The term shitcoin I found in some of my experiences in the blogs of criptomonedas, these coins are characterized by the famous pump and dump, in which a group of investors or even bots programmed, invest in currencies Low denomination amounts equal over a period of time to make the appreciation of such currencies rise and make them more attractive to those who are going to invest.
The pump arises when these bots progamados invest constant amounts, that is to say they buy the same amount of money order after order, could be said in questions of seconds and thus to make said coin more striking for the unwary who look for where to invest their bitcoins, after to have obtained Their commitment and having capitalized the price 100%, 200% and even 1000% bots stop buying and sell everything at the highest price, large amounts that destabilize the market is there when the dump happens.
Many investors (including me) have fallen into this trap and we see how a currency rises quite well in a short time and then fall to 1 satochi. An example of this can be seen on the Yobit.net change page (Aclaro; the change page is not bad just that it has many of these unknown coins that in hours go from 1 satochi to 0.1 BTC to then return to the 1 satochis and see how our investment disappears)
Well dear friends of the steemit community I share this post for those who ever want to invest in unknown cryptones, my council is better to have a good page and a great community to back it up not to fall for this trick.
When you see a coin double in value in one day, that's a red flag of a pump and dump, and it will sink as fast as it soared.
I'm new to steemit , I would appreciate if you helped me by following me
Check my blog, I wrote a couple of posts for new comers on things to do and not to do. If you need help building your followers, check the @minnowsupport project. Good luck.