Definitely a slap to the investors' face. If they are minting for the sole purpose of development then what's the use of their planning earlier in ICO phase. That's actually stupid lol moreover, if a project that's popular doing some coin minting then they might be fine, the market could somehow handle it but a project with rather low market cap minting new coins doesn't guarantee it will generate money for developer but instead the price could go lower and their freshly minted coin + old coin will be worth the same.
Anyway, always stay away from this kind of project or you just have too much money on your pocket and just want to throw some lol.
Topic: Minting Of New Tokens....Does it Benefit the Project Investors ??? (Read 131 times)
December 10, 2020, 05:23:04 AM
December 10, 2020, 05:17:41 AM
Well, the problem is why it's important that all/most participants of Decentralized Crypto Network/Project are part of consensus to determine the best path for their project. But lots crypto projects(esp recent ones) don't seem to like the idea. They are not really decentralized projects if small part of network participants (probably people they know privately) are deciding how projects should be ran. Such crypto can be described as pseudo-decentralized... you should be careful with them.
Every network member should be able to run full node and take part in network consensus/governance. Decision like that (printing more without network consensus or without the consent of the whole network) would become breaking of network rules or illegal/immoral.
Every network member should be able to run full node and take part in network consensus/governance. Decision like that (printing more without network consensus or without the consent of the whole network) would become breaking of network rules or illegal/immoral.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
December 10, 2020, 04:38:14 AM
Minting new coin = scam
if they wanna get more funds to continue the further development progress and it must be generated from the profit that they have received it from their product. I will not welcome with a project that can mint a new token. This is a garbage scam project. That means the team has the ability to minting more and more tokens anytime.
if they wanna get more funds to continue the further development progress and it must be generated from the profit that they have received it from their product. I will not welcome with a project that can mint a new token. This is a garbage scam project. That means the team has the ability to minting more and more tokens anytime.
December 10, 2020, 02:45:32 AM
how would you react if the project youve invested money in and hodling for over 2 years waiting for price to go up makes an announcement letting the community know that they will be increasing the supply of the token by minting more tokens?
If you are asking on a general question then definitely not will benefit investors. The concept of law of supply and demand applies here. If the supply increase, you know very well that the demand will get lower. Also depends on the reason why would they do mint new tokens. Like what carbon said, if the team will mint new tokens for them then this is a tragic event. Some investors will definitely panic cause it will cause dump. Thats the problem with unlimited supply or big supply that has not yet fully distributed kinda scary that it could throw on the market wrecking the price. legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
December 10, 2020, 02:13:43 AM
Minting tokens is only beneficial to where the newly minted tokens goes. If it belongs to the team then only the team can benefit it. There are several coins in the past where ERC tokens were minted for the, the price quickly dropped too.
DGTX seem like this been planned but for some like AERON tokens, the team decide for themselves which makes the team like a scam
Yeah thanks for you reply mate, DGTX really have had this planned since 2017 when they first launched, it's even in their white paper but the issue is that the first minting was supposed to happen in 2021, but they shifted it down to December and made the announcement 2 days to the decided minting day, and another issue the community is not happy with is that the rate at which the minting will happen is too much, I was personally hodling some good amount of dgtx tokens but dumped them all when I saw the effect of the news in the market. DGTX seem like this been planned but for some like AERON tokens, the team decide for themselves which makes the team like a scam
December 08, 2020, 02:18:40 PM
Minting tokens is only beneficial to where the newly minted tokens goes. If it belongs to the team then only the team can benefit it. There are several coins in the past where ERC tokens were minted for the, the price quickly dropped too.
DGTX seem like this been planned but for some like AERON tokens, the team decide for themselves which makes the team like a scam
DGTX seem like this been planned but for some like AERON tokens, the team decide for themselves which makes the team like a scam
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
December 08, 2020, 02:06:54 PM
Hi Guys ,
i know that the crypto community gladly welcomes Burn, like when a project decides to reduce the supply of their token through burning a certain amounts off the total supply, this usually drives the price of such token up cus the community believes that the lesser the supply of the token is, and with higher demand, the price of that token will sure go up.
BUT ON THE OTHER HAND....
What happens when a project for whatever reason(s) decides to increase the supply of their token through minting new tokens ?
personally, i know this is beneficial for the project itself as this will help the developers raise more fund to run the project most especially, if an expansion of the project is decided by the team, But for the investors of the project, do you think think this is beneficial to them in anyway ?
Like see yourself as an investor in such a project, how would you react if the project youve invested money in and hodling for over 2 years waiting for price to go up makes an announcement letting the community know that they will be increasing the supply of the token by minting more tokens?
Please Note: this is my post from another forum, posting here to get your thoughts and opinions too.
i know that the crypto community gladly welcomes Burn, like when a project decides to reduce the supply of their token through burning a certain amounts off the total supply, this usually drives the price of such token up cus the community believes that the lesser the supply of the token is, and with higher demand, the price of that token will sure go up.
BUT ON THE OTHER HAND....
What happens when a project for whatever reason(s) decides to increase the supply of their token through minting new tokens ?
personally, i know this is beneficial for the project itself as this will help the developers raise more fund to run the project most especially, if an expansion of the project is decided by the team, But for the investors of the project, do you think think this is beneficial to them in anyway ?
Like see yourself as an investor in such a project, how would you react if the project youve invested money in and hodling for over 2 years waiting for price to go up makes an announcement letting the community know that they will be increasing the supply of the token by minting more tokens?
Please Note: this is my post from another forum, posting here to get your thoughts and opinions too.
Jump to: