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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Shit coin investment thread, low volume high risk high reward coins
#27275175 - 03/30/21 12:17 AM (2 years, 9 months ago) |
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Have at it.
Would try to give this an elegant opening like we have in the other cryptocurrency thread but I think shitcoins or poocoins explains it good enough.
It's worth noting that a lot of obscure shitcoins have extremely low volumes and can be difficult to trade if you are investing a significant amount. Also rugpulls are a common theme and could result in you losing 100% of your funds.
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: sh4d0ws]
#27275274 - 03/30/21 04:17 AM (2 years, 9 months ago) |
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Perhaps describing the difference, if there is one, between shitcoins and altcoins could be appropriate to help get this thread rolling.
I would have a go at it, but I really don't understand it well enough to explain it simply.
-------------------- KRAMER CAKES


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Enkidu
"No-Such-Person"


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Re: Shit coin investment thread, low volume high risk high reward coins [Re: george castanza]
#27275278 - 03/30/21 04:32 AM (2 years, 9 months ago) |
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-------------------- Within You , Without You
      
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mndfreeze 
Shroomery Secret Service




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Re: Shit coin investment thread, low volume high risk high reward coins [Re: george castanza] 1
#27275312 - 03/30/21 05:28 AM (2 years, 9 months ago) |
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Shitcoins generally don't have an actual project behind them or at least a project with any sort of possible value, or they are just outright scams. There are a lot of alt coins that have decent projects going for them with specific purposes beyond just acting like digital cash.
Dogecoin is a good example of a shitcoin. It was created as a parody/meme with no actual intended purpose but it just happenstance became a cultural phenomenon that it now has a huge market cap. A lot of other shitcoins want that same thing to happen to them. Be a meme, go viral, now everyone wants to own it just because of its name/origin but it has no legitimate purpose other than trading hands which makes it rife for scams and problems. The only hope these coins have for increased growth is staying in the meme spotlight basically. Otherwise they eventually tank.
Where as a coin like ripple, an altcoin, has a business planned project behind it. It's trying to become a fast maintstay payment processor for the banking industry. Wells Fargo has filed a bunch of crypto/ripple related patents and has a team dedicated to it. The coin may still fail if they don't get the business side done, but its obviously not in existence just to pump and dump.
-------------------- Nothing says love like grannies prolapsed anus! quote]Urb said: I know... Its fucked up... Ill fix it minyana..[/quote]
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: mndfreeze]
#27275983 - 03/30/21 03:55 PM (2 years, 9 months ago) |
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As someone who's something of a crypto-skeptic, I be interested in what you mean when you talk of an 'actual project'?
It seems to me that a lot of the criticism of shitcoins/poocoins by the 'serious' crypto folks sounds a lot like nocoiners talking about big crypto, but with different proper nouns.
-------------------- Knowledge is finite, ignorance is infinite.
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Enkidu
"No-Such-Person"


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Re: Shit coin investment thread, low volume high risk high reward coins [Re: LeafRaker]
#27276057 - 03/30/21 05:17 PM (2 years, 9 months ago) |
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I personally dont even trade alt coins besides btc and eth.
Though many people do.
Shit coins seem to be even below alt coins.
I use coinbase pro and they are a bit selective on what coins they offer.
Other coins are offered on other exchanges.
Not sure if shitcoins are even harder to dind exchanges that support them or not.
They seem to be extremely high risk and pump and dumps, while alt coins can be a bit more stable, and imo currently btc and eth hold the crown as the least risky, as they will more than likely be around for some years to come, whether they fall or not.
Meaning even if they were to plummet, they will come back in time, while some of these other coins might pump and dump to nothing forever in a rather short time frame
Anyone can feel free to add their opinion or differing belief, since i dont trade anything besides btc and eth, my knowledge on them is limited
-------------------- Within You , Without You
      
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budmanman
OTD Masterbater



Registered: 02/07/07
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Loc: PNW
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: mndfreeze]
#27276087 - 03/30/21 05:48 PM (2 years, 9 months ago) |
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Quote:
mndfreeze said: Shitcoins generally don't have an actual project behind them or at least a project with any sort of possible value, or they are just outright scams. There are a lot of alt coins that have decent projects going for them with specific purposes beyond just acting like digital cash.
Dogecoin is a good example of a shitcoin. It was created as a parody/meme with no actual intended purpose but it just happenstance became a cultural phenomenon that it now has a huge market cap. A lot of other shitcoins want that same thing to happen to them. Be a meme, go viral, now everyone wants to own it just because of its name/origin but it has no legitimate purpose other than trading hands which makes it rife for scams and problems. The only hope these coins have for increased growth is staying in the meme spotlight basically. Otherwise they eventually tank.
Where as a coin like ripple, an altcoin, has a business planned project behind it. It's trying to become a fast maintstay payment processor for the banking industry. Wells Fargo has filed a bunch of crypto/ripple related patents and has a team dedicated to it. The coin may still fail if they don't get the business side done, but its obviously not in existence just to pump and dump.
Doge coin transaction fee is .15c has one of the highest mining pools of the many top coins comparable to litecoin etc and each confirmation takes about 1 minute, 40 minutes to know your transaction is solid.
And ripple is the ultimate shitcoin, there is a project but the crypto has nothing to do with it really and he has so much he endlessly dumps on his supporters.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
Edited by budmanman (03/30/21 05:49 PM)
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budmanman
OTD Masterbater



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Re: Shit coin investment thread, low volume high risk high reward coins [Re: LeafRaker]
#27276088 - 03/30/21 05:49 PM (2 years, 9 months ago) |
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Quote:
LeafRaker said: As someone who's something of a crypto-skeptic, I be interested in what you mean when you talk of an 'actual project'?
It seems to me that a lot of the criticism of shitcoins/poocoins by the 'serious' crypto folks sounds a lot like nocoiners talking about big crypto, but with different proper nouns.
Bingo
Sept some shit coins are so shit they are actually a literal scam straight up.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: budmanman]
#27276138 - 03/30/21 06:27 PM (2 years, 9 months ago) |
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Quote:
budmanman said:
Quote:
LeafRaker said: As someone who's something of a crypto-skeptic, I be interested in what you mean when you talk of an 'actual project'?
It seems to me that a lot of the criticism of shitcoins/poocoins by the 'serious' crypto folks sounds a lot like nocoiners talking about big crypto, but with different proper nouns.
Bingo
Sept some shit coins are so shit they are actually a literal scam straight up.
I'm yet to be convinced that the mainstream coins aren't just larger and slower-moving scams...we'll see.
I'm more sympathetic to your trades than most. Seeing the chance for ultra-fast multiple returns with a small trade (what you might spend on the lottery or maybe a tad more) strikes me as smarter than throwing 4-5-6-7 figure sums at the big coins and all their weird off-shore infrastructure in shark infested waters.
-------------------- Knowledge is finite, ignorance is infinite.
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budmanman
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: LeafRaker]
#27276140 - 03/30/21 06:28 PM (2 years, 9 months ago) |
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My friend invested 5 dollars last night and diversified 60c each into several coins and had 17 dollars by this morning lol
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: budmanman]
#27276153 - 03/30/21 06:37 PM (2 years, 9 months ago) |
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He should buy you a drink with his winnings.
-------------------- Knowledge is finite, ignorance is infinite.
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Enkidu
"No-Such-Person"


Registered: 07/09/16
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: LeafRaker]
#27276171 - 03/30/21 06:52 PM (2 years, 9 months ago) |
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Give it a try and report back your loss and gains then leaf
-------------------- Within You , Without You
      
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LeafRaker
nomad



Registered: 11/28/11
Posts: 718
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: Enkidu]
#27276183 - 03/30/21 07:00 PM (2 years, 9 months ago) |
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I'm not that interested...but if I really wanted to play, I'd look at small bets in newer products, taking quick returns back into dollars.
I do have a long-standing interest in investment manias and how they end. I'm troubled by the opacity in the larger crypto currencies and can easily imagine an ugly end. In fact, I kind of hope all of you playing in the bigger coins have that possibility in the back of your heads.
-------------------- Knowledge is finite, ignorance is infinite.
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budmanman
OTD Masterbater



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Re: Shit coin investment thread, low volume high risk high reward coins [Re: budmanman]
#27276184 - 03/30/21 07:01 PM (2 years, 9 months ago) |
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This one has a rug pull encoded in it if the creator so chooses yet its going berzerk, that is so weird me and my friends skipped it.
https://poocoin.app/tokens/0x009e7b21617a23a69df821a0e6ae5643482a0826
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: LeafRaker]
#27276501 - 03/30/21 11:50 PM (2 years, 9 months ago) |
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Quote:
mndfreeze said: Shitcoins generally don't have an actual project behind them or at least a project with any sort of possible value, or they are just outright scams. There are a lot of alt coins that have decent projects going for them with specific purposes beyond just acting like digital cash.
Dogecoin is a good example of a shitcoin. It was created as a parody/meme with no actual intended purpose but it just happenstance became a cultural phenomenon that it now has a huge market cap. A lot of other shitcoins want that same thing to happen to them. Be a meme, go viral, now everyone wants to own it just because of its name/origin but it has no legitimate purpose other than trading hands which makes it rife for scams and problems. The only hope these coins have for increased growth is staying in the meme spotlight basically. Otherwise they eventually tank.
Where as a coin like ripple, an altcoin, has a business planned project behind it. It's trying to become a fast maintstay payment processor for the banking industry. Wells Fargo has filed a bunch of crypto/ripple related patents and has a team dedicated to it. The coin may still fail if they don't get the business side done, but its obviously not in existence just to pump and dump.
Succinct and informative, thank you. 
Quote:
LeafRaker said:
I do have a long-standing interest in investment manias and how they end. I'm troubled by the opacity in the larger crypto currencies and can easily imagine an ugly end. In fact, I kind of hope all of you playing in the bigger coins have that possibility in the back of your heads.
Anyone who is willing to step out their own front door acknowledges that there are risk that come with interacting with society, being in a large city, or out in the middle of BFE for that matter. Some people make more calculated moves than others, that is one thing I do know for sure.
The crypto market is exploding like the stock market of the 1920's, I wonder how its going to play out, a hundred years later, basically the same structure, same plague/pandemic scenario rocking the sidelines too, history seems to be looping again.
-------------------- KRAMER CAKES


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LeafRaker
nomad



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Re: Shit coin investment thread, low volume high risk high reward coins [Re: george castanza]
#27276861 - 03/31/21 08:20 AM (2 years, 9 months ago) |
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What gets me about crypto plays is that they feature the weird solution-ism fantasies of neckbeards (cryptographers) mixed with an astounding naivete about money and finance as well as the largest regulatory arbitrage in human history.
A few players in crypto are probably big-time whales/sharks and almost everybody else is krill. This difference exists to some degree in all markets, but is likely even starker with crypto and in truth there's less to fight over than their usually is. Unless your convinced that entries in a database is where things are at for the future, I'd trade as if the whole thing could go tits up at any time.
-------------------- Knowledge is finite, ignorance is infinite.
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Kryptos
Stranger

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Re: Shit coin investment thread, low volume high risk high reward coins [Re: LeafRaker]
#27277110 - 04/21/21 03:45 PM (2 years, 9 months ago) |
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I think of established crypto like BTC and ETH as gold.
Ultimately, the cryptocurrency itself, much like gold itself, is useless for 99.99% of the population. You can;t eat gold, you can;t drink gold, you can't sleep in gold. Apart from a few high skill industries like jewelry and electronics, gold is worthless. Yet it is considered a solid, if conservative, investment. Great hedge against inflation.
Same thing with bitcoin/ethereum. for 99.99% of the population, they are currently useless. Apart from some experimental blockchain projects, which are at the proof of concept stage, they are also useless. Yet I am heavily invested into bitcoin and ethereum, because I consider it a solid, if conservative, investment. Great hedge against inflation. Right now, various cryptos make up about 25% of my portfolio, with bitcoin 70% of that. I gotta be honest, cryptos have given me the best ROI in my several years of passive investing, though I've gotten the best returns off tezos and stellar lumens, not bitcoins. Hence why I call bitcoin a "conservative" investment.
Shitcoins are cryptos that have no experimental blockchain projects attached. While I'd almost argue that bitcoin falls into this category, it has the distinction of being the first, which makes every other experimental blockchain project (like ethereum's idea of essentially real life microtransactions instead of the current system of contracts) part of bitcoin. If people lose faith in bitcoin, I don;t think there will be any faith in useful blockchain projects either.
EDIT: I guess that make ETH something like palladium. Still gambling on metals, but there is the potential for huge demand down the line once the etherium equivalent of catalytic converters comes along.
Edited by Kryptos (04/21/21 03:54 PM)
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budmanman
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: Kryptos]
#27277591 - 04/22/21 12:10 AM (2 years, 9 months ago) |
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Holy fuck I made so much money on safe moon and safe mars lmfao.
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
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budmanman
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: budmanman]
#27277592 - 04/22/21 12:11 AM (2 years, 9 months ago) |
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Oh wait this thread is for low volume coins I should be posting about these coins in the main crypto thread as these coins had hundereds of millions of dollars in volume.
Safemoon etc had so much volume they crashed the entire BNB smart chain network and Binanace had to suspend withdrawals LMFAO
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
Edited by budmanman (04/22/21 12:13 AM)
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budmanman
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Re: Shit coin investment thread, low volume high risk high reward coins [Re: budmanman] 1
#27277595 - 04/22/21 12:16 AM (2 years, 9 months ago) |
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lmao it was over 30,000,000% This was fucking awesome. It was fighting for 60,000,000% at one point lmao
-------------------- Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal. And I am mentally unstable.
Edited by budmanman (04/22/21 12:17 AM)
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