About shit coins | Bitcointalksearch.org

zasad@

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Quote from: Alisha-k on April 24, 2023, 02:11:59 PM

In conclusion, shitcoins are a significant issue in the cryptocurrency market. They are often created as a quick way for their creators to make a profit, and their value is driven purely by speculation. The lack of regulation in the cryptocurrency market makes it challenging to distinguish legitimate cryptocurrencies from shitcoins, and investors should be aware of the risks before investing in any cryptocurrency.

Source: https://chat.openai.com/c/0f4921a4-1edd-4337-8ba9-299037e59972

Then try launching your project with a new shitcoin and try to sell it to the community. This is what all scammers dream of. But if you delve into the details and understand how projects are added to the exchanges, who performs the services of a market maker and what requirements are presented to projects, then this is not so easy to do now. The rookie doesn't stand a chance.

Ojima-ojo

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This article is likely not for people like us since I pay zero attention to other coins apart from Bitcoin and this has given me a lot of peace and stability instead of jumping on the hype of altcoins projects that could possibly cost me my sleep and peace of mind.

I am not doubting the fact that we have some altcoins that have hard some proven track records in thos industries but the question is, how long can we really rely on their credibility to sustain their present market positions, so this is the more reason why shitcoins should be avoided or taken as just a gamble.

MCUKing

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Quote from: nakamura12 on April 24, 2023, 02:26:01 PM

If I see or read the word shitcoins is that I won't spend to much time asking or giving advice to people that investing in shitcoins is profitable. Instead I will advice them to stay away from it as it is a waste of time that's why it is called shitcoins. The only thing or important thing I should know is to be able to know if it is a shitcoin or not. I don't know why you are making a post about shitcoins or what is your goal with this.

Well said by the senior but I would like to clarify that Senior, not every altcoin is shitcoin because more likely Bitcoin lovers use the term shitcoin coin for every altcoin. Some of the really good projects are there are projects like Polkadot, ADA, Cosmos, and ICP which are really decent some others are LINK, Aptos, XML, and LTC.

The point is meme coins are actual sitcoms which are the time waste

Z390

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I can name many altcoins that started with small marketcap and are today a very big project, you can't crucify a project as shitcoins because they have low marketcap, some projects starts as a community based and they launched with zero fund been raised, so the only thing they have is the use case of the project, their growth will be slower than others that raised millions of dollars by the help of Venture capitals.

You said that another issue with shitcoins are lack of regulations, isn't that for all crypto projects in the crypto space? Tell me, how many "not shitcoins" are regulated today? None that I know of, maybe you can help, it is easier for scammers to create tokens and sell, but stupid are those buying without doing their diligent investigation first, must you buy everything you see?

If people can fully understand that they can't do well in the crypto space without learning first they won't do some stupid things that will make them lose money.

ImThour

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Quote

Another issue with shitcoins is the potential for market manipulation. As many of these coins have low market capitalizations, it is relatively easy for large investors to manipulate their prices.

Why and how does this affect anyone who is not buying or selling a shitcoin? If you are buying a low market cap coin, you are either a fool who wants to do x100 in a week or literally dumb to not realize what could be the after-effects of it. In both cases, it's just like trading any asset in this market.

Doesn't large whales move Bitcoin price also? It's not limited to shitcoins only. This happens in every asset in the world in every market. Bad analysis here from yourside.

Assface16678

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Quote from: nakamura12 on April 25, 2023, 03:38:52 PM

Quote from: yazher on April 25, 2023, 08:56:40 AM

Veterans know these shitcoins when they first see it not a hundred percent accurate but mostly they know where the coins are heading because of their experience in investment and trading. the problem is for the newbie who thinks they might just found some gold because they listened to the podcast from the influencers who are scammers and luring innocent people to the coins they invested with and when they see the price has drastically increased, they rushed to sell their coins and the newbies will take all the damage because, after that, the price will start to sink with no chance of recovering back so they will lose their capitals because the coins they thought was gold is now turning into shitcoins.

That's the problem of newbies who doesn't have someone to guide them especially those newbies who doesn't make lots of research. For me, I would only advice newbies to invest or whatever they want to do to Crypto that isn't new a d if ever they want to invest in new coins launched by a new company then they should invest in small amount of money rather than investing a the money they can afford to lose. There are shitcoins that looks promising but end up what you just said being a shitcoin.

Bro, some newbies think that the shitcoin is a quick income since the bitcoin is for long term, what they don't know is shitcoins is risky than altcoins or bitcoin. They don't want to be taught because they will think that they're s2pid so they investing without researching something about shitcoin that you investing. For me, you should research before you invest because that's your money and you work hard for it and it will be waste if you just buy it to shitcoin and that shitcoin gets dumped in a second.

nakamura12

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Quote from: yazher on April 25, 2023, 08:56:40 AM

Veterans know these shitcoins when they first see it not a hundred percent accurate but mostly they know where the coins are heading because of their experience in investment and trading. the problem is for the newbie who thinks they might just found some gold because they listened to the podcast from the influencers who are scammers and luring innocent people to the coins they invested with and when they see the price has drastically increased, they rushed to sell their coins and the newbies will take all the damage because, after that, the price will start to sink with no chance of recovering back so they will lose their capitals because the coins they thought was gold is now turning into shitcoins.

That's the problem of newbies who doesn't have someone to guide them especially those newbies who doesn't make lots of research. For me, I would only advice newbies to invest or whatever they want to do to Crypto that isn't new a d if ever they want to invest in new coins launched by a new company then they should invest in small amount of money rather than investing a the money they can afford to lose. There are shitcoins that looks promising but end up what you just said being a shitcoin.

aioc

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Quote from: Alisha-k on April 24, 2023, 02:11:59 PM

In conclusion, shitcoins are a significant issue in the cryptocurrency market. They are often created as a quick way for their creators to make a profit, and their value is driven purely by speculation. The lack of regulation in the cryptocurrency market makes it challenging to distinguish legitimate cryptocurrencies from shitcoins, and investors should be aware of the risks before investing in any cryptocurrency.

If it's without usability and has nothing to add value to the Cryptocurrency community then it's considered a shitcoins, they usually start as trending coins hyped by paid shills and bounty hunters, and they do not have original whitepaper many of them are just copy paste from real projects and their development team are not capable to sustain their project, many of these shitcoins started as a crowdfunding project.
They are good with promises and hype words, these shitcoins will keep coming in unless investors become educated on how worthless these shitcoins are.

Fiatless

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Quote from: Alisha-k on April 24, 2023, 02:11:59 PM

In conclusion, shitcoins are a significant issue in the cryptocurrency market. They are often created as a quick way for their creators to make a profit, and their value is driven purely by speculation. The lack of regulation in the cryptocurrency market makes it challenging to distinguish legitimate cryptocurrencies from shitcoins, and investors should be aware of the risks before investing in any cryptocurrency.

Thank you for the information @OP but I don't think I need a lesson on altcoins. From your conclusion, I deduced that altcoin is just risky and investors can lose their funds overnight. The best option remains to invest only in Bitcoin and damning other altcoins. They might project or promise good returns, but if you are an investor and not a trader, still to Bitcoin. Bitcoin doesn't need regulation to be reliable, the truth is tgat regulations impedes the goals of bitcoin.

Quote from: 348Judah on April 25, 2023, 04:05:24 AM

There are many measures to take in identifying a crypto project to be a shitcoin, quite alright not all cryptocurrencies are shitcoins but any unrealistic crypto project cabbbe referred to as a shitcoin, part of the means in which we cab identify them is to begin with a serious research about them, tge level of information gotten about the project determines the level of our conviction in believing them, we need to know the operators behind the project, their purpose, history, recent projects, online reviews, trust, market value, market cap, liquidity value and many other relevant things to know we have to clear our doubts on about them such as location abd feasibility of the project.

All cryptocurrencies apart from Bitcoin are shitcoins. If they are centralized and controlled by an individual or group of individuals they cannot be trusted. Regardless of the perceived uniqueness of these altcoins, if they don't promote privacy and decentralization, they are shitcoins.

yazher

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Quote from: nakamura12 on April 24, 2023, 02:26:01 PM

If I see or read the word shitcoins is that I won't spend to much time asking or giving advice to people that investing in shitcoins is profitable. Instead I will advice them to stay away from it as it is a waste of time that's why it is called shitcoins. The only thing or important thing I should know is to be able to know if it is a shitcoin or not. I don't know why you are making a post about shitcoins or what is your goal with this.

Veterans know these shitcoins when they first see it not a hundred percent accurate but mostly they know where the coins are heading because of their experience in investment and trading. the problem is for the newbie who thinks they might just found some gold because they listened to the podcast from the influencers who are scammers and luring innocent people to the coins they invested with and when they see the price has drastically increased, they rushed to sell their coins and the newbies will take all the damage because, after that, the price will start to sink with no chance of recovering back so they will lose their capitals because the coins they thought was gold is now turning into shitcoins.

aysg76

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Quote from: Alisha-k on April 24, 2023, 02:11:59 PM

Shitcoins are often characterized by their low market capitalization and lack of liquidity.

Not exactly because when the coin is initial stage the demand is low so the liquidity is also low along with the market cap but that doesn't categorise it under shitcoin.Some coins with liquidity like the meme coins which comes under temporary hype but have nothing to offer are sort of shitcoins so it has different aspects.

Quote from: Alisha-k on April 24, 2023, 02:11:59 PM

One of the most significant issues with shitcoins is the lack of regulation in the cryptocurrency market.

The whole market is not regulated and there's no Central authority monitoring the bitcoin system and this is what makes the decentralisation concept more useful and famous.There are many coins with centralised chain of authority but bitcoin serves the true decentralised system to holders.

Quote from: Alisha-k on April 24, 2023, 02:11:59 PM

While some shitcoins may have legitimate use cases, the majority of them are created solely to make a profit for their creators.

When a coins has potential and utility it cannot be termed as shitcoin and this term generally goes with altcoins that have nothing to offer and will not give returns to holders.They can give temporary profits to users but in reality they are just created out of thin air to mainly benefit the creators and whales who have major supply and can manipulate the market by creating pump dump schemes which is why it's advisable to stay away from them.

348Judah

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Quote from: Alisha-k on April 24, 2023, 02:11:59 PM

Shitcoins are often characterized by their low market capitalization and lack of liquidity. They are usually created by individuals or small groups who are looking to capitalize on the hype around cryptocurrencies and make a quick profit. These individuals often create coins that are marketed as the "next big thing" in the crypto world, but in reality, they offer little value beyond being a speculative investment.

There are many measures to take in identifying a crypto project to be a shitcoin, quite alright not all cryptocurrencies are shitcoins but any unrealistic crypto project cabbbe referred to as a shitcoin, part of the means in which we cab identify them is to begin with a serious research about them, tge level of information gotten about the project determines the level of our conviction in believing them, we need to know the operators behind the project, their purpose, history, recent projects, online reviews, trust, market value, market cap, liquidity value and many other relevant things to know we have to clear our doubts on about them such as location abd feasibility of the project.

Luffygroove

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I suppose there are a number of ways to look at this problem. While not everyone will benefit from the increased volatility, shitcoins are generally accepted because they allow more individuals to ride the wave. It's possible that some people will benefit financially while others will suffer. In one sense, shitcoins make the market more exciting, but in another, they're just trashing it. This is the nature of the crypto market, where some participants may profit while others incur losses. Shitcoins are just the tools. Just like knives, it could help us to cook or slice our fingers.

mamesso

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Apart from Bitcoin, all other coins are called Alternative cryptocurrencies (Altcoins) and not all Altcoins can be called shitcoins. Different views on Altcoins always collide depending on belief in Altcoins, for those who don't fully believe in Altcoins will think of them as shitcoins. However, some Altcoins have good prospects for the future such as ETH, BNB and several other high-end Altcoins that have strong fundamentals.

Shitcoins do not always look like trash, at certain times they can turn into valuable Mutia when they have the support of whales who have great influence in the field of Crypto Asset investment. You shouldn't forget the incident that happened to Dogecoin and Shiba Inu, after receiving support from the EM the two Shitcoins experienced an extraordinary increase in price. You can make huge profits in a short time from Shitcoin, but the risk is commensurate with the profit you might make. If you want a safe investment that can bring you peace of mind, Bitcoin is highly recommended.

blue Snow

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Quote from: CryptoHeadlineNews on April 24, 2023, 04:13:01 PM

I'm sorry to say this, but this article looks like an A.I generated content, of which I stand to be corrected if I'm wrong but according to "nutildah" pattern which he explained as a way to confirm if a content is A.I generated, this is what I got after verifying this content on each of these online tool, as I wasn't able to access all the site which Sir "nutildah" suggested on one of his thread on "meta". So here are the results..

Hivemoderation.com = (This input is likely to contain A.I generated text 99%)
Contentatscale.ai = (Likely both A.I and human 64%)
Gptzero.me = (Your text is likely to be written entirely by A.I)

Yes, I am really sure OP did it again on here because when I look at his previous post he did on Bitcoin discussion board - https://bitcointalksearch.org/topic/--5450031 that it possible he did on many boards.

look like OP will be banned from doing plagiarism ChatGPT.

hatshepsut93

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Shitcoin is any coin that doesn't have objective value and only has high price because of paid promotions, artificial pumps and market speculation. Dogecoin is a shitcoin, because the current and the potential level of adoption and utility cannot justify the current price. People only buy it to sell later - this is not sustainable and sooner or later the bubble will pop.

So it doesn't matter if marketcap is big or small, if a coin was created yesterday or 10 years ago - if a coin is not useful, it's a shitcoin.

drwhobox

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Quote from: CryptoHeadlineNews on April 24, 2023, 04:13:01 PM

Hivemoderation.com = (This input is likely to contain A.I generated text 99%)
Contentatscale.ai = (Likely both A.I and human 64%)
Gptzero.me = (Your text is likely to be written entirely by A.I)

I didn't try these tools to find out if the article is AI-generated or not, but the pattern used in this post looks familiar to chatGPT generated article. Also when you generate an article or something with chatGPT it always gives a conclusion for the article.

I have also found her AI-generated content on bitcoin discussion and now found this here. OP might be testing AI seriously.

CryptoHeadlineNews

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I'm sorry to say this, but this article looks like an A.I generated content, of which I stand to be corrected if I'm wrong but according to "nutildah" pattern which he explained as a way to confirm if a content is A.I generated, this is what I got after verifying this content on each of these online tool, as I wasn't able to access all the site which Sir "nutildah" suggested on one of his thread on "meta". So here are the results..

Hivemoderation.com = (This input is likely to contain A.I generated text 99%)
Contentatscale.ai = (Likely both A.I and human 64%)
Gptzero.me = (Your text is likely to be written entirely by A.I)

DeathAngel

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Many people say everything that isn’t bitcoin is a shitcoin. I understand the thought process but some altcoins are good. Ethereum for example is a great investment, it has a long history & can be classed as trustworthy.

The problem I have with lesser known altcoins & what may hint at the shitcoin branding is the fact that there is centralisation. I don’t like too much of the supply being held by a few people.

Lots of money can be made in so called shitcoins but unlike with bitcoin, I would want to get in & get out with fast profits. I wouldn’t hold anything except bitcoin & ethereum long term.

Sandra_hakeem

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Op, sorry about how this might sound but, I was thinking it'll be right for you to add a source link to this whole information.... Cus some patches were derived from somewhere else.
That being said,....This is a very smart and instructional thread,.. specially made for them investors that are not pretty much concerned about what cryptocurrency is all about, but wants to invest - Maybe for the reasons of the features like - utmost ownership and control, security, modesty and crpyto-space reliance etc... Shit coins are usually built to the interest of their owners.

Sandra 🧑‍🦰

Topic: About shit coins (Read 235 times)