Tokens Trash Can. Recycling | Bitcointalksearch.org

Chukwunonso

jr. member

Activity: 154

Merit: 1

Quote from: ahmedktata on May 12, 2020, 07:52:20 PM

this idea came to me after reading this article : https://bitcointalksearch.org/topic/random-token-exchange-an-idea-5246233.
What about making a smart contract that receives a trash token and sends a token that is made with the platform.You might say its just another trash token Cheesy

but its just an idea that can be developed over time . what do you think ?
ps : Trash tokens are on hold by the smart contract and can never be released

From my understanding of what you are trying to say is that a smart contract should be developed for trash tokens. Its understandable that some persons may love to have an avenue where dead projects tokens should be kept instead of remaining in the wallet and not contributing to one's holdings. I personally don't see the financial benefits of this smart contract because it may involve higher expenses.

conkeconke

member

Activity: 125

Merit: 10

Quote from: KaratX on May 14, 2020, 01:46:25 AM

I doubt this is going to work, BAGS Token was created for this purpose to exchange dead coins for BAGS Token but later BAGS Token became a shit coin itself, maybe I should call it lack of interest or pump and dump coin? I don't just know

The truth is I don't understand how the coin will have value when others are dropping useless tokens I'm exchange for your new token, read more about BAGS Token here
https://bagstoken.org/

Totally expected. You can't really uplift a recycling token to a higher tier when every trash token deposit direct to it. The only thing it would do is slowly becomes trash like the one it takes in.

Festac

member

Activity: 210

Merit: 10

You will get nothing but king of shitcoins in return, this use case doesn't make any sense and you will only get your project killed, what good will be dead token result to for you? This is even more stupid that trying to revive a dead project, I'm not in support of this idea

KaratX

member

Activity: 252

Merit: 29

Sovryn - Brings DeFi to Bitcoin

I doubt this is going to work, BAGS Token was created for this purpose to exchange dead coins for BAGS Token but later BAGS Token became a shit coin itself, maybe I should call it lack of interest or pump and dump coin? I don't just know

The truth is I don't understand how the coin will have value when others are dropping useless tokens I'm exchange for your new token, read more about BAGS Token here
https://bagstoken.org/

DarkDays

legendary

Activity: 2030

Merit: 1189

There are already a variety of projects that do exactly this.

They basically work in the same way you describe for the most part. They will provide you with a master shitcoin instead of the bunch of shitcoins you deposit to the site.

However, these platforms actually have an alternate agenda, and are actually trying to gather up a large proportion of the circulating supply for a shitcoin, allowing them to pump and dump it more effectively.

Meanwhile, the master shitcoin they provide you in return it just as worthless, and you'll just waste your gas costs trying to get your hands on any.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: ahmedktata on May 13, 2020, 08:34:09 PM

~
True , but what about the idea itself . does it worth ? its simple to build

when the new token that is being created is also trash then the answer is no, the idea has no value. as i said you first have to be able to justify the existence of this new token since it is not really burning anything it just locks one token up and creates a new token in its place.

of course in token world the value is not defined by utility, instead from the platform token itself like ether down to the shittiest token the value is defined by how much they can be pumped and dumped. i don't think you can pump a new token in 2020 anymore...

ahmedktata

newbie

Activity: 12

Merit: 0

Quote from: pooya87 on May 12, 2020, 11:22:54 PM

Quote from: ahmedktata on May 12, 2020, 07:52:20 PM

You might say its just another trash token but its just an idea that can be developed over time

this is not some small improvement that you could simply postpone to a later time to try and improve. this is a fundamental flaw in the very basics of the idea which needs to be address first before you even take the first step.

True , but what about the idea itself . does it worth ? its simple to build

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: ahmedktata on May 12, 2020, 07:52:20 PM

You might say its just another trash token but its just an idea that can be developed over time

this is not some small improvement that you could simply postpone to a later time to try and improve. this is a fundamental flaw in the very basics of the idea which needs to be address first before you even take the first step.

ahmedktata

newbie

Activity: 12

Merit: 0

this idea came to me after reading this article : https://bitcointalksearch.org/topic/random-token-exchange-an-idea-5246233.
What about making a smart contract that receives a trash token and sends a token that is made with the platform.You might say its just another trash token Cheesy

but its just an idea that can be developed over time . what do you think ?
ps : Trash tokens are on hold by the smart contract and can never be released

Topic: Tokens Trash Can. Recycling (Read 175 times)