What is a Shitcoin and how to profit from it. - Crypto Academy / S5W8 - Homework post for nane15

in hive-108451 •  4 months ago  (edited)
Greetings everyone
Today I will be presenting my homework task for prof @sanchin08 , Which he lectured about reading special bar combinations, So without wasting much time I would like to start my work immediately.


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1.Explain your understanding of what a Shitcoin is.



Shitcoin was found from two separate words, That is shit and coin, Which comes together to form what we call the shitcoin. Each of the words has gotten ur own meaning. Whenever it comes to the crypto world the word shit usually stands for anything which is not useable by users and when it comes coin, I guess everyone is having an idea, Coin is usually defined as the cryptocurrency in the crypto world. From my researches I was able to found more than three explanations about the shitcoin and each has different explanations, So I will be giving out some of the explanations.

SHITCOIN : In some web the shitcoin was explained as any cryptocurrency which is not useable and it was been brought up by fraudsters for users to as victims whenever they try to saving or funding , That is they might lose all their funds.

SHITCOIN. In some web the shitcoin was explained as any cryptocurrency which always requires traders to having an adequate funds in other to participate when it comes to investing to be able to gain profit, This makes users funds unable to participate when it comes to investing.

SHITCOIN. In some web the shitcoin was explained as any cryptocurrency which is always having their charge on market at a maximum charge of not more than two dollars on the market, Because of this the shitcoin is normally not accepted by most users.

After some researches I was able to come to a conclusion and in my viewpoint the shitcoin is known to a cryptocurrency on market which is not getting the maximum attention or it has underestimated by users and with the shitcoin it is always giving some gifts to all users on market who were able to make early investment, This makes the shitcoin underestimated because not all users to benefit from the shitcoin. The Dogecoin is also known to an examples of shitcoin.

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2.Do you think it is possible to profit from investing in Shitcoins?



From my researches, I can boldly say users can make some adequate profits when they invest in the shitcoin. Most usually have some perception that all shitcoin is not profitable or not valuable, But I prove to you that some shitcoin is very valuable or profitable that users can make some investment in there.

All investors who would like to do investment in the shitcoin Must always take the advantage to be doing short period investment but not a long term investment. With the short period, investment users do not have a greater loss when they trade or investment doesn’t go to their liking.

In other for users to make some profits from investing in shitcoin, They must always do some good analysis about the shitcoin they are going to invest in, They must make all the necessary researches about their authors and also the exchange that the coin was built in and also they should be able to examine cryptocurrency white article. Whenever users are unable to find what is necessary about the coin they would like to invest in, They should not try to invest since fraudsters are also around and they can end up investing in the wrong way and they might lose all their funds.

For traders to gain profit from investing in the shitcoin, With the shitcoin it is always making the greater fortunes, In other to be greater than all the different cryptocurrencies on the market, This also has the chance to be altering the investor's circumstances, For all investors to he getting vast profits when they invest in shitcoin.

When you take a good look at all that I listed the shitcoin is one of the cryptocurrencies that users can also invest in there to make some good profit, They must always take the advantage to do good research about it before they begin the investment to avoid being a victim to frauds.

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3.List advantages and disadvantages of investing in Shitcoins.



ADVANTAGES.



  • Shitcoin also creates a chance for investors with fewer capitals to invest in shitcoin and get vast profits.
  • With shitcoin, all the investors always make extraordinary profits each time there is an explosion in a token on the market since it always results in a quick boost of the shitcoin.

  • The shitcoin always comes up with two options for all the investors who intend to invest, That is the users will be able to get a or a vast last in their investment.

  • When it comes to the shitcoin it always guarantees all the investors to be getting a vast rescue when they make investment.


DISADVANTAGES.



  • When it comes to shitcoin each time users make investments they usually do not get their recovery as they would like to get after their investment.
  • When it comes to the shitcoin it is always some bad perceptions that it is a fraud and prevents most users from investing.
  • When it comes to the shitcoin it is always recommended for making a short period investment but not recommended for a long period investment.
  • When it comes to the shitcoin, The percentage of investors missing their asset is very high.

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4.Of at least 3 examples of Shitcoin that have been a scam, also explain what they consisted of



THE BABY PANDA.

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source


The baby panda happens to be one of the scam of the shitcoin and it was able to get a lot of people's attention, An unidentified user created the baby panda and was specially created to work on the smart chain, All this happened in the year 2017. As we speak the site that was previously available for users to access and make their investment can’t be found at the moment and the baby panda is now at rate zero (0) on the market since it has been deleted from their site and is not operating anymore on the binance smart chain or any exchange, The panda has also been removed from all exchanges, So this truly tells us the baby panda was a scam and numerous people fell as a victim.



TronClassic(TRXC).

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The TRXC happens to be one of the scams of the shitcoin and it was able to get a lot of people's attention. Since it was been built as a public platform which is purposely utilized by users to be sending and also receiving assets. From the picture is uploaded it tells us that the TRXC was started in the year 2018 and after a year which is 2019 the TRXC stopped working, Also the TRXC was specially created to be an ERC-20 coin on the market, And besides the shitcoin couldn’t be able to gain high liquidity on the market and liquidity was also part of the downfall of the TRXC and as we speak the site where users previously access to make their investment is no more available, So this tells us that a lot of people will fall as a victim to frauds.



Babe doge BNB.

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The babe doge BNB happens to be one of the scams of the shitcoin and it was able to get a lot of people's attention. When the developers of the babe Dogecoin successfully discharge it the babe Dogecoin BNB was successfully released on market. In all these years a lot of users were thinking the babe Dogecoin BNB was genuine and also free from scams. This let numerous investors such as newbies and some amateurs invest in the coin without doing the necessary researches about the token they are investing, Due to inadequate researches they all fall victim to the scam, and last year in October the coin was officially stated that it is a scam.

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5.Explain at least two examples of Shitcoin that have been successful and are currently keeping it. (Other than Dogecoin or Shibainu.)


SAFEMOON.


The safe moon happens to be an example of a successful shitcoin, Very popular with people around the world and also a Decentralized finance token. The safe moon is known to be a cryptocurrency that was successfully initiated in 2021 in March, So when you make your calculation it is almost 10 months now since they initiated the safe moon. After it was launched it wasn’t popular until the charge climbed up, Where it was able to get the awareness of most users and this happened in April. So the safe moon differs from the other token Because the safe moon was specially constructed to be giving accolades to all users who take the advantage to make a long period of investors on the market and with the safe moon it always takes 10% tax as the vendor's payment on the market whenever they purchase the safe moon. With the 10% payment from the vendors as tax fees, Half of it that is 5% will then be added to the prevailing vendors on the market.

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From my coinmarketcap App as the time I was performing this task the safe moon was been

Ranked209
Safemoon Marketcap$1,262,145,481
Total supply1,000,000,000,000,000
Fully Diluted Market Cap$2,155,537,305
Circulating supply585,536.37B safemoon
Max supply1,000,000,000,000,000

FLOKI INU


The floki inu happens to be an example of a successful shitcoin, Also the floki inu happens to be an ERC-20 coin that was specially built to be on the ethereum blockchain. The name was gotten from the richest man in the world now called Elon musk the Shiba Inu happens to be the name of Elon musk dog so this is where the name was gotten. When you take time and read or go through the white paper it was clearly stated that the floki inu cannot be considered as a meme but rather an activity on the market. The floki inu was able to gain the world's attention when Elon musk made some tweets showing off his dog. From my examination at the ending of December through the coinmarketcap I was able to find out that the market cap was around $1,000,000,000 and this made me feel the floki inu will be having a greater future in the shortest time, Because after the launch of the floki in it not even up to a year but see how it is doing well on the market.

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From my coinmarketcap App at the time I was performing this task the floki inu was been

From my coinmarketcap App as the time I was performing this task the safe moon was been

Ranked2845
Total supply9,307,888,950,059
Fully Diluted Market Cap$1,529,433,857
Max supply20,000,000,000,000

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6. Question 6 - Perform a historical analysis of the prices of any of the cryptocurrencies that you chose for the previous question. (Use screenshots.)


With this task, I would like to go for the safe moon and examine. So when we talk about the safe moon it was successfully established in the year 2021 on March 8th, So the safe moon is quite new on market not even up to a year since was established. So after the developers of the safe moon, it price on the market was $0.0000000010. So this tells us that after the safe moon was established it was having a low price. From my researches, the supply of safe moon after it was released was about 777000000000. Previously the safe moon was regarded as token V1 Until it was able to move to token V2. Due to its improvements from V1 to V2. The token started increasing in price on the market. In my early task, I stated that most shitcoin always improves on the market whenever there is an assumption in the market and we can testify to the safe moon how it going on the market. According to this, all the investors on the market we're able to make their trade from their assumptions, So the time the safe moon token was able to move from V1 to V2, Most of the traders will like to buy and keep them in their wallets. So as of January first, the safe moon raised to a higher price of $0.003408 on the market. So all traders that we're able to invest in this safe moon coin after the coin was able to move to V2 from their assumption, This is going to boost their investment to make enough profit and they can also leave the market.

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7. Based on your previous analysis, what do you think will be the development of the price of the cryptocurrency for this year? Be creative when explaining.


Whenever we take a good look at cryptocurrency trading, not every time users or traders examine will favor them or go in their direction. Since it is a crypto market, You can sometimes lose or gain. So after the price of the safe moon was able to rise in price and later dropped is something normal in cryptocurrency. So this tells us that currently, vendors on the market has started earning pace more than all the buyers on the market so from my research I can boldly say the safemoon shall surely come back or rise in price. Besides the safe moon was created last year April, So the safe moon is not old on the market. So investors can still investors in shitcoin because the price of shitcoin will rise again may be higher than the previous high.

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CONCLUSION.


I will conclude by saying all users must always must sure to make necessary researches before they invest in any shitcoin, Since there is fraud and I do not want any user to fall as a victim so they must be vigilant. I would also like to thank prof @nane15 for coming out with such a great lesson.

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