ICOs should only create Tokens with Working Products or Services

South Park

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

This could happen in a perfect world, but we are not in a perfect world, just look at other markets, do you see only one company manufacturing one type of product? Of course not you have ten or even twenty companies creating the same product, this competition is good for the economy and the same happens with icos, I do not have problems with repetitive projects but I do have problems with scams.

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Yeah right, they should have a minimum viable product (mvp) in their project, so peoples who want to invest will know they are really developing their project. If the Mvp is able to be used, more peoples will have interest about their ICO because they have a real product already.

NewBet

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This is it, if they were creating tokens with working products and services people would not be having a problem with them but they are making tokens with products and services that are either already being offered by another token or they are bring in unsustainable products, it should not be so. We should be having coins we can be sure will survive for the long term.

pharaon

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

You are right in something, it would be ideal, but some developers do not have start-up capital to implement at least a beta version or a prototype of the product, for which ICO will be held. The problem really is only that most want only easy money.

nemesio

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Society needs could not be described as certain terms. For instance, part of sosciety needs tokens for staying anonimous while buying adult toys and videos. Does it worth creating token? And who to decide it?

MR_Klip

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

cryptocurrencies were created to provide all the people with alternative way, which is different to way that is proposed by government. we do not need regulation

jayendo

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

We all have similar point of view of the situation, but history shows that governments are only organizations that abble to control something, so let's wait for their turn.

ryanfromrethink

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And what shoudl we do with the all existing projects? Even single unified database does not exists, how can you control a thing without it?

walterwhite28

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Quote from: neuronchain on October 05, 2018, 03:33:54 AM

True. An ICO that has already a real-world implementation will last long. One should always consider checking if an ICO has a viable product.

Most ICOs doesn't have that though. They promise big but they can't show anything to support what they're claiming that's why I'm being careful on ICOs I'm choosing.

neuronchain

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True. An ICO that has already a real-world implementation will last long. One should always consider checking if an ICO has a viable product.

gerjiss

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90 percent of the projects that can be seen are exactly like this, and this does not include scams. The funny thing is when there's a hard cap of $ 20 million. The project successfully collects this money, and then the tokens appear on the exchange at a price of 10 times less.

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

It's not the token that has a working product but the project itself. Tokens are just payments from ICO for their products. I think you mean that ICO should make a working product and services to have their tokens valuable.

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Quote from: frausoft on October 03, 2018, 02:05:50 PM

I fully agree with the topic starter. Over the past year, many unnecessary tokens have appeared. And everyone says that they are doing a brilliant project. Although in fact most people have nothing but a roadmap and whitepaper.

There are situations when a project team has a good idea and a big experience in its area but there are no resources for a development of at least a prototype. Or it can be that an idea requires a too big seed capital. ICO definitely, is the fastest way for reaching new achievements and tops of success. But risks are inevitable here.

xWolfx

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Of course! - I personally like to support ICOs somehow for the projects behind them mostly. Just like any business they should be made to be useful for society like you said. That way a lot more confidence will be drawn towards the Cryptocurrency world, especially if we find a way to minimize the number of scammers out there. How? Maybe leaving easy to find resources for people to see where to look at ICOs that are trusted.

Some people just want a quick profit and don't care about bringing something of value, but both can be done without too much problem and with possibly a lot more benefit.

slightmoon

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Really product or service the most important thing. Even after ICO ends also it's a matter how well product going in the market or how people like the service. Many time ICO gets the good investment with a working product but after that product isn't able to get strong user-base and coin become just shitcoin.

bovesgiraffe

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ye, it's mostly true, but there are some cases when without a product an ico still has a lot of potential

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Actually this is the reason why market is strugling right now. We have too many projects with no product or infinite delays or similar problems. People started to see this as a big scam and tend to avoid it.

Ferki

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Quote from: solkinsolali on August 31, 2018, 08:32:54 PM

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Ok,how about ICOOWP? Initial Coin Offering of Working Products.Oh wait,there are IPO´s already.But i think i know what you want to say.We all hate scam ICO´s

conanmori

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Product is the second thing im looking when I see an interesting project. A project with MVP that have a unique idea or already finish is one of the investors looking.

I don't know why people investing in ICO who doesn't even have product to begin with those kind of project mostly survive just a few years if they don't do some direct support with the company project.

kobita333

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that is why most of the coins will not be able to survive in the upcoming year. It will be replaced by some real useable cryptocurrencies. In my opinion, people even should not invest those kinda coins because there is a great chance of losing your whole investment.

Topic: ICOs should only create Tokens with Working Products or Services (Read 2132 times)