The problem of shitcoins

[Hedda Gabler]

Problem is, even shitcoins which are honest and not scams, overpopulate the market. Market overpolation may cause crashes or loss of morale. When the market is overcrowded it is drowning, exceedingly competitive.

Quite simply there are too many coins to chose from to maintain curiosity. Even if your coin is the next best thing, people will not feel hype, because there are so many others to choose from.

This in turn devalues the value of all other coins, because people are spreading their money thin rather than putting it all in one hype coin.

[harizen]

Then devs of that honest shitcoin must do something in order to gained popularity. Market will not adjust for them. Try to make way to increase investors in the overpopulated market. There are coins that came from small but now gaining community attention because of continous development and marketing.

Attract investors so they will automatically came to a project. That's the challenge.

Investors have different preferences in choosing a coin so that will be the assignment of the devs on how to attract them.

[jrrsparkles]

Problem is, even shitcoins which are honest and not scams, overpopulate the market. Market overpolation may cause crashes or loss of morale. When the market is overcrowded it is drowning, exceedingly competitive.

Quite simply there are too many coins to chose from to maintain curiosity. Even if your coin is the next best thing, people will not feel hype, because there are so many others to choose from.

This in turn devalues the value of all other coins, because people are spreading their money thin rather than putting it all in one hype coin.

The best one will be highlighted in the crowds too so the team need to keep on working with the coin to make it successful but most of the people creating altcoins for the purpose of profits so they will left the coins undeveloped once they earned enough that is why we are afraid to invest on the shit coins.

[kevoh]

I disagree that "honest" and "shitcoin" should be used together as a positive quality. The phrase is at best an oxymoron and can never agree. Shitcoin is shitcoin. There's nothing good about shitcoins.

[sunsilk]

Problem is, even shitcoins which are honest and not scams

They won't be called as shitcoins if they are honest and not scam.

Market overpolation may cause crashes or loss of morale. When the market is overcrowded it is drowning, exceedingly competitive.

Don't problem this overpopulation of the shitcoins in the market, they are crowded right now but soon the worthy coins will remain standing in the market.

Even if your coin is the next best thing, people will not feel hype, because there are so many others to choose from.

Calling a coin the "next best/big thing" in the market is just a way to market their coins, simple as that. And every coin that claims that title are simple riding the hype from bitcoin, it's a desperate move in short.

This in turn devalues the value of all other coins, because people are spreading their money thin rather than putting it all in one hype coin.

This is why it is called as "market", there's not only one product you can buy in the market and the same goes to the crypto market.

[Hydrogen]

It is good that anyone can create their own crypto currency no matter if they're rich or poor, nor what country they come from. One of the best things about crypto are its open markets which do not discriminate or show favortism towards wealthier demographiccs.

The idea that people having this freedom is bad and should be restricted to prevent "too many shitcoins from populating markets" is not something I support. People being able to exercise this freedom is how progress is made. Yes there will be many altcoins which do not contribute much. But every once in awhile there will be someone who has a new idea or an innovation which will improve and contribute value to crypto which is how it might be able to grow and prosper under conditions where a more closed and restrictive system might stagnate and die.

Most people have no idea how many altcoins are out there, they only focus on the main coins and never delve into those more obscure areas of markets. Altcoins aren't bothering anyone unless they seek them out, and that isn't something that needs censorship nor addressing.

[lephuqui]

Then devs of that honest shitcoin must do something in order to gained popularity. Market will not adjust for them. Try to make way to increase investors in the overpopulated market. There are coins that came from small but now gaining community attention because of continous development and marketing.

Attract investors so they will automatically came to a project. That's the challenge.

Investors have different preferences in choosing a coin so that will be the assignment of the devs on how to attract them.

When the market is over. They will work together or compete with each other. But I think cooperation will be more beneficial. When the market falls, it will not affect them much.

[Potato Chips]

Problem is, even shitcoins which are honest and not scams, overpopulate the market. Market overpolation may cause crashes or loss of morale. When the market is overcrowded it is drowning, exceedingly competitive.

We are in an insanely competitive world like everything you do you, you have rivals so it'll be more weird if cryptocurrencies doesn't have any significant competition going on.
In fact it's not as bad as you think, because of it people strive to produce good results with an intention of exceeding the other and we can also see how many people are supporting/interested in this new technology.

there are too many coins to chose from to maintain curiosity. Even if your coin is the next best thing, people will not feel hype, because there are so many others to choose from.

What? So they have the ability to produce this "next best thing" but doesn't know how to promote it? LOLOLOLOL

And don't blame the devs just because you guys have too many choices to choose from. It's your job to look and to search. Now if you can't bother to do that then maybe you're not suited for it?. I do understand that it's a lot of work but please do remember that making money from an easy-going-attitude is impossible now.

This in turn devalues the value of all other coins, because people are spreading their money thin rather than putting it all in one hype coin.

It's called strategy to minimize risks. If a coin gets axed for not getting any decent volume, don't blame its rivals. The coin just lacked something essential to go higher that's it.

[rapsa2018]

There are many shitcoins that are spreading in the present day especially when ending an ico multiple tokens dumpers will sell their tokens immediately to sell it at a costly price.

[Sadlife]

That's why it's really a good practice to research first the coins you want to invest in. If it's hype, if it has a marketable token, if it's has something new to offer in other words a futuristic and innovative technology and if a big company or CEO owns it that actually exist with transparent physical investment.

[Liz D]

This is one of the bad side of unregulated cryptocurrency projects, agreed some projects are not scam but at the same time they have no purpose in the market while some are just cloning of some other project already on the market.
The effect shitcoin have in market is rather negative as people tends to see crypto has a application of technology with no trust, a ponzi to make rich quick etc.

[buwaytress]

This is one of the bad side of unregulated cryptocurrency projects, agreed some projects are not scam but at the same time they have no purpose in the market while some are just cloning of some other project already on the market.
The effect shitcoin have in market is rather negative as people tends to see crypto has a application of technology with no trust, a ponzi to make rich quick etc.

Believe me, even a regulated market will still have their fair share of scams and fraudulent projects... or have you not read the much storied past 50 years of traditional finance and banking? If anything, it is the restrictive and non-transparent nature of finance that has made it possible for centralised entities to manipulate the market and defraud investors (not to mention common people whose only mistake was to save their life savings with a bank). Every decade or so, we are reminded of the crises inflicted on entire economies thanks to all the mismanagement of regulated markets.

Bitcoin was birthed in the aftermath of our most recent global economic crisis. That's not a coincidence.

[samcrypto]

I disagree that "honest" and "shitcoin" should be used together as a positive quality. The phrase is at best an oxymoron and can never agree. Shitcoin is shitcoin. There's nothing good about shitcoins.

Precisely, shitcoins will never be a good one in the long run they will just stay in the market to collect money from uneducated traders/investors. Shitcoin really ruin the reputation of this market, and I hope they will eliminate in the future.

[richminded]

That's why it's really a good practice to research first the coins you want to invest in. If it's hype, if it has a marketable token, if it's has something new to offer in other words a futuristic and innovative technology and if a big company or CEO owns it that actually exist with transparent physical investment.

Investing really requires enough knowledge so you will not fall into a shit coins. I've heard a lot of stories being trap in shitcoins, because they didn't sold their holdings during the peak and now the price is soon to be worthless. If someone tell you to invest on that coin, don't listen to them easily even if its your friend because your money is in risk and better to trust your analysis than any other.

[nniecan001]

That's why it's really a good practice to research first the coins you want to invest in. If it's hype, if it has a marketable token, if it's has something new to offer in other words a futuristic and innovative technology and if a big company or CEO owns it that actually exist with transparent physical investment.

Investing really requires enough knowledge so you will not fall into a shit coins. I've heard a lot of stories being trap in shitcoins, because they didn't sold their holdings during the peak and now the price is soon to be worthless. If someone tell you to invest on that coin, don't listen to them easily even if its your friend because your money is in risk and better to trust your analysis than any other.

Finding a good token or alternative coins is hard, but avoiding a lot of shit coins is much harder than I thought. I need to read a lot just to know everything specially this link https://bitcointalk.org/index.php?topic=100696.0. If you want to learn enough about ponzi and shady works, better to read that first before entering the world of Crypto Investing.

[hastang]

Problem is, even shitcoins which are honest and not scams, overpopulate the market. Market overpolation may cause crashes or loss of morale. When the market is overcrowded it is drowning, exceedingly competitive.

Quite simply there are too many coins to chose from to maintain curiosity. Even if your coin is the next best thing, people will not feel hype, because there are so many others to choose from.

This in turn devalues the value of all other coins, because people are spreading their money thin rather than putting it all in one hype coin.

you got a thoughtful analysis of the situation of shitcoin and their place in the marketplace. I would say, they will just skip in the eyes of investors that's why they remain in the bottom line. With the advance forming of token/coin everyday they are just nothing and will eventually goes down.

[Moiyah]

Unfortunately, shitcoins are useless in the market. They are just a decorations to the market and gives no value at all. Simply a coin to confuse some investors and traders. Though they seem to have a good projects but they are less to look at and less to get attention. And it is true that they are just overpopulating the market which gives vague insights.

[darewaller]

Problem is, even shitcoins which are honest and not scams, overpopulate the market. Market overpolation may cause crashes or loss of morale. When the market is overcrowded it is drowning, exceedingly competitive.

Quite simply there are too many coins to chose from to maintain curiosity. Even if your coin is the next best thing, people will not feel hype, because there are so many others to choose from.

This in turn devalues the value of all other coins, because people are spreading their money thin rather than putting it all in one hype coin.

I can’t stop laughing, it’s been a long time since I last saw anyone in this forum mention shitcoins😁😁of course, some of them are not scam, the problem is that the competition is too much and those of them that are not able to withstand the weight will just end, leading to lots of investors losing their money. So not all of them are scam, they close down due to the competition. There are lots of them, so it’s not any close to being easy.

[jiop111]

Too many shitcoins are in the market and they have cheated a lot of investors' money. When bitcoin begins to fall, all shitcoins will die. Only valuable coins can survive.