Rethinking Memecoins: A Potential Gateway for New Investors? - page 2.

Kelward

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile. However, my friends are all aware of the risks and only invest small amounts, treating it more like a game that eventually leads them to explore more substantial projects.

While I'm still not a supporter of Memecoins, I'm open to hearing other opinions.

The important thing is that you know what memecoins are and you were able to communicate the meaning to your friends, but they eventually went for memes and got lucky, I'm sure that if they didn't, they won't blame you for misleading them. I see memecoins like the gambling industry were people lose their money and the industry is still growing stronger, the fact is that some people like to take risks for the big bucks, even when they know that the chances of grabbing it is slim. My only advice to people that have the risk absorbers to buy these projects is to invest the amount that they can afford to loose, because there are more scams than legit projects in the crypto space.

avikz

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

While I haven’t personally tried investing in Memecoins, my friends often ask me for advice on where to put their money in the crypto world. I usually suggest sticking to popular ones like BTC, ETH, and ETC. But some friends still go for Memecoins, even though many people think they’re not worth much.

After a few weeks, I started receiving messages and calls from these friends, sharing their successes with Memecoins. One friend even made a nice sum of money trading ROOST, experiencing what seemed like beginner's luck. He then wisely diversified his investments, putting some money into more serious projects and continuing to dabble in other Memecoins. Despite my initial skepticism, I've seen some progress.

I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile. However, my friends are all aware of the risks and only invest small amounts, treating it more like a game that eventually leads them to explore more substantial projects.

While I'm still not a supporter of Memecoins, I'm open to hearing other opinions.

Let's think what the call conversation will be if your friend had lost money after trading in memecoin!

Memecoins are here to make money for their owners and not to their users. If you are lucky, you can make a nice amount of money from memecoins and if you are able to get out in time.

Memecoins are worthless! It's a gambling! Most of the people loose money in memecoins. So whenever you are advising someone, never advise them to invest in memecoins. Rather stick to the known cryptos like Bitcoin or ETH. That's safe for them and for you as well!

LogitechMouse

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

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While I'm still not a supporter of Memecoins, I'm open to hearing other opinions.

I don't invest in meme coins personally, and I have a bit of hate for the meme coins as a whole, but in reality, meme coins are just like other investments out there. Sometimes you can get profit investing into it, sometimes you don't. It's the same as the other altcoins out there.

Meme coins might potentially harm new investors out there because of the fact that they can lose their money investing into these types of coins, but so does other coins that isn't a meme coin at all. As for your friends, I assume that they heard success stories online coming from different people that earned a lot of money because they invested into meme coins that's why they want to do the same. Well, it seems like they're successful in their "FIRST" investment with meme coins. What's good is that after one of your friends made profit, he lessens his risk and invested into some established coins... or not because you only said "SERIOUS" projects. Cheesy

Anyway, investing into meme coins is still a good whether you're a new investor or not. Nothing will change if a new investor invests into new projects out there. It all comes down to risk management.

fullhdpixel

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile.

That's the truth, your friends are just a fraction of the percentage of people investing in meme coins as their initial investments and believe me, a large percentage of such investors get burned and then leave the industry because of their initial losses because not every single meme coin manages to get enough hype to perform and provide profit to their investors and those investing in unprofitable meme coins are getting burned it is just that we aren't aware of them.

I don't support encouraging newbies to get into meme coins when they join the industry, I know that most people these days are looking for ways that they can use to earn quick money and they find meme coins to be an opportunity to achieve that, however, it is not worth the risk in my opinion because you have a very high chance of losing your capital this way.

GreatArkansas

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

(...)
I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile. However, my friends are all aware of the risks and only invest small amounts, treating it more like a game that eventually leads them to explore more substantial projects.

While I'm still not a supporter of Memecoins, I'm open to hearing other opinions.

There's nothing with meme coins, some are making huge money off it.
Some also saying that sometimes you can make more money just riding on the hype together even it has already started, you can still make money from it

But what we must be careful is the risk involves here, we all know how volatile memecoins and especially the market condition right now.

nelson4lov

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Memecoins are culturally bad for crypto because despite the awesome work being put into by very hardworking people striving to give crypto a better outlook other than the get rich schemes that these Memecoins are painting it to be. But it is what it is. In crypto, things you would expect not to hold any grounds will have one of the strongest narrative due to the held mentality. For instance, FTX token still has a millions of $ worth of value in its marketcap despite that FTX filed for bankruptcy 2 years ago. It's the same with this Memecoins. A memecoin like WIF with zero to no utility currently has over billions of $ worth of value.

I want to make money more than I want to be right so these days, I tend to keep an open mind.

crwth

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What's important for me is if you were to try to invest in something that you don't know yet, to do research and make sure that you are risking an amount of money that you know is okay for you to lose. I think having more exposure could help you but you need to understand that it's a risk and never a sure thing.

It's always a cycle if you were to look at the markets.

AVE5

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I think those of your friends has got more crypto Coins knowledges more than you do because they came in consulting you for a crypto they could invest on but later ignored your advice and invested on the ones that even yourself haven't given a try about.
They may actually be ones of those who keeps Privacies and I am think they'd go on a long run by it but it mostly feels good when you share ideas so that you can always compare and find a better one to suit your quest.

I've really come to understand that lot of Investors do have their fan coins where they delightfully invests their funds and even though they may experience tough times along side of it, they'd always accept it to be part of the risks in the crypto sphere.
This could really be on of the reasons those your friends furged ahead and invested on their desired MemeCoins.
MemeCoins are actually good projects but you must be knowledgeable about it so that you can always have your assets on tract by knowing when t invest and when to sell and also your ability to understand that there are MemeCoins have short terms and low terms potentials so, you'd know how long you could hodl your holding in other to keep safe of your investment.

peter0425

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Profits do not come without risks.

We are all aware that even with popular choices like bitcoin or ethereum, there are still risks involved. So we all know that it really takes guts to invest some of your money into any coin, what’s more a little risk? Wink

Huge risks = huge rewards.

Just make sure that you choose wisely and that you know what to do in case something bad happens. Have a plan A, plan B, plan C… and goes on.

MAAManda

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

After a few weeks, I started receiving messages and calls from these friends, sharing their successes with Memecoins. One friend even made a nice sum of money trading ROOST, experiencing what seemed like beginner's luck. He then wisely diversified his investments, putting some money into more serious projects and continuing to dabble in other Memecoins. Despite my initial skepticism, I've seen some progress.

Your friend gets lucky here, only a small number of people experience big profits investing in memecoins, it's like gambling, memecoins have a big addiction potential, and if he continues to feel like he's going to get lucky, he will get trapped and become a problem investor (the same case with problem gamblers).

Don't be triggered by their feel-good stories, stay against memecoins and be a more conservative investor for store of value purposes.

Bureau

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

While I haven’t personally tried investing in Memecoins, my friends often ask me for advice on where to put their money in the crypto world. I usually suggest sticking to popular ones like BTC, ETH, and ETC. But some friends still go for Memecoins, even though many people think they’re not worth much.

Why suggest ETC? It is no more a crypto to invest and wait for a good return. In place of it you could ask them to look into LTC or BNB, the choice is still yours. The meme coin phase is here to stay and investment in meme coins can get you rekt.

Quote from: aima55 on April 13, 2024, 06:18:32 AM

After a few weeks, I started receiving messages and calls from these friends, sharing their successes with Memecoins. One friend even made a nice sum of money trading ROOST, experiencing what seemed like beginner's luck. He then wisely diversified his investments, putting some money into more serious projects and continuing to dabble in other Memecoins. Despite my initial skepticism, I've seen some progress.

Be open to new market narratives and try to use them for your benefit like your friend did. Do remember that the whole crypto industry is full of risk and investment in the wrong crypto can lead to loss. Do your research before investing.

wxa7115

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

While I haven’t personally tried investing in Memecoins, my friends often ask me for advice on where to put their money in the crypto world. I usually suggest sticking to popular ones like BTC, ETH, and ETC. But some friends still go for Memecoins, even though many people think they’re not worth much.

After a few weeks, I started receiving messages and calls from these friends, sharing their successes with Memecoins. One friend even made a nice sum of money trading ROOST, experiencing what seemed like beginner's luck. He then wisely diversified his investments, putting some money into more serious projects and continuing to dabble in other Memecoins. Despite my initial skepticism, I've seen some progress.

I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile. However, my friends are all aware of the risks and only invest small amounts, treating it more like a game that eventually leads them to explore more substantial projects.

While I'm still not a supporter of Memecoins, I'm open to hearing other opinions.

Your friends obviously got lucky, there is nothing more than that, a few specific instances of success do not discredit the abundant evidence that investing in meme coins is often a bad idea that can carry serious economic consequences.

So be glad for your friends and their positive results, but if they keep investing in meme coins then it will not be long until they may come to regret their decision, since sooner or later they will invest in a meme coin that collapses immediately and that gives them no chance to recover their money.

Iamcrypticguy

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

While I haven’t personally tried investing in Memecoins, my friends often ask me for advice on where to put their money in the crypto world. I usually suggest sticking to popular ones like BTC, ETH, and ETC. But some friends still go for Memecoins, even though many people think they’re not worth much.

After a few weeks, I started receiving messages and calls from these friends, sharing their successes with Memecoins. One friend even made a nice sum of money trading ROOST, experiencing what seemed like beginner's luck. He then wisely diversified his investments, putting some money into more serious projects and continuing to dabble in other Memecoins. Despite my initial skepticism, I've seen some progress.

I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile. However, my friends are all aware of the risks and only invest small amounts, treating it more like a game that eventually leads them to explore more substantial projects.

While I'm still not a supporter of Memecoins, I'm open to hearing other opinions.

If you had invested in the likes of Shiba, Doge, Pepe at an early stage, I'm certain you wouldn't have this sentiment. There are risks attached, yes, in terms of trading memes because it's more volatile than BTC, ETH, and other high caps out there. But if you're lucky and you get an early entry, it could surely change your life. I've been seeing ROOST all around crypto Twitter; it seems they're building something good. If you feel like joining your friend but in a safer way, then I'd suggest you look into this. NFA

https://medium.com/@antonirabbit/roost-token-now-available-on-bitget-048f2a3e5e7e

Taskford

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Quote from: aima55 on April 13, 2024, 06:18:32 AM

While I haven’t personally tried investing in Memecoins, my friends often ask me for advice on where to put their money in the crypto world. I usually suggest sticking to popular ones like BTC, ETH, and ETC. But some friends still go for Memecoins, even though many people think they’re not worth much.

Its good that you suggest those top coins since you will never be blame for that if something happen on their investment since the coins you choose is good for those people who starting up. And its their decision to take a risk so maybe they just try to experience what will happen to them if they ride on its hype. Maybe for now they can't feel that its not really worth it but for sure later on once they experience to get scam they are the one will avoid those meme coins.

Quote from: aima55 on April 13, 2024, 06:18:32 AM

After a few weeks, I started receiving messages and calls from these friends, sharing their successes with Memecoins. One friend even made a nice sum of money trading ROOST, experiencing what seemed like beginner's luck. He then wisely diversified his investments, putting some money into more serious projects and continuing to dabble in other Memecoins. Despite my initial skepticism, I've seen some progress.

Well its expected since maybe they are just hype and happy for their short term gains and its normal for newbie to be happy on that since maybe they didn't expect to earn especially if you said that its risky to invest on it. Maybe let them invest on whatever they want and experience the real harsh effect on investing of those meme coins especially for long term since they would provably learn especially if bad things they didn't expect will came.

Quote from: aima55 on April 13, 2024, 06:18:32 AM

I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile. However, my friends are all aware of the risks and only invest small amounts, treating it more like a game that eventually leads them to explore more substantial projects.

It can really harm its just your friend is so lucky to earn at first but nothing will last long and he could figure out that he made a bad mistake for deciding to put their money on scams.

aima55

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While I haven’t personally tried investing in Memecoins, my friends often ask me for advice on where to put their money in the crypto world. I usually suggest sticking to popular ones like BTC, ETH, and ETC. But some friends still go for Memecoins, even though many people think they’re not worth much.

After a few weeks, I started receiving messages and calls from these friends, sharing their successes with Memecoins. One friend even made a nice sum of money trading ROOST, experiencing what seemed like beginner's luck. He then wisely diversified his investments, putting some money into more serious projects and continuing to dabble in other Memecoins. Despite my initial skepticism, I've seen some progress.

I've always held the belief that Memecoins could potentially harm new investors in cryptocurrencies, leading them to feel discouraged after getting burned and thinking that the entire crypto market is volatile. However, my friends are all aware of the risks and only invest small amounts, treating it more like a game that eventually leads them to explore more substantial projects.

While I'm still not a supporter of Memecoins, I'm open to hearing other opinions.

Topic: Rethinking Memecoins: A Potential Gateway for New Investors? - page 2. (Read 318 times)