Features of Shitcoins

[deal with it]

@Asif WILSON Khan asked me to create this thread here so he could elaborate in appropriate forum section.

If others have opinion, please share...

and yeah you can even share your worst misunderstanding about a particular coin.

 

[Wilson Grant Fisk]

@Asif WILSON Khan asked me to create this thread here so he could elaborate in appropriate forum section.

If others have opinion, please share...

Shitcoin = no viable USP with no real world application.
Blockchain Technology is great but it doesn't require a coin, those coins that are pumping Blockchain Technology as the key selling point are potentially worthless unless there is an application behind it.
Also the system can be copied so how will one coin have more value over another coin that is a replication. Any coin being pumped that has no real world application will inevitably be dumped at some point.
Cryptos are in their infancy and it will still take many years for them to reach maturity with them being used as a true currency rather than a speculative vehicle.
Yes people can make money but the majority of people will eventually lose money in the infancy stages. Those that take a long term view (5 years+) and hold a selection of potentially promising coins are those that may make $$$$$$+.
At the same time, where they may make $$$$$$ on one coin they may lose $$$$$$ on other coins by not cashing out at the right time.
Crypto and Blockchain are here to stay but there is no guarantee that any of the current coins will be around in 10 years.

 

[deal with it]

Shitcoin = no viable USP with no real world application.
Blockchain Technology is great but it doesn't require a coin, those coins that are pumping Blockchain Technology as the key selling point are potentially worthless unless there is an application behind it.
Also the system can be copied so how will one coin have more value over another coin that is a replication. Any coin being pumped that has no real world application will inevitably be dumped at some point.
Cryptos are in their infancy and it will still take many years for them to reach maturity with them being used as a true currency rather than a speculative vehicle.
Yes people can make money but the majority of people will eventually lose money in the infancy stages. Those that take a long term view (5 years+) and hold a selection of potentially promising coins are those that may make $$$$$$+.
At the same time, where they may make $$$$$$ on one coin they may lose $$$$$$ on other coins by not cashing out at the right time.
Crypto and Blockchain are here to stay but there is no guarantee that any of the current coins will be around in 10 years.

are you into any coin at all ?

 

[zionbar]

 

[Extruser]

Shitcoin = no viable USP with no real world application.
Blockchain Technology is great but it doesn't require a coin, those coins that are pumping Blockchain Technology as the key selling point are potentially worthless unless there is an application behind it.
Also the system can be copied so how will one coin have more value over another coin that is a replication. Any coin being pumped that has no real world application will inevitably be dumped at some point.
Cryptos are in their infancy and it will still take many years for them to reach maturity with them being used as a true currency rather than a speculative vehicle.
Yes people can make money but the majority of people will eventually lose money in the infancy stages. Those that take a long term view (5 years+) and hold a selection of potentially promising coins are those that may make $$$$$$+.
At the same time, where they may make $$$$$$ on one coin they may lose $$$$$$ on other coins by not cashing out at the right time.
Crypto and Blockchain are here to stay but there is no guarantee that any of the current coins will be around in 10 years.

You made an excellent point there!

 

[srroc]

Disclaimer: i do not know shit about shitcoins (no pun intended)

I am a newbie to both the blackhat and cypto world. My understanding thus far is that bitcion is the "mother currency" (with real world applications) which backs the other various form of cryptocurrency emerging. So the whole point of investing into shitcoins, is to hopefully convert them to bitcoins. (Which many of us cannot afford, is considered much more stable and may be around in 10 years or so) Before they are "dumped" similar to stocks and/or binary options

 

[srroc]

You made an excellent point there!

Agreed, great points but i think thats part of how you profit. You can purchase a new shitcoin duplicate (vauled the same as its parent) for a cheaper price and convert your funds for higher vaule? Please correct me if im wrong

 

[Wilson Grant Fisk]

are you into any coin at all ?

IMO this is an irrelevant question, but in the interest of transparency, no I am currently not holding any significant value of coins.

 

[bartosimpsonio]

One thing I've noticed is everyone is adding "blockchain" to their business prospect. Seems like if you want money for a project you gotta have blockchain mentioned somewhere.

Blockchain hamburgers and such.

 

[Whateverest]

Actually I was reviewing ICOs lately and 95% of them are total garbage. If they will be pumped just because of marketing and hype. Businesses are starting ones just to collect money and it's nothing unusual. I know some ICO projects & people involved locally where they had absolutely no clue how they will achieve their goal. The main goal was just to collect money first, THEN hire people and start doing things. Pretty sure that's how most of them do start nowadays.

Once again, I'm not crypto hater, I'm doing a lot of investments myself lately but I'm not lunatic either. A lot of these projects won't be here in few years or so or be abandoned ship.

First of all you should ask yourself - would it be useful & have real life use. Would you use it yourself?
It should be unique & not a copy cat of something else. Do your homework and make sure it's not another copy of copy of something, having no actual use.
It should have legimate team known in technology and business world, good reputation. You have better chances of trusting people with good reputation and widely known. Well obviously a well known business person wouldn't risk to be a face of a scam...
If you feel that things are starting to get fishy (team is always late to deliver, bullshit excuses... for example ELECTRONEUM had to say it) it's better to move somewhere else. Sooner or later, I wouldn't keep my profits on something that has sloppy future.

Good luck investing, put what you can afford to lose and don't listen to negative people here Irony and sarcasm may be on point but sometimes it's unhealthy, I have to agree...

 

[Mike Han]

so electroneum sucks??

 

[Wilson Grant Fisk]

so electroneum sucks??

Just had a quick look, an initial assessment is yes, that pretty much sums up what a shitcoin is. Am going to bed now but will take a look again in the morning.

https://electroneum.com/

 

[zionbar]

Just had a quick look, an initial assessment is yes, that pretty much sums up what a shitcoin is. Am going to bed now but will take a look again in the morning.

https://electroneum.com/

ETN isn't def not a "shitcoin". In fact its one of the better projects out there and is currently beta testing their whole platform.

Its def in its early stages, but itll be huge IMO.
Better do a more in-depth research before you comment mate.

 

[Wilson Grant Fisk]

ETN isn't def not a "shitcoin". In fact its one of the better projects out there and is currently beta testing their whole platform.

Its def in its early stages, but itll be huge IMO.
Better do a more in-depth research before you comment mate.

Definite shitcoin guaranteed, some people will make a few dollars if they buy/sell at the right time, but absolutely a shitcoin.

Total shitcoin , what a load of bollocks.

 

[zionbar]

Definite shitcoin guaranteed, some people will make a few dollars if they buy/sell at the right time, but absolutely a shitcoin.

Total shitcoin , what a load of bollocks.

OK mate, you're right!

 

[AlanWatts33]

ETN isn't def not a "shitcoin". In fact its one of the better projects out there and is currently beta testing their whole platform.

Its def in its early stages, but itll be huge IMO.
Better do a more in-depth research before you comment mate.

i hear both of these opinions, I just hodl a few and dont worry about it. The fact is that many of these projects' currencies/coins have no viable use case. Many of them will proably take the money and run one day. Just like investors, these projects look for contentment with a certain profit(actually like anyone in the real world) and they will sell off not just the coins but the project at a certain point. I will note though, that if you happen to be the lucky one that holds the .00001% of coins that will be mainstream in 5 years, it will be like you held verge from 2014 till now.

 

[zionbar]

i hear both of these opinions, I just hodl a few and dont worry about it. The fact is that many of these projects' currencies/coins have no viable use case. Many of them will proably take the money and run one day. Just like investors, these projects look for contentment with a certain profit(actually like anyone in the real world) and they will sell off not just the coins but the project at a certain point. I will note though, that if you happen to be the lucky one that holds the .00001% of coins that will be mainstream in 5 years, it will be like you held verge from 2014 till now.

Can ETN fail? of course!
Is it a "shit coin" ? DEF NOT.

A shit coin IMO is a coin that was made in order to make money with no intentions behind it, no strategy, no nothing.

ETN is the opposite, in fact they have a pretty big talented team, a very good idea, and they're beta-testing right now.

So again, these are "start-up" companies, but def not a scam.

 

[Wilson Grant Fisk]

OK mate, you're right!

Mate, don't agree with me, just for the sake of it, debate it.

The reason I posted the bit about Duncan Logan is when a coin is trading on the name of an investor and rather than it's USP then in my mind it is a shitcoin.
Now obviously real world investors, investing in businesses or other investments can have a effect on the market, but in Cryptos it is more Pump and Dump

Electroneum Crowdsale Success
One of the largest token sales, by user numbers, of all time.
Our token sale reached it’s $40M hard cap and closed early making it one of the most successful token sales to date, but more excitingly we reached in excess of 120,000 contributors and over 300,000 registered users and counting. We thank everyone who has purchased Electroneum and invested in it’s future.
Using this investment we have further developed a cryptocurrency that is aimed at the 2.2 billion smartphone users around the globe.
We have an app that allows you to manage your online funds by sending and receiving payments with the convenience of simple QR code scanning but it goes into completely new realms by offering the user a cryptocurrency mining experience, without the technical knowledge or specialist hardware that is required for Bitcoin or Ethereum mining.

They claim to have an unhackable wallet, as everybody does until proven otherwise. What sets them apart from other mobile wallets? Why is their coin special just because it can be mined on mobile?

This is the type of coin that people can make money from short-term but I don't see being around in 5 years as it will be obsolete because a bigger player (banks, cc companies, paypal) can come in easily and instantly take market share.

 

[zionbar]

Mate, don't agree with me, just for the sake of it, debate it.

The reason I posted the bit about Duncan Logan is when a coin is trading on the name of an investor and rather than it's USP then in my mind it is a shitcoin.
Now obviously real world investors, investing in businesses or other investments can have a effect on the market, but in Cryptos it is more Pump and Dump




They claim to have an unhackable wallet, as everybody does until proven otherwise. What sets them apart from other mobile wallets? Why is their coin special just because it can be mined on mobile?

This is the type of coin that people can make money from short-term but I don't see being around in 5 years as it will be obsolete because a bigger player (banks, cc companies, paypal) can come in easily and instantly take market share.

There was nothing to debate with your comment mate, u just posted a screen shot of one jackass that tweeted about this crypto, he probably got paid for it anyway...

Read my comment to AlanWatts that should explain it.

 

[Whateverest]

The "idea" of mining cryptocurrencies on mobile is the main horse of Electroneum. Well, you don't mine a shit on your mobile, it's just a game to incentivize kids, once again you DON'T MINE on mobile. So what's the fucking point of the project? Most of it was premined and controlled by the company.

I'm reading their Facebook page for fun usually, all the posts starts with: We're Sorry, We're Working, We're Trying, just a bunch of excuses to cover their failures.
When Apple does a mistake publicly their stocks goes down next second, well Electroneum was doing failures and shitty excuses for a months since the launch. And the community is a bunch of lunatics and housewifes. Yes, it's a shit coin. If you will make money of the hype? Probably.

Read my comment to AlanWatts that should explain it.

I don't know AlanWatts and his picks, though I've seen he was shilling Waltonchain left to right. Waltonchain is probably NOT a shit project/coin, though it's super disappointing, always failures and most of it's Masternodes (People who hold more than 5,000 WTC coins worth around 50,000$) drops daily. So it's not like that some 500$ "investors" don't like it. People who invested or holded thru a lot dropping it. It's a red flag and I'm out of it myself, been following it daily for months myself.