What is a Shitcoin❓ 💩🟡🤔

Imagine a company that issues stock...and that's it. That's literally all it does. There's no product, and no service. Just empty stocks and empty promises. With none of the full disclosures one would expect from a company going public. That's a 💩coin.

25 things ANYONE who buys a crypto should be asking and figure out long before plunking down their money:

1) How many coins are there? Is there a limit? (Will inflation be a problem?)
2) Is it a Mined coin? How often are new coins created?
3) Was there a Pre-Mine? How many coins? Who got them and why? (Alt-Coins are unlikely to disclose this. The SEC will be looking into this because it's considered FRAUD).
4) Is there an issuer? How do new coins come into existence?
5) Is there a CEO, Foundation, Group, Corporation behind the coin? Who are those people? What is their history?
6) If a group is behind it, how much control do these people/groups/foundations/companies have over the coin?
7) Can the coin's code be changed? Has it ever been changed? If so, why?
8) Can the blockchain be changed? Has it ever been changed? If so, why?
9) Is the code 'Open Source' so anyone can read and audit it? (Backdoors, unwelcome surprises later on?)
10) Is it 'Proof of Work' or 'Proof of Stake'?
11) Who are the largest holders of the coin and how did they get their coins?
12) How often is it traded? (HODL?)
13) Where is the coin based? Is it centered in a country known for financial fraud and lax regulations? If so, that can be a HUGE red flag (see SBF/FTX for details).
14) How long has the coin been around? What is its projected lifespan?
15) Who controls the network used to send/trade? How powerful and secure is that network?
16) Is it Centralized or Decentralized?
17) Were there disclosures before the coin was released? (Or just flashy gimmicks, videos, hype?)
18) Were there any 'Pump & Dumps' associated with the coin?
19) Are journalists paid to write favorable articles about the coin, or is news about it organic?
20) How many users & wallets for the coin? Is the user base growing? Is it popular and will it stay popular? Why or why not?
21) How did it get its price? Was a price just slapped on it, or is the price free market based?
22) Is it a safe asset to buy then leave untouched for a decade or 2? Will it still be around, heavily changed, devalued, inflated?
23) Is the coin focused on 'Quality over Quantity'?
24) Are their applications for the coin? Does it have a reason for existing outside of making money?
25) Have any countries, apps, games, business adopted the coin as a payment system to give it legitimacy?

A Pre-Mine is a 🚩. Pre-Mine is when a crypto issuer makes a bunch of coins out of thin air, gifting it to themselves, moving them across exchanges to make the coin appear more popular than it actually is, or in the case of SBF/FTX's FTT Token; using that pre-mine supply as collateral to take out bank loans and artificially inflate their net worth.

CEOs/Foundations/Corporations behind a coin are weak points subject to attack. They can be bribed, threatened, shutdown, go bankrupt, get arrested, leadership can be fired or replaced, and the coin can whimsically change in a multitude of ways. Why would anyone want that risk with something so unstable and volatile?

If you can't safely walk away from your stash for 10 to 20 years and later reclaim it without concern of the blockchain being different, code being changed, inflated supply, limitations, or the coin being extinct RUN! 🏃

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₿itcoin (BTC):
bc1q63xshh2c2u4tvc6jksl5crlhtp554qu0l4nn8j

₿itcoin Cash (BCH):
qqms8t79e6rk5z5djad360d38y9kkqnh7yfpxkkuy5

₿itcoin SV (BSV):
1F6oH8qkMjswViJSwq965gRivE3DqKuJKC

Litecoin (LTC):
LgxrUdjUxnmFGLtsAbh76C3aAm3dXAGDFV

Dogecoin (DOGE):
DGn5bkC9WM1E2oM79HWiYoVxE3rHuEGkoS

Ethereum Classic (ETC):
0xC03AEe5333D50a20810e1A7585D9BB3f77E0B773

Ethereum (ETH):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Shiba Inu (SHIB):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Chainlink (LINK):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Polygon (MATIC):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Ripple (XRP):
rwvGofsMZQMyqro9YPe7swpo6C6Kagpg2e

VeChain (VET):
0x6410f2e05fEF8169bd1A6935884B9D4D56D9017b