Bitcointalk Token

[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.

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?

If we talk about USDT and WBTC, then their tokens are centralized.
You can use DAI and renBTC. You will be able to perform an exit scam on a smart contract, because you will lose collateral, which is much higher than the cost of bitcoins or stablecoins. Any smart contract has the risk of error or hacking, but so far these projects have not been hacked.

Read how renBTC works
https://bitcointalk.org/index.php?topic=5288914
This is much better than centralized exchanges because you keep your coins and anonymity.

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[JollyGood]

How can forum moderators decide which campaigns and projects can be listed here? I think the idea is completely flawed because it takes away from the essence of what the forum is all about.

After reading the case you put forward I cannot see any need for the forum to have a token and you will not find support for this idea even if you think it will reduce the number of bounty scams taking place.

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.

[Mpamaegbu]

The forum must create it's native token

Must The use of that verb, makes it look forced and compulsory.

I like the idea of this forum getting its own token like what some fora are doing, even the Satoshi Street Bets (a famous telegram group) is trying to float its own too. It will be a shame for BTT to lag in this aspect being the pioneer cryptocurrency forum.

but should not be listed on any exchange.

What will be the essence then if it is not listed on an exchange? It's meaningless going through that route.

Although the ticker btt is already taken, we can have btf that stands for bitcointalk forum.

What makes you think this ticker won't be taken up since you've made this idea public?

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.

Nice idea. But this will only work if the proposed BTF token is listed on exchange(s). Otherwise no project will want to pay for a shitcoin.

[KryptoKings]

The forum must create it's native token

Must The use of that verb, makes it look forced and compulsory.

I like the idea of this forum getting its own token like what some fora are doing, even the Satoshi Street Bets (a famous telegram group) is trying to float its own too. It will be a shame for BTT to lag in this aspect being the pioneer cryptocurrency forum.

but should not be listed on any exchange.

What will be the essence then if it is not listed on an exchange? It's meaningless going through that route.

Although the ticker btt is already taken, we can have btf that stands for bitcointalk forum.

What makes you think this ticker won't be taken up since you've made this idea public?

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.

Nice idea. But this will only work if the proposed BTF token is listed on exchange(s). Otherwise no project will want to pay for a shitcoin.

They will get services for buying the btt token. They will be allowed to post their ANN, run bounty and pay participants.
We can have p2p exchange of btt tokens.

[Stalker22]

They will get services for buying the btt token. They will be allowed to post their ANN, run bounty and pay participants.
We can have p2p exchange of btt tokens.

All of this is possible with Bitcoin, if the owner decides to do so; I see no need to use another coin (token).
You are aware that this is the Bitcointalk forum?

[Pmalek]

They will get services for buying the btt token. They will be allowed to post their ANN, run bounty and pay participants.

Posting on the forum is free and admins are not going to change that. That will just take traffic away from Bitcointalk and increase the popularity of Discord channels, Telegram, reddit, etc. Most people have given up on the altcoin boards, and the forum staff aren't interested in policing it and deciding what is good and what is bad. Although that part of the forum is a mess, the admins tolerate those campaigns as a necessary evil because they are aware that many people are interested in that, so it generates traffic and ad revenue.

Just because some campaign purchased those BTT tokens that doesn't make it's trustworthy, and it doesn't mean it wont scam its users. And when that happens, people will start asking questions why did the forum allow that and is the forum responsible or not. That's why it will never happen.

[Mpamaegbu]

They will get services for buying the btt token. They will be allowed to post their ANN, run bounty and pay participants.
We can have p2p exchange of btt tokens.

I'm yet to understand how the project will get to pay participants of their bounties with BTF. It will be easy for projects to pay for services on this forum with the proposed BTF token because the project will be selling BTC for BTF. That's quite understandable. But a proposed P2P exchange for an unlisted token for participants will not work. It will end up as futile exercise. It's a stress no one will want to get involved in. You think if BTC or ETH or other thriving coins of today were only on P2P basis without being on exchanges that they would've got to the point they're today? No, of course.

[Pmalek]

I'm yet to understand how the project will get to pay participants of their bounties with BTF.

What OP is suggesting is that projects use those BTF tokens as payment to the forum. Once they pay a required sum to the forum, they will be allowed to announce their project and receive the right/blessing of the forum to carry out a bounty campaign from where the participants will at some point in the future be paid. So the BTF tokens wouldn't go to the bounty hunters, they go to the forum.     

[Mpamaegbu]

I'm yet to understand how the project will get to pay participants of their bounties with BTF.

So the BTF tokens wouldn't go to the bounty hunters, they go to the forum.    

I understood the first part of this post of yours but this part I quoted is what I can't make anything out of. OP's suggestion of the BTF token still leaves loopholes if the token won't be listed on any exchange. My question is, "How do hunters then get paid?" Except someone is going to tell me that the forum will serve as bounty manager and escrow such funds in BTC while selling the unlisted and worthless BTF to projects. Other than that, I don't see the essence and usefulness of the whole suggestion. That's my point.

[FIFA worldcup]

Like cryptotalk with his own shitcoin?  

I doubt any bounty will buy that token, since they didn't have any funds besides for their operational expenses. That's why they use their own coin to distribute the bounty program.

Let the bounty run the way it is running now, but the bitcointalk token will surely have is value. There are many tokens which do not have any working product live but still are of good value because of the hype. We already have the working product "Bitcointalk forum" and therefore the token will have a lot of demand. Theymos can develop many uses of his token in the forum too.

[Pmalek]

OP's suggestion of the BTF token still leaves loopholes if the token won't be listed on any exchange. My question is, "How do hunters then get paid?"

He proposed that the token be airdropped to each Bitcointalk user based on his activity. Bounty hunters would get paid in whatever coin/token the bounty campaign intends to pay in. I understood that the BTF token would be some kind of insurance and guarantee that the campaign is honest and wants to perform all its duties, which includes paying bounty participants.   

Other than that, I don't see the essence and usefulness of the whole suggestion. That's my point.

Me neither. I don't think it would do anything in the fight against scams. The token doesn't have any real value and is given away for free. If the suggestion was approved and the idea implemented, why would I simple not pay those free tokens, and then still go and scam everyone if that's what I wanted to? 

[mediaBuzz]

Other than that, I don't see the essence and usefulness of the whole suggestion. That's my point.

Me neither. I don't think it would do anything in the fight against scams. The token doesn't have any real value and is given away for free. If the suggestion was approved and the idea implemented, why would I simple not pay those free tokens, and then still go and scam everyone if that's what I wanted to? 

Now people are buying any shitcoin they see as they did back in 2017. No one cares if it has value, backed business, real use case. I imagine what a hype would there be like an official bitcoin forum created their token and only this argument would be enough for thousands of people to buy it blindly.

[dark1234]

good advice to get rid of a scam but.. what it is will be effective and efficient because this will be a new scandal which will become more severe whereas the scam projects also cannot be that easy to avoid because they are more than that but we have to be able to illuminate them, be careful and think carefully

[Williamm07]

We already have something that's way better, that's merit and smerit, at least you will always rank up for your contributions, that's more than having a separate token or coin for this forum, merit system did that just right

[Delighty slyde]

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 a good idea if it can be done because the rate at which people are been scammed in bitcointalk forum is just too rampant am sure this will further regulate this community. And also I suggested this will not only for any one coming here for project advert it should equally affect any new registering member.

[mediaBuzz]

I know on another forum, people gathered and decided to create a token that has nothing in common with the forum itself. Just smart people teamed up, picked up needed specialists for each aspect of the foundation, development, and marketing. They will allocate free coins for each participation depending on their contribution level. Possibly people who were not accepted to the "team" might also get some airdrop coins because the whole forum is going to take part in spreading the coin later when it's ready for launch. People out there creating some shitcoins and naming them Elonsperm, Fuckelon. Something with smart team members and a solid plan would definitely blow.

[FIFA worldcup]

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 a good idea if it can be done because the rate at which people are been scammed in bitcointalk forum is just too rampant am sure this will further regulate this community. And also I suggested this will not only for any one coming here for project advert it should equally affect any new registering member.

How would the bitcointalk token will help to stop people posting scam services or stop the overall scam ? This makes no sense.
Also there is a proper system of ranking up and we don't need a token for that purpose. Obviously we not going to give free tokens based on the activities and merits

[Delighty slyde]

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 a good idea if it can be done because the rate at which people are been scammed in bitcointalk forum is just too rampant am sure this will further regulate this community. And also I suggested this will not only for any one coming here for project advert it should equally affect any new registering member.

How would the bitcointalk token will help to stop people posting scam services or stop the overall scam ? This makes no sense.
Also there is a proper system of ranking up and we don't need a token for that purpose. Obviously we not going to give free tokens based on the activities and merits

When there is bitcointalk token in the forum to use as a gate way for any member to be eligible as a registered member, it will make the process of enrolling as a member more technical and when it become technical than it is now, it will be difficult for a member to carry out any illegal activities here with such account because of the technicality process and the token worth of the  account  because  such account may be ban. And also users will be more careful not to loose their account to scammers due to what the account cost them in registering it alone. Forum rules will be strictly adhere by every users.