Bitcoin Forum

Let's assume that I create a new token and this token has two main characteristics:
1. The purchase price is always fixed
2. You can never sell it to anyone else after you bought that token (so it can't act as a stablecoin)

You can come back and buy more of it since I can create as much as I want anytime I want but you can never sell those tokens to anybody else so you'll have to own them forever.

Will you buy this token?

Feel free to explain and tell me if the price would be a factor (eg. if the token was sold for $20 or $2000).

if i want my money back, i would have to trade it to the market where i bought it. it will be good to see there will be buyers when i come back to trade. but if we can't sell them, how do we know the price is fixed?

one problem with stablecoin (USD) will be its purchasing power too. we all know how much gas per gallon already.  if today we can see $4/gallon. tomorrow we'd likely see more than $5-6. its best to buy gallons today than tomorrow. its best to try our chances in buying a coins where its value could go up.

Buying a token I cannot sell to any other person, I would in turn assume that there might be something else the token can be used for outside selling that might be valuable to you having to buy it in the first place, but if I cannot sell and has no value added characteristics, I don't see the reason.

No I wouldn’t buy it because I don’t see what use it would be. Inflation would render it useless. If the price never went up it’d be even worse than fiat low interest savings accounts. It’d not be of any interest to me at all.

What you say is true other than that buying coins that never go up will only waste time,
I don't think anyone will deliberately spend time on things that are not useful,
after all there are a lot of potential coins so there is no reason to buy such coins

Back then, when I wasn't familiar with the forum, I bought it and I don't know what happened next, one of them is ubcoin, which reportedly acquired and integrated the swallow on Samsung phones. Until now it's not clear. I've bought 0.5 eth.
then proceed to the airdrop and also buy it occasionally from the website. I don't regret it because I just fomo and join in. but after getting to know the bitcointalk forum at least to have altcoins, I just want to participate in the bounty. You also have the same opportunity, friend. at least it will make you have a new token token. although you can also buy it on the website in any project. I think everyone has a different analysis. if you are not satisfied with the distribution of the bounty you can buy it yourself to have more. to d save. I think you are looking for a new project token?

If it's for the matter of just like having it like a display or memorabilia from a celebrity, an athlete or any known person, I guess that there will be people that will buy it but I won't.

With the description that you're saying, this is with the NFTs but with the little twist that they can sell it later. Those NFT arts that have been kept by those people that just want to buy like a piece of it because they admire the artist. They don't know how much it will be in the future but that's the other side of it, they can sell it eventually if they want to.

It is a hypothetical token in a hypothetical situation. The price is fixed and you can neither sell it nor use it for anything else. You have to just own it (imagine a hypothetical NFT created for some sort of digital art or something like that).

P.S. please don't forget to also vote

Most tokens are speculative in nature or, in rare cases, endowed with certain utilitarian properties, such as the recent token from Binance. If that token has unlimited issuance and cannot be sold even with a fixed price, then I wouldn't waste my time on such a token, even if you were giving it away as part of a generous airdrop.

Well i also voted with "no" because i don't see any useful function in that token if the price won't fluctuate. If i can never sell that token why would i buy it in the first place. Crypto coins and tokens are mainly bought by investors because they obviously are hoping that those assets will increase in price after they have bought them. So if that possibility is not there for your token there won't be anyone that buys that token.

Or are you planning some functions for your token? Like, you get a certain share of the earnings of your project depending on how many tokens you own or something like that? Even if that would be the case though, why would you make that token unable to change it's price and sellable then?

What! am I running a museum or something ??? why will i buy a token i can not sell or generate profit from? that sounds ridiculous and certainly not good for business  :D
Any profit seeking investor will not consider such a project a good investment. except there is some hidden benefit which i have to be aware of and must be really beneficial, otherwise it is a big No.

I certainly will not buy such a token. Why would buy something that I can never sell to anyone. So, how do I get my money back? So, what will now be the essence of buying such a token?.
It doesn't make any sense to me buying such token.

^As the majority choice and I expected the answer would be no.
I will not waste my time investing in nonsense tokens that don't have value, because most likely happen, they will become a shit token even though how good the project it is. Possibly, it will dump the price in the market after there is a massive selling. It is very risky for me if we will invest in the kind of characteristic in the token, it seems we are just burning our money in that way which is not really good.
I rather invest in BTC than the useless token.

Can I be able to make use of it, like would this token have Utilities, mass acceptances and also how secured would it be, I really don't mind if you created a token and it's price is fixed and there is no room to sell it of, there are already many coins that one can always sell off.

I would be interested in your token if you have good marketing and the publicity of this token leads to great acceptance. It's price fixed mean I can be at a loss with it. Already many speculations has been made on how secured some of this stable coin are, so if you can ensure security as well I believe many would be interested in your proposed token.

yes i would buy tokens that I cannot resell to collect them such as tokens or nft of my favorite soccer team

I will not buy the token because the price is always fixed, and I can not sell it to anyone else. I will accept it if the price is always fixed, but I can sell it and buy other tokens or coins like stablecoins. I don't want to have tokens or coins that don't have any function because that would be a waste of my money. I prefer to choose coins or other tokens that are more profitable. Price will be a factor in buying and selling tokens or coins, so if we can do that, we can still make a profit. I don't think investors will want to buy it because it won't give them anything.

I wouldn't waste my time or money if the latter I couldn't sell it. It's clearly no use to me the way you explained it – it will just be another trash in my wallet that's queuing along with the others that are useless too since there are no market value or exchange that would offer to trade it.

If it's just for collectible I still wouldn't buy it since it's no use and no value/I can't sell it to anyone.

A potential token that has a utility maybe.
IMO, that depends on the token and its potential, it might be 10% of your capital would be an ideal amount to invest and take a risk, tokens are very speculative and risky to invest.

If that token is backed by the community and has utility, it would be worth it, but if that's because it's a hype token and went down, that's useless.

There are two kinds of buyers in the market, the first ones are those who expect profit and the other ones are those who'll want to use that coin for specific purposes if the token doesn't have the latter there's no use in buying it.

If it has no usage or purpose, what's the use of buying it



That's a big no if there is no usage and there's no profit to be made it's a shitcoin, you did not tell us the other features or characteristics of the token that you are about to be created except that you can't sell it, if there's usage or you mentioned it people will say no, but since you only mentioned you cannot sell it and you have to own it no way I will buy such coin.

Are you describing fiat before bitcoin was created? :D

Because those were 2 characteristics of fiat for me back then, since I didn't have access to another currencies, so my local fiat currency was the only option I could use, therefore it was impossible to sell it. Moreover, without access to other currencies the price of my native currency was always fixed.

I don't miss those times and for that reason I wouldn't adopt this kind of token. It's too restrictive and goes against the wide freedom we are looking for when dealing with cryptocurrency.

I wont buy a token like that, by the description we’re talking about a token which behaves as some sort of collectible, but even those which buy collectibles do so with the idea of eventually resell them, only those which are true fans of their favorite sport team or rock band will think about buying something and then never sell it, however despite the results of the poll the reality in the ground is that NFTs are indeed quite popular, and even if people buy them with the intention of reselling them they find themselves unwillingly participating on the scenario you're presenting.

is it obvious what the point of token if you can sold it, instead you can give yourself rich because people buy the coin from you :(

I don't understand why I would buy a token if I can't sell it, even if the price of the token rose hundreds of times and I couldn't sell it to someone else then it is useless, if the token is like NFT for example where I can get unique features and powers of a special kind then I can buy Even if I can't sell the token because I will get some important benefits as a result of holding the token.

Buying such token, it will take you a two dimensions to decide of buying such a token, because for you to buy such token what should come to your mind is to leave the token for numbers of year incase the value can be tradable in future time. And it's obvious that not everyone that will like to buy such token, because the profit or the benefit is not really assured within the time it's launched. So i will buy and hold until it becomes relevant

Hell no! Why would I do an irrational thing like that. Honestly, I don't think anyone would do that. Except they don't realize it can't be sold after they've bought it. If the likely scenario were that it could be sold at the same price of purchase it would've made sense like in stablecoins. Since it can't be sold, it will be worse than hodling a shitcoin even if they're NFTs. I won't be buying any token for the pleasure of just hodling it.

You're describing Soulbound Tokens (https://academy.binance.com/en/articles/what-are-soulbound-tokens-sbt). Sounds like they're about to be the next big thing, and people will buy them.

https://cointelegraph.com/news/soulbound-tokens-play-a-big-part-in-this-new-metaverse-which-plans-to-give-users-citizenship

So far the community is disagreeing with your opinion.
Besides, we are not looking for silly people who have money to waste and buy anything you throw at them. They are the minority handful.

Depends on other characteristics of the coin as you only mentioned two.
If there's any way I can make profits or give back my capital, I'll buy it. Or even if it's at a cheap price, I'll buy it too.
But the thing it cannot be sold seems a very big lose just incase especially if this is expensive, which majority of people won't buy it.

I don't get it. Why are we going to buy a stable coin with unlimited supply that is non-sellable? You are not referring to fiat right? Fiat can increase and decrease its value and it can be exchanged for either materials, services and other fiats.

What is mentioned in op would be the worst coin ever if it exists. But maybe the coin has its features. Just like VIP memberships on some stores that give big discounts.

The fact that I couldnt sell it to anyone or market is a pretty red flag means there is something wrong with the codes. Also the owner who can create or mint any amount of tokens is not good. Knowing these two alone would definitely a bad publicity already for the project assuming its a decentralized one.

But when the token is hyped on some market surely people will jump into it regardless whether it has utility or not. Ive seen how many degens are like this. But its a big NO NO for someone who are doing a research and not concern about easy money.

Sure. Of course.

I do assume that these tokens would be like permastaked , and you'd get some other tokens that you could get value out of.
Or maybe if the token gained access to something else one would deem valuable??

So the answer is yes, as I helped make of your question that had an answer no if your goal was to make a profit.

I will not buy tokens as you mentioned, our goal is to trade and invest to get profits in buying and selling, if tokens cannot be sold, of course it is not a good idea to consider.

Tokens are always changing all the time there people can get what they want, if the tokens don't move it's not beautiful to play with.

But at least fiat can be used to buy and sell goods or can be exchanged for another currency. I am thinking of him as referring to a scam coin, there are a lot of coins created and sold on junk exchanges or DEXs. It is only possible for us to buy coins, not to sell them or convert them into any other coins. It could be said that when purchased, it is a bit like buying a collection that is of little value to hold in one's hand and admire. Surely no one wants to buy such a coin, if so, only those who are new and ignorant in the market will be fooled into buying it.

The "community" you speak of probably knows about as much as soulbound tokens as you do. Don't worry I won't interrupt your exercise in confirmation bias any further.

Well! no one gonna sell their tokens when they announce like this because as you can see, these shit coins have their own groups on Telegram or any other social media and they are always giving their investors fall promises to make them believe that they gonna multiply their money when they will gonna invest early. Therefore, these people continue to beautify their road maps to attract more investors. That's why when investing in the crypto market there are lots of guides to warn you not to get victim to these false projects.

You could use it for buying goods, or selling goods, but at the same time we are talking about something that is quite effective on payment method. However, we are talking about something that is about investment and we shouldn't really be worried about the payment part of it.

If you were given a choice to invest into something that never goes up, always goes down in value, and you could never sell to get rid of it, then would you "invest"? That is the question and to be fair everyone would say no. That is why I never try to have fiat as investment, I always invest into other things, I am going to start getting into debt just to get some good assets like these as well eventually.

I will buy only those coins which has high volume and there no wait for sell if I need to buy at current rate. These kind of coins generally found in low value exchange like Azbit, Coinsbit and Coinstore etc. Buying these coins are very risky and I am not in favour of taking risk.

In my opinion, this is an absolutely unnecessary token, since it cannot be used as a means of payment, sold and exchanged. So what then is the value of such a token? Perhaps such a value would have appeared if it represented artistic value, but only for those who are ready to simply possess it without having the thought of reselling it.

buying coins that cannot be sold to others is a waste of time and self-defeating. why do we buy coins that are not useful for the future? even though we buy coins to be used as assets to get profits in the future. and on the other hand there are many coins that are more useful and have a good chance in the future like bitcoin.
for me buying bitcoin is better than buying coins that have no function and do not have a good future for profit

Depends on the usability/benefits of the token.  If having it means I can have a share of profit in one of your profiting company then sure, I will buy it.  IF it is just for the holdings and nothing beneficial about it then no.  Price will never be a factor as long as it can generate income or profit and the benefits that is better than the price of acquisition.

Benefits example:  
A VIP status that can have massive discounts on items at several known online stores.

Coins which have no value and no popularity among people and no trading in the market so why should I waste my money buying all these coins?There is no question that I wasted my money buying such coins.No one will agree to buy these unpopular and unmarketed coins, not me.People prefer the coin that has the highest volume and popularity in the entire coin market.

What's the essence of investing in what I can't sell? It makes no actual sense. Tokens are meant to be traded not to be kept in the wallet as a memorial token
The goal of me investing in the token is it to make only you rich? Cos nobody in his real sense would love to do that. Investment is a win-win game for the investors and the owner of the project.

Your description of this token shows it doesn't have any actual utility, and i for one can't buy something that is not useful, if i am to use Bitcoin as an example, i accumulate more of it every now and then because of its utility, i can either use it as money to buy a commodity or a coffee at a local restaurant, i could also hodl it since it is sustainable for the long period, and i am pretty sure it will appreciate in price in the long run, and i can always sell it in a matter of seconds because the demand for it is always rising.

Having said that, i'd not purchase a token that i can neither sell or do anything with, except of couse if i am extremely rich and fascinated by it, and thus i wanna buy it for fun, or pleasure, i am not even too sure if that makes much sense.

I don't see a sense of buying a token that never cannot be sold on the market, It's not worth having unless it has a significant utility that we need or want. As far as I know binance somehow did a similar token that cannot be transfer a like of a soul token that is inbound to your account. Somehow it has utility and having the trust that people give to binance, I'm sure someone want's to purchase.

Honestly if it served another purpose to be usable and had intrinsic value that I seen as beneficial to my life in using then why not.  Not everything I do is financially motivated.  Doing cool stuff and having access to things that I like to get/do is sometimes just that, the end goal.  If that token could get me access to something like that then yes I would.  Almost like an entrance fee.

Is this like the BAB token on binance??
as long as the token has a use then I will buy it for future purposes, but if it really doesn't have any use for what I buy something that is obviously just a waste of money.

This is a hypothetical token and no there is absolutely no benefits in it. You get what was explained in OP and nothing more.
But you raise a good point and the problem with this point is that using a token is extra work that is not providing either party any benefits.

If a centralized organization wants to give its users some benefits (eg. VIP status) then the users simply sign up with that organization/company and give them their money and receive those benefits into their accounts.
Using a token on top of that is not providing users any additional benefits not to mention that it adds extra costs for the company that has to create and distribute those tokens while still doing everything else I explained before.

Take bitcointalk for example. There is a VIP account, there is Copper membership you can buy, ... you simply sign up for bitcointalk and pay the forum that money to get those benefits without needing any extra work for creating tokens buying and storing them and all that additional work not to mention the extra database that the forum would have to store (waste storage space) to handle all users.

I thought that after the title, which was also the question in the poll, the OP would just be a follow up question like, "Then why buy _____?"

If this exactly same question would start with "Will you support...", the majority of the poll answers would probably remain to be no but then most of the voters are actually supporting the exact kind of token. It might be a different answer though if instead of just token, it is specified.

Like for example, "Will you support Pi token if its price never went up and you could never sell it?" Pi token is exactly this kind of token and yet people are still blindly supporting it.

Then this token will work as an accessory to our wallet and ideal for people who like to collect like those who are buying nft art. Well I think there are people who are willing to buy despite of the fact that they cant sell it later on. Those people are not investors but a collectors. Regardless of the price they will buy it because they want it. They just value the particular token to hold as their asset or as part of their collection.

For me as an investor, i'm buying coins that has utility and can give me profit in time. Therefore gaining is a must even it takes a long period, that being said I will not invest in token that I cant sell to profit.

If I knew that I would need the coin or token to use a game or a DApp or pay transaction fees on something like ICP or Ethereum I would buy it regardless of that the price was going to do. For example, you need 0xMR tokens to pay for mixing and private bridging from Ethereum to BNB chain. It's used as a fee. On ICP, transactions can be set by the DApp creator to either be free or make the user pay. Also, if the user is storing something on the blockchain, like an NFT, they will need to pay storage fees.