Bitcoin Forum

Look at Ethereum (https://ethereum.org/). They implemented smart contract using which new tokens could be issued. Now, BTC fork BCH (https://www.bitcoincash.org/) has Simple Ledger Protocol, using which one can do the same. BTC HODLers got it for free.

Look at Grin (https://grin.mw/). They implemented MimbleWimble protocol for privacy. Now, BTC airdrop MWC (https://www.mwc.mw/) has implemented the same. BTC HODLers got it for free.

Look at BAT (https://basicattentiontoken.org/). They implemented in-browser ad through Brave browser and rewarded end user. Now, BTC airdrop CPD Token (https://cpdproject.com/) is going to do the same through CPD Browser. BTC HODLers got it for free.

If every new tech in crypto field goes to BTC HODLers for free, why would people invest in new tech?

You can't compare Ethereum to SLP. Well, I mean, you can, but you really shouldn't.

Ethereum is a Turing Complete smart contract platform.
SLP is just a very basic method of issuing tokens, it's ERC20-lite.
Not the same thing at all.

I'm not saying SLP is a bad thing. It's not, it's a great way to get basic tokens out, it's perfect for that sort of thing, it's perfect for what it does, low fees and scalability are nice too, but it just doesn't have the sophistication or scope of ETH. They may seem superficially the same if you are looking at them as just 'things' that tokens can sit on, but really they are very different.

I'm rubbish at analogies, but say ETH is a car roof and SLP is a sheet of metal. Tokens on both are sitting on flat metal surfaces, it's just that one has a fully-functioning car under it.

You can write any code you like on ETH; its functionality and potential go way way beyond being merely a 'thing' that tokens can sit on. SLP mimics a small part of ETH, that's all.

a useless copycat coin or a garbage token has to give away certain amounts to people to force them to get involved and increase its trading volume (dumpers) so that it could be listed on some exchanges. otherwise they would simply die in birth.
one of them easiest way to perform such giveaways is to give it to those who own bitcoin and based on how much bitcoin they own. which is why many of these shitcoins use this method.

It's like asking "why would people buy iPhone if they can buy chinese noname phone for $50"? Ethereum pioneered smart contracts, and it has seen countless attempts to dethrone it and still it's #1 in that field. Same is happening with BAT. And Bitcoin itself still dominates the crypto market despite thousands of coins trying to kill it.

But almost no one holds Bitcoin to get "new technology" from aidrops. I don't even bother claiming any airdrops after BCH/BSV, it's simply not worth the time. People hold Bitcoin because all that "new technology" isn't really useful and its often plagued with security problems.

Maybe that would be conclude as one of the none reason by the people but for some people they are holding bitcoin just because they believe that this is a kind of investments in which they can earn money and also there is the assumptions of many that they are believing on the new technology that would bitcoins will be brought especially we are here now on the digital generation in which digital works can apply.

OP, I know thinking can sometimes feel difficult and scary but with counselling, intense prostate massage and lots of physio you too can learn to use the big squishy thing inside your skull that tells you things at night.

They go for bitcoin because the holders-based is huge and it's a plus for them to attached their projects or forks or whatever technologies they are implementing on it.

It's easy for them to be recognized because it's bitcoin, as simple as that. Get close to the king and you'll be recognized by everyone that's living in that community. Why is it that this is such a big deal for some? those forks are not even worth it.

It is a very simple marketing strategy

First Bitcoin holders are the initial believers and scooters of cryptocurrency. Startup will target the existing database rather creating a new.

Second Bitcoin has the largest marketcap which men's more adopters. Creating a marketcap for themselves will be easier if they airdrop the existing Yorkers.

Not only these. Ripple created a payment protocol, which was forked by Stellar, while XLM was airdropped to bitcoin holders. This is happening for long.

Moral of the Story: HODL Bitcoin and everything will eventually drop on your lap.

I have missed all BTC airdrops unfortunately. Sold my BTC for alts at the wrong time every single time a new airdrop came out. A few thousand more bucks wouldn't have sounded bad at all. :)

I remember this happened with BTX (BitCore) too. I still have a few thousands (bought, not airdropped) laying in my wallets. Unfortunately, the price dropped to an unimaginable level probably because of the lack of development. Now it's worth somewhere ~100x less than what I paid.

Investors put their money on these coins because they want to hold more. Example: holding 10BTC would have airdropped you 10BCH. If you compare the prices of these two, you'd have a good idea why 10BCH is nothing for someone who holds assets worth >$65k. Moreover, there are shitcoins like KICK that need a boost. Give people your coins for free to make them interested in your project => accummulate new fools.

You've got to treat stuff like that like a hot potato. I remember plenty that had ongoing airdrops like byteball that had them surging week after week. As soon as they changed the strategy they fell through the floor and died.

They're the purest shitcoins out there. You have to ride the waves and jump out the water before everyone else does and no one should get sentimental about them. You never know though if there is to be another alt season some of them may spring a surprise. Could be a long wait.

I don't get the point of this thread.Do you mean that people(including BTC HODLers) should pay for those implementations?
This is open source protocol.It's free to use and edit the source code.If all those "revolutionary" altcoin projects wanted to have any competitive advantage over Bitcoin,they would just patent everything and dump open source code.I guess that,in the crypto world,open source is a must and nobody would ever trust come "closed source" crypto project.

I can't really believe that you can compare between BTC and ETH, GRIN and BAT.
Everything mentioned in Topic is only about using Bitcoin's image. Yes, everyone is trying to somehow reach Bitcoin holders because it is used to create a real hype.

When bitcoin forks tries doing something radically different than bitcoin and is venturing in the genre of another coin, we can call it a failed coin. As almost all of the popular bitcoin forks were intended to make bitcoin better or to rely more on the path of Satoshi. The team could have started a native coin if they want to do some different

Well, every new project is either to solve a lagging problem or just leverage on the existing technology and improve on it for a proper synergy, but we mostly have in the market are majorly a mirror of an existing project aiming to dethrone the old project and this usually lead to rivalry and at the end, the weaker project keeps losing value and community. One would have expected BCH and BSV to be well over $2k with all their many shillings.

I do not believe that every project wants to solve a problem. But I am aware that every project does its best to make money. Unfortunately, as a result, the market has been filled with shitcoins. Aside from Bitcoin and 10-15 other basic projects, I don't think the rest really works.

BTC hodlers did not get all of these for free. Some of the coins listed by OP required users to sign the messages with their bitcoin keys and then had a small window to claim the airdrop. Even if you registered but did not make it in those few weeks where you had to download their wallets and do all they required of you, you wouldn't get anything.

There's a big difference between claiming a fork like BCH and an airdrop like MWC.

If it hurts you just hold some BTC, problem solved.

The more people get involved in a coin, the better chance of it to get value. BTC has the most biggest community and supporters along with a lot of holder. As a result, if they give free coin to btc holder, they have the chance to get more people in their network.

Brave browser has received accolade from various parts of the industry. But, the bottleneck for their token, i.e. BAT, has remained KYC requirement. First, Dissenter browser forked them and replaced BAT with Lightning payment. And now, CPD Project is forking them and replacing BAT with CPD Token, which will be airdropped to BTC HODLers.

I dont know much about most of the rest. But, this CPD Token appears to have good utility. This, along with Bitcoin like limited supply of 21m CPD Token, will probably make it valuable in the long run...

I can agree with BCH being free, because it was a fork, but those other two are airdrops, and I dont trust airdrops. Some of these requires you to signal messages directly from your wallet, which is not a safe procedure in my opinion.

Also, utility-wise, you cant compare ETH to bitcoin or any of its forks. ETH is clearly superior, and it was designed specifically for smart contracts, whereas bitcoin was meant to be a store of value.

True. KYC is a BIG bottleneck for Brave and today or tomorrow, this fork was bound to happen. But, Brave's partnership with Binance is definitely a fresh air for BAT hodlers.

I don't think that Ethereum smart contracts can be compared with Bitcoin fork. And I'm sure that Bitcoin hodlers saying "I'm here for the technology" don't consider holding only as a way of getting some new coins by airdrops.

This is actually one of the things devs do in order to garner some interest on their project: give tokens to hodlers in order to increase their volume in exchanges. Also, comparing ETH which is mainly used for smart contracts and dapps whereas bitcoin has always remained to be mainly an asset and store of value. It’s like comparing a Swiss Army Knife to a hammer or whatever—two completely different things.

it's not just a matter of technology, but also a profit. we realize that new technology brings us to profit, even more so if it is the technology needed today. although bitcoin holders will get it for free, but, I think the entrepreneur's soul will not stand by and see something that will soon be popular before their eyes. Well, that is an opportunity.

OP has compared token issuing on Ethereum's blockchain with SLP Tokens on Bitcoin Cash blockchain. I think, they effectively do the same thing.

BAT is steadily going down though. ;)

Long time BTC holders are the oldest gang that first believed in Crypto assets. Hence, it is rightfully deserved by them to get airdrop of new coins. Moreover, these airdrops make sure that new techs in Crypto industry get battle tested in the hand of long timers. That's a plus for that tech itself.

That is why, I dont see anything wrong for new tech coins to be airdropped to BTC holders.

I think it's a new strategy to pump their site However, it is great that BTC HODLs are getting new technology for free This will make it easier for holders to trust their token market and reduce the chances of being scammed. Airdrops will be better than before. This is a good time to take advantage of this opportunity to develop new coins.

Most of the Bitcoin airdrops actually did moonshot at some point.

Not just bitcoin, there are many projects that decide to give free tokens for holding some old altcoins like LTC, Stratis and many others, you aren't just looking enough and all you could see are the benefits of holding bitcoin only