TAG: #scamcoin

Shitcoin

A cryptocurrency that is typically built on poor fundamentals, or any cryptocurrency in general that fails its intended uses.

Shitcoins are often the result of money-grabbing ICOs or outright scams/ponzi-schemes.

The term is also used loosely in disdain for any particular coin that an individual may not like.

EXAMPLE USAGE:

Ted: Hey did you hear about Gymcoin? Its a new cryptocurrency used to decentralize gym memberships world-wide.

Bob: Sounds like a shitcoin to me.

James C. doesn't have a picture.
James C.
Posted on July 8th, 2018

Scamcoin

A cryptocurrency that operates with the sole intention of defrauding its users. Typically, coins that operate as ponzi schemes or ICOs that make false promises are the primary culprits of being scamcoins.

EXAMPLE USAGE:

Tim: I think I am going to invest in Bitconnect because it promises 1% daily interest!

Bob: Don't do it, that is a ponzi scamcoin.

James C. doesn't have a picture.
James C.
Posted on August 7th, 2018