Question to Bitcoin maximalists: What defines a ShitCoin?

[helmuc]

Question to Bitcoin maximalists:

>> What defines a ShitCoin?

[mk4]

Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:

1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)

[helmuc]

Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:

1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)

Dentacoin .. great sample, tx

[CryptoBry]

Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:

1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)

And I fully agree. Shitcoins are there just to make things cloudy and shitcoin developers are existing or doing their things for the sake of getting money or remunerations as their contributions are not needed that much. Shitcoins who are scams are usually victimizing innocent people -- people who just desire to get something of what they investing. We have to be careful with any project that we go with...as many of them are just shitcoins masquerading as the next big thing in the world of cryptocurrency. Beware!

[darklus123]

Can't consider myself as a maximalist but obviously shitcoin doesn't have the following characteristics

 - No diehard supporters.
 - No value
 - No one cares

All new coins that has no die hard supporters, no value and there would be no one who cares are all considered a shitcoin. Unless it can prove its worth

[btc_angela]

1. Pump-and-dump. A coin that once listed on a exchange, you will see price fluctuations.
2. Dev suddenly left the project itself, no updates whatsoever after they have released it. And then complain when the shitcoin will be de-listed by an exchange.
3. No real life usage, just a copy cat of previous successful projects.

[Herbert2020]

Question to Bitcoin maximalists:

there is no such thing as "bitcoin maximalist". this is a term used by altcoin pumpers who wanted to say their useless coin is best and brand anybody who said otherwise as a "bitcoin maximalist" to prove their coin is good and get it pumped up.

>> What defines a ShitCoin?

- uselessness
- lack of innovation
- copied code
- flaws
- centralization while claiming to be decentralized
- general lies they tell to pump the coin

basically when you see a project that has copied almost all of its code from another project that means the said project is in fact a shitcoin.

[joeperry]

If you're going to take a look in the Announcement (Altcoins) there's a lot of shitcoin around there, we all have our own definitions of shitcoin and here's mine:
- No Application to real world
- No exact solution to the existing problem
- Same concept with existing successful project
- No use just listed on exchange
- No platform to use the project
- Fake volume
- Listed on shit exchange
- Pumps and Dumps
- Poor development of project

For me here's just some of what defines a shitcoin that comes to my mind right now but definitely there's a lot of descriptions/words that can describe it more.

[funchiestz]

There are some words loved by the community. And shitcoin is one of them. A lot of friends will make their own shitcoin definitions. But I have a problem with that word.

Usually in this forum and in the community, the word shitcoin is used for coins that people don't like. For example, XVG is shitcoin for some but the opportunity to invest for the other part. Same as TRX, DOGE ... etc.

Shitcoin, as far as I know, is called coins created for price manipulation without any purpose. Yobit, Cryptopia, and many more have hundreds of these shitcoins on the platform. I think you should be careful when using the definition of shitcoin. It can guide people's investment decisions.

[Kakmakr]

My definition of a Shitcoin can basically be explained by getting into the mind of the developer or developers behind these coins. You get some people who just decide to create a coin for the wrong reasons, like making a quick profit <also called Pump n Dump coins> or coins for experimental purposes <no actual use case> or simply a coin that was just developed for the fun of it. 

Dig a little bit deeper into the Whitepaper of these coins and you will see that it was basically a "Copy & Paste" of previous Alt coin code with no significant changes or innovation being introduced. 

[Genemind]

Shitcoins are worthless coins. It's frustrating when a certain coin end up with being a non valued one. These are coins from scam projects wthich bounty hunters are trying to get rid of. Some dumping instances also results a coin to decrease its value and doesn't recover anymore.  

[nauane]

Question to Bitcoin maximalists:

>> What defines a ShitCoin?

Any coin which is develop for the only purpose of collecting money is a shit coin. There are way to many shitcoins in the market these days. Many coins you will see are priced much higher in ICO but when they come on exchanges they are dumped by the team as well, because the only purpose is to collect money from them and get profit.

[Haunebu]

Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:

1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)

Lol. A coin for dentists? What is next? A coin for chickens - Chickencoin? In my opinion, majority of the cryptocurrencies are basically shitcoins while only a few are legitimate.

So many shitcoins died after the 2017 rally thanks to the prolonged bear market, but more were created to replace them. Its basically a never ending cycle.

[Beerwizzard]

Question to Bitcoin maximalists:

>> What defines a ShitCoin?

Everything what is not a Bitcoin lol.
If you see that devs of the project claim that their coin will be a new BTC because they have lower fees, faster transaction speed, better community and its price is currently undervalued so it should cost 10 times more so that's a shitcoin.
There is also a small shitcoin test. Their devs always like to say some loud words. So if you open their whitepaper, press ctrl+f and search for words like "revolutionize" and other loud words. If you found those words then congrats, that's a shitcoin.

[mu_enrico]

IMO:
1. Tokens (ERC-20 or equal);
2. ICOs;
3. POS coins (except for dApps platform); and
4. Forks without purpose.

Well, that pretty much leaves only Bitcoin as a sole legit cryptocurrency
However, I admit I still own some of the shitcoins for collection.

[dothebeats]

I don't consider myself as a maximalist though I have my own opinion regarding shitcoins. For me, these are coins that are not well thought out. No definite road map defining the whole project, just a bunch of plans and promises written on thin air. Coding is bad, almost copied directly from another coin with a few alterations. Client is somewhat rushed, and lastly, a team of devs more concerned about getting their coins on exchanges rather than bringing something new and useful to the playing field.

[pey]

Not a bitcoin maximalist per se(though a huge majority is BTC), a shitcoin is simply a coin/token that is either:

1. Unnecessary: A perfect example would be Dentacoin. A coin for dentists? wtf?
2. A scam or a pump & dump: No explanation needed honestly. e.g. Verge(XVG)

Agree, and those coins for cannabis etc. Many rebranded old coins are also shit coins. I hold very little Bitcoin but I am closer to mentality of Bitcoin maximalists

[Jating]

Obviously, all will be shitcoins if you are a Bitcoin maximalist. 

But it looks like most of the members have enumerated by defines a shitcoin. Those are called shitcoins when they promise big in the beginning, but can't even delivered in the end and suddenly die down because investors totally forget them.

[TimeBits]

Question to Bitcoin maximalists:

>> What defines a ShitCoin?

I am not a bitcoin mamimalist, I am a human fighting for what is right for my kind, banker and worker alike.

What defines a ShitCoin?

HERE IS A FULL LIST OF THEM https://coinmarketcap.com/ and https://en.wikipedia.org/wiki/List_of_circulating_currencies

A coin no backed by anything, someone else's money supply, Scam, Devs leaving without saying anything, false promises, Coins that do not fulfill there road maps, forks with no innovation going into them, unfairly distributed coins (mining,ico alike), tether, coins that are not backed by real goods *cough fiat cough bitcoin* to give them their worth, I mean you are trading fiat for fiat. Another mans money supply not backed by anything, you give up your time and your work for their supply, unlimited or not.

So I do consider bitcoin to be a shitcoin, it is some else's shit you trade your work and time for. Just like Fiat.

Urocoin, it was literally a coin based around having a physical commodity urea a.k.a fertilizer (piss) to back up the supply, each 1000 urocoin you held I think you got like 1000 liters of urea or something along those terms is what the company claimed, since the pump and dump, there has been no dev action, bohan and his buddy there both should be in jail.

In essence physical backed commodity tokens will actually be the future people as we move into becoming a resource biased economy and species really believed in this idea and if there actually was a company backing their physical goods with tokens (like a real stock market) it is a pure market. I know how to make it work when it comes to Land, Food and Gold and other none fiat currencies, But this one just took a piss on everyone other than me Tongue I turned like .3 bitcoin into 10 in a matter of seconds.

sorry this was a PissCoin not a shit one, not only were you trading fiat for piss, all the investors got a golden shower.  Grin

Here is the ann https://bitcointalk.org/index.php?topic=600639.0

Another example of a "shitcoin" is a coin that produces "waste material" and "waste material" is also literally known as "shit"
https://youtu.be/K8kua5B5K3I?t=285

There is three formulas I have thought of thus far
1. we use time a as a medium of exchange https://www.youtube.com/watch?v=Y7TLFyK_3Pk
2. we each make our own coin  https://www.youtube.com/watch?v=bowyBKPt15U
3. we back each resource with its own coin  (gold coin that can actually be backed without any fraction reserve banking, people can go and see it in your glass vaults, oil coin, etc this is probably that hardest one to implement and leads to the case I point out in the first video about limited supplies)

go ahead solve the equation.

[TimeBits]

Question to Bitcoin maximalists:

>> What defines a ShitCoin?

I am not a bitcoin mamimalist, I am a human fighting for what is right for my kind, banker and worker alike.

What defines a ShitCoin?

HERE IS A FULL LIST OF THEM https://coinmarketcap.com/ and https://en.wikipedia.org/wiki/List_of_circulating_currencies

A coin no backed by anything, someone else's money supply, Scam, Devs leaving without saying anything, false promises, Coins that do not fulfill there road maps, forks with no innovation going into them, unfairly distributed coins (mining,ico alike), tether, coins that are not backed by real goods *cough fiat cough bitcoin* to give them their worth, I mean you are trading fiat for fiat. Another mans money supply not backed by anything, you give up your time and your work for their supply, unlimited or not.

So I do consider bitcoin to be a shitcoin, it is some else's shit you trade your work and time for. Just like Fiat.

Urocoin, it was literally a coin based around having a physical commodity urea a.k.a fertilizer (piss) to back up the supply, each 1000 urocoin you held I think you got like 1000 liters of urea or something along those terms is what the company claimed, since the pump and dump, there has been no dev action, bohan and his buddy there both should be in jail.

In essence physical backed commodity tokens will actually be the future people as we move into becoming a resource biased economy and species really believed in this idea and if there actually was a company backing their physical goods with tokens (like a real stock market) it is a pure market. I know how to make it work when it comes to Land, Food and Gold and other none fiat currencies, But this one just took a piss on everyone other than me Tongue I turned like .3 bitcoin into 10 in a matter of seconds.

sorry this was a PissCoin not a shit one, not only were you trading fiat for piss, all the investors got a golden shower.  Grin

Here is the ann https://bitcointalk.org/index.php?topic=600639.0

Another example of a "shitcoin" is a coin that produces "waste material" and "waste material" is also literally known as "shit"
https://youtu.be/K8kua5B5K3I?t=285

There is three formulas I have thought of thus far
1. we use time a as a medium of exchange https://www.youtube.com/watch?v=Y7TLFyK_3Pk
2. we each make our own coin  https://www.youtube.com/watch?v=bowyBKPt15U
3. we back each resource with its own coin  (gold coin that can actually be backed without any fraction reserve banking, people can go and see it in your glass vaults, oil coin, etc this is probably that hardest one to implement and leads to the case I point out in the first video about limited supplies)

go ahead solve the equation.

Granted bitcoin stops the unlimited printing of the free press and is why I got interested in it, but when unlimited fiat can buy all the bitcoin it`s a illusion of freedom.