Question to Bitcoin maximalists: What defines a ShitCoin?

[vit05]

Maximalist just believes in Bitcoin. And it considers that many of the ideas that other coins try to implant, could be implanted in Bitcoin like second layer. Such as anonymity, smart contracts and other functions.

That is, considering this, all other projects would be shitcoins.

But I believe that today there are already projects that prove useful beyond Bitcoin. And having a cryptos ecosystem is better than just having one. So there are projects that are obviously shitcoins. Like the thousands of Bitcoin forks that only serve to enrich some people. ETH Tokens that show no innovation....

[Red-Apple]

open coinmarketcap.com and start from rank 2 and go down, you are looking at shitcoins. why? because these top coins were created for pure purpose of being pumped and dumped so that their centralized owners can make millions specially the ones that have a premine such as ETH and XRP.

but to generalize things, when you look at the code of an altcoin and you see it has absolutely nothing new compared to what came before it, that can be a very good indication of being a shitcoin.

[Ailmand]

If a coin has no value, no trading volume or not even listed in any exchange, it could be considered as shitcoin. Coins with no roadmap to follow and no active te and developer are known to be a scam or shit coin which we should try to get rid of. It's such a waste of time to focus on shitcoins. Nothing could really beat bitcoin in that case.

[kryptqnick]

Question to Bitcoin maximalists:

>> What defines a ShitCoin?

I believe that for a Bitcoin maximalists any altcoin is shitcoin, like some others mentioned. They believe only in one cryptocurrency and don't recognize accomplishments of others. I am not one of these people, so for me a shitcoin is a crypto with no special features and use cases, usually with a small community of supporters, decreasing price, availability only on small exchanges and low market capitalisation. A coin does not have to possess all of the mentioned qualities to be considered one.

[TimeBits]

What backs my money? my work, farming, making produce, (time)
What backs your money? 99% of the people it is time, they give up their time in exchange for pay
What backs gold? just like my produce it is a physical commodity

What backs the governments money?   

[mindrust]

No PoW (PoS, DAG)> centralized shitcoin
Premine/instamine > shitcoin
Masternode > centralized shit

A non-insta/premined, no masternode, PoW coin can still be a shitcoin but If it has one of those, you don't even need to make further research on it. It is 100% a shitcoin.

[arielbit]

shitcoins is a means to get more bitcoins.

[LogitechMouse]

For me, I define a shitcoin as a coin that has been listed on an exchange and some institutions continuously pumping and dumping it to gain profit. We can't prevent this to happen but we can ride on it.

Another definition for me of a shitcoin is that, they created the token or the coin for absolutely no reason. If there is a reason why it is created then it doesn't the lives of a people. I don't want to give examples anymore because many of us know some of them.

[okala]

A shitcoin can be say to be any coin/token that have no real time use and it price on the exchange dropped to 0% making it worthless and can't be use for any thing either to exchange for other currency or use on any platform for services and goods. We have so many shitcoins around and this is as a result of the various ICO scams.

[GelaiThePom]

There’s so many characteristics of a shitcoin but here are some that I know of:

-no use in the real world/no value
-no fans because nobody knows about it
-pump and dump
-no updates by the developer
-copycat of successful coins like bitcoin
-obviously a scam

I’ve been in the cryto world long enough to know what’s a shitcoin and what’s not. Actually, if you’re a bitcoin fan everything except bitcoin will look like nothing to you because bitcoin is on the top. You can use bitcoin in almost everything, Shopping, gaming, subscriptions etc.