Topic: Determining A ShitCoin - page 2. (Read 781 times)
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.
now its harder determine $shitcoin, cause i saw a lot of projects with the team, good website, a lot of activity and other stuff, but for regular user without good research its almost impossible to do it, cause if year ago i was 80% certain that project seems legit, now its about 5% only, cause we saw a lot of scams and projects that became dead and $shitcoins
yep,, need a good experience to determining a shitcoins,,
mostly people watch their team,, a shitcoins will show a fake team member
and when the shitcoins listed on exchange,, their team was not active to develop their project,,
so, everyone should beware at this moment
yeap, but all this things should be regulated by some pro, similar users like us on the forum or somewhere else almost in 99% of cases never find out for sure is it scam or not, but for now icos number is raising, but funds that they collect on ico is fall in 10-20 times, so no one shows ethereum addresses with the proof of deposits, just some number on the site
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?
now its harder determine $shitcoin, cause i saw a lot of projects with the team, good website, a lot of activity and other stuff, but for regular user without good research its almost impossible to do it, cause if year ago i was 80% certain that project seems legit, now its about 5% only, cause we saw a lot of scams and projects that became dead and $shitcoins
yep,, need a good experience to determining a shitcoins,,
mostly people watch their team,, a shitcoins will show a fake team member
and when the shitcoins listed on exchange,, their team was not active to develop their project,,
so, everyone should beware at this moment
now its harder determine $shitcoin, cause i saw a lot of projects with the team, good website, a lot of activity and other stuff, but for regular user without good research its almost impossible to do it, cause if year ago i was 80% certain that project seems legit, now its about 5% only, cause we saw a lot of scams and projects that became dead and $shitcoins
If it have product and have active team as well future development then it might be worth having, those ICO that seems to be a duplicate project of others are not to be taken seriously.
now its harder determine $shitcoin, cause i saw a lot of projects with the team, good website, a lot of activity and other stuff, but for regular user without good research its almost impossible to do it, cause if year ago i was 80% certain that project seems legit, now its about 5% only, cause we saw a lot of scams and projects that became dead and $shitcoins
Can also search for team if there are photos take from someone else, but not all coins show team
Sh*tcoin is almost 90% of all the upcoming and 2018 ICO's to my mind.
The origins of this garbage can be:
It is difficult to determine what a crap coin is. It can be traded and even be presented in CMC but has no particular interest is incredibly volatile and unstable, with low cap therefore can highly pumped and dumped.
This is my personal determination to date and can be added.
The origins of this garbage can be:
- Scammy project that never aimed to be developed just to grab investors money and flee.
- Popularity of crypto spur some developers and enthusiasts to create their own coin (a lot of them are masternodes) with poor roadmap and sometimes even the community and even bounty campaign can be established but with no further development it remains garbage
- Struggles during project creating and ICO stages
- And more.
It is difficult to determine what a crap coin is. It can be traded and even be presented in CMC but has no particular interest is incredibly volatile and unstable, with low cap therefore can highly pumped and dumped.
This is my personal determination to date and can be added.
yes many new ico pops up, and if we are increasingly difficult to distinguish them because they do it better each time.
now a lot of ico are circulating with low gwei they are doing promotions but and it works the interest of most people, buy coins at 10 gwei prices and sell them at 40, and then die, over and over making new ico again.LOL.
now a lot of ico are circulating with low gwei they are doing promotions but and it works the interest of most people, buy coins at 10 gwei prices and sell them at 40, and then die, over and over making new ico again.LOL.
Really hard to do in my opinion when the bounty and ICO state of the coin/token are well conducted. It may even happen that when overall market conditions are good, the ShitCoin might still have some pretty nice monetary value in fiat.
I think the best way to locate shitcoins is to wait for the bear market and see how good/bad is your coin doing. If it indeed loses 80-90% of its value you know the coin was a rather bad one.
You should not use the price as the only way to tell if a coin is a scam, there have been several projects that were very good and the value of their coins dropped and almost reach a price of zero and then months later and in some cases years later the coin recovered because finally the community acknowledged the project was very good and there have been cases of coins that were clearly scams having a very high value. I think the best way to locate shitcoins is to wait for the bear market and see how good/bad is your coin doing. If it indeed loses 80-90% of its value you know the coin was a rather bad one.
Shitcoins have different classes;
There's a class of shitcoins that make it to the exchange, but the devs or so called team have no plans advancing the course of the project. There are no updates on the project and the community is stagnated. They simply fizzle out with time.
There's a worse class of shitcoins who's team after collecting millions from investors during ICO, leave you with shit tokens that amount to nothing and no value because they do not even make to the exchange. Most of the exit scams post ICO follow this pattern. They take the real coins from you and leave you with shitcoins from TGE.
'Projects' with telegram numbers that aren't organic are usually clear indicators of a scam. They lie about virtually everything just to lure people in to achieve their aim
There's a class of shitcoins that make it to the exchange, but the devs or so called team have no plans advancing the course of the project. There are no updates on the project and the community is stagnated. They simply fizzle out with time.
There's a worse class of shitcoins who's team after collecting millions from investors during ICO, leave you with shit tokens that amount to nothing and no value because they do not even make to the exchange. Most of the exit scams post ICO follow this pattern. They take the real coins from you and leave you with shitcoins from TGE.
'Projects' with telegram numbers that aren't organic are usually clear indicators of a scam. They lie about virtually everything just to lure people in to achieve their aim
In times like this 
when more than 90% of coins on cmc are shitcoins, every coin is considered shitcoin until proven otherwise! When I research coins, usually i get through 8-9 shitcoins and 1 possible good coin out of 10.
when more than 90% of coins on cmc are shitcoins, every coin is considered shitcoin until proven otherwise! When I research coins, usually i get through 8-9 shitcoins and 1 possible good coin out of 10. nowadays it is difficult to distinguish between the two, because the more days they get smarter and continue to make it perfect or more real to outwit or cheat all investors. for now I only choose old coins that have long survived and already have real products that have been useful for the community, have also been listed on various popular exchanges.
You are right. Fully agree with the ami, it is better to vintage old checked coins better than new ones, which may turn out to be just a deception 
Really hard to do in my opinion when the bounty and ICO state of the coin/token are well conducted. It may even happen that when overall market conditions are good, the ShitCoin might still have some pretty nice monetary value in fiat.
I think the best way to locate shitcoins is to wait for the bear market and see how good/bad is your coin doing. If it indeed loses 80-90% of its value you know the coin was a rather bad one.
I think the best way to locate shitcoins is to wait for the bear market and see how good/bad is your coin doing. If it indeed loses 80-90% of its value you know the coin was a rather bad one.
It is pretty hard to define shitcoin because the most projects when they start don't have anything to show.
You can assess quality of whitepaper, icobench ratings and everything but project can still turn out to be shitcoin.
The best way for me is to google team members and see if they are real or fake. The best indicators are stock images on websites and lack of photos that have all team members in it(group photos).
Also look at their Telegram channel and ask questions about the project. Do answers make sense? If they try to avoid answering your questions, or try to insult you/block you form telegram channel when you repeat your questions then you have another good indicator that you are dealing with shitcoin.
There is very good advice in this post, I have never thought about it but it is true, if a project doesn't have a picture of all its members present at the same place and at the same time then you know that most likely the pictures that are depicted in their website are taken from the Internet, and if you are moderated in their telegram channel or in this forum by just making good questions then you know the project is fake. You can assess quality of whitepaper, icobench ratings and everything but project can still turn out to be shitcoin.
The best way for me is to google team members and see if they are real or fake. The best indicators are stock images on websites and lack of photos that have all team members in it(group photos).
Also look at their Telegram channel and ask questions about the project. Do answers make sense? If they try to avoid answering your questions, or try to insult you/block you form telegram channel when you repeat your questions then you have another good indicator that you are dealing with shitcoin.
You can answer a simple question to determine a shitcoin:
Q: Is your coin Bitcoin?
A: Yes
Result: Not a shitcoin!!
A: Yes, its Bitcoin Cash.
R: SHITCOIN!
A: Yes, its Bitcoin (ABC, XYX, Private, insert your preference here).
R: SHITCOIN!
A: No.
R: SHITCOIN!
It's kind of a fanatic fan that will said other coin as a scam. But i can't understand about that if that guy was taking another coin as a scam because they are all have been using the bitcoin source code to create their own platform. Bitcoin is the best coin right now. jajajajajaQ: Is your coin Bitcoin?
A: Yes
Result: Not a shitcoin!!
A: Yes, its Bitcoin Cash.
R: SHITCOIN!
A: Yes, its Bitcoin (ABC, XYX, Private, insert your preference here).
R: SHITCOIN!
A: No.
R: SHITCOIN!
Jokes apart though, there are still some altcoins we can at least say they have some product, even though it is not set for real life usage, but not like the whole market is even set for that yet.
However, if we really want to look at the number of coins in this space with no product whatsoever, you will realize we actually have more of shit coins in the alt market than coins that should have real value. If not for hype, I will be paying a lot if I end up paying $0 for some of the altcoins, and in fact, it is even an insult to my Ether wallet if you dash me some tokens.
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 think its difficult to find out if they are shitcoins, above from what yo mentioned i think, their community such as twitter, facebook, telegram group..But the thing is even they have enough member/follower its up to them if they will turn out to be shit project
nowadays it is difficult to distinguish between the two, because the more days they get smarter and continue to make it perfect or more real to outwit or cheat all investors. for now I only choose old coins that have long survived and already have real products that have been useful for the community, have also been listed on various popular exchanges.
It is actually not that difficult, as you only need to up your game the more, as trust me, as long as a team or project is not for real, there will always be some red flag in their manner of approach to a lot of things. This is one of the reasons why product is always important, and not just product, but one that is visible, you can see how well you believe it would go when it comes to usage and the solution it provides, and that would actually give you a clue of a team that is actually ready to work.However, this does not mean you should not do proper diligence on the team to see if they have the capability for long term development, as well as the way they tend to approach a lot of things for the progress of the project. If you cannot get most of all that answered positively, then it is a shit coin.
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?
Aside of white paper and Team behind IMO Probably the progress of the project also , wherein through the graph by doing hard technical analysis to determine easily how good the project is. Because that's the common strategy now to recognize the pattern and potential of the projects.
I also read reviews about the project on various information resources. I read chat in telegram, ask questions and check how competent developers and team are. Over time, it is already intuitively possible to understand whether something worthwhile with such a project or not.
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