Altcoins Talks - Cryptocurrency Forum
Local => Nigerian Languages => Topic started by: Thyplaymaker on December 17, 2023, 04:06:09 PM
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At first what's Shit coins, these are term commonly used by cryptocurrencies enthusiasts to describe asset that has has little or no value. Often lacking clear purpose. We are already familiar with most these Shit coins like Doge coin, pepe, Monaco in, Dogelon Mars, shiba inu (memes coins) Floki inu etc.
During 2021, single SHIB (shiba inu), token could be purchased for a microscopic of $0.000000000073. Some 12 months later, these same coins were going for about $0.000034, SHIB deliver a historic gain of approximately 46,000,000% in a year that was enough to make investors who'd put a little over $2 to work at midnight Jan 2021. 1 millionaires.
As this great profit applied so as the risk most shit coin presale had been used to scams investors with false communities. And sometimes ones some shit coins deep they may never bounce back again because of the lack of purpose. To me I will say is a short - investment
What you guys think?
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I am looking that the shiba inu team is trying much to make it better if you take a look on burning they are burning and burning the tokens in last 24 overs they burned much tokens and now the shiba inu price is at $0.00001 so they are trying to reduce the supply of the coin.
But we can't say anything what will be the future of the this coin.
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Some people have used these shit coins to trick investors and do dishonest things. Als..., if a shit coin loses a lot of value... it might never go back up because it doesnt have a clear purpose or value. So if you invest in these coins..., you should think of it as a short-term thing and know that there is a lot of risk involved.
It is really important for investors to do a lot of research and understand what a cryptocurrency is for how much it's worth... and what risks it has before deciding to invest in it. The cryptocurrency market is very unpredictable and can change a lot... so it's smart to be careful and think about your own money situation and how much risk you are comfortable with.
If you are comfortable for this so you have an option to invest in these kind of shit coins. But in my point of these don't have any future. So you keep away from these coins.
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We can't condemn all shit coin and assume they are all trash. When it comes to crypto investment, the primary agenda of the project team matters most but unfortunately, we can't tell what they have installed for the project. In a case where we happen to come across a new project, there is a 50percent chance that the project might succeed, and a 50percent chance that it might not.
If you as a person solely have the believe that a project might turn out great in the future, then take the risk and invest what you can afford to lose.
note: some shitcoin project has benefited so many.
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It's okay to invest in shit coins but the fact still remains that Bitcoin is the safest asset to invest in, investing in shit coins is a tp/50 gamble because you'd hardly know what coin you'd just buy that'll just turn out to be a scam token and you end up loosing money.
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It's okay to invest in shit coins but the fact still remains that Bitcoin is the safest asset to invest in, investing in shit coins is a tp/50 gamble because you'd hardly know what coin you'd just buy that'll just turn out to be a scam token and you end up loosing money.
Yeah the thing is that is just two ways that why most time is funds you can risk is advisable to use in purchasing Shit coin during their presale. But if the token is legit with a large community the person that invest on it will surely make nice profit with even when the funds invested was small.
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Yes, some altcoins are good investment, I know myself I've benefited from altcoins in the past, but the problem is figuring out which coin is safe and which is not, because most of them coins are scam tokens and you could hardly differentiate.
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Before you dive into altcoins investment, study and understand the project, analyze the market cap and liquidity.
Altcoins are for short term hodl, high risk, high rewards/loss, you must not hodl altcoins for more than 6 months. If you're looking for a long term hodl buy BTC.
Make una nodey buy coin/tokens due to popularity or promotion as there plenty fake influencers shillers on YouTube and crypto space. Enter, take profit and Japa
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It's important to tread carefully in the world of altcoins, bro. While there are still some worth exploring, the majority seem to be pump-and-dump schemes or outright scams. Unfortunately, many new investors fall into the trap of putting too much money into these altcoins, enticed by the promise of quick profits. The problem arises when these investments turn sour, leaving them with a bag full of essentially worthless coins.
If one decides to dip into the realm of altcoins, it becomes imperative to conduct thorough research. Understanding the fundamentals of the altcoin, its use case, and the team behind it can significantly mitigate risks. Alternatively, opting for well-established and popular altcoins can provide a more stable investment environment, reducing the likelihood of unpleasant surprises.
When it comes to cryptocurrency, making informed decisions is key to avoiding heartaches and financial setbacks. So, whether you're considering lesser-known altcoins or sticking to the reputable ones, a cautious and researched approach is the name of the game.
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Anythings alt coin should be trade with care and proper watch. They pump at anytime they like and after the pump some might get dumped forever. So if you want to trade altcoin you need to understand the kind of altcoin you are diving into and it's background.
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Just look well and invest, they are not bad to invest but when you invest in the wrong ones then you will know that it is better to look before jumping. Di factors wey person go look well before dem go invest in altcoins have been tok. Only dey invest do most popular ones and not the one wey never get plenty feedback in their life time. Yes e dey good to invest in shitcoins but make you dey be careful.
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Investing in shitcoins is more like gambling with your money. These were just what I was talking about some minutes ago, still on this board. Some years ago, my friends made me buy some shitcoins whose price was about $0.000000001, but up until today, many of those coins are just there in my wallet, and they are still worthless. Trying to list some of them, I have safeBTC, I have baby Doge, baby Shiba, propel, wakandainu, and I also bought one token that is named Shitcoin. I actually bought that shitcoin on the Digifinex exchange. I spent about $50 to buy the token, but my invested amount is now worth $1.
Before an investor must invest in shitcoins, he or she must actually be aware that they are putting their money at risk and should be prepared for whatever result they get. They could end up losing their money or making just a little profit after a long wait.
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Straight bullet answer, shitcoins are not good for investment and as a matter of fact, there is nothing but a waste of money and resources, don't go for them, they are just gambles, all they are after is to sink your money.
So if you already call them shit coins, why then should you consider them a good investment or even a bad investment, shitcoins are worst than Ponzi and does more harm than scammers since they give false hopes at most.
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Straight bullet answer, shitcoins are not good for investment and as a matter of fact, there is nothing but a waste of money and resources, don't go for them, they are just gambles, all they are after is to sink your money.
So if you already call them shit coins, why then should you consider them a good investment or even a bad investment, shitcoins are worst than Ponzi and does more harm than scammers since they give false hopes at most.
Well I agree with you ;D but sometimes it's not okay to put all egg in one basket . However, trading altcoin should be to the lowest investment as low as 1%
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I will advise anyone that is new to crypto to stay away from ahitcoins as they are mostly used for pump and dump projects. Whoever thinks that he wants to gamble in the crypto market can invest in shitcoins but before then, you should make a proper research about the coins that you want to invest on in a short term so that you don't end up investing on the wrong coin and run at great loss. Shitcoin is good for trading because of the hype on the price and if you are lucky, you will make profit because they are for short term investment. I will prefer to stick only to bitcoin and nothing else, because I know that bitcoin will last for long a d it will give you a good profit when you invest in a long term duration.
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I will advise anyone that is new to crypto to stay away from ahitcoins as they are mostly used for pump and dump projects. Whoever thinks that he wants to gamble in the crypto market can invest in shitcoins but before then, you should make a proper research about the coins that you want to invest on in a short term so that you don't end up investing on the wrong coin and run at great loss. Shitcoin is good for trading because of the hype on the price and if you are lucky, you will make profit because they are for short term investment. I will prefer to stick only to bitcoin and nothing else, because I know that bitcoin will last for long a d it will give you a good profit when you invest in a long term duration.
There are shit coins worth trying but as you've said it's not advisable for beginners as it might be very tricky and also starters should know therea difference between Altcoins and Shitcoins although they are generally categorised as Altcoins but shitcoins are coins with relative low amount of price value as low as 10E-7
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Shit coins are someworth invaluable but are just there to keep the Crypto space vibes going on. Truly shit coins made millionaires overnight and it worked out for the early adopters who were quick to tap into the market at the earliest stage of it. I remembered when I first saw Shiba Inu and it was 12 zeros down and and at the earliest stage but I did not give it a second thought but it dawned on my that before I could realise, it pumped up very fast likewise safe moon too. I saw them at the beginning but I was very curious and sceptical of the both token at the same time which made me I could not Tao into it. Although I was able to get safemoon but it was a bit up compared to when I first saw it but I got some buck from it and it was of good benefit to me then.
One thing I have realised with this shitcoin is that you should always take advantage of the market and be smart enough to know the market trend so that whales do not dump on you as the coin is worthless as the name says. Do not let your emotions lead you in a shitcoin market. Be smart and vigilant.
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Well I agree with you ;D but sometimes it's not okay to put all egg in one basket . However, trading altcoin should be to the lowest investment as low as 1%
If you're a newbie who knows nothing about cryptocurrency, putting your eggs in different baskets will only harm you because there's a good chance that all of the projects you'll invest in, all of the shitcoin you'll accumulate, will be scams because most newbies or beginners tend to follow what they see on the news, and once they see an article about a shitcoin exploding, they'll rush to start buying.
So, beginners, stay away from shitcoins. When you understand the concept of research or what to look for when researching a project, you can begin investing and make sure to do it gradually - don't say, "Because I have the money, I'll just invest everything at once," because that project you're so confident in may turn out to be a pump and dump project.
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There are shit coins worth trying but as you've said it's not advisable for beginners as it might be very tricky and also starters should know therea difference between Altcoins and Shitcoins although they are generally categorised as Altcoins but shitcoins are coins with relative low amount of price value as low as 10E-7
Altcoins is for those that want to take the risk, just like gambling. You can freely and easily invest in altcoins, but you cannot say for sure if the project can pump and generate profit for you, and that's why newbies are usually advised to stay off altcoins until they understand the risk facts of investing. Someone said that we can't condemn investing in altcoins, which I actually agree with because many people have actually made profit from altcoins while others have lost money.
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Well I agree with you ;D but sometimes it's not okay to put all egg in one basket . However, trading altcoin should be to the lowest investment as low as 1%
So, beginners, stay away from shitcoins. When you understand the concept of research or what to look for when researching a project, you can begin investing and make sure to do it gradually - don't say, "Because I have the money, I'll just invest everything at once," because that project you're so confident in may turn out to be a pump and dump project.
Remember I added some conditional statements like "sometimes" and" as low as 1%". This doesn't mean a beginner to jump into it with no knowledge, or even invest generally but they shouldn't be left out , for example an investor could have $500, $ 495 could go on BTC while $5 can purchase a thousand of a particular shit coin 8)
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As this great profit applied so as the risk most shit coin presale had been used to scams investors with false communities. And sometimes ones some shit coins deep they may never bounce back again because of the lack of purpose. To me I will say is a short - investment
What you guys think?
For me I don't like Shitcoins right from the onset do to experience and seeing what happened to most investors funds and also how so many scammers are using it to extort money from investors, I believe that one of the reasons why there are so many Shitcoins nowadays is because of the interest of people on Shitcoins because so many persons believes that they can easily get rich overnight considering how most of the Shitcoins normally pump, perhaps just like Shiba inu, without knowing the fact that other Shitcoins may not behave the same way as shiba inu.
So actually for me the only coin I'm sure of is Bitcoin and nothing more, I'm not disputing the fact that other coins are not good but they can never be compare with the potential of Bitcoin.
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As this great profit applied so as the risk most shit coin presale had been used to scams investors with false communities. And sometimes ones some shit coins deep they may never bounce back again because of the lack of purpose. To me I will say is a short - investment
What you guys think?
I agree with you that most shitcoins are for short term investment. They are mostly pump and dump coin that are there to make project owners benefit and find value for their project through other people’s investment in them. Once the aim is achieved, they dump the coin and exit the market. No much shitcoins are still valuable today but Shiba Inu is still up there because of how the project owners are keeping it alive at the top with other top cryptocurrencies. Despite their market cap, I still regard it as one that cannot be fully dependent on. When you invest in shitcoins, just have in mind that you are risking your money and may or may not reap any good from it. As it serves as a way to get money quickly when you’re lucky it is also very risky to lose all of your money in them when they dump and don’t go as expected.
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To me I described shitcoin as a non reputable token or coin to hold, this kind of tokens can either dropped drastically to 100 percent meaning you can find it zero dollars without having any market value. That is why we must know the kind of token and coin we should invest on, people mostly go for the hype coin where they makes all forms of noise on facebook, twitter and any other Media platform just to deceive people around.
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I will advise anyone that is new to crypto to stay away from ahitcoins as they are mostly used for pump and dump projects. Whoever thinks that he wants to gamble in the crypto market can invest in shitcoins but before then, you should make a proper research about the coins that you want to invest on in a short term so that you don't end up investing on the wrong coin and run at great loss. Shitcoin is good for trading because of the hype on the price and if you are lucky, you will make profit because they are for short term investment. I will prefer to stick only to bitcoin and nothing else, because I know that bitcoin will last for long a d it will give you a good profit when you invest in a long term duration.
There are shit coins worth trying but as you've said it's not advisable for beginners as it might be very tricky and also starters should know therea difference between Altcoins and Shitcoins although they are generally categorised as Altcoins but shitcoins are coins with relative low amount of price value as low as 10E-7
I could say there is nothing like your own experience but when it comes to risky things like this it's better to stay low and go with the actual coins that has some reputation, although some shitcoins are the ideal coins to buy during a bull season period like this that most coins tend to sky rocket but the only issue now is actually knowing the right shitcoin to buy that can pump up and give you that desired profit. So many people have lost a lot due to the menace that the actual owners use their influence in controlling the coins to alter their rate in the market and that's why you see that some shit coin tend to lose value whenever and that's why its never advisable to try them if you are not experience but how would be experience with trying out things first hand yourself.
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I could say there is nothing like your own experience but when it comes to risky things like this it's better to stay low and go with the actual coins that has some reputation, although some shitcoins are the ideal coins to buy during a bull season period like this that most coins tend to sky rocket but the only issue now is actually knowing the right shitcoin to buy that can pump up and give you that desired profit. So many people have lost a lot due to the menace that the actual owners use their influence in controlling the coins to alter their rate in the market and that's why you see that some shit coin tend to lose value whenever and that's why its never advisable to try them if you are not experience but how would be experience with trying out things first hand yourself.
Exactly you've said it in your post that the issue is knowing the right shitcoin to buythat can pump up and give you desire profit and that's where the main problem lies because most projects sttted up Currently are scam project which will eventually rip off their potential investors but how do we know,that's why shitcoins could be very dangerous though little investment can get you a thousands of coin but what if all investment on shitcoins in which one choses tends to be a scam. All investment gone without traces ;D probably not because its clearly seen in your wallet but completely useless because it's being dumped. However, I will just categorise it along with altcoins as a risky investment
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There are some shitcoins that doing well so if you want to invest anyone then make some research nd invest in it. And when you are investing in it don't rush and use small amount of money to do that so that in case the project did not stay long or collapsed in the process, it won't pain you that much. Shitcoins are good to invest but you have to be careful because not all are good to invest.
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At first what's Shit coins, these are term commonly used by cryptocurrencies enthusiasts to describe asset that has has little or no value.
As you take describe am na so e dey.
Shit coins just dey worthless I no go advise anybody make em invest in shit coins. The only time wey shit coins fit perform magic na em be during bull run period, and e no dey advisable make you hodl am because the project fit melt anytime.
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Actually I don't believe on shitcoins because they can easily be manipulated by media influencers and most of them use it as an opportunity to make money by hyping the shitcoins for investors to come in and at the end they make there money leaving investors hanging, so perhaps why think about shitcoins while we have Bitcoin that's very trust worthy and the best coin in the world that has a very good potential, so to me Bitcoin is my only option.
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There are some shitcoins that doing well so if you want to invest anyone then make some research nd invest in it. And when you are investing in it don't rush and use small amount of money to do that so that in case the project did not stay long or collapsed in the process, it won't pain you that much. Shitcoins are good to invest but you have to be careful because not all are good to invest.
Shitcoins are only use by gamblers to see if they can try their luck to make huge profit, but most times it turns out to be a great loss for them. This is because the dev are wise and they created them with the intention to scam people of their hard earned money. It is greedy investors that will forget about the making research on the best coin to buy, like bitcoin, and they will want to buy a new coin that will give them fast profit. Someone of them even know that bitcoin is the superior but they cannot wait patiently.
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Shitcoins are only use by gamblers to see if they can try their luck to make huge profit, but most times it turns out to be a great loss for them. This is because the dev are wise and they created them with the intention to scam people of their hard earned money. It is greedy investors that will forget about the making research on the best coin to buy, like bitcoin, and they will want to buy a new coin that will give them fast profit. Someone of them even know that bitcoin is the superior but they cannot wait patiently.
Wetin you talk na de koko. Dis devs no get conscience, as them create the shitty token, their intention na to just pump and dump am and after them don run their investors street, dem go move over to the next project. So anything wey person dey do with shittycoins na gamble. Some investors wey later blow through some of these memecoins like Dogecoin, PEPE, Shiba Inu no go tell you some of their failures, them no go tell you how many time the scam them.
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@Sokani
So what are you insinuating ¿?
Your point was supportive but you ended it with an inconclusive statement
Some of them even know me investors wey later blow through some of these memecoins like Dogecoin, PEPE, Shiba Inu no go tell you some of their failures, them no go tell you how many time the scam them.
So are we saying we should continue investment or you should elaborate more.
I understand your point but you need to rephrase what you mean ..
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@Sokani
So what are you insinuating ¿?
Your point was supportive but you ended it with an inconclusive statement
Some of them even know me investors wey later blow through some of these memecoins like Dogecoin, PEPE, Shiba Inu no go tell you some of their failures, them no go tell you how many time the scam them.
So are we saying we should continue investment or you should elaborate more.
I understand your point but you need to rephrase what you mean ..
What I wrote and what your quoted aren't the same. As you can see you replaced part of it with something else and you made it look as if I don't know what I was saying.
(https://www.talkimg.com/images/2024/01/29/ko4RZ.jpeg)
Wetin I dey talk be say the people wey invest in some of the successful memecoins wey I mention above no go tell you how many scam projects wey dem been invest, wey dem lose their money. Dem just dey lucky say one of dem com jellof and them blow through the memecoin.
I no support shittycoins from the beginning of my post and I no support am at the concluding part.
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I no support shittycoins from the beginning of my post and I no support am at the concluding part.
There has been a mixup while I was editing the quote but I've rectified it already
I'm not saying you shouldn't support shitcoins , I'm just trying to bring out the fact that investors need to know how shitty a token is before investment and the one's you've mentioned had been a great and solid one worth investing as an Altcoiner.
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@Sokani
So what are you insinuating ¿?
Your point was supportive but you ended it with an inconclusive statement
Some of them even know me investors wey later blow through some of these memecoins like Dogecoin, PEPE, Shiba Inu no go tell you some of their failures, them no go tell you how many time the scam them.
So are we saying we should continue investment or you should elaborate more.
I understand your point but you need to rephrase what you mean ..
What I wrote and what your quoted aren't the same. As you can see you replaced part of it with something else and you made it look as if I don't know what I was saying.
(https://www.talkimg.com/images/2024/01/29/ko4RZ.jpeg)
Wetin I dey talk be say the people wey invest in some of the successful memecoins wey I mention above no go tell you how many scam projects wey dem been invest, wey dem lose their money. Dem just dey lucky say one of dem com jellof and them blow through the memecoin.
I no support shittycoins from the beginning of my post and I no support am at the concluding part.
to be honest yeah shit coins are not encouraging to invest on. But still can't ignore the fact that it as also change alot of people life like shiba inu. But most of this project aim is just to scam most people who have the mindset that all shit coins can make them rich overnight. If you even thinking of investing in such project you need to be active and to be following up with their news and chart because one's it's pumb it may be it last before it may experience a dump all through. So if you invest in such shit coins just stay alert and one's it's rise sell asap. And run with your funds because if most shit coins experience dumped dey ain't coming bouncing back
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No, I can't invest in shit coin. The name alone should have made you to know the type of coin it is. Any one investing in shit coin should be careful lest you lose your money. Some developer usually dump the project. What happens to your money when the coin is no longer in existence?
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Let's not generalise things because we might have faced in the hands scammers, so many shitcoins are good investments, but the problem is identifying the good ones, no doubt bitcoin is the safest digital asset or investment but we should note that many people have the mindset that putting all their eggs in one basket in respect to digital investment is not wise, that's you see people looking for different coins to invest in, and don't blame anyone one thinking that way, the only time I can blame a potential investor is when he or she doesn't have a good basic knowledge of what he wants before investing.
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Let's not generalise things because we might have faced in the hands scammers, so many shitcoins are good investments, but the problem is identifying the good ones, no doubt bitcoin is the safest digital asset or investment but we should note that many people have the mindset that putting all their eggs in one basket in respect to digital investment is not wise, that's you see people looking for different coins to invest in, and don't blame anyone one thinking that way, the only time I can blame a potential investor is when he or she doesn't have a good basic knowledge of what he wants before investing.
Finding good shit coins pretty hard. Because most of them after purchasing or gaining them through airdrops they may endup not having any value or they may endup being a scam project which kinda pain in the butt I will say those that benefited from shiba inu, peppe and the others where Indeed lucky those coin has eventually endup changing alot of individual lives for the better.