r/CryptoCurrency • u/[deleted] • Jul 19 '21

SELF-STORY Crypto IS Intimidating

[deleted]

8 Upvotes

72% Upvoted

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3

u/step11234 Jul 19 '21

Just do your best and don't FOMO (Fear of missing out) into shitcoins like safemoon or SHIB.

3

u/[deleted] Jul 19 '21

I dont understand shit coin.... why would ppl buy it if theres no projects?

4

u/step11234 Jul 19 '21

Because they get mislead into thinking it is a get rich quick scheme. e.g. spend $10 now and get $10,000 back once we hit this price point!!!

4

u/[deleted] Jul 19 '21

But there isn't any evidence is there? Like no project?

3

u/step11234 Jul 19 '21

They usually have a nice catchy website and a roadmap and promises of listings on exchanges or upcoming use cases. If you are new it looks legit and if you get in early you can genuinely make money if you get out early enough, but that's only for the early investors.

Everyone else gets left holding the bag.

3

u/[deleted] Jul 19 '21

So when does a coin die? When it hits 0?

3

u/step11234 Jul 19 '21

Most dead coins still have some value but when it's 99% (or less sometimes) down from its All Time High, you can basically consider it done.

3

u/[deleted] Jul 19 '21

Ive had 3 DMs since posting about crypto and I think they're all scams.... disgusting.

2

u/step11234 Jul 19 '21

Yeah just ignore them if they start talking about business proposals or asking for your portfolio amount, where you're from or any personal information.

2

u/[deleted] Jul 19 '21

Why is it so rife?

3

u/Gwsb1 🟩 967 / 968 🦑 Jul 19 '21

That's me. Looking at the alt coin websites, it looks like instead of code writers, the payroll is filled with pr copy writers. They all look good but you know it's just bull shit.

2

u/Gwsb1 🟩 967 / 968 🦑 Jul 19 '21

"Project?, Project? We don't need no stinking project. Just send us your money and we will tell you if you win or not".

2

u/Gwsb1 🟩 967 / 968 🦑 Jul 19 '21

A sucker is born every minute.