[2019-08-01] Crypto Exchange Launches ‘Shitcoin Futures Index'

[mich]

https://www.coindesk.com/crypto-exchange-launches-shitcoin-futures-index-offering-new-way-to-short-alts?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20


Crypto derivatives platform FTX has perhaps the most speculative and oddly-named futures index fund on the market: SHIT-PERP, or the Shitcoin Index Perpetual Futures.

An index of 58 low market cap coins, SHIT-PERP includes projects like Waves, Grin, and Nano. It is flanked by two other low-cap indexes on the site, MID-PERP and ALT-PERP.

[joelsamuya]

This is actually very interesting to watch if there can be a good market for this index on shitcoins. I am really curious on the digital assets they gonna include in the index...because in effect they are categorizing the assets as just shitcoins but still there is that potential to make some money out of them. Good luck to the index, anyway.

[Slow death]

An index of 58 low market cap coins, SHIT-PERP includes projects like Waves, Grin, and Nano. It is flanked by two other low-cap indexes on the site, MID-PERP and ALT-PERP.[/i]

 

why are they including grin on this list of shitcoins? it seems to me that Grin is not a shitcoin

[ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.

seems to me to be a good project

Waves is a project that  years ago I liked, but failed to stand out in this very competitive market

[1Referee]

why are they including grin on this list of shitcoins? it seems to me that Grin is not a shitcoin

[ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.

seems to me to be a good project

It's very likely related to how it doesn't look to be a serious project, especially with its name being Grin and the logo being a lousy emoticon.

Another aspect people dislike about it is its inflation rate, which is 60 GRIN per minute and it will be like this for ever as long as this rule doesn't get forked out. It's admittedly a lot, but the good thing is that it will allow the coin to have a sustainable mining ecosystem with consistent block rewards, unlike Bitcoin where the fees will eventually have to pay for the security.

Do I think it's a shitcoin? I'm on the fence about it, but I can see why people do consider it a shitcoin.