What happens when new altcoins encourage religious, political and other agendas?

[Cryptomultiplier]

I stumbled upon this thread on Twitter talking about the emergence of islamiccoin. In the history of altcoins, I wonder who would try to create a religious coin and with what motive?
What happens when other religions and political offices and even other sections of power launch their own coins?
I know most already exist, is this move more to empower followers of such beliefs with a future proof and profitable financial instrument and should be encouraged or will this cause an even further divide with evolutionary complications?
Uganda is one of the nations who has embraced this development and is championing the cause to help their Muslim community redefine themselves through entrepreneurship and investment in both cryptocurrency.
 

If 3-4% of the Muslim online community will hold Islamic Coin, it will become a bitcoin-scale crypto asset!

Reference link:
https://twitter.com/Islamic_Coin/status/1620656062125719555


What are your thoughts? Let's discuss!

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[lovesmayfamilis]

Any new altcoins bearing the idea of any religion should already be defined as a scam. The thirst for profit, which is exactly what overcomes the developers of these projects, already denies the principles of any religion.
Many such coins have been created in history; can you check where they are now? Are there any successful examples? Gathering followers in one direction or another around you is a bad idea. And I don't think that believers can become investors in such crap. Although today's madness of the whole world with the denial of everything previously stable will find followers

[naira]

I've seen it a few times on Twitter and indeed they use the promotion feature to draw the community into it. Once again, regardless of the purpose of the coin, I'm not sure that carrying a religious label will make them interested in investing. Because such a coin is only under the guise of gaining trust and as if applying a religious concept. But the fact is that it is really for the benefit of a handful of people, including those who manage the project. At this time, don't be easily provoked by labels in the name of race, religion, or certain groups because there have been many projects like this using masks for personal gain.

[vv181]

Ironically, meme-based coins are way more promising than belief-based coins/tokens. It also has been proven.

The possibility such tokens are created only to scam or extract money is very likely compared to a mere belief reason. Or simply only a cult-like follower would use such religious/political-backed tokens/coins. I'm certain such an altcoin will not provide any value or utility thus the only reason it could exist is a mere belief reason. So, there is no significant point an altcoin could thrive based on the things you mentioned.

[avikz]

These are memecoins! Not to be taken seriously at all! This kind of coins will take a trip of the market, some traders will make money and then all will be gone. I am sure there's no motives behind the creation of this coin.

Coin developers are slowly running out of subjects to name their coin so now they seems to be using religion to put an emotional angle to their marketing. But the market is even more intelligent and such coins will be doomed sooner than later.

[TheUltraElite]

Bitcoin is an epitome of free speech and freedom from these dogmas. If someone inside is trying to incite such topics and using that to polarize users, they should not be given any more of your time. There are cunning users trying to use these angles to get investors into their pocket but that is just another scamming method which you all must understand.

Previously I have seen coins like ADAB exchange which was also a shady project using religious sentiments and that project is nowhere to be found now.

In either case, someone inciting an agenda is an immediate red flag. Trust bitcoin and stop spending your money on useless memecoins and shitcoins.

[Ketesnuko]

My money would never be invested in a religion coin; it has no purpose, as a religious individual, one does not have to identify by the God they are worshiping; God always know his people, but in these types of cases, it's still all about making money. I know there are still people who believe in this kind of coin, so I don't see a problem, but believe me, all in the name of religion, big money can be made, it's why we have more pastors and prophets today.

[Wexnident]

Scam man, or just meme coins. They're basically using religious ideas to enforce the idea that they're coin is "religious" when it's not. A catholic person creating a nuclear weapon does not in any way at all make the weapon holy. I'd honestly just avoid any stuff like this, it's vaguer than altcoins being wishy washy about their project descriptions really since you can't exactly explain religious ideas in a systematic way. In addition, I don't think great investors relied on religion in the first place to grow where they are right now. They might have used it at some point, but definitely not in a symbolic way.

[Xal0lex]

There is no great success with such coins. Most Islamic states treat cryptocurrencies negatively, and many even completely prohibit the use of cryptocurrencies, considering it all to be some kind of fraud and a threat to traditional life. Before that, there were various crypto projects that touched on religious issues and promoted Islam in the crypto community. All these projects turned out to be scam or abandoned altogether due to low interest in such projects. Cryptocurrencies have not yet entered the ordinary life of the population so much as to create such projects and expect success from their implementation and promotion.

[Silberman]

I stumbled upon this thread on Twitter talking about the emergence of islamiccoin. In the history of altcoins, I wonder who would try to create a religious coin and with what motive?
What happens when other religions and political offices and even other sections of power launch their own coins?
I know most already exist, is this move more to empower followers of such beliefs with a future proof and profitable financial instrument and should be encouraged or will this cause an even further divide with evolutionary complications?
Uganda is one of the nations who has embraced this development and is championing the cause to help their Muslim community redefine themselves through entrepreneurship and investment in both cryptocurrency.
 

If 3-4% of the Muslim online community will hold Islamic Coin, it will become a bitcoin-scale crypto asset!

Reference link:
https://twitter.com/Islamic_Coin/status/1620656062125719555


What are your thoughts? Let's discuss!

Do not give any attention to those coins, if a project is trying to use your personal identity, ethnicity, religious beliefs or political stance for you to support them then you know this project is a scam and there is no way around it, do not let yourself be manipulated by a topic you hold dear as they are hoping to confuse people and abuse their feelings so they feel obligated to use their coin, so this is a very obvious trap and you need to avoid falling into it.

[carlfebz2]

There is no great success with such coins. Most Islamic states treat cryptocurrencies negatively, and many even completely prohibit the use of cryptocurrencies, considering it all to be some kind of fraud and a threat to traditional life. Before that, there were various crypto projects that touched on religious issues and promoted Islam in the crypto community. All these projects turned out to be scam or abandoned altogether due to low interest in such projects. Cryptocurrencies have not yet entered the ordinary life of the population so much as to create such projects and expect success from their implementation and promotion.

We know that these scammy devs would really be creating something as long they would really be able to get enter into the market who doesnt mind if they would be touching up that religious aspect which we

know that it isnt really just right on touching up this area.It is really go beyond the boundaries on which a digital currency should be touching on.There are really things in life which it doesnt really

needed up to be touched.Its no surprise that these projects ending up on demise because touching up religions on just making some shitty coin is always been considered to be more
shitty which its understandable since it doesnt really have any usecase from the beginning. So it is really that bound to die and fail.

[Cantsay]

I remember there was one time called "Lumin" coin with a satanic symbol as its logo unfortunately for them they didn't do well and I'm not sure if they're still functioning up till now. I believe that any coin that's religion based is most likely going to end up scamming investors, I feel like they're targeting the member of such religions since they're going to embrace the project because of their beliefs.
There's nothing that's going to convince me to invest in a religion-based coin.

[cryptomaniac_xxx]

Nah, I don't think that it will happen though, as crypto is not tied to any religion, color or even political agenda. I mean we have heard a lot of crypto that is based on Islam, or crypto about football which is the number 1 sports in the world.

And yet nothing has become out of them, so it's not about that. Crypto like bitcoin has been the prime moving because people chose to support it, no matter what. Whether it was developed for Muslims or for any religion, it doesn't matter. As long as the crypto delivered what it promised, investors are going to buy them.

[Rengga Jati]

I stumbled upon this thread on Twitter talking about the emergence of islamiccoin. In the history of altcoins, I wonder who would try to create a religious coin and with what motive?

Whatever the name and concept, this kind of project will not work in my country and will not attract many people to join the project, except the people who are usual with the hype projects to take the profits with the hype name. However, if this relates to religion, politic, or other specific agendas, it will be too risky and sensitive, right? That is why it is still not sure if this kind of project will go bigger, except they have a very big investor that can influence the world to follow.

[crzy]

Considering the total number of followers of that specific group, I’m sure it will be a big effect to the project or even to the market itself. Though in reality, religions are not getting involve on this, they allow their people to choose on their own and have a freedom to choose. If someone asked you or forced you to buy something because you are part of the group, I think that is more risky to follow and better to leave that group while you still can.

[eaLiTy]

I stumbled upon this thread on Twitter talking about the emergence of islamiccoin. In the history of altcoins, I wonder who would try to create a religious coin and with what motive

You can start your own project, copy the source code and rename to a religion, name anything you want and start advertising which is going on for years and this is not a surprise, for every election you see a coin named and launched and you will see liquidity in that for a while, if you are not into pump and dumb coins, just ignore them as it will end up being a scam just like 1000s of other alt projects.

[AakZaki]

such coins are just coins that are used for profit only, not really used as a new innovation in crypto. When the profit has been obtained it will be abandoned. religious, political etc based coins don't seem to be a good one to follow. Because in reality it will be useless. Religion base coins seem to look more racist because they don't reflect the religion itself. Personally I would avoid coins or any such projects.

[goaldigger]

They are trying to be more aggressive by using such group for their own benefit, if its not an official announcement from any religion, you can assume that its a scam project who just want to take advantage of the large group. I also don’t like the idea of this because you don’t promote freedom here, which is not a principles of cryptocurrency. Avoid at all cost, I believe you still need to decide for your own regardless of your group or what.

[trendcoin]

There cannot be decentralized money representing a religion, a nation or a region. Money itself is a universal concept. The most powerful example in a historical context is gold. If we consider the problem in this context, it is not difficult to guess that such projects may have been created for fraudulent purposes. I consider them all in this context. Also, it should be noted that scammers target such concepts because they have always encompassed large audiences throughout history. Today's examples will be neither the first nor the last.

[NdaMk]

A scammer will always use every method to get his job done. They are just like politicians doing everything in their power to win an election. We have seen numerous times projects that underline some mistakes in other project and promised to correct them and they all end up dead. I am practically sure since they have been recent debates as to maybe it is non Haram for Muslims to invest to cryptocurrency that might have prompted this Islamic coin developers to give it a name just to lure people mostly Muslims into investing in it