Bitcoin Forum

I've got a news to share about shitcoins, the moment the coins that people are holding aren't surging when they want they will start calling such coins shitcoins, many called electroneum and apollo currency shitcoins last year but this year the coins start showing good signs, you don't have to make your money from Bitcoin or popular coins, you can make money from not so popular projects too, remember HEX? Haha I'm sure you guys know what I'm talking about.

DId you know why some people have been calling them especially ETN as a shitcoin? it caused by ETN has no utility usage and you can see that from the progress that has already made by ETN.
it's not always about the price but some may consider a project that has no clear direction about what product that will be made and its use case as a shitcoin too.

Really? Well that's on your own point of view, I use electroneum to buy recharge cards or data for browsing straight from their app with no hiccups, tell me how this project is useless when their team are doing all they can, who would have thought that electroneum can recover back to 0.005$ ?

You're very right in some aspect.  At times, abandoned stone can become the chief cornerstone.  Shitcoins to some people may be projects that do not really have any appreciable value in the market again.  In the other hand, definition of shitcoins to some people may be projects that are dead and their developers have ran away.  What I believe is that coins/tokens that are still in the market but at a very low price to our expectations can still make it during bull run or sometimes when market situation improves, so we should not completely term them as shitcoins.

Compare to how team member of new projects are today electroneum team are better because they never give up, more use case will be implemented in future, many thing otherwise against this coin but it's only a matter of time they will be surprised, capable team is all what a new project needs, even if a project has a very good use case if the team aren't capable the project will fail, that's not the case with electroneum

Some shitcoins are shitcoins because they lack real use case or they are build by money grabbers but some good coins are mistakenly taken as shitcoins because of slow development or called shitcoins because people don't meet their expectations

This is a valid statement with proves around, And yes HEX comes to mind, after hex then there is this projects AZBI bounty, it ended up having a good value after listing on idex exchange. This is why you need to shun criticism and only pick valid points from there. Do not judge a project because others judge them, judge a project because it is worthwhile.

You are right in this. most tokens that we claimed that are shit have real values and are meaningful. what they lack is proper marketing and wrong management. Most has decent roadmap but how to make it a reality is a problem. just because they have low volume does not means they are bad. sometimes, the process to achieve the success needed is quite Hard.
it  is a rough road.

I think for a coin to be called shitcoin it means it has no value (or appropriate use case) and the team won't be doing anything tangible to revive it. But however, there are still coins whose team might be working but the price won't be like what we want it to be, in this case I can't term them shitcoins, just like in the case of ETN.
From another angle, people have different opinions about shitcoins, to some people, once a coin gives them profit or massive gains it is not a shitcoin while to some, if a coin have no use case, then it is a shitcoin.
But in all, if one looks closely, it has been coins with good and applicable use cases that keeps attracting massive attention thus exposing more about the crypto space to the world.

Don't ridicule a project because others said they are shitcoins, I will gladly hold any shitcoins in my wallet as far as I'm satisfied with the team and project's use case, I don't invest on projects because people told me so, I have my own reasons, are they shitcoins? Thank you I'm satisfied with my shitcoins

People have their own preferences and perception. For most, the ones that doesn't yield them quick profit are shitcoins. But we as an investors can't call a coin good if it doesn't give us any profit in 4+ years. Some projects keep on doing the small tasks and keeps the coin moving while some coins development are only limited to their social media. And there's no straight line between a probable project and a shit project. It's better not to shame other coins unless it's a total scam.

I'm very much good with bitcoin and I'll say that it's still the most profitable cryptocurrencies of all. If you guys are good with altcoins and it's more profitable to you, that's your choice and you can have your own opinion with it.
But it doesn't mean if it's effective to you, it should be effective to others. Like myself, if I say bitcoin is profitable which the majority will say, others will disagree as they say some altcoins are profitable to them base on their experience.

I think ,i need to keep my "shitcoins",who knows one day it will have value like the coins you mentioned.
Anyway,not all coins are bad,but because of no clear usage and the progress of those project are slow as a turtle and with low marketing strategy that's why it was called shitcoins but as the day goes by,the project team did a lot of effort just to survive those coins  and give it a value in the market. well,still much better to choose and hold those coins with great possibilities to grow in crypto space and can be use in some cases or with a real use in the future like bitcoin and ethereum.

It would be very ridiculous too if some people consider shitcoin on a coin because it does not meet their expectations, because the evaluation of shitcoin does not lie in the expectations of some people but in real use cases.

yes actually only a few projects called shitcoin managed to show if they are not as people say, but remember it's only a few projects. the other is clearly shitcoin

People don't call coin a shitcoin just because it doesn't have high returns, a shitcoin is a coin with poor fundamentals which means it has no long term potential. In short term even the shittiest coin can surge, and it even happens a lot, because shitcoins are subject to pump and dump schemes. Electroneum and apollo and both good examples of a shitcoin - they may look attractive, might have some short term momentum, but in a few years they will trade for 1 satoshi at best, or will just get delisted from all exchanges. Or maybe miners will abandon them and their networks will die.

now that's wrong. actually there are many shitcoin in cryptocurrency market. ethereum founder ever said that only less than 5% project could survive in market , and another on will be shit coin or shit project which is have no usage in crypto market or in life adoption.

Yes, we can make money from unpopular coins because that coin can get a pump in anytime, but that will be too risky to play around with that coin. We don't know when the coin will increase, and we can only hope that soon the coin will get the time to increase. But all coins in the crypto world will have the risk, and you should know how big the risk if you choose the unpopular coins. That coin will not survive in the long term because not many people support the project and many of them will leave the project as soon as they can make a lot of money from the project.

Shit coins doesn't mean you can't make profits from that coins, you can still make profits but we can't be sure how long those coins will exists in the crypto market.Shitcoins are nothing but another coin with the no real purpose of existing.So you need to be careful while holding those coins.

If you are losing money and your expectation about the coin that you've invested in is not delivering and developers don't care, it's ok to call this coin shitcoin, a good coin always a work in progress and they prove it by giving investors update about the project.

If the coin was just on the mercy of signs I can call them shitcoins at all. The thing to consider a shitcoin are those involved on a pump and dump schemes, they may have value but if they can't provide a good use for the community then let them stinks as shits.

Tell me what's so good about ETN and Apollo in your own opinion OP? What could it bring to the community?

if they are not making money out of it, its shitcoin. you obviously has a bag of electroneum maybe from mining from phone as they claimed to be. i could have been mining the coin too if i just knew the team is that good but nope.

i just learned from this team that it can be used to purchase. if it does find its way to make demands for investors why not. congrats to baggers.

So many coins are created to become a pump and dump coin, their lifespan is very short you can possibly lose a lot of money if you keep holding shitcoins and you donot know when to exit, you will burned holdingshitcoins and they are the scorned of the industry, it's better to focus on coins that have proven their worth for a long time already.

I have 50/50 feeling about shitcoins. Those who have no utility, no use, no value, no community and no real company behind it are all scams and scalawags for me. Does not worth my attention. On the other hand as you have mentioned, if there is still activity on it and people are still having trust with it even for a long time, then it is good. I have a so called shit coin, nothing whatsoever, but dev is still active and coin stalking for 3 years now, so I guess there is still hope.

What already stated by ethereum founder sounds like he was giving a clue about how much projects that will survive in this market at the end of the story. Some coins that were underestimated have been growing crazy like enjin coin or other.

Sometimes people are just joking and we should not take it seriously as the base of truth. if someone calls a particular coin/token as a *Shitcoin maybe he/she has the reason about it, but it doesn't mean that it's true, we are bound by our understanding why we should call any coin/token as *Shitcoin for me I will categorize a coin/token as *Shitcoin if the coin/token has no real use case/utilization to create and drive the demand of that particular coin/token that was resulted to dump its price. and that was my opinion!

This is so true, we can't all think the same way, everyone has their reasons for calling a project shitcoin, all you have to do is find your own reasons by doing research, you may be able to find answers that others can't

Shitcoin - a coin that has no use at all, its application cant be seen or feel in the eyes of users. Most projects are called by this term, coherently cause they believe its value are depend only on hype, manipulations and other means of shilling.

I know hex, this is one of the top shitcoin ever created, luckily for hunters they can have some profits from their work but how about those whom invested on this? Its okay if they got out with profits but some investors ended up losing on believing by hype.

Let me see, shitcoins are coins that can't be sold on exchanges because no one is buying them, they are completely useless and worthless, right? But some called some coins shitcoins because they aren't pumping, this is the most common

Sorry to say, but shit coins are shit coins. Even if the price sky rockets, they still will be considered shit coins.
Sad to see you believe that a coin isn't a trash coin if the price is high. People call them shit coins because they are probably scammy, or have nothing new to contribute other than being a clone coin. And yeah, the price of shit coins can be easily manipulated.

that term lost its meaning long time ago when people started referring to everything they didn't like as shitcoin. Its always a good idea to look for reason when someone refers to an altcoin as shitcoin and if you can't find the reason you should trust your own reasoning.

that's because many new altcoins don't have current values. or those who are listed on the exchange but do not have an interest because the project is not running or has problems. shitcoin is indeed the most suitable term.

Basically community members name realtively new, undeveloped or low value projects as shitcoins while with time it can change and from shitcoins the project can develop into a pro level high quality practical platform there are many examples of such projects, you can look into snx and swissborg that were looked with suspicion at the start but now they have successful products and ecosystem.

If you have the confidence and the money to spare for shit coins then you should understand that there are risk involved as you can become the grand daddy of bag holders if you expect them to go higher. Every day some or the other coin will pump and i am yet to figure out exactly which shit coins moves higher on a daily basis as i have already lost a lot of money in the past and now i am not financially stable to experiment with my money.

Hex was called shitcoins many times and it end up give them a surprise, Dogecoin was called shit coin years ago until last bullrun that makes dogecoin shines even more, let this be least of your problem, focus on gathering the good altcoins and leave people running their mouths

If they'll be able to find the use and make a good deal with businesses to adopt their system, then it's going to bring a  huge benefits to those
who invest and mine this coin, though util now there's none.

Lucky for bagholders who claimed this coin from mining over the phone if there are usages that the team will be able to offer, if there are additions
to the industry it's really needed to be working out.

the reality is that you will also never know that a coin that you have saved for years but eventually dies, does not work, has no sale value, is not listed on the exchange. and people often say shitcoin because the project or coin has no progress at all.

Due to past experience and losses that people have seen in crypto space they falsely blame some projects most especially when they look alike, I don't blame them for this though, hex project looks like scam that's why people called it a scam, the CEO promised huge return on HEX website, that's something scammers did in the past, people don't just blame projects as shitcoins without no reason but sometimes they might be wrong

People call coins shitcoin because they aren't pumping, I've seen this happened on telegram countless times before, or maybe the coin was surging and it start dumping due to market condition some idiots will start creating FUD, I'm surprised you haven't seen that before

It can't be more true! However, there are some newbie out there still call a coin as shit coin if they see it doesn't pump! Whenever you hear somebody call a coin as a shit coin. You should look into his or her knowledge, skills, and experiences about the cryptocurrency market. If an old traders tell me so, I would believe. If a newbie talk with me about shit coin, I'll do my own research before believing in it!

That's the common thing in this community,

The main reason why people call a coin as a shitcoin if it is not pumping, it means to them that there is no development that is happening to that certain coin. It always happen in every altcoins in the market.

Actually, even before Electroneum and other so-called Shitcoins. There was Dogecoin, which was also called a shitcoin but after sometime, people stop calling it like that due to the fact that they now know how to utilize it. I also joined the Electroneum campaign when I was new and made a mistake of not selling it instantly but its just fine because I used to buy recharges in our country which was also good.

Shitcoins are called like that because they have no use for anything whatsoever.

Coins with active github development can not be considered as shitcoins.

They will reach to good values if they keep improving their code...

Shitcoins are been called shitcoins because of the following

1. Token or coin takes too long to pump, maybe it's been around for like two years or more and no big pump many will start saying bad things like spreading FUD

2. Project team aren't encouraging, their channels are dead and no good updates for months

3. The token or coin have no good use case and instead of price stability the token or coin keeps dumping in value till it become worthless

Not many of that project can improve their project and reaching every phase of their project plan. The other project is dying in the bear market while they can not rise again and survive. I consider that if the coin can not manage their project, and they are hard to try to survive, that is the time for me to leave the coin and not to invest or trade using their coin because it will only waste my time analyzing the coin.

Of course, it sometimes happens that you think that altcoin in your portfolio just died and will not give you any profit, but the day comes when this altcoin gives you an excellent profit, but unfortunately there are very few such moments, but I hope the situation will change.

But the question here is How many of them are legit?because you have mentioned Electroneum and Apollo but how many currencies
 are released together with this coins that until now staying as shitcoins and some are also dying already?

There are few shitcoins that survive the market but only few of them,in this case let people called them shitcoins until
 they finally prove that they have future.

Even Ethereum until now was called shitcoins by Bitcoin supporter,but let them realized in time.

Yes, in the crypto market we cannot say anything in advance, but there will be two types of investors. Safe investors will choose the top coins for long-term investment or trade there. The rest of investors are called risk takers. They always find shitcoin with high pumpability because it is being undervalued. For example, HEX, no one thought its price could x10 in such a short time. Besides that, BTCV and other anonymous coins are listed at small exchanges or anonymous exchanges. If lucky, our account will grow many times more than other investors. ;)

A project is usually called a shitcoin when it has almost no prospects either for future growth, or even a slight recovery.

Some cryptocurrencies have been on an almost perpetual downtrend ever since they were first launched, either because the team was incompetent or abandoned the project, or due to a lack of faith in the community or poor tokenomics.

I think it's more important to distinguish between altcoin and shitcoin, since a lot of people use the terms interchangeably, when it's obviously not accurate for the most part.

Meh not for me.
I guess it is just up to one's optimism to one project. I never held any shitcoins for so long, and I just decided to just sell them off to Bitcoin which is pretty much more worth the hold.
Don't keep holding into shitcoins there, mate.

For example Moozicore was once a good project and McAfee even hyped this project but in the end it's now worthless, this is an example of shitcoin, it looks like the project won't stand up again but sometimes the unexpected always happen

Shitcoins can be defined in so many ways but I really want to know how to differentiate a promising coin from a shitcoin. Some of this projects may seem good from the beginning but later it wont amount to anything eventually and vice versa

How can they achieve good grades when the code is improved ? wouldn't a token value be seen if the buying demand could increase every day in the market? I'm a little confused by what you say, try to explain more fully.

I believe that in the cryptocurrency market, most coins are shitty coins, but the most important thing is not to be mistaken. There are even situations where a rush is artificially created around coins and their value on the cryptocurrency market is fake. You can give an example of such coins as Jur or the ClinTex project, when after a very long time the lack of any information, the teams of these projects very carefully work on their development. Although until recently They were considered lost to the market.

yes, people's perspective always leads to shitcoin when new coins (in particular) appear then the expected profit rate of investment does not match expectations. actually it takes a process, especially to increase market cap numbers, so prices can also be pumped up. and that can't happen in a short time.

People have got lured by the percentage profit or say because of the greediness or lack of knowledge had invested in some projects which has yield them heavy losses or say they have lost their money in such coins. Though not everything is a shit coin because some of the coins  have done really well and people who stayed invested have made good amount of money as well.

A not popular coins with price thats not surging is not a shitcoin, it might be waiting for its time to boom. If we say shitcoins it means it has no value and cant be traded to exchanges and the dev abondoned the project.

There's a hidden gem in these not popular coins we just need to dig deeper to find out what coin could it be.

Its just that most investors prefer to invest in top coins in order to ensure the profit once the market turns bullish.

it might be better to mention coins or tokens that were successfully distributed but left by their developers. like a dead project. even though they are already on the exchange, we can still see projects like that.

I have not heard about apollo currency but electroneum cannot be a shitcoin. But, anything about hex must be too earlier as hex focus on locking your coins for 180 or for similatr time frame and also you must need to spend some money on paying for ethereum's gas while claiming your free  hex coins for your BTC balances. If this topic is all about hex then I want to opt out.

Hex may not be a shitcoin and at the same time, does not have any superior innovation for claiming and saving for long term holding.
In my view, it is just another bitcoin fork with mandatory holding period in the name of staking and the worst part is paying for ethereum gas which must be complete new on BTC forks regarding.

That must be the right definition of shitcoins. I just entered into this topic by assuming OP is talking about shitcoins in general but he is trying to promote hex, a BTC fork on ETH smart contract with enforced holding periods.

If not pumping is the only reason why people call a coin a shitcoin, then these people are newbies who are only setting themselves up for huge losses if they will keep ignoring fundamentals. It's irrelevant what happens at any given altcoin market in short term, they can be up or down, but if you zoom out, they are all trending downward. This is because their fundamentals suck, they can compete with Bitcoin or Ethereum if they are trying to, and their innovation is either useless or non-existent.

Hodling altcoins is stupid, and trading them is also stupid, because you can't win against the manipulators. No matter how you look at it, altcoins are shitcoins.

There are several projects (a small part) in launching the coins they make, developers cannot maximize their performance so that the related projects stop in the middle of the road due to obstacles or other reasons, thus making the related tokens worthless in the market. but on the other hand there are some project owners who are seriously redeveloping their projects to be able to raise their names so they try to offer massive promotions and finally coins that are initially worthless or can be said by most people as shitcoin then become very valuable because the developer continues to work hard to be able to improve the projects they have launched so they can attract more investors

i think the term shitcoin came from those self drop projects last 2018 wherein people create new smart contract and ask people, community to invest in that project by sending eth in their desired wallet. After those marketing strategy, they will try to enter the exchange but then nothing is happening.In other words shit coins means useless coins  ;D

A token is termed a shitcoin when the developer's of the project is not making a positive progress about the project. Year to year no positive feedbacks on their social network handles of how far they have gone in making the project more useful. They only keep mute for years without giving information to their community about their future plans