Never invest in Shitcoins for long term

[bettercrypto]

That's good for you if you've truly learned from the mistakes you made before, and it can also serve as an awareness or warning for others who might experience what you went through, OP (Original Poster). If Bitcoin is already volatile, then the 'shitcoins' you mentioned are even more so.

The problem with some investors in this crypto space is that they are also gamblers, so they don't mind losing because they think they might get lucky and those 'shitcoins' will suddenly pump, which is most of the time what happens—a rug pull in the end."

[atookz]

Support for shitcoin projects is usually temporary and fleeting. Shitcoins are often based solely on hype, so their survival is limited to the short term. Once the hype wears off, their prices will inevitably fall, and once they do, it's difficult to recover. I was once like you, attracted to several shitcoins and joined several groups. I was promised huge profits but once I joined, things didn't live up to my expectations. Despite trying several shitcoins, I never made a profit. I probably wouldn't recommend investing in shitcoins long-term because their foundations are based on hype and lack solid fundamentals. I now focus more on coins with clearly solid fundamentals, like Bitcoin or Ethereum. Long-term investment requires a coin with strong fundamentals, as having them ensures its longevity.

[Kelward]

Support for shitcoin projects is usually temporary and fleeting. Shitcoins are often based solely on hype, so their survival is limited to the short term. Once the hype wears off, their prices will inevitably fall, and once they do, it's difficult to recover. I was once like you, attracted to several shitcoins and joined several groups. I was promised huge profits but once I joined, things didn't live up to my expectations. Despite trying several shitcoins, I never made a profit. I probably wouldn't recommend investing in shitcoins long-term because their foundations are based on hype and lack solid fundamentals. I now focus more on coins with clearly solid fundamentals, like Bitcoin or Ethereum. Long-term investment requires a coin with strong fundamentals, as having them ensures its longevity.

In other words buying shitcoins is no different from gambling your money, atleast in gambling you know that you're depending on luck to win but shitcoin developers and their influencers will give you false hope. I have witnessed a lot of naive investors that believed in hypes that later regretted their actions because while they were waiting for the token to do more times profit before they cash out it suddenly dumps on them and becomes dead. Shitcoin investors should never liken them to Bitcoin that has the potentials to rally and hit new ATH after a dip, most altcoins don't have what it takes because they don't have the potentials like Bitcoin. If you must take a risk of buying shitcoins for quick profit do so with amount that you can afford to gamble with.

[Fredomago]

That's good for you if you've truly learned from the mistakes you made before, and it can also serve as an awareness or warning for others who might experience what you went through, OP (Original Poster). If Bitcoin is already volatile, then the 'shitcoins' you mentioned are even more so.

The problem with some investors in this crypto space is that they are also gamblers, so they don't mind losing because they think they might get lucky and those 'shitcoins' will suddenly pump, which is most of the time what happens—a rug pull in the end."

You are right, there are traders that treats this venue similar to gambling, they are willing to take that risk in hope that luck may back them up and they'll be able to find gems from those many shitcoins that being created from time to time, they are not concern about their investment what they are after is that chance or opportunities to make some good calls and ride with those hypes and manage to earn decently.

It's not that many but if luck permits you'll might be able to find that kind of shitcoin and ride with the bullish market movement then sell before it dive down so hard.

[MinMan]

That's good for you if you've truly learned from the mistakes you made before, and it can also serve as an awareness or warning for others who might experience what you went through, OP (Original Poster). If Bitcoin is already volatile, then the 'shitcoins' you mentioned are even more so.

The problem with some investors in this crypto space is that they are also gamblers, so they don't mind losing because they think they might get lucky and those 'shitcoins' will suddenly pump, which is most of the time what happens—a rug pull in the end."

People used to call Bitcoin a get-rich-quick scheme in the initial days of its hype, when Bitcoin started gaining value, and some also called it a bubble that would burst soon. Nowadays, so many people who are new into these things consider shitcoins and meme coins get-rich-quick schemes because that's what they've heard about them. They read some news article where it is mentioned that a person invested $100 in a meme coin and became a millionaire overnight, so they start believing that this happens to most of the investors.

What they don't know is that most investors of these meme coins or shit coins end up losing money because if there are so many meme coins entering the market, not all of them will manage to gain value, but most of them will die soon after they enter the market, and only a few of them will actually have some value and their investors might get some profit.

[2Pizza410000BTC]

If it is not long-term, then it is not an investment but trading, so shitcoisn is only for trading, not for investment. Shitcoins can indeed provide very large profits, but there are also traders who incur losses because of it, so be careful as you might end up being one of those who lose.

Bitcoin is suitable for investment, shitcoin and memecoin are not suitable for investment. All those who have invested in shitcoin or memecoin and held it for a long time have suffered losses. For example, I myself am an example of this because I bought punt and WIF tokens for more than a year, although at first I bought them for trading, but due to my excessive greed, I did not sell them despite making a profit, later I had to suffer losses and since that loss I have remained in losses. I started with about $700 and currently I am showing about $80. So I want to tell everyone that if you want to invest, it is better to invest in the best coins like Bitcoin and if you do not invest, you should never invest in shitcoin or memecoin.

[Odusko]

The moment you put aside doing your own research, you will definitely start losing massively because others will advice you into taking wrong coins decisions, most of them will tell you that bitcoin is already over sold and expensive and you should buy shitcoins that premises to pump 10x within a short period of time, all this will not end well for you as a newbie investor.

[uneng]

Support for shitcoin projects is usually temporary and fleeting. Shitcoins are often based solely on hype, so their survival is limited to the short term. Once the hype wears off, their prices will inevitably fall, and once they do, it's difficult to recover. I was once like you, attracted to several shitcoins and joined several groups. I was promised huge profits but once I joined, things didn't live up to my expectations. Despite trying several shitcoins, I never made a profit. I probably wouldn't recommend investing in shitcoins long-term because their foundations are based on hype and lack solid fundamentals. I now focus more on coins with clearly solid fundamentals, like Bitcoin or Ethereum. Long-term investment requires a coin with strong fundamentals, as having them ensures its longevity.

These shitcoins projects take advantage of newbies who don't have any experience in crypto market yet, so they are likely to fall for any promises made to them on the internet. I don't blame those who invest in shitcoins when they have zero knowledge about crypto market. Probably everyone here has felt for shitcoins or ponzi schemes at least once in this market.

The most important thing is to learn with mistakes in order to not continue repeating them over and over again, besides teaching others as well to not go for the same concept of projects.

Shitcoins can be a big waste of money, but they can also be useful as experience for investors who will be more attentive and careful from the moment they lost money this way on.

[laijsica]

The moment you put aside doing your own research, you will definitely start losing massively because others will advice you into taking wrong coins decisions, most of them will tell you that bitcoin is already over sold and expensive and you should buy shitcoins that premises to pump 10x within a short period of time, all this will not end well for you as a newbie investor.

I completely agree with you. Most folk do not give you good advice for investing. I have realized that most of the experienced people you know do not want to see you succeed financially, they want you to lose. The best way to invest is to analyze the market and implement your own decisions. You should determine which method is most suitable for your financial situation and Bitcoin is the best for investment.

Short term advice to buy shitcoins Although there is a temptation of high profits, the level of risk is very high. A newbie investor should not fall into the trap of temptation because they should learn more and gain more knowledge about the market.

[JeffBrad12]

The moment you put aside doing your own research, you will definitely start losing massively because others will advice you into taking wrong coins decisions, most of them will tell you that bitcoin is already over sold and expensive and you should buy shitcoins that premises to pump 10x within a short period of time, all this will not end well for you as a newbie investor.

That's the logical fallacy that some people have. Investing in shitcoin just because bitcoin is expensive and oversold is ridiculous. The chance of shitcoin going to zero is magnitude higher than bitcoin at current price.
All those potential profit is just an illusion with shitcoin. In bitcoin the gain is real, the ROI is real, nothing fake.

There is obvious reason why shitcoin called "shit" coin in the first place because it can go to zero and basically have no real value at all besides temporary hype.

[Rampagoe004]

The moment you put aside doing your own research, you will definitely start losing massively because others will advice you into taking wrong coins decisions, most of them will tell you that bitcoin is already over sold and expensive and you should buy shitcoins that premises to pump 10x within a short period of time, all this will not end well for you as a newbie investor.

Most beginners always underestimate the small things from it even though it is more promising than listening to other people's advice by holding trash coins. Making decisions without research is not a way to trade especially for beginners, buying shitcoins that can pump 10x is impossible for beginners, usually I listen to advice from more seniors, decisions are made after all suggestions are re-analyzed.

[Popkon6]

With shitcoins, memecoins and the likes it’s only at that time when there’s a hype and frenzy around it that you can make gains, never invest in them for a long term cos after that noise it dies down.

If you have to invest, then investing in trusted coins is the most intelligent thing to do, those who are weak and new to investing do not invest in Altcoins for more profit, but I think they are wrong. If you have to invest, it is definitely best to invest in Bitcoin, because if you have to invest for a long time, it is better to choose trusted coins, so I want to say that if you had invested in Bitcoin, you would have gotten the maximum benefit. All the coins you have invested in have completely consumed you to embezzle money.
And the person who gave you the wisdom and advice is definitely a fool, because he gave you this advice to waste your money. But if you want to invest, then you must invest in Bitcoin and keep it for a long time and you can follow the DCA method.

[Lida93]

I used to follow crypto airdrop groups on Telegram and WhatsApp… mostly on Telegram so I had this guy who introduced me into this groups, he was an admin in one. I knew for a while he was into cryptocurrencies and trading (he was always checking signals on PC) so I thought he was a pro and had this trust in him.

This is where many people fall prey to. Seeing a random group on social media with well packaged presence and fake progress level to lure their victims. It is sad that we still have victims in this era. One thing newbies should note is packaging isn't expertise.

There's a way they do these things the admins of those groups and their partners, they provide a lot of successful trades of different shitcoins to the group, some of those trades are actually AI made but the gullibles in the group would be thinking that these guys are pro traders without necessarily doing their own research about those shitcoins and memecoins they're introduced to. If a person tells you that coin such as bitcoin that have gained global recognition as a reliable crypto asset to invest in is for the big boys, any sensible guy will want to do his own research to have a full knowledge of how true is that and not just accepting what's told

[Peanutswar]

~
I’ve learnt my lessons now, shitcoins are just gambling they aren’t what you’ll invest into, for long term.

It took me a while to realise the man I thought was a pro was just a regular dude (a gambler), I’ve also learnt to do my own research before I invest.
With shitcoins, memecoins and the likes it’s only at that time when there’s a hype and frenzy around it that you can make gains, never invest in them for a long term cos after that noise it dies down.

Shitcoin are just merely created just to create fun and hype to the people you must not to take this coins seriously such as the bitcoin for holdings and other coins which has a potential. Its just a fast phase in terms of the market anyone can easily market pump and dump these coins so if you would like to try is you must need to know the risk you can afford. Its true that there are people doing shitcoins and makes a huge amount of money instantly and there are people who always and lose alot of money already in the shitcoins so people only have the guts doing this kind of investment so if you are not into it better to skip and use the strategy you seen has a chance to get you more money.

[shinratensei_]

I’ve learnt my lessons now, shitcoins are just gambling they aren’t what you’ll invest into, for long term.

The fact that some people think shitcoin and equates it to investing is just beyond my comprehension. Do people really think shitcoin an instrument of investment?

The truth is shitcoin isn't even a speculation nor gambling, shitcoin is a rigged market with manipulation where your odd of winning is less than 5% and the odd of the token deployer winning is 99%.

It's simple manipulation, I'd even call it ponzi.

[HawkTrader]

Well, for me it depends on what's regarded as investment. My strategy on shitcoins has always been ride the wave, take profits and keave moonbags for the next vwave. So, leaving $20 for potential moonbags can be investments for other low-income traders, just sayong tho

[pusaka]

I’ve learnt my lessons now, shitcoins are just gambling they aren’t what you’ll invest into, for long term.

The fact that some people think shitcoin and equates it to investing is just beyond my comprehension. Do people really think shitcoin an instrument of investment?

The truth is shitcoin isn't even a speculation nor gambling, shitcoin is a rigged market with manipulation where your odd of winning is less than 5% and the odd of the token deployer winning is 99%.

It's simple manipulation, I'd even call it ponzi.

It's easy to manipulate, that's what shitcoins are. Therefore, I never considered investing in these coins; I just hoped for luck when I tried to buy shitcoins, even though I never got what I hoped for.

It's perfectly reasonable to consider shitcoins a Ponzi scheme with no clear purpose behind their creation.

Many people get trapped in these coins because once they enter, when they drop, they never see the price again, and they end up as junk coins in their wallets.

[dunfida]

I’ve learnt my lessons now, shitcoins are just gambling they aren’t what you’ll invest into, for long term.

The fact that some people think shitcoin and equates it to investing is just beyond my comprehension. Do people really think shitcoin an instrument of investment?

The truth is shitcoin isn't even a speculation nor gambling, shitcoin is a rigged market with manipulation where your odd of winning is less than 5% and the odd of the token deployer winning is 99%.

It's simple manipulation, I'd even call it ponzi.

It's easy to manipulate, that's what shitcoins are. Therefore, I never considered investing in these coins; I just hoped for luck when I tried to buy shitcoins, even though I never got what I hoped for.

It's perfectly reasonable to consider shitcoins a Ponzi scheme with no clear purpose behind their creation.

Many people get trapped in these coins because once they enter, when they drop, they never see the price again, and they end up as junk coins in their wallets.

Shitcoins really are nothing more than gambling disguised as investing they give the illusion of quick riches but underneath it all is just manipulation and greed they exist mostly to make money for the people who create them not for the people who buy them the odds are completely unfair maybe a few get lucky at the start but almost everyone else ends up losing their money. The structure itself feels like a ponzi new buyers fund the exits of the old ones once the hype fades the price collapses and the developers move on to launch another project under a different name it’s the same story every time promises of massive gains flashy marketing and then silence when everything crashes.

Most people fall into it because of fear of missing out they see posts of others making quick profits and think they can catch the same wave but by the time they buy in it’s already too late the insiders have sold and the market is rigged to drain the newcomers once the price drops it almost never recovers and the coins just sit there dead in wallets. The real lesson is that if a coin has no real use no clear team and no reason to exist other than hype it’s not an investment it’s bait solid projects like Bitcoin or Ethereum are built on real technology and purpose but shitcoins are just noise made to trap the greedy and the careless patience and knowledge are what protect you not luck.

[siniminomorocomunisakito]

Well, for me it depends on what's regarded as investment. My strategy on shitcoins has always been ride the wave, take profits and keave moonbags for the next vwave. So, leaving $20 for potential moonbags can be investments for other low-income traders, just sayong tho

++ For you, if what you're doing is confident and correct, that's your right, but I see the title of the OP's post above as a warning sign of caution when someone is driving into altcoins. We never know the owner's true intentions—whether they're building the coin for the long term or just a one-month fan, then slowly dumping it, after which they relist it on the same exchange with different initials from the previous profit. Who knows.

Be careful with them

[Polkeins]

I’ve learnt my lessons now, shitcoins are just gambling they aren’t what you’ll invest into, for long term.

The fact that some people think shitcoin and equates it to investing is just beyond my comprehension. Do people really think shitcoin an instrument of investment?

The truth is shitcoin isn't even a speculation nor gambling, shitcoin is a rigged market with manipulation where your odd of winning is less than 5% and the odd of the token deployer winning is 99%.

It's simple manipulation, I'd even call it ponzi.

You can have different attitudes towards shitcoins and indeed 99% of them tend to fall in price over time, but there is no denying that this is a very liquid market where there are theoretical chances to make good money quickly.
We can mention Zcash, for example, which was considered practically a junk coin that everyone abandoned and which cost about $20. Now, the price of ZEC has skyrocketed almost 20 times, and everyone who held this coin has become 20 times richer.
Zcash is still traded on many exchanges, so you can sell it pretty easily and quickly if you have it and get cash/USDT.