Dig a little bit deeper into the Whitepaper of these coins and you will see that it was basically a "Copy & Paste" of previous Alt coin code with no significant changes or innovation being introduced.
Topic: Question to Bitcoin maximalists: What defines a ShitCoin? - page 2. (Read 298 times)
My definition of a Shitcoin can basically be explained by getting into the mind of the developer or developers behind these coins. You get some people who just decide to create a coin for the wrong reasons, like making a quick profit or coins for experimental purposes or simply a coin that was just developed for the fun of it.
Dig a little bit deeper into the Whitepaper of these coins and you will see that it was basically a "Copy & Paste" of previous Alt coin code with no significant changes or innovation being introduced.
Dig a little bit deeper into the Whitepaper of these coins and you will see that it was basically a "Copy & Paste" of previous Alt coin code with no significant changes or innovation being introduced.
There are some words loved by the community. And shitcoin is one of them. A lot of friends will make their own shitcoin definitions. But I have a problem with that word.
Usually in this forum and in the community, the word shitcoin is used for coins that people don't like. For example, XVG is shitcoin for some but the opportunity to invest for the other part. Same as TRX, DOGE ... etc.
Shitcoin, as far as I know, is called coins created for price manipulation without any purpose. Yobit, Cryptopia, and many more have hundreds of these shitcoins on the platform. I think you should be careful when using the definition of shitcoin. It can guide people's investment decisions.
Usually in this forum and in the community, the word shitcoin is used for coins that people don't like. For example, XVG is shitcoin for some but the opportunity to invest for the other part. Same as TRX, DOGE ... etc.
Shitcoin, as far as I know, is called coins created for price manipulation without any purpose. Yobit, Cryptopia, and many more have hundreds of these shitcoins on the platform. I think you should be careful when using the definition of shitcoin. It can guide people's investment decisions.
If you're going to take a look in the Announcement (Altcoins) there's a lot of shitcoin around there, we all have our own definitions of shitcoin and here's mine:
- No Application to real world
- No exact solution to the existing problem
- Same concept with existing successful project
- No use just listed on exchange
- No platform to use the project
- Fake volume
- Listed on shit exchange
- Pumps and Dumps
- Poor development of project
For me here's just some of what defines a shitcoin that comes to my mind right now but definitely there's a lot of descriptions/words that can describe it more.
- No Application to real world
- No exact solution to the existing problem
- Same concept with existing successful project
- No use just listed on exchange
- No platform to use the project
- Fake volume
- Listed on shit exchange
- Pumps and Dumps
- Poor development of project
For me here's just some of what defines a shitcoin that comes to my mind right now but definitely there's a lot of descriptions/words that can describe it more.
Question to Bitcoin maximalists:
there is no such thing as "bitcoin maximalist". this is a term used by altcoin pumpers who wanted to say their useless coin is best and brand anybody who said otherwise as a "bitcoin maximalist" to prove their coin is good and get it pumped up.Quote
>> What defines a ShitCoin?
- uselessness- lack of innovation
- copied code
- flaws
- centralization while claiming to be decentralized
- general lies they tell to pump the coin
basically when you see a project that has copied almost all of its code from another project that means the said project is in fact a shitcoin.
1. Pump-and-dump. A coin that once listed on a exchange, you will see price fluctuations.
2. Dev suddenly left the project itself, no updates whatsoever after they have released it. And then complain when the shitcoin will be de-listed by an exchange.
3. No real life usage, just a copy cat of previous successful projects.
2. Dev suddenly left the project itself, no updates whatsoever after they have released it. And then complain when the shitcoin will be de-listed by an exchange.
3. No real life usage, just a copy cat of previous successful projects.
Can't consider myself as a maximalist but obviously shitcoin doesn't have the following characteristics
- No diehard supporters.
- No value
- No one cares
All new coins that has no die hard supporters, no value and there would be no one who cares are all considered a shitcoin. Unless it can prove its worth
- No diehard supporters.
- No value
- No one cares
All new coins that has no die hard supporters, no value and there would be no one who cares are all considered a shitcoin. Unless it can prove its worth
Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:
1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)
1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)
And I fully agree. Shitcoins are there just to make things cloudy and shitcoin developers are existing or doing their things for the sake of getting money or remunerations as their contributions are not needed that much. Shitcoins who are scams are usually victimizing innocent people -- people who just desire to get something of what they investing. We have to be careful with any project that we go with...as many of them are just shitcoins masquerading as the next big thing in the world of cryptocurrency. Beware!
Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:
1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)
1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)
Dentacoin 
.. great sample, tx 
Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:
1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)
1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)
Question to Bitcoin maximalists:
>> What defines a ShitCoin?
>> What defines a ShitCoin?
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