Quote from: cryptoaddictchie on October 28, 2020, 03:28:15 AM

Quote from: amishmanish on October 27, 2020, 04:56:37 AM

Nobody should fall for this kind of FOMO investments once they have pumped. Only if you are actually going to use the product, then put in money. If you cannot find a way to use it, rest assured that nobody else will. There is much greater chances of loss and regret after investing in these things.

I get your point. Fomo is dangerous if you are not that kind of person. But based on experience, I can tell you that sometime its work especially the influencer that promote or shill it is highly capable of bringing a good crowd or investor into it.
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Im not that conservative, when chance of profiting is knocking your door. Just last night, I fomo on a hype influencer for a shitcoin, well risk a little of 0.3eth and become 1.1eth. Also it goes down after some time.

Haha. Thanks for sharing that personal experience. You are right that most of the money is being made by right exit and jumping on the bandwagon at the right time when the shitcoin promoter is shilling it. Its all about how much risk you can take, Personally, I find it troubling that most of the people involved in alt-coins and crypto outside of bitcoin are just chasing these "gainz". In the process, everything from insider trading to shilling is considered fair game. This harms even those projects where the developers are actually sincere. Because nothing is working in this market without shilling.

At the end, its just a lot of wealth transfer. Most of the time it is the whales that are profiting as they are the ones who can manage these pumps better than the average small investor FOMOing into it.