Yet another reason to prioritize Bitcoin over Shitcoins.

[MainIbem]

So he lost 99.7% of his investment? That's so painful. Even losing the lowest amount of money on my investment will not make me happy talk more of losing a whole $1,994, that will hurt. I stopped investing into altcoins, especially new altcoins because of the experience I had when I was investing into some altcoins that I felt had potentials.

Those new altcoins are give and take; they are like a sporty bet. They give you a little chicken as a reward, using their left hand to take a cow from you, and still demand more.
 
Considering investing in some of these faceless memecoins alone is risky; the same way they can turn your life around in matters of minutes or hours, the same thing can also happen in reverse. A lot of us have had our own fair share from the altcoin market.

You're right, from the information i gathered about Memecoins, they're like the clown of the Cryptocurrency world, a common joke just like the memes we used on social media so investing on a joke is at one's risk, im not trying to say that people don't profit from it, of course the lucky ones do but like you said,  it's just like gambling where the house got a better edge than the gámblers, in this case the coin producers got the upper hands cause they can pump it and dump at their own will, that's a very big joke and highly risky i guess that's the netizens call it the joke of the Cryptocurrency world. The biggest mistake one would make is buying some of these faceless coins as you said and holding for Long-term, that's like shooting one's self on the leg and it comes with lots of regrets similar to what that dude in the image experienced.

[Josefjix]

I would understand if someone decides to invest in a memecoin rather than Bitcoin. Totally understand. Why? Bitcoin's upside gets diminished with every $1K it adds to its price. At this point, $110k will just be a 10% move while $120K will be a 20% move. The upside potential reduces as price goes higher.

But with memecoin, you can get a make or break moment. If you are successful with it, you get rewarded handsomely because it's usually multiple X price increase.

Bitcoin is well suited for deep pocket investors. I feel like the timeline to invest in Bitcoin is slowly closing for small sized investors.

As Bitcoin prices rise, the chances of smaller investors dwindle. As a basic economic knowledge, I believe a $1k Bitcoin investment at this stage is becoming a drop in the ocean because the ROI will not yield much even if you hold it for a long time. This is why smaller investors are shifting their focus to memecoin in order to make quick profits and return to Bitcoin.

When someone asks me for financial advise on crypto investments, I normally suggest them to take the risk and invest in memecoin, or to get a stable coin if their goal is to increase their purchasing power against the Naira.

[Dr.Bitcoin_Strange]

So he lost 99.7% of his investment? That's so painful. Even losing the lowest amount of money on my investment will not make me happy talk more of losing a whole $1,994, that will hurt. I stopped investing into altcoins, especially new altcoins because of the experience I had when I was investing into some altcoins that I felt had potentials.

Those new altcoins are give and take; they are like a sporty bet. They give you a little chicken as a reward, using their left hand to take a cow from you, and still demand more.
 
Considering investing in some of these faceless memecoins alone is risky; the same way they can turn your life around in matters of minutes or hours, the same thing can also happen in reverse. A lot of us have had our own fair share from the altcoin market.

Exactly. Even if one must invest in any of those new meme coins that are being hyped, the person should always be active for latest updates with the token, so that if there's any need to sell off so quickly and accept your already incurred lose, at least it will be better thank losing a whopping 99.7%. If maybe he was aware of how the price was drastically dropping down, he would have sold when he lost about 50% rather than allow it to draw down till 99.

[Dzwaafu11]

Most Memecoins are Shitcoins and are like a Russian roulette, it's very risky and not something one could rely on cause they're pump and dumps, mostly more beneficial to their owners than investors, they pump it to attract investors then dump when they're satisfied with the number of investors and profits they've made.

the truth be say, person when fit put $2k into a meme coin already knows all the risk that's associated with them and how volatile they can be in less than no time. investing in shitcoins na gambling on a normal and anybody when de invest in any meme coin de usually expect huge profit too soon and for that kind situation, you know say them no go want invest in bitcoin and then wait for bitcoin to stay the next 8 years or so before you go fit get two times return on your investment.

Seriously. You read my mind. There is no way someone will use $2k in meme coin, and he did not know something like this would happen. He must be aware of the risk that is attached to investing in meme coin before he does that;

However, someone who uses $2k to invest in meme coin already knows much about the crypto space. He is not new in the crypto market anymore. However, he thought he would make a huge return in the bull market; that is why he invested in it. You are right by saying they won’t invest in bitcoin because of how long it will take to take profit, so many of them don’t want to invest in them.

[Gooner0]

Bitcoin has proven and will continue to prove that it is the best amongst the rest..
But mind you this individual should have known about the risk involved in this altcoins before embarking on investing.
Maybe he did know and decided to risk .
I rather invest my all on Bitcoin than altcoins... Fact

[Egii Nna]

~~snip~~

It's obvious he is a newbie in the crypto space; that is why he made such wrong financial mistakes. If not, why would you just go and invest your $2k into a random meme coin when you know what that costs in Nigeria presently when converted to naira? 
 
Although it is not something new for a newbie to make such mistakes. If not even in the forum but also in the social media platforms, I always see other experiences of crypto enthusiasts encouraging people that if they want to go into crypto and have no knowledge, they should first invest in bitcoin so that they will be getting small profits and small losses until they are able to know more about crypto so that they can see if they will be able to start trading or continue investing. 
 
Furthermore, you can still invest in altcoins, but the mistake most people make is less research on an altcoin before they invest; that is why they are always a victim of loss.

[nelson4lov]

~Snipped

Bitcoin is well suited for deep pocket investors. I feel like the timeline to invest in Bitcoin is slowly closing for small sized investors.

As Bitcoin prices rise, the chances of smaller investors dwindle. As a basic economic knowledge, I believe a $1k Bitcoin investment at this stage is becoming a drop in the ocean because the ROI will not yield much even if you hold it for a long time. This is why smaller investors are shifting their focus to memecoin in order to make quick profits and return to Bitcoin.

When someone asks me for financial advise on crypto investments, I normally suggest them to take the risk and invest in memecoin, or to get a stable coin if their goal is to increase their purchasing power against the Naira.

I agree with your advice because the only way for a small sized investor to buy a good amount of bitcoin right now is via leverage and even that increases the risks of loss exponentially.

Now that Bitcoin is over $100K, the volatility might not be as much as it's used to be and might do only a 10-50% max returns from here. I'm not saying higher prices like $1M are not possible — they are just unlikely for now. Maybe until all countries start buying en masse that pumps the price upwards more.

For now, alts present best opportunities for upside vs Bitcoin for small sized investors. That is a fact.

[Asiska02]

Alot of persons still makes profits Investing in meme coins. What matter is how you are being able to manage your risk so as not to over gain or loss all to the market. Most of these tokens are just created to be rugged by the end of the day. So before embarking on investing , you should do proper research on which token you want to invest in.

Even after research, it is better to use small amount of money that you can lose and not think about. I read about a person that made over $5 million from a meme coin with $165 recently. I do not know how that happened. Those coins are gambling and nothing more. Investing in them means that person is gambling. They can increase in price or fall in price. But either ways the price goes, it can be very significant.

I wonder why stuffs like this doesn’t come up frequently for a lot of people to benefit from it, it has now become like it’s all about information. Those that get more first hand information about those coins pumping benefit most from it. If it was that easy and it’s not a gambling thing to invest in such coins, more people would have been opportune to also benefit from it. From $165 to $5million is gambling, it doesn’t happen naturally not even on luck you’ll see that happening. A few number of people will always benefit from gambling coins like this while those that FOMO to invest in them are rugged in the end. It is better to avoid them and focus on more natural coins that can’t be pumped and dumped at anytime.

[CryptopreneurBrainboss]

Bitcoin has proven and will continue to prove that it is the best amongst the rest..
But mind you this individual should have known about the risk involved in this altcoins before embarking on investing.
Maybe he did know and decided to risk .
I rather invest my all on Bitcoin than altcoins... Fact

Best decision that you can ever take, there hasn't been anyone that risked it all on Bitcoin and have regretted that decision but there are many people that did the same for altcoins and have nothing to show for it. I'm an example but again there are people that have been fortunate to be a beneficiary from altcoins too.

Bitcoin has the better success rate but quite a number of investors won't be patient with it and want to experience profits faster than when the profits would have come from being part of the industry. Bitcoin has always followed a pattern, by studying it we'll know when is the best time to invest, hodl or sell depending on when we intend exiting the market, excluding that criteria, hodling indefinitely will always be the better option.

[Juicyhome]

Bitcoin has proven and will continue to prove that it is the best amongst the rest..
But mind you this individual should have known about the risk involved in this altcoins before embarking on investing.
Maybe he did know and decided to risk .
I rather invest my all on Bitcoin than altcoins... Fact

Best decision that you can ever take, there hasn't been anyone that risked it all on Bitcoin and have regretted that decision but there are many people that did the same for altcoins and have nothing to show for it. I'm an example but again there are people that have been fortunate to be a beneficiary from altcoins too.

Bitcoin has the better success rate but quite a number of investors won't be patient with it and want to experience profits faster than when the profits would have come from being part of the industry. Bitcoin has always followed a pattern, by studying it we'll know when is the best time to invest, hodl or sell depending on when we intend exiting the market, excluding that criteria, hodling indefinitely will always be the better option.

@Cb, you have shown that you have experienced in bitcoin trading. I think you just nailed it there, everything about cryptocurrency invest is all depend on choices of the investor, if you choose altcoin over bitcoin then be ready to accept any outcome either profit or lose. Like your side CB bitcoin is  the baba of them all and when you invest in bitcoin you have this assurance that you will profit in a long term but altcoin doesn't have such assurance bitcoin has. Altcoin is a short term investment while bitcoin is a long term investment.  That's the best way to put it for beginners, I see people selling out their bitcoin to buy altcoin and it amazed me. Who's their adviser? That's the question that I keep asking  myself on their behalf.  However, the main reason we investment in cryptocurrency is to make profit, so if you do proper analysis on any altcoins and you see future in it, invest in it. But never empty your bitcoin investment for altcoin.  Bitcoin is the messiah of them all, hodl it for long period and it will save you from poverty.

[Zackz5000]

Bitcoin has proven and will continue to prove that it is the best amongst the rest..
But mind you this individual should have known about the risk involved in this altcoins before embarking on investing.
Maybe he did know and decided to risk .
I rather invest my all on Bitcoin than altcoins... Fact

E dey advisable make we invest Money way no go pain us if we loss am and e also good make we invest Money way we no go need for a very long time investing all you have into bitcoin is not a good approach because anything fit happen and everything way you invest on done go .
But nevertheless it is important we put our money on bitcoin rather than puting into shitcoins because to me they are unreliable coin, there are risk in Bitcoin investment but the one of shitcoins is high.
Bitcon still remain the best coin to invest on in the cryptocurrency market you can plan for bitcoin long term investment by making sure you have your discretionary income and emergency fund so you can be able to accumulate Bitcoin and HODL for long without any challenge of selling out in a short period of time you can increase your Bitcoin stack by accumulating little by little using the DCA strategy either weekly or monthly without minding the price of Bitcoin and HODL.

[Mpamaegbu]

I would understand if someone decides to invest in a memecoin rather than Bitcoin. Totally understand. Why? Bitcoin's upside gets diminished with every $1K it adds to its price. At this point, $110k will just be a 10% move while $120K will be a 20% move. The upside potential reduces as price goes higher.

But with memecoin, you can get a make or break moment. If you are successful with it, you get rewarded handsomely because it's usually multiple X price increase.

My broda, nor be lie you talk there. I get a friend like dat wey me and am dey follow run some investment parole. Till date dat dude nor get a single satoshi wey im dey hodl, except na to buy and do transactions. A few years ago I dey always worry am to set something aside for Bitcoin and not put all in alts but e com be like d advice wan begin cause rift between us, I just chill. Na d same ROI wey you yarn there na im him too put out to me as his reason. Dis dude wey I dey talk so don do over $20k in altcoin investments. Some people are like dat. Nor be everybody dey reason Bitcoin like most of us here dey do.

[Judith87403]

So he lost 99.7% of his investment? That's so painful. Even losing the lowest amount of money on my investment will not make me happy talk more of losing a whole $1,994, that will hurt. I stopped investing into altcoins, especially new altcoins because of the experience I had when I was investing into some altcoins that I felt had potentials.

Those new altcoins are give and take; they are like a sporty bet. They give you a little chicken as a reward, using their left hand to take a cow from you, and still demand more.
 
Considering investing in some of these faceless memecoins alone is risky; the same way they can turn your life around in matters of minutes or hours, the same thing can also happen in reverse. A lot of us have had our own fair share from the altcoin market.

Exactly. Even if one must invest in any of those new meme coins that are being hyped, the person should always be active for latest updates with the token, so that if there's any need to sell off so quickly and accept your already incurred lose, at least it will be better thank losing a whopping 99.7%. If maybe he was aware of how the price was drastically dropping down, he would have sold when he lost about 50% rather than allow it to draw down till 99.

Perhaps it is because of being active in the last update that makes him invest and leave the coin thinking that it will bounce back again. Ah no fit invest for memecoin with big money come close my two eyes say ah dey sleep or ah wan sleep mba e no go happen ooo even though say ah don get update say the coin go do well ah no fit still zero my mind. However, I wan believe say na because of greed make that guy incur that kind loss, how person go use $2k go invest for memecoin wey every body know say those coin no be am some of them be like mirage, personally I no fit try am to use $2k put for waiting I know say the risk no be here instead ah go put am for Bitcoin even if e go take me years but make e be say profit go come out. Ah no suppose pity that guy because en know waiting been dey involve before the investment.

[Derekfunds]

Alot of persons still makes profits Investing in meme coins. What matter is how you are being able to manage your risk so as not to over gain or loss all to the market. Most of these tokens are just created to be rugged by the end of the day. So before embarking on investing , you should do proper research on which token you want to invest in.

Even after research, it is better to use small amount of money that you can lose and not think about. I read about a person that made over $5 million from a meme coin with $165 recently. I do not know how that happened. Those coins are gambling and nothing more. Investing in them means that person is gambling. They can increase in price or fall in price. But either ways the price goes, it can be very significant.

Exactly, no matter the amount of research someone did about a particular coin and no matter how promising and good the coin appears it will still not be safe or the reason no dey enough to use big money to invest in it because our research na just speculation and prediction which fit happen and off course e fit no happen too and I don come to realize say na greed or big eye dey make some people invest so much on memecoin though investing big on them is not a bad thing or  a bad idea but the question is can they afford it if it doesn't go as predict or as planned.

[Mate2237]

When I stumbled upon this on X I felt he used the wrong wallet to store the coin but come to think of it Phantom wallet is safer cause it's a non-custodial wallet, then the word Random Memcoin made me realize what played out, $2k wasted cause of wrong investment. Situations like this is why investors are advised to prioritize Bitcoin over Shitcoins cause it more safer and reliable and if you follow the due process of Bitcoin investment you must definitely be on the profit side, the major requirement is patience and you're good to go. Most Memecoins are Shitcoins and are like a Russian roulette, it's very risky and not something one could rely on cause they're pump and dumps, mostly more beneficial to their owners than investors, they pump it to attract investors then dump when they're satisfied with the number of investors and profits they've made. If that dude had invested that $2k into Bitcoin his money would've still be intact in his portfolio, he'll just need to keep adding to it overtime for long-term. The worst are people who convert their Bitcoin to Shitcoins for more profits it's very risky and sometimes you'll have to depend on luck for profits, Bitcoin still remains the best and safest Cryptocurrency investment therefore investing on random memecoin (Shitcoins) like that dude is at your own risk.

A lot of people has fallen victim to wrong crypto investment ever since these so called telegram memecoins started and people will invest their resources, time and energy into these coins only to be disappointed at the end this is because of these coins are not even listed on the coin market so investing in such business is like throwing something into the river and expecting to dive into the water to get it back which is not a wise investment and people should be weary of investing in such coins as the probability of return on investment is low

 unlikely Bitcoin that is an already established coin that has stayed the test of time most of these memecoins are just looking for promotion as they are finding their way into the coin market

[Tungbulu]

i realized a long time ago that Bitcoin remains the safest and most profitable crypto asset to invest in. back then I was determined to make profits from altcoins just because i know of a friend who made it really huge in altcoins, and this served as a motivation for me as this friend of mine also made a few recommendations for me on coins to buy, although my first fear buys gave me some meaningful returns, but not too long, i started losing until i have totally lost everything, both my profits and capital, and that was when i decided never to go into altcoin investments ever again, regardless of how much profits promised.

[Mate2237]

This is the more reason that we encourage people to invest into Bitcoin which has stand the test of time because the fact is that most of these memecoins especially those on telegram can't be trusted if not scams because some of those coins are just looking for a fan base so to they can be launched in the coin market

Off recent there hype has gradually dieing down because more eyes has started opening to reality on ground and more people has started shifting their attention from these coins Bitcoin is the best place to invest into because in terms of return on investment Bitcoin is the most reliable with many years of growth and stability

[I_Anime]

Like trump coin alot of folks made some nice amount of money from it and some also lose alot due to fomo and stuff, one thing about me I prioritise safety than profit. Because if you endup losing everything there won't be any profits for you.  So better stick to a more safer investment, like bitcoin though bitcoin still have it's own. Risks but with proper management one will be able to minimise the risk and stuff.

Always apply principle in anything ya doing in this space even outside still .

[DubemIfedigbo001]

When I stumbled upon this on X I felt he used the wrong wallet to store the coin but come to think of it Phantom wallet is safer cause it's a non-custodial wallet, then the word Random Memcoin made me realize what played out, $2k wasted cause of wrong investment. Situations like this is why investors are advised to prioritize Bitcoin over Shitcoins cause it more safer and reliable and if you follow the due process of Bitcoin investment you must definitely be on the profit side, the major requirement is patience and you're good to go. Most Memecoins are Shitcoins and are like a Russian roulette, it's very risky and not something one could rely on cause they're pump and dumps, mostly more beneficial to their owners than investors, they pump it to attract investors then dump when they're satisfied with the number of investors and profits they've made. If that dude had invested that $2k into Bitcoin his money would've still be intact in his portfolio, he'll just need to keep adding to it overtime for long-term. The worst are people who convert their Bitcoin to Shitcoins for more profits it's very risky and sometimes you'll have to depend on luck for profits, Bitcoin still remains the best and safest Cryptocurrency investment therefore investing on random memecoin (Shitcoins) like that dude is at your own risk.

I'm not surprised to hear this at all, whoever is gambling with these pump and dump shitcoins should better know that he's in for great uncertainty and must've accepted either instance positives or negatives. Just like gambling, so I believe he got what he bargained for.

I can only but assume the guy used such amount to front load his investment into Bitcoin and hold for the long-run, he would celebrate gains, even if it doesn't come immediately, but at least his investments aren't dissolved unlike the shitcoins involvements that made his investment disappear over night.

Like trump coin alot of folks made some nice amount of money from it and some also lose alot due to fomo and stuff, one thing about me I prioritise safety than profit. Because if you endup losing everything there won't be any profits for you.  So better stick to a more safer investment, like bitcoin though bitcoin still have it's own. Risks but with proper management one will be able to minimise the risk and stuff.

Always apply principle in anything ya doing in this space even outside still .

That Trump coin is what I never understood till now and with the rate it was pumping, I knew it was not going to progress more in a uptrend, so I avoided it. Those that mined it got good gains from it, but I'll never advise anybody to invest into it, of course unless you're willing to gamble, then you can go ahead

[Felicity_Tide]

Like trump coin alot of folks made some nice amount of money from it and some also lose alot due to fomo and stuff, one thing about me I prioritise safety than profit. Because if you endup losing everything there won't be any profits for you.  So better stick to a more safer investment, like bitcoin though bitcoin still have it's own. Risks but with proper management one will be able to minimise the risk and stuff.

Always apply principle in anything ya doing in this space even outside still .

Likewise, there are others that sees risks as the true way to financial freedom.
They're infact not far from the truth, but there are some risks that are not just worth taking IMO.

I tried studying how well the trump coin would perform in the first 24hrs after launch, and it's movement was an obvious risk that's not worth taking. I even know of someone that purchased both $trumps and Melania memecoin, but couldn't get a way with it as he ended up on the losing side.

There are some that will be on the winning side, while others will definitely lose. It's a one way thing that can happen to anyone who chooses to take that route of risk.