The Shit Coin Saga

  1. It’s great if you have a few hundred bucks to throw away. I was putting $300-400 into random brand new shitcoins that had a large telegram following and walking away with $5k within 20 minutes. Basically did exactly what you said.

  2. Worked very well for me with tokens on algorand too. Check new tokens on tinychart -> investigate to decide if it's not an immidiate rug -> swap on tinyman -> take initial investment out - profit.

  3. Don’t be greedy. Personally I feel if you’re gonna play around with junk, which is fine, then take what you can and move to the next. It’s no different than penny stocks.

  4. All this did is convince me to buy shitcoins lol, this guy put in like 10 bucks and came out with a couple grand, that's incredible

  5. The scammers are evolving, I swear, they're going for multi-rugs now. Couple days ago I saw one rug, then throw up a thing saying they would refund.....but the site to refund required you to connect your wallet to a shady dapp and had been created *days before launch*.

  6. OP I genuinely enjoyed this, not as loss porn but more that you've learned and moved on; your story is well-told too. Hope you and your partner are still in crypto and going OK.

  7. Thanks man. Yep, we’re still in crypto and staying far away from shit coins. The hardest lessons to learn are usually the most valuable. I’m glad I stayed in crypto and I’m still way up from my initial deposit.

  8. But honestly why’s no one talking about the fact that maybe he wouldn’t even have been able to sell those coins in the first place?

  9. He literally didn’t learn his lesson, he got rug pulled 5 times in a row and never stopped or cashed out of a single one

  10. The lifespan of a bsc shitcoin in this market is probably a few hours before it’s dead. These projects give crypto a bad name tbh. For every guy like me that stayed in crypto after their experience with shit coins there are 5 more who never come back after being scammed.

  11. Gotta learn somehow I guess haha. I was brand new to the space and thought these projects were legit. Yeet token hit 16m market cap, wrap your head about that. It’s fucking nuts that these shit coins pump as much as they do. Hopium in numbers is a hell of a drug.

  12. Everybody here’s take away: “ omg he made xxxx dollars from putting in a few bucks on a shit coin. I’m gonna find me a shit coin!!”

  13. As said by many posters OP is the definition of "taking it in stride." That said kudos sir, you are calling winning ponzi,it is in the taking it out early.What other shitcoin to you recommend,I got $5 USD to lose.

  14. I’m not in shit coins anymore but anything meme worthy always has a chance. People mistakenly look for utility in shit coins, it’s all about the name and how marketable it is to morons. For example, squid tokens went nuts when squid games came out on Netflix. Also get out after the first pump, they never recover and die a slow agonizing death.

  15. I bought about 1eth worth of Shib a couple weeks after launch in January 2021. 11 figures of shiba inu tokens

  16. Yeah man. It’s the greed that gets you. I started calculating how much I’d have at 10m market cap, then 20m, etc. I saw so many shit coins during that time pump to 100m or more so I thought why not this one. Reality is I had no idea what I was doing and chose to believe these so called experts in the telegram channel and held.

  17. Had you have tried to withdraw that 25k you might also have been hit with the old 45% slippage trick or couldn't swap it at all. I too have been to Shitcoin University. It costs a lot but oh boy do you learn. Then I moved to investing in ETH. That ended well....

  18. Or, hear me out, invest in it but sell before it rugs. My issue hasn’t been finding good projects, it’s been bag holding into the fucking ground. But, I’m not in shît coins anymore, so your bags are safe.

  19. I mean, is this a reason to buy into pump and dumps? You feel bad having lost $23k "on paper" - but that was never real. You turned $25 into $2200... Sign me the fuck up.

  20. That's so bad.. Wow I never looked into safemoon. Good to know that guy has a giant target in his back and he's just flashing his cash. Things might not end well for him.

  21. moral of the story: If your shitcoin blows up nearly 5,000X, sell 90% of your holdings while you can.

  22. i turned 700 into 16.000 at a high, escaped with 8.000 in the end. buying coins on moonshotcrypto threads and using poocoin trending coins. it was a beautiful month!!! but i trade so i understand risk management etc. that time was fucking absolutely mental. i'm glad you are doing well now. to be honest i think all of crypto is a scam. a ponzi scheme. as money is. whoever is first controls the rest. nothing different, business as usual. currently it can be used as a way to make money fast but there is not really any intrinsic value to any of it. especially as bitcoin was taken over by government interests, game over on the liberty front too. bit of a rant there sorry. enjoyed your story. you have experience now which counts for a lot!

  23. Yeah I learned this lesson when my friend made a shitcoin and rug pulled me along with a bunch of other friends. Not to mention the entire community he had been hyping up around it. He gave us our initial investment back but I suspect he took all the profits.

  24. I never considered myself a greedy person until that. Lessons learned and I look back and laugh at it now. I’ve made better decisions black out drunk.

  25. I could never really figure out how to buy shitcoins. Before the current market I'd have definitely gambled a couple bucks(50 or so) on low market cap ones.

  26. Thank you sir. I’m buying legit coins now but it just doesn’t kick like a bsc shit coin does. I miss the degen sweats now and then but then give my head a shake and realize I actually enjoy keeping my money.

  27. God. I was in yeet with the exact same story of how as you, lost a couple thousand dollars in it. Left the group and glad I did after reading this.

  28. Or play stupid games with 25 bucks and miss out on 25k but still cash out 2200? Haha. But yeah, I was a big ole dummy in the beginning. Learned from it though.

  29. This was well worth reading, OP! Thanks for sharing. You got a skill which enables you to tell this story without it being a classic pump/dump story.

  30. Thanks man, I really appreciate the kind words. Ive found a lot of helpful advice on this subreddit and can’t wait for the bull market hopium to return.

  31. I laugh now but yeah it’s wild how people lose everything on these coins. I actually never lost money, I’m still way up on my first deposit even though I missed out on 25k.

  32. Fantastic story. How we can have people that look at something called “Yeet” token and think “yeah, I’ll buy that” is beyond me.

  33. You prob wouldn't have been able to cash out, anyone can create a token, put whatever price. Doesn't mean that their is real money.

  34. Ok. You didn't lose 25k, you lost 25$. Your sad story is about the fact you didn't make your profit on a shitcoin and how you're eating yourself because of that. Don't, at least you weren't the one who fucked someone over. Although those dev guys seem like they should've been fucked over.

  35. I was one of the first 500 holders of safemoon. First days are so fking stressfull, constant fud and volatility. I couldn’t bear it and left the project with even. Than like a week or so later it boomed hard. I calculated if i hold there i’d have had 1.7 mio dollars.. (i was ok if i made 2 or 3x of my initial…) that made me depressed af for a month.

  36. Yeah, my story doesn’t compare to some of the other stories out there. I read about the guy who forgot to claim his 500 dollar safemoon pre sale buy. A year later he eventually remembered and sold it for 60 million. Like wtf, we live in a simulation.

  37. Bruh I've missed on nearly $10k simply as my order didn't go through 🙃 The plan was a quick in and out within hours. I cringed while the price shot up.

  38. Seems to me like there never wouldve been enough liquidity for you to cash out that much anyway

  39. What does one do if they say, have a S-coin go to $5000 and you want to take profit? Swap the S-coin for USDC? How do you grab your profit before it falls?

  40. Yeah, you can swap it for any token native to bsc. Most people just swap it for BNB but you can swap it to BUSD or any other token on BSC. I once swapped astrokitties token for a token just called balls. Not my finest moment.

  41. this is why i will have 80% + in btc, even Eth i will threat like a risky investment. yeah, i will not 100x my money, i am fine with 5x long term.

  42. This is like that movie Wolf of Wallstreet except in the end you lose everything, aren’t cool and definitely aren’t Leonardo DiCaprio. 10/10

  43. i thought i could get in an out of a shitcoin within 3 days because i figured they usually took around 4 days to a week to rug...

  44. I watched 2k turn into 40k in less then one week and tried to sell and pancake swap went down. Was less then half within 2 hours lol. Shit coins were something else

  45. Clearly you have a gift to find scams!! Now why don’t use it? Wu don’t take profit when you reach a lot? I mean, we are all here to make money (despite if you are a moon boy or just want to invest)

  46. It's more enjoyable to be a degen gambler on Algorand. The availability of AlgoScout ensures that one is able to filter 99% scams. Plus Algo is easy and cheap to use. Fast as well.

  47. And now it makes sense how trump is able to get millions in donations - millions of you exist

  48. I laugh my ass off about it now. I’ll survive financially and didn’t lose anything really. Just a funny story about greed and lack of brain cells.

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