To the Moon: Shitcoins are Ponzi Schemes

South Park

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Quote from: Pejoh Asu on February 23, 2022, 05:40:00 AM

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I think all projects that are based on me have a good purpose or there is no investment intention, maybe what happens when they encounter problems and are difficult to complete and in the end their product is defective or fails so they choose to leave it.

A good project always has a clear target, when they encounter a problem of course the best solution is not to make a scam project, and the most important thing is that before making a project it must be supported financially strong and for the current size I have noticed in many discussions is a capital of at least $ 200 million .

If bitcoin required 200 million dollars for its development then most likely it would not have been even released yet, do not deceive yourself, those developers do not need anywhere near that amount of money to create their coins, and if they do then they do not know what they are doing, Satoshi developed bitcoin on his own and he changed the world, if a bunch of developers cannot do better than him under better circumstances then you know their project is worth nothing at all.

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I think all projects that are based on me have a good purpose or there is no investment intention, maybe what happens when they encounter problems and are difficult to complete and in the end their product is defective or fails so they choose to leave it.

A good project always has a clear target, when they encounter a problem of course the best solution is not to make a scam project, and the most important thing is that before making a project it must be supported financially strong and for the current size I have noticed in many discussions is a capital of at least $ 200 million .

South Park

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Quote from: adzino on February 14, 2022, 08:06:27 PM

Shitcoins aren't ponzi scheme, but are somewhat a kind of scam which everyone knows but yet, people still invest in those coin because they all want to get rich real quick. Go to the subreddit of those shitcoin and you will see every investor trying to hype the coin so others invest in the coin, cause the price to pump and then dump and exit with their profit. It is more like every investor trying to scam each other. But at the end, it's the developers who take all the profit and leaves.

In terms of their structure Ponzi schemes and shitcoins are different but the greed behind them is exactly the same, for example there are many people that know deep down that a ponzi scheme is a scam but they still invest in it as they hope to get in it early and then make a lot of money, and something similar happens with shitcoins, in which people know those coins have no future but they hope the hype is enough to make the price to go up and then earn a fortune in the process.

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Shitcoins aren't ponzi scheme, but are somewhat a kind of scam which everyone knows but yet, people still invest in those coin because they all want to get rich real quick. Go to the subreddit of those shitcoin and you will see every investor trying to hype the coin so others invest in the coin, cause the price to pump and then dump and exit with their profit. It is more like every investor trying to scam each other. But at the end, it's the developers who take all the profit and leaves.

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Shitcoins are the rage now. And some of them happen to have some use cases and actually have MVPs. Example are our regular guys like Dogecoin, Shiba Inu, Saitama Inu and most recently Baby Doge Coin. I used to sneer at them, but then many people take them serious, and they are in top 10 coinmarketcap rankings

South Park

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Quote from: DeathAngel on February 10, 2022, 07:18:40 AM

Lots of alts & tokens carry a very high risk which is why the majority of them are extremely cheap. You must do your own research when buying a non mainstream coin. Obviously don’t invest too much in the less well known alts. That’s not to say you can’t make great profits from them but just be aware you can make big losses. I personally prefer to buy bitcoin, eth etc but tgere are many opportunities in others.

And that is the thing, if someone wants to use their money to invest in those coins knowing the risk they entail then they are free to do so, but they need to use only a very small part of their capital, probably something like 5% is fine, that way if you happen to lose that money you can easily recover it by simply waiting a little bit and bitcoin reevaluating itself by 5% during that time, however people put all their savings in those coins and that is when tragedy strikes and they lose all the money they worked for years to save.

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Lots of alts & tokens carry a very high risk which is why the majority of them are extremely cheap. You must do your own research when buying a non mainstream coin. Obviously don’t invest too much in the less well known alts. That’s not to say you can’t make great profits from them but just be aware you can make big losses. I personally prefer to buy bitcoin, eth etc but tgere are many opportunities in others.

batang_bitcoin

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Quote from: Yaunfitda on February 01, 2022, 01:30:45 PM

Perhaps there are similarities between Shitcoins and Ponzi Schemes. But at the end of the day, it is still the investors responsibilities here, if you wanted to be the victim of shitcoins or not. I mean there are risk obviously if you invested on them, they could collapse, they can do a rug pull etc. But if you still wanted to pour your money on it despite the risk then it's your own fault, just saying.

There were many shitcoins that have turned into a scam. As the rug pull became popular with such new projects. It's really one of the worries of the new investors.
But the bad thing is that, instead of them avoiding those new projects that are likely to rug pull. They're investing more money in there with the hope to profit first before anyone else. They take the risk even they know that they can make no money from there.

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Quote from: inanilujimi on January 31, 2022, 04:39:11 AM

In my opinion the Ponzi scheme is definitely a real scam, while shitcoin if it has a strong community can make many people become millionaires in a short time and much more can be increased in crypto, there are many examples of what was just a coin meme turned into something big in the world. this market.

A great deal of shitcoins are scams as well but not all of them are, many shitcoins are simply bad projects which do not really have any hope to stay in the market for the long term and will eventually disappear, however people are so fixated on getting profits no matter what that even those projects receive a lot of attention, which they do not deserve, so while I do not like them it is likely that shitcoins are going to be with us forever, so long as people do not learn to not invest in those coins then those projects will remain popular with the community bringing them nothing but losses in the future.

Yaunfitda

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Perhaps there are similarities between Shitcoins and Ponzi Schemes. But at the end of the day, it is still the investors responsibilities here, if you wanted to be the victim of shitcoins or not. I mean there are risk obviously if you invested on them, they could collapse, they can do a rug pull etc. But if you still wanted to pour your money on it despite the risk then it's your own fault, just saying.

RealMalatesta

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That attitude comes to the minds of newbies who see crypto as a very wet ground these days, and just like your attitude if newbies know it they will be very wise too.
However, at first, startups emerge as investors who feel disadvantaged and indifferent to rejoining a project that is indeed a good one but is still considered a ponzi scheme.
it's about attitude and trauma. and should without being deterred to be smarter in understanding the project being developed with all the advantages.

I do not think that all new projects are seen as shitcoins. At one point SOL was a new coin, Avax was a new coin, ADA is very old but even that was new at one point, even ETH was a "new" coin at one time. If we look at only the "new" new ones, Axie could be considered new, dot and matic doesn't seem too old or at least I heard about them recently, shiba is as new as it gets and yes it is a shitcoin if you ask me but it has seen high levels.

So, we are talking about many projects being new and then reaching to close to top 10 or even be in top 10. Which shows that we do not really consider all new projects as shitcoins. Only the shit ones are called shitcoins because they are shitty.

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Quote from: WalkerIVIV on February 01, 2022, 11:19:49 AM

that's they typical of shit coin newbies. call everything as a scam when he was suffering the lose and he will be calling everything as the best investment when it gives him return but it can't also deny the fact that if meme tokens have pretty similar scheme like ponzi. I guess any investment will always be like that. When you able to join as early adopters and you win.

Simple tipical for beginners without technicals in market patterns, I hope he doesn't declare sh*tcoins to bitcoin and other top altcoins during bear market because all coins will crash due to negative sentiment. Must understand the meaning of sh*tcoin clearly in the many discussions above so as not to assume all coins are part of sh*tcoin.

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Quote from: Zotak337 on February 01, 2022, 09:56:14 AM

There are good shitcoins Grin

and also bad shitcoins, I will only call a coin shit if I fail to make any profits from them after holding for long,

that's they typical of shit coin newbies. call everything as a scam when he was suffering the lose and he will be calling everything as the best investment when it gives him return but it can't also deny the fact that if meme tokens have pretty similar scheme like ponzi. I guess any investment will always be like that. When you able to join as early adopters and you win.

Quote from: Zotak337 on February 01, 2022, 09:56:14 AM

I've seen some shitcoins do so well later for example doge coin, those who turned to millionaires because of shiba won't ever see shiba inu as a shitcoin.

Dogecoin must be an exception but why don't you even see those hundreds or thousands of failed meme tokens that already dead? that will be fair if you are asking me. The fact that even if those meme tokens generate bunch of money for those early buyers and those are still meme tokens.

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Ponzi offers attractive advantages to new people in the business world. I see a lot of people in my neighborhood who first got to know their investments got stuck in a ponzi and lost a lot of money. I believe in every country there are strict regulations on ponzi schemes. Still we have to be vigilant.

Zotak337

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There are good shitcoins Grin

and also bad shitcoins, I will only call a coin shit if I fail to make any profits from them after holding for long, I've seen some shitcoins do so well later for example doge coin, those who turned to millionaires because of shiba won't ever see shiba inu as a shitcoin.

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Shitcoins and Ponzi Schemes have different meaning and I don't think as well that all of the shitcoins can be called as Ponzi Schemes.
Ponzi Schemes is almost the same as MLM that you will earn only thru referrals and some other things maybe but mostly thru referrals. Shitcoins is described as a coin that has no value and no purpose as stated here.

In other words, Shitcoins can't be ponzi schemes because there are other reasons why it is being called as a shitcoin. Number one reason is that the coin itself hasn't have any use case at all. Another is that the project has lack of traction and the project doesn't have any community that can support it. A coin that is being pumped and dumped can be considered as a shitcoin and we've seen many altcoins did this.

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Quote from: Naficopa on January 31, 2022, 05:34:45 AM

I think the only similarity between shitcoin and ponzi scheme is that most shitcoins are pump & dump. So those who buy it at the latest (before the bubble bursts) lose the most. Those who buy shitcoin as soon as possible and leave it on time gain the most - the same goes for the ponzi scheme. However, technically they have nothing to do with each other.

...But they are however similar because the only reason the people that generate them do so is because their intention is to rip people that invest in them off even when they know they are not offering any meaningful thing behind them and I agree as you said, mostly the first set of investors are usually the gainers.

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What does a Ponzi scheme means is explained in the previous post. It is similar to the MLM where people will be benefited with the amount from the new persons joining on both the legs. In my understanding shitcoins are projects that emerged for some purpose, but due to some issues they weren't able to progress. This can be of the problems out of finance, development, promotion. There are several projects that got launched, but didn't succeed in the short run. After years once again it got dusted and grown good. Shitcoins aren't Ponzi schemes, there are ponzi scheme pattern coins as well as scam coins.

All shitcoins aren't Ponzi/Scam.

el kaka22

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This is the problem with people who do not understand what a confidence trick is. Ponzi scheme is not something you invest and it loses money and you get out with less money. Ponzi scheme is something you invest, and they pay you with the previous investors money, and then you see how wonderful it is and invest more and they pay the previous investor with your money and until both of you stop, you get money from each other thinking you are doing fine and earning a lot.

This is the problem here, you are not going to make that much profit, you are not going to earn too much but you are not going to get scammed in a ponzi way, nobody is giving you others money to make you believe you are profiting, it is an investment. It could go up, it could go down but it is an investment in the end and it is based on what the market decides to do, nothing more.

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Quote from: mk4 on December 26, 2021, 04:13:31 AM

~

I won't mention one though as I might be seen shilling it, but sometimes those projects just do not get the public's eye that's why they get little to no investors at all. The word altcoin/s has been like painted to be "likely to be a shitcoin" by many. And to be honest, whenever I see newer projects just popping up, it have little to no expectation that it will push through.
And yes, even business outside crypto are also failing.
I recall some coffee shop businesses around here in my area that just started to close one by one pre-pandemic, even though their menu seems good.

Topic: To the Moon: Shitcoins are Ponzi Schemes (Read 612 times)