What are the characteristics of a shitcoin?

leviathon

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Quote from: ti4c on August 04, 2018, 06:34:03 PM

I keep hearing people call a coin "shitcoin". I have seen some arguments regarding some coins being called a shitcoin but yet the same coin ends up being impressive in its growth in the market. I thought a shitcoin should be a coin with no potential or use. Can someone clarify for me on the term " shitcoin", it will be helpful for investment knowledge. Thanks

Mostly a shit coin is a coin that does not have any good product to offer the investors which basically makes the coin useless. A coin that has a high potential of failing in the near future is a shit coin. Unless the coin does otherwise and starts to show that it is in fact actually a good coin that can be useful people are going to keep referring to it as a shit coin.

Mishgan27

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usually sitcommom understand coins that have a bad reputation. there are coins in which even the name is bad: I'm not going to call them, because they con-tains not censorship of the expression. their creators want to make a release against the public, they are rebels. but in the market we can see the growth and popularity of such coins. if you perform bitcoin when in 2009 he was worth $0.000625, he, too, was considered a true sitcommom.

honex2

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Every now and then every crypto currency is labelled shit coin till it proves its genuinness and real world use. But shit coin is most crypto currency that have no road map no real world use just created without Amy direction

unknown-user

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First of all, low market value which is way far from its market price in its ICO period. From then, people would more likely to sell already and if majority would do so, there'll be no more volume for a long run resulting for its market value to no longer increase. This I tjink is the factor that people are considering when they call a coin "shitcoin".

EnormousCoin101

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There are some coins on the market that are getting hype but if you research the project then you will see that there is no actual product, small community and developer has no updates for their project like partnership with known companies then I am sure that coin is a "shitcoin".

WalkerIVIV

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Quote from: ti4c on August 12, 2018, 07:24:12 PM

Quote from: mexite on August 05, 2018, 06:51:28 PM

A shit coin can be identified by any of these characteristics:
1. No tangible product(s)
2. No development team
3. Too good to be true claims (exaggerated claims)
4. Selling point of the token is the price it will hit an exchange with (price discussion prior to listing)
5. No technical plans

I have a question about your second point, how can a coin go through ICO without a development team? Just curious as to how one or a few persons can handle that.

Maybe he was talking about the ico that has no team member but as long as the developer is really proffesional even a single person can create such a new system just like byteball which has created DAG system and this has already copied by NANO and IOTA. I suggest you to see Byteball and it's created by only one person.

Prince Malik

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Every coin linting in a good exchange with the half price or less is a shit coin only if the price will recover shortly...because i never see a price of a coin recover after a long time of falling

ti4c

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Quote from: ub27 on August 06, 2018, 12:13:59 PM

There is no definite product. Team dev does not do any development work. Usually pumped or dumped. I have encountered a lot of shitcoin. For example, gbx. I bought it for 23$ per gbx. And the current price is 1.7$. 11 months of operation and they do not have an application that is implemented as a roadmap

Wow...that i s a huge loss

ti4c

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Quote from: mexite on August 05, 2018, 06:51:28 PM

A shit coin can be identified by any of these characteristics:
1. No tangible product(s)
2. No development team
3. Too good to be true claims (exaggerated claims)
4. Selling point of the token is the price it will hit an exchange with (price discussion prior to listing)
5. No technical plans

I have a question about your second point, how can a coin go through ICO without a development team? Just curious as to how one or a few persons can handle that.

ub27

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There is no definite product. Team dev does not do any development work. Usually pumped or dumped. I have encountered a lot of shitcoin. For example, gbx. I bought it for 23$ per gbx. And the current price is 1.7$. 11 months of operation and they do not have an application that is implemented as a roadmap

karthcrypt

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The first you will notice about cryptocurrency that are bad is unending supply of such cryptocurrency. There will be humongous supply that will have no demand. Another red light on bad coin is that they are always instamine, no fair mining and reward.

danherbias07

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Maybe you should be looking at the profile of who said it and why.
They might just be Fudding an altcoin for their own greedy moves. Making people dump some token so that they could buy it at a cheaper price.

If it is really a shitcoin then you will find no progress with it. Do not just believe in anything you see on telegram for there are a lot of Fudders that are scattered now. Look at how the company markets their product and that could be the truth.

boy130

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Quote from: joerogers8 on August 04, 2018, 09:41:17 PM

The dangerous shitcoins have no product but some sort of prototype that's about to go live. They have tons of marketing and slick graphics. They may also have a white paper that is well done. The lack of product is the one tell tell sign that you have to be careful.

I agree with you. Most of the signs of a shitcoin are particularly those when the price is relatively high due to some sort of market misconceptions but in its true colour the coin is worthless with no perspective of any product.

vallytech

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To me a shitcoin is a coin that the price of the coin, is 50% down below the ICO and the project is not completed, the team doesn't communicate with the community on the progress of the project, no partnership, no event attending etc, that's a shitcoin for me.

Kang TB

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Revolutionizing Reward Points

Quote from: mbally on August 05, 2018, 06:28:05 PM

In my own opinion, shitcoin are the once that doen't have a good user case, their product doesn't make sense and on the exchanges, the price of the coin always go down without going up.

sometimes a sitcoins have a huge pump, but, only a while,, after that the bigger dump coming
a shitcoins just a coins without real dev tem and without a real product also a shitcoin mostly a useless coin

mexite

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Activity: 706

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A shit coin can be identified by any of these characteristics:
1. No tangible product(s)
2. No development team
3. Too good to be true claims (exaggerated claims)
4. Selling point of the token is the price it will hit an exchange with (price discussion prior to listing)
5. No technical plans

mbally

newbie

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In my own opinion, shitcoin are the once that doen't have a good user case, their product doesn't make sense and on the exchanges, the price of the coin always go down without going up.

sinachy

newbie

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There is always a misconception when it comes to coins, most people in cryptos space regards a coin to be shitcoin when the market price is going down and down, people will say, the coin is a shitcoin, but it's not suppose to be so, projects should not be measure just on it's market value.

cryptobae10

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Shitcoins have the following
1. Tempting and promising project idea that never gets fulfilled
2. Fantastic price when they list on exchange only to dump miserably
3. Zero development after tokens are dumped by project owners

Lighthouze

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Activity: 196

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The characteristics of a shitcoin are in a no particular order;

1. The team have no plans to further the project.
2. No updates
3. No consistency with roadmap
4. Price remains stagnant on exchange despite BTC rally
5. Code on Github is never updated

Topic: What are the characteristics of a shitcoin? (Read 219 times)