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

[justdimin]

shitcoin promises a higher ROI than bitcoin and that is what traps many people into being tempted to buy it . I have some friends who keep telling me that meme coins will make him rich quick but so far he has never experienced that (he always loses), Bitcoin is always the best and most rational asset, unlike shitcoins or meme coins

Most of them promise nothing.

It is the mindsetting of every investor that have been chasing meme coins that they'll have a faster and higher ROI.

Those who got in early in these meme coins, they're the only ones that can make a lot of money from it. But the rest, who just invested newly, they should accept the fact that it's quite hard for them to recover.

Unfortunately there were a few of them that did exactly this and that is why people are chasing after it. Like they see shiba, which is a useless shitcoin end up making people 10000x profits and all, so they want to do the same thing with others now.

There were few other smaller caps that turned people into millionaires instead of billionaires, and that is why people are chasing after finding the next one. We all know there will always be a few that make it and thousands that won't, so people throw money at thousands to hit just a few that will happen.

There may not be another memecoin that succeeds, but people will still throw money at all the new ones. The sad thing is, if you want to start, you could spend like 50k on creating and marketing a new project and probably get a few million dollars if you know what you are doing thanks to this hype.

[Benefactor]

Which empowers them to purchase numerous tokens for less cash. So these tokens are extremely famous among Newbies. Since they don't know about the dangers about these. Truly, of the numerous financial backers, a large portion of them lose cash from the shitcoins game. It's as though the crypto world is supportive of them, and the picture of digital currencies is seriously discolored in view of the shitcoins.

[btc78]

shitcoin promises a higher ROI than bitcoin and that is what traps many people into being tempted to buy it . I have some friends who keep telling me that meme coins will make him rich quick but so far he has never experienced that (he always loses), Bitcoin is always the best and most rational asset, unlike shitcoins or meme coins

Most of them promise nothing.

It is the mindsetting of every investor that have been chasing meme coins that they'll have a faster and higher ROI.

Those who got in early in these meme coins, they're the only ones that can make a lot of money from it. But the rest, who just invested newly, they should accept the fact that it's quite hard for them to recover.

This proves inly one sure thing mate , and that is investors nowadays again becoming greedy and stupid, believing in a project that really has no future at all.
and what they are doing is to take the risk and blame the market if they become a failure.

Meme coin is not having any future , instead this will always make investors in the edge of losing that earning .

[marilynmanson21]

because with new coins that get hype usually they can get profit, maybe newbie enter the meme coin area and old people play prices and create the meme coin fomo.
after dimming so beginners bite their fingers because they see losses

[ven7net]

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?

I think that there is nothing strange in this situation. Just everyone wants to earn more and what is very important quickly. I plant more for you, there were such people before, they are now and will be tomorrow. On the one hand, there are those who fraudulently gives you the opportunity to earn money, on the other hand, there are those who want to simply and quickly make a profit. It turns out that for every product there is a buyer, and here it is. At the same time, it is worth noting that many, already knowing that this is a very dubious direction, still use it, but they will be lucky.

[turbo_trader0101]

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[peter0425]

Which empowers them to purchase numerous tokens for less cash. So these tokens are extremely famous among Newbies. Since they don't know about the dangers about these. Truly, of the numerous financial backers, a large portion of them lose cash from the shitcoins game. It's as though the crypto world is supportive of them, and the picture of digital currencies is seriously discolored in view of the shitcoins.

There are many currencies in which not Meme coin that also valued very cheap so this is not the reason why they wanted to buy Meme coin maybe they are seeking for speed income ? because Meme coins are mostly used as manipulated currency.
like what Dogecoin and Shiba Inu does last year/.

[imamusma]

Circumstances like this always benefit the memecoin makers because when ordinary people or new people catch a glimpse, the coin is good.
but they couldn't tell that it was a coin meme.

It won't be profitable right away either, because usually new people won't dare to put a lot of money on new coins they know, and if the percentage of new people buying meme coins with big investors who often buy in large quantities, they still lose to one person, so Dev's side won't be easy to make money with this either.

[molsewid]

yep, I also saw that. this is all for the purpose of getting rich quick. well, just imagine, when we get coins like doge and shiba whose increase is so high. even invest 1-10 million coins, it can make us rich in no time.
people may think that way, so until today, many are still investing in memecoin. To be honest, in my country too many people make crypto projects, well I see the price is equivalent to memecoin, and supporters hope the price of the coin can reach $1.

Actually, the first I heard about Doge or Shiba I didn't take this two coins that important well it's because this two coins were known as shit coins or meme coins but since Doge was been shilled by Elon and even Shiba the soaring of market value of these two token started. So yeah, one of the reason why people keep investing money in shit/memecoins is that they are aiming for an instant high profit that the recent investors of Doge and Shib achieved when the market soar high.

[Sirait]

shitcoin promises a higher ROI than bitcoin and that is what traps many people into being tempted to buy it . I have some friends who keep telling me that meme coins will make him rich quick but so far he has never experienced that (he always loses), Bitcoin is always the best and most rational asset, unlike shitcoins or meme coins

Most of them promise nothing.

It is the mindsetting of every investor that have been chasing meme coins that they'll have a faster and higher ROI.

Those who got in early in these meme coins, they're the only ones that can make a lot of money from it. But the rest, who just invested newly, they should accept the fact that it's quite hard for them to recover.

it is true that early buyers have a great opportunity to profit from memecoins, but those who buy during the hype will only lose due to their greed and FOMO nature. until now I'm sure many of them are still hoping and even praying hard for Doge or shiba to return to ATH

[Kocret02]

The answer to this question is very simple: everyone wants to earn money, and last year was the best place to earn investing in meme coins. Now you just have to follow this trend. Certainly, many meme coins will earn a lot of money, but it is not known which. I believe in Dogecoin forever!

Dogecoin can be a good choice when the market is experiencing a bullrun, but if the market doesn't experience a significant increase then there won't be much money to be made from it, but in general Dogecoin is a good choice than other memes right now.

[wheelz1200]

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?

Greed pure and simple.  Peoe hear stories of someone lucky enough to hit on their able and everyone wants in.  Break all these down and you are right it's just copy/paste garbage.  Eventually all these gamers will learn the hardware crypto is unforgiving to the greedy and will lose their entire position.

[famososMuertos]

Speculation? or scam? but it's not a mirage... just don't fall like a dummies.

It happens in the real world, there is no difference, in any type of business, for example, it does not bother you that there are thousands of copies of your favorite brand that someone has a Rolex identical to your original,but the other person gets it for just $10.

The issue is that you are the important one in the situation, it is you who must be informed and understand the crypto mirage that exists, then after you understand it, how it seems that you do it, you invest correctly, it is easy, when you understand.

Note that some time ago in my local board we talked about it and I made this capture, it is very possible that they are already double.

https://i.imgur.com/KtmdFLe.jpg
Data january 2022. / Shiba

[Fivestar4everMVP]

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?

Well, everyone is in need for quick wealth, and from what dogecoin and Shiba inu has done, most people, which I believe majority of them are newbies, believe that memecoins are the only way they can get some really quick wealth.
And again, this shit memecoins are always very cheap, with as little as $10 box, one can afford millions and sometimes even billions of the coin, newbies who don't know exactly how this things work yet count on those numbers, without realizing that the total supply of the coin itself is over inflated which is the reason why they could buy such number of coins at such a price.

So in my personal opinion and conclusions, I have two reasons why I think many people which I believe most of them are newbies, opted to invest in meme shitcoins instead of a worthy and quality project.
1. They are super in a hurry for some quick money.
2. The cheapness of this shit memecoins attacks many people mostly newbies because with very little amount of money, they can afford millions or even billions of the coin or token.

[romero121]

As said it is gambling. In other way people find it easy to invest a little amount to receive a good number of tokens. If something positive happens in the market, this will make a big change. So, it is like spending what one can afford to loss. He may be lucky, if not what he spend on specific memecoin will not hurt him financially.

[South Park]

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.

This, if a person was willing to take their time and reach their goals in a decade then they will easily see that bitcoin is still one of the best investments they can make as its potential is still huge and its popularity and adoption do nothing but to go up as time goes on, but people do not want to wait for that long, they want profits and they wanted them now, and the only way they can see themselves getting those profits is by investing in those meme coins, not understanding that get-rich-quick schemes are in fact get-poor-quick schemes for the majority of people that invest in them.

Not all would really be that patient which is really just normal i would say which a very common motive to have as an investor even though you are fully aware on how these meme coins
do works or even simply with those altcoins then they do love to play with risk even they are aware of that just let them be since its their money to use and not ourse.
If they could really bare that risk then so be it, we do have our own calls and decisions to make whether we do engage on meme coins or not then its
on someones choice.

But that is precisely the issue, they believe they can handle the risk, but they think that because they believe they will obtain profits with their investments, but once they realize this is not going to be the case they blame the market and point their fingers at anything and anyone except themselves, basically they are trying to paint themselves as the victims of a ruthless market while at the same time they try to give up any kind of responsibility when it comes to protecting their capital, something that runs contrary to the principles behind this market.

[Finestream]

As said it is gambling. In other way people find it easy to invest a little amount to receive a good number of tokens. If something positive happens in the market, this will make a big change. So, it is like spending what one can afford to loss. He may be lucky, if not what he spend on specific memecoin will not hurt him financially.

Exactly, they invest because of the hype and hope that they will make a decent profit.

If you look at the performance of DOGE during the bull run, you'll certainly be attracted to invest if you don't know the real reason why it's pumping. That bull run made an impression to the newbie that meme coin is a good investment as they are more profitable compared to the coins which have real utility.

[coco23]

As said it is gambling. In other way people find it easy to invest a little amount to receive a good number of tokens. If something positive happens in the market, this will make a big change. So, it is like spending what one can afford to loss. He may be lucky, if not what he spend on specific memecoin will not hurt him financially.

People buy those coins for a quick gamble alright. It's like a lottery ticket, maybe it goes 1000x or most likely it goes to 0
I also think that the low price per token somehow has a huge psychological effect that draw people to those coins. You can then fantasize "What if the coin goes to $1?". Personally I find it ridiculous when you can buy so many coins with a handful of dollar that you can't even pronounce it anymore 

[TravelMug]

As said it is gambling. In other way people find it easy to invest a little amount to receive a good number of tokens. If something positive happens in the market, this will make a big change. So, it is like spending what one can afford to loss. He may be lucky, if not what he spend on specific memecoin will not hurt him financially.

And just like in gambling, there is this huge risk that is involved and they don't look at it that way. For sure, it could be their ticket to some kind of lottery, if the price goes to the month and they invested medium to huge money they the return is gong to be big. But how many investors have become millionaire from those meme coins? That is the big question and we really don't know if there are real people who turn their lives upside down by investing on some shit and meme coins.

[cabron]

Generally investing is close to gambling for there is a risk. But investing in memecoin is way easier to make money especially if you are among the first to have bought billions at a very lowprice. Ho many of us got thousands of USD when Doge hit $0.05 and dumped already?

But when Doge was $0.05 a lot also invest because it could go war further up and so it did. SHIB is actually a good memecoin with great plans ahead, It's branded as meme shitcoin though but many will buy it probably if it dips way low that you could get close to 10M tokens per $1.