Topic: Shit coins era is going to end (Read 1288 times)

As long as shitcoin can generate hype, can generate big profits in short time, its era will never go away, shitcoins always come back and get more crowded every time the bull season comes. Although shitcoins causes many problems related to scams or investor losses, it also creates hype, generating attention for the crypto market. Thanks to the hype of shiba last year, the market has also attracted the interest of many new investors from other markets, this is also the other side of shitcoins.

This is an open and unregulated market so obviously shitcoins will continue to exist and shitcoins are now part of the market, it brings diversity to the market.

The ironic part is that big players who are benefited by such tokens are swaping the profit made to bitcoin as soon as possible, while most investors lose their money holding priceless coins.

Once the demand for cryptocurrency rises again we will see many new projects and concepts being launched. Developers are just waiting the right moment for that, because if they did it now, it wouldn't be profitable for them, as they know there aren't many speculators around at this moment to pump their tokens and create hype.

this is only temporary, once there's bullrun that comes, the shit coin gonna resurface again and would definitely try to scam many again, this is the thing with shit coins, it's always seek the right chance in scamming people out there which of course gonna results in so many people losing money because people are greedy in general.

Well to be honest to be honest, I don’t believe that the Shitcoin era is going to go away since people are always trying to find the next get-rich-quick coin. Now even more than ever newer "shit coins" are being created every day.

People who don’t know much about the crypto space will probably buy those types of coins thinking they will be able to make a short-term and fast profit.

I don't think shitcoins will just disappear like that. There are still people who prefer investing to these tokens because its profit potential is greater than investing to those crypto with real utilities. Let's also add those paid influencers shilling it where they tell people that it could reach $0.xx even if it has more than a trillion supply.

I hope Shitcoin really disappears from the cryptocurrency world,and if that happens I'm very grateful, but it doesn't seem possible,
because cryptocurrencies are decentralized meaning no one is regulated, and will certainly be a threat.

You are correct in your argument that it is not profitable for developers to release a finished product during a bear market, because no one would notice it in such an environment. But I don't agree with speculators pushing the price up. This is done by manipulators (exchanges or big players) just to attract speculators so that as many people as possible buy the coin. Such an example would be Ustc or Luna classic, which was pumped up again and attracted new speculators, most of whom will lose money.

They will design another shitcoin after the old shitcoin dies, so shitcoin will never disappear because scammers on past projects have raised hundreds and millions of dollars from shitcoins, so make sure you are not interested in investing in new projects offered by anyone, you should avoid investing on shitcoins and some new projects, so choosing a top coin is a safe investment condition for the long term.

When the Red Market is long time or almost a year, there are automatically many shit coins that die, only a few have the capital for pump, but in the morning the pump is already red again because of the many investors who immediately sell, this is a good thing that the bear market be a selection to remove the shit coins.

Most shit coins are tokens from BSC and Polygon, because the cost to make shitcoins from BSC and MATIC is very cheap, even just $50k can create a project that has great potential to become $500k, of course, this is what scammers use, namely making projects from shit coins.

Yes, it's psychology. And it mainly benefits the big players in the market, such as exchanges or funds, who manipulate shitcoins as they see fit. You could say they are making money out of thin air on naive people. As long as such a scheme works, then shitcoins will not disappear. Time after time, the altcoin story repeats the same scenario.

Yes, it's psychology. And it mainly benefits the big players in the market, such as exchanges or funds, who manipulate shitcoins as they see fit. You could say they are making money out of thin air on naive people. As long as such a scheme works, then shitcoins will not disappear. Time after time, the altcoin story repeats the same scenario.

Many useless coin projects emerged between 2019-21. Most of those projects are shelved in 2-3 months. I don't know whether this is because of bearish trend or people's awareness, the number of shitcoins projects are declining. I observed them various sites like coinhunter, coinvoter, gemfinder etc.. This is a good move. But if market gets bullish again, we have to see whether they born again out of nowhere.

Even if they give a comeback when market picks up, I don't think they are going to succeed. Because people who are in already crypto realised the importance of utility.   People who are new to crypto should do little research. That's enough for them for not falling in the trap.

 Few funny and shitty project examples :

 - The holders of coin earn for every transaction. That sounds nice. But they need to pay tax for every transaction. What does coin actually do? Nothing. They will say they make it as alternative for bitcoin. Oh really, with 15% tax on every transaction + gas fees, people really think your shitcoin is alternative to bitcoin

- Charity tokens. These project want to donate for good cause. That's really good intention. But how does money come? They get it by selling coins. They sell it by saying they can earn by holding and staking? How? Again buy and sales tax comes into picture. Without proper utility how does it can survive?

- Gaming token. They don't even have game yet. But they release the tokens first. We can understand they are using this tokens as raising for funds for development of game. But they don't even have a prototype. They just have a nicely edited video. Those game concepts are very silly. They don't expect whether people play it or not. They expect holders of those token to play. (I listened this dialogue from a project owner in a AMA).  Holders of the coin should invest in the project. He says holders will play as their money is involved in the project.

There are many other shitty coins. Hundred different concepts. None of them has proper utility.

Hope its a end of those shitcoins.

When the Red Market is long time or almost a year, there are automatically many shit coins that die, only a few have the capital for pump, but in the morning the pump is already red again because of the many investors who immediately sell, this is a good thing that the bear market be a selection to remove the shit coins.