2020 and 2021, but mostly 2021, were known as the years of the BSC shitcoin casino, where if you were lucky, daring, and stupid enough to buy in at the right time into what were obviously memecoins with no tokenomics behind and no actual project in front, and some times even no team at all, you could actually make insane returns.
Of course, everyone with a brain and some experience in crypto knew these pump and dump schemes were scams and all the founders wanted was to literally steal your funds through market manipulation, liquidity blockades while counting on your greed and lack of experience to play ball.
A lot of people lost a lot of money, there were a lot of suicides in 2020 due to this Shitcoin Casino, but there were also people who made a killing if greed wasn't a factor and you actually knew when to jump out of the boat once you made a significant return.
It seems like the Shitcoin Casino is back
It actually never went away, but these scamcoins require funds upfront from the scammers to be able to manipulate the market. No matter how little volume and market cap the fake market has, these scammers need some crypto to be able to scam you out of yours. The shitcoin casino is usually orchestrated by people from India, Pakistan, Korea, Philippines, and some other countries. They work as a team of paid shills trying to promote the next big thing in crypto and finance forums, while talking about big returns and trying to bank in current events to support the theory of this time it's for real, this is the next 100x coin.
Yesterday morning I read about the Monkey Pox outbreak in 14 countries and how it could become a world wide threat, and since I had nothing better to do I decided to search for meme tokens surrounding this event.
And who would have guessed, I found a shitcoin called DogePox Inu, and then after a quick search I found those threads that are obviously started by paid shills and only paid shills participate in the thread until an amateur walks by, gets hooked and well, buys into the token.
These token scams rely on many random rookies buying in and staying in because of greed, and while the scammers manipulate the market to make it look as if the token's lows are always higher than the previous low, and the recent highs are always higher than the previous high... well, that's a great formula for scamming rookies who think of themselves as crypto experts just because they've been in the crypto space for 3 months.
But what I noticed is that the token has only made a 3x return from the lowest lows, and it had only been trading for a few hours and I thought well, this is a great topic to write about on Leo Finance.
I am still waiting for a great entry point to begin my 10x return on 10k project (the one I talk about in my introduction post) but, I wanted to write about this.
Anyway, I bought in, 50 bucks just for shits and giggles, and because I knew that this was almost a sure 2x in one day. The only thing you have to take into account when buying into this obvious scams is that you can't put in a lot of money or you will not be able to cash out once you want out of the shitcoin.
This is the normal life chart of a scamtoken in the shitcoin casino, and ideally you want to get in around the green circle, and you want to get out around the orange arrow:
Today, I got in around 2 am. I bought 900,000,000 for 50 bucks, but I only got 837M because of slippage, which is something you have to take into account when buying scamcoincs. I got in at around at an entry price of 0.00000007000
Then I kept my chill, had a cigarette and went to bed. Today, I woke up and checked the chart, saw that I was already up around 80%. Had I sold all of it I would have ended with around $90 before slippage, but I wanted to make a 2x to write about that on Leo.
So I sold $50 to recover my initial investment, and maybe to wait for another spike and perhaps cash out a 3x with my remaining 50 bucks inside the shitcoin vault. This was about 1pm, my time, around 9 hours after I made my initial buy order. The sell price I got was around 0.00000013000
Then, after watching the market behavior and obviously noticing the scammers either has put in everything they had into the token OR they just couldn't find anyone else to scam, and considering I had already made a 2x return for this post, I decided it was time to jump the boat.
I sold around 16:00 at a price of around 0.00000012500, still pretty good if you ask me.
And just like that, I scammed the scammers and took $50 out of their own money. The funny thing is that around 3-4 hours after I jumped the boat, the token started dying out and right now, it is nothing more than a successful rugpull that most likely scammed some money from honest people trying to make a quick buck.
I got the upper hand this time, but it's not always like this, and I don't recommend buying into these obvious scams, unless of course, you are making a post for Leo Finance and want to talk about your experience.
I'll be back with more Shitcoin Casino stories, I hope you liked this one.
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I love this "shitcoin casino" concept lol. Congratulations and fuck you.
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The golden days are over, but you can still fuck the scammers back every now and then. Thank you and fuck you.
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So nice to think about fucking scammers.
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That's some really good profits in less than a day.
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It was for shits and giggles, like in the casino, the house wins most of the times. For every 2x you can make in the scam world you will have a -100% nine times.
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That's right though. That's why some smart gamblers say when you win, better not go back because the house will always take it back, lol!
Glad you can get out before any rug pulling happens.
Trading has always been emotional for me in the cryptocurrency world, which is why I prefer, not trading or gambling at all to stay emotionally stable. I like how you set your aim and go for it without greed getting in the way. Not so many can pull this off !PIZZA
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I don't think I can pull that off frequently, it was just luck and good timing, it usually goes the other way and you end up with a -100%. What the pizza token? Is this a layer2 token?
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I get your point.
Pizza is an engagement token on Hive used for tipping comments.
You need 20+ PIZZA to use the ! pizza command daily. I can help you with their discord link if you're interested in the project.
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PIZZA Holders sent $PIZZA tips in this post's comments:
@marvinix(1/5) tipped @investing-dude (x1)
Learn more at https://hive.pizza.
That’s really cool. 100% return. Awesome!!
Lucky more than awesome, but I was glad to fuck the scammers back.
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I know a bastard who scams people with projects like this, like BNB miner or one with bean names.
His name is Newman perez and although people defend him as the messiah of crypto finance, the truth is that he is a scammer who has a great lip to deceive people, the worst thing is that there are more than 50K people who buy when he buys and sell when he says, hahaha something like this.
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The worse place to follow financial advice is in Youtube and Telegram, and yet, those two are the places with most traffic and rookies falling for pump and dump schemes. Leo Finance feels different, but I still have to research more about this community before I can give a verdict. Thanks for commenting.
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You are right, those places are to trap the unwary.
And that's right, don't go by what others may say about leofinance, it's better to convince yourself if this is for you or not. That is the best mentality.
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If anyone wants to treat the shitcoin market as the casino that it is, he or she may as well treat it like the casino and go in with a plan to execute. It's not for everyone, but it may be a better move than day trading in general or trading with standard cryptos or more established memecoins such as DOGE and SHIB.
DOGE and SHIB can be considered tokens for "buy-and-forget" HODLers. The shitcoins, on the other hand, are more for "buy-then-sell-then-done" transactions. If I knew what I was doing, I would do more of it.
Have other posts in this series been published? Either way, I look forward to the next installment.
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Not yet, I just became part of Leo around a month ago. I created my account around a year ago but I never cared about posting, hopefully I can publish more stuff more frequently.
The only Buy and forget coin is BTC, any other coin depends on the community and the economics behind, as well as the team/DAOs that keep developing under the table. My best advice is, if you want to invest in any other token, you should be very well familiarized with all the topics above and never just "buy and forget", but that's just me.
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When it comes to posting here, the best advice is just to post what you know. If it's HODL, post about HODL. If it's wheat, post about wheat. If it's shitcoins, post about shitcoins. If it's about your success with shitcoins, even better; if it's about getting REKT with shitcoins, that's useful too; just keep it real.
When people see how you make things work in your favor, they'll engage with you, and when you engage in return you'll attract more readers. It will take time, and engagement never ends. However, over time it's the more solid strategy for growing as a Leo and as a Hiver overall.
Most people posting here focus on the major cryptocurrencies along with BTC. With thousands of altcoins out there, though, many of us wonder if there is an effective strategy for dealing with them beyond "don't buy them." These would be strictly for speculation or short-term gains, but even then we can't go into them blindly. I think posts on these coins (or at least how we can profit from them as casino plays) have value and would definitely fit within LeoFinance.
Does this advice go for shitcoins as well? Or is the post hosting these comments enough of a blueprint for dealing with shitcoins?
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I should have asked these questions earlier:
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These rug pulls only last around 2 days, and you have to be very early to make a profit, but not so much because then the rug gets pulled because of you. You have to buy small and let other people get rugged while you ride the pump.
Personally, I don't recommend even thinking about buying these shitcoins, I was just lucky.
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Ah, OK. So it's essentially using The Force as you find shitcoins for short-term gains. Most aren't worth the time and effort, but for those which pass through your filter as shown by the example graph you put in a few units of local currency.
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This is what it's means when you know what you are doing in the market,no greedy,no fear, just focus
Almost nobody knows what they're doing, myself included but yes, no greed and no fear is usually a good strategy to make a profit while you can.
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