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Quote from: SuperBitMan on September 22, 2024, 01:48:40 PM

Shitcoins has frustrated a lot of people and I ask are people blind to see what is happening because I'm still seeing some people investing in shitcoins the risk in shitcoin investment is too much and should be avoided.

Every person should have negative thoughts about Shitcoin. Many people invest in Shitcoin only to make profit despite knowing its disadvantages. They know there is more to lose than gain in Shitcoin. Temporarily a number of people are lured by the phenomenon of earning from Shitcoin and they get into Shitcoin. Their aim is that they too will earn more money in less time and become rich overnight. I think they are deluded and will realize it after they lose more.

Where is the profit in sheetcoins?
Yet people take more risks and the fear of losing money also creeps in. These are nothing but foolishness. Because Bitcoin is the most brilliant to keep away from, you'll notice the last dumping was at $56,000, from where it touched $64,000 again. So if you buy the dip and hold for a long time you will have more success. But once the shitcoins are dumped, they are not pumped later and investors lose money.

But Bitcoin is such a situation that the fear of losing money is close to zero, if he is ready to hold it for a long time then surely Perth will benefit several times. But generally we need to know our Bitcoin buying strategies which we call as DCA method, you can definitely be successful if you buy investment regularly. And if you can buy bitcoins in the deep market it will be possible to hold more.

I weep for myself after losing all my capital from trading a shitcoins last week, and this made me very sad and disappointed in shitcoins because their are more or less a gamble and anytime we have to make a choice on which coin to hold or trade in, we should look away from shitcoins because we only draw closer to loses if we choose them.

You have been in this thread for a long time, and you have seen how we used to tell newbies how risky it's to invest money in shitcoins, but you choose to use your money to trade shitcoins with the hope of making a quick profit, but you ended up with an unexpected loss. There are so many shitcoins that are built with no solid use case, and it is difficult to determine the shitcoins that will do well because they only depend on hype to grow in price, and once there's no hype with the shitcoin you are trading, it will dump hard on you. I'm sorry you learn in the hard way before you realize how risky it's to trade shitcoins, and this will serve as a lesson for any newbie who wants to trade shitcoins.

Shitcoins has really caused a lot of damage to people's life and some people are still investing in it after hearing what it has done to others, the reason why some people are still interested in shitcoins are because.
1. the potential for high returns in a short period.
Some people see shitcoins as a way to make huge profit in a very short time, they believe Bitcoin is slow in it's growth and investing in it will take a very long time for it to bring forth good profit so they decide to go for shitcoins.
2. some investors are drawn to shitcoins due to their low entry barrier.
Some investors feels since shitcoins are still new and is very cheap is better they invest in it and accumulate a lot of it with just a little amount of money.
A lot of investors this is what drew them to shitcoin investment, someone told me that since Bitcoin has been in existence for some time now is unwise for me to invest in it because I won't make huge profit like those who started investing in it 10 years ago that I should look for a new coin that is just coming up and invest my money on it and stay patient that it will grow just like Bitcoin, some people has listen to such advise and later regret shitcoin is shitcoin and should be avoided.
Bitcoin has not reached half of it's growth so is still growing and people who choose to invest in it today with patience and consistency will still make very huge profit 10 to 20 years to come, is better will see Bitcoin as a long term investment or a retirement investment so as to stop this quick want of it growing because that's one thing that gets us frustrated when we wait for it, you need to give it time don't be in a rush.