How to identify shitcoins?

[Silberman]

As an investor, i did a lots of invest in altcoins. Those were suppose to be good that time with having good hype, good team and community.

From here, you should be able to learn a lot from your own experience. If you have lost a lot from altcoins, then it's better to stay away from these altcoins, especially those that are hype and FOMO, believe me, they are shit coins that are just hype. And they won't last long, then they will drop again, and won't come back again. And this will continue over and over again. It is very difficult to find new altcoins that really have the potential to rise to the top of coins, not just hype coins that end up being shit coins. but most of them are shit coins. If you want to avoid it, then avoid new altcoins. It's better to choose top coins which, although still at risk, are at least lower than new coins, especially those that haven't been listed yet. And at least they have a good market cap. Or what is certain, just play on Bitcoin. This is the best.

This makes sense, but it is precisely because of it that many people will decide against this path, it may seem such a decision goes against logic, and it does, but since admitting that most altcoins are shitcoins and that there is no hope to make money consistently with them is the equivalent of admitting for the OP they have wasted time and money with their decision to stick with them for so long, they do not want to even entertain the idea this is the case and accept that maybe, just maybe, they should have invested in bitcoin and forget about altcoins.

[AakZaki]

Investing in shitcoins is very risky. I have lost a lot of money by investing in shitcoins for which I now try to stay away from investing in shitcoins. But investing in shitcoins has the potential to make a lot of money but it is risky. I think shitcoins  It will be very safe for us to invest in altcoin. But for that, we need to have a good idea about investment. I have invested some time and gone into depression due to wrong decisions.

you really should stay away from shitcoin if you can't do the analysis and research on the new project. you will lose more and more. Instead of expecting big profits but with bigger risks, it's better to invest in assets that are certain and have been recommended like Bitcoin, the top altcoin. Don't waste your money in vain, it will make you even more stressed.

[Xal0lex]

-snip-

Here's a list of potential shitcoin metrics.

• Listing exclusively on decentralized exchanges such as pancake;
• Selling tokens through the site;
• No funding rounds;
• Lack of foundations as main investors;
• Any memtoken;
• Lack of white paper and documentation;
• Most of the offering centered in the hands of the team and investors;
• Anonymous team.

Also, do they have to run bounty campaigns on bitcointalk?

The forum doesn't have a hundredth of the shitcoins that appear in the industry. If every shitcoin started a bounty campaign here, the forum would just choke in a flood of crap posts, shilling and spam.

White paper and documentation may exist for such projects, but most often either rewrites from other projects, or white paper and other documentation written very superficially and without technical details. For comparison, you can always look at a bitcoin's white paper and a shitcoin's white paper - the difference will be immediately noticeable.

You should not expect a project that copies other projects to suddenly write a unique white paper. Most altcoins are just parodies and copies of other well-known altcoins. If they are gone, no one will notice it, except for the investors who bought these shitcoins.

[_BlackStar]

-snip-

you really should stay away from shitcoin if you can't do the analysis and research on the new project. you will lose more and more. Instead of expecting big profits but with bigger risks, it's better to invest in assets that are certain and have been recommended like Bitcoin, the top altcoin. Don't waste your money in vain, it will make you even more stressed.

If they do it without analysis, then I can imagine they are just gambling. Whether they realize it or not - many traders bet their luck on altcoins and even on some famous memes. They've probably already calculated what they're going to lose regardless of other people's advice - so I'm inclined to let them make the decision without worrying.

To be honest we all are not good advisors to all those who come with all the greed - in fact I think they tend to ignore advice just because they want to get rich overnight. That's not just an assumption - but some new traders and investors have this mindset.

[poodle63]

Investing in shitcoins is very risky. I have lost a lot of money by investing in shitcoins for which I now try to stay away from investing in shitcoins. But investing in shitcoins has the potential to make a lot of money but it is risky. I think shitcoins  It will be very safe for us to invest in altcoin. But for that, we need to have a good idea about investment. I have invested some time and gone into depression due to wrong decisions.

you really should stay away from shitcoin if you can't do the analysis and research on the new project. you will lose more and more. Instead of expecting big profits but with bigger risks, it's better to invest in assets that are certain and have been recommended like Bitcoin, the top altcoin. Don't waste your money in vain, it will make you even more stressed.

when investing in shitcoin one should have the mindset of burning away their money, lets be frank here, quite literally everyone that has invested their money in shitcoin is just giving away their money to the whales that manipulates that shit coin.
although it can be rougly guessed that these people are most certainly investing out of greed, doesn't change the fact that they are just donating their money away.
so everyone that invests in shitcoin, consider yourself donating your money at the first second you invested in it, that way you'll regrets of losing your money and also you will be more happier when it turns out that your investment give massive profits.
but its not recommended to invest in shitcoin for the reason that there are better coin out there with better long term prospect, i mean compare shitcoin gain to some fundamentally good coins like arbitrum and the others.

[AmoreJaz]

-snip-

you really should stay away from shitcoin if you can't do the analysis and research on the new project. you will lose more and more. Instead of expecting big profits but with bigger risks, it's better to invest in assets that are certain and have been recommended like Bitcoin, the top altcoin. Don't waste your money in vain, it will make you even more stressed.

If they do it without analysis, then I can imagine they are just gambling. Whether they realize it or not - many traders bet their luck on altcoins and even on some famous memes. They've probably already calculated what they're going to lose regardless of other people's advice - so I'm inclined to let them make the decision without worrying.

To be honest we all are not good advisors to all those who come with all the greed - in fact I think they tend to ignore advice just because they want to get rich overnight. That's not just an assumption - but some new traders and investors have this mindset.

they will learn their lessons fast once they are getting rekt one project after another. because they will only get the idea if they are already losing some on their investments. we can't force them to believe if they haven't experienced the loss themselves.
some are jumping on this bandwagon for the main reason that they thought they can get high profits at a very short period of time. but the reality is they can't. unless, they got very lucky to one of their investments.

[DabsPoorVersion]

-snip-

you really should stay away from shitcoin if you can't do the analysis and research on the new project. you will lose more and more. Instead of expecting big profits but with bigger risks, it's better to invest in assets that are certain and have been recommended like Bitcoin, the top altcoin. Don't waste your money in vain, it will make you even more stressed.

If they do it without analysis, then I can imagine they are just gambling. Whether they realize it or not - many traders bet their luck on altcoins and even on some famous memes. They've probably already calculated what they're going to lose regardless of other people's advice - so I'm inclined to let them make the decision without worrying.

To be honest we all are not good advisors to all those who come with all the greed - in fact I think they tend to ignore advice just because they want to get rich overnight. That's not just an assumption - but some new traders and investors have this mindset.

they will learn their lessons fast once they are getting rekt one project after another. because they will only get the idea if they are already losing some on their investments. we can't force them to believe if they haven't experienced the loss themselves.
some are jumping on this bandwagon for the main reason that they thought they can get high profits at a very short period of time. but the reality is they can't. unless, they got very lucky to one of their investments.

I agree, it is like they will be eager to learn how to do research to avoid losing more money. Some are just jumping to an investment because someone they know have invested to that certain coin and without doing any research, they will invest immediately (FOMO).

[Godday]

but its not recommended to invest in shitcoin for the reason that there are better coin out there with better long term prospect, i mean compare shitcoin gain to some fundamentally good coins like arbitrum and the others.

Shitcoin is gambling. If you are lucky you will get big profits because of the manipulation carried out by the team or whale. But when you buy shitcoins because of FOMO, you will most likely experience losses. It is not an investment and I also do not recommend investing there because it is not an investment but a gamble.

[AakZaki]

I agree, it is like they will be eager to learn how to do research to avoid losing more money. Some are just jumping to an investment because someone they know have invested to that certain coin and without doing any research, they will invest immediately (FOMO).

FOMO is a real trap that will result in the loss of many people. Nothing can be trusted without clear analysis.
Instead of just depending on other people's predictions, it is better to learn how to do analysis and predictions, so you can see and observe how the market works and the quality of the advice given by other people. Predictions are not 100% correct, but they will help us get a glimpse of future prices.

[_BlackStar]

-snip-

they will learn their lessons fast once they are getting rekt one project after another. because they will only get the idea if they are already losing some on their investments. we can't force them to believe if they haven't experienced the loss themselves.
some are jumping on this bandwagon for the main reason that they thought they can get high profits at a very short period of time. but the reality is they can't. unless, they got very lucky to one of their investments.

Yes - sometimes bad experiences including losing investment value can teach people a lot. That's a valuable lesson for some of them - but some also come and keep falling into the same trap. In reality, not everything we target will be achieved easily - some will fail even though we have planned very well.

The main point is risk management. I believe most altcoins are facing major challenges in the market so the risks for investors will also be large. They must be wise in choosing altcoins if they are interested – meaning they must not choose randomly like lottery numbers.

[Litzki1990]

Investing in shitcoins is very risky. I have lost a lot of money by investing in shitcoins for which I now try to stay away from investing in shitcoins. But investing in shitcoins has the potential to make a lot of money but it is risky. I think shitcoins  It will be very safe for us to invest in altcoin. But for that, we need to have a good idea about investment. I have invested some time and gone into depression due to wrong decisions.

you really should stay away from shitcoin if you can't do the analysis and research on the new project. you will lose more and more. Instead of expecting big profits but with bigger risks, it's better to invest in assets that are certain and have been recommended like Bitcoin, the top altcoin. Don't waste your money in vain, it will make you even more stressed.

Most of the investments in ALT coins are not successful, even if everything is fine while investing, later on we definitely lose our money if we invest in all these coins. Technology is now so advanced that a sheetcoin website will suit you just by spending a small amount of money. However, if you compare the sheet coins with the authentic coins, you will be able to find some differences. 
Sheet coins that do not have a clear white paper, do not match their work with their road map, if there is a website rating then you will see negative reviews. The people in charge of the project will never share their pure address or personal information on the website, in most cases they will use fake trading volume as well as publish a wrong information on the website about the percentage of total supply they have sold. If you see any of these activities on a coin's website or white paper, avoid investing in that coin.

[bluebit25]

As an investor, i did a lots of invest in altcoins. Those were suppose to be good that time with having good hype, good team and community. But with having all of thats, most of altcoins scam after a time! I wonder for some altcoins, they were suppose not to be go but they scammed without any reason! And hundreds of altcoins are in my wallet, which are turn into dead shitcoin now.

There are a lot of opinions on shitcoin and I think they are all right, most of them are negative projects but there is also a positive aspect if we look at it as lessons to stay away from those things. I have also bought and held shitcoins, the laughter afterwards sometimes also makes me feel lucky with things that I consider jokes, like the current market context, new forms appear a lot and shitcoins always appear.

For now, perhaps it's still a basic start with knowledge in this space, avoiding FOMO on things you don't understand, greed will lead to mistakes. Like some projects in the past, they copied each other's ideas, and found every way to launch trending things in many fields and labeled crypto to attract people, most of them are existing projects. at a very short time, with anonymous teams or no one really knows who they are, and sometimes there are some quite professional but still fail in the market.

[Silberman]

Most of the investments in ALT coins are not successful, even if everything is fine while investing, later on we definitely lose our money if we invest in all these coins. Technology is now so advanced that a sheetcoin website will suit you just by spending a small amount of money. However, if you compare the sheet coins with the authentic coins, you will be able to find some differences. 
Sheet coins that do not have a clear white paper, do not match their work with their road map, if there is a website rating then you will see negative reviews. The people in charge of the project will never share their pure address or personal information on the website, in most cases they will use fake trading volume as well as publish a wrong information on the website about the percentage of total supply they have sold. If you see any of these activities on a coin's website or white paper, avoid investing in that coin.

Those are the shitcoins that are the easiest to avoid as they have red flags everywhere that even the most naive newbie can see and eventually take the decision to avoid such project, however the most dangerous shitcoins are the ones that seem to have everything in order and seem like a legitimate project, such shitcoins can gather tens of millions on investments, which make it seem even more legitimate as people think it would have been impossible for such project to get so much money if it was a scam, but as you can guess this is just the work of a smarter scammer, but at the end you will obtain the same results and lose your money.

[mich]

Well most important if there is no real use for it and no value it is a shitcoin. A shitcoin will be a coin that we see big gains and profits for no reason but insider information. Or a rugpull we will see alot of times with shitcoins. 
We can know just by looking at the website. Cheaply made or if they paid some money into making it look good.

[Sebas.tian]

but its not recommended to invest in shitcoin for the reason that there are better coin out there with better long term prospect, i mean compare shitcoin gain to some fundamentally good coins like arbitrum and the others.

Shitcoin is gambling. If you are lucky you will get big profits because of the manipulation carried out by the team or whale. But when you buy shitcoins because of FOMO, you will most likely experience losses. It is not an investment and I also do not recommend investing there because it is not an investment but a gamble.

That's why they keep advising us not to invest a huge amount of money in altcoins, because their price can look funny sometimes that will make you to regret why you took such decision in the past to embrace such shitcoins. I think, there are some potential altcoins you will invest little capital in this bearish season, and you will have something to harvest when the bullish season appear in the market because their teams are in so much concern of their investors to experience positive results from their investment. And it is difficult for investors to make a good income from gambling, because shitcoins are like gamble, it can favour you today by making a huge amount of income and not favour you tomorrow.

[Godday]

Well most important if there is no real use for it and no value it is a shitcoin. A shitcoin will be a coin that we see big gains and profits for no reason but insider information. Or a rugpull we will see alot of times with shitcoins. 
We can know just by looking at the website. Cheaply made or if they paid some money into making it look good.

Usually Shitcoin has very, very cheap prices and the circulating supply is very, very large. This is the easiest thing to see. Likewise with other things such as copy paste white papers, cheap websites with fake designers, and road maps that don't make sense. I often read posts from @cryptovator and it can increase my knowledge about scam or shitcoin projects.

[Sophokles]

Well most important if there is no real use for it and no value it is a shitcoin. A shitcoin will be a coin that we see big gains and profits for no reason but insider information. Or a rugpull we will see alot of times with shitcoins. 
We can know just by looking at the website. Cheaply made or if they paid some money into making it look good.

Usually Shitcoin has very, very cheap prices and the circulating supply is very, very large. This is the easiest thing to see. Likewise with other things such as copy paste white papers, cheap websites with fake designers, and road maps that don't make sense. I often read posts from @cryptovator and it can increase my knowledge about scam or shitcoin projects.

99% of shit coin has something in common with all of these you have mentioned early. They are copy projects, and they offer high yields to attract investors to provide liquidity in their farming contracts. Mostly, they dump their team allocation to their investors and dump the price, which never recovers. Sometimes they directly run pull and abandon the project.

[Wakate]

As an investor, i did a lots of invest in altcoins. Those were suppose to be good that time with having good hype, good team and community. But with having all of thats, most of altcoins scam after a time! I wonder for some altcoins, they were suppose not to be go but they scammed without any reason! And hundreds of altcoins are in my wallet, which are turn into dead shitcoin now.

Any coin you want to invest in, you need to think very well and check some certain things about the project so that you can be rest assured that you are not putting you money in the wrong project that do not have a strong team and community. Community is one of the thing we need to look at when making an investment in a new crypto project. Others may include the team ability, visibility, marketing etc to know if a project really worth our time and money. We should learn from other people always who had invested in some projects that had ended up been rug pulled.

[JeffBrad12]

Well most important if there is no real use for it and no value it is a shitcoin. A shitcoin will be a coin that we see big gains and profits for no reason but insider information. Or a rugpull we will see alot of times with shitcoins. 
We can know just by looking at the website. Cheaply made or if they paid some money into making it look good.

Usually Shitcoin has very, very cheap prices and the circulating supply is very, very large. This is the easiest thing to see. Likewise with other things such as copy paste white papers, cheap websites with fake designers, and road maps that don't make sense. I often read posts from @cryptovator and it can increase my knowledge about scam or shitcoin projects.

and dont forget unrealistic APY and return, they usually overpromise because they know they won't deliver anything after all they are shitcoin.
this I think is the main reason some shitcoin could always lure some people into investing their hard earned money into the shit project.
because it could cause greediness towards people that they got blinded by the promised return and then investing without even thinking twice.
thats why even a newbie could be conscious that some thing may be too good to be true and if some investment included in that criteria its probably just scam.

[TheUltraElite]

99% of shit coin has something in common with all of these you have mentioned early. They are copy projects, and they offer high yields to attract investors to provide liquidity in their farming contracts. Mostly, they dump their team allocation to their investors and dump the price, which never recovers. Sometimes they directly run pull and abandon the project.

We have been observing similar trends in so many things namely altcoins, hype projects, memecoins, field farming and so on with more innovative names to up in the near future. The investors need to identify them early to avoid investment or if they do invest, get out early to minimise losses. Without that insight they are losing and will continue to lose coins from borderline scams like these.

I think we are at a stage where even background checks on teams and reviewing the papers is misleading and the way to be safe from scams is to not look at anything that is non-bitcoin.