Why people keep "investing" money in shit/memecoins? Genuine question.

[bitkanu]

Because shiba inu made 88 MILLION percentage gain in a year.

that can't be a reason why they invest in the meme token but a quick rich scheme should be the good one. Shiba was booming due to the elon musk.People are starting to speculate what will be next coin will be shilled by elon. The meme token trend was so crazy. that makes the marketcap site being flooded by so many shit tokens. meme token made so many people are loosing their brain and they are only care with their pocket lol. This is the most funniest trend in the crypto every. Scam token everywhere and so many newbies got scammed due to the investing into the shit scam meme token created by scammer but they never learn it.

[bluebit25]

covetous,

stupid,

selfish,...

These are qualities we easily see in these people. Too limited awareness causes them to narrow themselves down. And I feel really sorry for them to be one of such people. Anyway, I hope people always see making money in one field or another as just a part of life's meaning.

[babygun]

The reason is simple, get quick rich schemes still keep busy minds of new investors who keep investing in meme altcoins. Several years ago only ICO was used to scam the other people's money, now NFT and meme coins are there for exact same reasons. I doubt these assumptions will change soon since people ignore the recommendations by pro traders and go for quick money making methods.

Exactly! People always are greedy and want get rich quick schemes! I also invested in some meme coins (money that I am willing to loose) just in the hope to get a quick x2 or more. It is possible but you really need to have a good timing and a lot of luck. I would never hold these for the long term.

[cabron]

The reason is simple, get quick rich schemes still keep busy minds of new investors who keep investing in meme altcoins. Several years ago only ICO was used to scam the other people's money, now NFT and meme coins are there for exact same reasons. I doubt these assumptions will change soon since people ignore the recommendations by pro traders and go for quick money making methods.

Exactly! People always are greedy and want get rich quick schemes! I also invested in some meme coins (money that I am willing to loose) just in the hope to get a quick x2 or more. It is possible but you really need to have a good timing and a lot of luck. I would never hold these for the long term.

Who wouldn't want to get rich?  Because it's a get-rich-quick investment, it's going to be worth investing for all even the old crypto investors are also into memecoins, however, are not posting they are buying them.

The investors who are not going to get rich of course are the ones who have not got the tokens for the cheapest as a 1 Gwei. Buying the token for at least 25Gwei is almost late already.

[Skinny48]

I won't lie shitcoins brings the biggest profits if you know your way around them, the way is buy at very early stage of release and wait for just weeks the higher the volume grows the faster your money climbs up so just find an exit point.

[bakasabo]

I won't lie shitcoins brings the biggest profits if you know your way around them, the way is buy at very early stage of release and wait for just weeks the higher the volume grows the faster your money climbs up so just find an exit point.

I think that buying shitcoin on early stage or at any other stage does not matter a lot. Because everyone that has bought a meme coin straight after its topic appears here in ANN, would be rich. The idea of earning through meme coins is to hit the trend. If you are lucky, the meme coin you have bought will rise huge demand. The difficulty is to know what will be in trend tomorrow or in future. With meme, that is something impossible to predict.

[maydna]

Those people want to make fast money from meme coins they see on social media, so they will do many ways to join in the trend and invest in many meme coins. Unfortunately, they do not research before they invest in the coins instead just buy from the market and hold it. The early people who purchased the coins will benefit, while the next investors will not profit because the trend is already down. The greed will come to them if that is about money, and only people who can research and know when to leave will benefit.

[kotajikikox]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?



This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

Those are who wanted to explore the market finding a GEM , they are trying their best to be instant millionaire , and instead what they are getting? losses lol .
this shit projects are here just for sole  purpose , to victimize people here that has greed attitude to find speed income and they are mostly the victim .

[X-ray]

I won't lie shitcoins brings the biggest profits if you know your way around them,

Yeah but that totally depends on how early you can get into the shit token. If you are a part of early buyers and you're so lucky but if you have not become a part of the early buyers and then say bye to your investment. I have seen my friend was getting rugpulled by this shit scam token. The early you joined the more profit you got it. As far as i know see the majority of meme token players are only doing hit and run. They will be jumping to the another shit token again once they have done with the one.

the way is buy at very early stage of release and wait for just weeks the higher the volume grows the faster your money climbs up so just find an exit point.

The question is how can you know that? there are bunch of shit tokens in the market but become early buyers didn't give you guarantee if you will be getting profit caused by the pump that happened with it. Some shit tokens projects are even rugpulling their investors before they can be listed on the dex or exchange site and how about that? joining in this ponzi scheme is totally depend on your luck. If you are lucky enough and you will able to take profit from the market.

[peter0425]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?



This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

When the time People in crypto Invented the word "GEM" ? this is the answer to your question mate because people are use to seek more income , they even believe in Scam that promised them big earning so best not to wait for your funds to die eventually , invest only what you can afford to lose and invest the funds that you know you can leave for long term without expecting big that soon.

I won't lie shitcoins brings the biggest profits if you know your way around them, the way is buy at very early stage of release and wait for just weeks the higher the volume grows the faster your money climbs up so just find an exit point.

Of course since shitcoins are mostly use for manipulation , but if you are the luckiest one then you will profit , and how many like you needs to lose for you to earn?

[imamusma]

I won't lie shitcoins brings the biggest profits if you know your way around them, the way is buy at very early stage of release and wait for just weeks the higher the volume grows the faster your money climbs up so just find an exit point.

The problem is finding the exit point when you enter the shitcoin because getting into the shitcoin is entering into a very big risk even though there are some people who are profitable, but it can't be used as an initial reference to enter there because everyone's luck will not always same.

[The Sceptical Chymist]

Why people fall for that, yet?

It's because crypto is red hot at the moment (and has been since the last crash in 2017, actually) and people just want to try to discover the next bitcoin.  It's never gonna happen, but that won't stop people with money to burn from trying.  There's also this:

Shit and Meme coins like gambling.

I'd say most of crypto investing is gambling, but if you're buying a coin that has no use whatsoever and can't be used as money....that's gambling, plain and simple.

I also think a lot of folks are watching popular crypto Youtubers and reading stuff like that Reddit post, and there's a sort of mentality that makes people want to belong to the clique that's investing in whatever the hottest coin/token is.  A lot of people are being misled, too.  Those Youtubers aren't making videos out of the goodness of their hearts; they're either earning ad revenue or they've got paid sponsorships, so they have to come up with ideas for videos whether they believe in those ideas or not.  On top of that, it's likely that many of them are just hyping coins that they've already purchased in the hopes of driving up the price.  You know, the ol' pump & dump scheme, which we've seen happen repeatedly.

[Wahyuihib]

Every new trend that comes will have a big impact in crypto trading. as is the case today. meme is here to give hope to all users. therefore, every alt that smells of memes will have a lot of fans for now.

[bittick]

I won't lie shitcoins brings the biggest profits if you know your way around them,

Yeah coz that's gambling with the hype. No hype no pump and newbies will be starting to call it as a scam after it turns to be a trap. People who have invested  in shit tokens are totally wanna try to gambling with it. They have no intention to invest based on fundamental. They are looking for the hype and then when they late and they lose all of their money. Those people are the most stupid people ever exist in crypto. Even some people are making their friends as their victims. They told their friends to buy at the peak price and what a shame.

So many meme suppoters are also blind and they have no brain to think. Never try to realize the reality of meme token pretty similar as structured ponzi scheme. Look at what happened with shit scam grimace token. This scam token is everywhere.

[blockman]

Every new trend that comes will have a big impact in crypto trading. as is the case today. meme is here to give hope to all users. therefore, every alt that smells of memes will have a lot of fans for now.

Not really. It's not hope that it's giving to everyone but a way to gamble their money. Because when there are investors that have seen the hope that they'll make money from the meme coins, it's with a higher risk than the usual.
There's no guarantee with the meme coins and you don't know what awaits on it and that's why risk is higher than expected. But those who were able to sell at the top, maybe they're still with the meme coins because it's the type of coins that made them wealthy so, they're still staying on it no matter what the crowd say.

[Quidat]

Every new trend that comes will have a big impact in crypto trading. as is the case today. meme is here to give hope to all users. therefore, every alt that smells of memes will have a lot of fans for now.

Would really be just part of the history but it couldnt really be forgotten since it had once become a trend which did really result that much interest with meme coins but doesnt mean that it would always
be giving off hopes to all users.Profit  opportunity would always be on the corner and its up to someone whether they would tend to engage with it or simply skip because they do prefer on investing
on other coins.Its a matter of choice though and will and targets that they do have in mind and since people does have different perspective on certain things or simply not
really just the same with others.

[macson]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?

snip

This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

100% of those who invest in meme coin are those who wish to get rich in 1 night and that's their goal without thinking about anything else.  it's your personal right to invest wherever you like, it's just that you have to be able to distinguish which investments have a future and which don't, while meme coins don't have a definite future, price increases are only expected on hype.

[timerland]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?


This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

Realistically, it's a bit of both.

Seasoned veterans in the crypto wild west capitalize on the ignorance and naivety of those who are less experienced. Memecoins don't have much of a future, but these people know how to play the psychological game and hype things up in the short term to look like the best investment you'll ever make in your life.

Newcomers believe these people because they have wide social reaches. This is actually a huge problem that runs deep - this almost gambling-like craze that goes on peoples' minds when they first enter crypto.

[nimogsm]

Every new trend that comes will have a big impact in crypto trading. as is the case today. meme is here to give hope to all users. therefore, every alt that smells of memes will have a lot of fans for now.

It's a little sad to realize that this phenomenon is a new trend.Today, 100% of the scam is masquerading as it tokens that have no good goals.There is only one task to sell them your tokens and get a valuable cryptocurrency in return, and almost legally.If people like to feed scammers, that's their problem.

[Renampun]

It is something that bugs me till today. Are they mostly newbies trying to find a path to enter cryptouniverse or experienced people who are just gambling to score a moonshot on luck?

...

This is the "meme" rank on coinmarketcap, there's millions on deflationary tokens with no effort from the "devs" at all. Just copy/paste a code, copy/paste a whitepaper, eventually pay few bucks for a domain and that's it.
Why people fall for that, yet?

Stopping people from investing shit/memecoins is a very difficult thing to do...

To be honest, I'm actually quite tired of hearing complaints from people who have lost from shit/memecoins investments, but when they first wanted to put money down, they didn't want to listen to advice. The fantasy of high ROI obtained from investing shit/meme coins is very tempting but we all must be aware that it is just a fantasy, not reality.