Topic: How to identify shitcoins? - page 10. (Read 1841 times)
Something injected into the market without any real-time usage and no purpose behind it is a shitcoin. In simple projects that doesn't have a minimum viable product can be considered as a shitcoin. This way majority of the coins available on the market were shit coins. If some coins were hyped, be clear this is going to be a shitcoin. However these coins can be preferred as a way to test our luck, because there are few coins that have dropped value and bounced back as the development team pushed it hard running on their roadmap.
Can you name some shitcoins in your wallet? I think you are mixing up coins and tokens. Because hundreds of coins didn't turn into shitcoins. Only a couple of coins have turned into shitcoins.
But this can be the case with tokens. Because tokens are in demand only for a certain period after which most of the tokens become dead.
the words interchanged so frequently that i don't think it matters anymore but from technicality perspective then its true, a coin need to deploy the blockchain making it hard for those that wanna deploy just for the sake of deploying shitcoin since it definitely gonna take much more effort but regardless its as easy as forking some other coins out there.But this can be the case with tokens. Because tokens are in demand only for a certain period after which most of the tokens become dead.
but with erc20 based token its just as simple as clicking some button, paying the gas fee for deployment and thats it. no wonder token in general are being used for this purpose of deploying shitcoin because it requires zero knowledge in regard of technicality of how blockchain truly works therefore the shitcoin emergence that is massive.
That usually happens and normally occurs in the crypto world. It's a do or die game depending on the risk that you could take. Not all altcoins regardless of their hype or active community could survive in the long run. That's actually the risk of crypto investment, not all coins that you're buying would be profitable.
That's the reason why you have to be skeptical about buying them. You should base your decisions in the reputation and potential of a coin and not just of its popularity and hype. If you seek assurance. better choose coins with stronger foundation especially top coins that have already passed lots of tests of time. Shit coins could be everywhere so you should always do a deep research.
That's the reason why you have to be skeptical about buying them. You should base your decisions in the reputation and potential of a coin and not just of its popularity and hype. If you seek assurance. better choose coins with stronger foundation especially top coins that have already passed lots of tests of time. Shit coins could be everywhere so you should always do a deep research.
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.
You need to be very careful on how you make investments because many of these shit coins are majorly scam and the intention of the developer is to steal from invest and keep creating new coins. There are many Shit coins in the market and it is very hard to know which one is genuine and the one that is scam. We need to be extraordinary careful so that we are not going to fall Victim of investing in the wrong coin that has no good team and community. There are thousands of coins that are been launched everyday and we need to watch well before buying anyone. 
Can you name some shitcoins in your wallet? I think you are mixing up coins and tokens. Because hundreds of coins didn't turn into shitcoins. Only a couple of coins have turned into shitcoins.
But this can be the case with tokens. Because tokens are in demand only for a certain period after which most of the tokens become dead.
But this can be the case with tokens. Because tokens are in demand only for a certain period after which most of the tokens become dead.
Most shitcoins are just mimicking original roadmaps and whitepapers from other successful projects and in the accusation board, there are lots of them right there. But as we know, only a handful of newbies know that place and they don't seem to understand the first thing to look at when it comes to investing in new coins. They failed to comprehend the important thing which is to do their own research before deciding to invest.
Very unfortunate because not all have the time to read and remember roadmaps and whitepapers on successful projects. But aside from this, there is still a lot of indication that a particular project is a scam, and that is those fake people behind it. But sadly, only a good researcher could find out that those who easily get fooled by these big/popular names as the members of the project will suffer the consequences. We use our instincts as well, and it works sometimes but most of all, we do have not to hurry to invest in new projects.
I think it is quite tough to make it work that way, so we should be doing something that would be a bit of a trouble for them on the long run. It is not that tough, but if you are researching it, then you will make a profit and people who do not research well, which is a simple thing, they end up with a lot of trouble. I know that it is not going to be easy, but at the very least we could make it work one way or another that could profit people very easily.
If any altcoin is not backed up by popular celebrities or personalities or brand or company, then definitely a time will come when it will become shitcoin. This happens with many alts, and many people face huge loss due to this. If you want to be on the safe side, then it’s better to invest in coins which are there in the market for many years and whose marketcap is high. If you greed for more and try new coins, then definitely the chances of getting shitcoins will increase, and you will eventually face loss.
It is actually a common question that how to recognize shitcoin. It can be different from many people. But I think most sit coins come based on hype especially when the hype goes on, they attract users by showing more profit etc. I say there is no need to invest in all new alternative points if you have less knowledge about it. And if you want to invest, you should initially start with a very small mount so that the loss is less.
I'll give you a clue. One thing is that when you see a lot of people are pushing it hard and shilling it, that's a sign that they're pushing too much about the altcoin that they're supporting. But if you're persistent and you give them the benefit of the doubt, the next thing you'll do is to check the project itself, coming from the website, team, whitepaper, and all of those necessary stuff to know more about the project. Every single detail check them if they are proofed read or they're just like randomly have included it to their website together with the team that are working for it. While for the team, you can conduct your own research about searching their names like in LinkedIn or any website where they can be staying and see if they're for real or just grabbed names and photos.
alts are quite profitable but much more risky in terms of investment, you need to do careful research, in my experience I can say that I invested in LUNA and lost money, but in ADA and TFS still earn money. So luck is also important here, as you never know what will happen in the crypto market
If we talk about life in general, luck plays its role in almost everything that you do in your life, so trading or investments are no exception. However, cryptocurrencies or the market is not totally based on your luck because there is a lot of work that you need to do to be able to get profit out of your investments, I know that some of the investments don't work out and you may lose money but that won't happen all the time if you have knowledge and experience.Research and analysis are important for sure, especially if you are investing in altcoins that are relatively new in the market, but if your luck deceives you and you are destined to lose money, then you will lose money even if you invest in an altcoin that has been around for some time and is already doing good just like LUNA.
Very unfortunate because not all have the time to read and remember roadmaps and whitepapers on successful projects. But aside from this, there is still a lot of indication that a particular project is a scam, and that is those fake people behind it. But sadly, only a good researcher could find out that those who easily get fooled by these big/popular names as the members of the project will suffer the consequences.
We use our instincts as well, and it works sometimes but most of all, we do have not to hurry to invest in new projects.
Most shitcoins are incredibly easy to identify to the point a very small research of just a few minutes is enough to determine the developers behind those coins are up to no good, there are only a handful of coins which can pass your tests if you are serious, but even then those altcoins could still be shitcoins that are very well disguised, but at that point you will have no other option but to decide whether you want to take the risk with those coins or not without fully understanding the nature of the coin, and while your investment could go well, it could also go horribly wrong. We use our instincts as well, and it works sometimes but most of all, we do have not to hurry to invest in new projects.
Project that promises something too sweet to be available it is a scam or a scam attention. For some, since it is not bitcoin, it is a shit coin while some differentiates.
Most shitcoins are just mimicking original roadmaps and whitepapers from other successful projects and in the accusation board, there are lots of them right there. But as we know, only a handful of newbies know that place and they don't seem to understand the first thing to look at when it comes to investing in new coins. They failed to comprehend the important thing which is to do their own research before deciding to invest.
We use our instincts as well, and it works sometimes but most of all, we do have not to hurry to invest in new projects.
for me, the coins that don't keep up with bitcoin's movement are shitcoins
No its not always like that since there are coin pump when bitcoin goes down and coins dump when bitcoin goes up since it will depends on how the creator of those tokens join the hype. If they are just there created that coin for scamming expect that it will dump no matter what the current movement of bitcoin happen.
Just look at this signs if you want to spot shitcoins.
To good to be true pumps claim
Fake community
No clear roadmap or they don't follow what is actual written on their whitepaper.
Generic names idea or anything just for hype.
This are few indicators you can check.
for me, the coins that don't keep up with bitcoin's movement are shitcoins
Project that promises something too sweet to be available it is a scam or a scam attention. For some, since it is not bitcoin, it is a shit coin while some differentiates.
Most shitcoins are just mimicking original roadmaps and whitepapers from other successful projects and in the accusation board, there are lots of them right there. But as we know, only a handful of newbies know that place and they don't seem to understand the first thing to look at when it comes to investing in new coins. They failed to comprehend the important thing which is to do their own research before deciding to invest.
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.
That's how identify shitcoins. 
This is the most efficient way, but I'm afraid once the identification process is completed, it will be too late. The best solution, for conservative crypto investors avoiding shitcoins, is not to engage with new projects, but only with the old and proven projects. Although among them there are plenty of shitcoins, masquerading as normal coins.
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.
Here's a list of potential shitcoin metrics.
- Listing exclusively on decentralized exchanges such as pancake;
- Selling tokens through the site;
- No funding rounds;
- Lack of foundations as main investors;
- Any memtoken;
- Lack of white paper and documentation;
- Most of the offering centered in the hands of the team and investors;
- Anonymous team.
White paper and documentation may exist for such projects, but most often either rewrites from other projects, or white paper and other documentation written very superficially and without technical details. For comparison, you can always look at a bitcoin's white paper and a shitcoin's white paper - the difference will be immediately noticeable.
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.
Here's a list of potential shitcoin metrics.
- Listing exclusively on decentralized exchanges such as pancake;
- Selling tokens through the site;
- No funding rounds;
- Lack of foundations as main investors;
- Any memtoken;
- Lack of white paper and documentation;
- Most of the offering centered in the hands of the team and investors;
- Anonymous team.
To identify new projects, it's best to do research on who owns the project and who the founders are. And an identifiable owner and an owner that's well-known and has a good track record, that's a sign of a good project, and vice versa and it also depends on your knowledge to know who's involved in it.
And it's also important to know if there are big investors involved, if so, then who is investing in it. If any well-known investor invests in the project, then this is a positive sign.
And also a sign that an Altcoin could be a shitcoin is to look at its market capitalization, and if the capitalization is low and I mean low, less than 100 million, even the altcoin has a low market capitalization. And that's a sign that not much money is invested in it and it shows that it's not a good or questionable investment.
And it's also important to know if there are big investors involved, if so, then who is investing in it. If any well-known investor invests in the project, then this is a positive sign.
And also a sign that an Altcoin could be a shitcoin is to look at its market capitalization, and if the capitalization is low and I mean low, less than 100 million, even the altcoin has a low market capitalization. And that's a sign that not much money is invested in it and it shows that it's not a good or questionable investment.
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.
Identifying "shitcoins" can be challenging due to the vast number of cryptocurrencies and the ever-evolving nature of the market. However, there are several strategies and criteria you can use to help you distinguish between legitimate projects and those that may be considered "shitcoins." Keep in mind that no method is foolproof, and there are always risks associated with investing in cryptocurrencies. maybe Here are some tips to help you to identify shitcoin, first Investigate the project's whitepaper or website to understand its goals and use case. If it lacks a clear purpose or real-world utility, it may be a sign of a shitcoin and last, do Research the project's team members and developers. A reputable project should have a transparent and experienced team. If the team is anonymous or inexperienced, be cautious.
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.
Identifying "shitcoins" can be challenging due to the vast number of cryptocurrencies and the ever-evolving nature of the market. However, there are several strategies and criteria you can use to help you distinguish between legitimate projects and those that may be considered "shitcoins." Keep in mind that no method is foolproof, and there are always risks associated with investing in cryptocurrencies. maybe Here are some tips to help you to identify shitcoin, first Investigate the project's whitepaper or website to understand its goals and use case. If it lacks a clear purpose or real-world utility, it may be a sign of a shitcoin and last, do Research the project's team members and developers. A reputable project should have a transparent and experienced team. If the team is anonymous or inexperienced, be cautious. Jump to: