What Do You Guys Think About So-Called "Shit-coin" ? - page 8.

Jackl87

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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 ?

I definitely belong to the second group here. I think that all those meme-coins that were appearing within the last 2 months or so are definitely not good for the crypto market, i actually believe they were harmful for the whole crypto space and also one of the main reasons why the market began dumping around mid may. I don't think it's a coincidence that the height of the meme-coin hype and the beginning of the market dumping happened around the same time. Those meme projects just took away to much liquidity and capital from "real" projects with a use case and a product. It is also not a good impression for people outside of the crypto "bubble".

Review Master

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BitByte Crypto: https://link3.to/bitbytecrypto

If those are just launched with the deflationary mechanism, than those are just here to do pump-dump stuff and eventually those will disappear from the market when bear market will be started. But we can take advantage of those shitcoins to make profits and don't try to hodl for long term purposes. Also, few projects are having plans to do more developments except deflationary mechanism which could be good to buy with only those funds which we can afford to lose, IMO.

(o)(o)ilikeboobs(o)(o)

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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 ?

Projects with a large supply hurt the developers of blockchain projects because most of them were created to manipulate rates and disappear.
Investors pouring money into shitcoins encourage bad projects and hinder serious projects from developing. We need creativity, new technology instead of shitcoins.

Ucy

sr. member

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Thought they use that phrase for centralized and substandard projects.

Anyway,i believe it's better to give all the opportunity to build any kind of good and useful project they want as long they do not deviate from important development standards, and they should build projects that do not compromise on important cryptocurrency ideals/principles like Decentralisation, Transparency, Immutability, Censorship Resistance, Privacy/Anonimity, Safety, Public Consensus, Deflationary Currency (more like inflation-peoof currency), etc

uneng

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Leading Crypto Sports Betting & Casino Platform

It's better to stay away from these coins you mentioned. Although it's possible to make nice profit by speculating on these shitcoins, it's also very risky to hold them and small investors who can't afford to lose money should stick only with solid main crypto currencies which have strong potential for future gains.
I believe shitcoins/memecoins are more like a toy for rich investors to play among their group of friends and to have something curious to talk about, since they can afford to lose without considerable negative consequences later for their personal finances.

TopTort777

legendary

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Shitcoin is a shitcoin. Nothing much to talk about it. But having them in cryptocurrency world is good or healthy. Users who buys shitcoins bring new money to crypto, which further will be exchanged into something from top alts or Bitcoin. All these shitcoins create good hype. In general they are useless, but they push the interest to cryptocurrency. They are good comparative indicator. After buying shitcoins, people will realize what true gems and profit crypto is.

DeathAngel

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#1 VIP Crypto Casino

Bitcoin is obviously the King, the main alts like ETH, Litecoin etc are good but there are indeed many shitcoins & scam tokens that let the whole crypto scene down. Do your due diligence & full research before investing in less known coins/tokens.

RedsIsBlues

newbie

Activity: 1

Merit: 0

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 ?

Topic: What Do You Guys Think About So-Called "Shit-coin" ? - page 8. (Read 1049 times)