Many of us may have heard our precious alt coins sometimes referred to as shitcoins. Perhaps we were reading a forum or an article, and to our amazement our fine investment was derided with such a term. But how could such a well researched and active projected be considered shit? What did we miss? Well, first off, let's define a shitcoin.

Is it a coin backed by feces? Although I would be interested in such a coin, so I could pair it up with my large UroCoin investment, I have sadly not found one yet. So no, a shitcoin is not actually propped up by piles of feces.

So here I will debunk the idea that many alts are necessarily shitcoins just because they may not be worth as much as fancy, shmancy coins like bitcoin and ethereums.

1) No clear usage for the coin.

This is so subjective that I find it nonsensical. Who is to say that Taxicoin might not be used by taxi drivers? Why should they be chained to using old-fashioned fiat when they could instead use a crypto made specifically for them? Which is easier, using dirty old money or fancy digital coins that only take several hours to move on a block chain? Of course the answer is clear, crypto wins every time!

Some may question why dentists need Dentacoin, but what if a dentist can't open a bank account? Not everyone can, you know... they require documents and stuff. And BBQ coin makes perfect sense to me, I mean, who doesn't like barbecues? There are numerous uses for almost any coin, so to me this is a falsehood spread simply to lower the price of our valuable cryptos so hungry whales can gobble them up at cheap prices. For shame!

2) No development team, or anonymous developers

This argument also gets my goat. And I don't mean GoatCoin (another coin I am heavily invested in). Just because a developer wants to take a break from a project, it doesn't mean a coin is rudderless. It takes a lot of effort to set up a coin, so if a developer needs a break for a year or two, or three, that's understandable. Not every project requires large teams, some coins can get by simply based on how brilliant the idea was in the first place!

And some may dislike the idea of anonymous developers. Here I will put your mind at rest. Do you know who Satoshi is? No, you don't! So why would you need to know who you invested large sums of money with? If it was an ICO, you in fact should feel safer not knowing where the money is going! The developers are just taking a page out of the Satoshi playbook by remaining anonymous.

Sometimes developers may even provide faces... don't worry if they look like they are all wearing Guy Fawkes masks and have odd nicknames. That just means they are cool! And they like to code a lot. That's another big plus.

3) Coin isn't on a normal exchange or has low volume

I find this one too dismissive of the important part smaller exchanges play in the marketplace. Just because an exchange is in a foreign country with no vowels in its name, it doesn't mean it's not as good as Coinbase or Gemini or Binance. I feel perfectly fine providing my license, passport, personal information, address and personal photo to such exchanges, so you should be fine with it too. Remember smaller exchanges can grow into bigger exchanges over time. I don't find hacks a deal-breaker either, just because an exchange lost most of its money isn't a big deal, we all make mistakes.

As for volume, we all know daily volume can change in the blink of an eye. So what if a coin has $3 worth of daily trades, tomorrow that easily could be 3 million. It doesn't take much to improve volume, just millions of dollars.

4) Price of coin is low

Did you know that bitcoin was also very cheap years ago? I even heard a rumor that people used to buy btc using pizzas. Now my piles of altcoins might not be enough just yet to buy a pizza with, but I still have hope that one day I will be flowing in pizzas. So price is meaningless, look at the bigger picture, you are doing away with the outdated fiat model and going with the future of money ... now!

Since I have clearly debunked this falsehood that many alt coins are shitcoins, can we say any coin at all is a shitcoin? The only coin I can find that I would call a shitcoin is actually named ShitCoin (SHIT), and it has been delisted from exchanges. so we don't have to be concerned with it. But everything else are actual working projects destined for real world use and high prices ... enough to buy pizzas with and everything. Don't miss out!