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Shitcoins- why and how to keep them at bay

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Shitcoins

Shitcoins, put simply, and as the name says, are crappy coins. The booming flourish of the crypto industry has brought to the fore an ensemble of developers aiming to capitalize on the surging momentum of the industry. But, honestly, not all such developers are worth their salt. In other words, there are plenty of casual and shady developers out there across the crypto industry. And it’s those developers who have developed shitcoins. Read here more about Multibank.io.

What are shitcoins?

Well, shitcoins are a kind of altcoins. These coins are usually the spinoffs of some popular cryptocurrency and they don’t have a signature model. There is nothing wrong or embarrassing in deriving inspiration from a successful crypto model. But to make its mark, a crypto project must be backed by a discernible purpose or a functional use case. Unfortunately, shitcoins are unable to add value to the market.

How do shitcoins work?

In other words, shitcoins are nothing but cheap copycats with no clear and defined objectives. Bluechip coins like Ethereum and Bitcoin have risen to popularity today because those were always backed by innovative objectives and specific functional use cases. As a result, these iconic coins can assure a thriving future.

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On the contrary, shitcoins fail to achieve a sustainable future as they do not follow a clear set of goals. You can say shitcoins are somewhat like utterly futile projects that are likely to vanish in oblivion in just a few years.

Does that mean shitcoins never rise in value? Well, no, that’s not the case exactly; shitcoins work based on market speculation. Running majorly on hype, shitcoins can shoot up to the moon if they can attract the interest of crypto whales and influencers for a while. But the problem is, the rise would be for short-term.

  • The pump-and-dump issue

A major reason why idealist crypto enthusiasts criticize shitcoins is because these coins are abused by self-centered whales for pump-and-dump schemes.

When a shitcoin is launched, it generally leads to huge speculation due to the marketing efforts of the project team. The speculation attracts a sizable volume of investors who are willing to “pump” in their money in the coin. Now, large volume purchases immediately shoot up the coin prices to an inspiring height in almost no time.

But, the “high-price” quotient is just a brief momentary phase for shitcoins. After a short while, the whale investors sell off some of their holdings for short-term gains. And what happens after that? As the biggies cash out, the coin price plummets down to a devastating low in the blink of an eye, leaving novice investors with worthless futile shitcoins. The pump-and-dump scheme might create big profit for whales but the system can be disastrous especially for amateur investors. This is one major reason why crypto experts always advise new investors to stay away from shitcoins.

How to locate shitcoins?

The crypto market is on a growing spree of late and new coins are being created after almost every month these days. High influx of coins makes it quite an arduous task for investors to figure out the best functional coins from the lot. And since shitcoins can show dramatic surges in price initially, novice investors might mis-take them as highly potential coins.

However, to save you from the trouble, experts have outlined certain hints that will help to separate shitcoins from the rest of the crypto lot.

Telltale signs of shitcoins-

No defined functionality

This is one of the most crucial signs of shitcoins.

If you come across a crypto project that cannot project a clear frame of functional use cases or objectives, the coin is likely to be a shitcoin.

Dubious developers

One of the first things that you must take care while choosing a cryptocurrency for investment is the team behind the project. Honest and ethical crypto projects have no qualms in bringing the core people from their team before the public. They know, faces and names assure credibility. But, it won’t be the case with shitcoins.

As mentioned previously, shitcoins are casual, futile projects. Their developers are not serious about the project themselves. Most importantly, they know that all they have created is a futile project and they will only earn a bad rap if they come forward. If a new coin is not transparent about the development team or uses ambiguous fictitious names, odds are, the coin is a shitcoin.

No defined roadmap

This is one of the most significant signs of shitcoins that investors are likely to miss out.

As mentioned previously, crypto projects that are unable to show defined goals are likely to be shitcoins. But what if a project has underlined a goal or use case? Could it still be a shitcoin then? Well, there is a probability that a coin that has already been mentioned about its use case could be a shit coin. But, not every such coin would be a shitcoin.

What you have to check out here is whether the coin whitepaper has also mentioned a realistic roadmap to achieve the mentioned use cases. If not, the coin is supposedly a shitcoin.

Extremely limited number of holders

Crypto experts always advise to check the volume of the holder base of a coin before making an investment, especially if it’s a new coin. Honest ethical projects generally mention their volume of holders in their websites or press releases. The rule of the thumb is to go for coins that already house 200 to 300 holders minimum. If a crypto project is showing a number below this range, even after being in the market for a while, consider a red flag. Coins with extremely low volume of holders are usually unreliable. More precisely, they are likely to be shitcoins.

Should you invest in shitcoin?

Well, you know the answer- the answer, in one word, is “No”.

However, there is no denying the fact that shitcoins can bring astronomically high profit even if it’s just for a while. Coins like Shiba Inu and Dogecoins have brought awe-inspiring returns, making investors millionaires in a matter of few days.

So, if you are one of those highly adventurous investors who are smart enough to get in and out of the market real fast, you might give a chance to shitcoins.

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Choosing an Expert Advisor for Robot Forex Trading

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Expert advisors (also called robots) can be used to predict currency prices, although the results of these programs can vary widely. These programs typically have only one open position at a time. However, the positions made by different expert advisors can vary as well. Some will take the same positions after several local trends have occurred, while others may take completely different positions at different times.

Expert advisors

When choosing an Expert Advisor for Robot Forex trading, it is important to consider the drawdown statistics. These statistics tell how volatile the EA is. The maximal drawdown is the maximum loss the Robot ea forex has experienced since its last peak. A higher drawdown is a bad sign as it means that the robot is more volatile. For this reason, traders should be very careful about choosing EAs. They should also check whether they have undergone third-party testing.

There are several different types of EAs, and some have more categories than others. For best results, try to use a simple EA that allows you to test it before committing to a more complicated one. It is also better to compare multiple EAs rather than picking one randomly. Lastly, once you have selected an EA, make sure that you have installed it on your trading platform.

Forex robots

A robot is an automated trading system that makes the process of trading on the Forex market a lot simpler for beginners. They do not require any trading experience, and can be easily installed and configured. They come with user manuals and support staff who can guide you through the installation process. They are also designed with risk management features, such as a stop-loss order and a capital allocation per trade.

Traders can install Forex robots by installing them on their MT4 trading terminal. They usually have a demo version that can be used to test the settings before installing the software on a live account. The installation of a Forex EA on MT4 is a very simple process. First, open the trading terminal and click on the ‘File’ menu at the top. Then, select the ‘Open Data Folder’ option from the drop-down menu.

Legality of using a forex robot

One of the most important questions that you might have about a forex robot is: Is it legal? In most cases, yes. If you use an algorithm to place your trades, you can trade with a robot with the best performance without the risk of losing your money. But you must remember that trading with a forex robot is still precarious, because most of them only trade within a certain range (in pips, which stands for percentage in points). And while these robots can help you earn profits, they are also prone to a breakout and a large loss.

A forex robot can be either an off-the-peg system or a custom-designed trading system. It’s much easier to purchase a commercial automated trading system than to develop your own, especially if you don’t have experience in trading forex. There are many highly regarded systems out there, but some are below par or scams.

Trading strategies used by a forex robot

Forex robots follow the market and generate signals for trading. Unlike humans, they don’t make decisions on their own and can become greedy and ill-timed. They also require constant attention and can lead to fatigue, and a lack of focus. Forex robots eliminate these issues by automating your trading. They also allow you to program multiple strategies into a single expert advisor, increasing your profits significantly.

There are several different trading strategies that a forex robot can use to maximize its profits. The first strategy is based on trend following. When prices move in a certain direction, the strategy will take advantage of that trend to buy or sell assets. This type of trading strategy can make trades quickly and holds assets for short periods of time. A forex robot that follows a trend can be highly effective.

Reliability of a forex robot

One of the most important factors to consider when purchasing a forex robot is its reliability. A good robot must be able to consistently deliver profits. It should also be able to provide a history of past trades. Its win rate should be at least 60% or better. Ideally, a forex robot should have a win rate of more than 80%.

Reliability of a forex robot is important because it will ensure its profitability. Moreover, a reliable forex robot should be able to crunch data faster than a human trader. In addition to this, a reliable robot should also come with risk management tools. Without such tools, the robot can’t protect the bottom line and ensure maximum profitability. Therefore, it is advisable to stay away from robots without these tools.

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Bitcoin Lottery Review

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Bitcoin Lottery Review:

Some lottery sites resist show and do their things in a methodology that is entirely remarkable and excellent, including Bitcoin Lottery.

Bitcoin.com is one illustration of a site like this. Holy person Britts LLC is the proprietor of the business and furthermore oversees it. This site was made in March 2020 under the Bitcoin.com pennant, and it can possibly be one of the most thrilling things to emerge from a year that is moving toward being something to really remember. In this survey of Bitcoin Lottery, we will investigate how the site works and how you can utilize it to play in the lotteries that you partake in the most.

HOW DOES LOTTERY.BITCOIN.COM WORK?

Lottery.Bitcoin.com works, in every practical sense, in a very way as by far most of the different sites that give online lotteries. To get everything rolling, you will have to enlist for a player account on this site. Essentially squeezing the “Register” button will finish this occupation rapidly and effectively. You will, in any case, notice promptly the way that the website is novel in contrast with other web-based lottery locales. To enroll in a player account, everything necessary from you is a functioning email address, a secret word, and a username. You don’t have to give a huge scope of data to do as such (which is really discretionary).

The following area where this site has its own unique attributes is this one.  Bitcoin (BTC) and Bitcoin Cash are, beyond a shadow of a doubt, the most well-known cryptographic forms of money on the site, notwithstanding the way that it upholds twenty different assortments of digital currencies altogether (BCH).

Bitcoin. com

You should enter how much cash you need to store into your player account as it’s comparable in Euros before you can continue with the store cycle. After you have finished these means, you will be incited to pick the coin (or digital money) that you would need to use to set aside your installment.

Picking the lottery you might want to play from the various lotteries, choosing your numbers (or choosing to use the quick pick capability), putting your passes in your bin, and afterward looking at everything necessary for this direct cycle. After you have finished these means, the main thing left for you to do is hold on until the hour of the attraction to see whether you are a champ.

It is essential to bring up that as indicated by what we have gathered from the agreements of the site, the site serves just as a specialist for the lottery and not as a site for putting down wagers on the lottery. This suggests that the site will truly go out and buy the lottery tickets for your benefit assuming that you decide to make a buy on the site.

HOW Might I TELL IF THE BITCOIN LOTTERY IS A SCAM OR NOT?

To come clean with you, we have a sound measure of distrust in regards to any web-based lottery sites that are not even a portion of a year old. By and by, there are a couple of various things why we have a ton of confidence in this site. To begin, it is an individual from the Bitcoin Core improvement thing and even purposes the Bitcoin.com space name for its site. Despite the fact that Bitcoin has been the subject of some negative press, the actual brand has shown that it is versatile, and there is not a really obvious explanation to think that any Endeavor that falls under the brand’s umbrella isn’t genuine.

The second thing that makes our conviction that one might depend on the data found on this site is the presence of agreements. Since the circumstances are so sweeping, we had to consider whether we had at any point gone over such careful terms for a site before, and right up ’til now, we are not exactly sure that we have. The agreements are thorough and fill their need of safeguarding both you and the site well overall.

Client EXPERIENCE

The site utilizes a dim subject, which is something that gives off an impression of being moving lately, and this makes it very good-looking with regard to all pieces of the site. This format is fabulous, and we accept the site looks incredible generally. We seriously love it. Likewise, exploring the webpage is basic, and a route bar situated at the highest point of the page gives admittance to all regions of the site.

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The Cost of an iPhone in Bitcoin and Ether, Over The Years

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Apple’s latest iPhone costs 0.04 BTC now, versus its price equivalent of 162 BTC in 2011

Highlights

 

  • CoinGecko, the world’s largest independent cryptocurrency data aggregator, investigates the cost of an iPhone in Bitcoin (BTC) and Ether (ETH) throughout the years, since 2011.
  • Overall, the cost of an iPhone in Bitcoin and Ether have both plunged 99%.
  • This is largely due to Bitcoin and Ether price hikes of 471,387% and 211,178% respectively, which outpace the 33% price increase of Apple iPhones.
  • Apple’s newly released iPhone 14, set to retail from 799 USD, is equivalent to the price of 0.042 BTC or 0.510 ETH on the date of the announcement.____________________________________________________________________________________________
     CoinGecko, the world’s largest independent cryptocurrency data aggregator, investigates the cost of an iPhone in Bitcoin (BTC) and Ether (ETH) throughout the years, since 2011 and 2015 respectively.The research examines historical price data of Bitcoin and Ether, taken at the daily close on iPhone launch dates for each iPhone generation over the years. These prices were then mapped to the USD launch price of each iPhone, to determine the equivalent amount of Bitcoin (BTC) or Ether (ETH) to purchase one.

    Overall, the cost of an iPhone in Bitcoin or Ether have both plunged 99%, since 2011 for Bitcoin and the inception of Ether in 2015. As the price of 1 BTC in USD goes up, the amount of Bitcoin required to purchase an iPhone goes down.

    An iPhone 4S which retailed at 649 USD is equivalent to 162.2 BTC when it was first released in 2011, with BTC trading at around 4 USD. Fast forward to 2022, the new iPhone 14 retails 23% higher at 799 USD, which equates to 0.042 BTC – reflecting a 99.9% drop in the amount of Bitcoin required to purchase an iPhone.

    This can be explained by Bitcoin and Ether price hikes of 471,387% and 211,178% respectively, which outpace the 23% price increase of Apple iPhones, since the 2011 iPhone 4S model.

    The cost of an iPhone 14 in Bitcoin now, however, is 138% higher than the cost of an iPhone 13 in Bitcoin, last year. This is explained by the sharp decline of Bitcoin prices by -73%, from 69,044 USD during its all-time-high in 2022, to 18,859 USD on September 7 during the iPhone 14 release.

    The newly released Apple iPhone 14, set to retail from 799 USD, is equivalent to the price of 0.042 BTC or 0.510 ETH on the date of the announcement.

     

    Noting the findings, COO and co-founder of CoinGecko, Bobby Ong, commented: “We have witnessed Bitcoin’s tremendous price jump over the years, outpacing the price increase of Apple’s iPhone. Excited to see how this gap will continue to widen, in years to come.”

     

    Methodology

    The research examines historical price data of Bitcoin and Ether on CoinGecko and Mt.Gox, taken at the daily close on iPhone launch dates for each iPhone generation over the years, from October 14, 2011 to September 7, 2022. These prices were then mapped to the USD launch price of each iPhone, and then divided by its respective price data to conclude the equivalent amount of Bitcoin (BTC) or Ether (ETH) to purchase one.

     

    iPhone prices are obtained from official Apple Inc. announcements, with its 16GB (iPhone 4S to 6S), 32GB (iPhone 7), and 64GB (iPhone 8 onwards) base models selected for the study.

     

    About CoinGecko

    Since 2014, CoinGecko has been a trusted source of information by millions of cryptocurrency investors. Its mission is to empower the cryptocurrency community with an in-depth, 360-degree overview of the market. CoinGecko delivers comprehensive information from thousands of data points such as price, trading volume, market capitalization, developer strength, community statistics, and more. It currently tracks over 13,000 crypto assets from over 500 exchanges worldwide. For more information about CoinGecko, visit www.coingecko.com

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