Bitcoin Forum

Simple concept. Buy into the coins that don't try to hide the fact they are useless pieces of shit. I'm talking coins like Memetic and Trumpcoin. I always seem to do better investing in the shitcoins open about being shitcoins than the ones who claim to change the world. Thoughts?

in trading one party has to lose so that other party wins and makes profit. when the coins admit they are "ShitCoin" it means  people are not going to invest in it, not newbies anyways. and when only traders  go in there will never be much profit because they know where to buy and when to dump hence there will be no pump ever.

although there is an exception that those "ShitCoins" become interesting as a trolling coin or a joke coin like Doge :D

You are also probably doing better because of your lower expectations for the coin.

If a shitcoin rises two times you won't think twice about selling, but if the hyped up big coin rises twice, you think it can go higher and are inclined to hold instead of sell.

That's no way to invest.  Putting your money into any useless cryptocurrency is just throwing it away--whether the devs admit to the shittiness or not is irrelevant.   But why don't you try it out or do an analysis and let us know, eh?

Aren't all the alt coins "shit-coins" by default ? For a regular bitcoin user,they certainly are!
Since when people started taking swagcoin/weedcoin stuff seriously ? In my opinion,investing in a failure is a losing situation anyway,doesn't matter if you managed to hike your investments by a few satoshis.For the information,other shitcoins claiming to change the world in progress - Zcash.

Nope i would rather avoid those such already known as a shitcoin's since people would surely do some massive dump in the very first day of exchangers addition, and we can really seen those one wcisting and most like they are listed in yobit, thats why i'd rather go invest on hype one since high possibilities that many people would speculate,buy and hold since surely the price for that matter would pump for short period of time, and i really earn some profits with that selection and decisioning, and yet im not planning to hold for more weeks since ICO coins i know are easy to be dump or shall we say scam coins.

You got a point my friend! But I don't think it will happen all the time. Coins faces price fluctuations when big players dump and pump the coins. We don't know when this happens unless you know or  are a part of  a pumping group. Perhaps these guys pump up shitcoins just for fun and to earn money. 

Alts exist basically so traders can trade and make profit.

Any "shitcoin" that allows you to do this is a good coin. Period.

I will better invest into coins that have big promises and also have unique code base and good team behind. Even if they run away without caring about their reputation its better to live in dream than in fear of getting scammed by shitcoins.

this is called the magic of marketing and hype of big coins as the motto is never say never,it will give you a fancy feeling that it will still go up and that is the reason people are having hope in alt coins,when it comes to shit coins there will be only one pump and if you are not able to sell it at that time then you will be holding them for the rest of your life  :)

Its  just really  a  marketing strategy  for the dev  of a certain coin. This  kind  of  pumps are just  show  offs to its  investors and would not tend to sell off their coin   when there are  pumps and  hoping that  it would  rise  up on the  long run. Before we  invest  into a particular  coin   we  must  obliged our selves  to make  a research to a particular  coin if we saw that  it has a potential then  dont hesitate to invest. YOu could  really detect a shit coin into a potential  one  if   you have the time  to research and  investigate..

Yeah, and that's why we should research first on a certain Altcoin before investing to it. Make sure to also check the background movement of that coin to see if its coin uses Pump and Dump to attract investors. Additionally, the ICO coin that started in a very high amount must be avoided. It is one of the techniques developers does in their scam coins. Sudden pump must be noted also.

Today, shit coins are scattered in any trading platforms and we should be aware to that. We can minimize the risk of loosing money by carefully having a research first and set aside your emotions.

who in his right mind is going to buy something that the owners are announcing is shitcoin?!!!

you should know and accept that almost all of the altcoins that we can see today are shitcoins and the only reason that most of them are even alive with smallest volume is that they have not yet admitted their project to be shit!

they are releasing some stuff like a new wallet version, a roadmap, ... to fool people into buying it. if they admit people are going to dump and run.

In addition to Trumpcoin and Memetic, some of my most profitable investments include Shrek, Putin, and Billary. If it's edgy people will at least screw around with it, which can't be said about many coins out there.

I hear exactly what you are saying. You have to be honest from the start so nothing is a secret. So many of these coins start off with some bs fantasy story of an "innovative way to spend" which makes no sense since there is nothing new about it. Or they go on about some story and background for why they exist which always mean nothing. At least the shitcoins are honest. Honesty is much better then some fantasy story.

That is a good strategy but only valid for short lived pump and dumps. It's an all or nothing gamble... if you miss the pump to dump, then it's over, shitcoins never recover again.

Now, altcoins with a legit technology and development behind, can always eventually get additional pumps.

When dogecoin started it was treated as a joke and the biggest shit coin there was, but about three years later it's still in the top 20. Namecoin's at 45 in market cap, and primecoin's at 81 in market cap, Namecoin claimed it would change the world's domain name system, and primecoin claimed it would do important prime number stuff. Ironically the joke dogecoin shit coin was a better long term investment.

On the other hand since the coingen coins started getting mass produced most new shit coins are worthless extremely quickly. Yobit's littered with valueless coins that don't have working networks.

If you are lucky you can catch one of these shitcoins on the way up and they hit a 700% profit in one day,
(it happens almost every day on Yobit)
just be sure to sell before the bottom falls out because the pump and dump happens really quickly.

It's a total gamble but a ton of money is made and lost every day on these coins.

Yeah, since it uses Pump and Dump. You must know when it will dump and what is its peak to be able to buy lot of that coin. Then when the team is going to Pump it. Make sure to put your bid always on top. And trading in this kind of coin is very risky. So, you must keep in your mind that anytime, that coin may be dead so you must sell it as soon as possible. Don't aim for really high profit as it might cause the lost of your bitcoin. Decent profit is enough.

amen.

Yes and there are many shitcoins out there but doesn't mean there are no profit on there and it is depend on strategy of every traders, personality i traded altcoins that be survive on markets and i don't too like with new coin is like Trumpcoin. In my opinion it is just for growing up the popularity of Donald Trump on election in USA.

Namecoin and primecoin *were* good ideas.  But the sad truth is that they would only rise above a joke like dogecoin if crypto were actually USED.  It almost isn't.  Crypto is an "investers" (gamblers) business mainly, and is not something that is actually used much.  The actual use market cap of crypto is a tiny fraction of the market cap made by demand for "investing".
By use, I mean: use as currency (to buy stuff with and to sell stuff with) ; use as a genuine smart contract (to make deals with, other than deals about crypto itself) ; use as a store of value in the long term (without hoping for price rise) ; and indeed, block chain use of immutable ledgers, like name systems, and using PoW to do sensible work instead of heating up ASICS with mindless hash calculations.  Anon coins the same.  They are very important to privacy *if you do a lot of real transactions with them*.  But anon coins are useless if they are just, like the rest of crypto, mainly betting tokens on exchanges.

You could compare it to, say, cars.  If cars are actually used to travel, then the market will select those car producers that make good working, comfortable cars at decent prices.  But if cars are only used to speculate on, and to show off in one's garage, without ever having to drive somewhere, then shitty cars can take over the market from good running cars, if they have a better buzz behind them.  People putting a lot of work in good working engines will then never be rewarded as compared to people hyping nice looking, but totally bogus cars with engines that overheat if they go over 50 km/h, because almost nobody is actually driving them.

Crypto is essentially a car market where people speculate on cars, and very rarely use them to drive somewhere.  They still take the bus or the train for that.  But they speculate a lot about how they potentially COULD drive cars.

Definitely,if you are newbie in this industry,you'll be lost on those fantastic and wonderful graphic design and one of a kind of roadmap it's as if they are going to revolutionize something,then they ask you for money for realization of those projects..

TALK is trice the age of Memetic and Trumpcoin.
PumpnDumped on Polo back in april 2014.

but still alive, still functional network, and traded listed at yo and nova.

You could  probably  spot a  shitcoin   if  you are already  experienced  enough  but  if you are   only a newbie  on  trading for sure you would  buy those coins  .  Some  shitcoin  would be profitable  too  as  long  you  are  monitoring  its  price and  you do  have   knowledge  on  when  to  pump and this is  where the  waiting   and  guessing time  begins.

i will give 100 TALK to anyone with a solid rep on BTCtalk, reserve the right to define that in detail but more or less if you've been around for the last 3 years then i offer this tip :)