Determining A ShitCoin - page 3. | Bitcointalksearch.org

Quidat

hero member

Activity: 2548

Merit: 533

Quote from: muncuss on November 03, 2018, 06:37:04 PM

"All altcoins is shitcoin because cloning bitcoin", said bitcoin hardcore fanatics, and more funny, "x coin is shitcoin because people say so" Cheesy

Many people call shitcoin just because they hate it, even if they can see in front of their eyes that coin already have real huge development

They might want to rethink of what they have just said because there are existing altcoins that is quite useful than the other and they can't just say it's a shitcoin because they haven't use it, probably and most of them i guess?

Ethereum for example is in the top 2 next to bitcoin is quite useful in almost ICO that wanted to create a project. No matter how the price range change it will be on the second spot.

Saint1990

member

Activity: 196

Merit: 11

Scruinity of the team is very important and u request all not to invest in projects which have anonymous developers as if the project turned out to be scam you will not be in a position to take legal action. Liquidity on exchange also plays an important role, if the projects which low liquidity on the exchange and developers are not acting to recover the position of the project in the market than this kind of projects are also scam and shitcoin.

samycoin

full member

Activity: 812

Merit: 100

There's so many ways to determine if the project is not good or the coin is shitcoin. First if the their white paper that they present is not unique and some details of their team is suspicious. That's why new to research about the team and the project before we participate to them.

ovcijisir

sr. member

Activity: 1491

Merit: 320

🐪 https://freebitco.in/?r=38535612

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.

masternode

sr. member

Activity: 443

Merit: 250

For me it‘s a shitcoin if there is no real develoment, no history in achieving milestones that were outlined in the original whitepaper, and unfortunately that accounts for the large majority of altcoins. Then you have copycat projects, that do not come forward with a unique idea but that took the concept from another project. These I would not call shitcoins, but I would still stay away from them as in my experience most are just money grabs too. I am sure there are many other factors, but for me these count the most and serve as a simple compass.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

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 those factors the most important aspect is to see if the coin is innovative at all, the scammers have no intention of creating anything new so even if they somehow are able to pass all your tests if the project does not bring something original to the market or it is done in a better way then you know the people behind that project are scammers or just want to make money.

liuqi

sr. member

Activity: 1092

Merit: 257

LuckyB.it is Back!

Quote from: Dragonrage201 on November 03, 2018, 08:33:12 PM

Check the ICO ratings on multiple web sites as a starting filter. After that, check team, advisors and investors quality, social media following and project fundamentals. Low marks on most of these metrics should indicate another shitcoin.

Most of the ICO rating sites are run by money so if you give more money they will allocate good result. Other ideas are little bit useful in some projects bit real experts are analyse the softcap and hard cap then they will check the security of the project. The are all common analytics and finally we should check it was reached in softcap.

Boysisig207608

member

Activity: 230

Merit: 10

Yes this is a very time consuming and difficult task to determine shitcoins from legit and valuable coins because many ICOs are now being created almost everyday promising their ICOs token or coin will be the next bitcoin but the real truth is that it is just being created to rob their investors money.

ukloon

sr. member

Activity: 798

Merit: 281

Communication is very important when keeping investors happy, some ICOs finish and then lose contact. This is a sign that the project is a shitcoin, they just wanted some easy money and delivery will be stretched out for as long as possible until they eventually give up.

Dragonrage201

full member

Activity: 630

Merit: 110

Check the ICO ratings on multiple web sites as a starting filter. After that, check team, advisors and investors quality, social media following and project fundamentals. Low marks on most of these metrics should indicate another shitcoin.

SlimShadyMmp

full member

Activity: 1470

Merit: 103

COMBO 2.0

Mostly I think is inconsistent wp and no or just terrible team members The thing is you have to know where the project is heading to determine how effective its going to be

muncuss

full member

Activity: 633

Merit: 101

"All altcoins is shitcoin because cloning bitcoin", said bitcoin hardcore fanatics, and more funny, "x coin is shitcoin because people say so" Cheesy

Many people call shitcoin just because they hate it, even if they can see in front of their eyes that coin already have real huge development

EastSound

sr. member

Activity: 1377

Merit: 268

for me before investing on an ICO i always check if the team handling it has a good history and experience on handling successful ICO, i always see to it that their whitepaper is good and feasible.

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 it and I don't know if in the long run this will survive.

rickadone

legendary

Activity: 1176

Merit: 1024

Quote from: Smokey23 on October 31, 2018, 08:26:22 AM

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!

Very funny and honestly if we really want to look at it in a way that most altcoins are actually just there for nothing and most of them are just clones of bitcoin trying to prove nothing or promising a better currency than bitcoin or just some tokens that really does not even have any real life usage or possibility of any development or product that will bring in demand for it, on a large scale, we can just simply classify most altcoins as shit coins, with just some very few exceptions that are even still questionable.

Tom Lee once said something, make sure you are holding at least 1btc, and afterwards, you can decide to buy any shit coin you want to buy. That is one crazy message.

Gershonxer

jr. member

Activity: 237

Merit: 4

1. Projects that promises very high returns on investment is a shitcoin. Eg. Our long lost bro BITCONNECT. May you rest in peace.
2. Projects that tend to postpone their roadmap, canceling events are shitcoins
3. Team owning a majority of the tokens which can be dumped on investors.
4. Zero % token use case. Sometimes I wonder why some projects need a token?
5. Poor white paper with too much typo errors, no vivid explanation of project and fake background of team members

inanilujimi

sr. member

Activity: 1862

Merit: 259

in my opinion shitcoin is a coin that is not attractive to investors and there is no real development of the coin.
What's more, Shitcoin will be very difficult to enter into a good exchange and only registered in small exchanges.

cryptonx

sr. member

Activity: 1176

Merit: 252

Futurov

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?

don't forget to read their roadmap
its important to see the progress from the coin,,
if the team seriously develop the project, i believe thats is a big sign if the project is not a shitcooin project my friend

Kolder

hero member

Activity: 896

Merit: 500

Quote from: Lanatsa on November 01, 2018, 06:58:57 PM

All of these factors that they were talking are the important and basics such as the team, WP, essence of their tokens, could it be useful in the long run etc... you should read all of these OP and list everything so you will have a lot of information and preferences in the future. Most of these who doesn't fit in the category are always a shitcoin.

For easy checking too is if there is a product. Most of the time there are coins that are too good in hype and forgets the product development.

Lanatsa

hero member

Activity: 2786

Merit: 646

All of these factors that they were talking are the important and basics such as the team, WP, essence of their tokens, could it be useful in the long run etc... you should read all of these OP and list everything so you will have a lot of information and preferences in the future. Most of these who doesn't fit in the category are always a shitcoin.

Topic: Determining A ShitCoin - page 3. (Read 781 times)