Can applications/games that promise coins and tokens as rewards be trusted?

Webetcoins

hero member

Activity: 1904

Merit: 540

Leading Crypto Sports Betting & Casino Platform

Quote from: X-ray on July 30, 2022, 07:07:11 PM

if it can't be trusted and why there are so many people who have been regularly playing the game to earn some money? It can be trusted as long as you didn't spent your money to bought NFT that can decrease its value anytime. I have learned a lot from axie infinity caused by i have suffering a huge lose not from token but from its NFT. The game would be good as long as you didn't need to spent money to earn the money.
The main problem is play to earn game pretty similar like a ponzi game where the early you join the more profit you get.
This is main problem when dealing with the play to earn game

How do you know that so many people are playing the game? By looking at their statistics? But that can be fake out easily. Maybe there are legit players which are trying hard because they don't know anything that is legit and worth their time. They are still hoping on the promise given to them.

And just because it's free, its also mean that is trusted already? I think that's a bad approach. We may not lose money but we can lose our precious time. If only we will be using that time into something which is really worth it, we can feel much better and maybe we can earn some cash. Many people play axie as a scholar where they didn't spend any penny but they are now complaining and leaving the game due to the cheap value of the token.

X-ray

hero member

Activity: 2800

Merit: 520

Leading Crypto Sports Betting & Casino Platform

if it can't be trusted and why there are so many people who have been regularly playing the game to earn some money? It can be trusted as long as you didn't spent your money to bought NFT that can decrease its value anytime. I have learned a lot from axie infinity caused by i have suffering a huge lose not from token but from its NFT. The game would be good as long as you didn't need to spent money to earn the money.
The main problem is play to earn game pretty similar like a ponzi game where the early you join the more profit you get.
This is main problem when dealing with the play to earn game

cryptoaddictchie

legendary

Activity: 2058

Merit: 1315

Platform with reward to earn using their platform is always be a failed system if there are no solutions to problem of supply and use case. Looks like some of them are okay and some of my friends too uses some of these platforms. Id say trust the platform if you are confident with the team and how they handle community. But of course check their details carefully, to know if the team can be trusted well.

Findingnemo

hero member

Activity: 2310

Merit: 757

Bitcoin = Financial freedom

Quote from: Queentoshi on July 20, 2022, 06:57:34 AM

I have come across a couple of applications and games promising various redeemable tokens as rewards for completing simple task like walking or just playing simple games etc. some examples of these applications are STEPN, Sweatcoin, Crypto PopCoin, bitcoin blast etc. How well can I trust these apps? Has anyone here made anything of value from either playing the games or using such applications?

You can trust the token but not the value they proposed because they are giving out them for everyone then the supply will keep increase so without any demand the value is going to down and further until zero. So those rewards are nothing but which is same thing that exists now recreating the same thing with new technology still with no actual real utility.

asriloni

legendary

Activity: 2996

Merit: 1023

Leading Crypto Sports Betting & Casino Platform

You can trust the apps. i have been using stepn and everything goes very well with it. The main aim to use the application was to earn some money from using it. Using application to participate in the game or any activity that will paid you tokens that can be redeemed into the stable tokens.
How can bunch of people using the apps if they didn't even trust it? You must also use your logic. You didn't even need to buy any NFT if you wanna earn small amounts of money.
Keep actively using the apps for that and you will able to earn based on sharing reward.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Jawhead999 on July 23, 2022, 05:32:41 AM

What you need to know is the early adopter will always win and it only survive during the hype happen, when the hype ended, you will expect the token price will suddenly drop and become worthless. The reason is on the beginning, there's less people play, so the tokens are limited. When it's hyped, the price will increase and attract new people to play, due to limited token, not many people can afford or have it. Then, they will ask the developer to mint more token or increase the max supply, this will make the price drop due to no limited token. In the end, it will become worthless.

Those are for short term hype only and if we base at current happening on them we can see that play to earn tokens are in bad situation, even the top NFT games arw suffering from huge dumps. So we need to think twice if we gonna invest on this and if we really like the idea or the game we better sell if we are in profit since securing profit is best than being a bag holder.

Jawhead999

legendary

Activity: 1638

Merit: 1156

What you need to know is the early adopter will always win and it only survive during the hype happen, when the hype ended, you will expect the token price will suddenly drop and become worthless. The reason is on the beginning, there's less people play, so the tokens are limited. When it's hyped, the price will increase and attract new people to play, due to limited token, not many people can afford or have it. Then, they will ask the developer to mint more token or increase the max supply, this will make the price drop due to no limited token. In the end, it will become worthless.

Anonylz

hero member

Activity: 2562

Merit: 577

I am not sure why you should include stepN in your list since earning the token is not free unlike sweatcoin, StepN requires you to invest in other to earn and so far they seem like a genuine project since they are binancelab incubated project, I think to some degree StepN can be regarded as trusted.
As for sweatcoin i really can't say if they can be trusted or not since so far you can easily earn the tokens for free without any investment, while popcoin is completely new to me.

carlfebz2

hero member

Activity: 2926

Merit: 722

Quote from: Queentoshi on July 20, 2022, 06:57:34 AM

I have come across a couple of applications and games promising various redeemable tokens as rewards for completing simple task like walking or just playing simple games etc. some examples of these applications are STEPN, Sweatcoin, Crypto PopCoin, bitcoin blast etc. How well can I trust these apps? Has anyone here made anything of value from either playing the games or using such applications?

Dont have any idea nor have the experience on acquiring these coins from playing games aside from the current NFT-based games we do have today but speaking on what you had mentioned above then earning

by completing some simple task like walking or playing simple games and then acquiring it easily? Its good to hear off and good to acquire but dont expect that you would really be making nasty amounts of it
which you cant even know if it would really be getting some value soon and if ever they do have some value but its just too low then the efforts you had made would really be just getting
your some peanuts.

So its up to you whether you would really be tending to get serious on accumulating these coins or would be putting yourself into other path?

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: Queentoshi on July 20, 2022, 06:57:34 AM

I have come across a couple of applications and games promising various redeemable tokens as rewards for completing simple task like walking or just playing simple games etc. some examples of these applications are STEPN, Sweatcoin, Crypto PopCoin, bitcoin blast etc. How well can I trust these apps? Has anyone here made anything of value from either playing the games or using such applications?

Don't give any overwhelming trust to any of them even if they provide promising profit to their investors since we don't know how they will end up or how long they will last. If you want to invest on the platforms you mention you better check the background as well the price history of their token so that you will not invest late or get a problem when those platform starting to give a head ache to their investors. Make sure always to sell once you are starting to accumulate their tokens to secure your capital and after that its up to you to decide what's next action you want to do.

batang_bitcoin

hero member

Activity: 2968

Merit: 600

Eloncoin.org - Mars, here we come!

Trust is subjective. For example, you've tried all of those that you've mentioned and you've made decent money from them, that can affect your trust to them and you're likely to say that you're trusting them because they made you money.
That's why if it's about asking the trust of others for particular projects, there are bias answers and as well as subjective and reasonable answers as to why they think that the project and app is trustworthy and why not.

Doan9269

hero member

Activity: 812

Merit: 560

Quote from: un_rank on July 20, 2022, 07:05:40 AM

Quote from: Queentoshi on July 20, 2022, 06:57:34 AM

How well can I trust these apps?

You do not trust, instead Verify. This will involve each individual site you are interested in.
When using a crypto related app, or any app at all on your device, you have to verify the source; It gets bonus points if it is open source.
If it is not open source, then you can consider it to be untrustworthy and never share sensitive information on it.

Also, if a game or app presents an offer in redeemables that seems too good to be true. it probably is not true.

I've come across dome which are open source, they present you with task, and rrward you once the task is being completed, request for your withdrawal details and means and this is where the problems began, after providing them with the details they olace you on a reviee check that will never end, another thing they do is to request your referral to others stating the numbers they want, another point is that they may provide you with varieties of bonuse tticks to swindle you away your accumulated coins by playing more games, to me all these stuffs are bunch of scrappy freaks that a serious minded person shouldn't go for at the first place.

OcTradism

hero member

Activity: 1722

Merit: 801

Reward is not bad and you can receive reward in any form, on any platform, in any project.

Last but not least, where is reward come from?

If it comes from a budget of a project for marketing, it must bring effect to that company in user growth, income and the company will continue it.
If it does not bring good effect in finance, the company will stop it

STEPN and other earn tokens are minted from computer, thin air. People buy tokens, mint NFT, playing to earn. Then what is next after earning? They have to sell tokens on market to actually get cash and earn it. It is how selling pressure comes and how price of earn token (reward) will become disaster.

un_rank

hero member

Activity: 644

Merit: 661

- Leo -

Quote from: Queentoshi on July 20, 2022, 06:57:34 AM

How well can I trust these apps?

You do not trust, instead Verify. This will involve each individual site you are interested in.
When using a crypto related app, or any app at all on your device, you have to verify the source; It gets bonus points if it is open source.
If it is not open source, then you can consider it to be untrustworthy and never share sensitive information on it.

Also, if a game or app presents an offer in redeemables that seems too good to be true. it probably is not true.

mk4

legendary

Activity: 2716

Merit: 3817

🪸 NotYourKeys.org 🪸

You can most probably "trust" them in a way that you're actually going to get paid the tokens. But the question is, how will the token perform? Answer: in a downtrend. These ponzi-like systems print out tokens to reward their users; and printing tokens to no end is inflating the supply into oblivion.

Queentoshi

sr. member

Activity: 728

Merit: 308

I have come across a couple of applications and games promising various redeemable tokens as rewards for completing simple task like walking or just playing simple games etc. some examples of these applications are STEPN, Sweatcoin, Crypto PopCoin, bitcoin blast etc. How well can I trust these apps? Has anyone here made anything of value from either playing the games or using such applications?

Topic: Can applications/games that promise coins and tokens as rewards be trusted? (Read 175 times)