Crytocurrency Bounties, Airdrops, and Exchange Talk are Big Red Flags

[steplaza]

I do agree with the part on Bounties and airdrops, I am not that convinced on the exchange part. While it is formally true that exhcnages don't add value but allow for exchange of value, we have to admit that in the current crypto scene being added to several exchanges (where some are better than others) gives coin credibility, popularity and a general belief that the coin is worth something. So as a matter of fact it adds value, moreover if your coin has value but there are no ways to buy it (exchanges) this value will never be reflected in a price increase (price that is by the way calculated as the average between exhcanges that list the coin)

[AllenTurner]

These are the core of the crypto currency market. We do need to have a good knowledge about this market in order to have a good strategy. This article is good indeed for beginners to kick start their investments or even on the bounty hunting.

[dbravo]

Article on the crypto market can be useful to the people. As they can learn a lot on the market. but it should be noted that the article must have legit information. There is an link to article given in the thread, it can be read and checked with other articles with similar topic.

[publiccoin57]

I also agree, your opinion. Bounty projects help me earn a lot of money for myself.
Making things happen does not cost me much money to enter the crypto market.

[Speed Shopper]

Red Flags? Sure.

Maybe, they're just indicators of infancy?

Time will tell.

Thank you for reading my article.  I agree that it could just be infancy indicators. That is indeed a silver lining or perhaps wishful thinking.

[iconoclast]

The Article
I wrote the article linked above on Medium.com and I'm curious to hear everyones thoughts.  I see so much about bounties, airdrops, and the rush to get coins/tokens listed on exchanges and see those as BIG red flags.
(Full Disclosure) The last 2 paragraphs talk specifically about our Token (Speed Shopper SSTX) and how we will operate differently from most, so if you don't want to see that part just stop before the last 2 paragraphs.

If you're feeling lazy and don't want to read it all just read 1 paragraph and I'll be glad to at least hear your opinion of that

Bounties and Airdrops are simply a way for start ups to fund their marketing efforts prior to raising capital. They are designed to motivate people to do things that help with the marketing of the coin. There is no rule that says you have to do them. If you have the money you can always just pay for advertising. There is however one other thing that they indicate to potential investors that paid advertising does not. They show that enough people believe in the project that they will be prepared to be compensated for their efforts in the coin. I had a look at your project and the one thing that stood out is that you are a one man band with no one seemingly willing to attach themselves to your project. That would for me be a red flag and I would not participate in your bounty or airdrop if you offered one.

[Speed Shopper]

The Article
I wrote the article linked above on Medium.com and I'm curious to hear everyones thoughts.  I see so much about bounties, airdrops, and the rush to get coins/tokens listed on exchanges and see those as BIG red flags.
(Full Disclosure) The last 2 paragraphs talk specifically about our Token (Speed Shopper SSTX) and how we will operate differently from most, so if you don't want to see that part just stop before the last 2 paragraphs.

If you're feeling lazy and don't want to read it all just read 1 paragraph and I'll be glad to at least hear your opinion of that

Bounties and Airdrops are simply a way for start ups to fund their marketing efforts prior to raising capital. They are designed to motivate people to do things that help with the marketing of the coin. There is no rule that says you have to do them. If you have the money you can always just pay for advertising. There is however one other thing that they indicate to potential investors that paid advertising does not. They show that enough people believe in the project that they will be prepared to be compensated for their efforts in the coin. I had a look at your project and the one thing that stood out is that you are a one man band with no one seemingly willing to attach themselves to your project. That would for me be a red flag and I would not participate in your bounty or airdrop if you offered one.

Thanks for reading my article and replying.  Bounties and airdrops don't have to be bad things, however giving out tokens/coins prior to them having a practical use, then listing your token/coin on an exchange is a massive currency dump waiting to happen.  Bounty hunters don't have to BELIEVE in your project.  The majority of them don't BELIEVE in the projects they promote.  They simply BELIEVE that they can convince others to BELIEVE in the currency and they BELIEVE that the currency will get listed on an exchange so they can dump them on others in exchange for currencies they BELIEVE actually have real value.  That is what we have been seeing play out over and over again.

I have chosen to be honest about the fact that I am the only full time employee of Speed Shopper at this time, but I am no one man band.   I work with a team of developers who are Independent Contractors and experts at what they do.  I also have investors who have helped me fund Speed Shoppers Development up to this point.  I could have asked my friends and associates to pretend to be my Employees and Advisory board to fabricate some sort of facade.  You've indicated that if I had done that, you would have perceived that others are willing to "attach themselves" to my project which would somehow make our token appear more valuable to you.  That is the kind of thinking that has caused so many to be scammed.  You don't need to check my company for a Team and Advisors, simply check the reviews of the Speed Shopper App in Google Play and wait for the release of the updated iOS and Android app and download it for yourself to see if you like it before participating in the token crowdsale.

You should ask yourself this question.....If a company can afford to hire a big, well educated, highly talented Team and attract the attention of prestigious Advisors, then why do they need to sell tokens or coins to the  to raise funds??  Also you must ask yourself why do they need so many people?   The only numbers you should concern yourself with as a holder(hodler) of the token or currency are transaction(not exchange related) numbers that show use case of the currency.   Speed Shopper will grow our personnel as needed, but right now we are quite efficient.  I hope you will consider downloading the upgraded version of Speed Shopper to be released later this month.

[Speed Shopper]

I do agree with the part on Bounties and airdrops, I am not that convinced on the exchange part. While it is formally true that exhcnages don't add value but allow for exchange of value, we have to admit that in the current crypto scene being added to several exchanges (where some are better than others) gives coin credibility, popularity and a general belief that the coin is worth something. So as a matter of fact it adds value, moreover if your coin has value but there are no ways to buy it (exchanges) this value will never be reflected in a price increase (price that is by the way calculated as the average between exhcanges that list the coin)

If a coin/token has value, there will always be a way to obtain it.  That's part of what gives it value.  Exchanges are not how everyone should be thinking about obtaining the coin/token.

For example, If I live in England and I can exchange goods and services for British Pounds then I care very little about exchanging my Pounds for Japanese Yen until I visit Japan.  The problem is people are creating their own "British Pounds" but there is no England! then they want to be able to exchange the Pounds for Yen and wonder why everyone is dumping the Pounds they created for Yen instead of HODLING and waiting for an "England" to be created.

I'm saying Build England then use your Pounds in England first, this creates value.....then exchange for Yen.

Exchanges do not give a coin/token credibility, it gives the coin/token visibility and yes popularity, but that is not always a good thing for the coin/token because it leads to volatility which is bad for any currency.

[EricJones]

Cryptocurrecy bounties, airdrops and exchange talk are important for the development and support of these cryptos. The importance of them cannot be overly emphasized on. They are needed to promote new ICOs, or already existing ones. They have also proven to be a way that people who are interested in it can make good earnings.

[Speed Shopper]

Cryptocurrecy bounties, airdrops and exchange talk are important for the development and support of these cryptos. The importance of them cannot be overly emphasized on. They are needed to promote new ICOs, or already existing ones. They have also proven to be a way that people who are interested in it can make good earnings.

They have also proven to be an easy way to trick crypto investors and pump and dump cryptocurrency.  They are not necessarily needed.  If something is truly valuable, one doesn't give it away so easily.  In the case of bounties, it's paid marketing, but the bounty hunters more often than not dump the coins/tokens for bitcoin and ether as soon as they get listed on exchanges.

[gathingbrus]

really very disappointing. To be honest this has lasted long enough. And until now never even gets better. but it is precisely the longer declining.

[Speed Shopper]

really very disappointing. To be honest this has lasted long enough. And until now never even gets better. but it is precisely the longer declining.

Not sure what this means.