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Topic: ERC20 gives birth to too many shitcoins - page 5. (Read 1373 times)

hero member
Activity: 924
Merit: 520
I don't think ER20 standard or any other blockchain platforms gives birth to too many shitcoins but rather it was borne out of greed by fraudsters that greatly capitalizes and take advantages on other peoples naivety. Imho.

True, the large number of shitcoin is not wrong with the technology that runs beneath it, but it's because of the scammers themselves. In the ERC20 vision it is not said that ERC20 is intended for scammers, because this system is universal and all can use it. The problem continues, it depends on how the person who manages it, if it is wise it will be a good token and vice versa.

Additionally, I would like to emphasize that existence of shitcoins will never stop or at at least be minimized as long as there are people who are innocent and often lack experience in cryptoland as they are the ones who are fueling its existence and often encourage its perpetrators to do it shamelessly. I guess we can help minimize this issue if we help share ideas with others and try to acquaint them about the pitfalls in crypto-industry so that they may not become a victim of this schemes. Smiley
hero member
Activity: 2268
Merit: 709
In fact I cannot blame this statement of this thread. The ease of programming a Smart Contract of a Ethereum blockchain token has also generated so much superficiality, incompetence and fraud attempts. Otherwise, if a coin has its own blockchain, the investment in work to do is much greater and the scams would be less.
full member
Activity: 1498
Merit: 129
I once read a comment of one of the legendary member here on BTT about how easy it is to creates an ERC20 smart contract with just little amount and this is exactly why many project always rush to make ERC20 token. Many of them can not afford a fully optimized website not to talk about going with blockchain technology that best suite their project. In case you don't know, a lot of project that intend to launch bounty this day make use of erc20 token just because they want to lock some certain people's token when it is released for them. All these are what we have noticed
jr. member
Activity: 42
Merit: 1
i agree with your statement but i am also very pleased to see that erc20 gaves so many real and big project Smiley
I agree also, one of the best an real projects is HST decision token, voting on the blockchain using erc20.
full member
Activity: 826
Merit: 104
i agree with your statement but i am also very pleased to see that erc20 gaves so many real and big project Smiley
member
Activity: 116
Merit: 12
Many other people created a project with the erc20 platform, because the erc20 platform is very dominant throughout the world compared to Tron, which is new to the platform, and the erc20 platform is easy to change and easy to operate.
legendary
Activity: 1890
Merit: 1003
Shitcoins are really annoying after the all scam projects but it is not in our hands to stop it,unfortunately. Shitcoins can be used for pump and dump but these coins have no real value on the crypto ecosystem. ERC20 pump-dump tokens are not going to make someone rich with single buy order.
member
Activity: 746
Merit: 10
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Most ico projects use the erc20 platform because it's easy to reach, and we also can't violate the erc20 network, because it all depends on the team developing their tokens on the erc20 network. if they have good performance in developing their tokens I think the results will also be good.
member
Activity: 546
Merit: 11
Now, many shitcoins trying to rise again, although they had been dead for a very long time, I hope they will not succeed.
member
Activity: 361
Merit: 10
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This is not ERC-20 problem, where many projects gather there gives too many shitcoins. Tron blockchain doesn't has support and Ethereum has enough.
the market of ethereum and tron ​​is indeed different. ethereum develops with a very large community. while still not enough to grow their market with a community that is still not too large compared to ethereum. ERC will find a solution for making ethereum chains that are used by many platforms that make a lot of shitcoin. I'm sure the developer will complete it.
member
Activity: 616
Merit: 13
If we start counting all useless tokens in crypto space you will notice that most of this useless tokens are running on erc20 block chain ,many good altcoins ive came across have separate owned block chain and they are plain better, I guess the reason we have too many shit altcoins in crypto space is because of the flexibility of erc20 ,making it easy for unprofessionals to build there useless tokens.

We have some good altcoins that are running on erc20 but you will see then moving to their own block chain later on or it will be included in  their roadmap about the future swap.

The reason why I like tron block chain is the ability to get rid of fake tokens running on tron blockchain if ethereum can do this it will help a lot.

My answer is too many shitcoins are based on erc20.

i still love erc 20 tokens and ethereum itself. The fact that there are way too many erc 20 tokens out there is the clear sign that ethereum is really wildly adopted and the name of the game is "the most adopted wins in the end".
hero member
Activity: 3066
Merit: 536
Leading Crypto Sports Betting & Casino Platform
I don't think ER20 standard or any other blockchain platforms gives birth to too many shitcoins but rather it was borne out of greed by fraudsters that greatly capitalizes and take advantages on other peoples naivety. Imho.
But you should put a note about that if those fraudsters are abusing the system that already created in the blockchain ecosystem. Shitcoin will never birth if there was no a fraudster or scammer that control it from behind.
hero member
Activity: 2184
Merit: 513
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I don't think ER20 standard or any other blockchain platforms gives birth to too many shitcoins but rather it was borne out of greed by fraudsters that greatly capitalizes and take advantages on other peoples naivety. Imho.

True, the large number of shitcoin is not wrong with the technology that runs beneath it, but it's because of the scammers themselves. In the ERC20 vision it is not said that ERC20 is intended for scammers, because this system is universal and all can use it. The problem continues, it depends on how the person who manages it, if it is wise it will be a good token and vice versa.
ERC20 is not intended to scammers, it is just so many people misusing it out of the convenience of ERC20 which is can be freely created by everyone.
That's the disadvantage of open source project, people are free to creates their own whether they are criminals or good people.
legendary
Activity: 1386
Merit: 1003
I don't think ER20 standard or any other blockchain platforms gives birth to too many shitcoins but rather it was borne out of greed by fraudsters that greatly capitalizes and take advantages on other peoples naivety. Imho.

True, the large number of shitcoin is not wrong with the technology that runs beneath it, but it's because of the scammers themselves. In the ERC20 vision it is not said that ERC20 is intended for scammers, because this system is universal and all can use it. The problem continues, it depends on how the person who manages it, if it is wise it will be a good token and vice versa.
member
Activity: 742
Merit: 12
That's not the fault of erc20, that's a fault of the abusers, scammers and greedy people who tries to create fake/dummy project to get some money out of peoples pocket. If you can recognize the good ones, avoid the shitcoins and it will die automatically.
member
Activity: 476
Merit: 10
Shitcoins give rise to a failed projects or a Scam. Too much ICO, airdrops etc. were released in the crypto world lately and a lot of coins lost their value or never worth anything at all.
hero member
Activity: 2926
Merit: 567
If we start counting all useless tokens in crypto space you will notice that most of this useless tokens are running on erc20 block chain ,many good altcoins ive came across have separate owned block chain and they are plain better, I guess the reason we have too many shit altcoins in crypto space is because of the flexibility of erc20 ,making it easy for unprofessionals to build there useless tokens.

We have some good altcoins that are running on erc20 but you will see then moving to their own block chain later on or it will be included in  their roadmap about the future swap.

The reason why I like tron block chain is the ability to get rid of fake tokens running on tron blockchain if ethereum can do this it will help a lot.

My answer is too many shitcoins are based on erc20.
Maybe 90% of these scam projects are on ERC20 all the bounty that I've participated in are all almost on ERC20, because it is easy to maintain it's like set and go no need to do anything, we have a ready explorer and decentralized exchange for it, really make things easy for scammers to create one.
hero member
Activity: 924
Merit: 520
I don't think ER20 standard or any other blockchain platforms gives birth to too many shitcoins but rather it was borne out of greed by fraudsters that greatly capitalizes and take advantages on other peoples naivety. Imho.
member
Activity: 345
Merit: 10
indeed we can see many bad ERC tokens. but it's not wrong from Ethereum. they have established a policy for making tokens with ethereum chains. they of course had thought about what was happening now. We hope that ERC can be better, widely used by projects and become a big smart contract platform.
jr. member
Activity: 123
Merit: 1
Legit you guys sound dumb everytime you say shitcoins, there are tokens without any purpose and if you invest on them instead of calling shitcoins call yourself a shit investor. Altcoins have been the biggest source of money for me, i'm constantly daytrading between alts at Switch.ag and always getting profit just know the market. If you could see i was telling in these threads to go there and get some link before it blew and people are just missing a great bag just because "SHITCOINS"
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