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

[acener]

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 ?

Of course shitcoins make the crypto world looks bad specially for those newbie who would fall victim on them.
They would think that all or most of crypto are the same shit or useless like those shitcoins.
Only those who are gaining from those shitcoin manipulations are enjoying it.
The problem whit shitcoins are they are only good while they are high but when they fall don't expect them to recover again.

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[Kasabus]

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 ?

Of course shitcoins make the crypto world looks bad specially for those newbie who would fall victim on them.
They would think that all or most of crypto are the same shit or useless like those shitcoins.
Only those who are gaining from those shitcoin manipulations are enjoying it.
The problem whit shitcoins are they are only good while they are high but when they fall don't expect them to recover again. 

Shitcoins will always be bad coins or toke.ns in the eyes of the investors. They might give you temporary profits when their prices suddenly pump but when they dump, you will also end up making huge losses.

No matter how hard we try to avoid them, it won't be possible because their number of shitcoins are always adding. There are a lot of shitcoins in the market yet none of them have the potentials for long term investments.

[apa don]

Personally, I don't pay much attention to shitcoins, I focus more on projects that I see have great growth potential, such as DIVI.

Yes, I totally agree about that, but all of that must be considered first with what is happening now, whether the current high DIVI in crypto market assets will damage other market assets, and whether the current high DIVI will promise is it a long term project?
It can't be turned into a belief and foresight, because it can all change in a second.

[_MrTuyul404]

shitcoin has appeared since 2017 during the era of erc20, but because the eth fee is very expensive, that's why now shitcoin often appears on the bsc, matic, heco network etc with low fees
in my opinion shitcoin is very high risk with high profit, it can reach up to 1000x of the initial price
but most shitcoin projects are known as rugpull

[fvb]

Now almost everyone is trying to create a project with a token offer. For the most part, these are projects that no one needs, which not only benefit the industry as a whole, and sometimes even simply copy a project and try to pass it off as their own. One must be very careful before investing.

[devil2man]

yes in this period new altcoins / shitcoins are appearing like mushrooms but in my opinion it is not wise to invest in them especially with this really uncertain market better to be safe and invest on the top 15 of the exchange rankings, perhaps with a little less earnings but much less risk too

[leetcoiner]

I think the market was full of shit coins before, but now
new shit coins that don't even try to hide that they are shit coins are taking over the market. What's happening? The market urgently needs a cleanup.

[randegibran]

it can be said like a token business.the profits that can be obtained are of course there but the nominal and the number of tokens are the problem. because shitcoin is not as much as we think that's where the problem is. for a big profit in a short time it is a very big risk, it is better to buy a low bitcoin even though the selling price is small. But at least we are not faced with a big risk later

[Webetcoins]

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

Large supply isn't the best indicator of a meme coin. I think coins with no use case and no real thought process behind the coin are termed meme-coins. Any coin that doesn't add any benefit to the crypto ecosystem is technically a meme or shit 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.

Such coins do NO good whatsoever to the community and only bring bad vibes. If someone invests in these coins and loses his money, he would not blame the coin alone but would exit the market and bad-mouth about bitcoins and cryptocurrencies in general and they aren't to be blamed, it's the scam and shit coins that should be blamed.

What do you guys think about this issue ?

I think this is not going to stop anytime soon because people for some reason keep pouring money into these projects and eventually the projects are going to get encouraged as long as they get money from the market.

[KennyR]

I think the market was full of shit coins before, but now
new shit coins that don't even try to hide that they are shit coins are taking over the market. What's happening? The market urgently needs a cleanup.

For some people these shitcoins have given the best outcome. It means those users are lucky to make big deal out of it. I prefer investing on such coins with very small funds and hold a big volume. This is all because of the cryptomarket being a place where anything could happen. Another thing one day myself can also get lucky out of the manipulation from Elon or some powerful hodlers. Though shitcoins aren't valued it has got some value in it for such stated reason.

[TheGreatPython]

I think the market was full of shit coins before, but now
new shit coins that don't even try to hide that they are shit coins are taking over the market. What's happening? The market urgently needs a cleanup.

They aren't hiding because of what happened with Dogecoins. Earlier being labelled as a shit coin meant investors will run away from the coin but now people despite knowing and the token claiming themselves as shit/meme, will invest money into them because there is a FOMO within every investor.

Dogecoin went huge and a lot of coins followed it like SHIB and then once SHIB was gaining enough attention, there were tokens that followed closely behind it like Akita Inu and others. These token creators watch what is the current investing trend and will just follow it blindly and I think they are even being successful because lots of people are trading these coins without half of them knowing what these tokens are meant for actually.

How to stop this from spreading? We traders must strictly avoid trading these coins at all. Trust me, only the creators of these tokens are earning money at the end with these tokens.

[Xinarae*]

yes in this period new altcoins / shitcoins are appearing like mushrooms but in my opinion it is not wise to invest in them especially with this really uncertain market better to be safe and invest on the top 15 of the exchange rankings, perhaps with a little less earnings but much less risk too

It's safe to invest when shitcoins are high but the market is down a lot at the moment so the risk will be higher. I think it's better to invest in etherium and other altcoins than shitcoins that are in the market it is in a good position and the risk is very low.

[Henrobakkara]

yes in this period new altcoins / shitcoins are appearing like mushrooms but in my opinion it is not wise to invest in them especially with this really uncertain market better to be safe and invest on the top 15 of the exchange rankings, perhaps with a little less earnings but much less risk too

It's safe to invest when shitcoins are high but the market is down a lot at the moment so the risk will be higher. I think it's better to invest in etherium and other altcoins than shitcoins that are in the market it is in a good position and the risk is very low.

Unlike other Altcoins, we believe it is better to invest when the market is low or has dipped like this so that you can buy more for when the price is high and make more profits but if I get you correctly, you cannot invest in shitcoins because the market is down?  Well, I guess that's why they are called shitcoins. You only feel safe to invest in them when they are been pumped cos there is not confident that they can rise with the real coins after the market sees this type of correction.

[KARSASA]

Shitcoin has been popular for a long time, and the core of their propaganda is community autonomy. But I think this is actually another kind of greater fool theory

[BigBos]

I have no idea. nowadays very many developers are making meme coins after seeing the price of doge going up, and making shiba inu. however, in my opinion, instead of making coins like that, developers should make tokens that are useful and able to attract people because of their functionality. however, I believe that most people see meme coins as a just coins for their own profit. Yeah, but, I don't know for sure. however, I'm more interested in looking at coins like BNB or ETH.

[kidbounty]

to me shitcoin is a coin that has no real use. The coin thrives on speculation and market manipulation. like meme coins, coins like doge, shiba, and others are one of the shitcoins. The coin thrives on the influence of influencers and repeated market speculation. shitcoin is so bad and littering the crypto market, it will just be a dump when the time comes.

[tvplus006]

From my perspective typical shitcoin is the project who don't have any real product, services and can't keep his promise according to the roadmap. On this day shitcoins is very popular and you can find it many shitcoins in pancakeswap.

One of these varieties can be called coin-memes, such as Doge and its various counterparts. In fact, they should disappear from circulation after a certain time, since they do not have a real product, but thanks to the support of the community or certain personalities, such as Elon Musk, they become a toy for pump&dump.

[2tang]

In my opinion, there are two possibilities that will occur if there is a large supply of coins provided by the developer.
First, the developer of the coin very easily took advantage of the many investors who were attracted to the price of the coin because of the low price.
then the second problem is the lack of investor confidence in crypto when there are so many Shit-coins popping up. I think like that

Yes, that's true because the two possibilities you mentioned have happened in the past as well as at this time, but for investors who are very experienced in the crypto space, they will always prioritize their own analysis before believing in shitcoins or new coins with very high supply.

[$anounimus$]

Shitcoin has been popular for a long time, and the core of their propaganda is community autonomy. But I think this is actually another kind of greater fool theory

Yes, shitcoin is the work of the crypto community whose only job is to attract the attention of investors so that they can profit through other people's losses, so that's enough reason to be ignored.

[Oasisman]

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'm not sure, does shitcoin gives benefits in crypto space?
The last time I checked, shitcoin has no value, most of the time it has no real use case and is only used to pump and dump.
The only benefit a shitcoin could give you is when you were able to ride the pump and sold everything before it crash.
Nevertheless, a shitcoin is being called a "shitcoin" for a specific reason that it's useless, just a tool for pump and dump.