Bitcoin Forum

We have seen a lot of token/coin with the term utility. Everyone come with a shit idea and say the coin will be utilized in this platform, network etc. But how many of them were ever succeeded? Mb8coin is yet to announce that their products can be bought with mb8coin. Lasr time I see they were discussing about accepting half with mb8coin. How can they say like this?
How many utility token/coin you know have real acceptance in their said/promised network? Please share some of them.

Nothing.
I've participated in many projects with this type of token. Even though they achieved the sales target, the team didn't provide services to activate the token function. All time is only a plan. Tokens are only allowed to circulate on the exchange and eventually, their tokens seem to lose their original function and don't differentiate from other junk tokens.

Not so many have the use cases or purposely utility of their token as promised. But as far as I can remember pundiX tokens have been used globally on their XPOS machine of their affiliated partners and firms. Apart from being utility the only I know who really uses this are the exchanges as they make discount on their tokens for using the exchange in trading such as Binance, Kucoin, bitmax and many exchanges.


With regards to new project. I think cartesi has a good grip of usijg their ctsi for their current dApp to fuel their tower defense game but this is still on beta phase. Like also the use case of mb8coin, I think one of the altcoin that really works like other utility tokens.

Believe me not all projects will fulfill their promises and aims, some are just for the sake of promoting the project and that's it, once trading start on exchange the team will feel relax and you won't hear anything good about development again

You are right not even visiting the telegram group that they are active answering any queries from investors at start. they are only using nice words and promises at early stage of ICO, but after its complete they will abandoned the project after making money  from it. I also see many project deleting all of their social media channel after the success of ICO.

There were many promises of utility coins and hardly any delivered. Some coins that host other sidechains or dapps comes in work once a token/dapp is issued over it. ETH works in that way, TRX is quite famous among gambling dapp like wink, EOS too has it's own dapps. Rest of that genre, every utility token has failed to deliver be it Vechain, one of the oldest retail token.

Just look at this coin: https://coinmarketcap.com/currencies/polis/ (https://coinmarketcap.com/currencies/polis/)

And some of the things you can do with it:

https://twitter.com/PolisPayApp/status/1238173272845385729 (https://twitter.com/PolisPayApp/status/1238173272845385729)

https://medium.com/@PolisBlockchain/polis-project-q1-recap-01-01-to-03-31-ba6a4ab60f31 (https://medium.com/@PolisBlockchain/polis-project-q1-recap-01-01-to-03-31-ba6a4ab60f31)

And a VISA debit card soon. You will be able to spend you coins just like fiat. This is a sleeping monster that will explode in the next months.

I'd rather stick with Bitcoin and Ethereum instead of any utility tokens, they never live up to their standard, belief me I've followed many in the past and till date they don't met up to my expectations

As far as i know if DAI is the best coin with various utility on its own platform and if you are looking for another utility token and you can try to use https://tokenmarket.net/blockchain/all-assets to get the more list to the utility token. It's a database that created by token market. I would not say if you can trust it 100%

They were just hard at the beginning, convinced the investors that their project would succeed, but, in fact, they would only succeed in raising money. You can only see roadmap plans but not always what you expect to happen. It is s also difficult to build a project that is just in mind and out of work especially in today's highly competitive environment. They thought that listing on the exchange would be okay, but that should not end there. They will continue to fulfill the promises they made when they were just starting out.

The value of the token depends significantly on the value of the particular service. One has to wonder how useful a product or service they offer is to attract a user to their network? Only a few projects offer real utility purposes for their tokens, most of the others are either scam or failed to meet the expectations of investors.
I am sure that the vast majority of projects could be executed quite well even with existing coins without the need to create a dedicated token.

indeed many functions actually are promised by every project for users who use what they have. but personally I do not really understand about the function of the token. so who understands the function of each of these tokens is not us, because we only want our tokens, have a sale value in the market

Yes, that's right, indeed not all projects can realize their promises and goals well, only a few projects are able to make their goals and promises go well, so because of this everyone must be clever in choosing projects so that we can all be lucky and not be deceived by projects that are not qualified.

There have been a lot projects in crypto space who have used the world utility to utilise the investment of investors for their own benefits. Till today there are so many projects coming up with the same idea.

None of those utility tokens have actual usage and in my opinion it is always safe to stay away from such projects in the first place.

It's sad. I really can not see one good project of utility token. Everyone promises in the roadmap and forget everything after raising fund.

I know about Polispay and they are doing good till now, no doubt. But with such a utility token, they are not going too far. Anyway, thank you.

The casinos that does have their own utility token. It's not the actual product but you can enjoy using their very own token to dice or any game that they have on their platform. And the same scheme with the exchanges that they have.
I haven't looked to the polispay but looks like it's quite popular to the others because they're suggesting it.

Noway days In the cryptocurrency industry has too many Cryptos and Tokens.

I'm really excited about Playfuel and Homeros Utility Tokens. These Tokens are new to Crypto Industry I have Researched about their security system and concept. It's really nice and profitable for Gamers, Developers, Investors.

Just check their websites get more details and please share with me if you got any issues.

Playfuel - https://playfuel.io/


Homeros - https://homerosnet.com/

Little Mouse, I guess you're missing the aspect that crypto investment is risky (especially new project) and investors should only invest the amount they can afford to lose. Besides, i also believe you didn't notice that 96% of a new project that enters the crypto market/launch their ICO or IEO in the year 2018 used hype to get their investors, an example is karatcoin (https://bitcointalk.org/index.php?topic=5018893.0) which the project team is nowhere to be found. But the MB8 case is somehow different because they are live now and if they are accepting half of MB8 to be use by people is because they want to make sure the price of MB8 is appreciating which is what all new genuine project are doing these days.

The users who tend to invest in these type of coins are the ones expecting the project to have a community that trust the team to develop a good platform. ETH is one of the utility tokens too. There are some that succeed and some didn't. Picking the right project I would be crucial to bounty hunters in order to get paid. Mb8coin launched their project in critical times, they're lucky they still have survived the season.

Excuse me. ETH is not a utility token. It's a mineable coin. It's ETH blockchain that  many utility token use as there ecosystem. You will notice that most token is a utility token so that they will have no hassle against SEC. As you notice, SEC (don't have/maybe have a little) jurisdiction against utility token IEO/ICO that's why it's the perfect way to do ICO/IEO without any much responsibility by the team.

I could remember in early 2017 there was nothing like Utility tokens what most project does is to launch their own blockchain but when ICO gained momentum and SEC started showing interest in the space the developer coined the words Utility tokens. Most of these tokens are useless and have no utility function.

I still believe in utility token, most utility token has failed because they dont solve relevant problems and the utility channels are not well developed for users. Ethereum was not developed immediately after bitcoin but he had so many utility channels and well developed, this helped in the trade volume and use. exchange tokens also share the same fundamental and had help them to thrive

Almost none of the so called utility tokens have any of usage. If you look at their roadmap, you will find that they never keep their promise and make the roadmap ssuccessful. Even if they do, they fail to reach the potential sector. Then why do they claim to be utility token?

The most success utility token is binance BNB i think. There are few utility tokens too, you can search on coinmarketcap.
I think the token success will depends on the team and the project, not because they are utility token.

In this case, judging from Little Mouse's view, MB8 coin raised a lot of funds during months of their fundraising. They promised that they will accept their coin as mode of payment, which was a lie. Price of goods on their website was more expensive than other popular stores. And they accept on few MB8s (1-5%) of price

I can barely remember any because the team tend to deviate from their main aim once they are listed. It is a common practice among project team that in the initial stage of their project, they will be or rather look serious, attending conference etc but once they have achieved their aim of getting the required funds and get listed, those ideas will be no where to be found, developing their use case or product which will drive utility to their token will then be a herculean task. Thus, I can't remember any token with good utility.

It seems that some of them do not yet know what the utility token really is. They must first be informed about them and understand how they differ from other tokens. Almost all tokens just hope to be listed on the exchange site and they think that is enough for them to say they are successful. They must show that their product or service is functioning properly as expected by their investors and supporters.

I agree with you, I think the term utility is more on theory than in practice, we have so many project that claim their tokens are utility, yet no single usage has been made with the token anywhere, not in their so-called platform or any other platform for that matter,
And what is even more funny is the money raised during this ieo/ico sale where suppose to aid towards the development of this platforms to enable the usability of this coins/tokens, but for some reason all you will get is excuses and promises of given updates soon, so far only few coins/tokens can boast of being a utility.

If I recall it correctly, the majority of my tokens are for staking to get more meaningless tokens ;D

Some also allow me to get discounts for using its services (e.g., exchanges), and get meaningless airdrop as well.

Conclusion: utility tokens are useless atm and only being used as a currency.

I totally agree with you on the submission that most of these project tokens really offer no real utility. They often get away with these paper scams because of the gullibility of investors to understand that utility is a practical thing and not just for whitepaper decoration. Investors really have a lot of conscious learning to do

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I wouldn't say all are useless because I know a project in partnership with Binance and Okex at the moment which serves as a payment portal for commerce outlets in Hong Kong e.g. Pricerite. The utility token can be used in Cela Vi hospitality outlets too. So I believe that some of these few projects still offer practical utility

You are right mate, Until now I think BNB is a successful utility token in this market. BNB is used in the Binance exchange for a variety of purposes, and this has caused the price of BNB to soar at the moment.

Most times, utility tokens are tokens that have reserved to function in a certain platform.
The platform then utilize such tokens as a way of rewarding good contents, reward affiliates amongst other functions as staking.

It is ususally on the etherum blockchain, and some use the stellar platform too.

Some of this projects are set up for short term income but to the public they claim long term that's why they relax in their comfort zones after they have made money from ICO, laughing at investors at asking several questions on their social media accounts

Not trying to bad mouth, just sharing my experience.

Sandblock, I had done bounty of it in 2017, they had promised that sandblock token  (SAT symbol) will be accepted by multiple retailers by q4 of 2019 but guess what not no partnerships have been announced whatsoever. Now, they have even removed the roadmap. What's purpose of roadmap, if you gonna remove it whenever you like?

These people keep sucking investors as long as ICO is running, once it's over. They fuck you. The ICO price was around 20 cents, right now it's not even on single exchange.

It's been going to be 3 years in August this year yet the progress has been less that an ant's penis, oh wait ants do not have penis, fuck there is no progress either.

/rant over

There are quite some number of them that have succeeded in achieving that goal, although the ratio to failed ones are no where to write him about. The like of exchanges native tokens and that of gambling platforms are some perfect exchange although most of this tokens become worthless quite easily as their utility are restricted to their parent platform, that's if it should go down they (the native tokens) goes down with the platform.

The problem is that scammers always leverage on tending ideas to defraud gullible victims. Since the topic of discussion lately was about more utility for cryptocurrency, they seized the opportunity to decieve Investors into believing they have something unique to offer but all they're after is the potential money to be stolen. The legit project that focus their project on offering utility to the community are doing quite well, use BNB as a case study.

There are many projects that fail to produce products that can make money and this is what makes the token utility not successful on many projects. New projects usually duplicate projects that are already successful and this makes it difficult for new projects in development and marketing because they certainly require large funds

Utility? Does that still work? Maybe it might have worked before but nowadays, most project's team, their aim is to make money, some can manage to list to justify their investors and whichever way, once they are listed if at all they will, it ends there. Many projects today don't care about that word and it is alarming; we shout about mass adoption but the projects which are to set it in motion are busy filling their pockets, am not stating mass adoption won't be actualised but first there is needed for the utility of these tokens to be upheld.
Only a few are really trying to make sure their token have utility but more needs to join.

I do not know if they will ever be able to achieve that, particularly projects with tech products. Sone that already has their platform running have included the option of using other cryptocurrencies, such as ETH and BTC because they are already established and accepted in so many places.
The set of utility tokens that I believe are very much in use are exchnage tokens. If you look at an exchnage such as Binance, CZ has serious put it into use. If there will be any IEO, that is the token that will be used. So many other exchanges have also done the same, such as Huobi. This has helped to add more value to their tokens.

Yea, only a small fraction of them have some (limited) utility. Like I said, the majority is for staking purposes to get discounts and airdrops. ETH and EOS, for example, are also a utility token to use its network. But in reality, most users haven't deployed any smart contracts, but only use it as a currency. If it's for e-commerce, they can directly use existing cryptos, and no need to create another token.

In other words, I haven't seen any utility tokens that I desperately need to "consume."

Here (https://deadcoins.com/) you'll find the list of shit/dead coin, scam etc.


I think the problem of utility token/coin are from the team because their project wont survive if they only base it on utility while they ignore the parent platform and this was what Binance CEO understand when he make BNB for exchange activities payment and acceptable by stores owner in some part of the Asia.

These have been the strategy used by crypto scammer from the beginning and it the duty of crypto investors and enthusiasts to be alert.

Most token/coin makers do not really have any use so they are referred to as dead or shitcoins. Investors simply believe in fake projects that will never happen. It is noteworthy, though, that investors are now wise and have learned of the acute investments of 2017. But others have actually left the crypto world because of the irreparable damage caused by the losses.
It will take a long time for developers to succeed in their project, and every effort is made to make sure it works and is useful.
It should be removed from the goal that when listed and the value of the token is there they are finishing their work. They will make sure that it will continue to work because it will all be in vain if it is ignored.

I assume there won't be many useful tokens that could live for a year+ in nearest future, since the market is really fed up with all these useless tokens.
however I believe that there still will be a lot of partially useful projects that will be adopted by such giants like binance or coinbase
that way fresh developers could monetize their work anyway

I have never used a token utility for my purposes because some platforms are constrained by regulations. The development of the token utility seems to be stagnant and maybe only the token exchanger works just like in whitepapers.

I haven't use utility token for my want before but the reason why most utility token stagnant in terms of price is because most of them only base their concept on utility while they ignore the parental platform which they ought to put in their number one priority along with utility.