Bitcoin Forum

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 ?

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.

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.

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.

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

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.

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.

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".

It's only giving benefits to the short term speculators but it was hurting the crypto market because so many shitcoins already created as a way to grab money. Some shittokens have become a rugpull tokens that were running away with the investor's money.
it has no benefit for the crypto market but it's very similar as a plague. you must know what's the reason why people called that as a shit token because that's similar as a shit.
shit tokens are always getting issued by scammers

Whenever you hear people complaining about "fake cryptocurrencies," they are complaining about "shitcoins". Basically, shitcoins are usually the ones that can't be used or traded for anything else.

Most of them start with a pump and dump, the sole purpose is that they created as a copycat because of this pump and dump and then the owner abandoned once they earn a lot from the naive investors.  So they called it "Shitcoin" because there's no value on the market, the causes are they don't have actually a real purpose in crypto space or lack of functionalities.

However, it is easy to spot possible shitcoins projects, it could always start with the owner and the developer and then followed by all fake documents.  Investors who want to have a quick profit without proper research will always end up investing in a shitcoin on their portfolio.

In my opinion there's no good shitcoin in the market, Yes you can possibly earn a good amount of profit in a very short period of time but the risk you are facing is just very big that when you wake up in the morning your shitcoin asset is done and most of the time they don't recover because the support/devs abandoned that shitcoin you invested. Most of the people who gambled buying shitcoin losses before gaining that's why it's not really recommended to buy it. Buying good coins with lesser gains is better than investing in these shitcoins in my opinion.

If you look at the crypto market, you will understand that there is nothing on top of Bitcoin. It is the only coin that everyone picks up. There are horizontal coins in order. But if you want to buy it, you must pay close attention to that coin.

Shitcoin is a coin whose benefits are not that great, but having shitcoin in the crypto market is a good thing, because shitcoins usually bring new money into the crypto market and exchange it for the more popular altcoins or even bitcoin. In addition, the existence of shitcoins can be a differentiator which coins do provide benefits to their owners and which coins are only extras in the crypto market.

shitcoin is out of place for the long term, that's all I know of. not many people suffer huge losses from investing in shitcoins. I don't know what they were thinking, maybe they wanted to find a shortcut to add to their portfolio, but unfortunately, they took the wrong step.
let's get back to Bitcoin, and forget about shitcoins which will only stress you out more.  ;D

nominal dari jumlah token yang sebenarnya adalah sebuah masalah. tapi apakah mereka memiliki produk nyata atau tidak. jika mereka hanya sebuah token yang digunakan di bursa tanpa sebuah produk nyata atau bahkan tanpa adanya project yang jelas, maka shitcoin tersebut tidak layak sebenarnya.
bahkan jelas bisa merugikan pasar crypto. karena nanti akan semakin banyak orang baru yang ikut membeli koin sial dan akhirnya akan memiliki pandangan buruk terhadap crypto.
ketika semakin banyak muncul kripto adalah penipuan, jelas itu mempengaruhi investasi yang masuk.

It is not actually an issue but it's a common thing to the market. But if you're fond of investing into those tokens called like that, you have to be sure that you know what you're investing. There are many of them but there is no assurance that they'll bring profit to you especially if the hype for that coin is already done. So much newbies are very hype investing into those type of tokens not knowing that they could be just wasting money on it.

They are called shit coins for a reason and i dont see the thing on why it was helpful into this market but actually it is just flooding out on the first place.We dont need its existence since we do only need those projects which are relevant and does have real world use or does actually had purpose.

If we do try to look out in regards of usage and relevance then we do see that majority of coins or projects are totally copycat to each others which means they arent useful at all but due to hype and some shills
then these coins do really get out some value.

When you do tend to invest then its always been suggested that you should be looking for the best ones and had been mainly supported or does have demand.

How can you say that shitcoins are going to be good for the community, its useless and the creators are going to make money using them by selling it on presale and by listing on scam exchanges then they will let the project to die so it's useless in terms of use case that is why we call it as shitcoin/token.

I think this was inevitable, since we are in a decentralized market then there is no central authority controlling  the quality of the coins being released, even if I am a firm believer in the technology behind bitcoin I am not against developers that think they can develop a new coin with different characteristics which could perform a certain job better than bitcoin.

But if we are honest the amount of those coins in the market is kind of small, most of the coins being released have no chance to ever become successful or are outright scams, this is why we see people deciding to ignore altcoins completely as they prefer to play it safe and this damages those coins over the long term as a part of the community decides to not listen to them at all and call them shitcoins regardless of their real potential.

As far as he is concerned, some people are making money and therefore it is good for cryptocurrency sector. With established altcoins, this logic makes sense. When BTC or ETH goes up, a lot of people make good profits. But I don't know whether the same can be said about shitcoins. Because those who purchase these coins at rates close to ATH will suffer heavy losses in the future (unlike the case with investors of BTC and ETH, who are likely to get good returns if they hold on to their investment for a few years).

Expect for few selected crypto currencies, rest of them are shit coins or tokens. They have no real use case. Either made out of thin air to scam people, has nothing new to offer or is a clone of an existing coin.
Those that say it's good for the crypto world are the ones shilling for the shitcoins so that it gets pumped. Or they are just trying to create a hype and exit with profit. Don't listen to them. Shitcoins are bad for the market.
Invest in shit coins, highly likely you will be unlucky and lose everything.

It is normal that people are looking for a profit in these "shitcoins" because the regular ones are not doing amazing right now. I do not think that bad ones will make you any profit neither, in fact most of the time they will make you lose, but people are looking for that "gem" that will be in the pile of shit and that is what can make your dreams come true.

This is a very very difficult thing to do and requires a lot of capital and a big courage and confidence, you will end up losing so much and getting scammed, rug pulled, "hacked" and many other things before you can find one good thing that will make all of that worth it. There is an actual chance that you may never find that as well which is the real difficult part. However if you stick with the big coins, that is guaranteed to profit a bit in the long run, not as lucrative as a gem find, but at least guaranteed profit over long period of time.

In other words, you can label a coin or token as a shit one, if they have no reason to exist, and has no real value in the market. Most of these coins are created for the benefit of their own "devs", even pump and dump coins can be included in this category. Because they are only after for the possible gain and not worried about their possible contribution to the market. Most of the time, they have very short lifespan as the team behind it will just disappear in no time, once they already pocketed some money to their project.

If we look at the positive side, the existence of shitcoins certainly plays a role in driving interest in cryptocurrencies because the purpose of shitcoins is of course to be traded by converting them into Bitcoin.  but the downside is that many fraudulent projects take advantage of the situation so that the tokens they create are just worthless junk coins

not only the supply is too much, but also has no real function, the fundamentals are weak. mostly just follow trends, hype, for example token memes that use animal names.
look how many shitcoins are pumped up and then crash to the ground, even only lasting a few days. if you don't have self control and fomo, it will be very risky to join a project like this.

Indirectly it might make a layman's bad view of crypto worse, but for those who want to really learn and those who already understand the crypto ecosystem, they will definitely consider this a normal thing. it is very important to have basic knowledge as a self-defense tool in a highly volatile crypto ecosystem.

I cannot understand the benefits of these shit tokens with unlimited supply, for example when the price of Dogecoin started pumping people started to look for similar meme coins and some of them rallied 1000% SHIBA INU and what is crazy is that their return of income is 561254.03% which is really crazy and developers will be thinking to come out with similar projects with huge number of coins and change their fortunes as well.

Actually it really depends on the user or trader. If a trader is very knowledgeable in the flow of the market, he can use shitcoins to make a profit because he knew the logic behind shitcoins but if a new trader uses shitcoins to gain profit but doesn't have knowledge or even research, he will lose a lot of money.

Shitcoins is more complicated than other altcoins published on exchanges since it's impossible to predict whether it will continue to pump or not because some hodlers have already profited.

I'm into shitcoins because I already gained many on that but the risk is very high and you should always DYOR before entering.

They call their concept a troll coin. and it's not wrong when they call it a shit coin. because their project is only based on trolling / for fun but with a high profitable concept for them. I myself am not very interested if I have to buy coins like that  for my investment except only for doge ( i've using it for few years), there is many thousands of coins exist on market, there is no compelling reason to particularly seriously invest in such projects. this is my opinion.

It hurts the crypto world. It only benefits those who invested for shorter term gains and those who exit scam on the project.
Those shitcoins are a general word for those coins that are just for the pumping purposes only to be dumped in the end losing its value.
I kind of see it as no longer an issue, as they're many of them already here in crypto space.

Naaah, they dont hurt cryptocurrency world, they hurt only those who accidentally have bought these shitcoins at ATH. But they improve the value of top altcoins and Bitcoins. They are like CocaKola in the world of beverages. Once you taste, you realise that Coca Cola (or Bitcoin/Ethereum/BNB and others) is way more better than this fizzy crap.

What is happening with meme tokens that are considered to be shitcoins can be similar to the many ICOs that were introduced in 2017 and early 2018. I can only say that 99% of these new projects which usually happen in the Binance Smart Chain will just die a natural death, and they can be gone some months from today...that is why it is quite risky to be involved with them. It would be so difficult to determine which of these shitcoin can proceed to be a serious and solid platform...but for anyone that has a good taste with risks and rewards then they can be a good exposure.

Even very old good altcoins don't release the maximum supply in a short time or some years. I think any shit altcoins doesn't want to reveal the maximum supply and circulating supply. Big investors shouldn't invest in new altcoins. Most of the new altcoins are shit, which we will see after the bullrun season. I don't invest in high supply altcoins.

Yes we found a lots of cryptocurrencies where total supply very large amount ( trillions figure) but price very low . I already invested Shiba Inu coins and it's derivatives coins. But I am fully confused about it's price and future. Have it good future!!!

Thankfully, I haven't come across people in crypto who's belief was that shit-coins are good for the crypto community, because if I had I'd be worried about them.
There is no hell on earth that shit-coins are a benefit to crypto, these are only shilling coins on the market to take advantage of learners that don't know what they are doing and lose their money. It is all a monopoly, with no value for their existence.

But, as this crypto space is open source based and free for anyone, scammers will always attempt to suck naive investors' money by luring in the name of new projects. So, shitcoins are just part of this crypto market and if you notice everyday some new coins or tokens arrive for same repeated purposes and some newbie writes about that in this forum as well. So, we need to safeguard ourselves by making use of old lessons.

Shitcoins can be classified as a disadvantage of decentralized environment like if there is an approval authority then devs need to get permission for launching a new coins then probably we can eliminate such shitcoins before arriving itself.

I think that can attract attention from people to join in the crypto, especially if that shit coin/shit token gets a pump so high and give a big profit to people. People tend to follow that trend and try to invest in that because we already saw what happened to a previous project that can explode and invite many people to invest in that project. But many people also losing their money because they do not research to find the right project. They only follow what other people suggest and that is their mistake. The shit coin/shit token will comes in the future and we can not stop it because, in the crypto world itself, the new trend will replace the old trend.

they have upgraded . they are not called shitcoins anymore but they are now called as meme coins . having large supply is the asset of a meme coin because they are for fun anyway  .
 those that  says that meme coins or shitcoins benefit the market are lying . how can it benefit ? it only makes the people greedy and think that crypto is easy money . if they dont met their expectation and they will get scam , it destroys the reputation of all crypto

Yes, type coins like that are only for their community, but people tought they had hope that that coin will have a similar experience to "doge coin" but I believe it will be very difficult to happen because things like doge don't always happen in the market. especially with coin that have the same concept. without any other benefits for other people.

Shit coin are most time get our money back.When we invested our money in this,it will get into many dumps and get our money.The issue is we get good intension over the coin and we believe in the concept of the loss will be recovered .Then we start to buy the same coin again and again.By thinking ,the coin will give back the profit.

Shit coin just a curse for me because I already invested several coins but lastly some projects turned into shit coin which given me a lots of losses. So I never invest in shit projects without investigate.

Previously I wanted to ask you, who said it benefits the crypto world? And where is the advantage? it's very clear that it makes crypto bad in everyone's eyes because with so many sh*tcoins it makes beginners afraid to invest in crypto

People though still in hope that with this Memes pump may happen and gives them huge profits, unknowingly that all  kind/ types of project similar to this were created to generate profits for the developers.

It's better to stay away if you are not willing to lose your money, if you are a conservative type of investor, you should buy project who already have proven usages and have a good addition to this industry, progress might slow but  chances  of having passive income is very high.

I don't see any benefits from these shitcoins people are losing money and they scream shit on these shitcoins, the word shit is very bad on anything, especially on shitcoins and every investor should run away with it these shitcoins because you are just going to lose money and make you disappointed, the most important thing here is how to differentiate a shitcoin to a coin with good potential.

Most shitcoins are created for profit. Some people earn a lot money from it if lucky. Some buy during presale and sell it quickly once listed. However, this is risky it is either you earn or lose your money. Imagine coins without use case being sold in the market, most of them are running due to hype.

shitcoins is a bad thing and a lot of people get the lose. it's certainly annoying and even arguably makes the crypto world bad for the people who accept it. the number of scam projects also indicates that the crypto world must be more careful. therefore it is important for us to be able to research and choose the good coins to invest so as not to get a loss, especially if we spend a big amount of capital. be careful and be aware of shitcoins that can be detrimental.

it did.
new coins have a simillar experience to doge in terms of being a meme coin and there are some that pumped too like a doge .
meme coins can bring fun but until now the production of meme coins still continues and it does not bring fun anymore but its now becoming annoying .
 they need to stop this but it will be effective if people will ignore them .

shitcoin was a shitcoin. The name of shitcoin being labelled to the scam token and garbage tokens caused by people were seeing this as a scam token and useless token. that's why they were seeing this as a scam token dude. The fact that so many times people calling this as shittoken and when they think these tokens are good and they will not labelled it with the bad name.
Shitcoin = ngarbage token = totally useless

Nah man, no way. Shitcoins are shitcoins, you can't upgrade them, you can only dress them up different and put make up but if you wash all that surface away you are still left with shit. And the thing about shitcoins, they can look different on the outside but you can't hide the smell. Shitcoins smell like shitcoins a million miles away. Whether or not we decide to ignore the smell is another matter:)

Yes, now there are indeed many shitcoins that have been born in the crypto space, so that irritation is always there for everyone, and in current conditions, of course shitcoins are not a good choice to consider, even more suitable to be ignored or shunned before there is any regret for it.

Shitcoins are coins that gave lots of investors a false hope that they could boom in time. These coins have just wasted our time and funds as well as our efforts. Shitcoins will always be shitcoins and no better word could replace them. We should get rid of shitcoins and focus on potential coins like Bitcoin.

Whether an altcoin is a shitcoin is purely subjective, so there will be no consensus about the definition and stuff. For Bitcoin maximalist, there is only Bitcoin, and the rest is altcoin/shitcoin, it's pretty much the same. However, for me, I have to try it first. If it works and I have a good experience using the particular coin (to buy goods and services), I won't call it shitcoin.

If usages is for real then the future of such project will sure bring something good both with your investment and the services itself,
it can classify as good project that will gained support in the long run.

You need to keep yourself in-hand with assets that you are planning to use both for investment or for transactions,
same a like with Bitcoin which we already seen those usages that we are enjoying.

In the other side, shit coins mostly are those projects who obviously alluring investors with good promises to gain quick profits..

In that case I must be a Bitcoin maximalist. Out of the 10,000 plus altcoins, I would classify 98% to 99% of them as shitcoins. If a coin doesn't have unique idea, and in case it doesn't have a real life usage, then the best label for it is "shitcoin". Unfortunately, the vast majority of the circulating altcoins belong to this category. Obviously you are not going to like the truth and may call those who disagree as "Bitcoin maximalists". But the simple fact is that there are too many coins out there and almost all of them are useless and survive only on hype.

Well, I think the benefit is in enriching the creators of these tokens. Shitcoins are rarely released compared to Shittokens. It's hard to judge, but probably in the medium and long term it will do more harm than good to people, because many of them will find themselves with huge bags of tokens and won't have anyone to sell to because they will realize that these tokens have no use. The coins if they were PoW could exist an interaction at least what about the tokens? What interaction do people have with tokens?

There is actually no harm in trying to solve a problem with newer shitcoins which is on the increase as the day y goes by. I feel the challenge with most of this shit coin is their consistency o
and how long the can withstand the market because the blockchain industry is highly competitive at the moment and it takes a token with genuine projects to stand the taste of time

Yes, it's very true to pay attention to it, the currently circulating sitcoins are not a serious thing for those who invest, but that will all change in the future, because it all happens because there are many competitors in the asset market that are developing in the market. crypto market now, one of them is like DIVI.
Hope that all will be well.

This is certainly an interesting question.  Personally I think all the shitcoins out there are a bad thing, do to the fact that so many have been made with ill-intentions or go against what crypto stands for and is then misperceived in a bad way by the general public who is not so savvy when it comes to understanding cryptocurrency.  One example of that is Doge.  That shitcoin took a lot of attention away from bitcoin and other serious projects.  It's a POS coin vs a POW coin which is also garbage and is more centralized.  Ripple is another great example of a centralized shitcoin that gives a bad look to the crypto-sphere.

Shitcoin is indeed profitable when we get the right momentum when it is booming and that too only for a very short time and after that the token will be destroyed, so such tokens are not suitable for us to invest in and better for us to ignore.
except for tokens with high supply but have project innovations that are very likely to be good in the future.

All those tokens that had trillions or quadrillions of supply are just shortlived scams and doesnt last long enough. They dont have real use case even in their own community. All people see is how they can make 100x in just short period of time. so it more like a gamble than a real investment.

Of course shitcoins make the crypto world looks bad specially for those newbie who would fall victim on them.
They would think that all or most of crypto are the same shit or useless like those shitcoins.
Only those who are gaining from those shitcoin manipulations are enjoying it.
The problem whit shitcoins are they are only good while they are high but when they fall don't expect them to recover again.

Shitcoins will always be bad coins or toke.ns in the eyes of the investors. They might give you temporary profits when their prices suddenly pump but when they dump, you will also end up making huge losses.

No matter how hard we try to avoid them, it won't be possible because their number of shitcoins are always adding. There are a lot of shitcoins in the market yet none of them have the potentials for long term investments.

Yes, I totally agree about that, but all of that must be considered first with what is happening now, whether the current high DIVI in crypto market assets will damage other market assets, and whether the current high DIVI will promise is it a long term project?
It can't be turned into a belief and foresight, because it can all change in a second.

shitcoin has appeared since 2017 during the era of erc20, but because the eth fee is very expensive, that's why now shitcoin often appears on the bsc, matic, heco network etc with low fees
in my opinion shitcoin is very high risk with high profit, it can reach up to 1000x of the initial price
but most shitcoin projects are known as rugpull

Now almost everyone is trying to create a project with a token offer. For the most part, these are projects that no one needs, which not only benefit the industry as a whole, and sometimes even simply copy a project and try to pass it off as their own. One must be very careful before investing.

yes in this period new altcoins / shitcoins are appearing like mushrooms but in my opinion it is not wise to invest in them especially with this really uncertain market better to be safe and invest on the top 15 of the exchange rankings, perhaps with a little less earnings but much less risk too

I think the market was full of shit coins before, but now
new shit coins that don't even try to hide that they are shit coins are taking over the market. What's happening? The market urgently needs a cleanup.

it can be said like a token business.the profits that can be obtained are of course there but the nominal and the number of tokens are the problem. because shitcoin is not as much as we think that's where the problem is. for a big profit in a short time it is a very big risk, it is better to buy a low bitcoin even though the selling price is small. But at least we are not faced with a big risk later

Large supply isn't the best indicator of a meme coin. I think coins with no use case and no real thought process behind the coin are termed meme-coins. Any coin that doesn't add any benefit to the crypto ecosystem is technically a meme or shit coin.

Such coins do NO good whatsoever to the community and only bring bad vibes. If someone invests in these coins and loses his money, he would not blame the coin alone but would exit the market and bad-mouth about bitcoins and cryptocurrencies in general and they aren't to be blamed, it's the scam and shit coins that should be blamed.

I think this is not going to stop anytime soon because people for some reason keep pouring money into these projects and eventually the projects are going to get encouraged as long as they get money from the market.

For some people these shitcoins have given the best outcome. It means those users are lucky to make big deal out of it. I prefer investing on such coins with very small funds and hold a big volume. This is all because of the cryptomarket being a place where anything could happen. Another thing one day myself can also get lucky out of the manipulation from Elon or some powerful hodlers. Though shitcoins aren't valued it has got some value in it for such stated reason.

They aren't hiding because of what happened with Dogecoins. Earlier being labelled as a shit coin meant investors will run away from the coin but now people despite knowing and the token claiming themselves as shit/meme, will invest money into them because there is a FOMO within every investor.

Dogecoin went huge and a lot of coins followed it like SHIB and then once SHIB was gaining enough attention, there were tokens that followed closely behind it like Akita Inu and others. These token creators watch what is the current investing trend and will just follow it blindly and I think they are even being successful because lots of people are trading these coins without half of them knowing what these tokens are meant for actually.

How to stop this from spreading? We traders must strictly avoid trading these coins at all. Trust me, only the creators of these tokens are earning money at the end with these tokens.

It's safe to invest when shitcoins are high but the market is down a lot at the moment so the risk will be higher. I think it's better to invest in etherium and other altcoins than shitcoins that are in the market it is in a good position and the risk is very low.

Unlike other Altcoins, we believe it is better to invest when the market is low or has dipped like this so that you can buy more for when the price is high and make more profits but if I get you correctly, you cannot invest in shitcoins because the market is down?  ;D ;D ;D Well, I guess that's why they are called shitcoins. You only feel safe to invest in them when they are been pumped cos there is not confident that they can rise with the real coins after the market sees this type of correction.

Shitcoin has been popular for a long time, and the core of their propaganda is community autonomy. But I think this is actually another kind of greater fool theory

I have no idea. nowadays very many developers are making meme coins after seeing the price of doge going up, and making shiba inu. however, in my opinion, instead of making coins like that, developers should make tokens that are useful and able to attract people because of their functionality. however, I believe that most people see meme coins as a just coins for their own profit. Yeah, but, I don't know for sure. however, I'm more interested in looking at coins like BNB or ETH.

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.

One of these varieties can be called coin-memes, such as Doge and its various counterparts. In fact, they should disappear from circulation after a certain time, since they do not have a real product, but thanks to the support of the community or certain personalities, such as Elon Musk, they become a toy for pump&dump.

Yes, that's true because the two possibilities you mentioned have happened in the past as well as at this time, but for investors who are very experienced in the crypto space, they will always prioritize their own analysis before believing in shitcoins or new coins with very high supply.

Yes, shitcoin is the work of the crypto community whose only job is to attract the attention of investors so that they can profit through other people's losses, so that's enough reason to be ignored.

I'm not sure, does shitcoin gives benefits in crypto space?
The last time I checked, shitcoin has no value, most of the time it has no real use case and is only used to pump and dump.
The only benefit a shitcoin could give you is when you were able to ride the pump and sold everything before it crash.
Nevertheless, a shitcoin is being called a "shitcoin" for a specific reason that it's useless, just a tool for pump and dump.

Yes, the shitcoins that have been created at this time are only for a temporary life because whatever the name of the shitcoins, they will not last long and will die easily after being discarded by everyone, so it is true as you said that shitcoin is a typical project that have no real product.

I've been in several bounty campaigns and earned lots of different coins. Some are good and some are bad or have no price. I've had scam projects a few times in the past and it made me feel sad. From that I learned to follow a good bounty so that I get results. Shitcoin is such a bad thing that it can pollute the crypto world. To get rid of the scammers is also difficult, we can only avoid them.

I've discovered there are now forked bitcoins that have shifted the decimal place three zeros to the right, so for every one bitcoin you had pre fork, you now have one thousand bitcoins of whatever the forked bitcoin is called.  ( ?? bitcoinZ ?? )

Now that really is a shit coin.

Somehow shitcoins are good but seldom has a guts to pump. More of shitcoins are just for temporary hype and then will gonna fade. I saw some of them recently but didn't make to stand their diamond promises to their community in telegram, Twitter and Facebook. Most of them are just for short term hype and then vanished. If you want to invest it's up to. Be extra careful to your investment.

Yes, but for Dogecoin I don't think it's worth saying shitcoin because Dogecoin ranks well in the crypto space and Dogecoin has also been around for a long time in the crypto space, so Dogecoin doesn't pollute the crypto market, and this is despite the influence of influencers and deliberate speculation created by someone for the sake of pumping Dogecoin.

personally i called coins as shitcoin while its have no developtment progress, no utility , and the important thing is no trading volume so we could not sell it or it have low liquidity. In doge or shiba inu case , i still believe this is not shitcoin maybe i could called it as useless coins because both of them have no utility  but its still able used as speculation assets.

It really depends on the "shit coin."
Take Doge for example, it has 10k new coins added to the total supply hourly. It is a complete shit-coin. Yet, it hit approx. 70c earlier this year.
You have other meme coins that have great communities and tech, look at BANANO (hard fork from NANO).
You also need to look if the "shit coin" has function. Some might consider $BYG a shit coin but it has a function in Black Eye Galaxy as a decentralized NFT token. It could eventually make a lot of money and gains for someone.

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.

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.

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

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.

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.

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.

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.

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

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.

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.

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!

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.

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?

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.

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.

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.

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.

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.

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.

What about a new coin with a low supply that has use case?
I've been looking at $BYG for some time now. It has use in the Black Eye Galaxy game/nft game. It has some serious gains this week, but I know some of that is new. The company has a great roadmap posted and looks really fun to actually collection/play.

Imo shitcoins have become an important part of cryptocurrency industry nevertheless I would say that investing in shitcoins is like gambling so invest very carefully if you want. These days it's surprising to see that big investors are investing in shitcoins that's why we can see there are some shitcoins in cryptocurrency market with massive volume, although we must not depend on shitcoins because of its higher risks.

I entered the world of cryptocurrency since 2014
doge used to be called shitcoin but now doge is shocking cryptocurrency lovers because doge can achieve surprising ATH and provide huge profits in a short period of time
if you look at the events that have happened to doge, how do you view shitcoin today
?

The low barrier of entry into the crypto-currency market and has created a market where over 90% of the projects are very low valuable projects and their cryptocurrencies will will most likely not be successful in the long run so as a consequence of that there is so many shitcoins and that is just to show why there is need for some sort of regulation for the decetralized market to thrive. Shitcoins is every investors nightmare and no one likes to be holding bags of it

Well, Shit-coin is a shitcoin. They usually have little value or no value at all. Many-many creators made a lot of coin supply to be airdropped and each coin probably 0.0001. That's a shitcoin right there. It will only became a trash in your wallet, so there's no point holding them in your wallet  :D

We have two shitcoins in the top-10 list from Coinmarketcap (Dogecoin and Ripple), with a combined market cap of $100 billion. You may still be able to defend XRP, but what about Dogecoin? Anyone who is aware of its history will not deny the fact that Doge is a shitcoin. It was first created in 2013 by Billy Markus and Jackson Palmer, to mock the very idea about cryptocurrency. The most ironic fact about Doge is that the promoters never took their invention seriously enough. Else they would have been billionaires by now.

because of the large number of coins launched to be listed on the market, on the one hand it benefits the crypto world. but if the coin is a scam token or Shit-coin then it will harm many people, including investors who will be harmed so that investors lack confidence in digital currencies. I think this is where the loss experienced by the crypto world

With the skyrocketing of Doge coin as a Meme coin, many developers started creating theirs hence the reason many where created with even more supply you can imagine, well according to some people it is easier to pump. But however, we need no one to tell or explain to us what a shitcoin is and what it's not, anyone trying to paint a better picture of what shitcoins is all about is probably trying to shill or hype the project to people.
Also, whether large supply or not, there have been many projects with less supply which are still shitcoins, so in a way, shitcoins is not only about coins with very high supply but coins with no use case, no tangible thing from the team other than shilling in different social media channels and so on.
A coin like SOL doesn't needs shilling or hype from the team, what it offers and what the team are capable of doing is enough to create the right hype.

Tokens/coin with a number that exceeds trillions of tokens that do not have good technology and fundamentals, anonymous teams that cannot be recognized and even tokens without whitepapers, you should stay away from tokens like that, because the hype shitcoin pump and dump is over, don't let your money go away and lose.

See who is the speaker here? :)
They don't know anything about this market to make such a statement. But this person I have to give them is a paranoia rather than a grounded belief. Everything has a price for a reason, the crypto market we know shitcoin is just a small corner, take a look at this market for yourself and think about it why you like shitcoin :)

I don't think it makes crypto market looks bad. When crush is happening a lot of shitcoins are fading. There's just a lot of opportunities for everyone to start their own coin. But it should be built on something valuable and interesting and not just make profits for it's creator.

I don't see shit coins that can be benefits in crypto world maybe the behind of shit coins are, you know the scammers. Shit coins are not really good investment that's why it called "shit coin" because of pump and dump scheme, some are just memes with no project behind it and some are just created to scam people. So don't invest in shit coins, better to research the project first before to invest the coin.

I think the total supply has no effect on the quality of the coin/token, let's learn from Doge, with a total of 130 billion, but still very valuable in the crypto world and the market, it all depends on the developers how they manage the market strategy so that the demand for tokens/ coins can be stable or increasing, unfortunately they don't study harder than what the doge team has earned, so that they can follow in the doge's footsteps.

Most shitcoins are made for scams, but shitcoins are clearly part of the market. The hype generated by shitcoins helping the crypto market has attracted a lot of interest and new capital inflows. Shitcoins can make us all lose but sometimes they bring wealth to some people if they are at the forefront of new trends.
Agree!. Can't look at the total supply to judge if it is shitcoin or will become top coin. The potential of a coin/token is based on the development, effort of the development team behind coin.

But unfortunately, many investors support and invest in these shitcoins, some overlooked it believe in shills and ride on the FOMO and without looking at the potential and the usefulness of the coin in the market, they are very stubborn on the signs that are showing, all they can see are the profit that they are going to make.

Shitcoins life span is very short and many failed to get out in time, they have nothing to blame but themselves.

In my opinion, it's not bad when really worthy new projects start at a low price and then gain popularity and grow in price, for the crypto community this is only a plus, but there are tokens that really immediately by name you can see that this is a scam coin, these tokens are simply heaps of , they certainly harm the image of the cryptocurrency itself, especially for newbies who have just entered this world.

I can say that it is a good tool for fast income. But anyway it is very dangerous to try to hold them. Of course they can give you a big profit, but they are still very risky. You can lose a lot even if they are not scams, but just because of the lack of advertisement, or the bad mood of the crypto market. As for me, investing in shit coins is a lottery, so if you are tolerant of risk you can try.

Shitcoin refers to cryptocurrencies that have very little value or even no value at all. Usually, shitcoins are aimed at cryptocurrencies or altcoins that were created after the explosion in popularity of Bitcoin. In short, shitcoins are useless coins in cryptocurrency. There are already a lot of shitcoins and they only hurt. So I think shitcoins will only demonize cryptocurrencies. You have to be really careful in choosing the coins to invest because you are afraid that the coins you choose are wrong and are classified as shitcoins.

Many traders or investors consider shit-coin as a good opportunity to make quick money in the recent time we have seen many investors invest in the meme coins in hope of making quick money but truth is that hardly 1-2% of them are able to make good money otherwise most of them loose. In recent times many shit coins pump and dump also even we have seen rug pull also where mostly all the investors lose their money so we should focus on good coins rather than shit coins. These shit coins in my opinion ruining the image of the cryptos it is not good for the market I feel. Good product base coins are the future of the crypto market.

In my opinion, the tokens or coins as you mentioned earlier, we must examine the source and legality because if we invest in new tokens and coins, the risk of loss is very large.

Big part of those shit projects impacted negatively, once newcomers got victimized they will look into this venue as a whole as scam business.

Only those developers and the people behind that will earned a lot, those late comers will surely lose their money, taking
part with scam project is really a pain in the ass.

Best not to encourage this kind of project and invest alone with projects that have solid foundations.

Yes, so many kind of new tokens appear in the market and mostly end into shitcoins or unvalued coins. If this scenario repeat to happen in the crypto market this will be a bad image and maybe big investors will lose trust in cryptocurrency to there investment to put-in. Rather than focusing on those new coins why try to invest in the top10 coins which more secure at the same time stable.

I’ve been in a situation like that where I was investing in a project and I knew very well that it wasn’t legit or should I say it wasn’t going to work, But I still went ahead to invest in this project and at the end it didn’t workout.

The reason why I invested in this project is because of the same thing you have said here, I saw an early opportunity to make something from it before it’s too late. Things like this are usually a huge risk, it can work or it will not work. Luckily for me I didn’t invest much in it, I just invested a little money which I hoped I would have gained something from it.

for me, shitcoin doesn't mean it's not worth it. they have prices but not with projects that are clearly shitcoin.
they just come to take advantage of the bull market. create hype on their coin in the market and when attention is already in the market and get the price pumped. You will see them escape by selling all the tokens they have.
or maybe some coins go into our wallets but never get listed on the exchange. from our airdrops, bounties, or stupid purchases.

Usually, "shitcoin" refers to cryptocurrencies or altcoins that were created after the Bitcoin boom. A cryptocurrency or coin can lose value because the provider fails to attract investors. This could be because there was no confidence in the currency from the start or because the price of the currency was based on speculation. For some of these reasons, this currency is considered a bad investment.
Small cap cryptocurrencies may be the highest risk and highest reward form of investment. There is a high chance that you will lose all your money by investing in "shitcoins" and there is a possibility that you will make a huge profit.

Well if you happened to invest in shitcoins, it does not literally mean that its not profitable. Some are really making profits on it but only in the beginning. Eventually their value drops down easily and does not recover after a big dump. That is the reason why most of the investors stay away from it because it will only be worthless in the end.

I personally make an investment with shitcoins before because i wasn't aware at first. Good thing i have only invested a minimal amount so i did not make any regrets when it turned out that their value have gone. Well some have still good value but not listed in the exchange so still worthless in the end.

Litecoin and so forth are acceptable yet there are without a doubt numerous shitcoins and trick tokens that let the entire crypto scene down. Every one of these shitcoins make great publicity. Overall they are pointless, however they push the interest to digital currency. They are acceptable near pointer. Financial backers who need to have an easy gain without legitimate examination will consistently wind up putting resources into a shitcoin on their portfolio.

I think Shitcoin just makes crypto look bad. They appear so much, even a very large supply in the market. As a result of scams that only use crypto as a place to enrich their own team, the effect on investors who use crypto as a place of investment becomes doubtful because of the actions of fraudsters.

Shitcoins are just the bad faces of this cryptocurrency market. They contribute nothing more than helping someone make a lot of money in a very short time. Because many of them can be scam also. If you are ready to take a bigger risk, then you can try your luck in these shitcoins. Maybe you will find a really good chance but you shouldn't let greed take the control also.

We do have different impressions because there are still people who do make money out of being shit into the market which simply means people do mostly hate it but if you do know on what you are doing

then you can take risk but of course odds of losing investment is there but once you had done it right and a little bit mix of luck where a shit coin had been pumped then for sure its a nasty profits for you to make.

You shouldnt mind about those coins because it will really just divert out your attention on which you should focus more on main coins.

total supply does not determine if the token is a shit coin, because in my opinion shit coin is a token that has no project and no function that can be used in the future, so as long as the token has a function and project, then of course we can't say that token as a shit coin even though the total supply is very large.

Shitcoins are inevitable unfortunately. But if you take any other sphere of human life you will see the same picture - 80% of everything is crappy quality :)
Crypto is just not regulated properly, so the percentage here is around 95% :)

Yes, shitcoins just make the whole crypto market not appealing to everyone. But if you take time to know them well, and take the risk to invest a little amount, then you will not really totally in loss. They are still profitable but only good for short term. If you plan to hold them for long, maybe its the time that you will fall in a huge loss as shitcoins or meme coins are not made for long term investments because they eventually lose their value and will fall into trash coins.

So i don't encourage everyone to choose shitcoins, but give more time on solid and stable coins in the market if you are here for long term investments.

This is not a new issue anymore. This has been from a long time ago, there will be always that kind of shit coins
Why?
- This token or coin is very risky both for trading and investing
- Shitcoin has no string fundamentals and team
- Shitcoins may be too good to be true and this will not happen
- Listed on mostly low exchange ranks
- Has so many total supplies
- Price with very big pump and dump very quickly
This may be worthy if you know the right moment to take profits once it is pumping.
But in fact, this is very risky because we can lose our money so easily and quickly in this shit coin

Agree, the creation of shitcoins are inevitable, moreover many people are easy to be manipulated for getting instant profit by buying such that shit thing.
The developer can just copy-paste the solidity code, change it a bit and deploy it on BSC, the next step only brainwashing the investor with some bullshit words.

In my opinion, the distribution of tokens in large quantities will have no effect on the crypto world, on the contrary, that is what we must avoid because it could be a scam that has no price on the market. So I think the big token sharing is just to entice us to follow them

The main drawback of them is that they don't have anything really valuable under them like for example a project or an efficient blockchain, so everything that can keep price is just hype and support from authoritative people. Shiba has been listed on coinbase that might attract investors' attention, but I don’t think that it will return popularity to shit coins.

maybe they just followed the fomo at that time, now we see that only shiba inu and safemoon cash survive. so it will always be there and people call it shitcoin, both for now and in the future.
Shitcoin will always exist.

My own understanding about shit coin is that, when you have that kind of an altcoin that gives you no benefit at all, like if you have received a token from an airdrop that has no value at all even for almost a decade it can be a shit coin, or if you have that kind of token and already listed but impossible to trade or sell it, also a shit coin. For some instances, the ones token that is called a shitcoin could be a good coin in the future by a chance.