Apparently you can get rich even with scam coins.

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 Grin

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.

Quote from: budz0425 on January 09, 2018, 03:30:00 PM

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.

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.

Quote from: iwouldntknow on January 10, 2018, 04:44:23 AM

Quote from: Bardman on January 09, 2018, 03:02:14 PM

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?

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

lmao qft

Quote from: Enjel on January 09, 2018, 03:14:12 PM

Quote from: Bardman on January 09, 2018, 03:02:14 PM

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.

"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.

Quote from: negamus on January 18, 2018, 06:37:01 AM

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.

Quote from: Bardman on January 09, 2018, 03:02:14 PM

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

Quote from: indijim on January 18, 2018, 09:15:25 PM

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.

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.

Quote from: Bardman on January 09, 2018, 03:02:14 PM

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.

Quote from: Bardman on January 20, 2018, 12:45:48 AM

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.