What Do You Guys Think About So-Called "Shit-coin" ?

[CryptoGuy42]

most of the reasons why these coins can be called shitcoins are because they are worthless, only listed on small exchanges, or even failed to be listed on any exchange, so they can't be sold and are worthless

This is a good point but generally correct. But that is the BSC in general. I wouldn't even know where to start to count all the coins.
But the other side of things, is a token/coin has to start somewhere, unusually on a small exchange, but it can grow. BANANO for example (hard fork from Nano) has been around for 3 years now and is still not on the "big" exchanges. $BYG is also another example. Black Eye Galaxy is a decentralized NFT token. It is currently not on any large exchanges but as the new NFT platform/game takes off it hopefully will be added to others. I am excited for this and hopefully score some nice planets and have some big returns.

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[viananda2525]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

cryptocurrency market will looks good or bad it is depend how we use our sight to analize this condition. some people recognized crypto market as good place to invest their money and maybe already got some profits. meanwhile for those getting loss will always look it as bad due too many shitcoin that make beginer investors suffered loss.

[jaberwock]

I think shitcoins has one major issue: new investors getting caught up in the hype, investing, then becoming bag holders. Then they never want to invest again. I know a lot of people got introduced to crypto from the DOGE media frenzy. I am sure a lot of them did not DYOR as they say.
I personally investing is some meme/shit coins, but it is money I am willing to lose. BANANO, because I love the community and BYG (Black Eye Galaxy) because I have always wanted to own a planet. BYG actually has utility unlike a lot of "shit-coins" so I don't know if I should consider that an alt coin or not. BYG lets you own a planet and make returns on the resources and initial discoveries you make!

The problem is that we should not be responsible for them losing money, but we "sort of" are. What we should be suggesting to them is DYOR and nothing more, that's it and if they don't do that we should not be responsible.

However what they hurt us is the fact that when they get in, they end up not getting out because they lose money and then they go around telling people how horrible crypto is, when in fact it was their idiotic move that caused them to lose money. They are out there creating a bad name for bitcoin and crypto just because they didn't do their research, which is why I think it is unfair for them to do that but the reality is that they still do it and hurt the crypto world. At the end of the day this will continue and there is nothing we can do, whatever happens will just be part of the crypto world and it is already calculated in.

[CryptoGuy42]

I think shitcoins has one major issue: new investors getting caught up in the hype, investing, then becoming bag holders. Then they never want to invest again. I know a lot of people got introduced to crypto from the DOGE media frenzy. I am sure a lot of them did not DYOR as they say.
I personally investing is some meme/shit coins, but it is money I am willing to lose. BANANO, because I love the community and BYG (Black Eye Galaxy) because I have always wanted to own a planet. BYG actually has utility unlike a lot of "shit-coins" so I don't know if I should consider that an alt coin or not. BYG lets you own a planet and make returns on the resources and initial discoveries you make!

The problem is that we should not be responsible for them losing money, but we "sort of" are. What we should be suggesting to them is DYOR and nothing more, that's it and if they don't do that we should not be responsible.

However what they hurt us is the fact that when they get in, they end up not getting out because they lose money and then they go around telling people how horrible crypto is, when in fact it was their idiotic move that caused them to lose money. They are out there creating a bad name for bitcoin and crypto just because they didn't do their research, which is why I think it is unfair for them to do that but the reality is that they still do it and hurt the crypto world. At the end of the day this will continue and there is nothing we can do, whatever happens will just be part of the crypto world and it is already calculated in.

Very well said. I am not the best with word, but this is 100% how I feel. I know a few extended friends that both made lots of money and lost lots of money in the DOGE/GME hype.
What do you think of the BYG (Black Eye Galaxy) token I mentioned? I know it can be a long shot, and I would only invest what I can lose, but it could be a real gainer. Also fun to play.

[marilynmanson21]

shit coin can't be for the long term, they just rely on fomo I think, for old players they will understand if they are going to take a position to take shitcoin, they will definitely hit n run, and will never come back when they get a profit

[campusnet]

shit coin can't be for the long term, they just rely on fomo I think, for old players they will understand if they are going to take a position to take shitcoin, they will definitely hit n run, and will never come back when they get a profit

professional traders and investors know how to make a profit with shitcoin.
holding it in for the long term is a bad choice. there's a chance they could be better. but for the most part, I believe all will be discarded and abandoned.
there are even a lot of shitcoins that are not listed on the exchange. you can see it in your wallet from bounty rewards and airdrops. surely you see shitcoin that will not generate anything.

[wheelz1200]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

They are called that for a reason.  Naive people step into crypto and end up losing a lot of money in these schemes only for the creators to get more bitcoin.  It only detracts new people from sustaining in crypto and the inevitable inclusion of crypto in our society will take that much longer.  Reasonaly I can see a handful of coins needed, but the thousands and thousands of clone coins can disappear off the map and it will make things much better.

[Fivestar4everMVP]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

Well, from my Personal point of understanding, that a coin has a very large total supply does not make it a shitcoin, or qualify it for that tag, any coins without a good or unique use case is considered a shitcoin, and this is regardless of whether it has a lot of supply or just a few millions, a coin with just 1 million in total supply and each coin worth 0.001 is a shitcoin.
To make you and everyone else understand better, a coin that promised tech it obviously can't be able to build or wasn't able to build and as such is considered a failed project is a shitcoin, it has nothing to do with the total number of coin supply it had or has.

[CryptoGuy42]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

Well, from my Personal point of understanding, that a coin has a very large total supply does not make it a shitcoin, or qualify it for that tag, any coins without a good or unique use case is considered a shitcoin, and this is regardless of whether it has a lot of supply or just a few millions, a coin with just 1 million in total supply and each coin worth 0.001 is a shitcoin.
To make you and everyone else understand better, a coin that promised tech it obviously can't be able to build or wasn't able to build and as such is considered a failed project is a shitcoin, it has nothing to do with the total number of coin supply it had or has.

What about a new coin with a low supply that has use case?
I've been looking at $BYG for some time now. It has use in the Black Eye Galaxy game/nft game. It has some serious gains this week, but I know some of that is new. The company has a great roadmap posted and looks really fun to actually collection/play.

[Kunnu]

Imo shitcoins have become an important part of cryptocurrency industry nevertheless I would say that investing in shitcoins is like gambling so invest very carefully if you want. These days it's surprising to see that big investors are investing in shitcoins that's why we can see there are some shitcoins in cryptocurrency market with massive volume, although we must not depend on shitcoins because of its higher risks.

[taufik0911]

shit coin can't be for the long term, they just rely on fomo I think, for old players they will understand if they are going to take a position to take shitcoin, they will definitely hit n run, and will never come back when they get a profit

I entered the world of cryptocurrency since 2014
doge used to be called shitcoin but now doge is shocking cryptocurrency lovers because doge can achieve surprising ATH and provide huge profits in a short period of time
if you look at the events that have happened to doge, how do you view shitcoin today
?

[ogundowotoby01]

The low barrier of entry into the crypto-currency market and has created a market where over 90% of the projects are very low valuable projects and their cryptocurrencies will will most likely not be successful in the long run so as a consequence of that there is so many shitcoins and that is just to show why there is need for some sort of regulation for the decetralized market to thrive. Shitcoins is every investors nightmare and no one likes to be holding bags of it

[RBLT]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

Well, Shit-coin is a shitcoin. They usually have little value or no value at all. Many-many creators made a lot of coin supply to be airdropped and each coin probably 0.0001. That's a shitcoin right there. It will only became a trash in your wallet, so there's no point holding them in your wallet 

[Sithara007]

Well, Shit-coin is a shitcoin. They usually have little value or no value at all. Many-many creators made a lot of coin supply to be airdropped and each coin probably 0.0001. That's a shitcoin right there. It will only became a trash in your wallet, so there's no point holding them in your wallet 

We have two shitcoins in the top-10 list from Coinmarketcap (Dogecoin and Ripple), with a combined market cap of $100 billion. You may still be able to defend XRP, but what about Dogecoin? Anyone who is aware of its history will not deny the fact that Doge is a shitcoin. It was first created in 2013 by Billy Markus and Jackson Palmer, to mock the very idea about cryptocurrency. The most ironic fact about Doge is that the promoters never took their invention seriously enough. Else they would have been billionaires by now.

[kak uli]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

because of the large number of coins launched to be listed on the market, on the one hand it benefits the crypto world. but if the coin is a scam token or Shit-coin then it will harm many people, including investors who will be harmed so that investors lack confidence in digital currencies. I think this is where the loss experienced by the crypto world

[aemma]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".
Many people say that this benefits the crypto world, but there are also those who say that it actually make the crypto world looks bad.

What do you guys think about this issue ?

With the skyrocketing of Doge coin as a Meme coin, many developers started creating theirs hence the reason many where created with even more supply you can imagine, well according to some people it is easier to pump. But however, we need no one to tell or explain to us what a shitcoin is and what it's not, anyone trying to paint a better picture of what shitcoins is all about is probably trying to shill or hype the project to people.
Also, whether large supply or not, there have been many projects with less supply which are still shitcoins, so in a way, shitcoins is not only about coins with very high supply but coins with no use case, no tangible thing from the team other than shilling in different social media channels and so on.
A coin like SOL doesn't needs shilling or hype from the team, what it offers and what the team are capable of doing is enough to create the right hype.

[Dedewahyu]

Tokens/coin with a number that exceeds trillions of tokens that do not have good technology and fundamentals, anonymous teams that cannot be recognized and even tokens without whitepapers, you should stay away from tokens like that, because the hype shitcoin pump and dump is over, don't let your money go away and lose.

[litepool.ru]

See who is the speaker here?
They don't know anything about this market to make such a statement. But this person I have to give them is a paranoia rather than a grounded belief. Everything has a price for a reason, the crypto market we know shitcoin is just a small corner, take a look at this market for yourself and think about it why you like shitcoin

[hitsnorth]

I don't think it makes crypto market looks bad. When crush is happening a lot of shitcoins are fading. There's just a lot of opportunities for everyone to start their own coin. But it should be built on something valuable and interesting and not just make profits for it's creator.

[DonFacundo]

I don't see shit coins that can be benefits in crypto world maybe the behind of shit coins are, you know the scammers. Shit coins are not really good investment that's why it called "shit coin" because of pump and dump scheme, some are just memes with no project behind it and some are just created to scam people. So don't invest in shit coins, better to research the project first before to invest the coin.