The worst thing is that the majority of people use Shitcoins on a daily basis without even realizing it. Fiat currencies are the best example of Shitcoins.

Bagholding + non-obviousness = extreme defensiveness.

The dissonance lit has very interesting examples of this sort of thing. When / if btc's dominance ever feels secure, defensiveness around this topic, and the usual maxi cliched topics, will melt away.

Nobody is arguing that hard against the flat-Earth people.

It's useful because it's very simple.

It's also useful because altcoins quite often scam people out of their life savings and make many people mad. This makes them deserve the pejorative 'shit' sewed onto their names.

It's also fun, grandpa.

99% are indeed shitcoins. human nature tends to group things together, we have pink sheets and S&P 500 etc long before shitcoins.

I was kinda shocked when I heard it the first time too, such an emotionally laden term. But then I understood the importance of calling things for what they are.

All of these other “alt-coins” don’t have a real value proposition more than “let’s make some money with my friends” while piggybacking on Bitcoin’s solution and claiming a decentralisation they don’t have.

Let’s not lean into some sort of disturbed kindness or political correctness, it’s a good term to describe what these coins are: pure shit!

If I'm talking with non-Bitcoiners, then I'll use the term "altcoin" because I don't want to put them off with strong rhetoric that sounds unassailably dismissive.

If I'm talking with Bitcoiners who already align with my views, I'll use the term "shitcoin" because it's more casual and kinda funny to me.

I also try to separate utility vs. investable asset when it comes to alts. I keep an open mind (I think) and conceed there are some neat things you can do on ETH, XMR and even Tron that you can't do on Bitcoin. But that doesn't make them good forms of money one should hold. The failure to recognise this distinction results in a lot of pointless and circular disputes.

I think the market embraces things when they are useful, if they are not they will be grouped together with things that are not useful, so many of us use generalisations, because they are easy to understand. Of course people just pile on and call everything a shitcoin, like ledger wallets or Liquid side chain, and thats where I kind of get dismissive about the term, because thats not helpful those things need more context

But as someone who used altcoins and they failed for my intended purpose of saving to me they are shitcoins

I hear you. It's childish and not professional at all, and when whipped out in serious discussions just ... well some validity from the point trying to get made gets lost. However, using altcoins gives too many cryptocurrencies way too much legitimate power, so personally from being repelled by the use of shitcoins - I now use it myself to clearly convey my position haha.

It's part of the jargon and I don't love it. When talking to newcomers or other interested I try to not use the term, and not even altcoin. There's Bitcoin and then there's other copies, and that's what I try to convey. I will always explain that these other cryptos are called shitcoins for a reason though.

Worth to note is that I am not the type of maximalist who dismiss any other use of the tech, because being so close minded will always fail you.

I don't often use the term shitcoin, but I always do when referring to CBDCs

Yeah, I don't like the term, personally. I know it's probably old fashioned but I try not to swear as I buy into the idea that swearing generally means a lack of vocabulary.

I wish they were called scamcoins or something that was more descriptive.

I use the term, but limit its use to fiat shitcoins. Cryptos are the more noble kind, because at least they're privately issued.

From what I have read I would say it started around 2017-2018. I was an early listener of the Keiser report and I think before 2017 the founder of Cardano has been invited as well to talk there so at least until around this time people were mixed. In my case I don't use the term shitcoin but... I never met Bitcoin people or Altcoin people in real life so didn't have the opportunity to discuss that anyway.

Toycoins doesn't sound as sensitive as shitcoins.

Bitcoin is THE digitally scarce commodity. There are others.. some may have various merits.... but they suck. Lets call them shitcoins

They all shitcoins.

on the Siddhartha paraphrasing, of course he did not say words to that effect, he didnt need to. but looking at Indian or later commentaries and theyre full of words denouncing supporters of views that aren't inline with the author. so I don't think that analogy is the right one.

I mostly use the term shitcoiner among bitcoiners, but from now and then...

That claim is borderline woke, I couldn't care less about a shitcoiner's feelings.

Also wouldn't hesitate to call them iqsixtyfivers. It's not a discussion about technology, its all about how to fix money. They are choosing to ignore why fiat is broken by emulating more fiat BS, instead of central bankers, central wankers.

The wheel has been invented. Move on.

Anybody using the word shitcoin to refer to all altcoins instantly loses all credit to my eyes. It's disrespectful to many great projects (their devs, their communities, their users) and it's overall ridiculous. There are real"shitcoins" for sure, but stating that all altcoins are is a nonsense.

It's a straight forward way for bitcoiners to seperate Bitcoin from crypto and explain that there is bitcoin and then there is everything else. See it's real catchy too. Maybe it has lost its effect over the years due to overuse but it is still an easy way to get to the point.