Topic: Bitcointalk Token (Read 819 times)

How this forum making profits or getting funds to maintain the forum? I think there should be a designed platform where bitcoin can be implemented as a bitcointalk token to be made available to any user to purchase before registration access is granted.

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.

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

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.

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.

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

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

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.

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.   

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? 

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.

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.

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.     

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.

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.

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?

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.

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.

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

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

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.

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.

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://bitcointalksearch.org/topic/--5288914
This is much better than centralized exchanges because you keep your coins and anonymity.

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?

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!

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.

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

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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.

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).

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.

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.

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.


Call me when the revolution is over finised successfull

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.

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.

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.

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".

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

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.

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.

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

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)


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

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 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.


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

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I'd love to continue this discussion outside Meta

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.

No offence but sometimes I feel that meta is worse than reddit regarding the "recycle" concept.
Similar topics:
https://bitcointalksearch.org/topic/--5313829
https://bitcointalksearch.org/topic/bitcointalk-forum-make-own-cryptocurrency-5234888
...
Best answer:
BTW token is worst

https://usdonethereum.com/
https://btconethereum.com/
   
Decentralized bitcoin trading
https://bitcointalksearch.org/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.

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?

I agree, having a separate coin/token for the bitcointalk forum would significantly detach itself from Bitcoin itself and would probably no longer be called the official Bitcoin forum and the original one. And I think Satoshi himself would never approve of such ideas had he been online here it's not really necessary to have a separate token only for revenue purposes

This won't happen but if it did it would put an end to 90% of the tokens because they all rely on the fact that they don't have to spend any money to earn a lot of it out of thin air, which is why they pay their army of advertisers with their own shittoken that they created without any cost
It would be 90% and not all because there are still scammers who have made a ton of money scamming people with the same scam tokens who will be able to spend a small amount of the scammed money to pay for the "ticket to scam" people on this forum!

First the Forum must be nothing !

Second , i guess if your Idea about the Token would be coming that means a lot of more data usage as it already is !
And as others already have written there is Bitcoin that is related to the Forum and thats why the Forum exist.

Why should this prevent from Scam Projects ?
If somebody want to scam he will buy the token and doing it , because a lot of Users would be thinking its safe because he bought the Token.

Why and what would be the use case for it? Buying advertisement space from bitcointalk? It's the only thing i could think of. Just a new generic token without purpose wouldn't serve anyone though.

Not sure if it is applicable or not. But we already have many escrow services in this forum. I think it is more than enough than implementing a complicated idea. If all crypto projects are required to use those escrow services to ensure the payment of bounty hunters, there will be no problem in bounty payments anyway. It is simpler than forcing this forum to make a token to solve bounty problems.

This reminds me of the merit system. Merits were airdropped based on member's activity abd members can send them to each other but can't sell/buy them (sadly, some members do it).

How can this prevent them from not paying bounty hunters? And why do we need a new token in first place? Payments can be made in any of the available currencies.

Tokens are created to solve existing problems but, here, there is no problem to begin with!

I really believe that this kind amount really puts bitcointalk above any kind of forum out there regarding liquidity.
As for any kind of coin related to the forum, I don't see how that would work. I hardly see it being attached to any kind of value, or at least it would be really hard to channel over attention to it by simply being tied to here. Even having an alt section dedicated to discussion in here doesn't seem to gather a lot of attention for most users, why would a coin created on that intent receive any kind of attention at all?

This forum already had a tremendous impact on the history of crypto as is. We are lucky to experience it in the first hand (some more than others). Let's be happy for what we already achieved, and there's still a lot more that will come in the future.

We already have native token for BITCOINtalk forum and it can be transferable among forum members plus it is listed on all exchanges, and it's called Bitcoin.
It's stupid and waste of time to create different token but you can always do it if you want OP.

That 125 is on the donations address. Theymos holds 750 and forum treasurers hold 500 in cold storage. The addresses are public, see Forum funds.
I've just verified all addresses, the above amounts are correct. That makes the total forum funds at least 1375 BTC. That's $80 million.

You're just making some complexity over this. So, how can it be bought and could gain some revenue if in the first place this wasn't tradable in the public crypto market? And, to be honest, I can't see a solution in the scam projects running here just by the birth of the bitcointalk token, the forum can't still moderate it nor prevent it.

So you're suggesting the forum creates a shitcoin which would have no value or utility and never be listed anywhere, then go ahead and give those worthless tokens to members based on activity, even though they could never use them for anything (besides running a campaign on the forum). The admins are then supposed to charge campaign organizers to get those worthless tokens inorder to run their campaigns? I do not think that's going to happen.
Bitcoin is the official currency of the forum.

It's actually 1250BTC according to theymos, I doubt any cost effective project has been implemented in that time to reduce the reserves by that much;

This forum was found and created because of Bitcoin or any discussion and other technical stuff regarding Blockchain, we don't need a fancy token because the forum has already a digital coin and that's Bitcoin.

I tend to agree.

It's 125BTC not 1250, right?  That's what I remember reading a few days ago, and I was surprised that the forum held even that much.

This idea has been floated around before and has fallen upon deaf ears--which will likely be the fate once again, since I don't think Theymos has any interest in creating a shitcoin/token based on bitcointalk.  And frankly there's no need for another coin in a market that's already oversaturated with ones that have no need to exist.  Even if one were created, I doubt it would be popular since most members here are bitcoiners at heart and wouldn't care to screw around with a forum token/coin that would doubtless have zero innovation behind it.  It would just be a novelty coin, and there are already too many of those in existence.

TL;DR: Bad idea.

Don't normalize having tokens in every crypto platform, that doesn't make sense. Bitcointalk can sustain its operational/hosting expense through ad funds since then.

How would a token be any platform's source of income if the token isn't going to be tradable through exchanges in the first place?

Also, the merit and trust systems already exists, and they're working pretty without a blockchain/token, because guess what: you don't need a blockchain for everything!

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.

That being said: OP can of course create a shittoken and create a system where Bitcointalk members can claim it.

I've suggested before to only allow campaigns that pay in something with real value (Bitcoin) instead of tokens made up out of thin air. That didn't happen either.

I have a better idea: let's just close the bounty board

I don't think theymos would be interested in associating the forum and bitcoin with a brand-new shit token. The forum generates plenty of revenue from ads and it's sitting on a pile of bitcoins from the past, so that's very unlikely to happen. It would be good if bounty campaigns had the option to transfer funds to an escrow as a sign of good will that they will pay the participants. But nobody wants to deal with that because the majority of the projects from the Alt space are just scams anyways.  

"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..

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.

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.