Bitcoin Forum

Can someone explain to me why would a new project claiming to be a news source want a coin or token ? There are some useless use cases in Crypto space today and I'm getting tired of these use cases

1. A bounty platform building a token, for what? To be use on the platform, this is crappy use case, sooner or later the price will be worthless, there will not be any demand

2. Blockchain is not IOT
Even though blockchain does not allow for modification of data, it cannot ensure such data is correct.

3. Blockchain Cities
I've come across few new projects from 2018 trying to build cities with A.I innovative ideas but this is too good to be real, this will never exists in the near future

4. Robotic Bartenders
Yes you heard me right, I can't actually recall the name of the project that introduced this use case, going to bars and get served by a robot, hmm some kind of I.ROBOT fantasy, this one got me launching  ;D ;D

Lol, I will like to add few ones too

1. Buy and selling of renewable green energy on the blockchain don't always work
2. Artificial Intelligence projects don't always work
3. Any Donation blockchain projects are scam
4. Voting on blockchain is not needed and haven't seen any that works, always end up a scam

Whenever I come across any new projects introducing these nonsensical ideas I run away instantly

It is really funny but even at that some of those projects will still get people who will invest in it which makes me wonder a lot of things. There were many of these projects years ago which were used for exit scam and so on but nowadays it is reducing gradually which means people have understood their game and trying their best to play safe although it can't be argued that there are people who will still invest.
Also, reading whitepaper is one thing, understanding is another and thinking of its best possible application in real world is the main deal; this last part (application) is the reason most of these projects won't work and enough reason to stay away.

I've seen people who made mistakes and never learn from the mistakes, people like this exist everywhere around the world, they dream of things that can't ever become reality, the fact is blockchain is not for everything in this world, some use case will never work no matter how many money was raised in the ICO or IEO

Anything different from
1. Means of payment
2. Privacy coins
3. Exchange Platforms and other normal reasonable use cases I'm definitely out

How about the following?
1. Casino projects
I haven't really seen any legit one, those that are still working till date do cheat too, you win too big you ain't getting your actual payment out, mostly scam and cheating devs

2. STO projects
Though this fund raising idea should be the most solid in crypto space but it just doesn't always work out, even some stupid devs opt from ICO to STO and everything came down crashing on them lol

I believe that many of the various ico's use blockchain cryptocurrencies and tokens only to more easily raise the funds for their projects, very few ico's that then actually rely on blockchain technology

if you think on Yanu, yeah it does seem as science fiction, but project seems live at the moment, did not saw any actual pilot project that they delivered, but they are here and there with some news regarding development, which is delayed compared to schedule, but it is a huge breakdown if succeed, which i must admit is not that realistic for me

one can check progress on yanu.ai and get more information, in case that you are interested

In one word any project that has a utility token which cannot be utilised is a crappy project. I prefer staying away from any project that comes with a utility token. Most projects listed on the bounty sections have utility tokens.

There are very few that are creating their own Blockchain or are working for the development of the Blockchain. These are the projects that every hunter should search for.

But some of these projects have not been able to deliver their products. Therefore you need to do a thorough check before you plan on investing or joining their bounty.

That's not the point mate, many of the projects with impossible use case on the blockchain always have high HYPES sometimes, not all of them are caught trying to exit scam, some will successful fool investors and they will raise funds easily but as time goes by you will end up understanding that the project can't work on the long run

This is not new though, it's like everyday we will see some crappy project comes in with such use case that most of the times it is really funny. And the thing is, there are still investors who blindly invest on such coins/tokens when obviously this project will go nowhere and the intention of the people behind is to scam people out of their hard earn money. Crypto investors should educate themselves first so that they won't fall of this crappy projects that's just crowding the crypto-space.

Don't bother it mate that old tricks are destined to vanish away soon, I believe that the crypto investors are already aware regarding that situation and they are already cautious while investing with those kinds of projects. Innovation is the key to shine in the crypto industry, those fiction based projects won't prosper for too long. it will eventually die, in the process but those science base projects with real and innovative use cases are going to shine.

My consign is people, they never learn, once bitten should be twice shy right? But not people in crypto space, they are filled with getting rich quick which is the real fact that's blinding them, just because a scam project use a trick and end up into thin air doesn't mean same thing can't keep happening over and over again, I don't know what to call this, too dense ? Maybe

I can accept those above this, but this one really annoyed me. Let say that robotics can do this job but what is the relation of the blockchain on this particular use t? I cant understand the purpose of blockchain for this innovation cause even without blockchain, people who are creating innovative advances could make this happen. Thats problem on cryptocurrency business even not related to appropriate use case they will insert it no matter what. Ignorance cant actually solve anything with the use of forceful attempt.

Id rather support crypto project inclined with trading. This is more trusted and appropriate.

I can't help but keep thinking that not all use cases will survive on the blockchain, investors need to realize this or they will keep losing money unnecessary, apart from trading, mining, anonymity, using coins as means of payment every other use cases don't caught my attention

I understand that the ideas could be looking like they are crappy but the reality and sad thing about them is that, execution is even worse.

When you are rich enough and you are insisting on these stuff more, you could actually make these ideas work. It all depends on tens of millions of dollars plus amazing workers that you hire with that money and you can make even the most stupidest thing work for you. A bounty platform? Totally can work, how?

You hire the best coders available, best designers, and you do marketing so extensively that it will get users eventually, spending millions on google, facebook and all other places for months and showing up EVERYWHERE regarding crypto would assure it works. This goes for all other ideas, idea being bad doesn't really mean anything as long as execution works.

I doubt that people or investors still invest in such projects in 2020, now that all we have left is IEO it will be hard for these bad projects to gain investors attention, the new investors rules is 'NO Binance or top exchanges for IEO' No investing, just like that  ;D

Different ideas may attract more investors because most of the investors think unique project idea will get successful for sure but if the project is harder to get implemented in real life then its not worth to invest so its important to analyse the use cases as well.