Are Memecoins the ultimate crypto project?

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Hustlebuddy

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This might be an unpopular opinion, but I believe memecoins have really helped to lower the entry barrier for people wanting to get involved in the world of crypto, even more than the current mini game trend.

Take Dogecoin, for example, its rise in popularity, backed by high-profile endorsements from figures like Elon Musk, showed that you didn’t need deep technical knowledge to get involved.

There are so many examples like this, that makes it a lot easier for many people to invest and profit from crypto.
 
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''backed by high-profile endorsements from figures like Elon Musk''

so it's backed by nothing?

I don't quite understand, what is the actual goal of crypto? people say it's decentralized money, but it's already heavily regulated. Also the image of crypto does not represent ''money'', it's always just a ''Buy low, sell high.'' lucky asset.
 
Hustlebuddy said:
This might be an unpopular opinion, but I believe memecoins have really helped to lower the entry barrier for people wanting to get involved in the world of crypto, even more than the current mini game trend.

Take Dogecoin, for example, its rise in popularity, backed by high-profile endorsements from figures like Elon Musk, showed that you didn’t need deep technical knowledge to get involved.

There are so many examples like this, that makes it a lot easier for many people to invest and profit from crypto.
Click to expand...
it's possible to make money with meme coins but not easy any more, too many people doing it maybe. better if there is some real utility?
 
I think you're right, they're a fun easy way to get into crypto. I see them being more popular as they get easier to buy but we'll see
 
Proxy Cake said:
I think you're right, they're a fun easy way to get into crypto. I see them being more popular as they get easier to buy but we'll see
Click to expand...
Yeah, and at the moment there's so many of them out there, it's just about finding the right ones.
Are you holding anyone currently?
 
milfordgeffrey said:
''backed by high-profile endorsements from figures like Elon Musk''

so it's backed by nothing?

I don't quite understand, what is the actual goal of crypto? people say it's decentralized money, but it's already heavily regulated. Also the image of crypto does not represent ''money'', it's always just a ''Buy low, sell high.'' lucky asset.
Click to expand...
When it comes to meme projects a lot of them just have sentimental value, and they mostly depend on trends and hype.
But they are also very easy to engage with, hence their releveance in the crypto space.
Asides meme projects, there are other crypto projects with very impressive use case, and they're not neccessarily centered around the "buy low, sell high" rhetoric.
 
DrRoo said:
it's possible to make money with meme coins but not easy any more, too many people doing it maybe. better if there is some real utility?
Click to expand...
Yeah, that's the point, it's almost too easy to make money off them, hence the saturation.
I still think there are good ones out there, you just have to be able to find them in time.
 
Depends on some factors.

Are you the one launching the memecoin?
If so, do you have a group of trustworthy people who can help you hold the floor?

If you aren't the one launching the coin. What marketcap are you getting into these coins that you're investing in?
Where do you find them? Do you have groups, do your own research, or listen to advice from friends?

Many people make a killing daily in crypto. Like multi five figure days. But there are always underlying factors.
If you know what you're doing, you can turn hundreds into thousands into millions.

It's a game like everything else. Just need to know how to play it.
 
Hustlebuddy said:
This might be an unpopular opinion, but I believe memecoins have really helped to lower the entry barrier for people wanting to get involved in the world of crypto, even more than the current mini game trend.

Take Dogecoin, for example, its rise in popularity, backed by high-profile endorsements from figures like Elon Musk, showed that you didn’t need deep technical knowledge to get involved.

There are so many examples like this, that makes it a lot easier for many people to invest and profit from crypto.
Click to expand...
The lower entry level people should stick with solid coins like bitcoin. If you have like very surplus amount of money, then only think about gambling with meme coins.
 
Meme coins are basically a community-based project So in some way building a community is better than building a project without a community.
 
Hustlebuddy said:
This might be an unpopular opinion, but I believe memecoins have really helped to lower the entry barrier for people wanting to get involved in the world of crypto, even more than the current mini game trend.

Take Dogecoin, for example, its rise in popularity, backed by high-profile endorsements from figures like Elon Musk, showed that you didn’t need deep technical knowledge to get involved.

There are so many examples like this, that makes it a lot easier for many people to invest and profit from crypto.
Click to expand...
You are right actually, memecoins provide a low barrier of entry for people to trade and you don't have to do that much research actually .

Just recently after Binance listed two tokens, I randomly discovered NEIROOTC and I've actually traded a few bit on Bitget and made some minor profit so yeah
 
well one shit coin is the pambi coin, a shit coin that scammed illiterate users buying a useless project to get quick 500k. so if this is your thing then by all means
 
Umm, to be honest memecoins is a lot like gambling. Especially investing in small and mid cap ones. Even most of the big ones don't provide any utility and have no true value. They are also like gambling but less risky
 
milfordgeffrey said:
''backed by high-profile endorsements from figures like Elon Musk''

so it's backed by nothing?

I don't quite understand, what is the actual goal of crypto? people say it's decentralized money, but it's already heavily regulated. Also the image of crypto does not represent ''money'', it's always just a ''Buy low, sell high.'' lucky asset.
Click to expand...
There's no goal of crypto. The cryptocurrency market is part of the financial markets where people invest in the best ways that they think they can make good money.
 
Hustlebuddy said:
This might be an unpopular opinion, but I believe memecoins have really helped to lower the entry barrier for people wanting to get involved in the world of crypto, even more than the current mini game trend.

Take Dogecoin, for example, its rise in popularity, backed by high-profile endorsements from figures like Elon Musk, showed that you didn’t need deep technical knowledge to get involved.

There are so many examples like this, that makes it a lot easier for many people to invest and profit from crypto.
Click to expand...
While I do partly agree it tends to attract a good amount of eyes, I sometimes feel like it also pulls in a lot of people who ape in without fully understanding what they’re investing in. Each new bull run it’s always the same stories of newcomers losing their savings in some ElonTitty coin and wondering how it didn’t make them a miljonaire.

I think solid advice for anyone looking to start their crypto investing adventure would be by starting with investing in education about the fundamentals of cryptocurrency - it’s a pretty much guaranteed way to open people’s eyes to what inflation is and how bitcoin can solve a lot of economical issues.


Brrrrrrrrrrrrrr
 
Hustlebuddy said:
This might be an unpopular opinion, but I believe memecoins have really helped to lower the entry barrier for people wanting to get involved in the world of crypto, even more than the current mini game trend.

Take Dogecoin, for example, its rise in popularity, backed by high-profile endorsements from figures like Elon Musk, showed that you didn’t need deep technical knowledge to get involved.

There are so many examples like this, that makes it a lot easier for many people to invest and profit from crypto.
Click to expand...
No different than gambling at a casino, you might get lucky rolling the dice once but do it again and you'll lose it all. Most 'Success' stories are insiders getting first dibs and rugging.
 
R.L.Stein said:
Depends on some factors.

Are you the one launching the memecoin?
If so, do you have a group of trustworthy people who can help you hold the floor?

If you aren't the one launching the coin. What marketcap are you getting into these coins that you're investing in?
Where do you find them? Do you have groups, do your own research, or listen to advice from friends?

Many people make a killing daily in crypto. Like multi five figure days. But there are always underlying factors.
If you know what you're doing, you can turn hundreds into thousands into millions.

It's a game like everything else. Just need to know how to play it.
Click to expand...
I really enjoyed reading this mate, and you're right knowing how to play the game is how you win. That said, do you have any suggestion for finding meme projects or even general crypto projects with potential early?

Like what are the things to look out for?
 
seomaster5 said:
The lower entry level people should stick with solid coins like bitcoin. If you have like very surplus amount of money, then only think about gambling with meme coins.
Click to expand...
This is good advice, but I've seen a lot of people argue that you need a good starting amount if you'd make profit holding BTC, and time is also an issue.

But yeah, BTC is a lot safer especially for newbies.
 
Suzu said:
While I do partly agree it tends to attract a good amount of eyes, I sometimes feel like it also pulls in a lot of people who ape in without fully understanding what they’re investing in. Each new bull run it’s always the same stories of newcomers losing their savings in some ElonTitty coin and wondering how it didn’t make them a miljonaire.

I think solid advice for anyone looking to start their crypto investing adventure would be by starting with investing in education about the fundamentals of cryptocurrency - it’s a pretty much guaranteed way to open people’s eyes to what inflation is and how bitcoin can solve a lot of economical issues.


Brrrrrrrrrrrrrr
Click to expand...
This is spot on, and yes you can never go wrong investing in educating yourself, especially because in crypto, the more you know, the more options you have.
 
K6d021 said:
No different than gambling at a casino, you might get lucky rolling the dice once but do it again and you'll lose it all. Most 'Success' stories are insiders getting first dibs and rugging.
Click to expand...
What would be your advice for newbies then, because a lot of them come in with the expectation of making some kind of crazy returns that would retire them for life.
 
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