Personal Tokens - why I issued my own personal token.

[szanow]

Hi.

I would like to introduce to You a new concept of a Personal Tokens. I'm a Polish Bitcoin Youtuber (13k subscribers), I'm into Bitcoin since 2013 and now I'm involved in this market full time. I mine, hodl and do business.

Earlier this year I've become fascinated with idea of having my own personal token to price my market value as a person. And after few months of inner discussion I've decided to issue a Personal Token called "Token of Szczepan Bentyn" [BEN] (my name). I wanted to check if this concept has any chance on the market.

Token info:
Name: Token of Szczepan Bentyn
Symbol: BEN
Total Supply: 21000000
Decimal: 4
Token address: 0x108c05cac356d93b351375434101cfd3e14f7e44

Exchanges:
https://etherdelta.github.io/#0x108c05cac356d93b351375434101cfd3e14f7e44-ETH
https://coinbe.pl/market

Youtube channel: https://www.youtube.com/channel/UCcMCMdVFhU25uCpC4kJAo3A

I gave out to my wife, friends, family and my greatest followers (totally arbitrary) 3mln BENs - I thought that I would like those people to have a stake in my future success. Later I've put 500k [BEN] on the EtherDelta exchange. Three hours after a facebook live announcement I've sold tokens worth more than 20 ETH.

Grand Idea
I love Bitcoin and I hodl Bitcoin. I belive Bitcoin is going to be a base currency for whole new economy we are building. But after a year of my experiment with my personal token, I strongly belive that everyone will/can have a token! And a reason is simple - everyone hold a value! Tokens has no intinsic value. Token is just a tool to price a value which is already there! Maybe instead of Universal Income (tokens for everyone), we promote Personal Tokens (everyone has a token)?

Possible cases
1. Young sportmen issue a token to get financing for traing, diet and equipment. What will happen to the value of his token when he gets to the Olympics?
2. Musicans - get cash for recording a song and a clip. What will happen to his token if his song gets viral on YouTube?
3. Politicans - gets money for a campaign, and get to the parlament. Guess what happens to the value of his token if he gets corrupted?
4. Charity - buying tokens from pure kids, or tokens of teachers in pure countries?

Based on these belives we've developed smartcontracts and website to help creators, influencers, musicians and sportsmens bring their personal tokens to the market. Our first Personal ICO started on Friday, and this Polish YouTuber collected more money than he expected in his ICO.

Visit our website to find out more. We have more YouTubers, musicacians, sportsmen in line waiting for their Personal ICOs!
(We are not doing our own ICO...)
personaltokens.co

Is a personal token a security?

[solarrobot]

I don't really get the point.  If there is no use for the token, whats the point of the token?  Right now people don't even understand the mechanics or economics of these things and are just throwing money around.

Not saying this can't or won't be a thing, but tell me what the point is? How does this create efficiency or value for any one involved?

[dzkrb]

So what? Has someone already bought you? 

[szanow]

I don't really get the point.  If there is no use for the token, whats the point of the token?  Right now people don't even understand the mechanics or economics of these things and are just throwing money around.

Not saying this can't or won't be a thing, but tell me what the point is? How does this create efficiency or value for any one involved?

IMHO Tokens do not create any value, they are just a pricing mechanism of the value their represent. And in the case of personal tokens, they represent a common interest (incetives). Cause the issuer has most of the tokens and his incentive is to make it more valuable - and You as a token holder make profit out of his hard work (in other words "greed").

[solarrobot]

I don't really get the point.  If there is no use for the token, whats the point of the token?  Right now people don't even understand the mechanics or economics of these things and are just throwing money around.

Not saying this can't or won't be a thing, but tell me what the point is? How does this create efficiency or value for any one involved?

IMHO Tokens do not create any value, they are just a pricing mechanism of the value their represent. And in the case of personal tokens, they represent a common interest (incetives). Cause the issuer has most of the tokens and his incentive is to make it more valuable - and You as a token holder make profit out of his hard work (in other words "greed").

But you only make a profit if there is demand for the tokens... so the tokens have to do something, or have some kind of dividends. Some reason that they would become more scarce, or some sort of utility that gives them a reason to be bought.  Nobody sane is going to buy your token just because they like you.

[sesiah]

I don't really get the point.  If there is no use for the token, whats the point of the token?  Right now people don't even understand the mechanics or economics of these things and are just throwing money around.

Not saying this can't or won't be a thing, but tell me what the point is? How does this create efficiency or value for any one involved?

IMHO Tokens do not create any value, they are just a pricing mechanism of the value their represent. And in the case of personal tokens, they represent a common interest (incetives). Cause the issuer has most of the tokens and his incentive is to make it more valuable - and You as a token holder make profit out of his hard work (in other words "greed").

thats great but how are we here at bitcointalk as a community going to befit you and your token to befit us, what is the big picture behind the token that we may into it.

[joey.rich]

I love the concept of a personally backed token.  Most people seem to think that there should only be a small number of cryptocurrencies with large market caps and that all other cryptos are useless / scams.  That sentiment was stronger a couple of years ago but the ICO phenomenon has really caught on this year, so maybe we are getting closer to accepting a plurality of cryptos.

A personally backed token/currency will have only as much value as you put behind it.  That's a departure from what we've seen in crypto so far, which is for currencies to have value based on hype and speculative value.

If you want your token to have value, put tangible value behind it.  For example, pledge that all intellectual property that you create in the next years will be owned by the tokenholders.  Pay dividends to token holders, or regularly buy and burn tokens (similar to a stock buyback).  Your tokens will only have value if you make good on your promises (covenants).

Check out kmikeym if you haven't already.  Based on my research he's the first guy to do something like this.  That was in 2008 but wasn't a crypto/blockchain thing.
https://www.theatlantic.com/magazine/archive/2013/04/putting-the-i-in-ipo/309255/