Topic: Determining A ShitCoin - page 5. (Read 828 times)
Shitcoins are never hard to find. Just make sure you are so keen about the product and the real life opportunities it would bring in the long run, based on demand for it. If it is not a product that look like it will be useful to you then do not invest, if there is no product at all, then it is just a typical bullshit. Product and team are usually my own main target, and every other thing comes after, most especially when it comes to going through the whitepaper and other technical details, which can be boring at times.
It is becoming increasingly difficult to understand that a project is a deception, because fraudsters have begun to develop themselves and have started to make things more realistic. The important thing in this process is our identity and not to lose our money.
A 'sh*tcoin' to me is something that has no liquidity and volume, no devs, no community, and no top exchange willing to add it on their roster for trading.
Basically somethng that's hard to sell at the market is a sh*tcoin.
Basically somethng that's hard to sell at the market is a sh*tcoin.
This thread created by Coolcryptovator got my interest and I was really amaze on how this shit coins and scam ICO run their project. If you know how to play with your computer and got editing skills, creating a convincing website with fake details is a piece of cake. Doing further research always is a must if you are planning to invest to an ICO. When determining a shit coin, their website presentation and activeness on their social media accounts to promote the project is enough for me to know if they are worthy to invest with or another trash to crypto world.
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!
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!
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?
whitepaper and team profile are the most basic thing that every project must have and it can not be considered as a vital point for us to determine whether it is scam/shit project or not. but if you find out some project that do not have both of it, you could say that they are scam or at least they are shitcoin directly(no doubt).
and the most important thing that we as an investor should ask them is their MVP aka early product,
what makes something useful or valuable is not its price but instead its usability, if they have a working product that means they have something to do with their project.
and the most important thing that we as an investor should ask them is their MVP aka early product,
what makes something useful or valuable is not its price but instead its usability, if they have a working product that means they have something to do with their project.
There are so many different ways a coin can become a shit coin that it's hard to say. Even great ideas can fail because the team don't follow through. But there are some sure fire ways to identify coins that are just so unlikely to make it, the first is considering the actual idea and if there is any real demand or use for it - I would say 95% or more of projects don't have any real substantial use or demand and that's why they'll fail. Infrastructure coins tend to always perform well as well as coins in finance, computing, data etc. Coins outside of that tend not to do very well at all.
How to detect whether an ICO will become shitcoin, among others, by looking at the community such as group telegram, whether accountinvestor is often found or only a bot account or only bounty or airdrop participants. Reasonable problem solving and cooperation with exchange at the beginning of ICO i think its legit.
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?
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.
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?
Jump to: