Bitcoin Forum

Apparently you can. Unless I'm mistaken I thought confido (https://coinmarketcap.com/currencies/confido/) was a scam coin. Recently the rest of Confido team was refunding their collected ETH for Confido tokens through KuCoin exchange. However some people started buying confido at a higher price than what the team was buying, eventually from 0.07$ went up to 1$ and still costs 0.34$ right now. A coin that has literally no uses, no devs, nothing and yet if you had or bought coins when it was 1-2 cents, not long ago, you could have made a x30 - 50 almost with a scam coin. Are people really this uninformed when it comes to buying coins? Is there something that I'm missing here?

The problem is that when the price tips even a little bit, some people think that the coin is "going up again", and so they put up buy orders and drive the price up.

You can become "rich" by being stupid if everyone else is just as stupid.

This whole thing is a scam, and it's just bouncing around like crazy. The people who bought it at 1 cent were  "smart" or at least strategic. You spend a measly $100 on that thing and it goes up 100x and it's a quick 10k.

You won't miss the $100 at all, on the other hand, and can probably even get it back for 1 cent.

It is up to us how we are going to learn our lessons after incurring a mistake, yes we are naturally stupid but with the help of other people, friends and family and through personal experiences we are learning things, so if we wanted to get rich it depends on us how we are going to push to it.

''The people who bought it at 1 cent were  "smart" or at least strategic.'' Actually to be fair, people who bought at 1 cent were still stupid. Why on earth would you think a scam coin would ever bounce back? There are plenty of other coins that just die and eventually get to 0 volume, there is no reason to ''invest'' in a confirmed scam coin. You wont miss 100$ but if you do this every dead coin, you will just lose all your money.

This is just an example of how stupidly easy is to get rich with cryptos, pick 10 random coins, throw 100$ into each and hold. You don't even have to hold for too long, eventually at least one of them is going to ''moon''. Sometimes it's random, sometimes the coin is shit and still explodes. The volume of the coins is so low that anything can happen and I'm not saying that's a bad thing, I'm saying it's extremely easy right now to win money.

The billionaires always buy while everybody is at scare

only if you win the lottery and even then a stupid person will not "remain" rich which is the more important part of getting rich.

and other than winning the lottery all the idiots are losing money even if they don't admit it. sometimes they are dumber to notice they are losing money in total too ;)


fill in the blanks and you would be talking about most of the altcoins out there.
and the thing is, people don't care these days. they only want profit in short term. most of the times they see it as a form of gambling. instead of rolling the dice they come invest in a random altcoin.

Yes, we still can. We were stupid at first
 But, because of our stupidity, we've learned a lot of things. We learned not to make the same mistake again. We learned to be cautious and vigilant. And that's for me, stupidity is just one step forward from getting richer. We can always learn from our mistakes and be better next time.

Please abstain from posting useless comments.


Yeah but, the difference is that confido is a confirmed scam, other coins are shit, that's true but they at least have devs still working on them. Many of the top 100 coins were shitcoins not long ago (some still are) but the devs were still working on them. Confido is literally a dead coin yet has more volume and marketcap than many other coins. I just find it funny that someone who bought at 1-2 cents when the coin was dead would have made a x50 thanks to ignorance.

Its no secret that you can get rich with scam coins, joke coins, coins without a product, or whatever. You just need to invest at the right time and exit at the right time before it gets dumped hard.

Many coins are scam or simply made out there for profit. Look at recent big pump TRON, I've been reading that even their whitepaper is pure copy etc. and other indicators that are showing it could posibly be scam coin. It doesn't matter to people as long as they can pump some coin flip money and exit with smile on their faces. This is why crypto trading has no big point when we will end up with millions and millions usless coins that will be used simply for speculation. I don't like this idea but this is what it is, but people are blind and just look for profit and don't really care whats certain coin about.

Yeah and Bitconnect is for sure a Ponzi, but as long as people are greedy and think that they can make some easy $$, even when its a obvious scam, they put money in there and the price rises.

although it is not a scam, dogecoin is the one of the example of these.

they made 2 billion market cap. it is really very surprising.

Of course, we are in a runaway speculative bubble.
Doesn't mean the entire cyrpto space will pop, but the fervor and money being made on shitcoins will at some point...
Until then, get while the gettin' is good!
I prefer to even the odds a little bit by using these guys:

https://discord.gg/CQ6gkPf
https://discord.gg/CQ6gkPf
https://discord.gg/CQ6gkPf

The thing is that the current crypto atmosphere has changed drastically in the past few months.

Now it's all about the newest fad that can do 10x or something - doesn't matter if there's a working product or even if the coin is good in any way!

Too bad - just have to play by these rules, and it is what it is...


It's a great way to make money, I agree. However, I wonder who is losing the money. If you earn money and cash out, you are depleting the buy wall which will drive prices down.

People are holding, and so everyone thinks they are making gains. Until a mass sell-off occurs, and then people realize they weren't holding that much to being with.

My buddy would have had about $12,000,000 with Verge had he not sold prior to the recent huge pump.  I would have had about $1,500,000 but I, too, sold prior.  Definitely money to be had on some of the "shitcoins" out there.

Oh yeah so many scams so little time. Every shitcoin a potential pump and dump play though. Especially if you get in early.

Too many shitcoins who have no business in cyprospace making people rich. It starts first with the ICOs where projects that could basically succeed with just a whitepaper and a basic website demand $40 to $50 million dollars from investors. This is where the owners of the ICOs make their money.

Then the investors who do not bother to research and ask important questions but are quick to buy the coin/token because it is about a cent. All they know is x10, x40 x100 e.t.c of their investment and this happens when the shitcoin with no meaningful usecase is being pumped and the early investors make quick profit. By the time the late investors, get into the game the shitcoin is dumped hard on them. And the cycle continues elsehwere. Many no longer bother what a coin can really do.

Amen.

I don't think those people buying it understand the true picture behind the project, some people only buy coin because of price action and I won't be surprised that majority of those people are not.

It's not the coins making people rich. It's the other people who buy the coins. Then when the people cash out, some are left holding worthless bags.

You have 500+ posts here but question if people are really this stupid and uninformed?  You must not actually read anything.  :o

Not sure how smart a long term strategy this is, but if you can time it right...why not?

It is very similar to today's trone, people have inflated a lot of information, they are starting to buy and raise the price, but it is not being developed and liquidity is very weak. You just need to analyze all this and not chase your profit.

Look at Electra for example.
The "devs" are pure scammers and pumped coin like 100x in a span of few weeks.

Its just a constant game of pump and dump. The annoying thing is some of these crappy coins get better returns than ones that are fundamentally solid. In the long run though I think it is still worth doing your analysis.

But thats only if you sell it when it gets very high right?  I noticed there are many coins that go up in price and it seems like for no reason at all.  So you mean buy a coin, then once it goes up a lot, just sell it for profit right?

Well that's exactly whats funny about this example. People bought a dead coin and then some other people bought more of it at higher prices. The fact that it still has 100k+ volume right now is just really funny.


Yeah, it seems that you can buy 30 random coins right now and if you hold long enough you get profit from all of them. There are indeed coins that go up randomly, I thought it was mostly pump up groups but it seems sometimes is just people stupidity

I mean, I have seen plenty of shitcoins rise and whatnot but this one just seemed extra comical knowing it's a scam coin and the devs ran away with the money. I mean if you go to : https://coinmarketcap.com/currencies/confido/ and click basically any link or look at the chart, it's very easy to tell something bad is going on. First link which is their website literally says that their project failed and that they will try to refund people. Second link which is bitcointalk: https://bitcointalk.org/index.php?topic=2173212 The first post in that link says ''FUCK YOU JOOST. WE WILL FIND YOU!''

I understand people are uninformed and stupid, I just never thought they could be this uninformed.

still it makes everyone feel hesitant because when you play in the coin scam then the risk to lose the funds you have become larger.

People made a fortune with XVG, with Ripple, with so many coins that might not be blatant shitcoins but for sure dont have a unique selling point at all.

this is crypto, every hype can make you rich.

There is still a difference between shitcoins and literal scam coins or dead coins, same thing. I just find it funny that you can buy something that's a scam and profit from it even without knowing anything about it.

I don’t know if it’s a scam or not . I honestly don’t care but it’s true that you can get rich by trading any coin in markets even if it’s a scam project . You just need to know when to buy and when to sell.

Times have changed... just a year or two ago none of this would have been possible... few ICOs, no "startup" coins, and every coin had to be backed up and examined extensively... people bought coins because they thought the technology would carry over.

Now it's just about the next fad. Blind money. No research. All hype.

I can't say that I'm totally guilt-free when it comes to this though.

ahha nice :)
you are not missing anything.. if its a scam coin, its also easily manipulated sometimes

Brundon.
Try this ICO for size LOOK FOR THE RENTAL CONTRACT TYPE COIN ICO INSIDE THIS SITE - not mine duh (https://cryptonomos.com/?r=1WXiRsOJA4HEGvWKhHSftcgFm)
And if the hat fits - hold it ( for a long long LONG time)

This is because people are buying just people other are doing it, without even checking the project.
Another example like this is Onion - ordinary alt, but surrounded by hype and people are buying it.

I really appreciate your comment. I've known coin builders community very well, on the right commercial site but it again scam later, though investors who know it very early also get a lot of profits. Therefore, the crypto market is very volatile, always be careful with your investment decision.

Hahaha you are very right, i have seen people making 100+ bitcoins by putting around 1 btc in a small coin and then they become rich in no time, recently Verge is an example.

Bear trap OP. Those order with high price not like infinite so we can't say anything.

I watched it pumped and LMAO. It shows there is really a ton of dumb money. And I myself am already pretty noob I believe because I am not a techie and don't quite understand the technicalities in whitepapers and all. But obviously this shows investors are even googling the coins they are investing in, because a simple search would have showed the scam CFD is (which is exactly why I didn't buy in). Now wishing I was dumb enough not to at least google the pros and cons of the coin. hahaha. But yes the level of dumb money is quite worrying and no surprise how weak these hands are in the current alt shitstorm.

This is not only because of people buying them and placing buy orders. Pump&Dump groups pump lot of shitcoins daily, and after that people buy more because after the dump, coin is 20-50% more than before so people just buy them because they are cheap and are getting higher.

I used to buy in Cryptopia between $25-$50 of some shitcoins recently listed. After that I always place a sell order for 3-5-10 depending how many satoshies they costed me. I was lucky that some pnd groups picked some of this shitcoins and I got BTC when they hit my 3,5 or 10x sell order  ;D ;D

This is happening more and more. Lot of people also buy shitcoins because they know that maybe a pnd group could pick the coin.

The recent crash was probably needed. This cannot be sustained any more, you can't just ''invest'' your money on anything and get a profit, specially a fucking scam coin.

The volume seems pretty low, so I don't think anyone is getting rich off of this coin.

I really love that quote, "We are naturally stupid." That understanding I think is so important in the crypto world, because it keeps a person with an open mind of unseen realities and possibilities. Being able to see things in different perspective, if one understands that we don't know everything.

lmao qft

"You can become 'rich' by being stupid if everyone else is just as stupid." LOL that might be my new favorite quote.

You aren't missing anything but what you have glosses over is that while this is an obvious scam there are many coins in which people hop in full well knowing they are scams or ponzis yet they hop in anyway. Take Bitconnect for example the signs were everywhere and literally every thread had it labelled as a scam. Yet it made the top 10 and tons of people probably invested in it, that just goes to show you how greedy and lazy people are that they will throw money at anything. Look no further than that example to see scam coins while stupid will probably always be relevant in crypto until some regulation happens.

There is new trend, find a coin, that is very cheap, like price less than 10 satoshi and supply in some millions,then buy this coin, it does not matter whether there is any product. I saw people buying coin in exchange that have no information, who developed it , what the purpose of coin, Thinking of working product and roadmap is distant dream from them. On top of it there are some scammer in chat of exchange who is promoting a scam coin and some people are actually buying it also.

Confido is crap, and that coin is just being used for pump and dump purposes, nothing more than that, because it has "no" value. It is just like Bitconnect, a lot of people are buying it just for speculation purposes, to see if they can earn a little bit more in a few months from now, but that is impossible.

This has been the altcoin story from day 1.

Yes, and what I'm thinking off is through fame. You have teenager rappers, or Justine Beiber types who are not too bright. Rappers that through heavy influence of culture think they are amazing because they tattooed their face, and have committed crimes for street cred. In their eyes they are the definition of success in life. And the reason for that is because a lot of young dumb people also believe it too. That to me is a rough example, but hopefully expresses my point.

Edit: Apparently I'm in the wrong thread due to having this tab open. 

What are they speculating exactly? Both confirmed scams, why would anyone buy them for speculating purposes? What is there to speculate, there will be no news, no advancements, no devs, it's retarded.

the speculation hype has been crazy. pump and dumps are real

That is true, but there are also things that are not quite right. Actually if you go trading sites, and if you see a new Altcoin coming up in the market, some of you might ignore it. People tend to want to trade into cryptocurrencies that are already well known and certain. That's because the new Altcoin will usually experience drastic price increases. But you should know that the new Altcoin is still fresh it can bring a lot of profit if you manage well. The problem is, we do not know if all Altcoin can bring profit all or some scam. For that it is very important for us to share our money and not just invest to one Altcoin only. Anyway, the choice is yours.

I mean, what the hell is wrong with bitconnect, it drops to 5$ and recovers to 30? It's a confirmed scam and everyone is reporting about it and yet there are still people that buy that shit? Crypto world is truly amazing.

If you are stupid but become rich then that is not stupidity but it was luck. Luckily for you that many investors  choose this coins accidentally and you will become rich. This is a common situation like the other coins that people are dumping their coin not realizing at the end it will pump up very hard and luckily for those who did not sell their coins or buying it not knowing it for any reasons. Therefore stupidity is not acceptable but its just you are accidentally a lucky guy.

No - not quite $5. I know that because had it dropped to $5 my order would have been filled.

Anything will bounce a bit if you throw it from high enough - BCC's dead-cat bounce is perfect for day-traders to make some quick money.

It is because people are stupid , people are still buying bcc after it has been proved a scam. When someone wants to believe in a project they won't care what people tell them. They will blindly follow.

Nobody was expecting that situation from Confido, in fact, when i saw it getting listed on Kucoin my eyes were like "WHAT THE FUCK?" How was it possible? I am not saying that it was a BAD project, but they were a scam one, and they have stolen everything..

Yes, you can get rich with scam coins, people try to get rich quick and start buying without proper research.

I do not think people are stupid, They are just greedy.  They know, they will sell the scam coin to some new guy in higher price and get profit. 90 percent coin are just scam coins created by scam developers.
How can people having access to internet can be stupid and blind. They are just blinded by greed and when scam exposes they act like they were blind.

Since when can not you make money with scams? It's always like that because people are greedy and stupid. You can make a lot of profit but the risk is also very high. The dev always have total control over the coins so they can always cause panic to buy low and then pump the price to sell high. That's why many people want to create their own altcoins so they can profit.

PERFECT EXAMPLE:
Sisa.Fund
Bitconnect
Confido (well, the dev's are not managing this one anymore)

But Sisafund was a huge scam in here, and a lot of people lost more than thousands in there, it was like a massacre.

Did you buy any tokens yourself? The only way for it to be a scam if you bought any tokens, You don't know if people were buying them for a higher price, It could be the same people buying them.

The market is not rational, it is driven by emotions, this is something you need to understand very well since it is true not only for the big markets but for anything, that is why TV ads try to manipulate your emotions instead of just presenting the facts of why their product is better, so the answer to your question is yes, people can earn money with scam coins as long as there is some hype behind it.

the manipulator or the whales is smart
or maybe the developer and the team is smart to move the price
current rate for the token for now is $0.177134 USD (-6.94%)  0.00001392 BTC (-14.97%) 0.00015519 ETH (-14.28%)
it is about the same price with last year price

It's true that people can still make money from scams but they need to be quick in getting in and out before the door shuts. Those who came in last are the poor victims.

AFAIK, scam coin is the coin that vanish after ICO or pre sale, they took early investor's money away.

Scam coin that you mean is not end with scam but they show many sign of scamming,right ?
The project have their own way to attract new investor as long as they achieve the sales target

Yes, most of the crypto profits are based on greater fool theory investing. As long as there is another dude out there which rolls also the snow balls and motivates other people to buy in we will grow.

This is not really apparently , this has been happening for the past few years . That is why people always say to do your research on the project you are investing in . Because a lot of devs have dumped on everyone and disappeared.

Why did you surprise too much? When you see so called investors in this business you can't believe your eyes. People give and take advices in public scam facebook groups, telegrams, slacks, discords etc. There are too many lil fish that have almost no knowledge. They don't know coin's purpose, have never read whitepaper, don't know team members but they hear from somewhere and invest (throw money) in it. You can make very good money with scam ICO's. It's all about packaging and market (manipulation)ing. :)

True.Some of the coins with completely zero potential can get x10+in just few weeks.I think this ia the proof , that people are only after traiding money,not an actual project success profit

Getting in as fast as they can is by dumping the coin at the ICO price to make their immediate profit. Note, these large holders does not sell all, and at a very long run, the price starts bouncing back. Those who comes in last, and they are patient with holding, they gain even more than the heavy dumpers.

Everything requires sacrifice, so we will experience. Anyway we have to keep working hard in order to get maximum profit. I ever get a scam coins, indeed earnings is not as much as if not a scam coins, however it can profit

More like they blind by their own greed. They know for sure something off from it but still buy for 'much gain'. Yeah, greedy idiots.

Yep, happens all the time.. coins with nothing valuable... COUGH MASTERNODES COUGH - Although I've capitalised a lot off these "gems" lol

You clearly do not understand a single word of this thread, he is just talking about projects like Confido, and Bitconnect, who are scam, ponzies, or however you want.

But a lot of people is trading with them and making a bunch of money..

I understand the thread fine thankyou.. I added my own perspective.. sounds like you're heavily invested in masternode coins, nice try though

If that scam coin already placed on exchange people will still buy it even the coin is a scam, especially the whale, always find a way to get profit and they can do big pump on that coin. Actually there are many cases like that, scam/trash coin but one day the price suddenly pumped to x10-20.

Yes thats what frustrates me at the moment about crypto.
When a new ico comes out people only buy into it with the intentions of dumping when it hits the exchanges.
This helps to provide a market for scam ico's
The markets are controlled and manipulated a lot of the time by whales and pump groups and some people actually think its ok to join in.
Some people dint care about scams as long as they can take part and not get scammed themselves.

I can understand what are you trying to say and yes there is the possibility of profiting even from a scam coin till there is a demand which moves the prices ups and downs. so if you are investing your hard earned capital in some scam coins and if there is anything going ups and downs then you can earn a 10x profit or even loss 10x of your capital amount all depend on the matter of time when you are selling it and how long you hold it. Even previously there was a scam with crypto coin where we were refunded with almost 11x time our invested money.

Yes, they are really not well informed about the coins they are investing with. Newly regular person who invested in some coin doesnt research at all, all they do is to listen to what other investor who join the coins (which most are shill investor). Shilling is widespread here in this forum and it attracts investor because they taught that it was a "real" person who invested.

We cant blame them for their actions since they are new and they taught that it was all for real, once they got caught in the web of a scam coin they will learn to take some measure before they actual buy or invest in alt coins.

Many people are complaining about shitcoins and many are regretting not buying or even selling shitcoins before the huge price increase. I decided to invest small amounts in some inferior coins just to wait and see. Just about $50 per coins (which often results in having 10k or more) and the waiting game begins. In some cases I experienced a x10 at some point, and luckily even a x100. I removed them from my BF/Delta so I am not bothered with it ;).

I really wanna do this but I hate having so many different exchanges, lazy to set up more. I guess I like to gamble haha