How To Spot a Shitcoin?

[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

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[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