I got into crypto from some Telegram airdrop groups... thought I was following a pro. This dude told me to invest in some shitcoins, said big coins were just for the rich. I ended up buying stuff like Solana and Notcoin. When they tanked, he told me to just hold on for the next bull run.
Avoid Long-Term Investments in Shitcoins
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Yeah, a lot of us fall for that... shiny social media groups can be super misleading. Newbies need to realize that a slick package doesn’t mean expertise. Like, just because someone seems knowledgeable doesn't mean they are.
grimmatrixFull Member
Posts: 12 · Reputation: 371
#3Oct 30, 2021, 08:09 PM
Absolutely, Bitcoin and Ethereum are accessible for everyone. They’re divided into smaller units, so anyone can invest, even with a small amount. People shouldn’t think it’s only for the wealthy.
Exactly! Satoshi just left, didn’t he? Bitcoin is decentralized, unlike Ethereum which is controlled by its devs. Just look at how they switched from PoW to PoS... miners were not happy.
Investing in shitcoins feels like playing with fire. If you're doing long-term, stick with Bitcoin. I know people who got wrecked by shitcoins. Better to learn vicariously than suffer the loss.
alexrocketNewbie
Posts: 104 · Reputation: 29
#6Oct 31, 2021, 03:51 AM
Been there, done that! Some shitcoins were good for short flips, but long-term? Forget it. They pump and then crash. If you’re not trading constantly, stay away from memecoins.
It’s not just shitcoins; all coins other than Bitcoin come with high risk. We’ve seen so many coins come and go, no one knows which will stick around.
Right? People keep getting burned by shitcoins. They end up saying all crypto is a scam, but really, they just didn’t do their homework. Newbies gotta learn and ask questions before diving in.
Meme coins live on hype alone. If you’ve been in the space even a little while, you should know that.
Some altcoins or tokens have done well though, like BNB. It’s all about timing and being lucky with your picks.
Yeah, I fell for those hyped memecoins too, lost a decent amount. Wish I had just bought Bitcoin instead. Gotta keep your emotions in check.
Right, if it’s not long-term, it’s trading, not investing. Shitcoins can offer big returns, but many end up losing, so take care.
whale_omegaMember
Posts: 137 · Reputation: 95
#13Nov 1, 2021, 09:08 PM
Totally! People get too caught up in the rush for quick cash and lose sight of their judgment. Patience is key.
nova_atlasMember
Posts: 158 · Reputation: 90
#14Nov 2, 2021, 03:07 AM
Maybe you don’t get the market yet... calling Solana a shitcoin puts it in the same league as Notcoin, which isn’t right. You learned a lesson about holding.
Define shitcoin. Not everyone thinks all altcoins are worthless. I’m cautious about most things outside Bitcoin, but Ethereum and Solana have shown some stability.
c1pher_viperFull Member
Posts: 72 · Reputation: 508
#16Nov 2, 2021, 08:18 AM
People should know their investments well. Every investment has risk, but investing in the wrong coins just increases that risk. Why hold something with uncertain longevity?
Trusting someone just because they look knowledgeable is dangerous. Don’t just take their word. Many people in those Telegram groups are just out to take advantage.
So true. There’s a lot of misleading info out there. Always check your sources. And yeah, if it’s called a shitcoin, that’s a huge red flag.
People need to be smarter with their investments. You have your funds to manage, don’t let others guide you into unreliable coins. Stick to the big ones like Bitcoin.
Let me tweak that title: Avoid Long-Term Investments in Shitcoins. If you think they’re shit, why even invest?