Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: vs2014 on January 14, 2024, 06:40:58 PM
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
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found out later in 2021 that my sister bought Shib when a friend told her that this is the next Bitcoin. the exact amount you said $100 for this memecoin. i only knew when she had to ask whether to keep it or sell. and so i told her to dump them while the price is high. she managed to profited just about 1200%.
if she didn't asked me. she would have kept them because she thinks its already the next BTC which price could go more than $1. just imagine it that you have 50B of SHIB and its worth is $1. a newbie will be waiting forever.
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
Memecoins are like gambling where we don't know how much profit we can make or whether we can make some profit or not. Because there is no use case of meme coins they are totally driven by the community means they are community driven just like Dogecoin which not only driven by the community but influencers too, I am talking about Elon musk. He is the only person who drives the price of Dogecoin.
Shiba and doge plays an important role in convincing people to invest in memcoins, because these two shitcoins have made people a lot of money and now people are always on hunt of memcoins like these two so they invest a small portion of there capital in such tokens in hope to win some big profits. That's why I said investing in such tokens is fully equals to gambling.
That's why when investing in memcoins, only invest what you don't fear to lose and on what your lives are not dependent.
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found out later in 2021 that my sister bought Shib when a friend told her that this is the next Bitcoin. the exact amount you said $100 for this memecoin. i only knew when she had to ask whether to keep it or sell. and so i told her to dump them while the price is high. she managed to profited just about 1200%.
if she didn't asked me. she would have kept them because she thinks its already the next BTC which price could go more than $1. just imagine it that you have 50B of SHIB and its worth is $1. a newbie will be waiting forever.
That's the exact opposite scenario with my friend. He never asked me before investing in Shib. He came across a video on social media that gave him some reasons to invest as much as possible in Shib. He got influenced by it and decided to buy $300 worth of the memecoin. Initially, he made some profit and kept holding the coin without informing anyone, even me. However, after a few days, the value of his investment dropped to $50. He panicked and sold his holdings out of fear of losing all his money. It was only after he sold that he told me that he bought a memecoin.
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Still lucky to have only $20 left, usually new memecoins that only take advantage of the hype will eventually be worthless and never listed on any Cex.
It would just be junk coin and have no value at all.
Many beginners do take advantage of the memecoin hype moment by buying random memecoins, even though there is no guarantee of profit.
There are more losses than gains.
Who enters first, those who benefit, but those who enter last will only receive losses.
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
Not only meme coins but almost all altcoins. They are good for who can be able to speculate and use them to gamble. They will increase very well and fall back very well. Their so much high volatility makes them good for gambling. But like I said, this should not only be about meme coins but also most altcoins. DYOR and be careful.
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True. Many new investors try to be rich quickly by investing in meme coins. They know that meme coins can increase in a short time if there is a good hype on the meme coins. So they expect to take the advantage by buying meme coins and plan for selling the meme coins in a short time. But they don't know investing in meme coins is very risky. The hype can be over at any time. When they fail to take profits, they may lose the chance to get money.
Yes, the beginners invest $100 and expect to get $1000.
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True. Many new investors try to be rich quickly by investing in meme coins. They know that meme coins can increase in a short time if there is a good hype on the meme coins. So they expect to take the advantage by buying meme coins and plan for selling the meme coins in a short time. But they don't know investing in meme coins is very risky. The hype can be over at any time. When they fail to take profits, they may lose the chance to get money.
Yes, the beginners invest $100 and expect to get $1000.
I am sure that those investors are aware of the risks they are taking. Just like other investors who have made sudden huge profits on other investments, investing in meme coins can be a one-time jackpot that these investors are aiming for. Besides, this can also be a valuable learning experience for them, as investing in meme coins is not the same as investing in other top altcoins that are good for long-term investments. Some investors believe that buying more meme coins and holding them for a long time will make them millionaires, but this is not necessarily true.
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
There's actually a chance of making money as quickly as possible with them, but the same thing applies to how the risk in them are, you can quickly lost your money in them, but we can play a little more safe by making adequate research about them before anything, also, I can't advise a newbie to start with altcoins when they aren't used to the whole challenges in them, a newbie needs to learn or invest as little as possible they can afford to loose on altcoins for the benefits of their learning.
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Many investors have lost money investing in memecoins because they believed they would make more than Bitcoin with a low ROI. There are many legitimate cryptocurrency project, but there are also many investors that invested in them just to lose money when the price decreased due to the reduction in the price of Bitcoin. How much more in memecoin, which offers no assurances.
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
Memecoin are meant to be highly volatile and they are useless also, they have no use case in the crypto sphere they are totally influenced by people's interests. If people are talking about them they can give you some profit as more fame means more demand and vice versa. Sometimes, you hear of some meme coin from some VIP group and think that it can make you 100x or 1000x even. Yeah, I have seen groups that are saying they can make 1000x from this memecoin.
But in reality, they also don't know that investing in meme coins is near to gambling because in gambling we don't know what outcome we will get, same in meme coins we do not have an idea of what outcome we will get. As we can also lose our all funds. Therefore the best practice is to invest what you don't care to lose.
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Not only memecoins, i will tell newbies not to rush into buying altcoins, they are more risky that BTC and many of them do not have use cases. If you buy BTC as a newbie and store it for a long time, you can be sure you will make returns, but the case is not the same for altcoins, so many of them end up as dead projects, so you have to be careful of altcoins you buy.
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
That's how it should be, it's not recommended for newbies to buy Memecoin because after all memecoin is a very high risk coin. No matter how good the project they claim is, if it is a Meme Coin, the potential for the group to pull or drop after the hype will be very high. There are many examples of MemeCoins projects that have the same development cycle which in the end will still turn into shit coins.
so who loses? Yes, beginners, you don't understand the cycle and don't understand when to enter, when to exit to get profits. Meanwhile, old investors who already understand how to play it will definitely make a profit, especially for the developers.
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Buying meme coins is pushing your luck too much and it's almost the same as gambling. There is no data that can be analyzed except the target number of coin holders from the developer's perspective. Their goal is just to pump and pump, otherwise there is no definite business model. I personally don't recommend it in the short term, and strongly discourage it in the long term.
Regarding the many people who benefit from memecoin, make sure you understand that everyone's luck is different. Everyone cannot copy other people's luck, even if they have the same strategy.
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
They are not if only because of Shiba and Pepe whose investors made a lot of money when these two meme coins exploded in the market, now investors are on the look for the next meme coin that will explode and make 1000 times their investment.
but with hundreds of meme coins coming it is hard to check what the next meme coin, will make it on the market, every meme coin claims that they are the next meme coin to explode, so many investors lose money and continue to lose money.
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Unfortunately, new users are the ones who fall into this "trap" the most. They listen to what their friends or family say, they believe what the "influencers" say in YouTube videos... It is very difficult to make money with memecoins since even the most veteran users usually lose money due to the operation of that market niche. There are also very few new users who are trying to understand and learn how the market works and then decide which project to invest in. Beginnings are always difficult, but it would be less so if people in general had more patience.
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Re: Newbies never buy memecoin quickly.
Nah. Let them buy meme coins.
I'm dead serious. Let the newbies buy some meme coins.
In investing, you will not learn if you will not commit mistakes. Those successful investors right now didn't become successful because they did everything right. They're successful now because they learned from their mistakes. Being successful in investing isn't easy and along the way, you will experience mistakes. Investing into meme coins might be a mistake for most newbies to do, but believe me when I say that there are a few newbies out there who made money through investing into meme coins, and yes it's pure luck, but they still got profits.
In the end, it's all up to them if they will buy. If they'll lose money then they must take it as a lesson.
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Many new investors about memecoin get ideas from YouTube and directly invest in this coin. I have seen many videos on youtube where it is said about this coin that if it is possible to invest in this coin then in the future an investor can become a millionaire. If such a comment is made directly about any coin then it is natural that newbies will definitely be more interested in investing and will invest in this coin without knowing anything. But I won't tell all YouTubers that they are only talking about investing in this coin or for sure, except for some YouTubers who say that if you buy this coin now for $10 or $20 then you will get this coin in the future. May give you something good. There is definitely a difference between making a comment like this and making a comment with certainty. New investors must give weight to comments that are made with certainty.
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I would suggest newbie dont to buy memecoins from the very beginning of their crypto path. Better get familiar with popular altcoins; something from top100 and try investing or trading. Extremely hard to get good profit with memecoins. There are too many of them, and from the start find something that is not scam is difficult. After getting more experienced, more familiar where is dangerous to invest, and where is not, would be time for memecoins.
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Investing into meme coins might be a mistake for most newbies to do, but believe me when I say that there are a few newbies out there who made money through investing into meme coins, and yes it's pure luck, but they still got profits.
In the end, it's all up to them if they will buy. If they'll lose money then they must take it as a lesson.
A fortune that comes unnoticed because buying meme coins gives huge profits.
If a beginner gets a meme coin that gives a lot of profit, believe me it will never come a second time.
But when there are some disadvantages due to meme coins, it can indeed be a valuable lesson for beginners.
But before that happens, it's better to learn the failures of others about meme coins.
Learning doesn't have to recognize failure first, but learning from other people's mistakes is also necessary.
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Please if u consider buying it a mistake then I would like k e to request that u point me to the right path because I am new in crypto currency,thank you.
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Investing into meme coins might be a mistake for most newbies to do, but believe me when I say that there are a few newbies out there who made money through investing into meme coins, and yes it's pure luck, but they still got profits.
In the end, it's all up to them if they will buy. If they'll lose money then they must take it as a lesson.
A fortune that comes unnoticed because buying meme coins gives huge profits.
If a beginner gets a meme coin that gives a lot of profit, believe me it will never come a second time.
But when there are some disadvantages due to meme coins, it can indeed be a valuable lesson for beginners.
But before that happens, it's better to learn the failures of others about meme coins.
Learning doesn't have to recognize failure first, but learning from other people's mistakes is also necessary.
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Please if u consider buying it a mistake then I would like k e to request that u point me to the right path because I am new in crypto currency,thank you.
If you mistakenly buy a meme coin and want to know what to do next, the first thing you should do is check if you've made a profit. If you have, it's best to sell it right away instead of holding onto it for a long period of time. On the other hand, if you're at a loss, you need to decide whether to cut your losses and sell it or hold onto it for a while to see if the price will increase again. As I mentioned, the risk is too high. It's better to cut your losses and invest in another altcoin to recover your losses.
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If you mistakenly buy a meme coin and want to know what to do next, the first thing you should do is check if you've made a profit. If you have, it's best to sell it right away instead of holding onto it for a long period of time. On the other hand, if you're at a loss, you need to decide whether to cut your losses and sell it or hold onto it for a while to see if the price will increase again. As I mentioned, the risk is too high. It's better to cut your losses and invest in another altcoin to recover your losses.
First of all, I don't think anyone buys anything by mistake, not even memecoins. I don't recommend newbies to buy memecoins (I really don't recommend buying any coin/token, as that needs to be studied by each person), but if they do it they have to take risks (I think unnecessary) as newbies, and that is not good at all, since they will not act rationally in the face of “losses”, even if they are only temporary.
We already know that it is a personal decision and that everyone will do what they want with their money, but in case of buying memecoins it would be best to buy small quantities ($50 - $100). If these amounts are lost it should not be a problem since they are acceptable, that way we would also learn. DYOR.
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About memecoins, if you just invest on them being a newbie without having the required education and orientation about investing on them, also, we can make investment on a very little amount of money we can easily afford to loose, this will serve as an avenue for us to learn more while in use of that little investment we make, there are shitcoins that many people are not just aware of their existence not until they invested in them.
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If you mistakenly buy a meme coin and want to know what to do next, the first thing you should do is check if you've made a profit. If you have, it's best to sell it right away instead of holding onto it for a long period of time. On the other hand, if you're at a loss, you need to decide whether to cut your losses and sell it or hold onto it for a while to see if the price will increase again. As I mentioned, the risk is too high. It's better to cut your losses and invest in another altcoin to recover your losses.
First of all, I don't think anyone buys anything by mistake, not even memecoins. I don't recommend newbies to buy memecoins (I really don't recommend buying any coin/token, as that needs to be studied by each person), but if they do it they have to take risks (I think unnecessary) as newbies, and that is not good at all, since they will not act rationally in the face of “losses”, even if they are only temporary.
We already know that it is a personal decision and that everyone will do what they want with their money, but in case of buying memecoins it would be best to buy small quantities ($50 - $100). If these amounts are lost it should not be a problem since they are acceptable, that way we would also learn. DYOR.
It is still possible for newbies to mistakenly invest in memecoins without doing any research. I have encountered many such investors who don't realize that the crypto they invested in is a memecoin. They may have purchased it due to its low price and hoped for long-term profitability. Mistakenly buying a memecoin doesn't always mean that they bought it unknowingly or they have some other coins in mind, but it could also be because they lack knowledge about memecoins altogether.
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About memecoins, if you just invest on them being a newbie without having the required education and orientation about investing on them, also, we can make investment on a very little amount of money we can easily afford to loose, this will serve as an avenue for us to learn more while in use of that little investment we make, there are shitcoins that many people are not just aware of their existence not until they invested in them.
We need to change this kind of thinking. New investors should not rush into investing without proper knowledge. If an investment does not work out, we should not consider it as a learning opportunity. Instead, we should advise them to invest their time and money into credible online courses or videos to gain proper knowledge about investing. Investing is not a trial and error process. It is important to have proper knowledge before investing any money to avoid losing it.
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About memecoins, if you just invest on them being a newbie without having the required education and orientation about investing on them, also, we can make investment on a very little amount of money we can easily afford to loose, this will serve as an avenue for us to learn more while in use of that little investment we make, there are shitcoins that many people are not just aware of their existence not until they invested in them.
We need to change this kind of thinking. New investors should not rush into investing without proper knowledge. If an investment does not work out, we should not consider it as a learning opportunity. Instead, we should advise them to invest their time and money into credible online courses or videos to gain proper knowledge about investing. Investing is not a trial and error process. It is important to have proper knowledge before investing any money to avoid losing it.
That's true I agree with you, cryptocurrency as a whole is not something of chance it's something that requires dedication and study because once you invest there is no going back. Thank you for sharing your opinion.
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Most new investors buy memecoin because they think there is a chance to get rich quick from crypto. So they are buying a memecoin for 100$ because the amount as a coin is high. However later it appears that the project is becoming useless because they are too weak to do development activities to survive in the crypto market. Also later that investor lost 100$ to 20$.
Gone are those days when people look at decentralization of a project before they invest, look at the security and speed, look at the team, look at what the project is going to do in real sense, look at what investors are going to benefit but today, an anonymous person will create a token out of blue and then called it the next big thing in crypto and everyone will rush into it and invest all they had because they want to make it so quickly.
Doge and Elon musk should be blame for this but I think people are to be blame more because they intentionally invested where they like and you can't tell them not do what's in their mind. You can basically see people prefer meme coins than even real coins and I think it's their choice and what they want to do.
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It is still possible for newbies to mistakenly invest in memecoins without doing any research. I have encountered many such investors who don't realize that the crypto they invested in is a memecoin. They may have purchased it due to its low price and hoped for long-term profitability. Mistakenly buying a memecoin doesn't always mean that they bought it unknowingly or they have some other coins in mind, but it could also be because they lack knowledge about memecoins altogether.
Thanks for the clarification, now I understand better what you said in your post. But I still see a problem... The first (and only) thing a newbie should do before investing is to study the market and the coin/token he wants to invest his money in, and at that point I think that person will know if he is investing in a memecoin or in a project related to IOT(for example).
No one should invest without having dedicated hours and hours to reading and learning, otherwise we already know what can happen. Serious economic problems and even bankruptcy. Even after a long time it is something that can happen to us. Knowledge is our ally in this case.
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In my opinion, memecoin has the potential to instantly make someone wealthy or cripple their invested money. It acts in such a manner. Those that invest in it are merely taking a gamble game because they have no idea how the price will go in the future (profitably or losing).
Given how volatile their prices are, I have never once thought of memecoin as a viable long-term investment due to its massive circulating supply, you as an investor can lose a lot of money within a day, depending on how much you invest. As such, it should not be trusted for long-term investment plans.
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It is still possible for newbies to mistakenly invest in memecoins without doing any research. I have encountered many such investors who don't realize that the crypto they invested in is a memecoin. They may have purchased it due to its low price and hoped for long-term profitability. Mistakenly buying a memecoin doesn't always mean that they bought it unknowingly or they have some other coins in mind, but it could also be because they lack knowledge about memecoins altogether.
Thanks for the clarification, now I understand better what you said in your post. But I still see a problem... The first (and only) thing a newbie should do before investing is to study the market and the coin/token he wants to invest his money in, and at that point I think that person will know if he is investing in a memecoin or in a project related to IOT(for example).
No one should invest without having dedicated hours and hours to reading and learning, otherwise we already know what can happen. Serious economic problems and even bankruptcy. Even after a long time it is something that can happen to us. Knowledge is our ally in this case.
That's the primary problem for newbies. They often think of how to make money without spending enough time to gain knowledge or at least do their own research to identify the coins they should buy. Most of the time, they are being hyped by other people and if they lose money, they have realized that the first thing they should do is learn things about crypto investing.
Indeed. If we have sufficient knowledge, it becomes our sole tool in achieving success. Knowledge is crucial, and not only applicable to cryptocurrency but everything in our surroundings.
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That's the primary problem for newbies. They often think of how to make money without spending enough time to gain knowledge or at least do their own research to identify the coins they should buy. Most of the time, they are being hyped by other people and if they lose money, they have realized that the first thing they should do is learn things about crypto investing.
Indeed. If we have sufficient knowledge, it becomes our sole tool in achieving success. Knowledge is crucial, and not only applicable to cryptocurrency but everything in our surroundings.
I agree with you. But even having a good base of knowledge about trading, at some point we are going to suffer losses. That is something undeniable. "Experts" also make bad decisions and lose money. That's why I'm not surprised that many newbies curse cryptocurrencies, it's something I've seen on several occasions. But the fault is not how this industry or the market works, it is solely their fault for listening to advice that does not lead them on the right path.
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In my opinion, memecoin has the potential to instantly make someone wealthy or cripple their invested money. It acts in such a manner. Those that invest in it are merely taking a gamble game because they have no idea how the price will go in the future (profitably or losing).
It is not only your opinion but it is the fact. I agree that investing in meme coins is like gambling. It is difficult to know how the price of meme coins to grow or fall. If it grows massively, someone can be rich suddenly. But if the price free fall, someone may lose their money. It is the coin that only relies on the hype, it has no clear fundamental.
Given how volatile their prices are, I have never once thought of memecoin as a viable long-term investment due to its massive circulating supply, you as an investor can lose a lot of money within a day, depending on how much you invest. As such, it should not be trusted for long-term investment plans.
Indeed. Meme coins aren't the right options for a long term investment. We have no problem with the unstable price because almost all crypto coins have the same condition. But the problem are about the supply that seem almost unlimited and there is no fundamental. With this condition, it will be too risky to hold for a long time.
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That's the primary problem for newbies. They often think of how to make money without spending enough time to gain knowledge or at least do their own research to identify the coins they should buy. Most of the time, they are being hyped by other people and if they lose money, they have realized that the first thing they should do is learn things about crypto investing.
Indeed. If we have sufficient knowledge, it becomes our sole tool in achieving success. Knowledge is crucial, and not only applicable to cryptocurrency but everything in our surroundings.
I agree with you. But even having a good base of knowledge about trading, at some point we are going to suffer losses. That is something undeniable. "Experts" also make bad decisions and lose money. That's why I'm not surprised that many newbies curse cryptocurrencies, it's something I've seen on several occasions. But the fault is not how this industry or the market works, it is solely their fault for listening to advice that does not lead them on the right path.
Exactly, expert traders can even make bad decisions sometimes and have a bad experience of losing their trades, even if they have knowledge and experience. While some newbies which are inexperienced traders enter the trading without having the knowledge or experience. Newbie traders should not allow themselves to be influenced by other people when it comes to their trading, especially if they know to themselves that they don't have the knowledge and expertise required to initiate successful trading. In trading, it requires skill and knowledge, and it is not something they can simply rely on luck to make money.
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I would suggest newbie dont to buy memecoins from the very beginning of their crypto path. Better get familiar with popular altcoins; something from top100 and try investing or trading. Extremely hard to get good profit with memecoins. There are too many of them, and from the start find something that is not scam is difficult. After getting more experienced, more familiar where is dangerous to invest, and where is not, would be time for memecoins.
Good advice, I agree with you, newbies should know the top 100 coins, learn the project, team, character and also learn the market trend.
Don't buy meme coin, It's really risky.
Meme coins are just FOMO.
I have lost a lot at the past.
I suggest to buy top coin, If newbies want to invest in crypto currency.