Shitcoins and Memecoins | Bitcointalksearch.org

Henrobakkara

full member

Activity: 1512

Merit: 115

Quote from: irhact on October 28, 2022, 07:43:54 PM

Quote from: Liz Truss on October 24, 2022, 03:23:45 AM

Did you notice?
It is shitcoin season!!! Memecoins are not to be left behind!

I noticed dogechain pumping and this got me wondering how that's possible in a bear market then I want to their social media page and discovered they announced a burn mechanism and a reduction of token supply which triggered the community to react positively. People still get this fooled in 2022, why did the developers make such supply of tokens if they know they won't need it in future.
So they still use the trick of burning of token supply to increase investors trust and hope of been profitable when they get their hands on these worthless meme coin.

This is the same question I am asking. Why would all these Devs develop all the quadrillion amount of tokens and later bring this burning mechanism and people are actually falling for this? I understand that people are eager to make profits hence why we see them investing in all these shitcoins, Does this burning actually bring positive results to the projects? and here I was thinking it was because Elon Musk eventually bought tweeter that triggered the pump cos I believe there was this speculation then that he was going to accept Dogecoin for some tweet activity Grin

execijutiere

legendary

Activity: 1386

Merit: 1231

Quote from: posi on October 29, 2022, 07:05:26 PM

Quote from: ?? on ??

Quote from: Mahanton on October 28, 2022, 07:25:56 PM

Quote from: ?? on ??

I haven't invested in any shitcoin or memecoin so far. But if I had invested enough not to risk it, maybe it would have made some people happy. So sometimes it is necessary not to know anything. Throwing 15-20 dollars at anyone sometimes earns good money in a strange way. I respect those who do, but I have never invested without researching the project.

On just using your own common sense, then you would definitely be suggesting not to engage with risky meme coins but we do know that there are people who could really play with fire.
They know its risky but it is also a way on making huge profits if the trend or interest or hype would really go in line with these things.Its better not to touch up if you could
able to bare the risk but it cant really be denied that investing on shit coins and when it gets pumped then you would definitely get lots of profits
but if not then it would really be a loss or in general, its really a gamble.

You can follow the trend and put some money at risk, but you need to allocate this amount in advance with an eye to losing it. This kind of investment is very risky and there is a chance of being rugpulled in an instant. We need to invest with this in mind. The maximum I can do is 50 dollars.I can't throw any more of my money at such untrustworthy things.

Strictly speaking, investing in memes is gambling, you can invest in memes as long as you know what you're doing. it can make you lose but can also help you make huge profits.

You are right, allocating capital is a good thing to do and should not focus your entire investment on meme, just a small amount of money and willing to lose to invest with meme. I invest in memes as entertainment and I don't mind them too much.

Although memes are useless but I believe it will never die, they will always be on the market and they will be more active when the bull season returns, I would rather invest in them when the bull season comes than now.

The cryptocurrency market is full of prey and predators. That's why meme coins will be in every bull or bear. The important thing will be to catch them early. As I said to a meme coin, I allocate a maximum capital of 50 dollars. I see more as unnecessary. While the winner will earn well, the loser will reset the money. It can be tried for 50 dollars when there is a 50 percent chance.

Abiky

legendary

Activity: 3192

Merit: 1362

www.Crypto.Games: Multiple coins, multiple games

Quote from: Luffygroove on November 04, 2022, 07:22:29 PM

Um, I'm not sure. People are hesitant to invest in anything right now, not even legal businesses. It's really hazardous, so most people appear to be holding out until things become clearer. People aren't really motivated to trade in light of the present scenario. Perhaps you can explain how you arrived at this assessment. to the extent of an article or something? Perhaps with them, we'll be able to take it in a little more easily. People will still be interested in shitcoins and meme coins, but I expect they won't have as much appeal as the bull market.

The recession causes severe pain across both the crypto and stocks markets. That's because people often hoard their cash when the cost of living goes up at a very fast pace. With central banks adding fuel to the fire, it's going to take quite a long time before we're able to experience an "altcoin season" anytime soon. "Meme" coins are usually driven by hype, so they could skyrocket in price even if it's for a short period of time. They don't have any future since developers don't take them seriously. And don't let me get started again on "Shitcoins".

Ultimately, there can only be one winner. Bitcoin is by far the best cryptocurrency in the world (despite being slow and expensive at times), so it's likely most altcoins will die while the pioneer cryptocurrency lives for generations. I'd consider a gamble to invest into both "shitcoins" and "meme" coins. As long as you know what you're doing, there should be nothing to worry about. Just my thoughts Grin

sana54210

legendary

Activity: 3178

Merit: 1128

Quote from: KennyR on October 30, 2022, 07:20:35 PM

During those days the market isn't this big and it is an easy thing to launch a token. Now it is not an easy thing anymore and people won't invest on it. Very few shitcoins/memecoins have got potential support, whereas majority were just developed and left away. Lucky ones will get to make the best out of it, if not we should have the plan to invest same as that we use for gambling.

It’s still an easy thing, it just depends on the money you have. If you have 50k dollars in your pocket, you could spend 10k on building a token, and 40k on marketing and you could get a million dollars out of it. The problem is not the fact that there is less money to be made as project creator, but that doesn't mean that you can't.

The problem is that people could create new tokens and make money from it, and that’s not normal, the reason to create a token shouldn't be to get rich, did satoshi become rich? That wasn't the point, most created coins of the old did not make the creators rich at all, it just made investors rich, that was the point.

Zanab247

full member

Activity: 1190

Merit: 126

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Since the market price is changing gradually in the crypto market, I guess Shitcoins will bring a good results to those that embraced the opportunity to invested in Shitcoins some months ago. Since bear season is still affecting Shitcoins and memecoins, show that there is still an opportunity to invest in Shitcoins to be part of those that will earn well in the future, because their teams are well organized to make the price pump higher before the end of this month of November.

Luffygroove

member

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Ton Together | Save Smart & Win Big

Um, I'm not sure. People are hesitant to invest in anything right now, not even legal businesses. It's really hazardous, so most people appear to be holding out until things become clearer. People aren't really motivated to trade in light of the present scenario. Perhaps you can explain how you arrived at this assessment. to the extent of an article or something? Perhaps with them, we'll be able to take it in a little more easily. People will still be interested in shitcoins and meme coins, but I expect they won't have as much appeal as the bull market.

Abiky

legendary

Activity: 3192

Merit: 1362

www.Crypto.Games: Multiple coins, multiple games

Quote from: posi on October 29, 2022, 07:05:26 PM

Strictly speaking, investing in memes is gambling, you can invest in memes as long as you know what you're doing. it can make you lose but can also help you make huge profits.

You are right, allocating capital is a good thing to do and should not focus your entire investment on meme, just a small amount of money and willing to lose to invest with meme. I invest in memes as entertainment and I don't mind them too much.

Although memes are useless but I believe it will never die, they will always be on the market and they will be more active when the bull season returns, I would rather invest in them when the bull season comes than now.

"Meme" coins are just fun cryptocurrencies you can use without "breaking the bank". While it's possible to profit with these coins during the ups and downs in price, I wouldn't recommend relying on them as a long term investment due to their extremely-unpredictable nature. Most (if not all) of these coins have an exaggerated supply of units in circulation, making it impossible for them to retain a high price for such a long period of time. Garlicoin would be the only exception to this (due to its finite supply), but it hasn't gone to the moon yet because development progress has stalled. People are no longer interested in the cryptocurrency, as they move on to the next big thing.

"Shitcoins", on the other hand, last longer than "meme" coins but they're often a victim of hacks, outages, and other undesired situations. Basically no other cryptocurrency compares to Bitcoin when it comes to achieving decentralization and censorship-resistance. Most of the coins you see now will die, paving the way for other new players to enter the space. As long as you don't put all of your eggs in one basket, there should be nothing to worry about. Just my thoughts Grin

Fredomago

legendary

Activity: 2954

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Leading Crypto Sports Betting & Casino Platform

Quote from: Henrobakkara on October 31, 2022, 12:51:32 PM

Quote from: irhact on October 28, 2022, 07:43:54 PM

Quote from: Liz Truss on October 24, 2022, 03:23:45 AM

Did you notice?
It is shitcoin season!!! Memecoins are not to be left behind!

I noticed dogechain pumping and this got me wondering how that's possible in a bear market then I want to their social media page and discovered they announced a burn mechanism and a reduction of token supply which triggered the community to react positively. People still get this fooled in 2022, why did the developers make such supply of tokens if they know they won't need it in future.
So they still use the trick of burning of token supply to increase investors trust and hope of been profitable when they get their hands on these worthless meme coin.

This is the same question I am asking. Why would all these Devs develop all the quadrillion amount of tokens and later bring this burning mechanism and people are actually falling for this? I understand that people are eager to make profits hence why we see them investing in all these shitcoins, Does this burning actually bring positive results to the projects? and here I was thinking it was because Elon Musk eventually bought tweeter that triggered the pump cos I believe there was this speculation then that he was going to accept Dogecoin for some tweet activity Grin

Musk is again manipulating his dog, seems that he really making good pump for doge and shiba and look what' happening a hype and more traders and investors are falling into it, we don't know how long it will take and how high Musk is planning to pump both projects but it really risky if you don't have the guts to embrace the possibilities of losing your investment.

If you are familiar and have great experienced with the current setup, shit/meme always have the timing to enjoy the earnings.

NNRR

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Activity: 1568

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Always try to stay away from Shitcoins and Memecoins because these coins have a lot of movement, so you may see a lot of profit at some point, but you will see that these Shitcoins and Memecoins disappear from the market and you will face a lot of losses.

Jaered

jr. member

Activity: 840

Merit: 4

The bear season is not kind to everyone too. Many legit utility coins and tokens are feeling the heat too. Some are down more than 50%. In fact if you take a research on the average dump of utility vs shitcoins, you would be surprised at what you would get. Take for example, what happened to Dogecoin recently. Same to Shiba Inu

KennyR

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Quote from: ?? on ??

Quote from: tvplus006 on October 29, 2022, 06:32:48 PM

Quote from: ?? on ??

I think it's not enough to just follow the trend, we have to pay attention to the project too, sometimes there are shitcoins that can't be sold, you can only buy them, that's also what we have to pay attention to when we want to buy shitcoins, and always pay attention to the progress of their projects.

The coin cannot be sold only if it is prohibited in the smart contract. And this has nothing to do with shitcoins, since such a ban can be identified with scam. Obviously, not every shitcoin can be sold for more than you bought it, but this applies to all coins when the market turns bearish.

But it was a big surprise why these shitcoins and non-valuable coins are multiplying many times their price during the bull season.
In fact, I have that experience before last 2017 and I see this come to happen again next Bullrun. Though the risk is high and has no chance to make a profit from them. However, as we can see, many investors are buying new projects (shitcoins and meme coins) thinking that this will make them rich in the future.

During those days the market isn't this big and it is an easy thing to launch a token. Now it is not an easy thing anymore and people won't invest on it. Very few shitcoins/memecoins have got potential support, whereas majority were just developed and left away. Lucky ones will get to make the best out of it, if not we should have the plan to invest same as that we use for gambling.

Silberman

legendary

Activity: 2492

Merit: 1332

Quote from: ?? on ??

Quote from: tvplus006 on October 29, 2022, 06:32:48 PM

Quote from: ?? on ??

I think it's not enough to just follow the trend, we have to pay attention to the project too, sometimes there are shitcoins that can't be sold, you can only buy them, that's also what we have to pay attention to when we want to buy shitcoins, and always pay attention to the progress of their projects.

The coin cannot be sold only if it is prohibited in the smart contract. And this has nothing to do with shitcoins, since such a ban can be identified with scam. Obviously, not every shitcoin can be sold for more than you bought it, but this applies to all coins when the market turns bearish.

But it was a big surprise why these shitcoins and non-valuable coins are multiplying many times their price during the bull season.
In fact, I have that experience before last 2017 and I see this come to happen again next Bullrun. Though the risk is high and has no chance to make a profit from them. However, as we can see, many investors are buying new projects (shitcoins and meme coins) thinking that this will make them rich in the future.

It may seem like it makes no sense that those useless coins keep skyrocketing from time to time, but if you think about it we can still make sense of the situation, at the end of the day people are not looking to invest in good projects, that is just a means to an end, and what is it the end goal? To earn money, so as long as a coin can give them profits they do not care if it is a shitcoin or not, the developers of those coins know this which is why they try to generate hype for their coin, and if they can do it then they know that this will attract more and more traders and investors to their projects, however at some point that growth will stop and then a crash becomes inevitable as there is nothing which can keep the price at such high levels.

Gamerkong

newbie

Activity: 3

Merit: 0

Lol the funny thing is more and more of these coins keep popping up and they still make money off it. It's ridiculous but weird at the same time. Wonder if this is the direction the coins will go and if people are backing some of these coins. But like the saying goes another mans trash is another mans gold Grin

Slow death

legendary

Activity: 2968

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it is unbelievable, until 2 years ago we only had 5000 cryptocurrencies and of course of those 5000 cryptocurrencies only less than 50 were not shitcoin, but today we have 21555 cryptocurrencies, this is a scary number and if we take into account that only less than 50 cryptocurrencies are not they are shitcoin so we would be saying that there are more than 21000 shitcoins and altcoins of memes, this number is very large, it seems that every day they are creating dozens of shitcoin and altcoins of memes

Quote from: ?? on ??

Shitcoins and Meme Coins are the most seen things, now there are around 20 new listed coins and the majority are Shitcoins and Meme Coins, but this is what makes us have to be vigilant and do not easily believe in investment in Shitcoins and Meme Coins.

talking about listing, currently even the number of exchanges has increased a lot, there are already 500 exchanges and we have 21500 shitcoins and meme coins, doing research to be able to separate shitcoin from serious projects has become an almost impossible mission, now people can only choose serious projects like bitcoin or ETH and some others and when the person wants to invest in some shitcoin in the hope of making a profit, the person has to think that he is putting money that he will not miss when he loses, shitcoins have become something like a lottery, just like gambling

posi

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Quote from: ?? on ??

Quote from: Mahanton on October 28, 2022, 07:25:56 PM

Quote from: ?? on ??

I haven't invested in any shitcoin or memecoin so far. But if I had invested enough not to risk it, maybe it would have made some people happy. So sometimes it is necessary not to know anything. Throwing 15-20 dollars at anyone sometimes earns good money in a strange way. I respect those who do, but I have never invested without researching the project.

On just using your own common sense, then you would definitely be suggesting not to engage with risky meme coins but we do know that there are people who could really play with fire.
They know its risky but it is also a way on making huge profits if the trend or interest or hype would really go in line with these things.Its better not to touch up if you could
able to bare the risk but it cant really be denied that investing on shit coins and when it gets pumped then you would definitely get lots of profits
but if not then it would really be a loss or in general, its really a gamble.

You can follow the trend and put some money at risk, but you need to allocate this amount in advance with an eye to losing it. This kind of investment is very risky and there is a chance of being rugpulled in an instant. We need to invest with this in mind. The maximum I can do is 50 dollars.I can't throw any more of my money at such untrustworthy things.

Strictly speaking, investing in memes is gambling, you can invest in memes as long as you know what you're doing. it can make you lose but can also help you make huge profits.

You are right, allocating capital is a good thing to do and should not focus your entire investment on meme, just a small amount of money and willing to lose to invest with meme. I invest in memes as entertainment and I don't mind them too much.

Although memes are useless but I believe it will never die, they will always be on the market and they will be more active when the bull season returns, I would rather invest in them when the bull season comes than now.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: ?? on ??

I think it's not enough to just follow the trend, we have to pay attention to the project too, sometimes there are shitcoins that can't be sold, you can only buy them, that's also what we have to pay attention to when we want to buy shitcoins, and always pay attention to the progress of their projects.

The coin cannot be sold only if it is prohibited in the smart contract. And this has nothing to do with shitcoins, since such a ban can be identified with scam. Obviously, not every shitcoin can be sold for more than you bought it, but this applies to all coins when the market turns bearish.

Xal0lex

staff

Activity: 2436

Merit: 2347

Quote from: Liz Truss on October 24, 2022, 03:23:45 AM

Did you notice?
It is shitcoin season!!! Memecoins are not to be left behind!

What are Shitcoins?

Shitcoins are crypto assets with little to no value or digital currency that has no immediate, discernible purpose.
On the other hand, Memecoins are genres of crypto assets with it?s value derived from it?s community?s support. They are largely speculative.

Everything you described applies to any altcoin, regardless of its category, whether it is a utility token or a meme coin. All coins depend on community support and whales. Without them, there will be no demand and the creation of a certain market by market makers. If we are talking specifically about meme koins, it is a class of cryptocurrency whose demand depends only on the availability of some influencer. If a meme coin doesn't have an influencer, who will distribute mentions about the coin in social networks, then this meme coin will remain unknown and unwanted. The popularity of this or that coin depends on the degree to which it is distributed in social networks by some person, a so-called opinion leader.

Humility4sure

newbie

Activity: 97

Merit: 0

Meme coin are not necessarily shit coin, though they are largely almost as risky as shit coin owing to the fact that they lack utility and their success is determined by whose behind the project and the community desire to pump it or not. When I think about meme coin, what comes to mind is Shiba and dogecoin, though I know there are several more that are regarded as shit coin.

irhact

hero member

Activity: 616

Merit: 749

Quote from: Liz Truss on October 24, 2022, 03:23:45 AM

Did you notice?
It is shitcoin season!!! Memecoins are not to be left behind!

I noticed dogechain pumping and this got me wondering how that's possible in a bear market then I want to their social media page and discovered they announced a burn mechanism and a reduction of token supply which triggered the community to react positively. People still get this fooled in 2022, why did the developers make such supply of tokens if they know they won't need it in future.
So they still use the trick of burning of token supply to increase investors trust and hope of been profitable when they get their hands on these worthless meme coin.

Mahanton

hero member

Activity: 2688

Merit: 625

Quote from: ?? on ??

I haven't invested in any shitcoin or memecoin so far. But if I had invested enough not to risk it, maybe it would have made some people happy. So sometimes it is necessary not to know anything. Throwing 15-20 dollars at anyone sometimes earns good money in a strange way. I respect those who do, but I have never invested without researching the project.

On just using your own common sense, then you would definitely be suggesting not to engage with risky meme coins but we do know that there are people who could really play with fire.
They know its risky but it is also a way on making huge profits if the trend or interest or hype would really go in line with these things.Its better not to touch up if you could
able to bare the risk but it cant really be denied that investing on shit coins and when it gets pumped then you would definitely get lots of profits
but if not then it would really be a loss or in general, its really a gamble.

Topic: Shitcoins and Memecoins (Read 730 times)