Cryptionary

Shitcoin

1. slang

'Shitcoin' is a derogatory term in the cryptocurrency community, often used to describe a coin or token that is considered worthless, has no real-world utility, or is doomed to fail.

1.1

"Despite its initial hype, many investors now consider XYZ coin a shitcoin due to its lack of real-world utility and declining value."

2. characteristics

Characteristics of a 'shitcoin' may include solving a non-existent problem, relying on a flawed business model, failing to achieve its goals due to technical obstacles, being an outright scam, or having other significant issues that undermine its value and utility.

2.1

"ABC coin, which promised to revolutionize the music industry but failed to deliver any substantial results, is often labeled a shitcoin."

3. impact

Investing in 'shitcoins' can lead to significant financial losses. It's important for investors to conduct thorough research and due diligence before investing in any cryptocurrency.

3.1

"Investors who put their money into DEF coin without proper research suffered heavy losses when it turned out to be a shitcoin."

* All terms and definitions may update as the Cryptionary improves.

All terms

Multi Signature Node OP_RETURN Opcode Orphan Block Premining Privacy Coins Private Key Proof of Stake Proof of Work Public Key Pump and Dump Rekt Replace By Fee Satoshi Nakamoto Satoshis Schnorr Signatures SegWit SHA-256 Shill Shitcoin←Simplified Payment Verification Stop Limit Order Testnet Token Total Supply Transactions Per Second Transaction Transaction Fee Two Factor Authentication UTXO Trading Volume Wallet Whale Zero Confirmation