Determining A ShitCoin

[aencarnaci]

Apart from the team scrutinizing and the whitepaper as you mentioned, availability of a minimum viable product as well as business solution is something you really want to be checking out first.

In fact, personally, whitepaper is usually the last thing i check. Basically, I visit the website, look at the team, check their LinkedIn profile page as I believe in this jet age, there is actually no excuse for a well-informed team and experienced one not to have a LinkedIn profile page over the years, and with this I check their past experience, dig further on them if they are for real, contact some of them if I could, ask questions on their ANN and social media pages, and then from there I look if there is an MVP.

As long as the team is serious and ready for business, there should always be a MVP before I even start considering going through the whitepaper for business solutions.

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[Cnut237]

The biggest indicator for me is if the project doesn't seem to meet any real-world need. This is sometimes easy to spot if their website and documentation is just meaningless buzzword-soup.

[Smokey23]

The biggest indicator for me is if the project doesn't seem to meet any real-world need. This is sometimes easy to spot if their website and documentation is just meaningless buzzword-soup.

Seems like the case for 99% of so called "projects" these days.

[consideritdone]

To determine shitcoins
Is to look at all angle of a coin
I think the chart here https://www.coingecko.com/en will surely can help

[lalabotax]

We already know that in the world of cryptocurrency we have valuable projects and platforms and at the same time as if existing in the parallel but intertwined universe are the shitcoins and there are many of them in the market today and more can be coming up soon. A shitcoin refers to a worthless project using cryptocurrency platform that is put up just for the sake of making money and nothing more. Of course, there are many types and forms of a shitcoin...and sometime determining one can be difficult that's why many innocent investors get victimized and can be victimized with their hard-earned money.

Aside from the usual reading of the WhitePaper and the scrutiny of the team behind if they are real or not...what other things do you use to see if one project has the potential to just be another shitcoin?

I agree with you, there are many shitcoins that arrive every month, even some ico have no background in technology or those related to crypto. that's where we find out and if it doesn't scam it means it will become a new shitcoin.

[Primus Pilus]

I decided to read this post because I wanted to see what other people really thought about crypto projects these days.

I for one distinguish early on whether a coin is legit or 'shitcoin' these days from the initial review, But what saddens me and makes me second guess my self is how these 'shitcoins' can somehow survive, then become semi valuable on exchanges. I always see coins with no real world use earn a real value and I am sometimes scratching my head on how people think this project is going to become something in the crypto space.

[leea-1334]

We already know that in the world of cryptocurrency we have valuable projects and platforms and at the same time as if existing in the parallel but intertwined universe are the shitcoins and there are many of them in the market today and more can be coming up soon. A shitcoin refers to a worthless project using cryptocurrency platform that is put up just for the sake of making money and nothing more. Of course, there are many types and forms of a shitcoin...and sometime determining one can be difficult that's why many innocent investors get victimized and can be victimized with their hard-earned money.

Aside from the usual reading of the WhitePaper and the scrutiny of the team behind if they are real or not...what other things do you use to see if one project has the potential to just be another shitcoin?

Actually, many of them is a small understatement. The big majority of coins are shitcoins. If we believe the research that says 80% of ICOs are scams, then only 1 in 5 are not scams, and I bet you,,, half of those are shitcoins, so that leaves us with 90% scams and shitcoins.

The problem is that Shitcoins do not always have easily identifiable criteria. I mean,,, if they did, I would not have been cheated so many times last year

[ecnalubma]

Also most shitcoins are often free, no ICO, no use, they feed it up with hype and once they hit on shit exchanges and pumped people who invested are in deep trouble. Everyone should do thorough research before investing their hard earned money in any coin or token, but as matter fact a lot shitcoin are on cmc right now so beware.

[CowboyX]

I use a very simple method to analyze rating agencies. There, people who are already competent in this matter analyzed the projects and gave an assessment

[suzanne5223]

We already know that in the world of cryptocurrency we have valuable projects and platforms and at the same time as if existing in the parallel but intertwined universe are the shitcoins and there are many of them in the market today and more can be coming up soon. A shitcoin refers to a worthless project using cryptocurrency platform that is put up just for the sake of making money and nothing more. Of course, there are many types and forms of a shitcoin...and sometime determining one can be difficult that's why many innocent investors get victimized and can be victimized with their hard-earned money.

Aside from the usual reading of the WhitePaper and the scrutiny of the team behind if they are real or not...what other things do you use to see if one project has the potential to just be another shitcoin?

Like you said it hard some time to detect shitcoins or projects and aside of reading the roadmap, white paper and doing some scrutiny of the involved. What I also watch out for is the traveling of the team to summit, the community support they had and the utility of their project. However, you could also find some answer on this thread https://bitcointalk.org/index.php?topic=5004397.0

[Lanatsa]

All of these factors that they were talking are the important and basics such as the team, WP, essence of their tokens, could it be useful in the long run etc... you should read all of these OP and list everything so you will have a lot of information and preferences in the future. Most of these who doesn't fit in the category are always a shitcoin.

[Kolder]

All of these factors that they were talking are the important and basics such as the team, WP, essence of their tokens, could it be useful in the long run etc... you should read all of these OP and list everything so you will have a lot of information and preferences in the future. Most of these who doesn't fit in the category are always a shitcoin.

For easy checking too is if there is a product. Most of the time there are coins that are too good in hype and forgets the product development.

[cryptonx]

We already know that in the world of cryptocurrency we have valuable projects and platforms and at the same time as if existing in the parallel but intertwined universe are the shitcoins and there are many of them in the market today and more can be coming up soon. A shitcoin refers to a worthless project using cryptocurrency platform that is put up just for the sake of making money and nothing more. Of course, there are many types and forms of a shitcoin...and sometime determining one can be difficult that's why many innocent investors get victimized and can be victimized with their hard-earned money.

Aside from the usual reading of the WhitePaper and the scrutiny of the team behind if they are real or not...what other things do you use to see if one project has the potential to just be another shitcoin?

don't forget to read their roadmap
its important to see the progress from the coin,,
if the team seriously develop the project, i believe thats is a big sign if the project is not a shitcooin project my friend

[inanilujimi]

in my opinion shitcoin is a coin that is not attractive to investors and there is no real development of the coin.
What's more, Shitcoin will be very difficult to enter into a good exchange and only registered in small exchanges.

[Gershonxer]

1. Projects that promises very high returns on investment is a shitcoin. Eg. Our long lost bro BITCONNECT. May you rest in peace.
2. Projects that tend to postpone their roadmap, canceling events are shitcoins
3. Team owning a majority of the tokens which can be dumped on investors.
4. Zero % token use case. Sometimes I wonder why some projects need a token?
5. Poor white paper with too much typo errors, no vivid explanation of project and fake background of team members

[rickadone]

You can answer a simple question to determine a shitcoin:

Q: Is your coin Bitcoin?

A: Yes
Result: Not a shitcoin!!

A: Yes, its Bitcoin Cash.
R: SHITCOIN!

A: Yes, its Bitcoin (ABC, XYX, Private, insert your preference here).
R: SHITCOIN!

A: No.
R: SHITCOIN!

Very funny and honestly if we really want to look at it in a way that most altcoins are actually just there for nothing and most of them are just clones of bitcoin trying to prove nothing or promising a better currency than bitcoin or just some tokens that really does not even have any real life usage or possibility of any development or product that will bring in demand for it, on a large scale, we can just simply classify most altcoins as shit coins, with just some very few exceptions that are even still questionable.

Tom Lee once said something, make sure you are holding at least 1btc, and afterwards, you can decide to buy any shit coin you want to buy. That is one crazy message.

[EastSound]

for me before investing on an ICO i always check if the team handling it has a good history and experience on handling successful ICO, i always see to it that their whitepaper is good and feasible.

[muncuss]

"All altcoins is shitcoin because cloning bitcoin", said bitcoin hardcore fanatics, and more funny, "x coin is shitcoin because people say so" 
Many people call shitcoin just because they hate it, even if they can see in front of their eyes that coin already have real huge development

[SlimShadyMmp]

Mostly I think is inconsistent wp and no or just terrible team members The thing is you have to know where the project is heading to determine how effective its going to be

[Dragonrage201]

Check the ICO ratings on multiple web sites as a starting filter. After that, check team, advisors and investors quality, social media following  and project fundamentals. Low marks on most of these metrics should indicate another shitcoin.