What Do You Guys Think About So-Called "Shit-coin" ? - page 3.

Fivestar4everMVP

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Quote from: RedsIsBlues on June 29, 2021, 05:28:04 AM

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

Well, from my Personal point of understanding, that a coin has a very large total supply does not make it a shitcoin, or qualify it for that tag, any coins without a good or unique use case is considered a shitcoin, and this is regardless of whether it has a lot of supply or just a few millions, a coin with just 1 million in total supply and each coin worth 0.001 is a shitcoin.
To make you and everyone else understand better, a coin that promised tech it obviously can't be able to build or wasn't able to build and as such is considered a failed project is a shitcoin, it has nothing to do with the total number of coin supply it had or has.

wheelz1200

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Quote from: RedsIsBlues on June 29, 2021, 05:28:04 AM

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

They are called that for a reason. Naive people step into crypto and end up losing a lot of money in these schemes only for the creators to get more bitcoin. It only detracts new people from sustaining in crypto and the inevitable inclusion of crypto in our society will take that much longer. Reasonaly I can see a handful of coins needed, but the thousands and thousands of clone coins can disappear off the map and it will make things much better.

campusnet

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Quote from: marilynmanson21 on July 14, 2021, 10:04:46 AM

shit coin can't be for the long term, they just rely on fomo I think, for old players they will understand if they are going to take a position to take shitcoin, they will definitely hit n run, and will never come back when they get a profit

professional traders and investors know how to make a profit with shitcoin.
holding it in for the long term is a bad choice. there's a chance they could be better. but for the most part, I believe all will be discarded and abandoned.
there are even a lot of shitcoins that are not listed on the exchange. you can see it in your wallet from bounty rewards and airdrops. surely you see shitcoin that will not generate anything.

marilynmanson21

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shit coin can't be for the long term, they just rely on fomo I think, for old players they will understand if they are going to take a position to take shitcoin, they will definitely hit n run, and will never come back when they get a profit

CryptoGuy42

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Quote from: jaberwock on July 13, 2021, 11:39:54 AM

Quote from: CryptoGuy42 on July 12, 2021, 07:16:52 AM

I think shitcoins has one major issue: new investors getting caught up in the hype, investing, then becoming bag holders. Then they never want to invest again. I know a lot of people got introduced to crypto from the DOGE media frenzy. I am sure a lot of them did not DYOR as they say.
I personally investing is some meme/shit coins, but it is money I am willing to lose. BANANO, because I love the community and BYG (Black Eye Galaxy) because I have always wanted to own a planet. BYG actually has utility unlike a lot of "shit-coins" so I don't know if I should consider that an alt coin or not. BYG lets you own a planet and make returns on the resources and initial discoveries you make!

The problem is that we should not be responsible for them losing money, but we "sort of" are. What we should be suggesting to them is DYOR and nothing more, that's it and if they don't do that we should not be responsible.

However what they hurt us is the fact that when they get in, they end up not getting out because they lose money and then they go around telling people how horrible crypto is, when in fact it was their idiotic move that caused them to lose money. They are out there creating a bad name for bitcoin and crypto just because they didn't do their research, which is why I think it is unfair for them to do that but the reality is that they still do it and hurt the crypto world. At the end of the day this will continue and there is nothing we can do, whatever happens will just be part of the crypto world and it is already calculated in.

Very well said. I am not the best with word, but this is 100% how I feel. I know a few extended friends that both made lots of money and lost lots of money in the DOGE/GME hype.
What do you think of the BYG (Black Eye Galaxy) token I mentioned? I know it can be a long shot, and I would only invest what I can lose, but it could be a real gainer. Also fun to play.

jaberwock

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Quote from: CryptoGuy42 on July 12, 2021, 07:16:52 AM

I think shitcoins has one major issue: new investors getting caught up in the hype, investing, then becoming bag holders. Then they never want to invest again. I know a lot of people got introduced to crypto from the DOGE media frenzy. I am sure a lot of them did not DYOR as they say.
I personally investing is some meme/shit coins, but it is money I am willing to lose. BANANO, because I love the community and BYG (Black Eye Galaxy) because I have always wanted to own a planet. BYG actually has utility unlike a lot of "shit-coins" so I don't know if I should consider that an alt coin or not. BYG lets you own a planet and make returns on the resources and initial discoveries you make!

The problem is that we should not be responsible for them losing money, but we "sort of" are. What we should be suggesting to them is DYOR and nothing more, that's it and if they don't do that we should not be responsible.

However what they hurt us is the fact that when they get in, they end up not getting out because they lose money and then they go around telling people how horrible crypto is, when in fact it was their idiotic move that caused them to lose money. They are out there creating a bad name for bitcoin and crypto just because they didn't do their research, which is why I think it is unfair for them to do that but the reality is that they still do it and hurt the crypto world. At the end of the day this will continue and there is nothing we can do, whatever happens will just be part of the crypto world and it is already calculated in.

viananda2525

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Quote from: RedsIsBlues on June 29, 2021, 05:28:04 AM

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

cryptocurrency market will looks good or bad it is depend how we use our sight to analize this condition. some people recognized crypto market as good place to invest their money and maybe already got some profits. meanwhile for those getting loss will always look it as bad due too many shitcoin that make beginer investors suffered loss.

CryptoGuy42

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Quote from: ?? on ??

most of the reasons why these coins can be called shitcoins are because they are worthless, only listed on small exchanges, or even failed to be listed on any exchange, so they can't be sold and are worthless

This is a good point but generally correct. But that is the BSC in general. I wouldn't even know where to start to count all the coins.
But the other side of things, is a token/coin has to start somewhere, unusually on a small exchange, but it can grow. BANANO for example (hard fork from Nano) has been around for 3 years now and is still not on the "big" exchanges. $BYG is also another example. Black Eye Galaxy is a decentralized NFT token. It is currently not on any large exchanges but as the new NFT platform/game takes off it hopefully will be added to others. I am excited for this and hopefully score some nice planets and have some big returns.

Slash61

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Quote from: ?? on ??

most of the reasons why these coins can be called shitcoins are because they are worthless, only listed on small exchanges, or even failed to be listed on any exchange, so they can't be sold and are worthless

that's mostly the right reason. cheap value even though they are listed on the exchange they have no real trading volume. especially those who only exist in the wallet and can never be traded.
don't you also have a lot of coins like that in your wallet?

panjay

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There will always people who want to make a quick buck/cash grab..

No matter where the place was...what is already happening and having a hype, there always be a copycat who gives no value...and try to scam a newbie.

The crypto people must know this kind of thing..so they also participate, because you know who doesn't like money.

CryptoGuy42

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Quote from: aysg76 on July 09, 2021, 12:57:17 PM

Quote from: RedsIsBlues on June 29, 2021, 05:28:04 AM

What do you guys think about this issue ?

There is no issues with all the shitcoins if you are not interested in them and are aware of the current fake pump of these coins and moreover have not invested your funds in them to lost them forever.So just listen or simply ignore them all if you can't handle all this market nuisance at this time and all your issues will automatically be resolved.They don't pose a threat to btc but only ones suffering will be the holders of these shitcoins and that's the issue for them.

I think shitcoins has one major issue: new investors getting caught up in the hype, investing, then becoming bag holders. Then they never want to invest again. I know a lot of people got introduced to crypto from the DOGE media frenzy. I am sure a lot of them did not DYOR as they say.
I personally investing is some meme/shit coins, but it is money I am willing to lose. BANANO, because I love the community and BYG (Black Eye Galaxy) because I have always wanted to own a planet. BYG actually has utility unlike a lot of "shit-coins" so I don't know if I should consider that an alt coin or not. BYG lets you own a planet and make returns on the resources and initial discoveries you make!

ILuckyGuyI

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The only benefit of shitcoins is making people rich if they are really lucky I think. I don't know of any other benefit of them. They are just occupying a space in the market and they are no more than trash. And in the future, all of them will be vanished from the market. We will see only the powerful ones surviving and the number of them will not be too many.

geegaw

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Quote from: newdevices on July 09, 2021, 01:29:45 PM

Quote from: Dexion on July 09, 2021, 12:05:12 PM

Quote from: kidbounty on July 09, 2021, 06:46:14 AM

to me shitcoin is a coin that has no real use. The coin thrives on speculation and market manipulation. like meme coins, coins like doge, shiba, and others are one of the shitcoins. The coin thrives on the influence of influencers and repeated market speculation. shitcoin is so bad and littering the crypto market, it will just be a dump when the time comes.

indeed the term shitcoin is usually pinned to a meme coin, but for doge an exception, the achievement of doge some time ago provided several benefits for the holder, beyond the effect of Elon deliberately making a pump.

Talking about dogecoin indeed it is one of the coin memes but of the many coin memes I think only dogecoin has enough potential,
other than that dogecoin occupies the top coin and in fact it is,
So I think Dogecoin is worth considering

Worthy to consider it as a house to contain the pump, except this very effective hidden feature, doge's other potentials are probably just weak average and not more creative than other projects, the need to use it as a cost has also disappeared when many young projects have improved and optimized more while doge is old and in the final steps of his career. Shitcoin also has a degree of distinction, at least dogecoin is showing it as the most caring type with the longest time devoted to the market and investors.

isaac_clarke22

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Quote from: newdevices on July 09, 2021, 01:29:45 PM

~

I supposed you just invested in Dogecoin because Elon hyped it up?
I get it that there are platforms that still makes use of Dogecoin, but it was just meant to be really a meme coin as it is. I can't speak on how much value should it really be because it was all just a meme.

I got interested into investing in that coin back then, but then I now realize that I should not.

john_nautica

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Quote from: RedsIsBlues on June 29, 2021, 05:28:04 AM

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

Actually, those shitcoins or shit tokens were useless compared to the real coins like Bitcoin, Ethereum and other coins which has a purpose but this kind of coins has a large market cap but the use of these coins were useless at all and did not worth investing for. So, in other words you cannot choose this coins as an investment but maybe just for a quick profit and just go with the hype. That's my opinion about these coins that's popping out of nowhere.

Viscore

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Quote from: Samurai trieng on July 09, 2021, 02:27:02 PM

In my opinion shit-coins are altcoins that are not growing and have no sales volume at all, so this coin is not good for the investment, currently shit-coins or coin memes have been circulating in a crypto, but of many shit-coins there are Dogecoin worth considering because it has good prospects compared to other coin memes,

Shitcoins have been growing so fast in the crypto market and knowing we can't control them makes the whole crypto market more risky to invest. Shitcoins or meme coins are just totally the same and they are mostly the reasons why newbies end up in a huge loss since they are esily lured with these cryptos who mostly don't survive in long term.

So i suggest make your due diligence and never fall for shitcoins or meme coins. They will give us profits at first but definitely we will be in great loss too since they all dump too once the market is in bloodbath and most of them will not recover again.

Samurai trieng

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In my opinion shit-coins are altcoins that are not growing and have no sales volume at all, so this coin is not good for the investment, currently shit-coins or coin memes have been circulating in a crypto, but of many shit-coins there are Dogecoin worth considering because it has good prospects compared to other coin memes,

tersek

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I think that these shitcoins bring a bad image to the crypto market. Because as we know, the fraud in the crypto market is quite large and until now there are still people who believe in these shitcoins. This is an unresolved problem in the crypto market.

newdevices

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Quote from: Dexion on July 09, 2021, 12:05:12 PM

Quote from: kidbounty on July 09, 2021, 06:46:14 AM

to me shitcoin is a coin that has no real use. The coin thrives on speculation and market manipulation. like meme coins, coins like doge, shiba, and others are one of the shitcoins. The coin thrives on the influence of influencers and repeated market speculation. shitcoin is so bad and littering the crypto market, it will just be a dump when the time comes.

indeed the term shitcoin is usually pinned to a meme coin, but for doge an exception, the achievement of doge some time ago provided several benefits for the holder, beyond the effect of Elon deliberately making a pump.

Talking about dogecoin indeed it is one of the coin memes but of the many coin memes I think only dogecoin has enough potential,
other than that dogecoin occupies the top coin and in fact it is,
So I think Dogecoin is worth considering

aysg76

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Quote from: RedsIsBlues on June 29, 2021, 05:28:04 AM

What do you guys think about this issue ?

There is no issues with all the shitcoins if you are not interested in them and are aware of the current fake pump of these coins and moreover have not invested your funds in them to lost them forever.So just listen or simply ignore them all if you can't handle all this market nuisance at this time and all your issues will automatically be resolved.They don't pose a threat to btc but only ones suffering will be the holders of these shitcoins and that's the issue for them.

Topic: What Do You Guys Think About So-Called "Shit-coin" ? - page 3. (Read 1049 times)