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

[RedsIsBlues]

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 ?

[DeathAngel]

Bitcoin is obviously the King, the main alts like ETH, Litecoin etc are good but there are indeed many shitcoins & scam tokens that let the whole crypto scene down. Do your due diligence & full research before investing in less known coins/tokens.

[TopTort777]

Shitcoin is a shitcoin. Nothing much to talk about it. But having them in cryptocurrency world is good or healthy. Users who buys shitcoins bring new money to crypto, which further will be exchanged into something from top alts or Bitcoin. All these shitcoins create good hype. In general they are useless, but they push the interest to cryptocurrency. They are good comparative indicator. After buying shitcoins, people will realize what true gems and profit crypto is.

[uneng]

It's better to stay away from these coins you mentioned. Although it's possible to make nice profit by speculating on these shitcoins, it's also very risky to hold them and small investors who can't afford to lose money should stick only with solid main crypto currencies which have strong potential for future gains.
I believe shitcoins/memecoins are more like a toy for rich investors to play among their group of friends and to have something curious to talk about, since they can afford to lose without considerable negative consequences later for their personal finances.

[Ucy]

Thought they use that phrase for centralized and substandard projects.

Anyway,i believe it's better to give all the opportunity to build any kind of good and useful project they want as long they do not deviate from important development standards, and they should build projects that do not compromise on important cryptocurrency ideals/principles like Decentralisation, Transparency, Immutability, Censorship Resistance, Privacy/Anonimity, Safety, Public Consensus, Deflationary Currency (more like inflation-peoof currency), etc

[(o)(o)ilikeboobs(o)(o)]

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 ?

Projects with a large supply hurt the developers of blockchain projects because most of them were created to manipulate rates and disappear.
Investors pouring money into shitcoins encourage bad projects and hinder serious projects from developing. We need creativity, new technology instead of shitcoins.

[Review Master]

If those are just launched with the deflationary mechanism, than those are just here to do pump-dump stuff and eventually those will disappear from the market when bear market will be started. But we can take advantage of those shitcoins to make profits and don't try to hodl for long term purposes. Also, few projects are having plans to do more developments except deflationary mechanism which could be good to buy with only those funds which we can afford to lose, IMO.

[Jackl87]

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 ?

I definitely belong to the second group here. I think that all those meme-coins that were appearing within the last 2 months or so are definitely not good for the crypto market, i actually believe they were harmful for the whole crypto space and also one of the main reasons why the market began dumping around mid may. I don't think it's a coincidence that the height of the meme-coin hype and the beginning of the market dumping happened around the same time. Those meme projects just took away to much liquidity and capital from "real" projects with a use case and a product. It is also not a good impression for people outside of the crypto "bubble".

[bitkanu]

It's only giving benefits to the short term speculators but it was hurting the crypto market because so many shitcoins already created as a way to grab money. Some shittokens have become a rugpull tokens that were running away with the investor's money.
it has no benefit for the crypto market but it's very similar as a plague. you must know what's the reason why people called that as a shit token because that's similar as a shit.
shit tokens are always getting issued by scammers

[The Wasp]

Whenever you hear people complaining about "fake cryptocurrencies," they are complaining about "shitcoins". Basically, shitcoins are usually the ones that can't be used or traded for anything else.

[sheenshane]

Most of them start with a pump and dump, the sole purpose is that they created as a copycat because of this pump and dump and then the owner abandoned once they earn a lot from the naive investors.  So they called it "Shitcoin" because there's no value on the market, the causes are they don't have actually a real purpose in crypto space or lack of functionalities.

However, it is easy to spot possible shitcoins projects, it could always start with the owner and the developer and then followed by all fake documents.  Investors who want to have a quick profit without proper research will always end up investing in a shitcoin on their portfolio.

[abel1337]

There are some good shitcoins and there are some which font have any potential in the future, they are called shitcoins because only a few coins can survive in the long term. For me, shitcoin is also a good way of earning money but only for the short term, invest in shitcoin in the short term because it won't last for too long, just take the opportunity.

In my opinion there's no good shitcoin in the market, Yes you can possibly earn a good amount of profit in a very short period of time but the risk you are facing is just very big that when you wake up in the morning your shitcoin asset is done and most of the time they don't recover because the support/devs abandoned that shitcoin you invested. Most of the people who gambled buying shitcoin losses before gaining that's why it's not really recommended to buy it. Buying good coins with lesser gains is better than investing in these shitcoins in my opinion.

[israt1@]

What do you guys think about this issue ?

If you look at the crypto market, you will understand that there is nothing on top of Bitcoin. It is the only coin that everyone picks up. There are horizontal coins in order. But if you want to buy it, you must pay close attention to that coin.

[AwoCorporation]

Shitcoin is a coin whose benefits are not that great, but having shitcoin in the crypto market is a good thing, because shitcoins usually bring new money into the crypto market and exchange it for the more popular altcoins or even bitcoin. In addition, the existence of shitcoins can be a differentiator which coins do provide benefits to their owners and which coins are only extras in the crypto market.

[maju69]

shitcoin is out of place for the long term, that's all I know of. not many people suffer huge losses from investing in shitcoins. I don't know what they were thinking, maybe they wanted to find a shortcut to add to their portfolio, but unfortunately, they took the wrong step.
let's get back to Bitcoin, and forget about shitcoins which will only stress you out more. 

[distr@yopmail.com]

nominal dari jumlah token yang sebenarnya adalah sebuah masalah. tapi apakah mereka memiliki produk nyata atau tidak. jika mereka hanya sebuah token yang digunakan di bursa tanpa sebuah produk nyata atau bahkan tanpa adanya project yang jelas, maka shitcoin tersebut tidak layak sebenarnya.
bahkan jelas bisa merugikan pasar crypto. karena nanti akan semakin banyak orang baru yang ikut membeli koin sial dan akhirnya akan memiliki pandangan buruk terhadap crypto.
ketika semakin banyak muncul kripto adalah penipuan, jelas itu mempengaruhi investasi yang masuk.

[bhadz]

It is not actually an issue but it's a common thing to the market. But if you're fond of investing into those tokens called like that, you have to be sure that you know what you're investing. There are many of them but there is no assurance that they'll bring profit to you especially if the hype for that coin is already done. So much newbies are very hype investing into those type of tokens not knowing that they could be just wasting money on it.

[carlfebz2]

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 shit coins for a reason and i dont see the thing on why it was helpful into this market but actually it is just flooding out on the first place.We dont need its existence since we do only need those projects which are relevant and does have real world use or does actually had purpose.

If we do try to look out in regards of usage and relevance then we do see that majority of coins or projects are totally copycat to each others which means they arent useful at all but due to hype and some shills
then these coins do really get out some value.

When you do tend to invest then its always been suggested that you should be looking for the best ones and had been mainly supported or does have demand.

[semobo]

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 ?

How can you say that shitcoins are going to be good for the community, its useless and the creators are going to make money using them by selling it on presale and by listing on scam exchanges then they will let the project to die so it's useless in terms of use case that is why we call it as shitcoin/token.

[wxa7115]

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 ?

I think this was inevitable, since we are in a decentralized market then there is no central authority controlling  the quality of the coins being released, even if I am a firm believer in the technology behind bitcoin I am not against developers that think they can develop a new coin with different characteristics which could perform a certain job better than bitcoin.

But if we are honest the amount of those coins in the market is kind of small, most of the coins being released have no chance to ever become successful or are outright scams, this is why we see people deciding to ignore altcoins completely as they prefer to play it safe and this damages those coins over the long term as a part of the community decides to not listen to them at all and call them shitcoins regardless of their real potential.