01-02-2022, 03:30 AM
Friendly advice for any beginners: be VERY cautious when discovering coins via r/Cry
<!-- SC_OFF --><div class="md"><p>For those of you who don't know what <a href="/r/CryptoMoonShots">r/CryptoMoonShots</a> is all about, it's essentially a subreddit where people will heavily shill a particular coin, making unrealistic claims about the coin's price potential (you'll often see lines such as "easy 100x gains"
, promoting the coin's community (which is very likely to largely be paid bots on Discord/Telegram), and hyping up the coin's use-cases (which are always speculative and most likely will never come to fruition).</p> <p>It's easy, when you're new to crypto and have heard that it can make you a lot of money in a short period of time, to think that some of these coins being shilled on the sub could actually make you a generous return on your investment, but if you look at some of the projects that have been shilled on the sub in the past, and look at their prices now in comparison to when they were shilled, you'll see that a large number of these coins have actually experienced a large price fall, with some of them even being outright rugpulls.</p> <p>Now, I'm not going to outright tell anybody <strong>not</strong> to invest in a coin that is shilled on that subreddit, because everyone is free to spend their money as they please, and there probably are some coins shilled on there that will make people money, but just be cautious that it is fundamentally a platform for shilling, and most of what you'll read about a coin's potential is going to be nonsense. They might claim that they're going to revolutionise cryptocurrency – they definitely won't.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/killah10killah"> /u/killah10killah </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtu44d/friendly_advice_for_any_beginners_be_very/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtu44d/friendly_advice_for_any_beginners_be_very/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>For those of you who don't know what <a href="/r/CryptoMoonShots">r/CryptoMoonShots</a> is all about, it's essentially a subreddit where people will heavily shill a particular coin, making unrealistic claims about the coin's price potential (you'll often see lines such as "easy 100x gains"
, promoting the coin's community (which is very likely to largely be paid bots on Discord/Telegram), and hyping up the coin's use-cases (which are always speculative and most likely will never come to fruition).</p> <p>It's easy, when you're new to crypto and have heard that it can make you a lot of money in a short period of time, to think that some of these coins being shilled on the sub could actually make you a generous return on your investment, but if you look at some of the projects that have been shilled on the sub in the past, and look at their prices now in comparison to when they were shilled, you'll see that a large number of these coins have actually experienced a large price fall, with some of them even being outright rugpulls.</p> <p>Now, I'm not going to outright tell anybody <strong>not</strong> to invest in a coin that is shilled on that subreddit, because everyone is free to spend their money as they please, and there probably are some coins shilled on there that will make people money, but just be cautious that it is fundamentally a platform for shilling, and most of what you'll read about a coin's potential is going to be nonsense. They might claim that they're going to revolutionise cryptocurrency – they definitely won't.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/killah10killah"> /u/killah10killah </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtu44d/friendly_advice_for_any_beginners_be_very/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rtu44d/friendly_advice_for_any_beginners_be_very/">[comments]</a></span>Kind Regards R