Topic: How To Spot a Shitcoin? - page 2. (Read 802 times)

Almost all ICO coins is now a shitcoin, i have many coins since 2017 and they don't even have a value right now or some of them had been dump it's price so deep. If the don't project have potential use case the project will eventually failed and their coin will be a shitcoin.

It's not easy, and with some scams, we don't know they are scams until the last minutes. They cover everything, everything they do is good, they cover all they need, the project can look great and promising, but in one moment they just disappear. While some scams are simple and can be spotted quickly, with a first look
we get some red flags in the head, with some it's complicated.

Sporting a shitcoin is not as easy as we think. Some projects actually do have some product but their marketing strategy doesn't fit the project thereby making the price dump heavily. Others have a locked source code while some others have major tokens in the hands of developers as they didn't do any ICO to sell their tokens. Its a complicated process identifying a shit coin.

All coins in this market can become shitcoin if the project is inactive for a long time. I think it's not difficult for you to check if the coin is a shitcoin or not, but it's best if the coin cannot rise in the long run, it's best to stay away.

Besides, if you want to invest safely, you should only choose the coins in the top 100 CMC because these are very popular options for investors.

1. Shitcoins are projects that are build for nothing good
2. Shitcoins to many are coins that failed after few months or years

These are two different things entirely, many good called that failed have different reasons why they failed, not all of them are scam projects

You're right, I did research on the project for almost 2 days just to find the information I needed, but when I joined IEO they turned out they were shitcoin .. in my opinion real projects and scam projects 90% have in common and are very difficult to be detection

Shitcoins have different levels and the most easiest ones to detect are those that are badly built with crappy use case, there are many big projects in the past that are now shitcoins but when they were released there is huge Hypes surrounding the projects, shitcoins are ghost, you can't see them

This is a very tricky question, do you know how many coins that were once called shitcoin but on the long run they perform better than many altcoins? For example dogecoin or hex, the truth is we can't know how determined the team for a these projects are, not until they do something different and good

True! It easier to say a coin isn't good than say it's bad! You can determine a "not good" project by doing research. I suggest you do not ever invest your money into a project that seems "not good enough" or "too good". When I do my research, if I have any doubt about that project, I will stop thinking about investing in it!

its very difficult to identify a shitcoin.. they are hiding even after so many research you do on that coin still you are not convince that is a shit coin..the moment you realize its a shit coin is when you bought some and afterwards its has no more value 

It's still possible

1. Do research on the team to confirm is they are real or if they use fake identities.
2. Check the project use case, if it's repetitive projects don't even bother
3. Whitepaper plagrism is still very common, some scam projects still steal others idea and craft whitepaper too

I believe that only 50% percent of shitcoins are detectable nowadays, some projects will pretend to be ready for great future, they will satisfy investors but after few years they will exit scam, it was all planned by the team from the start

It's easy, any coin that is not able to make top 25-50 is basically shitcoin. Because all of these coins have made it through huge market cap and people acceptance is heavy they could be considered as secure coins to invest. In practical terms any coin that sustains market for longer time would be considered as good coin since that's what expected for long term investment in traders eyes.

Any coin that is not making the above list is shitty since they are struggling a lot and acceptance getting reduced.

Follow this basic rule and track coins to know which are the best.

You can spot shitcoins that are cheaply build, with small research on team members picture and linkedin account you can easily uncover some hidden truth but there are bad ass scam projects that have real team and CEO, they can even make public appearances to 'make investors belief', they are undetectable

you cant spot a shitcoin , nsa360 is a scammer and scammed people with his own coin and btcpop . his real name is Marco Filipe Salgueiro Pereira from portugal . he is the owner of secretcoin (scrt) . talking on this forum and nobody knows he create a shitcoin, he is john galt3 @HumaKatuaba on twitter, i doxed him and delete account.

The fastest way to detect shitcoins is the vibes you can pull out from the team using simple questions on their group on telegram, it's sure that you will get blocked if they have something they are hiding, questions are always good, you will get some reactions fast

not just dissapointment you will get on them but other bad   traits too or impression but why would you invest on them if you knew that they are sh8tcoins anyway ? or unless you are a newbie and dont know how to differntiate a legit from a sh8t  .  also why would a sh8t project post on github ? i thought legit and professional projects can only be found on this site but if ever a sh8t project post on git , they can easily be caught out because most people that uses or visits git are knowledgeable . noobs stay away from that site anyway because they can only see codes .

Shitcoins always disappoints I suggest we all stay away from them, going through their github you can easily nailed them, they have stolen designs on website, they are well known for plagrism I'd you know how to do research

Shitcoin will go down fast if:

-do not have use case (working platform) which spend same shit coin in amount close or above daily coin production

-is not listed in at least one exchange with steady daily volume (real volume, not bot trading -> to many green buy transactions which are all fake)

-has realistic reward scheme after presale ends, so it do go to hyperinflation - anything above 100% yearly will not stand

-real team members pictures and linked-ins do not mean a thing, they all can be faked and i saw to many projects do that (bitcoin do not have real team members)

-company registration means nothing, more than 1000s 2018 ICO scams all have companies, some of these companies are still operational, but they just took eth and play ghost

-If it is token and offer financial services and it is just utility token not security one, than avoid in large circle since SEC did not approve it

-if it is coin with own blockchain, that blockchain should work without need for constant update of client unless use case is wallet itself - otherwise in most of cases, coin is payment for coin use case platform and it just should work in send/receive/store/pos and hold masternode collateral's if it is masternode.

Those are some rules, not all ,and major problem is that sometimes some shitcoins do perform very well at start since good marketing, and than fail.

Another problem is even worse, there are some good coins, with all good parameters but just either unlucky or with not good marketing so they stay undermined and not in expected levels for years.

Without government regulations, I think we personally must be able to adjust, so as not to be involved in shitcoin. but sometimes this is difficult to identify, because they can convince many investors with their strategies. therefore experience will lead us to understand all that