Topic: Shit coins era is going to end - page 3. (Read 1185 times)
I really don't think shit coins are reducing, Infact it would be almost impossible to come to the end of shitcoin in the cryptocurrency market. This is because of the ease of creating altcoin especially through smart contracts and the ethereum blockchain and binance smart chain tends to have the highest number of these tokens.
Shitcoins are born every day in this space, and it's like gambling. I have left shitcoin alone, a lot took my money and I don't want them to take more. At the end of the day, people would realize they should have bought good projects for the future with the money they lost to shitcoin. 2017/2018 pattern is at play again, in quest for quick relief money, you end up been burnt.
I hope it's for real because of these shit coins, many people are fooled and lost their money some have lost their lives due to getting scammed by these shitcoins owners and they are living in misery because they used all the money that is supposed to be for their future, in other words, their savings.
But this is far from reality because not only do we have huge numbers of shit coins nowadays, but we also have some shit NFTs that are adding to the problems of scams and fraud. If only creating coins and tokens is hard, like you needed a license to do so, these numbers of shitcoins will drastically subside in the upcoming years.
But this is far from reality because not only do we have huge numbers of shit coins nowadays, but we also have some shit NFTs that are adding to the problems of scams and fraud. If only creating coins and tokens is hard, like you needed a license to do so, these numbers of shitcoins will drastically subside in the upcoming years.
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.
The same shitcoin scheme still lasts until now, I see no change at all. Although the number of shitcoins is decreasing, I doubt if it is a sign of the end of the shitcoin era. As long as there are greedy people with careless behavior, the shitcoin era never ends. And we know that greedy people are always there, it is the reason that shitcoins stay a long time. There are still many careless people who put their money in shitcoins, it supports shitcoin exists.Anyway, what did you find out from your observation? Do you have valid data about a decline in shitcoin from coinhunter, coinvoter, or gemfinder? To be honest, I doubt they can classify whether shitcoin or not. The definition of shitcoin can be varied, for example it is about meme coins like Doge or Shiba Inu. Some people consider Doge and SHIB are shitcoins because have no clear fundamentals, while others think they are legit coins since they are a part of top coins now.
not all thers have crypto still good for long term like caw inu. idont know if its is shitcoin or memes coin. but this coin is still active by community caw inu is the dream hunter.
any inu coin is meme coin essentially shitcoins, meme coin could have active community because mostly they are seeking for the fluctuation if it's the innovation and development in general they don't even care since what they seek is making multiple return of investments and definitely isn't long term holding of their coin, they just want get rich quick scheme. not all thers have crypto still good for long term like caw inu. idont know if its is shitcoin or memes coin. but this coin is still active by community caw inu is the dream hunter.
I was really surprised to see the website from CAWINU, is this really the website? caw.is? if it's true this is a shitcoin website that is really shitcoin,
I don't think they want to show CAWINU is the best project even their website is not well developed,
avoid tokens like this because the future is very bad.
Shit coins are just trending coins which only work with trend. There is no real Usecase and real hype of these coins. During the trend these shut coins give very good profit to investors and some shit Coin cut so many zero in some days but now in bear market ,no body is ready to invest in major coins so how one can Invest in shit coins.
May be the trend of shit coins back but it's very risky investment at all. It's very hard to Become Shib and Doge for every shit coins.
Yes and no. Newer blockchains are enabling the easier creation of tokens (IOTA shimmer and ICP) but even though it is easy to create tokens now, getting listed on price trackers and exchanges is getting harder and harder. May be the trend of shit coins back but it's very risky investment at all. It's very hard to Become Shib and Doge for every shit coins.
not all thers have crypto still good for long term like caw inu. idont know if its is shitcoin or memes coin. but this coin is still active by community caw inu is the dream hunter.
When the market bearish that has happened almost a year certainly makes many shit coins die, especially the Shit Coins trick is a maximum pump of up to thousands of percent so that it becomes trending in Coinmarketcap and when they get victims, they immediately sell.
Hope its a end of those shitcoins.
I don't agree that the end of the shitcoin era has arrived. Shitcoins are gaining momentum every year. Every year more and more such coins appear. Just look at the statistics of dead coins that appeared in 2021. The growth is fantastic, and it will continue to grow.
Shitcoins are an integral part of the crypto market. And they will keep popping up until the crypto market is regulated, similar to what is seen in the stock market. Even with their level of regulation, though, there is still a category of stocks called junk stocks.
I agree, but there are many problems to be solved. For example, the problem of decentralized exchanges, which are not regulated by anyone, but where the most junk coins appear. If these exchanges fall under some serious jurisdiction, such as the U.S., then the amount of various garbage there is minimal. But most decentralized exchanges do not belong to such jurisdictions in any way, so there appears various uncontrolled anonymous trash, which aims to make money on naive investors.
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.
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.
Thank for sharing information like this, I was a victim in first and second on investment without making a proper research on the coin for they utility, which many of the coins end up been dumped during and after the bull run market, and that really teach me a lot of lesson in crypto investment to make proper research before invest.
That is very unrealistic that "shit coins era" is ending. Until there will be greedy and naive people, until people believe that they can get rich without even placing a tiny effort, there will be shit coins. Another prove of endless "shit coin era" is the simple process of creating a token or coin in cryptocurrency. It takes minutes to create a token, it take an hour to create a webpage and whitepaper to start acting like a serious project. Availability and simplicity of cryptocurrency are the ones that will make "shit coin era" last forever.
I don't think shitcoin could ever become our needs, it's different, like meme coins, it's indeed interesting how they could survive even the luna crash and retain their value but at the end of the day, they aren't becoming our needs, instead they now rather stuck, since they are like last alternative when it comes to investing, the first ones are still the ones that have real utility, like eth and bnb, shitcoins just gonna become shitcoins, nothing more.
Of course we don't need shitcoin for any trading, but anyone involved in shitcoin investment will get high losses, so I don't understand about the definition of we need shitcoin because it doesn't make sense because people don't want to lose from investing. So avoid investing in shitcoins and be wary of investing in potentially scam new projectsIt's true that ideally we don't need shitcoins to trade, which is a very high risk. But don't forget where high risk usually has the opportunity
to generate large profits too. Because if we have good analytical skills and are also experienced in the crypto world, we can make profit from
shitcoins. Usually, whales use shitcoins to make pump and dump, so they manipulate the price of shitcoins to create hype. That's why we often
see in the market for no apparent reason there are shitcoins that suddenly pump very high.
So shitcoins will always have a demand and it is impossible to end, especially there are still many newbies who often buy shitcoins, because
most newbies make decisions based on other people's opinions. While some influencers will take advantage of newbies to be able to generate
profits by promoting shitcoins. So it's best to avoid investing in shitcoins if we don't understand the crypto world and are inexperienced,
because indeed the risk of us losing money is indeed very large if we invest in shitcoins.
There is a paradox in the market that people always want high profits but are afraid of risk. They don't want to invest in bitcoin because they say it no longer gives them high return, but when they invest in altcoins, shitcoins they are afraid of high risk. There are many people who are too greedy and often those people will not be able to make a profit in the market.
Just like human society, to develop, society needs this person, that person, so is the cryptocurrency market, to develop and grow, bitcoin alone cannot build a market. Shitcoins not only won't die but it will be an important part of the market, just because you don't like it doesn't mean others don't need it, everyone's taste is different.
I don't think shitcoin could ever become our needs, it's different, like meme coins, it's indeed interesting how they could survive even the luna crash and retain their value but at the end of the day, they aren't becoming our needs, instead they now rather stuck, since they are like last alternative when it comes to investing, the first ones are still the ones that have real utility, like eth and bnb, shitcoins just gonna become shitcoins, nothing more.
Of course we don't need shitcoin for any trading, but anyone involved in shitcoin investment will get high losses, so I don't understand about the definition of we need shitcoin because it doesn't make sense because people don't want to lose from investing. So avoid investing in shitcoins and be wary of investing in potentially scam new projectsIt's true that ideally we don't need shitcoins to trade, which is a very high risk. But don't forget where high risk usually has the opportunity
to generate large profits too. Because if we have good analytical skills and are also experienced in the crypto world, we can make profit from
shitcoins. Usually, whales use shitcoins to make pump and dump, so they manipulate the price of shitcoins to create hype. That's why we often
see in the market for no apparent reason there are shitcoins that suddenly pump very high.
So shitcoins will always have a demand and it is impossible to end, especially there are still many newbies who often buy shitcoins, because
most newbies make decisions based on other people's opinions. While some influencers will take advantage of newbies to be able to generate
profits by promoting shitcoins. So it's best to avoid investing in shitcoins if we don't understand the crypto world and are inexperienced,
because indeed the risk of us losing money is indeed very large if we invest in shitcoins.
I don't think shitcoin could ever become our needs, it's different, like meme coins, it's indeed interesting how they could survive even the luna crash and retain their value but at the end of the day, they aren't becoming our needs, instead they now rather stuck, since they are like last alternative when it comes to investing, the first ones are still the ones that have real utility, like eth and bnb, shitcoins just gonna become shitcoins, nothing more.
Of course we don't need shitcoin for any trading, but anyone involved in shitcoin investment will get high losses, so I don't understand about the definition of we need shitcoin because it doesn't make sense because people don't want to lose from investing. So avoid investing in shitcoins and be wary of investing in potentially scam new projectsthe dilemma in this market is there will always be newcomers. thus, they are the ones prone to getting involved with this crap. i can understand that some here already learned their lessons. and slowly, people are understanding that this type of coin is not worth investing. however, you can't get rid of the fact that there are some people who will try to dip on this coin because of the hope that they can get high returns at a short period of time.
This is quite a terrible trend in crypto. And I'm just sick and tired of it. Stupid and worthless shitty of shitty coins popping up every now and then, and clogging up the market. And malicious characters utilizing the opportunities
I don't think the era of shit coins will ever end as time goes by, they will increase. They will be used in different things which may become our need, Apart from this, those who do rug and pull will also need them and it is also important for those who are thinking of becoming a millionaire in the short term.
I don't know about this thinking. Did you mean that we need this because of short-term profit and to become rich instantly? How about if they fail before it happens? I'm not sure how you can afford to take risk investing shitcoins which literally you don't have any assurance that will give you back at least a small profit but probably losses. What we need is a sustainable market project like Bitcoin and ETH, not these worthless coins that only ruin the image of the market.
shitcoins in general is like tool for speculation, it's like gambling, it would hardly just vanish like that, different era of cryptocurrencies have different shitcoins, like shitcoins that's meme coins and even shitcoins that disguise themselves as metaverse coins, as long as there's still speculation in cryptocurrencies I very much doubt that shitcoin could ever just vanish. since some traders are just gonna seek fastest way in creating profit at the end of the day.
Shitcoins exist in all formats of cryptocurrency and it is really tough to stay out of traps. Some might experience the goodness, but it is simply hard to understand and make an investment. Recently during the death of England Queen Elizabeth II, immediately after her death news more than 50 memecoins got developed and some even gained good volume and growth in the price.Shitcoins are mostly situation based and it is good to try your luck with what you can afford to loss.
It will certainly not end, only new ones will continue to emerge. When we look at the years between 2017 and 2022, we saw 2 bull seasons. A large part of my projects that emerged during the bull season in 2017 went to waste and new ones emerged with the fomo of the bull season between 2021 and 2022. So what I mean is that as of fomo, the vast majority of old shit coins just go to waste and are replaced by new ones.
True, This cycle will never end. I meant we must aware with this cycle that happened since a few years ago. The fact that if new shit tokens will be coming as a replacement for another one who already dead. The scammers will always creating more and more new tokens. Since the protocol was decentralized and there's no way to stop them all. Thinking about the era for shittoken will be going to end as soon as possible is pretty naive. It's caused by the trust was saying the opposite thing. I guarantee you that if you have 50k dollars, you could turn any shitty thing into a million dollars profit, and you are telling me that it’s not going to be done by people just because they do not want to hurt others investments? Nobody cares about our money, they care about how much profit they can make.
Hope its a end of those shitcoins.
I don't agree that the end of the shitcoin era has arrived. Shitcoins are gaining momentum every year. Every year more and more such coins appear. Just look at the statistics of dead coins that appeared in 2021. The growth is fantastic, and it will continue to grow.
Shitcoins are an integral part of the crypto market. And they will keep popping up until the crypto market is regulated, similar to what is seen in the stock market. Even with their level of regulation, though, there is still a category of stocks called junk stocks.
Although there are a lot of people who dislike shitcoin, the reality is that it is a part of the market, and it is an important part of the market as well. Can be seen every time the bull season comes and the shitcoins generate impressive hype thus attracting a lot of new entrants to the crypto market, shitcoins play a huge role in attracting new users.
It is also very difficult to have regulations banning these shitcoin projects, as they mostly have anonymous teams so there is no way to stop them.
Jump to: