ERC20 gives birth to too many shitcoins - page 6.

letyouearn

legendary

Activity: 1722

Merit: 1014

Quote from: VDraci on July 02, 2019, 03:29:38 PM

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.

ERC20 is just a good platform to begin with. Many good startups started their way with ethereum ecosystem, and this is good I think. Ethereum platform is a crypto accelerator

Aniwura

jr. member

Activity: 378

Merit: 1

One of the reasons I will never leave ERC20 platform tokens is that, despite accommodating coins that can be very useless, it also allows those that are useful. If some are not working out well, at least I have seen very good ones. Even if they will not continue to be there, at least before moving, they would have made an impact.

akitha

member

Activity: 742

Merit: 10

before erc20 token was born there are so many shitcoins sitting out there in the market already.. just check out in the coinmarketcap you can see them on the last page Grin

..shitcoin born and scammers were born as well Grin

.. those fraud project that offers the "self -drop"

Aryleeto

jr. member

Activity: 406

Merit: 1

Quote from: ?? on ??

Not only ERC20 give birth to shitcoins, also there are a lot of shitcoins, most of them copy of another old and trusted projects, and even if there not was ERC20 tokens the scammers or people who don't know how to manage a coin create shitcoins on another platform.

I also think now , ico has long become unfashionable and few people invest in projects on the Ethereum platform , I think shitcoin is really a lot on the Ethereum platform , but few people invest in them

profitgenerator212

sr. member

Activity: 714

Merit: 251

Erc20 is a dapp blockchain that is why it's so. A lot of startups found an easier way to tokenize their products. Though this opportunity has been leveraged on and abused by some but then Erc20 has been one of the best things in cryptocurrency

rosezionjohn

sr. member

Activity: 882

Merit: 301

Quote from: VDraci on July 02, 2019, 03:29:38 PM

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.

I doubt this statement. If only Tron blockchain came in first and became the more popular go-to-blockchain for these new projects, the result would have been the same.

Quote from: VDraci on July 02, 2019, 03:29:38 PM

My answer is too many shitcoins are based on erc20.

This is more like a credit the founder and developer of ethereum since they made it easier for new project developers to launch their own.

AgentZero23

member

Activity: 644

Merit: 10

Since I've started doing bounties in 2017, I have 80 plus tokens and 85 percent are shitcoins or the price is too low. That's why I've made a decision to only do bounties in few projects with a potential to be successful and getting paid good. And also i have received some random tokens and kinda frustrating to have them.

mendra_2009

full member

Activity: 429

Merit: 100

Does this indirectly compare the Ethereum blockchain with the TRON blockchain? I have never blamed anyone about a new token or shit coin, all we need to think about is a way to anticipate or analyze the purpose of making useless new tokens. Let's think about the solution.
Thank you very much.

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Quote from: OptimusPrime_3 on July 04, 2019, 03:59:03 AM

I believe you are one of those that always want to talk against regulation and decentralization. Ethereum is a typical example of what decentralization is all about so why now do you hate it so much? I think you need a deep study of how ethereum works then you can rethink about you calling it a scam

Yeah, he really needs deep understanding of how Ethereum works, every company have their vision and one of the vision of Ethereum is to create a decentralized system like that of bitcoin, and when you call a system a decentralized one, it will surely give opportunity to different kind of people without segregating, but with the proof of stake that are planning to develop, I believe that it will make the system stronger.

Ethereum cannot reject any project that comes for its smart contract, which is why they do advise anyone that is participating in those projects too to do their own due diligence before investing in any of them,Ethereum smart contract will always be open to everyone. The only think Ethereum can do later is for them to implement KYC, and maybe through that, they will be able to be strict with any project that intends to scam, but if that is the case too, it will still be more of lik operating a centralized system.

gabbie2010

sr. member

Activity: 2590

Merit: 322

SOL.BIOKRIPT.COM

Personally I felt its very alarming the rate at which shitcoins capitalized on the flexibilty ethereum smart contract ERC20 and anonymous transactions of cryptos to create many of these coins is very outrageous thus gives room for scams to thrive on, I wish there should be regulations on these coins else investors fund will continually go down the drain due to failure and delisting of the worthless ones in an exchange.

Riboflavv

newbie

Activity: 25

Merit: 0

It is true, many erc20 tokens are utterly useless and will never be used for anything as their ICO claims are never fulfilled. On the other hand it is good for everybody that it is so easy now to create a token. I can easily now launch a token for a personal project without any real cost and this token is secured by the ethereum network. This gives rise to a lot of innovation.

This flood of useless erc20 tokens also has a self healing mechanism as now people start to realise that it is not worth it to throw money at every dumb token ico project.

minatour

member

Activity: 687

Merit: 11

Quote from: VDraci on July 02, 2019, 03:29:38 PM

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.

there are lots of shitcoin, but not all shitcoin!
you just need to choose it right, if you don't research first in your investment, I will guarantee that all your investments will only become shitcoin.

Google+

hero member

Activity: 2464

Merit: 550

Leading Crypto Sports Betting & Casino Platform

Quote from: smyslov on July 04, 2019, 06:33:39 AM

I wonder if Ethereum is not existing and we only have Bitcoin and those clone of Bitcoin like Litecoin, what would be the scenario, I think there will be less scam in our community, ERC20 makes it easier for individual and groups to scam people in the community, but we never know the scammers will always find a way.

ERC20 should only be used as one of the alternative solutions for good transactions, many parties misuse ERC20 for crimes such as making scam projects and others, this is not a mistake of ERC20 but this is purely a mistake of irresponsible people.

pinoy.bolanon

member

Activity: 350

Merit: 10

"In CryptoEnergy we trust"

Quote from: VDraci on July 02, 2019, 03:29:38 PM

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.

Because its the product of Ethereum project and we could not avoid it, as their project offers creating a token in their blockchain, so the best thing to do is we need to be aware of what project we are investing or engaging, i know that shitcoins really exist at this very moment but what we need to do is to increase our awareness of such projects.

smyslov

sr. member

Activity: 2030

Merit: 269

I wonder if Ethereum is not existing and we only have Bitcoin and those clone of Bitcoin like Litecoin, what would be the scenario, I think there will be less scam in our community, ERC20 makes it easier for individual and groups to scam people in the community, but we never know the scammers will always find a way.

old fart

member

Activity: 308

Merit: 10

Bitcoin is the future

Erc20 has been the hub of shitcoins, it is easy to issue tokens on the ethereum blockchain, saw on a WhatsApp group recently where they are charging less than $10 to teach on how to issue erc20 tokens.
Vitalik should really do something about it, before ethereum loses its reputation.

OptimusPrime_3

jr. member

Activity: 308

Merit: 1

Quote from: bitgolden on July 04, 2019, 03:06:09 AM

Quote from: VDraci on July 02, 2019, 03:29:38 PM

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.

Honestly speaking, Ethereum is the major problem that we have in this cryptocurrency industry, and truth must be told. This is why I so much hate Ethereum, because they are the one that gave chances to some of these scam projects. They sold innocent investors out to scammers because of the little smart contract fee they are collecting from them, and i will say that ETHEREUM is really the biggest scam as regards their smart contract.

If only they were following this products up diligently like the way Binance is doing, but no, they will rather prefer to keep approved all manners of shitcoins that keep proposing to them without doing their due diligence first. I don’t know about the chain you mentioned here and I will look into it, but I still respect the tactics that Binance in using in accepting their own IEO projects, which is why you may never see any shit project coming from Binance chain.

I believe you are one of those that always want to talk against regulation and decentralization. Ethereum is a typical example of what decentralization is all about so why now do you hate it so much? I think you need a deep study of how ethereum works then you can rethink about you calling it a scam

bitgolden

legendary

Activity: 2926

Merit: 1130

Leading Crypto Sports Betting & Casino Platform

Quote from: VDraci on July 02, 2019, 03:29:38 PM

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.

Honestly speaking, Ethereum is the major problem that we have in this cryptocurrency industry, and truth must be told. This is why I so much hate Ethereum, because they are the one that gave chances to some of these scam projects. They sold innocent investors out to scammers because of the little smart contract fee they are collecting from them, and i will say that ETHEREUM is really the biggest scam as regards their smart contract.

If only they were following this products up diligently like the way Binance is doing, but no, they will rather prefer to keep approved all manners of shitcoins that keep proposing to them without doing their due diligence first. I don’t know about the chain you mentioned here and I will look into it, but I still respect the tactics that Binance in using in accepting their own IEO projects, which is why you may never see any shit project coming from Binance chain.

calandra78

copper member

Activity: 840

Merit: 114

Quote from: ElmedoRator on July 04, 2019, 01:49:50 AM

On ethereum's blockchain platform, highly secure and without complicated procedures, it is also a popular and easy-to-use platform, many people can create and use coins on this platform.
This makes scammers take advantage of investors' money

maybe it's a weakness of ethereum. when more and more project scams, it is possible that investor confidence will go down to the project with ERC platform. it will be one of the reasons why the value of ethereum does not develop much. decreased trust from the community, it will be bad. although the percentage is very little.

ElmedoRator

full member

Activity: 826

Merit: 104

On ethereum's blockchain platform, highly secure and without complicated procedures, it is also a popular and easy-to-use platform, many people can create and use coins on this platform.
This makes scammers take advantage of investors' money

Topic: ERC20 gives birth to too many shitcoins - page 6. (Read 1362 times)