How to identify shitcoins? | Bitcointalksearch.org

AnonBitCoiner

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Quote from: Kristiyana on April 26, 2024, 12:15:09 PM

Permit me to say that most of those altcoins are Wolf in sheep clothing. Most of them look so real and legit but only for someone to find out that they are fake coins and it's annoying after investing and the coin has taken a bull run and later drop to nothing and refuses to appreciate again.

Exactly such coins at the starting point show the pump that people easily get trapped into these scam projects because people are greedy so they will obviously choose that coin which grows faster but after putting money into such coins they just feel sorrow but can do nothing.

Such types of coins if one is reduced in price then they never achieved that higher worth back because the main purpose of creators has been fulfilled. Scam projects are worthless to invest and if it seems like shining stars at start then investigate about it as every shining thing does not remain useful forever.

MeGold666

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If certain project hits one of this flags (and there are more), it's a shitcoin and most probably a scamcoin:

It was premined
It has a dev-tax
It's not running on PoW
There's a company behind it
It started as ICO
No real world utility
It promises a lot but present nothing
It's not open-source
It uses experimental cryptography without proper, respected audits
If one of the devs behind has bad reputation in past cryptocurrency projects (rugpulls / etc)
It's not running it's own chain (token)

Plinteng

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my opinionBefore investing, it's always a wise move to conduct your research, as you're taking a risk with your hard-earned money. Spotting low-quality or "shitcoins" right from the start can be challenging, so it's a good idea to stick with well-known options like ETH, BNB, and others.

Kristiyana

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Permit me to say that most of those altcoins are Wolf in sheep clothing. Most of them look so real and legit but only for someone to find out that they are fake coins and it's annoying after investing and the coin has taken a bull run and later drop to nothing and refuses to appreciate again.

leonair

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Quote from: bitzizzix on March 19, 2024, 12:18:02 PM

Quote from: leonair on March 19, 2024, 11:59:01 AM

Quote from: OrangeII on March 19, 2024, 06:00:19 AM

In fact, it is very difficult to identify whether an altcoin is a shitcoin when it is still being developed. However, there are several things that are identical that these altcoins might become shitcoins in the future. The things I noticed were that there were no recent developments in the altcoin. Even the admin is silent and never goes online or communicates with the community. In addition, the quality of the product has decreased drastically, and the price of the altcoin tends to decrease over time.

Altcoins are considered as shitcoins when a coin is in the market but the trading volume and marketcap are low and its price is highly volatile then it is too risky for investment then that coin is called shitcoin. And Shitcoins are slowly dying from the market. so those who invest in Shitcoin have the possibility that their investment will become zero at some point. so it is better to invest in Coinmarketcap's top 50 coins to avoid shitcoins. Because Shitcoins can hardly come to the top position in terms of market cap.

Of course, to identify a shitcoin, looking at market capitalization is the main thing we have to pay attention to, and if the capitalization is very low, for example the capitalization is less than 100 million or lower than that. This is a shitcoin which means not much money is invested in it, and this shows that shitcoins are not a good or questionable investment.
And if over time the market capitalization continues to decline or even falls significantly, that is a bad sign and it will eventually die. And having top atlcoin is the best choice especially top and oldest altcoin.

That's why i mentioned for Top 50 coins on coinmarketcap became 50th coins marketcap is more then $2200 Million. op also can keep focus on top 100 coins from coinmarketcap became 100th number coin also have more then $800M marketcap. But that coin cannot be trusted 100% only if it has a high marketcap. Because we have seen the differences of previous FTT, LUNA, USTC. so always be careful when investing in altcoins.

bitzizzix

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Quote from: leonair on March 19, 2024, 11:59:01 AM

Quote from: OrangeII on March 19, 2024, 06:00:19 AM

In fact, it is very difficult to identify whether an altcoin is a shitcoin when it is still being developed. However, there are several things that are identical that these altcoins might become shitcoins in the future. The things I noticed were that there were no recent developments in the altcoin. Even the admin is silent and never goes online or communicates with the community. In addition, the quality of the product has decreased drastically, and the price of the altcoin tends to decrease over time.

Altcoins are considered as shitcoins when a coin is in the market but the trading volume and marketcap are low and its price is highly volatile then it is too risky for investment then that coin is called shitcoin. And Shitcoins are slowly dying from the market. so those who invest in Shitcoin have the possibility that their investment will become zero at some point. so it is better to invest in Coinmarketcap's top 50 coins to avoid shitcoins. Because Shitcoins can hardly come to the top position in terms of market cap.

Of course, to identify a shitcoin, looking at market capitalization is the main thing we have to pay attention to, and if the capitalization is very low, for example the capitalization is less than 100 million or lower than that. This is a shitcoin which means not much money is invested in it, and this shows that shitcoins are not a good or questionable investment.
And if over time the market capitalization continues to decline or even falls significantly, that is a bad sign and it will eventually die. And having top atlcoin is the best choice especially top and oldest altcoin.

leonair

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Quote from: OrangeII on March 19, 2024, 06:00:19 AM

In fact, it is very difficult to identify whether an altcoin is a shitcoin when it is still being developed. However, there are several things that are identical that these altcoins might become shitcoins in the future. The things I noticed were that there were no recent developments in the altcoin. Even the admin is silent and never goes online or communicates with the community. In addition, the quality of the product has decreased drastically, and the price of the altcoin tends to decrease over time.

Altcoins are considered as shitcoins when a coin is in the market but the trading volume and marketcap are low and its price is highly volatile then it is too risky for investment then that coin is called shitcoin. And Shitcoins are slowly dying from the market. so those who invest in Shitcoin have the possibility that their investment will become zero at some point. so it is better to invest in Coinmarketcap's top 50 coins to avoid shitcoins. Because Shitcoins can hardly come to the top position in terms of market cap.

OrangeII

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In fact, it is very difficult to identify whether an altcoin is a shitcoin when it is still being developed. However, there are several things that are identical that these altcoins might become shitcoins in the future. The things I noticed were that there were no recent developments in the altcoin. Even the admin is silent and never goes online or communicates with the community. In addition, the quality of the product has decreased drastically, and the price of the altcoin tends to decrease over time.

Tmoonz

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Quote from: harizen on August 25, 2023, 11:22:49 PM

Quote from: Tahid12 on August 25, 2023, 05:08:22 PM

As an investor, i did a lots of invest in altcoins. Those were suppose to be good that time with having good hype, good team and community. But with having all of thats, most of altcoins scam after a time! I wonder for some altcoins, they were suppose not to be go but they scammed without any reason! And hundreds of altcoins are in my wallet, which are turn into dead shitcoin now.

As an already experienced investor, you should know the risks.

Maybe some of your hold altcoins performed well during their hype or actively developed during that time. But as time progressed, and we know that the crypto-market experienced several hits, most projects were unable to keep up and decided to stop the development and ended up abandoning the project.

We can't really determine if these projects will continue and keep up with their development once they are announced to the community. Rather than risk your money in these new projects, as it turned out it didn't go well, maybe try to focus on investing in coins that have been in the market for a long and already established a good community.

Not saying you should stop investing at new projects but at least, you will minimize being scammed if you test the waters at already established coins.

Yes I agree with you investing in already established coins as a newbie in the crypto space could be a wise decision as it gives you that opportunity of learning about other new coins while already in the market however the honest truth is that the market is filled with uncertainty which every individual should have in mind Incase things goes the bad way.

tengui

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Shit coin occurs because it is a scam and fails. The two are different, a scam means the team deliberately commits a crime and failure can happen because something undesirable happens and it happens outside the team's control. Indeed many new projects become dead projects or shit coins because competition in the crypto market is very tight, but if you are just a bounty and airdrop hunter, you don't need to worry too much about this.

Jonyshake71

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Don't know any technic or strategy yet for find out shitcoin. Analysis, research are important but with such thing, no guarantee that a token won't turn into shitcoin tomorrow. Its tough and hard to find out. Thats why it is better idea to pick your altcoins from those which coins are already available in market. Even you may choice a altcoin with 1000th rank on cmc if you think that coin has potentiality for future. Thus such process is work. Although a good altcoin also trun into shitcoin if its efficiency start descreasing everyday

Oxbro

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as an investor, I went all in on them altcoins, thinking they were the real deal – hype was lit, teams were solid, and the community vibe was on point. But damn, turns out most of those altcoins pulled a scam move on me after a while! I'm scratching my head 'cause some of these coins were supposed to be the next big thing, but they dipped for no good reason. Now, my wallet's loaded with hundreds of dead shitcoins. It's a wild crypto ride, man
research is not enough.

Promocodeudo

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Shitcoin does not have durability and most of them are created for short-term purposes, altcoins are identifiable to me because Bitcoin has it own logo so no matter how developers hide to give the wrong impression once you are conversant with crypto settings, you must know the tricks, there are many coin curated today by so called developers speculating to investors that such coin has a potential of dominance over other coin, once you here this, just know that it is the so call shitcoins because there market speculations are too encouraging to the extent that if you don't take time you will fall victim.

GlacierBIT

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Unfortunately, it is not possible to immediately recognize what an altcoin is, scammers try very hard to disguise their project, attracting second-rate advertising on social networks. Pay attention to what the developers promise, their ideas may be too inflated and exaggerated and do not correspond to their potential results. Shitcoins are dangerous, you should always control their activity in the cryptocurrency market.

BRINIRHA

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Its characteristics can be seen from its small market cap and low trading volume. And usually only listed on Dex and on some of the lowest ranking Cexes. Usually they do not take projects seriously. Or just made to be pumped and thrown away. That's why many shitcoins are just created to be listed on some dex and while waiting to be listed on CMC and the price goes up and then after that experience a continuous decline until they have no value or their value is very low. They are indeed like altcoins that failed to attract investor interest. and actually many shitcoins appear every day.

cute nmp

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Don't think there is any ultimate project to identify shit project in crypto. Some times the one you think are Genuine ends up to be a loss where the one are seems like scam turns out to be a success .So its very hard to identify good and bad ones at times just make sure research before making any crypto-investment to minimize risk that's just it .

Romeotom

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Quote from: Sophokles on January 16, 2024, 01:54:40 PM

Quote from: Romeotom on January 16, 2024, 01:33:17 PM

Suppose if a project team gone to inactive then you can understand this is pure shitcoin or death coin. A shitcoin value decreasing everyday because There loss investors community. There social media sector gone to inactive even no any development. There project volume gone to zero then you can understand this is shitcoins.

By the time a project team goes away it will be too late for the community to get out of that project because by that time that team has already dumped their bags in the market to extract all the liquidity. You need to find a shitproject before launching it in the open market. There is a simple way to do that, and that is a shitproject that will try to attract investors by offering them high yields for their investment. You will see that those projects will give such a high yield that there won't be any projects in the market that can compete with them. So greedy people fall for them and lose their investment.

It's really true that most greedy people buy the shit project feeling the pump of getting rich suddenly. But these are really fraud traps because they pump shit tokens for a very short period of time so that investors buy their tokens greedily. Instantly frustrating so research well before making every small big investment to avoid losing mone.

arjunmujay

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Quote from: Y3shot on January 20, 2024, 03:11:32 AM

Quote from: bots1 on January 19, 2024, 08:52:45 AM

Not all altcoins can be said to be shitcoins because no cryptocurrency is perfect and each has its own strengths and weaknesses, but there are several steps to identify shitcoins. One of them is that if an altcoin has a low market capitalization then the altcoin can be said to be a shitcoin, thus such an altcoin does not have a lot of money invested in it and this shows that the altcoin is included in the shitcoin category and this is not a good investment step to take. A good altcoin certainly has many investors and a lot of interest long before its launch resulting in a modest market capitalization when the altcoin is first listed on an exchange.

Their are few altcoins that are reliable in the market to invest and their are lot of shitcoins in the market which people needs to be careful and get better knowledge before they invest in it. If you want to know if an altcoin is a good coin to invest in , you will get to know more about the coin with the white paper and roadmap, and the coin is in well known and big exchange. This features can be use to check if a coin shitcoins or not.

right as @Y3shot said, there are many ways to identify altcoins that can be said to be shitcoins. one of them is by seeing if the coin is already on a credible crypto exchange. because an exchange will definitely sort out what altcoins they will list first.
It is also necessary to see the community of the coin, if the community is not much, it is certain that the market capitalization is bad and over time it will be abandoned by the community and become a junk coin.

Y3shot

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Quote from: bots1 on January 19, 2024, 08:52:45 AM

Not all altcoins can be said to be shitcoins because no cryptocurrency is perfect and each has its own strengths and weaknesses, but there are several steps to identify shitcoins. One of them is that if an altcoin has a low market capitalization then the altcoin can be said to be a shitcoin, thus such an altcoin does not have a lot of money invested in it and this shows that the altcoin is included in the shitcoin category and this is not a good investment step to take. A good altcoin certainly has many investors and a lot of interest long before its launch resulting in a modest market capitalization when the altcoin is first listed on an exchange.

Their are few altcoins that are reliable in the market to invest and their are lot of shitcoins in the market which people needs to be careful and get better knowledge before they invest in it. If you want to know if an altcoin is a good coin to invest in , you will get to know more about the coin with the white paper and roadmap, and the coin is in well known and big exchange. This features can be use to check if a coin shitcoins or not.

NNRR

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Alt coin is a very risky medium for your investment if you have invested in any alt coin then you have to take that risk because alt coin often scams for various reasons so before investing in any alt coin their website
See their future plans, see what they are working on, how active their team is, whether they are listed on any exchange, and you can invest in them.

Topic: How to identify shitcoins? (Read 1907 times)