How To Spot a Shitcoin?

[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.

[1714695801]

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[1714695801]

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[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.