Bitcointalk Token

[LoyceV]

Tokens are created to solve existing problems

You got this completely wrong: tokens, like altcoins, ICOs, Forks, DeFis and NFTs, are solely created to make the creator rich. They missed out on Bitcoin when it was cheap, create their own BS, spam it, hype it, and due to FOMO and greed people give them their real Bitcoins in exchange for something that will be forgotten again 2 years from now. Then just rinse and repeat!

But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

[1714102088]

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[zasad@]

But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

https://usdonethereum.com/
https://btconethereum.com/
   
Decentralized bitcoin trading
https://bitcointalk.org/index.php?topic=5290331
For me, these tokens solved a huge problem. 95% of my trade is done on decentralized services.
The administration can make a Governance token to manage the forum. With the help of tokens, you can vote on various proposals, if of course they want to make this forum decentralized.

[snipie]

No offence but sometimes I feel that meta is worse than reddit regarding the "recycle" concept.
Similar topics:
https://bitcointalk.org/index.php?topic=5313829.0
https://bitcointalk.org/index.php?topic=5234888.0
...
Best answer:

This has been suggested many times and the answer is still the same: the forum already has a cryptocurrency and it's already the most popular cryptocurrency in the world.

BTW token is worst

[mediaBuzz]

But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

When people start these tokens they make promises that claim to solve real-world problems, and only a few of them actually fulfill their promises. But I found a guy who listed some of the biggest ones that have a real usage (copy-pasted from his list):

- Ripple, which aims to replace the SWIFT interbank payment system with instant transactions and reduced fees per transaction.
- Stellar, pursuing a few of the same goals as Ripple while targeting individuals with the goal of banking unbanked customers around the world.
- Factom, wanting to offer a decentralized platform for notaries.
- Golem, whose stated goal is to become a kind of Airbnb of computing power. The platform lets users sharing some computing power and is based on the Ethereum platform.
- Basic Attention Token, which aims to revolutionize the world of digital advertising with an innovative model that benefits advertisers, publishers, and users.
- Siacoin, offering a fully decentralized cloud storage platform.

I checked Siacoin, they seem to already release their platform and people are using it.

[LoyceV]

But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

https://usdonethereum.com/
https://btconethereum.com/
   
Decentralized bitcoin trading
https://bitcointalk.org/index.php?topic=5290331
For me, these tokens solved a huge problem. 95% of my trade is done on decentralized services.

Thanks for taking up my challenge. I completely disagree! You say the trading is decentralized, but the token itself is not. The first site isn't loading (on Tor), the second site shows there's 43 billion dollar on Ethereum. Wrapped Bitcoin claims to hold 140,000 Bitcoin. Their website shows "All WBTC issued will be fully backed and verified through on-chain proof of reserves.". There's very little information for a site who's WHOIS information is private. I also have a hard time believing Tether has 130 billion dollars on a bank account somewhere (and even if they do, they'll have a very hard time withdrawing it).
It goes against the very basics of Bitcoin: "be your own bank", "not your keys, not your coins" and "verify, don't trust".
When you buy Bitcoin, you know you buy a volatile asset that you and only you control. When you buy Ethereum tokens pegged to whatever, you have to rely on a third party. It all screams Bitconnect to me. What happens to the value of your wrapped Bitcoin when the guy who holds the reserves pulls an exit scam? It's a bit like having US dollars pegged to gold.  Until someone decides to end it and you're left with money that loses value over time.
Would you believe it if someone sells you gold bars on Ethereum?

- Ripple, which aims to replace the SWIFT interbank payment system with instant transactions and reduced fees per transaction.

Ripple is an altcoin, not a token (so it's kinda cheating to my challenge). I know it has some real life value between banks, but as far as I know it doesn't need many XRP coins for that. And it's centralized. If not many coins are actually needed, there's no justification for a 45 billion dollar market cap. And the recent legal scares made it all the more clear that centralization is not a good thing.

- Stellar, pursuing a few of the same goals as Ripple while targeting individuals with the goal of banking unbanked customers around the world.

Also an altcoin, not a token. Slightly less centralized than Ripple, created by the same guy as Ripple. The fact that he earned billions of dollars from his premined altcoins confirms what I said:

You got this completely wrong: tokens, like altcoins, ICOs, Forks, DeFis and NFTs, are solely created to make the creator rich. They missed out on Bitcoin when it was cheap, create their own BS, spam it, hype it, and due to FOMO and greed people give them their real Bitcoins in exchange for something that will be forgotten again 2 years from now. Then just rinse and repeat!

- Factom, wanting to offer a decentralized platform for notaries.
- Golem, whose stated goal is to become a kind of Airbnb of computing power. The platform lets users sharing some computing power and is based on the Ethereum platform.
- Basic Attention Token, which aims to revolutionize the world of digital advertising with an innovative model that benefits advertisers, publishers, and users.
- Siacoin, offering a fully decentralized cloud storage platform.

I don't know those coins/tokens enough to have an opinion on them

I'd love to continue this discussion outside Meta

[casperBGD]

"Forum" doesn't have to do anything. After all, bitcointalk already has its coin.

Regarding that part about having to buy bitcointalk tokens in order to run bounty/airdrop. if theymos really wants to monetize that too, he can simply charge that in BTC, no need to make another currency. I really don't get this obsession to make token for every single thing there is..

yeah, you have right, forum does not have to do anything, and that is a fact
what could be done is put a governance token, if they want to have community lead forum, but I do not see that as their intentions, maybe they prove me wrong

with all crypto and DAO developments, it does seems that companies will take DAO directions for their governance, especially if they are crypto related

nevertheless, personally, I do not see the need for the forum to go in that direction, it is not fast growing, not crypto related in their business (there is no crypto native stuff on the forum, just discussions about it)

Tokens are created to solve existing problems

You got this completely wrong: tokens, like altcoins, ICOs, Forks, DeFis and NFTs, are solely created to make the creator rich. They missed out on Bitcoin when it was cheap, create their own BS, spam it, hype it, and due to FOMO and greed people give them their real Bitcoins in exchange for something that will be forgotten again 2 years from now. Then just rinse and repeat!

But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

there are few tokens/coins that have real world utilities, like:
$THETA - which is revolutionizing streaming industry
$FIL - that is completely changing file storage industry
$LINK - putting off-chain values on-chain in secure way (oracles)
- what their main application is kicking-out the middle man in the process

[Lucius]

The forum must create it's native token and distribute them to members based on their activities.

The only thing anyone must to do in life is to die, it is inevitable for all people no matter who it is. The forum is a private place and has its own rules, and a circus with tokens would do the forum more harm than good. Members who are active on the forum are rewarded with free knowledge, and many also receive rewards by participating in signature/avatar/bounty campaigns.

You got this completely wrong: tokens, like altcoins, ICOs, Forks, DeFis and NFTs, are solely created to make the creator rich.
But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

There is nothing to add to this, the truth is simple and very obvious, only if someone wants to accept it.

[sujonali1819]

My stupid mind thinking that if the token will not be listed in any exchange, or it's not tradable then how it will work, why the company buy the token before running campaign here? If it's not tradable in exchange then I don't think we need that token despite the merit system having here. Imo merit is acting like that token.

* We have already the coin Bitcoin and for why this forum was created.

[famososMuertos]

There is redundancy in his idea. (context-message)
I am be careful not to criticize the idea, really having ideas is something that drives the different social and technological areas, etc. But sometimes you unknowingly fall into "redundancy".

^{An idea in itself is only the beginning of something it is the long way to execution}

[Imran232]

Bitcointalk already has it own token / coin. Don't you know about that? Bitcointalk is the first native coin creator in this world. And the coin is bitcoin. And bitcoin is our native token / coin what ever you can call. Because after creating bitcoin our respected sir satoshi nakamoto creat this forum with the name of bitcoin. And the reason to the name of bitcointalk is though the project name is bitcoin and we will be discussing about bitcoin means we will be talk so that is why its name is bitcointalk. Wooohoooooo. We got a new world.

[Insanerman]

The forum must create it's native token and distribute them to members based on their activities.
Tokens must be transferable among forum members but should not be listed on any exchange.

Although the ticker btt is already taken, we can have btf that stands for bitcointalk forum.
 Any crypto project planning to run their airdrop or bounty campaign must buy these tokens first from forum. This will give forum another stream of revenue generation.
This will also prevent scam projects from running bounty and running away without paying.

This is an idea that all members, that already gone through tons of crypto events, would be pissed off. Why? Tokenizing a reputable forum would only lure shitposters and spammers here. Also, this forum is created mainly for the Bitcoin itself, hence Bitcoin alone is the token that was arose from the forum. You should even see that Bitcoin is the most successful crypto that isn't really a token for something. Hence, adding a more complex system of tokens would only deal a huge work for devs yet won't really help the forum itself.

[nakamura12]

Not to go against the idea but I have a question about the bitcointalk forum token if it ever be created. So, what would be the use of the token if it is created for the forum?. There should be a use of the token rather than just creating it for forum members to receive base on something like merit or activity points.

[stompix]

- Ripple, which aims to replace the SWIFT
- Stellar, pursuing a few of the same goals
- Factom, wanting to offer a decentralized platform for notaries.
- Golem, whose stated goal is to become a kind of Airbnb of computing power
- Basic Attention Token, which aims to revolutionize the world of digital advertising

Nice list but we have which aims, want to, goal, aims again but none has actually managed to do something better than the current solutions. During the ICO craze while I was still browsing actively the altcoins section I've encountered tens of coins who claimed to be the ones that will replace everything from over to booking.com yet none has ever managed to even launch a business with a few customers.

The problem with all those tokens is that the token itself solves nothing, it's just a token that can't do anything unless there is a platform for it and there are people using it and a bitcointalk talk will be the same, there will be no need for it and it will not be able to anything special plus it will attract a lot , A LOT of drama. There is enough of that with the current coins the forum holds, with a tradable token it will be one hundred times worse, plus it will raise some unwanted attention the forum would be better of without.

there are few tokens/coins that have real world utilities, like:
$THETA - which is revolutionizing streaming industry

Call me when the revolution is over finised successfull

[royalfestus]

The forum must create it's native token and distribute them to members based on their activities.
Tokens must be transferable among forum members but should not be listed on any exchange.

Although the ticker btt is already taken, we can have btf that stands for bitcointalk forum.
 Any crypto project planning to run their airdrop or bounty campaign must buy these tokens first from forum. This will give forum another stream of revenue generation.
This will also prevent scam projects from running bounty and running away without paying.

This is just an insinuation or suggestion that will lead nowhere, didnt you read 'BITCOIN'talk in the name, why another token after the bitcoin? Bitcoin was a reward for bounty campaign and still some reward for some projects. The forum was started by Satoshi himself for bitcoin, not for altcoins or bounty campaigns. Managers are most times responsible for teams denial of reward, this cant happen to some managers, they will rather pay with their money than deny bounty hunters their reward.

[OgNasty]

But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

Too many for me to sit here and name to be honest. When the Bitcoin narrative pivoted from being a transfer of value to a store of value many other coins and tokens were necessary for businesses to continue operating their models based on low cost transfers without crippling the user experience. You may not like the way many users chose to solve the problem that Bitcoin’s pivot from it’s originally stated purpose created, but their existence can’t be denied or written off as only to enrich themselves. Some projects that stayed and tried to innovate in order to continue functioning on Bitcoin’s blockchain have even been criticized for the shortfalls that continuing to use BTC instead of a lower cost altcoin have created.

As for the actual topic of the thread, I think this was started 4 days late.

[RickDeckard]

But feel free to prove me wrong: how many of the thousands of different tokens that were created in the past years have actually solved a real problem?

Too many for me to sit here and name to be honest.

This is an honest question (and perhaps a stupid one) but could we consider Monero as one of this successful projects? I mean, it's original development started here before branching out to another forum but could it still be considered successful? On a side note I do believe that the term "successful project" is kind of an ambiguous one - we could delve in what it means to success in the crypto world - but for simplifying the discussion let's assume that it just means that it employed an actual economy around it (if you agree with my position that is).

[cryptoaddictchie]

OP has a point though, Bitcoin should be distributed to members based on their Activity earned Merit
Let's see: about 875,000 Merits were sent, the forum owns about 1250 Bitcoin. That makes 1.4mBTC per earned Merit and puts me at half a million bucks.
Serious answer: no, let's not turn an April Fools joke into reality.

Haha that's gonna make you more richer LoyceV. Probably theymos already have goosebump with this idea though.

Like majority said OP, there is already a coin for bitcointalk forum and you can read it right away. That's the native coin of this place, since it is created by the forum founder. I dont know how you think this forum hasn't generated enough revenue but I assure you they are well earning from ads.

Bounty on the otherhand will only give headache if this plan happened.

[Alucard1]

I don't think that the bitcointalk forum will need to create its token, it will just become a shitcoin just like the forum of crypotalk, as they have created their token which is the talk token, one of the shitcoin as well before it has the value of 200 satoshis but now its current price is only 4 satoshi and for sure this would be a dead coon soon. I've already become a victim of those shit coins and lost my money so I would never trust again those kind of tokens.

[pooya87]

- Ripple, which aims to replace the SWIFT interbank payment system with instant transactions and reduced fees per transaction.

Ripple is an altcoin, not a token (so it's kinda cheating to my challenge). I know it has some real life value between banks, but as far as I know it doesn't need many XRP coins for that. And it's centralized. If not many coins are actually needed, there's no justification for a 45 billion dollar market cap. And the recent legal scares made it all the more clear that centralization is not a good thing.

There is also a big difference between Ripple and XRP. The banks were (initially) interested in Ripple (the technology) and wanted to adapt it while not caring about XRP at all. That failed since SWIFT is already centralized and adapting a different technology didn't provide the promised benefits and the same banks abandoned it while only some remained for the profit from pump and dumps since they were partners with Ripple foundation and had the premined coins in their control.

P.S. Some people are also confusing solving a problem with pretending to solve a problem while adding dozens of new ones. It is the bitcoin forks all over again, they pretend they are solving bitcoin problems while adding dozens of new serious issues while the problem they pretended to solve also remains strong!

[suzanne5223]

The forum must create it's native token and distribute them to members based on their activities.
Tokens must be transferable among forum members but should not be listed on any exchange.

Although the ticker btt is already taken, we can have btf that stands for bitcointalk forum.
 Any crypto project planning to run their airdrop or bounty campaign must buy these tokens first from forum. This will give forum another stream of revenue generation.
This will also prevent scam projects from running bounty and running away without paying.

The idea of the forum creating its own token make sense but what's the point if the forum already support Bitcoin and Grin as payment for copper membership and from my point of view 98% of all reputable member of the forum don't support altcoin and we can practice whats forum like altcointalks practice on this forum.
Do you know the worth of their altcoin in the market?