Apparently you can get rich even with scam coins.

[Bardman]

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?

[Enjel]

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.

[budz0425]

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.

[Bardman]

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.

''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.

[AldenGreen]

The billionaires always buy while everybody is at scare

[BrewMaster]

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

A coin that has literally no uses, no devs, nothing and yet if you had or bought coins when it was blank cents, not long ago, you could have made a xblank almost with a scam coin.

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.

[Kamote_1102]

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.

[Bardman]

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.

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

A coin that has literally no uses, no devs, nothing and yet if you had or bought coins when it was blank cents, not long ago, you could have made a xblank almost with a scam coin.

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.

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.

[Chrizz]

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.

[lizardbtc]

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?

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.

[Chrizz]

Yeah but, the difference is that confido is a confirmed scam

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.

[okan]

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?

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.

[Peaky Fookin Blinder]

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

[Enjel]

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.

[Ganglo Saxon]

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.

[kumara]

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?

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

[kevoh]

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.

[Chrizz]

Too many shitcoins who have no business in cyprospace out 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.

Amen.

[jacafbiz]

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?

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.

[Enjel]

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.

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.