Determining A ShitCoin | Bitcointalksearch.org

Abu Shadow

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Quote from: shinharu10282016 on November 28, 2018, 07:53:22 PM

Quote from: Abu Shadow on November 22, 2018, 09:04:57 AM

Quote from: Primus Pilus on November 01, 2018, 12:24:38 PM

I decided to read this post because I wanted to see what other people really thought about crypto projects these days.

I for one distinguish early on whether a coin is legit or 'shitcoin' these days from the initial review, But what saddens me and makes me second guess my self is how these 'shitcoins' can somehow survive, then become semi valuable on exchanges. I always see coins with no real world use earn a real value and I am sometimes scratching my head on how people think this project is going to become something in the crypto space.

because many of those projects were just relying on their fake advertisement and creating hype to enter the crypto market without developing their real product. This is obvious but people were buying on it and I don't know in the long run if they will survive.

Yeah, I agree with you. They rely on fake advertisements such as being listed in exchanges such as "M*&(DAJDLF" lol like it was Bittrex or any other greater exchanges. One thing I look at is the admin activity after the ICO. If they don't at least communicate with the community after that, it's automatically a shitcoin. Nobody buys a worthless crypto with no real team updates.

Yes, speaking of fake advertisement... recently many token had been announced that they will be listed in a new exchanges and the exchange confirmed that they will accept for trading those token. This is a strategy to make hype on their shitcoin and then they will delay the listing until it will announce that it will be pause due to some technical problems or market situation. This is connivance between those developer and the exchanges to make money and we should be careful with our decision in choosing a right coins.

shinharu10282016

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Quote from: Abu Shadow on November 22, 2018, 09:04:57 AM

Quote from: Primus Pilus on November 01, 2018, 12:24:38 PM

I decided to read this post because I wanted to see what other people really thought about crypto projects these days.

I for one distinguish early on whether a coin is legit or 'shitcoin' these days from the initial review, But what saddens me and makes me second guess my self is how these 'shitcoins' can somehow survive, then become semi valuable on exchanges. I always see coins with no real world use earn a real value and I am sometimes scratching my head on how people think this project is going to become something in the crypto space.

because many of those projects were just relying on their fake advertisement and creating hype to enter the crypto market without developing their real product. This is obvious but people were buying on it and I don't know in the long run if they will survive.

Yeah, I agree with you. They rely on fake advertisements such as being listed in exchanges such as "M*&(DAJDLF" lol like it was Bittrex or any other greater exchanges. One thing I look at is the admin activity after the ICO. If they don't at least communicate with the community after that, it's automatically a shitcoin. Nobody buys a worthless crypto with no real team updates.

deadthings

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It is a project that was created only to speculate its price. He does not solve any problem and nobody needs it. Developers are only aiming to earn money on it and abandon it. This is in my opinion shitcoin.

acheampong64

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As for me, I think currently since many projects are not getting enough funds for their projects, people now wait and see how the coin will perform after coming into the market. Reading community chats and website as well as the type of news surrounding the project can help a lot in determining what a shitcoin could be.

Abu Shadow

member

Activity: 238

Merit: 10

Quote from: Primus Pilus on November 01, 2018, 12:24:38 PM

I decided to read this post because I wanted to see what other people really thought about crypto projects these days.

I for one distinguish early on whether a coin is legit or 'shitcoin' these days from the initial review, But what saddens me and makes me second guess my self is how these 'shitcoins' can somehow survive, then become semi valuable on exchanges. I always see coins with no real world use earn a real value and I am sometimes scratching my head on how people think this project is going to become something in the crypto space.

because many of those projects were just relying on their fake advertisement and creating hype to enter the crypto market without developing their real product. This is obvious but people were buying on it and I don't know in the long run if they will survive.

suprex333

full member

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It is difficult to detect shitcoin, this is a lot of people who are fooled and deceived by the form of a campaign, but can still be careful and research to avoid the shitcoin.

pro100j

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yeap, it could be that thing that people could jsut dont like some coin, and love its analog and they will call it $hitcoin just cause they competitors. but by me on cmc easy to see $hitcoins, cause it is all that have market cap less than a 500k if this coin already have more than half year "life"

ringgo96

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#SWGT PRE-SALE IS LIVE

Quote from: onirecon2018 on November 13, 2018, 12:59:04 AM

I usually monitor the volume of coin on the exchange, if a coin has a volume that is too low for under $ 1,000 a day for a long time, then I really doubt it's a shitcoin.

now more and more shit tokens and of course it's a loss because we know that nowadays more and more projects are deceiving many people. they run away after getting their money

jaja colleen

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For me I can call a token a shitcoin if it is listed for a long time into the Exchanges but the price has no improvement,as I observe almost of the tokens become a shitcoins even the TokenSale is not finish but they list their tokens into the Exchanges directly and the team is always making promises but they didn't make any improvements of their projects.

onirecon2018

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I usually monitor the volume of coin on the exchange, if a coin has a volume that is too low for under $ 1,000 a day for a long time, then I really doubt it's a shitcoin.

tapaibuccok

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Quote from: CryptoBry on October 31, 2018, 02:03:25 AM

We already know that in the world of cryptocurrency we have valuable projects and platforms and at the same time as if existing in the parallel but intertwined universe are the shitcoins and there are many of them in the market today and more can be coming up soon. A shitcoin refers to a worthless project using cryptocurrency platform that is put up just for the sake of making money and nothing more. Of course, there are many types and forms of a shitcoin...and sometime determining one can be difficult that's why many innocent investors get victimized and can be victimized with their hard-earned money.

Aside from the usual reading of the WhitePaper and the scrutiny of the team behind if they are real or not...what other things do you use to see if one project has the potential to just be another shitcoin?

besides wp, usually I also see the seriousness of the team in the road map and their activity in the forum or telegram, I can't trust people who often disappear

Fulmand

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Quote from: jacafbiz on November 12, 2018, 01:06:10 AM

You do not give a definition for Shitcoins, to me they fall into different category because there are some that mere reading through their website you can understand that the project is going no where and are just here to raise money, there is another that have good idea but no real team behind it to make the idea a reality while another is a good project and relatively good team but have nothing to lose, sell their tokens and leave the project to die.

We can't really conclude those low valued coins will surely be at the shitcoin lists. As long as we see that their trading became no moving and the activity with trading was not doing good, maybe that's a candidate for shit ones. But if a new launched coins will have good project roadmap and the development was actively taking more updates, it couldn't be included to shitcoins lists and yet will grow at profitable price.

dobladi

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Quote from: CryptoBry on October 31, 2018, 02:03:25 AM

We already know that in the world of cryptocurrency we have valuable projects and platforms and at the same time as if existing in the parallel but intertwined universe are the shitcoins and there are many of them in the market today and more can be coming up soon. A shitcoin refers to a worthless project using cryptocurrency platform that is put up just for the sake of making money and nothing more. Of course, there are many types and forms of a shitcoin...and sometime determining one can be difficult that's why many innocent investors get victimized and can be victimized with their hard-earned money.

Aside from the usual reading of the WhitePaper and the scrutiny of the team behind if they are real or not...what other things do you use to see if one project has the potential to just be another shitcoin?

I do look on the popularity of the project to determine which coin would be profitable once relwased on different exchangers. If a coin is not that popular during its crowdsale period there is a huge probability in my opinion that it would have a lower market value than its ICO price resulting to profit loss. But since the market at this moment is on continuous downfall, majority of coins are considered as deadcoin upon the listing in the market.

yugyug

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It should be ShitToken instead of calling it a ShitCoin, Many projects are Ethereum's ERC-20 based token and creating an ERC-20 token are easy job to c by developers. Whitepapers are easy to edit and easy to copy that's why there are lot offering this kind of service roaming around this forum. A project with no working products and poor community support are one of the indicators that it is a ShitToken/ShitCoin. Having a large member of telegram community does not guarantee that the project is good and if the token/coin are not listed on exchange before the project ends then there might be a possible that the project will end like shit. See to it that the team members are legit and have a good exposures to media and marketing.

Stavri

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if team is anonymous, if they are escaping from giving clear answers, if they answer questions but hiding something, you can eassily understand that they are not honest and their project is a potential crap.

adaseb

legendary

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Basically its all relative and it matters who you ask.

The Ethereum people think BTC is a shitcoin.
The BTC people think Ethereum is a shitcoin.
The ETC people think ETH is a shitcoin.
The BCH people think BTC is a shitcoin.

And so on and so forth.

So its all depends on who you are talking to and most likely what they are invested in. Most people only support the coins that they own because its all about the profits for them.

And the fact that they don't have active developement doesn't mean much. Look how many millions was raised in ICOs last year for a simple idea, website and a whitepaper.

go4crypto

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There are plenty of ways to detect shitcoins from checking the team to their social media updates and more. The amount and time taken to raise even soft cap is a very easy indicator and if a project cannot even raise its soft cap in a month or two, then steer clear of it.

Bezobraznike

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Everything can look good on coin, but deep in side something can be so rotten that it will lead
entire project down the river. Shitcoin is when there is some flaw in the project, that flaw can be
in idea, in team, developing, lack of knowledge, or anything else connected with project.
Shitcoin can be recognized from the beginning, but it`s not necessary to be like that. Some flaws
are hidden very good. That is why we need to be careful all the time. We need to follow projects and
learn about project all the time, just investing is not enough.

labilaab

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TRADE WITH NEGATIVE FEES

Very true.I am twice fooled by this kind of shitcoins also before even doing research.I don’t know where I lacked, maybe by not doing it full time in research since doing crypto is only my sideline since I have a job. In my own opinion, maybe by investigating the legitimacy also of the team dev and members by examining their linked in account or twitter. In that way we can truly assure that they are really legit.

pinkman12345

legendary

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Team, motive, feasibility.
Look for all three..
There may be some icos who are still fake but will have these 3 qualities so better be aware of team personally via ama or live hangout sessions.

Topic: Determining A ShitCoin (Read 781 times)