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Author Topic: PURPOSE OF TOKEN?  (Read 1327 times)
SellBuyAcc
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April 28, 2018, 04:57:05 AM
 #1

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.
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bachus
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April 28, 2018, 05:32:24 AM
 #2

If you mean token = alternative cryptocurrency, then you can exchange it oneday to Ethereum, and ethereum is convertable to bitcoin, lol.

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April 28, 2018, 06:02:27 AM
 #3

Every ico has its own token. They give their token name. Tokens are different because different company does it. To not confuse the people where they invested. Some tokens has a purpose for their company, some is not because it is scam.

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April 28, 2018, 06:13:09 AM
 #4

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.
I think they invented their token to know their project. The purpose of the tokens is to promote their program, so some people buy it or invest in it. We just need to promote their project by joining their bounty to earn their tokens.

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April 28, 2018, 07:28:59 AM
 #5

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.

A blockchain project is often a program and is an open source program.


Free open source programs are not done, and they must be driven by commercial interests.


To issue a Token, the total amount of tokens can be checked, the founding team can clearly have a part, how much, and the tokens can also be checked.


When anyone USES such blockchain project services, it is necessary to pay a certain fee for using tokens.


The more people you use, the more demand you have for these tokens.


The number of tokens is often limited, demand increases, and tokens increase.


To increase the value of the tokens, the project team/developer is naturally motivated to develop the project more fully and to attract more people to use the blockchain project service.

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April 28, 2018, 07:43:37 AM
 #6

Hi guys, this just bother me long time ago, and just popped up recently..

What is the purpose of token?

I can not figure it out because I have one token before and I did not know how to use it and I can not even transfer it to bitcoin. I am just wondering why people keep inventing and creating so much token at all.
I hope I can get POSITIVE response and not some hates and negative one.

Thank you.
The token you talking about is the altcoin. They not just invented it because for your information altcoin or token in in demand in crypto why? Because it's affordable when you invest there. If you not know how to use your token or how to invest there I think you need to research if you are willing to learn and to earn.

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April 28, 2018, 07:45:48 AM
 #7

Which token are you talking about? Different tokens have different purposes. Some token have no tokens an we call them shitcoins. Others have real world usage and have definite value.

A token is any coin that is created through a smart contract and part of a network, such as ERC20
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April 28, 2018, 08:22:57 AM
 #8

The main purpose of token for Users is to use the token in the system that the ICO issuers provide, The ico organizers don't really need to give the tokens to users to make it's system useable, but they do that because that's their way to earn money, they sell the tokens for users and then the money they get is being used for development and social marketing( no to mention that a large amount of that money just goes as profit for organizers, and that's the way that most of them just exit the project without finishing because they already got their money in their hands).

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Gyugita
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April 28, 2018, 08:32:43 AM
 #9

If the meaning of the token in the gift means the usual reward he becomes an altcoin asset. To redeem to the rupiah would need to redeem the Token that dapet it to bitcoin and bitcoin it in exchange to rupiah.

To find out if the token can be redeemed in the exchanger where it needs to keep updating on the main thread of the gift. The next step is login in myetherwallet or else search for token asset and login also to market exchanger to redeem the token, After login on 2 platform just send token to market exchanger but do not forget before want to email token from myetherwallet must have ETH for its cost . Skip, After finished exchanging IXT tokens at market exchangers, Now definitely have ETH from token sales in market exchangers where token exchange is. Well from the market exchangers where token exchange was, exchange the ETH with Bitcoin and after exchanging it with bitcoin now just send bitcoinnya to VIP / Triv (Market Exchanger Indonesia), Wait a while and if bitcoin already arrived in Triv / VIP just sell bitcoin to rupiah. And from the rupiah that can be melted to a local bank in Indonesia.
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April 28, 2018, 08:36:48 AM
 #10

Tokens are a means of ownership of the asset that you've been seeding / funding through an ICO that's listed. Think of it like a fundraiser that provides people tokens or gifts, such that once their service is up you can use those tokens to basically make use of the service. Once the service has some sort of value, this value is displayed on an exchange (A token exchange which is different from a cryptocurrency exchange), like for example an ERC-20 Ethereum token for ICO's that are based on the Ethereum blockchain).

Now, there are a couple of things here that determine the worth of the token and how they can be used:

There are a lot of medical based blockchain ICO's or blockchains built on top of the Ethereum network that provide some form of tokens which you can use to pay your doctors for their services or pharmacutical companies for the medicines that you buy. This is a very innovative use of tokens for patients. These tokens may be tradable for cash on an exchange that enlists it and vice versa.
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April 28, 2018, 08:38:40 AM
 #11

until now I also have not understood, but I think before the token is made must have experienced the research stage once someday if the token is already famous and be sure to be used, it is for now the use of new tokens not yet seen, but look at the coin that already exists, some of them already have its own function. the point is just a matter of time
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April 28, 2018, 01:27:14 PM
 #12

AFAIK tokens are created for investors to trust the company / project you want to work / are doing. For example ICO TRON conducted on August 1st, the creator of TRON took the Proof-of-Stake algorithm to create a TRN Token for its ICO. At that time, ICO TRON wanted to create a decentralized platform.
So by doing such a thing the creative creator counters will get rewards or payouts by uploading or distributing their original content.
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April 28, 2018, 01:32:56 PM
 #13

People continue to invent new alternative cryptocurrencies in order to make money. Everyone can create their own project.
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April 28, 2018, 01:53:39 PM
 #14

Token (a company's virtual currency) is used as a transaction tool to make it easier to detect. Token itself has the desired exchange of the company itself but more dominates to ethereum (erc20). And there are on certain exchanges. As the policy of the company itself.

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April 28, 2018, 02:10:14 PM
 #15

Every ico has its own token. They give their token name. Tokens are different because different company does it. To not confuse the people where they invested. Some tokens has a purpose for their company, some is not because it is scam.
Token is basically intended to fund a contract with a more liquid coin. Where investors will receive tokens from businesses that run the offer. Companies can serve certain and better customers by offering tokens as exchange rates. In addition to exchange rates, tokens can also be used for gift giving to customers, employees, or others.

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April 28, 2018, 02:20:14 PM
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There are some tokens designed to cheat money. Many projects themselves are a bubble. Their sole purpose is to enter the stock exchange. This is totally a hoax. There are still a small number of tokens that are valuable. These tokens work with many companies, and tokens are equal to the equity of these companies.
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April 28, 2018, 03:27:40 PM
 #17

the token will continue to exist as long as the ico of the project continues to run and the token is just an alternative to bitcoin and tetep being altcoin and will not be able to replace bitcoin. so people can choose bitcoin or altcoin as an investment and others.

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April 28, 2018, 03:38:06 PM
 #18


What is the purpose of token?

Token is an obligatory aspect of any ICO.
ICO is a form of cryptocurrency crowdfunding - that is attracting investments for the development of the project.
These projects receive funds in Ethereum or Bitcoin that are traded on the exchanges. Less commonly, other currencies are accepted by the ICO.
In return, the investor receives certain "tokens." They are the internal asset of the ICO/project - such an analogue of the company's shares.

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April 28, 2018, 03:43:27 PM
 #19

Have you ever read the white paper of the token you have? Don't just take and gather some random token that you don't have any idea how to use them.
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April 28, 2018, 10:47:44 PM
 #20

If you mean token = alternative cryptocurrency, then you can exchange it oneday to Ethereum, and ethereum is convertable to bitcoin, lol.
I suggest you to do the steps that is provided above. If you just started in cryptocurrency do you think you can buy 1 btc? I think not if you're not rich so tokens are created. Your tokens can be traded to ethereum by using trading site then ethereum to bitcoin.

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