Be careful of shitcoins

[erikoy]

Yes for the beginners it is good to stay around this section and read the rules and regulations. Aside from the be newcomers should be cautious all the time and should not rush things especially when being offered to a something good. This is an old school trick but still effective so be aware of it always. And try also to read the testimony here to know how the scam works. Of course this include the risk in investing shitcoins. Full of good promises but in the end it will end up in giving bad news and full of reason. Others are doing refund but most are just running away.

[Maestro75]

I saw the price increasing at first, I thought if I invested in it the coin price will continue to increase, I was new to crypto at the time and nobody to put me through to avoid mistakes.

What happened to you happened to alot of us. It is not a big deal to make mistakes in a business you are new to. The big deal will be if you fail to learn your lessons from the mistake.

[Cryptoababe]

Before I invested. I check coins team. No matter what the value is. I check twitter page, Reddit, Discord and the team. I also check the purpose of the project. Before investing. I've bought some coins recently and Ive not regret buying any of them. I also bough Some SLP at 0.003 usd  and now I'm looking like  .
Many people tends to invest because of low total supply. This is not the good way. Because some real project total supply might be much but the circulation will be just a dime or even if the circulation is much and the project has a real purpose just like kardiachain, there won't be loss for investors.

My experience :
Some years back. I invested in a token called empowr coin also.
Now its nothing.
I also invested 100  dollars. Then, I know nothing.

[Mauser]

I saw the price increasing at first, I thought if I invested in it the coin price will continue to increase, I was new to crypto at the time and nobody to put me through to avoid mistakes.

What happened to you happened to alot of us. It is not a big deal to make mistakes in a business you are new to. The big deal will be if you fail to learn your lessons from the mistake.

The thing is that most new altcoins get some advertisement in the first months of their launch usually attracting new investors and resulting in an price increase. But once the market is saturated people just tend to sell. I am being much more cautious now with altcoins and try to invest over time after doing more research.
There have been so many new coins already that it probably won't happen again with a new coin coming out and increasing a lot in just a few days.

[LbtalkL]

Way back in 2017 investing in new coins/tokens most of the time comes with a lot of profit because of the hype and bullrun but we are 2020 now. ICO days are gone, the hype is gone and we are not on bullrun. More people are educated now they will ignore not a reputable coin but there are still some not aware, Well, we all started as a newbie. Those useless coins have no future at all I prefer to invest in top coins only for smaller risks.

[Zotak337]

I believe this could be helpful for some people here on this forum as I falled into shitcoin trap. I could not believe I can lose my whole fund in just a little time and I want to use this forum to advice the newbies to be careful of shitcoins. I hope you all know how dumped price can wreck the funds of people that invested in such coin.

The coin was METP, I invested at the price of $0.0004 some weeks ago, but the coin is now at $0.000002, I invested $100 and it has now vanished, I do not even have $1 remaining again and it was a lost that really depressed me.

Recently, I checked the price since when it was launched in 2019, it was $0.01245, it has been fallen since after even till now, if I has first analysed the coin, I will not not fall into the trap, but I have no idea about analyses at the time.

I will advice people to analyse market and the coin that want to be used to trade or invest before buying such coin because some coins are just existing to take away your money before it becomes fully dumped.

Shit happens most especially in crypto space, risks everywhere, I don't know about that project honestly but it's not wrong to accept your loss but I will advice you to leave the shit coins in your wallet, crypto space is full of surprises and I've seen few this year, dead or shitcoins can bounce back up

[masulum]

Ready such a good speech.I also faced same problem when I bought Monero Gold(XMRG) when I see it in CMC.But that was a very bad Shitcoin and dumped hard and I lost my investment.So proper analysis is the most essential for altcoins investment.

Yes, indeed this has become a mindset for many newbie and doesn't have investment experience before. Because, many are asking beginners to start investing in crypto by suggest them to see CMC. Many articles that suggest this too, so we are easily trapped by it. However, be grateful for those of us who were victims of shitcoin in the early investment because of CMC. Because from here we are no longer easily fooled by ranking.

[Oshosondy]

Shit coin can make you filty rich and can also rekt you, if you do your research in choosing the right one you tend to have a lot of gains and if you don't do your research as OP didn't, you tend to loose all your money, I've seen shit coin move from $0.003 to $0.4 within just three days, imagine you invested 2 eth on it, that's pretty cool cash

Shitcoins are shitcoins, I am not talking about altcoins. There are many good altcoins but many are shitcoins. Shitcoins are coins that are subject to more fall in price like bump and dump of a coin. If you do your research and you see a coin to be good with professional analyses, then it is not a shitcoin if it does not dump in price and become a deadcoin.

[Natalim]

There' even no price in here https://coinmarketcap.com/currencies/metaprediction/

You fail in choosing the right investment, instead of looking for new coin, why not just invest on existing and solid coins.
Up to now, most coins in the market are still undervalued, so why settle for the new and unpopular project where the chance of success is very low.

If you can move on and learn from your mistake, just follow my advise, check the CMC, lots of coins with great liquidity, you can choose among them.

[l3pox]

the golden rule for investments is: higher risk, higher reward.

with shitcoins you can lose a lot of money and you can earn a lot of money.

using risk management is a must

[20kevin20]

the golden rule for investments is: higher risk, higher reward.

with shitcoins you can lose a lot of money and you can earn a lot of money.

using risk management is a must

Speaking from my own investment, in order to make money with shitcoins you have to either quickly sell at the right time or be lucky enough to catch one that doesn't only boom temporarily out of all those dozens of thousands of coins.

Most coins you would've bought back before the last crazy bull run are still under BTC's increase in %. Only few lucky ones got to sell at a good shitcoin/BTC ratio. BTC is the winner in >95% of the times.

[robelneo]

So if you didn't know anything about it (you didn't analyse it), why exactly did you buy it in the first place? Surely you had some reason when there's so many shitcoins to choose from.

I saw the price increasing at first, I thought if I invested in it the coin price will continue to increase, I was new to crypto at the time and nobody to put me through to avoid mistakes.

Obviously you are a victim of the pump and dump scheme by other altcoins, it's very prevalent on new altcoins they pump their coin so they can attract investors who are looking on the market movement instead of on what's behind the project, this is very risky people should take time why the pump ans what causes it and is the coin really deserves the pump or people behind it are faking the volume.

[famososMuertos]

I believe this could be helpful for some people here on this forum as I falled into shitcoin trap. I could not believe I can lose my whole fund in just a little time and I want to use this forum to advice the newbies to be careful of shitcoins. I hope you all know how dumped price can wreck the funds of people that invested in such coin.

The coin was METP, I invested at the price of $0.0004 some weeks ago, but the coin is now at $0.000002, I invested $100 and it has now vanished, I do not even have $1 remaining again and it was a lost that really depressed me.

Recently, I checked the price since when it was launched in 2019, it was $0.01245, it has been fallen since after even till now, if I has first analysed the coin, I will not not fall into the trap, but I have no idea about analyses at the time.

I will advice people to analyse market and the coin that want to be used to trade or invest before buying such coin because some coins are just existing to take away your money before it becomes fully dumped.

Right now that there is this price stir, sometimes we can lose our bearings and get distracted from bitcoin and want to start new investments. Your OP is a good reflection of the situations that one may encounter and that may have happened to several users of bitcoin, no one is exempt from the temptation to invest. Fortunately $ 100 is not a big hit on the pocket of many, but in your case such a situation may have been really bad.
Thank you for telling your experience, to many of us It serves as an experience and reflection.

[Latviand]

Also, do not follow the hype of some coins, there are someone just trying to shill the coin itself or just hyping the coin up so there will be some investor that will be interested in investing, my advice is Do Your Own Research don't just invest because of the price dip, focus on the project itself team that's managing the future of the token.

You should not base your investment on what you are seeing in the people who uses shitcoins.

The market is the only thing you need whether you will invest to other potential coins.

It is your call, if you are just hyped about what you see in them then you will probably not know what is really happening in the market towards those shitcoins. Hype is always temporary and time will come that the hype that they are making towards a coin will disappear. Just have your own decisions and be dependent with your investments but be independent with other people.

[2chase]

All this once again tells us that we should not hope for a miracle, miracles usually do not happen, and if you inadvertently invested money in a project that you have not studied well enough, this will inevitably turn into problems for you in the future.

[crwth]

All this once again tells us that we should not hope for a miracle, miracles usually do not happen, and if you inadvertently invested money in a project that you have not studied well enough, this will inevitably turn into problems for you in the future.

It could happen, but it's highly unlikely now with all the shitcoins surrounding the cryptocurrency space. I think it should be a pure knowledge when investing, to have the background, and know what the currency has done and purpose. Most of the applications of the shit coins are repeating and no more innovation with the technology. What they want is the ICO part to be funded and just go away with it. That's their miracle, someone investing in the developed shitcoin.

[Smartvirus]

It takes experience and a lot more expertises to analyze and determine the feature of a coin. This experience is what most of the newbies don't have hence, should they pause as it regards investment?
It feels so unfair!
But, it's worth waiting if you could get the hang on it after all the waiting and learning rather than loosing your money in shitcoins. Put everything into consideration.

[gentlemand]

It takes experience and a lot more expertises to analyze and determine the feature of a coin. This experience is what most of the newbies don't have hence, should they pause as it regards investment?
It feels so unfair!
But, it's worth waiting if you could get the hang on it after all the waiting and learning rather than loosing your money in shitcoins. Put everything into consideration.

I'd say anyone doing careful analysis of technical parameters, 'partnerships' and community is basically wasting their time. None of that really matters. The only thing that does matter is pumpiness. Some of those things may induce pumpiness of course.

In 2017 all you needed to pump was a platform for it to pump on. It didn't even need to be a functioning product, or even one that actually existed beyond some nominal offshoot of it you can pump.

The most important thing people need in this area is a lack of emotion. The people who get married to a shitcoin are the ones who go down with the ship and years later they're still babbling about it taking over the world when literally no one else gives a shit.

If you see a profit grab it and don't look back. And you're probably better off not playing in the first place.

The same goes for people who work for shittokens on here as well. I don't know how common that is at the moment, but loads of people were slaving away for hours in 2017 for things that are now totally worthless. If you were offloading them as fast as you were making them you'd have something to show for it rather than still hoping for a future that never came.

[ololajulo]

So if you didn't know anything about it (you didn't analyse it), why exactly did you buy it in the first place? Surely you had some reason when there's so many shitcoins to choose from.

I saw the price increasing at first, I thought if I invested in it the coin price will continue to increase, I was new to crypto at the time and nobody to put me through to avoid mistakes.

Obviously you are a victim of the pump and dump scheme by other altcoins, it's very prevalent on new altcoins they pump their coin so they can attract investors who are looking on the market movement instead of on what's behind the project, this is very risky people should take time why the pump ans what causes it and is the coin really deserves the pump or people behind it are faking the volume.

The coin mention is not a familiar name to most traders, so I guess he bought from some fraud exchange or from startups. I think $100 is still a size you can look away. People have lost 100 to millions of dollars in this space and have not recovered. I sometimes like to advice that any purchase at the moment is good choice of time and select less risk project in top marketcap.

[Mrengage]

So if you didn't know anything about it (you didn't analyse it), why exactly did you buy it in the first place? Surely you had some reason when there's so many shitcoins to choose from.

He has already called it a shitcoin which we all know not all projects are shit definitely some will do better in future, but the main true fact is analysed the kind of shit you want to hold. In my wallet I basically have few shitcoin which am not putting my hopes on instead, I keep gathering more shitcoin because we don't know where the Lambo will come out From.😂🤣