Topic: Can an expert tell me how to identify a shitcoin (example: Insight Chain) - page 2. (Read 572 times)
November 06, 2019, 06:44:04 PM
Well, there is the easiest and most effective way to save ourselves from the threat of shitcoin by monitoring subforum scam accusation. I am very grateful to most of the members of this forum who have dedicated their time to analyzing and warning us. Because I really lack experience in assessing the project as a whole.
November 06, 2019, 01:05:54 PM
I am not an expert, but you can see such things on team behaviour and their roadmap. If everything is getting postponed and team members are not delivering their promises, you can be sure that such project will never be successful.
November 06, 2019, 01:01:16 PM
@OP
Lol, is there any expert that can really claim that they have the perfect solution to really knowing how to identify a fake project? It is quite very difficult top actually know a shit projects now, at the early stage of these shit coins when they still have very well system too, we could use their whitepaper and team to discern some, but whitepaper is so difficult to be able to discern these projects now, they even do hire Blockchain developers now to help them write the whitepaper, and the team even look genuine when you see them.
It is because it has become difficult that made me to result into allowing them to have stayed long in an exchange first before thinking of looking at their project for any investment in them, so indirectly, I dint do new projects again.
Lol, is there any expert that can really claim that they have the perfect solution to really knowing how to identify a fake project? It is quite very difficult top actually know a shit projects now, at the early stage of these shit coins when they still have very well system too, we could use their whitepaper and team to discern some, but whitepaper is so difficult to be able to discern these projects now, they even do hire Blockchain developers now to help them write the whitepaper, and the team even look genuine when you see them.
It is because it has become difficult that made me to result into allowing them to have stayed long in an exchange first before thinking of looking at their project for any investment in them, so indirectly, I dint do new projects again.
November 03, 2019, 02:57:21 AM
Can an expert tell me how to identify a shitcoin I have some experiences about cryptocurrency but i will not call myself an expert but my suggestion might be of help.
Majorly, i avoid any project with these two features, those that promise the unbelievable and those that do not have actual product.
Majorly, i avoid any project with these two features, those that promise the unbelievable and those that do not have actual product.
November 02, 2019, 11:28:22 PM
Even not an expert or professional can smell if the project has any worth you can noticed it when the team show their way to market their project. Isn't all about marketing I know some project that doesn't focus on marketing but the product itself speak for the whole. If you know how to use github, its a hub of source code and every update and improvement is uploaded there. Even no marketing as long the project keeps improving it then its a good one. Look on Hawk Network, their team rarely seen on social groups but their project is worth like pioneered coins.
Indeed. You don't need an expert or asking for help to others for you to know if a project will be successful or worth it to participate with. I am also not an expert when it comes to crypto, but i can easily identify a shitcoin if the team members are not active and there are only few people were willing to paeticipate in their project, which they can't find any solution to advertised it to other people on how their product will benefit the investors. November 02, 2019, 09:23:04 PM
Even not an expert or professional can smell if the project has any worth you can noticed it when the team show their way to market their project. Isn't all about marketing I know some project that doesn't focus on marketing but the product itself speak for the whole. If you know how to use github, its a hub of source code and every update and improvement is uploaded there. Even no marketing as long the project keeps improving it then its a good one. Look on Hawk Network, their team rarely seen on social groups but their project is worth like pioneered coins.
Agree there are lots of coins that have good products but don't have a big marketing budget. Marketing is not an indicator of a good coin because ultimately investors are waiting for products that will be able to provide benefits for the company.
November 02, 2019, 08:40:15 PM
Even not an expert or professional can smell if the project has any worth you can noticed it when the team show their way to market their project. Isn't all about marketing I know some project that doesn't focus on marketing but the product itself speak for the whole. If you know how to use github, its a hub of source code and every update and improvement is uploaded there. Even no marketing as long the project keeps improving it then its a good one. Look on Hawk Network, their team rarely seen on social groups but their project is worth like pioneered coins.
November 02, 2019, 08:24:13 PM
Hi there,
rather new to crypto. Currently looking at Insight Chain (http://www.insightchain.io/ & https://coinmarketcap.com/currencies/insight-chain/).
Now this smells like a shitcoin (pump and dump), but (as a noob) I can't really put my finger on why this is the case. There's a website, whitepaper, twitter account, etc. But all what they are saying doesn't make much sense, though not being a blockchain expert, I might simply not understand what they are saying.
To some more experienced cryptofans out there: How would you go about deciding whether an altcoin is a shitcoin (ideally using the example of Insight Chain)?
Thanks!
There are many definitions of shitcoin, but I am more interested in calling it a dead coin. Coins that do not have a clear project and are also not active communication from the developer team so investors are always in doubt whether the project will be in accordance with the roadmap. In addition, a coin can be said to be a dead coin if the transaction volume on the exchanger is very small or there are no transactions at all
November 02, 2019, 07:51:19 PM
I don't think I need an expert to know where is shitcoin.
For me, it's clear that shitcoin doesn't have any real function. And plus it's definitely pump and dump coins. Prices tend to fall continuously. Developers who are slowly no news. Developers who suddenly sell their own coins with fun. There are so many indications if we look at the present reality. Some people are happy to play in shitcoin. According to my mind for seeing them, it is easy to get profits quickly. But when they lost, they would say harsh words.
For me, it's clear that shitcoin doesn't have any real function. And plus it's definitely pump and dump coins. Prices tend to fall continuously. Developers who are slowly no news. Developers who suddenly sell their own coins with fun. There are so many indications if we look at the present reality. Some people are happy to play in shitcoin. According to my mind for seeing them, it is easy to get profits quickly. But when they lost, they would say harsh words.
November 02, 2019, 07:22:16 PM
the first is by comparison, if we observe the market, we can see almost the same price movement. for example bitcoin, etherum or other coins have increased, then the small coins underneath usually also move green, if not then the coin is very bad and not worth buying (maybe only 10%). then specifically for coins or new tokens that are just launched into the market, often see the official group chat activity of the team, if there is quiet and no news at all, we can be sure the project is dead and has no future.
then you can also see prices or exchange rates that are very low or very low. the position of tokens or coins like that is also very difficult to be sure to last a long time in the market. the long term impact is that coins don't have value anymore, and worst of all, coins will be removed from the market exchange.
then you can also see prices or exchange rates that are very low or very low. the position of tokens or coins like that is also very difficult to be sure to last a long time in the market. the long term impact is that coins don't have value anymore, and worst of all, coins will be removed from the market exchange.
November 02, 2019, 07:09:37 PM
Does this coin/token have a USE case?
Quote
Op, look at the coins in the top 50 or so on coinmarketcap. Anything below that could probably be considered a shit coin. Any coin with a value in the low satoshis (except perhaps for dogecoin) is a shit coin.
Going by your criteria to determine a Shit coin. Let me tell you about a token that is ranked 969 on CMC. They have an actual product which is known as Atomic wallet. They never had an ICO as they have been in profit from day one.Presently it is being traded only on Idex and Binance dex. Check it out on CMC - https://coinmarketcap.com/currencies/atomic-wallet-coin/
How can you call this coin a Shit coin?
November 02, 2019, 05:31:40 PM
shitcoin is a coins without active development and has no voume in exchange
the team didn't do anything, because shitcoin created just to cheat the investors
thats my opinion about a shitcoin my friend
regards
the team didn't do anything, because shitcoin created just to cheat the investors
thats my opinion about a shitcoin my friend
regards
November 02, 2019, 04:52:15 PM
Hi there,
rather new to crypto. Currently looking at Insight Chain (http://www.insightchain.io/ & https://coinmarketcap.com/currencies/insight-chain/).
Now this smells like a shitcoin (pump and dump), but (as a noob) I can't really put my finger on why this is the case. There's a website, whitepaper, twitter account, etc. But all what they are saying doesn't make much sense, though not being a blockchain expert, I might simply not understand what they are saying.
To some more experienced cryptofans out there: How would you go about deciding whether an altcoin is a shitcoin (ideally using the example of Insight Chain)?
Thanks!
November 02, 2019, 04:28:13 PM
Hi there,
rather new to crypto. Currently looking at Insight Chain (http://www.insightchain.io/ & https://coinmarketcap.com/currencies/insight-chain/).
Now this smells like a shitcoin (pump and dump), but (as a noob) I can't really put my finger on why this is the case. There's a website, whitepaper, twitter account, etc. But all what they are saying doesn't make much sense, though not being a blockchain expert, I might simply not understand what they are saying.
To some more experienced cryptofans out there: How would you go about deciding whether an altcoin is a shitcoin (ideally using the example of Insight Chain)?
Thanks!
November 02, 2019, 12:39:10 PM
Sometimes you can trust your instinct. If you can feel that there's something that you can't take within that coin then don't ever continue and remove it already on your interest.
Most of these coins does all have the needs that you have mentioned. Having an actual whitepaper but the question is that for real? they did made that and didn't copied somewhere? they have a website but it could be just their props to make their project looks good.
At the end of it, you still have to research for that coin and everything about it like the team's legitimacy.
Most of these coins does all have the needs that you have mentioned. Having an actual whitepaper but the question is that for real? they did made that and didn't copied somewhere? they have a website but it could be just their props to make their project looks good.
At the end of it, you still have to research for that coin and everything about it like the team's legitimacy.
November 02, 2019, 12:36:06 PM
I am not an expert in the cryptoqurrency industry, but I know very little about identifying Shiltcoin, such as looking at their trading volume, how many investors are involved, how active the team & developers are in managing their projects, including social media influences, etc. If the coins that you mean are in accordance with the information above are the criteria for bad coins or shitcoin.
November 02, 2019, 12:28:33 PM
Mostly a shitcoin can difine base on the daily trading volume. If you see that the coin/ tokens has no volume this is only means there is no adoption and community support for the project .
You should also check the monthly chart so you will not be victimized with pump and dump coin. Its easy to identify pump and dump coin if you look at the trade history not for the day but a month or week before the pump start.
You should also check the monthly chart so you will not be victimized with pump and dump coin. Its easy to identify pump and dump coin if you look at the trade history not for the day but a month or week before the pump start.
November 02, 2019, 12:06:26 PM
Please, always use your brain when you are going to invest into such project.
Think about the use case, think about the team, if the team is skilled enough to achieve goals, think if they can overbeat competitors, think about it as an investment - will people buy your coins/tokens in the future and why?
Think about the use case, think about the team, if the team is skilled enough to achieve goals, think if they can overbeat competitors, think about it as an investment - will people buy your coins/tokens in the future and why?
November 02, 2019, 12:06:00 PM
Shitcoin could be any coin that doesn't offer anything to crypto sphere. The people behind just put it to make money out of gullible crypto investors. And after the tokens has been listed on exchange, you will never heard from the devs before and chances are, the people behind have move to their next project to scam more people.
Just look at how much coin has been delisted, and you will find what shitcoins is all about.
Just look at how much coin has been delisted, and you will find what shitcoins is all about.
November 02, 2019, 11:55:05 AM
Hi there,
rather new to crypto. Currently looking at Insight Chain (http://www.insightchain.io/ & https://coinmarketcap.com/currencies/insight-chain/).
Now this smells like a shitcoin (pump and dump), but (as a noob) I can't really put my finger on why this is the case. There's a website, whitepaper, twitter account, etc. But all what they are saying doesn't make much sense, though not being a blockchain expert, I might simply not understand what they are saying.
To some more experienced cryptofans out there: How would you go about deciding whether an altcoin is a shitcoin (ideally using the example of Insight Chain)?
Thanks!
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