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

[Vishnu.Reang]

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.

As far as he is concerned, some people are making money and therefore it is good for cryptocurrency sector. With established altcoins, this logic makes sense. When BTC or ETH goes up, a lot of people make good profits. But I don't know whether the same can be said about shitcoins. Because those who purchase these coins at rates close to ATH will suffer heavy losses in the future (unlike the case with investors of BTC and ETH, who are likely to get good returns if they hold on to their investment for a few years).

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[adzino]

This days there are so many tokens appearing with a very large total supply, tokens like this are often called "Shit-coin/shit-token".

Expect for few selected crypto currencies, rest of them are shit coins or tokens. They have no real use case. Either made out of thin air to scam people, has nothing new to offer or is a clone of an existing coin.

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.

Those that say it's good for the crypto world are the ones shilling for the shitcoins so that it gets pumped. Or they are just trying to create a hype and exit with profit. Don't listen to them. Shitcoins are bad for the market.

What do you guys think about this issue ?

Invest in shit coins, highly likely you will be unlucky and lose everything.

[perfect999]

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 ?

It is normal that people are looking for a profit in these "shitcoins" because the regular ones are not doing amazing right now. I do not think that bad ones will make you any profit neither, in fact most of the time they will make you lose, but people are looking for that "gem" that will be in the pile of shit and that is what can make your dreams come true.

This is a very very difficult thing to do and requires a lot of capital and a big courage and confidence, you will end up losing so much and getting scammed, rug pulled, "hacked" and many other things before you can find one good thing that will make all of that worth it. There is an actual chance that you may never find that as well which is the real difficult part. However if you stick with the big coins, that is guaranteed to profit a bit in the long run, not as lucrative as a gem find, but at least guaranteed profit over long period of time.

[Twinkledoe]

My iwn understanding about shit coin is that, when you have that kind of an altcoin that gives you no benefit at all, like if you have received a token from an airdrop that has no value at all even for almost a decade it can be a shit coin, or if you have that kind of token and already listed but impossible to trade or sell it, also a shit coin. This past year i have received kicktoken that has a big market value but impossible to sell since you have to join their trading and meet their standards in their exchange to get your kicktoken.

In other words, you can label a coin or token as a shit one, if they have no reason to exist, and has no real value in the market. Most of these coins are created for the benefit of their own "devs", even pump and dump coins can be included in this category. Because they are only after for the possible gain and not worried about their possible contribution to the market. Most of the time, they have very short lifespan as the team behind it will just disappear in no time, once they already pocketed some money to their project.

[radjie]

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 ?

If we look at the positive side, the existence of shitcoins certainly plays a role in driving interest in cryptocurrencies because the purpose of shitcoins is of course to be traded by converting them into Bitcoin.  but the downside is that many fraudulent projects take advantage of the situation so that the tokens they create are just worthless junk coins

[gundala]

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 ?

not only the supply is too much, but also has no real function, the fundamentals are weak. mostly just follow trends, hype, for example token memes that use animal names.
look how many shitcoins are pumped up and then crash to the ground, even only lasting a few days. if you don't have self control and fomo, it will be very risky to join a project like this.

Indirectly it might make a layman's bad view of crypto worse, but for those who want to really learn and those who already understand the crypto ecosystem, they will definitely consider this a normal thing. it is very important to have basic knowledge as a self-defense tool in a highly volatile crypto ecosystem.

[eaLiTy]

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.

I cannot understand the benefits of these shit tokens with unlimited supply, for example when the price of Dogecoin started pumping people started to look for similar meme coins and some of them rallied 1000% SHIBA INU and what is crazy is that their return of income is 561254.03% which is really crazy and developers will be thinking to come out with similar projects with huge number of coins and change their fortunes as well.

[finaleshot2016]

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 ?

Actually it really depends on the user or trader. If a trader is very knowledgeable in the flow of the market, he can use shitcoins to make a profit because he knew the logic behind shitcoins but if a new trader uses shitcoins to gain profit but doesn't have knowledge or even research, he will lose a lot of money.

Shitcoins is more complicated than other altcoins published on exchanges since it's impossible to predict whether it will continue to pump or not because some hodlers have already profited.

I'm into shitcoins because I already gained many on that but the risk is very high and you should always DYOR before entering.

[Dread Pirate Roberts]

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 call their concept a troll coin. and it's not wrong when they call it a shit coin. because their project is only based on trolling / for fun but with a high profitable concept for them. I myself am not very interested if I have to buy coins like that  for my investment except only for doge ( i've using it for few years), there is many thousands of coins exist on market, there is no compelling reason to particularly seriously invest in such projects. this is my opinion.

[isaac_clarke22]

~

It hurts the crypto world. It only benefits those who invested for shorter term gains and those who exit scam on the project.
Those shitcoins are a general word for those coins that are just for the pumping purposes only to be dumped in the end losing its value.
I kind of see it as no longer an issue, as they're many of them already here in crypto space.

[TopTort777]

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It hurts the crypto world.

Naaah, they dont hurt cryptocurrency world, they hurt only those who accidentally have bought these shitcoins at ATH. But they improve the value of top altcoins and Bitcoins. They are like CocaKola in the world of beverages. Once you taste, you realise that Coca Cola (or Bitcoin/Ethereum/BNB and others) is way more better than this fizzy crap.

[DapanasFruit]

What is happening with meme tokens that are considered to be shitcoins can be similar to the many ICOs that were introduced in 2017 and early 2018. I can only say that 99% of these new projects which usually happen in the Binance Smart Chain will just die a natural death, and they can be gone some months from today...that is why it is quite risky to be involved with them. It would be so difficult to determine which of these shitcoin can proceed to be a serious and solid platform...but for anyone that has a good taste with risks and rewards then they can be a good exposure.

[Darktongue]

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 ?

Even very old good altcoins don't release the maximum supply in a short time or some years. I think any shit altcoins doesn't want to reveal the maximum supply and circulating supply. Big investors shouldn't invest in new altcoins. Most of the new altcoins are shit, which we will see after the bullrun season. I don't invest in high supply altcoins.

[NicNacCoin]

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 ?

Yes we found a lots of cryptocurrencies where total supply very large amount ( trillions figure) but price very low . I already invested Shiba Inu coins and it's derivatives coins. But I am fully confused about it's price and future. Have it good future!!!

[DarkDays]

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 ?

Thankfully, I haven't come across people in crypto who's belief was that shit-coins are good for the crypto community, because if I had I'd be worried about them.
There is no hell on earth that shit-coins are a benefit to crypto, these are only shilling coins on the market to take advantage of learners that don't know what they are doing and lose their money. It is all a monopoly, with no value for their existence.

[darewaller]

There is no hell on earth that shit-coins are a benefit to crypto, these are only shilling coins on the market to take advantage of learners that don't know what they are doing and lose their money. It is all a monopoly, with no value for their existence.

But, as this crypto space is open source based and free for anyone, scammers will always attempt to suck naive investors' money by luring in the name of new projects. So, shitcoins are just part of this crypto market and if you notice everyday some new coins or tokens arrive for same repeated purposes and some newbie writes about that in this forum as well. So, we need to safeguard ourselves by making use of old lessons.

Shitcoins can be classified as a disadvantage of decentralized environment like if there is an approval authority then devs need to get permission for launching a new coins then probably we can eliminate such shitcoins before arriving itself.

[ethereumhunter]

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 that can attract attention from people to join in the crypto, especially if that shit coin/shit token gets a pump so high and give a big profit to people. People tend to follow that trend and try to invest in that because we already saw what happened to a previous project that can explode and invite many people to invest in that project. But many people also losing their money because they do not research to find the right project. They only follow what other people suggest and that is their mistake. The shit coin/shit token will comes in the future and we can not stop it because, in the crypto world itself, the new trend will replace the old trend.

[imstillthebest]

they have upgraded . they are not called shitcoins anymore but they are now called as meme coins . having large supply is the asset of a meme coin because they are for fun anyway  .
 those that  says that meme coins or shitcoins benefit the market are lying . how can it benefit ? it only makes the people greedy and think that crypto is easy money . if they dont met their expectation and they will get scam , it destroys the reputation of all crypto

[Dread Pirate Roberts]

they have upgraded . they are not called shitcoins anymore but they are now called as meme coins . having large supply is the asset of a meme coin because they are for fun anyway  .
 those that  says that meme coins or shitcoins benefit the market are lying . how can it benefit ? it only makes the people greedy and think that crypto is easy money . if they dont met their expectation and they will get scam , it destroys the reputation of all crypto

Yes, type coins like that are only for their community, but people tought they had hope that that coin will have a similar experience to "doge coin" but I believe it will be very difficult to happen because things like doge don't always happen in the market. especially with coin that have the same concept. without any other benefits for other people.

[DarkIT]

they have upgraded . they are not called shitcoins anymore but they are now called as meme coins . having large supply is the asset of a meme coin because they are for fun anyway  .
 those that  says that meme coins or shitcoins benefit the market are lying . how can it benefit ? it only makes the people greedy and think that crypto is easy money . if they dont met their expectation and they will get scam , it destroys the reputation of all crypto

Shit coin are most time get our money back.When we invested our money in this,it will get into many dumps and get our money.The issue is we get good intension over the coin and we believe in the concept of the loss will be recovered .Then we start to buy the same coin again and again.By thinking ,the coin will give back the profit.