How To Spot a Shitcoin?

[-Multivitamina-]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

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[pixie85]

I'll quote some things from the article.

Let's roast XRP

If the source code is closed, it usually means that the developers have something to hide.
✓

Is the major portion of the money supply in the hands of the original company or a handful of people?
✓


Highly dependable on a small circle of well-known developers who work in the same third party company?
It’s either a garbage altcoin or a highly centralized one. The perfect situation is when all the developers are independent because this lowers the chances of any conflicts of interest. When the majority of some coin developers are the members of a third-party company, they might have the desire to alter the development to achieve personal profit.
✓


Does the CEO have trouble with the SEC, CFTC, or another financial regulator?
https://cryptobriefing.com/ripples-xrp-still-risk-securities-classification/
https://www.coinspeaker.com/ripple-sec/
✓

So is it a shitcoin?

[cytpoway121]

When it comes to spotting a shit coin it is quite complicated.

Some investors like to invest on shit coin, they get in soon at very cheap rate, wait for full launch n small hype, then boom they dump and walk away before it crashes.

It takes great courage, good research skills to maintain that stance

[olumyd]

When it comes to spotting a shit coin it is quite complicated.

Some investors like to invest on shit coin, they get in soon at very cheap rate, wait for full launch n small hype, then boom they dump and walk away before it crashes.

It takes great courage, good research skills to maintain that stance

Still, that's a ridiculous risk when you consider that you could definitely lose it all someday. It's better to hold Bitcoin and be at the mercy of its extreme volatility, than play games with shitcoins.

[joeperry]

We have different ways (maybe our own ways) to spot a shitcoin or probably a shit project, in my case I usually check these things:
• Working platform
• Check in details how the project really works through whitepaper
• Project Updates
• Volume
• Uniqueness of the project and if its applicable to the industry
• Legal Papers
• Uniqueness of the project
• Background of the team

well these are some of the things I usually check in order to spot a useless project. There's a lot of these projects that you can find here in the forum itself just go to the announcement section or look for a bounty and check their project.

[Nadziratel]

I have not been able to solve this issue for many years. Everyone identifies shitcoin for some coins. I have seen people calling shit coins even for ETH. It is not easy to clarify this issue. Some just need to be disappointed to make a Shitcoin identification. If he couldn't get what he wanted from a project, he could easily call it shitcoin.

I wish there was a decentralized platform that made reliable and accurate reviews on this issue. But it is not seems possible.

[CoinCode_sh]

The best way is finding out the "Red flags" for example:

• The Code is open source?
• The Code is "real" or is another copy/paste coin?
• Does the company behind the coin really exist?
• Is the project plausibly achievable?

[Sebas.tian]

Basically, this will depend individuals because, they may have different ways to get ideas of how its possible to spot out shitcoins among potential coins. Personally, whenever a project has not workable products then, its probably a shitcoin in the community. Also, if the project has no existing product before creation, the project is a shitcoin. The teams behind any project should be visible to all for accessibility, secret team behind any project can be a shitcoin after creation.

[tippytoes]

The best way is finding out the "Red flags" for example:

• The Code is open source?
• The Code is "real" or is another copy/paste coin?
• Does the company behind the coin really exist?
• Is the project plausibly achievable?

I believe one of the important things to check is the authenticity of the company? Because if they are not legally registered to any jurisdiction, they can disappear anytime they want along with the money they grab from naive investors. And also, your last item - project being achievable. There are countless projects presenting their novel ideas but it stops from there. They are basically selling the idea because they can't implement it in actual terms. Look for actual app or product with real active users. Because without its users, the platform will end up in trading only and so will have a short lifespan in crypto.

[CoinCode_sh]

I believe one of the important things to check is the authenticity of the company? Because if they are not legally registered to any jurisdiction, they can disappear anytime they want along with the money they grab from naive investors. And also, your last item - project being achievable. There are countless projects presenting their novel ideas but it stops from there. They are basically selling the idea because they can't implement it in actual terms. Look for actual app or product with real active users. Because without its users, the platform will end up in trading only and so will have a short lifespan in crypto.

Exactly! Very often the question of the feasibility of the project is not considered (i.e. in two hours we will go to the moon, book the place now!) and unfortunately many person of them fall into a trap.

Add a new red flag:

• Pre-mine
• Check out the "Rich Wallet Distribution"
• Check out the git commit activity. Mostly "copied coin" don't touch the code for months after ICOs/ANN

[Rengga Jati]

-snip-
• Background of the team
-snip-

For me, this one should be put in the first place (top priority). Because in many cases, the quality of the team is the main factor to determine the sustainability of the project. Many projects looked like trusted enough at the beginning, but the team members suddenly leave and disappear when the projects can reach softcaps/hardcaps. In this case, the information of the team members becomes a very crucial thing. So, before analyzing the whitepaper or other things, do deep research on the information of each profile of the team members. If one/some of the team members are suspected as serial scammers or seems fake person there, simply ignore (avoid) to join the project.

[shinratensei_]

When it comes to spotting a shit coin it is quite complicated.

Some investors like to invest on shit coin, they get in soon at very cheap rate, wait for full launch n small hype, then boom they dump and walk away before it crashes.

It takes great courage, good research skills to maintain that stance

It will be very complicated to spot the scam project that camouflages into the legit project. This kind of project will always become an exit scam project when it was on the development progress.
Shitcoin will always have a very big gap value between book order and sell order. They are choosing it caused by they don't need to use a lot of money to pump it and even just with a few dollars have already enough to pump it to get more than 100% increase instantly.
To spot the scam project is not so difficult as long as you can identify all of the photos used by the scam project whether it has stolen from another source or not. The scam project will never be a transparent project.
Some points may enough to identify if that was a scam project or no.

[hatshepsut93]

If you are afraid of shitcoins, then stay away from alts, there's not a single coin that is guaranteed to have good long-term growth, and they all still depend on Bitcoin - without Bitcoin leading the way, there won't be any big movement for alts. Just put your money in Bitcoin, it's already an investment with fantastic potential, why be greedy and chase even bigger gains and put yourself in additional risks?

Just learn more about the fundamentals - cryptography, networks, electronic communications - then you will be able to judge coins yourself.

[isaac_clarke22]

If you are afraid of shitcoins, then stay away from alts, there's not a single coin that is guaranteed to have good long-term growth, and they all still depend on Bitcoin - without Bitcoin leading the way, there won't be any big movement for alts. Just put your money in Bitcoin, it's already an investment with fantastic potential, why be greedy and chase even bigger gains and put yourself in additional risks?

Just learn more about the fundamentals - cryptography, networks, electronic communications - then you will be able to judge coins yourself.

That's why these alts are meant to be day traded most of the time. It just pumps and plummets at the same time in the day. It is either breakeven or a loss for long-term hodlers.
Bitcoin is always the best way to go.

[bgaf]

When it comes to spotting shitcoin, I think its way easier to do a full blown background check first such as:

• Team profile and authencity
• Project objective such as usefulness in the real world
• Any funds to develop the project or if not, do they have partners and legit joint venture to expand the project OP
• Fundamental aspect whether the team has any plans and if these plans have been pursue
• token metric and economic usage of it.
• Liquidity and community support

There is a lot of things to consider and some can add to these list I added. More or less, the project can be identify as shit if those abovementioned weren't on place.

[Jating]

Basically it boils down on the team behind. Using fake stock images, plagiarised white-paper, shitty websites then unlimited supply of tokens, or at least the token supply is into the billions.

And then once they are listed on some mid to shitty exchanges, prone to manipulation and wash trading and pump and dump schemes.

[gwaposakon]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

I would also on how the project and developers answer their investors and supporters in their social media sites and support chat. Legit projects and their crypto normally make it their responsibility to answer inquiries and questions of their users. As long as supporters get updates about the development of the project, I mean real person and not bots, I think the project is ok.

[kambaralikhan]

The idea of the project is everything. Investors tend to invest in those projects who has commercial value and which leads to mass adoption and the team behind the project, I think any coin who doesn't possess these characteristics proves as a shitcoin in the end.

[bassbity]

Basically it boils down on the team behind. Using fake stock images, plagiarised white-paper, shitty websites then unlimited supply of tokens, or at least the token supply is into the billions.

And then once they are listed on some mid to shitty exchanges, prone to manipulation and wash trading and pump and dump schemes.

Difficult to prove the project to be shitcoin sometimes we get stuck in that, so from we have to look from the background of the project, of course it will be one to see how it will develop, but there are also many successful projects that continue to enter the exchange with low, then that too will be vulnerable to shitcoin.
Therefore I will see from the side of the project when it is running and I used to continue to monitor how it is progressing.
So it's hard for me to see shitcoin that has been exchanged.

[nancy]

These are good points but the main one - use cases.
Without any usecases coin is useful only for speculation

[timmmers]

There are so many factors and each one is very important. Even you have a good product, listing but no one is really using it, then your coin is pretty useless. This is very frequent in cryptocurrencies, new altcoins come with technically better solution, but they do not have user base because developers and users will not migrate to a new platform whenever is created. So, in my opinion Ethereum will not loose its position because it would cost a lot of energy and money to use new smart-contract platform.

[makishart]

These are good points but the main one - use cases.
Without any usecases coin is useful only for speculation

The problem is the usecase can't be determine when you are on the development phase. This has already proven as inaccurate to determine the scam project from the usecase. Not all of the projects are creating prototype and this must be changed. Another thing just like community, advisor much more important.

[darewaller]

There always needs some great research behind spotting a Shitcoin. There really are thousands of coins circulating in the markets and hundreds of coins might be launched each week by several ICO/IEO projects among which 50% would end up being a shitcoin.

I mostly compare the product behind any project to predict the potential of the coin so that I do not end up on any Shitcoin. There are few coins which recently launched having major ROI and investing in such coins would perhaps turn out to be profitable and this is what keeps the investors close to the newly launched coins. But, I'd prefer newbies to stay away from the ICO/IEO markets in order to be safe from those shitcoins because being new to the markets, it might get challenging to spot a shitcoin.

[jessyj48]

Shitcoins consists of different red flags that can only be spotted if you know how to do better research on them, here are few red flags I know of
1. Repetitive ideas
2. plagiarism, website designs or copied white paper
3. Very shady team, if you ask too much question you will become a threat
4. They like listing on lowest, cheapest exchange as possible

[DarkDays]

"Was the code stolen from elsewhere?"

How about providing some details about how you would go about checking this...

The title of your post is "How To Spot a Shitcoin?" and yet most of your post actually doesn't say how to spot anything at all.

Beyond this, I'd also say you've forgotten to include one rather large indicator to your opinion piece—lack of experience.

A huge number of projects (mostly backed by ICOs/IEOs) are launched by an executive team with little to no business experience or accolades. To think these individuals know how to run a company, market and onboard clients with no experience is a complete joke, but noobs still fall for it because of a few flashy images and a whitepaper, lol.

[btcdie]

The most often I see "scammer or shitcoin" is a project that still uses other people's blockchain networks (such as ERC20, TRC20, etc.) today which is called a token, with this all scammers are easier. more review is needed to identify whether the adoption is real or legitimate. average potential project is to build its own "mainnet" blockchain, but it needs to be considered as well because some of them are not infrequently professional con artists. and also stay away from projects that smell ponzi. actually the easiest thing is to review it in person and meet while drinking coffee with the team, if you are a big investor. don't trust someone on the internet too much, stay alert and be careful with your money.

[redsun114]

Easily the lack of proper white paper and website. If you check all the horrible coins, most of them do not have a proper looking website with all the information required, almost all of them have one of those designer websites that "looks good" to people and that's it, marketing is highlighted and its just using a lot of neuro marketing to make you keep funding them.

If you however pick a coin that is proper, you will see that it speaks for itself in the whitepaper and all the roadmaps they have to reach those levels, that at least shows that coin itself is actually cool, when you have a blockchain and a coin that is really good, you don't need to tell people to help you out, they will literally get in line to buy more and more of that coin because its rare to find that type of coins out there.

[thisnewcoin]

Spotting shitcoin is not hard anymore, it doesn't take lots of rules or formula if you have the experience. Sometimes shitcoin's price may have bullish run, but that doesn't make them real or good. So, to spot a shitcoin, you have to see their team working system, coin's value, and use cases, website interface, partners, development progress, media coverage, and some others. If all these things go through the roadmap or perfectly then that project is good, otherwise, they are pure shit.

[Mianae]

When the team information is not displayed. When they have a scam accusations concerning team profile pictures being random online pictures. When there are numerous irreconcilable transactions from the smart contract wallet. When there's no open github source code.

[judaspriest]

When the team information is not displayed. When they have a scam accusations concerning team profile pictures being random online pictures. When there are numerous irreconcilable transactions from the smart contract wallet. When there's no open github source code.

all of that is indeed the most important thing to find out about fraud projects, one of the most important things of all is their development through Github, if they always update developments then it's not Shitcoin! trust me

[Brunus]

Well, it's very easy, since almost all altcoins are shitcoins, it is sufficient to say that - whatever the currency we are talking about - to say that it is a shitcoin, with 99% probability of guessing ...

[fullhdpixel]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

I would also on how the project and developers answer their investors and supporters in their social media sites and support chat. Legit projects and their crypto normally make it their responsibility to answer inquiries and questions of their users. As long as supporters get updates about the development of the project, I mean real person and not bots, I think the project is ok.

This for sure is not the only criteria which we should consider before investing into any markets. There also are some other points which should be considered in order to see if the coin has the potential or may end up being a shitcoin.

The volume behind the coin might be the first and foremost characteristics any investors would consider first. Then comes the market cap, rank of the coin, team behind the coin, product behind the coin, their source code, important updates from the project and much more. Also the coin should have demand in the future which would derive the price on an increasing order and hence we should never forget to check if the coin would be dependable in the future.

[imstillthebest]

Well, it's very easy, since almost all altcoins are shitcoins, it is sufficient to say that - whatever the currency we are talking about - to say that it is a shitcoin, with 99% probability of guessing ...

lol wtf man but you must be right because people claimes that eth , ripple ,bch are shitcoins  . there are also some that called btc a shitcoin  .

but for me i can say that these coins are far from a true shitcoin because they are somewhat useful and have thier own unique abilities or usage   . most alts are not a shitcoin but most tokens yes  .  its easy to spot a real shitcoin by basing only on its appearance or name  because most shitcoins came up with odd names and odd coin icon/design   . 

[nicster551]

You know its not hard to spot a shitcoin as they are all over the entire market, almost 90%. The best way to spot a shitcoin is its usecase, if you saw that the project was purely based on hype and no working product then that means it is a shitcoin. Another ways to spot a shitcoin is that they already stop their development or the team already dumping their tokens and leave the project.

[Goodvalony]

we have different options of spotting shitcoin. most times, inactivity on gist-hub, social media and no serious update. Most people tends to list in poor exchange which is another method of discovering  a shitcoin. some keep selling their token even after token sales are finished, with some little tiny bonus to attract investors. most focus on their money more that the project they are workiing on.

[sangjoewara]

Well, it's very easy, since almost all altcoins are shitcoins, it is sufficient to say that - whatever the currency we are talking about - to say that it is a shitcoin, with 99% probability of guessing ...

It would be very wrong to say shitcoin by guessing, because not all altcoins are shitcoin, because some altcoins that are already really popular in many exchanges are not included in the shitcoin category.

[Bitbtc8]

Shit projects always have a attractive offers that are always too good to be real, that is if the project is well crafted and still a fake. some have fake teams mixed with real team so its better to search each team member pictures using google image search or others, the next one is common, copied whitepaper or ideas stolen from other old coins

[Zicadis]

If the source code is closed, it usually means that the developers have something to hide.
✓

Is the major portion of the money supply in the hands of the original company or a handful of people?
✓

Well, realistically, not all blockchains are designed for the public. Because of these, they are neither open source, nor upfront about their code.

Blockchain as a service companies can instead rely on third-party audits of their code to prove their usefulness to nascent businesses and the like.

However, I would agree that a lack of public source code for a public (or crowdfunded) project is a big no no.

[Leonardo7]

If the source code is closed, it usually means that the developers have something to hide.
✓

Is the major portion of the money supply in the hands of the original company or a handful of people?
✓

Thanks for your recommendations I have known some before now though. I understand if the source code is closed someone else can't analyze and contribute to it or the development. Now if am not a programmer, how do I know the source code is closed from the Github page? Thanks

[Psalms23]

Base on my experience, its really hard to spot shitcoins, especially if they are still newly launched. Most of the shitcoins/ scam coins are exposed only after some time and that could even be months until you realized you are holding it.

[adzino]

Most of the shitcoins are just a clone of other well known coins. They have nothing new to add to the current prevailing coins. Again, most of the shitcoins will try to scam investors, so the developers will mostly try to hide their identity. They will try to reveal bare minimum information about how their project is going to work. Even if they reveal who they are, chances are that those information are fake. If the most of the coins are being held (or already mined by the developers), then chances of those coins to be shit coin is very high. Abnormal price rise/fall and volume is also another way to spot a shit coin.

[Williams_Leo]

Base on my experience, its really hard to spot shitcoins, especially if they are still newly launched. Most of the shitcoins/ scam coins are exposed only after some time and that could even be months until you realized you are holding it.

Well, if we try to determine if the project is a shitcoin or not as soon as it launches, that is certainly not easy to define because the trading volume and demand of people is still not stable, besides, the next plan of the project may not be clear and launch, rushing in judgment just easily leaves mistakes and misses opportunities. At the very least, use a certain amount of time to consider, if it's a shitcoin, the value will drop relatively quickly over time and very little liquidity, conversely, a good altcoin will have good liquidity, the value can always go in a positive direction

[deeameea27]

Sometimes is hard to spot shitcoins or scam, at least for new coins i don't know how to choose and choose better projects instead of falling ones.

[julius caesar]

I do not think that there is really a certain reason on how are going to call the coin as shit coin. First and for most, almost all of the coin has been called a shitcoin because some of them drops its price. But if we are going to talk about ICOs, you can identify it by just checking the background of the creator of the coin. If they do not have a good background, it might be a scam since they do not have or has a less experience about developing it and might not be able to sustain the needs of that coin.

[makishart]

Base on my experience, its really hard to spot shitcoins, especially if they are still newly launched. Most of the shitcoins/ scam coins are exposed only after some time and that could even be months until you realized you are holding it.

It's not so hard as long as you are using various sources to get the latest information and analyzation regarding the project. Just believe if not only you that does an analyzation to the project. Just join into the active ico group that was doing proper research to the any project and that's enough to avoid the shit scam project

[target]

If the source code is closed, it usually means that the developers have something to hide.
✓

Is the major portion of the money supply in the hands of the original company or a handful of people?
✓

Thanks for your recommendations I have known some before now though. I understand if the source code is closed someone else can't analyze and contribute to it or the development. Now if am not a programmer, how do I know the source code is closed from the Github page? Thanks

I wanna know too. There are projects that provides github pages they end up not just a shitcoin but a scam. Some of them still playing busy in their telegram channel but that's just it.

[Kvalentine]

You can gather enough evidence from the team alone, ask them big questions, if they aren't shady they will answer every tough questions you throw at them, if they have anything to hide you will see them ignoring your questions and answering the easy ones

[Ridwan Fauzi]

Sometimes is hard to spot shitcoins or scam, at least for new coins i don't know how to choose and choose better projects instead of falling ones.

If you don't have any knowledge to know scam projects or you can't make an analyst against them I suggest to just active on scam accusation board.

Before you open this forum you should directly choose scam accusation board as your destination. I believe you will know what scam project on this forum even the project just launch an Announchment on this forum.

[Sanugarid]

Base on my experience, its really hard to spot shitcoins, especially if they are still newly launched. Most of the shitcoins/ scam coins are exposed only after some time and that could even be months until you realized you are holding it.

Well, if we try to determine if the project is a shitcoin or not as soon as it launches, that is certainly not easy to define because the trading volume and demand of people is still not stable, besides, the next plan of the project may not be clear and launch, rushing in judgment just easily leaves mistakes and misses opportunities. At the very least, use a certain amount of time to consider, if it's a shitcoin, the value will drop relatively quickly over time and very little liquidity, conversely, a good altcoin will have good liquidity, the value can always go in a positive direction

You can somehow identify if that particular project is going to be a shitcoin. You can see it when the project is still running and you noticed that their target is not yet reached and they are running the project for a long time, that makes them somehow lose money because if we consider the payment they are giving to the participant during the project or sale that has a big impact too.

Sometimes is hard to spot shitcoins or scam, at least for new coins i don't know how to choose and choose better projects instead of falling ones.

If you don't have any knowledge to know scam projects or you can't make an analyst against them I suggest to just active on scam accusation board.

Before you open this forum you should directly choose scam accusation board as your destination. I believe you will know what scam project on this forum even the project just launch an Announchment on this forum.

Knowledge is really an important attribute you need to obtain before being involved with cryptocurrency because one single mistake can lead to a bad situation such as losing money. So if you really want to invest money, you should study every project by reading the important information. You can actually see it at their whitepaper and to know also the roadmap of that particular project although roadmaps sometimes not being followed.

[TimeTeller]

I do not think that there is really a certain reason on how are going to call the coin as shit coin. First and for most, almost all of the coin has been called a shitcoin because some of them drops its price. But if we are going to talk about ICOs, you can identify it by just checking the background of the creator of the coin. If they do not have a good background, it might be a scam since they do not have or has a less experience about developing it and might not be able to sustain the needs of that coin.

The team involved is really significant in assessing if the project can carry out their objectives.
For those anonymous projects, that would be hard and it would take time to determine their worthiness in crypto.
But even though there are teams who have public profiles, it is also not a guarantee that they will not run away after quite some time.
So if you are an investor for a particular project, you should follow not only their thread or website, but all the social media channels they have.
Because you will get a hint what is really going on by how they will answer some vital questions towards their project.

[abeecrypto]

It’s a difficult one. You could still scrutinize project and think it is a good one but later turn out to be shit one.  And some you think would be shitcoin could turn out to be a good coin. You never can tell! Like, if I was to follow your article to spotting shitcoins, some already progressing coins would fall under shitcoins. Different opinions, different outcomes.

[thesmallgod]

I can tell you this days many investors do not even care about doing enough research on determining the prospect of the project. Just like you have stated, it is very difficult to discover that a coin is gonna be shitcoin but it is always sensible to do a bit of research on a company when investing. In fact, I have made it a priority to always stay away for a project whose registration is not confirmed by me. So even if the project is not successful at least I have little hope of getting back refund. Projects such as LBX come to mind.

[bitcoinst]

I suppose it will be easiest to look at what this coin is responsible for. If there is any business under it. In other words, it is important to understand what purpose the coin developer pursued by creating it

In most cases, the goal is only to make money. If the project does not bring any benefit to real life, then it can be called exclusively speculative.
But even in those cases where the project promises to implement offline, this can be speculation. Everything needs to be checked.

[XCANA]

The idea of the project is everything. Investors tend to invest in those projects who has commercial value and which leads to mass adoption and the team behind the project, I think any coin who doesn't possess these characteristics proves as a shitcoin in the end.

This was how I operate when I was into a full time bounty hunting, I choose projects with case usability in a real world. Sometimes, I invested on projects that has a working product like BuyLight Bulb which I participated on. Therefore, any coins without these features can be term Shitcoins with no real value. Although, many of these shitcoins we see these days are easily pump and dump coins.

[leatutz]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

Shit coin never totally exit from cryptocurrency. You should active  in scam accusation to analyze about real projects, this is the best way to stay away from scam. Because so many projects trun out scam after successfully funds rise. Without Bitcoin and Ethereum, I won't suggest any coin. You should buy any new coin after long time listed exchange.

[gundala]

I am among those who survived even though in 2018 many trams scams project that did not continue to develop the project. Though initially it seemed convincing and provided concrete evidence, it slowly disappeared by making the bad market situation a scapegoat. I've also done the best analysis, but I also understand the risks, a lot of things that are unthinkable here, right? that is why there are still many who survive even though the chances are small.

This was how I operate when I was into a full time bounty hunting, I choose projects with case usability in a real world. Sometimes, I invested on projects that has a working product like BuyLight Bulb which I participated on. Therefore, any coins without these features can be term Shitcoins with no real value. Although, many of these shitcoins we see these days are easily pump and dump coins.

This is one of the best solutions, choosing projects with real and active functions. At least reduce the risk of a fresh start. The rest we only need to accept bad things like risks, and we will continue to survive and be more rational in choosing projects.

[irixo10]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

All your facts are true, the number of coins in this space is too much and funny enough only few are actually doing well. Some are just dead while some are used for pump and dump. In my own way, the first question is what do you want or expect of the coin? This will help to narrow down your choices. But however, one of the simple way to spot a shitcoin is when the team shys away from certain technical questions; this act shows they have nothing to offer.

[aemma]

When it comes down to spotting a shitcoin, many things comes to mind of which the first question should be, why is it a shitcoin? Most people can term a good coin a shitcoin just to bring down its price etc; like someone once said ETH is a shitcoin although we all knew it's false. So to answer that question, one needs to check the position of the coin in CMC, study its growth and move to the project proper to know about the team and if their idea is genuine and how or what they have done over the years to bring it to work. Also, there are other coins which are shitcoins and not listed on CMC, in this case appropriate steps have to be taken, wherein thoughtful questions needs to be asked the team to ascertain their level of understanding.

[DeathProxy]

It all boils down to the team Information.  For project using fake team LinkedIn profile goes a long way to show how genuine the project is and if the coin is a shit coin or a coin with real usecase. You can also spot shitcoin by the reason for creation of the coin,  is the coin created to solve real time problem or for the purpose of just pump and dump.  If its created for the purpose of pump and dump then definitely it's a shitcoin

[kindbtc]

For me a coin is shitcoin for multiple reasons and some of them are;
If the coin does not have proper use cases or practical applications.
If the team is anonymous and never update the community.
If the development or upgrades are not performed in many months and no email or notification has been released to the investors and supporters.
And lastly if the project is not practical or commercial enough to stay in the market and generate revenue for itself.

[fuer44]

in my opinion it is still difficult to identify whether the project will end well or not. because no matter how good the team is and how the project develops, if ultimately the reason for the team is that the money is taken away by one of the teams, then that will be very annoying. sometimes we already believe in the team there and can be seen from the crowdfunding they get, surely we have positive thoughts. but if in the end the problem is that money is taken away, or because the market crashes so that tokens are not released then it will be very sad.

[Kotone]

You can also spot shitcoin by the reason for creation of the coin,  is the coin created to solve real time problem or for the purpose of just pump and dump. 

We cant know yet if the coin created is for pump and dump until we can see them on exchanges. Yes, more likely the coin should have at least use case and a purpose. For an instance that coin cant provide much useful objective then Im suggesting to discard already and avoid it. Usually many projects are like this and using the eth eth network to create these useless coins for their promotions.

[bitgolden]

Spotting a shitcoin is just the problem of high risk investor and for people like me definitely will be sticking only with bitcoin investments or maybe with few other highly reputed altcoins. It means there will be no need of spotting what are good and what are bad. We will be sticking with what we are already having and what we are already giving good returns for our capital. Yes, time is very limited and making good profits out of limited capital is possible and peaceful with the bitcoin kind of already established and proven coins.

I'm not trying to emphasize not to encourage new coins/tokens. But, it is the job of higher risk investors. People who are all preferring to follow the diversification principle may go for investing into many coins which will be including unknown coins and tokens. Only for such investors, spotting out shit things is a big priority.

[assa1979]

You can also spot shitcoin by the reason for creation of the coin,  is the coin created to solve real time problem or for the purpose of just pump and dump. 

We cant know yet if the coin created is for pump and dump until we can see them on exchanges. Yes, more likely the coin should have at least use case and a purpose. For an instance that coin cant provide much useful objective then Im suggesting to discard already and avoid it. Usually many projects are like this and using the eth eth network to create these useless coins for their promotions.

That's true most of current crypto newcomers are erc tokens with somewhat purpose or mission/trouble to solve.
Its rather hard to spot not shitcoin actually so that should be our goal I guess

[bearexin]

Spotting a shitcoin is just the problem of high risk investor and for people like me definitely will be sticking only with bitcoin investments or maybe with few other highly reputed altcoins. It means there will be no need of spotting what are good and what are bad. We will be sticking with what we are already having and what we are already giving good returns for our capital. Yes, time is very limited and making good profits out of limited capital is possible and peaceful with the bitcoin kind of already established and proven coins.

I'm not trying to emphasize not to encourage new coins/tokens. But, it is the job of higher risk investors. People who are all preferring to follow the diversification principle may go for investing into many coins which will be including unknown coins and tokens. Only for such investors, spotting out shit things is a big priority.

I agree people who do not want to spend a lot of time on due diligence, may simply go with bitcoin only. It will eliminate a lot of hassles and risks associated with investing in unknown/unpopular coins. Yes, spotting out a shitcoin must need lots of effort and time which must be job of big team. I believe small investors will not be affordable for that.

Moreover spotting out a shitcoin is not that much easier job for all the people in this crypto community. Because, scammers are coming with all the tags which are recurred for proving a highly potential coin. So it is highly recommended for small investors to stay away from newcoin/tokens.

[Kvalentine]

1. Fake teams
2. Limited information
3. Banning of investors if asked tough questions
4. Copycats of whitepaper
5. Stolen old project designs
6. Inexperienced teams, the lack good resources like choosing exchanges with fake volumes

[slaman29]

It all boils down to the team Information.  For project using fake team LinkedIn profile goes a long way to show how genuine the project is and if the coin is a shit coin or a coin with real usecase. You can also spot shitcoin by the reason for creation of the coin,  is the coin created to solve real time problem or for the purpose of just pump and dump.  If its created for the purpose of pump and dump then definitely it's a shitcoin

It doesn't just all boil down to that! I've seen plenty of scam projects not only with "real profiles" but also even willing to appear on video, willing to pay out big slots and spots in conferences to enjoy themselves and take selfies with stars just running down user-raised money.

For me it's almost 99.99% if the coin is raising money it's a scam. If Bitcoin and others could develop without ICOs, why do ICOs need money? It's different if you're raising money to actually DO shit.

[Clark05]

Actually they have a lot of ways to know or spot the shitcoin but right now the developer are really smart they hide to the people their real purpose because they create or update their technique to believe on them that their coin is good. But for our safety if you want a  good coin or the potential stick to the top or rank coin list in the CMC It helps you a lot to grow the money you invest.

[Stanlo]

Most fake or scam projects always have something to hide, it's your right to find them out, try asking questions on their telegram group, if they are bad you will definitely get blocked and most times their GitHub have all the answers

[Google+]

Actually they have a lot of ways to know or spot the shitcoin but right now the developer are really smart they hide to the people their real purpose because they create or update their technique to believe on them that their coin is good. But for our safety if you want a  good coin or the potential stick to the top or rank coin list in the CMC It helps you a lot to grow the money you invest.

it has become very common when developers try to get investors and traders interested in projects that are developed in any way because I see the method used today can be guessed, usually projects at the beginning will look good and often provide responses with quickly but when it has managed to raise funds with a very large number they will scam slowly.

[Shallow]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

Exactly, there is no shortage of coins and token in the cryptocurrency space all that is needed is due diligence on the ones with adequate growth not growth based on hype etc. Seriously, it is hard to say the percentage that are good as there are many worthless coins but there are few good ones out there which needs more study and time to pin point them out. In order to point them out, you would need to ask the team challenging questions, visit their website, social media accounts, GitHub etc to get first hand Information; mostly be careful of pump and dump coins.

[michellee]

It is difficult to spot a shitcoin or not. We don't have enough information about the project. We only know that if in the middle of the phase, the project stops to run, and the team leaving the project. If you don't want to get trick by them, you don't have to buy the coin and leave them in the market while you have the other coins, which is more potential to increase in the future. As long as you can stay with the strong coins, I think you don't have to think about the shitcoins.

[gweedo]

Just go to their website, if their website is too simple, do not display information about teams, investors .. then most likely those are fake projects. In addition, if you have experience in this market, you can check their whitepaper, 90% of scam projects were discovered after people read the white paper.

[vermigerous]

I think there are many things to consider in order to spot a shit coin. As for my perception, shit coins are the ones that has no market value even for about 5 years. Because of its volume and project is not updated.

[justdimin]

spotting out a shitcoin is not that much easier job for all the people in this crypto community. Because, scammers are coming with all the tags which are recurred for proving a highly potential coin. So it is highly recommended for small investors to stay away from newcoin/tokens.

I have different opinion here, people who want to risk with new coins should NOT be advised to stay away from them. It is personal preference and it is up to individuals' risk assessment levels. I mean to say we cannot have a common guidelines for all level of investors even you will be targeting only small investors. Leaving it up to individuals preference would be the right guideline in my opinion.

This way, it will be individuals responsibility to spotting out a shitcoin/rightcoin so that they can multiply their capital or lose their capital. It is a decentralized world and everyone need to take care of themselves and having any common guidelines will lead to unexpected consequences like a good new project may not be getting enough support which will be a loss for the entire crypto space.

[Jannyh]

Well, this is one thing I really find difficult to know,and as such,instead of me risking my fund in a project I really don't understand, I rather put it in bitcoin,no matter how dip it goes,no matter the timing ,it will definitely rise up one day. I think that is a better and safer investment.

[davinchi]

I have different opinion here, people who want to risk with new coins should NOT be advised to stay away from them. It is personal preference and it is up to individuals' risk assessment levels. I mean to say we cannot have a common guidelines for all level of investors even you will be targeting only small investors. Leaving it up to individuals preference would be the right guideline in my opinion.

This way, it will be individuals responsibility to spotting out a shitcoin/rightcoin so that they can multiply their capital or lose their capital. It is a decentralized world and everyone need to take care of themselves and having any common guidelines will lead to unexpected consequences like a good new project may not be getting enough support which will be a loss for the entire crypto space.

That must be a very good point. When we start ignoring all the new projects and their coins/tokens then it will be leading to be ignoring a highly potential coin somehow. I believe this is the reason this forum is not focusing on moderating on scams and scam attempt. Only we are having community protection against scammers and not by the forum rules.

I believe we are already doing perfect because it is a decentralized world and everyone must care themselves and we cannot simply ignore newcomers. This is the reason people are always suggesting about risking only at affordable limit. It is like you can invest into bit coin with 90% of the capital and only with 10% capital you may risk with other coins which will be including new tokens and coins. This way we are supporting  any new good coin too. At the same time this does not mean we do need to blindly invest into any new coin. Still a high level of due diligence is recommended as usual.

[kooboat]

When it comes to spotting a shitcoin, one of the simplest criteria to use when a coin is listed a number of exchanges with low volume. For a long while now, I have realised that most coins that turns up to shit or almost useless gets listed on a number of exchanges and end up with no or very low trading volume irrespective of the price of each token.

[Pamadar]

Just go to their website, if their website is too simple, do not display information about teams, investors .. then most likely those are fake projects. In addition, if you have experience in this market, you can check their whitepaper, 90% of scam projects were discovered after people read the white paper.

As most of the time the whitepaper are just a copy from existing project, shit developers just copy this information as they don't have real offers to provide, from the team behind to the usable offering you'll noticed and you will be able to assess which is the good one that have the potential to grow and succeed from shit coins that only intended to earned from investors who don't make deeper research.

[Inkdatar]

When it comes to spotting a shitcoin, one of the simplest criteria to use when a coin is listed a number of exchanges with low volume. For a long while now, I have realised that most coins that turns up to shit or almost useless gets listed on a number of exchanges and end up with no or very low trading volume irrespective of the price of each token.

This is one to consider a coin that has low volume and to add up no update from the team. Even a coin is listed in the exchange we can sense a not valuable anymore because of no development. Some crypto users experience of not earning in their coins because of not following it's update about the project. It becomes shit coins so it is very important to check the project before investing.

[TheClownSong]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

To see whether an altcoin is a good investment or not is to look at how actively traded on the exchangers. A good Altcoin certainly has a large transaction volume so that investors actively trade it and this is a sign that the liquidity of the altcoin is large

[cryptoknightt]

that is why there are tokens that die, some survive, it is not possible for all of them to be implemented if a project comes with technology A, then other projects might come with technology A better.
and the previous project will be replaced that's why some of the coins that are ranked in the top 100 cmc from 2017 are different now, most of them are no longer in demand, or any other reason whatever it is.

[thisnewcoin]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

Scam project always has something to hide from investor. Never invest in any coin until got desirable answers about project. My first choice is partnership with popular something, scam project can't manage any partnership. CEO always wants to depends and hiding himself. Trusted bounty manager can help you to select good one.

You are absolutely right! It is not easy to manage a good partnership! So, a scam project can't manage it surly! That's why I also prefer good partnership first whenever I go to researching a crypto project! Then I prefer a well-written whitepaper, media coverage like Forbes, Nasdaq, Coindesk and so on!

[Rocketonly]

When it comes to spotting a shit coin it is quite complicated.

Some investors like to invest on shit coin, they get in soon at very cheap rate, wait for full launch n small hype, then boom they dump and walk away before it crashes.

It takes great courage, good research skills to maintain that stance

Still, that's a ridiculous risk when you consider that you could definitely lose it all someday. It's better to hold Bitcoin and be at the mercy of its extreme volatility, than play games with shitcoins.

What else are investors doing than taking risks? Its only a good risk taker that thrives in any business. Yes, some risk are dangerous ones but no matter what we keep taking them. I know of a friend that only invest in shit projects per say. For him it's quick profit. Invest, cash out and move to another.

Spotting a shit coin by the way is something I personally find it hard to do. Still reading through and learning.

[nreal]

The Whiteppaper test is a good way to distinguish a shitcoin, if it has a lot of spelling and grammatical errors, skip it. The vague promises made in the whitepaper such as "the next global payment system" or "we are the first ..." are a sign of shitcoin.

[kawetsriyanto]

To spot a shit-coin needs a complex analysis/research. The first one is to learn deeply about the information related to team members. Check their identities from various sources. If you find out something strange like a fake photo or identity. Then it is better to stay away from the project. The other things to analyze are about the project quality, MVP, WP, Roadmap, and social media channels. Make sure that everything okay and no fake data.

[mdzahed134]

I think no need to check out many things to spot a shit projects. If which one is listed project than firstly trading volume,exchanges,price,team's activity is enough those can help you to trace shitcoin. A new projects are different likes here you should necessarily to analyze strongly because new coins is risky. Whitepaper,Team member,Roadmap specially team's have to be hard worker.           

[DarkDays]

I think no need to check out many things to spot a shit projects. If which one is listed project than firstly trading volume,exchanges,price,team's activity is enough those can help you to trace shitcoin. A new projects are different likes here you should necessarily to analyze strongly because new coins is risky. Whitepaper,Team member,Roadmap specially team's have to be hard worker.           

Plenty of cryptocurrencies haven't yet been listed on the likes of Coinmarketcap and Coingecko, but might not actually be shitcoins.

I think in order to truly determine whether a project is likely to turn out to be a failure, you need to perform an in-depth analysis on it, and few people have the time for that.

The most important things to distinguish a project as being either something solid, or a shitcoin, is to look at the past accolades of the leadership team.

Have they created anything of substance in the blockchain space? No? Probably a shitcoin.

[TrevorS]

When it comes to spotting a shit coin it is quite complicated.

Some investors like to invest on shit coin, they get in soon at very cheap rate, wait for full launch n small hype, then boom they dump and walk away before it crashes.

It takes great courage, good research skills to maintain that stance

Still, that's a ridiculous risk when you consider that you could definitely lose it all someday. It's better to hold Bitcoin and be at the mercy of its extreme volatility, than play games with shitcoins.

The more Bitcoin you have, the more secure your investments are, I completely agree with you on this. New coins now are powder kegs that can explode at any time without bringing anything but losses and disappointments. There is not a single coin that with 100 percent certainty could enter the market and show crazy growth. All coins are subject to huge risks, therefore it is better to invest in what is already on the market, in what we can trust.

[chennappa121]

You can easily spot a shitcoin or any project like that with get reading regular updates about crypto and crypto market because it can gives enough knowledge about to understand how we can identify those shitcoins and do some research about it before going to take any decision about it.

[sangjoewara]

You can easily spot a shitcoin or any project like that with get reading regular updates about crypto and crypto market because it can gives enough knowledge about to understand how we can identify those shitcoins and do some research about it before going to take any decision about it.

Yes, the point is by doing some research on something we can get important information on anything, whether it's on a project or on a coin, and one of them is to find out the legality of a project and shitcoin.

[shaheer001]

I personally check the new project with the following parameters.
1- Team members(social network and their previous work)
2- Which projects are a partner of the project.
3- What is the project, It exists physically.
4- The project is located in(the physical address)
5- Is the project is according to roadmap and whitepaper.

[Ashong Salonga]

It is really hard to spot a shit coin among those numerous projects that are existing int the market by seeing it in just one glance. It can be possible to seek out a shit coin once you do a thorough and deep research about is background and soon you will discover such thing if a project is creating a shit coin or a goo coin. It will be efficient to do your own research about a project you wish to get engage with because no one will do the search but you only. Determining a shit coin is really hard to do because they seems to act like those legible ones so the only way to discover it is to do research about it and deep down break down such needed information to see it that project creates a shit coin or not. Although it needs to exert much effort, it is the only way I can see to spot a shit coin out of the good ones.

[flagpara]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

You can't finish all problem to spot shit coin. Shitcoin always show up with new plan to scam people. Team members profile is a good point, project promise history should check. Partnership and project ideas is also spot a shitcoin. Binance exchange is popular still some wants to know main location of this exchange.

[doctor877]

At this stage we are only hoping for Mass adoption and for the whole world to be involved. Untill this is achieved, everything else is simply empty.. considering this term, majority of coins will be under one another. Shit coins are usually dead and not active at all as a result of abandonmet and irresponsibility of the teams . From a perspective, when a project begin to say what they can do, I like them to shit coin because they will later be tired if it .

[awik p]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

You can't finish all problem to spot shit coin. Shitcoin always show up with new plan to scam people. Team members profile is a good point, project promise history should check. Partnership and project ideas is also spot a shitcoin. Binance exchange is popular still some wants to know main location of this exchange.

Without government regulations, I think we personally must be able to adjust, so as not to be involved in shitcoin. but sometimes this is difficult to identify, because they can convince many investors with their strategies. therefore experience will lead us to understand all that

[NSA360]

Shitcoin will go down fast if:

-do not have use case (working platform) which spend same shit coin in amount close or above daily coin production

-is not listed in at least one exchange with steady daily volume (real volume, not bot trading -> to many green buy transactions which are all fake)

-has realistic reward scheme after presale ends, so it do go to hyperinflation - anything above 100% yearly will not stand

-real team members pictures and linked-ins do not mean a thing, they all can be faked and i saw to many projects do that (bitcoin do not have real team members)

-company registration means nothing, more than 1000s 2018 ICO scams all have companies, some of these companies are still operational, but they just took eth and play ghost

-If it is token and offer financial services and it is just utility token not security one, than avoid in large circle since SEC did not approve it

-if it is coin with own blockchain, that blockchain should work without need for constant update of client unless use case is wallet itself - otherwise in most of cases, coin is payment for coin use case platform and it just should work in send/receive/store/pos and hold masternode collateral's if it is masternode.

Those are some rules, not all ,and major problem is that sometimes some shitcoins do perform very well at start since good marketing, and than fail.

Another problem is even worse, there are some good coins, with all good parameters but just either unlucky or with not good marketing so they stay undermined and not in expected levels for years.

[TanakabZX]

Shitcoins always disappoints I suggest we all stay away from them, going through their github you can easily nailed them, they have stolen designs on website, they are well known for plagrism I'd you know how to do research

[shoreno]

Shitcoins always disappoints I suggest we all stay away from them, going through their github you can easily nailed them, they have stolen designs on website, they are well known for plagrism I'd you know how to do research

not just dissapointment you will get on them but other bad   traits too or impression but why would you invest on them if you knew that they are sh8tcoins anyway ? or unless you are a newbie and dont know how to differntiate a legit from a sh8t  .  also why would a sh8t project post on github ? i thought legit and professional projects can only be found on this site but if ever a sh8t project post on git , they can easily be caught out because most people that uses or visits git are knowledgeable . noobs stay away from that site anyway because they can only see codes .

[joseyphil82]

The fastest way to detect shitcoins is the vibes you can pull out from the team using simple questions on their group on telegram, it's sure that you will get blocked if they have something they are hiding, questions are always good, you will get some reactions fast

[friendfromnobody]

you cant spot a shitcoin , nsa360 is a scammer and scammed people with his own coin and btcpop . his real name is Marco Filipe Salgueiro Pereira from portugal . he is the owner of secretcoin (scrt) . talking on this forum and nobody knows he create a shitcoin, he is john galt3 @HumaKatuaba on twitter, i doxed him and delete account.

[Novatech8]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

You can spot shitcoins that are cheaply build, with small research on team members picture and linkedin account you can easily uncover some hidden truth but there are bad ass scam projects that have real team and CEO, they can even make public appearances to 'make investors belief', they are undetectable

[so98nn]

It's easy, any coin that is not able to make top 25-50 is basically shitcoin. Because all of these coins have made it through huge market cap and people acceptance is heavy they could be considered as secure coins to invest. In practical terms any coin that sustains market for longer time would be considered as good coin since that's what expected for long term investment in traders eyes.

Any coin that is not making the above list is shitty since they are struggling a lot and acceptance getting reduced.

Follow this basic rule and track coins to know which are the best.

[Mighty_crypt]

I believe that only 50% percent of shitcoins are detectable nowadays, some projects will pretend to be ready for great future, they will satisfy investors but after few years they will exit scam, it was all planned by the team from the start

[VDraci]

It's still possible

1. Do research on the team to confirm is they are real or if they use fake identities.
2. Check the project use case, if it's repetitive projects don't even bother
3. Whitepaper plagrism is still very common, some scam projects still steal others idea and craft whitepaper too

[WannaCry]

its very difficult to identify a shitcoin.. they are hiding even after so many research you do on that coin still you are not convince that is a shit coin..the moment you realize its a shit coin is when you bought some and afterwards its has no more value 

[elewton]

its very difficult to identify a shitcoin.. they are hiding even after so many research you do on that coin still you are not convince that is a shit coin..the moment you realize its a shit coin is when you bought some and afterwards its has no more value 

True! It easier to say a coin isn't good than say it's bad! You can determine a "not good" project by doing research. I suggest you do not ever invest your money into a project that seems "not good enough" or "too good". When I do my research, if I have any doubt about that project, I will stop thinking about investing in it!

[Byakuga]

This is a very tricky question, do you know how many coins that were once called shitcoin but on the long run they perform better than many altcoins? For example dogecoin or hex, the truth is we can't know how determined the team for a these projects are, not until they do something different and good

[OasisDre]

Shitcoins have different levels and the most easiest ones to detect are those that are badly built with crappy use case, there are many big projects in the past that are now shitcoins but when they were released there is huge Hypes surrounding the projects, shitcoins are ghost, you can't see them

[Henrobakkara]

its very difficult to identify a shitcoin.. they are hiding even after so many research you do on that coin still you are not convince that is a shit coin..the moment you realize its a shit coin is when you bought some and afterwards its has no more value 

You're right, I did research on the project for almost 2 days just to find the information I needed, but when I joined IEO they turned out they were shitcoin .. in my opinion real projects and scam projects 90% have in common and are very difficult to be detection

[Winscosinally]

1. Shitcoins are projects that are build for nothing good
2. Shitcoins to many are coins that failed after few months or years

These are two different things entirely, many good called that failed have different reasons why they failed, not all of them are scam projects

[cryptothreads]

I believe that only 50% percent of shitcoins are detectable nowadays, some projects will pretend to be ready for great future, they will satisfy investors but after few years they will exit scam, it was all planned by the team from the start

All coins in this market can become shitcoin if the project is inactive for a long time. I think it's not difficult for you to check if the coin is a shitcoin or not, but it's best if the coin cannot rise in the long run, it's best to stay away.

Besides, if you want to invest safely, you should only choose the coins in the top 100 CMC because these are very popular options for investors.

[Mianae]

Sporting a shitcoin is not as easy as we think. Some projects actually do have some product but their marketing strategy doesn't fit the project thereby making the price dump heavily. Others have a locked source code while some others have major tokens in the hands of developers as they didn't do any ICO to sell their tokens. Its a complicated process identifying a shit coin.

[Barbut]

Sporting a shitcoin is not as easy as we think. Some projects actually do have some product but their marketing strategy doesn't fit the project thereby making the price dump heavily. Others have a locked source code while some others have major tokens in the hands of developers as they didn't do any ICO to sell their tokens. Its a complicated process identifying a shit coin.

It's not easy, and with some scams, we don't know they are scams until the last minutes. They cover everything, everything they do is good, they cover all they need, the project can look great and promising, but in one moment they just disappear. While some scams are simple and can be spotted quickly, with a first look
we get some red flags in the head, with some it's complicated.

[vlast01]

Sporting a shitcoin is not as easy as we think. Some projects actually do have some product but their marketing strategy doesn't fit the project thereby making the price dump heavily. Others have a locked source code while some others have major tokens in the hands of developers as they didn't do any ICO to sell their tokens. Its a complicated process identifying a shit coin.

Almost all ICO coins is now a shitcoin, i have many coins since 2017 and they don't even have a value right now or some of them had been dump it's price so deep. If the don't project have potential use case the project will eventually failed and their coin will be a shitcoin.

[Buttercup123]

This is a very tricky question, do you know how many coins that were once called shitcoin but on the long run they perform better than many altcoins? For example dogecoin or hex, the truth is we can't know how determined the team for a these projects are, not until they do something different and good

The coins will be a shitcoin if the project is already neglected. There are many cases that the project will succeed in the first launch but year had past and now they because shitcoin already.

[Zeke_23]

This is a very tricky question, do you know how many coins that were once called shitcoin but on the long run they perform better than many altcoins? For example dogecoin or hex, the truth is we can't know how determined the team for a these projects are, not until they do something different and good

The coins will be a shitcoin if the project is already neglected. There are many cases that the project will succeed in the first launch but year had past and now they because shitcoin already.

Yes, those kinds of project are the one that was already been left behind by their developers. Even after making the project look good to be true, once they get their desired money, they will leave it behind. Those shitcoins that continuously losing its value and the demand that it has before.

[sorrros]

There are many factors that you have to check:
1. Does the team have any experience?
2. Who is the competitor and how they plan to overtake the market?
3. What is the real use case?
4. Is the token also useful?
5. Look at partners and advisors.

That should be enough to find out if the project is legitimate and promising or not. 

[Iyeman]

I believe that only 50% percent of shitcoins are detectable nowadays, some projects will pretend to be ready for great future, they will satisfy investors but after few years they will exit scam, it was all planned by the team from the start

It's not and it must be more than it. AFAIK if people can aware about the non sense idea to be implemented in the blockchain and it can be spotted easily. What matters a lot should be the personality and how experienced to identify the scam coins.

[rahmatullah9305]

I believe that only 50% percent of shitcoins are detectable nowadays, some projects will pretend to be ready for great future, they will satisfy investors but after few years they will exit scam, it was all planned by the team from the start

It seems like you know more about the plans of any project team, you are very extraordinary, because in general it is very difficult to detect shitcoin that was born by new projects at this time, because the average person says shitcoin to a token only depends on the price cheap, even though it's not enough to prove that the token is shitcoin.

[someone703]

its very difficult to identify a shitcoin.. they are hiding even after so many research you do on that coin still you are not convince that is a shit coin..the moment you realize its a shit coin is when you bought some and afterwards its has no more value 

Agree, most altcoins in this market are shitcoin. They can become scams at any time, so be careful when choosing to invest in altcoin. And best of all, invest only in bitcoin and the top altcoins in the market to reduce risk

[barlo357]

It is hard to determine even though the coin sale reaches its hardcap. I want to partly blame investors on the coins being dump since some of them are really taking advantage of bonus tokens and sold it immediately. From there, they already made profit and they don't care anymore when the coins are getting dumped because of what I've said earlier, profit. Another part is the team's advancement towards the project. There will be no reason for dumping if the project is progressing well. It was like, they already have the money and they don't know what to do now. And that's bullshit after the whitepaper, roadmap, implementation, etc.(kind of bullshits they've prepared). Why it is hard in my opinion? Because you need a capital to make trials of determining a shitcoin which nobody would do. Instead, find a better coin and do what kind of research you need to do and judge it on your quantitative analysis or what.

[GreatArkansas]

Sporting a shitcoin is not as easy as we think. Some projects actually do have some product but their marketing strategy doesn't fit the project thereby making the price dump heavily. (...)

That's why I started to ignore such altcoins nowadays, even how promising their project is, still shitcoin is shitcoin.
Even they got a huge market cap, it's doesn't mean they are not shitcoins, a lot of altcoins nowadays that are in the top 100 highest market cap but you can see they are shitcoins.

[cryptoangel]

its very difficult to identify a shitcoin.. they are hiding even after so many research you do on that coin still you are not convince that is a shit coin..the moment you realize its a shit coin is when you bought some and afterwards its has no more value 

Agree, most altcoins in this market are shitcoin. They can become scams at any time, so be careful when choosing to invest in altcoin. And best of all, invest only in bitcoin and the top altcoins in the market to reduce risk

The current situation all are concentrate the Bitcoin and top altcoins. But I always said we must hold some stable coins also because volatile coins make good profit and loss so traders are join frequently. In reality all the traders are hold some USDT coin. In this subject find the shitcoins so I always said analyse our own method because self analysing always satisfy the crypto investment.

[Apostlekin$$$]

The only tool available to detect some shitcoins is doing research but this won't make you evade all bad projects every time, some project teams will be so careful amd erase any early detection, this is why its better to invest the little amount you can sacrifice

[Spaffin]

Sporting a shitcoin is not as easy as we think. Some projects actually do have some product but their marketing strategy doesn't fit the project thereby making the price dump heavily. (...)

That's why I started to ignore such altcoins nowadays, even how promising their project is, still shitcoin is shitcoin.
Even they got a huge market cap, it's doesn't mean they are not shitcoins, a lot of altcoins nowadays that are in the top 100 highest market cap but you can see they are shitcoins.

You're right.
Many experts express their opinion that most altcoins in the cryptocurrency market generally do not have the right to be even in the top ten of the cryptocurrency market top ratings. Especially interesting is the statement of Blockfyre co-founder Simon Dedik, who negatively comments about Litecoin, EOS, Bitcoin Cash, XRP and Bitcoin SV and would like to see other coins in their place that have recently shown many times better performance, such as LINK, VET and ATOM.
Actually, in a sense, I understand his indignation, because EOS really tries unsuccessfully to copy ethereum, and the Bitcoin cash and Bitcoin SV want to defeat bitcoin, but as a result they do not succeed. And if you take Ripples as an example, then with the help of this coin manipulations are always performed so that developers can get another income.

[Captain Corporate]

 Research is not something that you do just for the market, you do not look at the technical analysis, the volume, the liquidity and so forth to understand if a coin is a shit coin or not. You have to realize that the best thing you could do with research is actually withing the community and online places and search the name of the coin and see if there is anything bad coming up and more importantly if they try to silence the people who try to complain about the coin.

 "When you tear out a man's tongue, you are not proving him a liar, you're only telling the world that you fear what he might say" George R.R. Martin.

 So if you see any complaints and any supression take those into account, see who says what about it and if you are convinced that they are actually legit just keep watching them for a while and see if anything changes, if not you can invest, however if you are convinced they are scam just run away.

[tbterryboy]

Honestly just act in reverse of justice department and you will be fine. Instead of "innocent until proven guilty" you should instead focus on "scam until proven legit" and you will be fine. I do not have any trouble spotting a shitcoin because I simply believe every single coin is a shitcoin until I decide to like it, that way I do not have to see if it is a shitcoin or not, because I already think it is a shitcoin to begin with.

There are like maybe 15 coins I think is not a shitcoin, just 15 and all other coins in existence is a shitcoin in my mind. Some of them could have a decent followers and decent prices and all of that but that doesn't mean that I have to like them, it is a personal thing and you can call even bitcoin a shitcoin if you want to, since it is personal nobody could tell you otherwise.

[smyslov]

Shitcoin is hard to spot in this market, they have many ways to hide the truth. You need to reseach very carefully and have a lot of experience to distinguish it, and in addition, never invest in non-liquidity altcoins,  certainly they aregenuine shitcoin in this market.

That was the hardest to hit you when you have coins that you cannot liquidate or will have to wait some times to liquidate, investors are slow to invest because the liquidity is such a big issue that have so many shitcoins in their wallet, which they cannot sell because of lack of liquidity, this is the scorned of a new coin.

[TopT3ns]

The current situation all are concentrate the Bitcoin and top altcoins. But I always said we must hold some stable coins also because volatile coins make good profit and loss so traders are join frequently. In reality all the traders are hold some USDT coin. In this subject find the shitcoins so I always said analyse our own method because self analysing always satisfy the crypto investment.

Stable coins are of course owned by traders. but shitcoin sometimes deceives us with bad markets and very low demand. Certainly, investors are currently more focused on upper market assets with lower risk levels.

when demand is low I think it still cannot be said as shitcoin, in my opinion shitcoin is a coin that has no development at all and has a very large supply so that the price movement is very slow.

[SlimShadyMmp]

Article for finding about shit coin huh..Ok whats a shitcoin? I think is any coin that lost it value to zero and developer have nothing to say and no roadmap So you can have a coin that tick all the good spot and then crash Best way stay away from project that is repeating whats already in the market. When trading stick with top fundamental coin with good trading volume

[judeafante]

If you are not good in finding a scam or shitcoin, the scam section is the best place to check if the coin that you want to support and invest are reported or you can go to the altcoin discussion and ask members what they think about a certain project that you want to invest or promote diligent research is always the key.

[elewton]

If you are not good in finding a scam or shitcoin, the scam section is the best place to check if the coin that you want to support and invest are reported or you can go to the altcoin discussion and ask members what they think about a certain project that you want to invest or promote diligent research is always the key.

Right! If you don't know how to do research than you can temporarily use the scam section to get scam alerts. However, in the long run, you have to learn how to do research. My key when doing research is that I'll take out any project that leaves me with doubts after reading the information as well as the plan!

[kotajikikox]

There is no shortage of coins and tokens in the crypto-industry. How many of them are any good is the question.

Evaluating the economics, technology, and marketing of just one project is hard. There are thousands of projects out there. It’s impossible to come up with a universally applicable method to tell good projects from bad ones.

Yet, somehow people get by and manage to navigate among all the options in the cryptocurrency market. How?

When there are too many things to choose from and the time is limited, people, animals, and computers sometimes use heuristics—problem-solving approaches that aren’t necessarily optimal or rational, but they work well enough in most cases and save some time if you’re lucky.

https://forklog.media/how-to-spot-a-shitcoin/

Good share but if you really want to be against shitcoins?then don't ever invest in those newly coming currencies because majority are shits and scams.

If we are in this market for years we can easily identify them and will prevent ourselves connected in these shits.

SOme of my friends formerly victim but now they are much smarter and only using Currency that in the to 40-60 nothing more even in Trading or much better for Holding.

[niisarearning]

The most fearfull thing with any shit coin or established coin is trouble with  SEC or Other financial regulator . It is happened with some of my holdings that are Centra , Dropil  once SEC filed case complete value of the coin gone . Dropil looks like promising platform with lots of functionality and active team but finally end up as scam . Now i lost my complete money another one is Centra huge loss cant tell in words . TH emost scariest thing if we holding any coin is SEC based on my experience .