And, today's post was prompted by an Email from the Bittrex exchange about the `shit coins' that had reached an end for them to list. A sample of the e-mail is below:
Thank you for using bittrex.com.
In an effort to remove dead and unsupported coins from our systems, we have identified coins with broken blockchains and flagged them for removal on March 8th, 2015. Note, that these coins have broken blockchains with no active dev and we can not send funds anywhere.
StabilityShares - XSI - blockchain broken (7.3million-800mc)
Mugata - MUGA - blockchain broken (2million 600 marketcap)
BankNote - BN - blockchain broken
PesaCoin - PES - blockchain forked or broken (20m,500mc)
IncognitoCoin - ICG - blockchain broken (20m, 500mc)
EquinoxCoin - EQX - blockchain broken
ScatterCoin - XSTC - blockchain broken (360,000, 22mc)
OptimumCoin - OPTI - blockchain broken
Diode - DIO - blockchain broken (4m,131mc)
Additionally, the following broken wallets will also be removed.
GhostCoin - GHOST
MoCoin - MOB
DarkSwitft - DS
Thank you for your time and for trading at bittrex.com!
Bittrex also has dozens of coins in a near similar state as does Bluetrade and the others. I pointed out on Bluetrade the other day how dead the Polish Coin was... One of many without even a webpage.... the lesson... check the coins out for a web presence at least.. look for reddit subreddits or something on bitcointalk for info before `investing'.
It's quite obvious to many of us in marketing for decades that many more `shit coins' are being made daily that have a `shelf life' of about 6 weeks at most. Even the most egalitarian ... that fit the `broadest' (such as a name Paycoin) definition ... will face HARD shakeouts for survival. After all... there's Mastercard, Visa, American Express, Discover... you get the idea... a handful... same goes for the banks... same goes for the world fiat currencies.
Eventually... Coin Market Cap will not have 537 currencies... IMO.
Many Think A Bitcoin Swoon Up To 1000 Again Could Kill The Other Coins
UNLESS...the niches to be served are fitted with the appropriately positioned coins - in terms of quantity and pricing.
To use a `stupid' example... Clean Water Coin.... 550 million available coins... worth 1/100th of a cent... marketcap 81,000 dollars.
While the coin immediately above it alphabetically `Clams' has about 550,000 coins and a marketcap over a million - worth today... 1.81, yeah nearly two bucks. I've had both coins in my Dental Floss Tycoon portfolio previously and have neither now.
But, each coin had appeal to me.. who doesn't want CLEAN WATER and a way for the world to fund it.... likewise... Clams... which is synonymous with real money... a coin that BETTER have value and be special for `worth'.
IMO both coins are being initially marketed in a realistically positioned manner. CLEAN WATER could have HUGE demand... CLAMS should be hard to obtain and positioned to be worth more. That said, IMO... Clean Water Coin ... nearly obviously... is NOT doing their PR job correctly.... and because of that has IMO way too many coins available. This coin SHOULD be easy to promote at a higher level... much higher marketcap level.
Whereas Clams... may wish they had more... as the viability of so few coins IF it became hot - could easily overshoot it's value compared to it's viability and usability compared to more established coins. But, that said, it's all a guessing game via the developers and name brand positioning.
Now, just to take a look at a few of the coins on Bittrex's `shit coin' list - the branding names:
StabilityShares - And WHO doesn't want a stable and rising coin?
PesaCoin - Positioned for the Spanish Speaking?
IncognitoCoin - WHO doesn't want anonymity?
OptimumCoin - Positioned to those loving efficiency?
My point is all these coins had a moment in time - (Pesa had a marketcap of 35,000 at one time... Incognitocoin - 60,000 plus... etc)...
These were take and grabs... IMO. Some folks are LAUGHING all the way to the bank as more get sucked into a name and a hole.
Which brings us to the video below: it ain't pretty as they say... I cannot vouch for the accuracy of the dialog... but... don't doubt it either.
10,000 Plus Have Seen This In Just A Day 20-1 Approval
very worthy comments at link too.
This is gonna take some time - can you imagine what happens when AND IF this video ever reached the non Bitcoin aware or other non users? Bitcoin as a ripoff game could only increase in awareness.
BTW READERS - I'VE DECIDED TO TRUST THAT GOOGLE KNOWS THIS BLOG CONTAINS NOTHING ALREADY THAT SHOULD FORCE IT BEHIND AN ADULT SCREEN NOR RENDER IT UNAVAILABLE TO THE PUBLIC IN GENERAL (IN A FREE SOCIETY) ON MARCH 23RD BASED ON THE ARCHIVE. NOR SHOULD THE CURRENT MATERIAL ABOUT BITCOIN BE VIEWED AS ADULT ONLY OR DANGEROUS.
IF THIS BLOG VANISHES ...AGAIN.