How much are the shitcoins creators actually making?

[Deleted member 1132725]

I did some brief Google research and figured that it's relatively easy to create your own shitcoins so I am wondering how much these guys actually make before they call the day.

I am talking about scammers here and not legit projects, 99% of all these alts end up in trash anyways so it's hard to determine which one was a failed project and which one straight up scam.

This got me thinking, how much money are most of them banking with this? How many of them are hitting 7-figures?

Their blueprint/strategy is quite shite or non existent to be honest, no marketing, shifty website, copied white papers and reddit promotions.

Even today there was a guy here who asked help promoting his shitcoin in Reddit.. like you can't afford to buy a high karma reddit account for 10 $ but are still invested in this scam.. this has to be extremely profitable, otherwise all these people wouldn't waste their time.

What you think?

 

[PremiumAds]

I guess it depends, some of them must not make much money as they coin itself never achieved anything, but I guess some projects can get lucky (like dogecoin) and then the creators will make big bank

 

[Deleted member 1132725]

I guess it depends, some of them must not make much money as they coin itself never achieved anything, but I guess some projects can get lucky (like dogecoin) and then the creators will make big bank

Dodge should be out of equation. It's massive, I am talking about much smaller ones.

 

[andyframpton]

There is money to be made from any shit coin if you are just pump and dumping it.
It’s just getting people to join the hype.

 

[SocialManager]

My guess from a week of watching them: Most of them are under $100,000, probably under $25,000.

Reasoning:

First, the prices fluctuate too much, these guys simply cannot dump their coins on the market without driving it to $0 everyone realizing it is a scam. You dump $1,000 on the market and it can kill many of these coins almost immediately. I am guessing they end up buying their own coins with different addresses to make it seem like there is interest, so they are probably continuously investing in their own scam to keep it going long enough to see a return.

Second, if they were making more than $25,000, they would put more effort in their second time. We would be seeing much more sophisticated scams with better marketing. Most of the marketing I am seeing can be done for under $200 for the total scams. These are 1-2 day tokens. We wouldn't even see these ones because the market would be so flooded with higher quality marketing, nicer websites, big twitter followings etc.

Like, if you have $100,000 from your last scam, and you don't even have a twitter with 10,000 followers for your next one.... you need to spend more time studying internet marketing.

 

[Deleted member 1132725]

My guess from a week of watching them: Most of them are under $100,000, probably under $25,000.

Reasoning:

First, the prices fluctuate too much, these guys simply cannot dump their coins on the market without driving it to $0 everyone realizing it is a scam. You dump $1,000 on the market and it can kill many of these coins almost immediately. I am guessing they end up buying their own coins with different addresses to make it seem like there is interest, so they are probably continuously investing in their own scam to keep it going long enough to see a return.

Second, if they were making more than $25,000, they would put more effort in their second time. We would be seeing much more sophisticated scams with better marketing. Most of the marketing I am seeing can be done for under $200 for the total scams. These are 1-2 day tokens. We wouldn't even see these ones because the market would be so flooded with higher quality marketing, nicer websites, big twitter followings etc.

Like, if you have $100,000 from your last scam, and you don't even have a twitter with 10,000 followers for your next one.... you need to spend more time studying internet marketing.

Exactly my thoughts.

Is it lack of knowledge? The guy was offering money to anyone with a Reddit account.. why aren't you buying one for 10$?

Are most of these crypto guys in dark when it comes to basic blackhat SEO & social media marketing (READ SPAMMING)?

Seems like they don't know the basics but they are still banking somehow.. got me thinking what could I pull out when proper time and funds invested, not saying I am going to do it but if the money is right then...

 

[pendulaa]

How much will ETH be by the end of the year ?

 

[G]

How much will ETH be by the end of the year ?

4563.18$

 

[pendulaa]

4563.18$

nailed it