Bitcoin Forum

Lately i been looking into altcoins more and more since I have got some more money in my life and want to make more investments then only in BTC.
One thing I was wondering is why nobody yet have created a crypto currency under the name "Merit" yet. :)

it's many smart people on this forum with a lot of knowledge about things like this and I think it could be a good currency to create. :)

I hadn't even thought of such a thing until you brought it up. Now I was wondering why nobody created such an altcoin. After all, bitcointalk is the largest forum in the crypto money world and keeps the pulse of the crypto money world. More importantly, our managers could have created such a cryptocurrency, and I think it would produce really good results. Most likely, the forum did not approach because it is a large platform, and they may not have approached because they did not know where the results could lead.

Merit is like giving things for free, so probably this is the reason why they don’t want this name because people might think its a free token.

Well, most of the token nowadays have a weird name and they are following the trend to get more attention from investors, having a Merit name is not that attractive I think.

If you’re planning to use this name on a new project, then make it more interesting.

Why would that name make sense over any other name? You don't create a currency because you think you have a clever name for it. It wouldn't have any fundamentals other than that and no real reason to exist.
Also there is a crypto called Merit in coinmarketcap, not only that, there's Merit Circle and Meritcoins. Most likely there has been several tokens that didn't live up to be in coinmarketcap.

So to answer to your question, it isn't a good idea to create a crypto just because you have name for it.

It's not catchy at all.

And these names being decided by developers depends on the actual use case of the project and token that they're developing. Well, I've seen those projects that's named really close to what they're offering.

But it is that not many of them became successful. And you don't have to be problematic about it when you're focusing into Bitcoin but if you want to get into some of it, you'll have to do more research into altcoins.

It is interesting that it hasn't been used yet. Anyone can create their own cryptocurrency or token, so it is always a possibility that someone might take up the idea of creating "Merit" as a cryptocurrency.


But what would be the purpose of such a cryptocurrency? If you think admins should integrate "Merit" or any other cryptocurrency into this forum, I highly doubt it is going to happen. This forum is all about supporting Bitcoin, plain and simple. It is the main star here, and everything else takes a backseat. Sure, we have a section for altcoins, but discussions and information about Bitcoin take center stage.

you know those altcoin created with name that's good for marketing purposes, the name merit in itself doesn't really suits that from my opinion.
there are most certainly reasons why so many are also preferring the dogs name like shiba because the general masses are already familiar enough with the name of the coin.
therefore any attempt of creating coin with such dog name will just make them get free promotion and instantly make people know that they are meme coin.
most certainly its up to dev to decide, maybe in the future such name will be used, but right now in order to get some easy recognition by the general masses, the trending coin are frequently used for name.

This forum already has its official native currency to award quality posters, Merit. The total supply of that Merit currency is infinite as each month, theymos will dump more sourced merit to merit sources and keep the supply rising more.

Merit currency has its public ledger and we can see merit transactions from senders to receivers.

The forum does not call it as a currency by in my view, it is a native currency of Bitcointalk. It is not tradable on any cryptocurrency market, exchanges but it is locally transacted in this forum, natively.

It's not exactly something people would need, or even if we consider it's use case, it's only described in this forum. Outside? It's just a vague word. I doubt as well that someone reputable here would waste the time in actually making one, especially if you consider how it's an empty use case in the long run and is just running on the fact that the forum uses "Merits" to award people if they're ideas were helpful/creative.

And tbf, "Merit" in of itself seems pretty vague. A lot of coins use pretty descriptive words of what the coins they have are themed after, or even creating an entirely new word to describe it (such as using company name, like BNB, for Binance).

Then what is it for this forum and what will be its use case and what platform it will set up for, there is too many shit token now in the market almost all words has been used up I remember stumbling into a shit coin named Fart coin or Bottled oxygen but ended up as shitcoin we have to concentrate on the use case and platforms that will benefit the community, not just because the word is good.

And I don't think it will be used here in Bitcointalk, there's a recommendation for the community to create their own token but it will cease to be a Bitcoin discussion forum if they create their own token, Bitcoin is already enough.

It's not about the name, it's about the project.
Besides, the name "Merit" sounds like it will not get that much attention in social media where the market is lively. Investors are there and most of them will like something that could make a trend.
But if you do insist you can make one and test it out. Who knows? It might become a popular coin that would topple Ethereum and BNB. I do know it will require a lot of money and you have to pay a team that will do the work from marketing to development, websites, and other stuff that would actually be expensive in the long run. Perhaps an ICO will help. What the project will be about is something I will look forward to.

Because Merit is not a cryptocurrency, but rather a database system inside the forum code, which makes it difficult to upgrade without obtaining certain points, and therefore the user must create high-quality posts that have no material value outside the forum and it is wrong to sell them, so it is not his currency that is traded, but rather just code in a base evidence.

If it was a currency, I can make more than 10k sMerits annually, and then I may not be inclined to send it.

You haven't done a deeper search or the token with the name merit doesn't get attention from the public, as far as the search I did, there are 2 crypto assets with the name merit. Here are the 2 tokens:

1. Merit Circle (MC) (https://coinmarketcap.com/currencies/merit-circle/)
2. Merit (MERIT) (https://coinmarketcap.com/currencies/merit/)

FYI, the token with the name Merit Circle that I mentioned above is an asset that has been listed at several top CEXs such as Binance, Kraken, Gemini, Huobi, and Crypto.com. Unlike the first token, the second token with the $MERIT ticker that I mentioned hasn't even been listed on any exchange yet.

So, don't jump to conclusions by saying that there are no crypto assets that use merit names. Previously you should do research before expressing an opinion.

Fun fact, I was once a holder of this Merit Circle :D But shit happens, most of the altcoins last year were dumped especially when Bitcoin started to drop to below $30,000 everything follows.

For OP, I don't think the name will really matter because if you want to create a cryptocurrency, the name must be related to what its purpose. Just like Merit Circle which focuses on DAO or the gaming industry like player 2 earns, etc.

Maybe no one really thought about it Or it's just not that much attractive to many of them. Merit is a widely used word in the educational system. Merit for this subject, that subject, merit for sports, merit for getting this degree, and much more. I am not sure how Merit Alt would be used when they actually make one of its kind. Maybe they will have to dedicate it to the educational systems where students would be rewarded with various merit coins for their achievements. Look, we are already getting at something with this discussion and I think it would take no time for someone to recognize the importance of this and implemented a utility coin with that name.

Have you guys thought about this concept and specifically OP what do you think about this idea.

You telling me to don't jump to conclusions but its okay for you to do it?
I know about these two already, but if you read about them it has nothing to do with what I mentioned.  :)





I think it would be doing good, but I don't have the skill and knowledge to create a crypto currency  ;D

Merit on bitcointalk is a gesture that people like what you are posting and your contributions are valued.
Merit can be tokenised but that would need a big implementation in bitcointalk source code and also it would need a secondary market where it can be traded.
Currently, the value of a merit is the value of a user's post but if tokenized then the value will be decided by demand and supply based on the secondary market.
Such a system is already implemented in Reddit where the "Cryptocurrency" channel users give each other "moons".
Moons can be traded in secondary market and it's current price is 339 satoshis = $0.09

https://www.coingecko.com/en/coins/moon

What good would it do and who would want it? Another shitcoin that will have low liquidity, little demand, and a terrible schedule that will immediately alienate the potential investor. You could make another memcoin on this theme, but I don't think it would add any utility to this token.

It's quite surprising to see that $MC has fallen in price by -99.62% since their ATH 2 years ago, and the current price is $0.17, BTW, I wonder, at what price did you buy your $MC? and are you still holding your $MC until now?


Hmmm, based on what I understand from the title of the topic you made, you are asking about why there is no crypto asset called merit, right? I've given a little explanation about it, then where is it that has nothing to do with the topic you're making? did you ask about Merit in this forum being used as cryptocurrency?

There are merit named coin and tokens if you search it using the search bar of coinmatketcap, but there's no data yet regarding on those crypto's. So maybe they are not been listed yet on exchange or maybe rather they are listed on small exchange but didn't get any decent value. Also its easy to create a coin the problem is how they can sustain it. And its not all about in the name but rather its technology used or rather its utility since if you create it randomly then it will just be another shitcoin created.

Yes exactly  :)
An idea like creating a Merit cryptocurrency and for it to grow and start somewhere, people on the forum could get some coins based on how much merit their account have, then they could if they want share it with friends and family and make it grow more and more.

I don't know anything how to create a crypto currency but I looked online how much it could cost and Google said all from $2000 to $50.000.
I have a lot more then $2000 but not close to $50.000. It could be a fun thing to look into.  :D

That's an insane amount if you just want to mint the token, maybe $2,000 to $50,000 that's the total cost for the core team, marketing and other things needed to make the token grow. AFAIK you can even create a token without spending a penny.

Not sure about Merit but if we are discussing things that are forum related then I think NFT’s based on users on the forum could be cool. I just wonder if there’d be enough demand. www.bpip.org could be used as a reference.
There probably wouldn’t be enough demand but only a thought I had, I mean who wouldn’t want to own a theymos.

What is the point of yet another alt, majority of the coins are shit coin created for pump and dump and has no base valuation and i wont be surprised if someone comes up with a coin like that to deceive users.

The forum does not need any shitcoin as we already have BTCitcoin  :P.

Wouldn't mind a fun NFT considering all the other shit projects in existence  :D.

This looks like a meme coin since you are creating a currency after the merit system here without any direct relation or utility. This will not gonna be successful since most of the forum user will not gonna trust you or anyone who will create.

You can mint your own token with cheap amount on BSC and other blockchain with small fees. There’s a lot of open source smart contract out there that is available. That estimate price is for hiring a developer to write a code for you from scratch while your target token is just plain token like tokens being airdrops on any blockchain since it doesn’t have any utility or other feature like token burn and tax.

Thank you for a good answer.  :)

As it can be understood from the message you have created under this topic, you are someone who has just started to be interested in cryptocurrencies. Before investing in altcoins, I recommend that you thoroughly examine their teams and roadmaps. If you invest in them simply because of their good-sounding name, you may have to face the possibility of losing your money. Also, stay away from investing all your money in one coin and try to always have some cash and Bitcoin in your purse. The world of altcoins is a colorful and interesting realm that promises a lot of profit, but it also has huge risks. I advise you to do your research thoroughly and not be attracted to them just because of their good-sounding name. I wish you good luck...

I think it's not a good name for a project that has a real goal in their plans. The person who decide to create a real project absolutely has a name in mind on what kind of project name that the world will be known with their project goals but unfortunately no one would choose the name merit as a name knowing that merit is a name that you will think of something else after being mentioned. Unlike shitcoins, real projects thinks their name carefully and do have meanings on how they ended up with that name. We should wait for the day that someone will create a meaningful project that carries the name merit.

Assuming that it isn't really something to troll the system of forum, I don't think it is even something worth investing at all in the first place. People/users would have the misconception of buying merit here in the forum when you think about it and that's a frowned upon act here as you know it.

It's not even a good of a name if you would ask me.

It's going be like an internal meme here in the forum since not all people had any sort of idea on the "Merit" stuff going on in here and they would think the word "Merit" as just another stablecoin or any coin that does not have any utility at all just like you said.
It's not going to last long. Maybe few hypes around it, but that's it.

I don't really understand this comment or post?  Are people down to just looking at coin names at this point?  What's the difference if something is called merit, tree, Bob, etc.  It's just a name.  I would counter with I can't believe people made coins with some of the crazy names they called them.  It's about the underlying project behind it though right?

Then, what is this crypto "merit" for? The use cases.
Not everything has to be made cryptocurrency even though it may be something that is important or well known. Merit is indeed an important thing in this forum. however, crypto is wide and not only on this forum. What's more, in my opinion, let merit be something special in this forum, but not to be used as crypto or anything to be traded. moreover, such coins will usually only be shit coins, only hype for a while. And this will actually reduce the special sense of Merit itself. therefore, don't make this kind of crypto. Bitcointalk itself doesn't even have their own crypto.

Well, what makes a cryptocurrency useful isn't its name, but the use case, anybody can create an altcoin and call it whatever, maybe merit or something more interesting, but if the coin doesn't have any utility, it'd be a failed project. Bitcoin is a success because it has an actual utility and not because it was named "Bitcoin", thus even if somebody ever decides to create an altcoin with the name "merit" and it does not solve any problems, it would last for only a short time due to hype and die later

well some people are interested solely by name, you can say it's the same like meme coin trend where you just have better name than the others will means that you might be more succesful.
though i'd agree that these naming are just some nonsense if there's fundamental.

Naming that capitalizes on a particular moment is just bullshit, it will only work in the short term and will be abandoned when the hype is over. The trend of meme coins really illustrates this, where many meme coins appear with various names and in the end only the main meme coins can survive. even the same name appears on all Blockchain networks.
in the end this kind of coin is just a pump and dump practice and will hurt a lot of people, not for the long term because it will just be abandoned without further development.

thats what baffles me, i mean good naming for altcoins could help people recognize the coin instantly and remember it but honestly when it comes to some random coin
it's as good as some unique id and identifier, because their name exist so that they could be used for ticker.
though i might be wrong but just picking whatever sounds good will suffice, other than that devs should be more focused on what they truly offers maybe revolutionary smart contract blockchain that have
really good scalability or something like that instead of just merely a name.

Oh, the wonders of this new generation of crypto enthusiasts and their obsession with meme coins! It is truly fascinating how they went wild for Dogecoin, Shiba Inu, Pepe, and now they are desperately scheming to create the next "groundbreaking" shitcoin that will magically transform them into overnight millionaires and internet sensations. The lengths they will go to in their pursuit of fame and fortune are simply awe-inspiring.

Because bitcointalk is a Bitcoin forum, not an altcoin forum, I think it is impossible to create a reward "merit" coin as your suggested. You have to know some time ago, many members focus to get altcoins here and follow the bounty to get reward tokens. But, it was only for a moment, after that, the token they got becomes useless and don't have value on the market. Then, after that incident, many of them migrate from token hunter to bitcoin hunter. This indicates, that a token, whatever that name like "merit" is more unstable than Bitcoin.

What difference does it make what name a project has if it does not have a strong team, investors, and a workable product. These are the things that determine the long-term life and value of an altcoin, not its name. Another thing is that a project with such a name can be valuable if some famous funds invest in it at the seed stage and can be useless if this project will have a low capitalization and will be traded on some pancakeswap.

OK done  :D

https://talkimg.com/images/2023/06/18/Hn1IT.png

Its a Dogecoin token named MERIT (https://dogeparty.xchain.io/asset/MERIT), made using Dogeparty (https://bitcointalk.org/index.php?topic=737231.0).

Yes, I used DALL-E to make the image, so sue me.


It has a locked (non-inflatable) supply of 1,000. If you have a Dogecoin address to which you own the private key (seed phrase not good enough) or even better want to create your own Dogewallet (https://dogeparty.net/wallets/), I will send you 10.

Not interested in selling MERITs but if you are a decent poster I'll give you some for free.  :D

I don't believe that no one tried it, it probably didn't make it and that is why we don't know if anyone used that name or not because only the projects that gain significant success appear to the audience and not just tokens with a name and no actual project or proper planning or anything. If a team decides to create a project that serves a purpose where they can use the name Merit, they would probably go for it.

A suggestion for you since you have money and looking to invest in altcoins, if you love the money that you have and don't want to waste it, don't go for newly launched coins or tokens unless you have confident that they are backed with a strong project with a strong team and good fundamentals.

You are underestimating those scammers, if there is not a popular coin with the name “merit” right now is simply because they could never make such coin to become popular, not because those scammers did not try to take advantage of every single thing, as they always do.

Now about the merits of a “merit” coin, I disagree with you, there is not a single reason why a coin like that should exist and the only ones stand to benefit from such coin are its creators and no one else.

This community is for Bitcoin, and they won't going to create their coin because they are supported Bitcoin purely from the day this forum was created until now. Even though many altcoins have been made throughout these years, the admin and the veteran users don't want to have their coin in this community and want to stay like that until now. Most users assume that they are incapable of doing so; they are wrong because the famous users that we currently have in this community are monstrously knowledgeable about crypto, and they can create it quickly and promote it effectively in just a short period.

Then do it yourself. But I don't see huge potential in it, it would be understood only by users of this forum, and I don't really know what actual use you could make from this coin besides memes and all.

The name may be quite familiar with this forum, but it is not necessarily attractive to investors because the token marketing target that has just been launched by the developer managing the new project is of course not only in this forum but on various social media. Of course, the unique name regarding the purpose of the token must be adjusted  so that it can attract a lot of investors in various circles of society so that it doesn't become a joke coin that won't last long

What'll be the purpose of the token, merits are only valuable on the forum and useless outside the forum therefore I didn't see an reason why we need a token that can't be used on the forum called merits. The forum is a Bitcoin forum and that's the only acceptable coin here. Unless you're talking about just a meme coin then that's understandable
If you were to create a meme coin names merits, you'll need lots of marketing and publicity to get the community to accept it. Memecoins like Shiba Inu and Pepe coin did lots of marketing in thousands of dollars been spent to get to where they're today among the top traded coins and have lost of marketcap above other well known projects in the market.
If you're looking for coins to invest for the next bull market then search for coins with fundamentals and not those getting hypes. Any tokens called merits that's exiting or that'll exist in the future should be avoided because they're not in affiliate with the forum. Most high ranked accounts on the forum hate altcoins and won't want anything to do with altcoins.

you need to first create meme coin with merit name and then if it hits popularity the other will follow.
the pattern is always new coins following the already existing meme coins that gained massive popularity and thats it.
moreover the name merit doesn't seem that interesting for a coin honestly, and why should it be named merit is still honestly beyond me, it just doesn't feel right.

true, there's just no benefits at all, why focused in name instead of functionality, if its just name everyone could literally deploy the same token over and over again but what matters most is the functionality and innovation.

though the population of forum users is big, it is not justifiable to create one as you need to consider about its long-term usage. and that will confine its usage to the forum unless, the team that will create will find a way how to market it outside the forum and find a good use case. even if there are so many developers of coin in this forum, they need a tangible reason why they want to create the project itself. also, the funds to sustain the project is the usual bottleneck of any project. you can't expect that you will earn outright upon launching your project. this is why a lot are getting abandoned because they don't have the resources to push thru their developments.

There are a lot of things to put into consideration when before creating a cryptocurrency apart from the project concept, purpose, blockchain platform, tokenomic, consensus mechanism and use case.
The website and the brand name are also very important with my research I believe the domain to the name you mentioned is already occupied by some projects who are not related to crypto and related to crypto therefore the idea of choosing the name is not a good idea.

I think it wouldn't be a bad idea to create an altcoin named merit even if it wouldn't have practical uses, already the fact of associating it with a prestigious forum like this would give it some value

Well first of all i think that the name Merit is actually a pretty good one, not only because of the role of merit in this forum but also because the word is associated with very positive things in general. The thing is though that a good and catchy name alone is just not enough because then you only have another useless meme coin that is dead again within a few days. So you really need a good concept for your token too in order to create organic demand. That is the hard thing.

According to my perspective, the success of an altcoin is not determined by its name. The absence of a cryptocurrency named Merit thus far does not hold any substantial reason. If the name alone dictated success, numerous individuals would have profited simply by naming their cryptocurrency after Ethereum or Bitcoin. Consequently, I believe that the name itself carries little significance as long as the developers possess the necessary skills, the community is robust, and all these factors converge to guarantee the project's success.

OP mentioned users in our forum and he is aware about the merit system here so maybe this is what he get the idea. I also read a reply about a user who hoard/hodl merits. If that is only a coin they are holding and its name was merit, maybe it can give them a fortune later on :D because merits are also scarce in our forum. But, maybe it will be treated more like a meme coin and not a serious project.

There must be a serious project out there whose name is not that great and not totally related to their project. I wouldn't blame them because it's really hard to think outside the box and they already stressed their minds in creating the project as a whole.