. But the thing is, not everyone has the same ending in altcoin. Some people wouldn't understand this thing unless they experienced losing, which I don't understand why they have to experience it before they'll realize the wrong mindset and attitude they have when investing in altcoins.

fvb

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Quote from: krishnaverma on May 10, 2023, 09:56:31 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.

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 always think about this too, and before investing in tokens, I analyze projects very carefully, especially with such suspicious price rises in a short time. This is very often created artificially in order to lure more money from investors. Many are in a hurry and lose their heads from greed, and then lose money from not thinking properly

crwth

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It's not just that, and it's always the case when people tend to purchase the news and then lose a lot of money by buying at the top.

It's always best to have the buying timing at the start when there's no noise yet so that you can have that maximum profit and make sure that you HODL your way to the top and then sell when others are buying. It's hard to time it but better to get out fast if the fast things happen.

Be careful investing.

ethereumhunter

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Quote from: Victorik on May 11, 2023, 09:28:08 AM

Anyone on the space with a get rich quick mentality will always end up getting their fingers burnt. There are a tonne of project out there promising a lot but if care isn't taken, you might end up losing your hard earned more.
Moreso, when it comes to investing in altcoins, don't put too much, just put what you can afford to look away from when it goes south.

Those who think investing in cryptocurrencies can make them rich in a short time will only be disappointed because it does not meet their expectations. Investing in any field requires time to take advantage of it. Of course, it is an investment that does not turn into fraud. When they can get the right coin like bitcoin, as their investment, they can expect to make big profits in the coming bull run. But those who think they want to get rich quickly can't choose the right coin because they will only listen to suggestions from other people without further analysis.

Topic: People with quick rich attitude always mess up with alt coins - page 8. (Read 1229 times)