Topic: Trendy: On board and get rich quick scheme (Read 225 times)

Have we all noticed that the tap-tap-tap has reduced over the couple of months?

I no longer have people talk about it, rarely encounter people online and offline having to continue in the activity or even catch up with them on the news. This has come to be due to the many failed promises that have been associated with the various projects that took this format to publicity.

Having to set dates for airdrops that never dropped,
Listing dates that kept being postponed,
Increased of activities and games within games to be downloaded and played,
The much channels that are been built in the process.

What the success of one was able to campaign for, it’s been ridiculed by the zeal to extort by others.
The unfortunate part is, it’s all going to come under some generalization as cryptos.

Cryptocurrency projects can have source of tokens by their tokenomics for airdrop distribution to community but they mint tokens from the air and it does not cost them anything to distribute tokens in airdrop to community.

You miss this important point. Like 1M token costs them $500,000 or the like but in reality, the project team don't lose anything. They get more by airdrop distribution like free marketing and attract many investors to their projects. At the end if they do rug pull, investors lose money but project team don't lose money.

They can do pump and dump scheme and if you join nearly at the end of their manipulated pump, you will stuck in unavoidable dump later and lose very big part of your capital.

Pi Network is a pure scam project, without a blockchain but claims to have it, year by year and now nothing happens with their blockchain main net.

It is high time we believed this truth. Some of the projects that listed good price and gave rewards didn't stress much their participants. I actually do not know if they really stressed them, I am just assuming.
I remember years ago I was introduced to pi network and I was mining until I became tired of the process and abandoned it. I thought I will be regretting now because they said it is bigger than bitcoin.

Those tap bots or tap to earn are not the right way to make quick money because those are just another method the owners used to gain engagements on their telegram channels, Twitter (X), Facebook, Instagrams pages. Today I just heard that AVAcoin was listed but the internet is quiet, nothing is happening and I find it hard to see someone talked about how much they made from those tap earn projects they waste their time on. The truth is, any project that will pay will not stress the users, and from history, non of this projects are like Bitcoin, make your research and come back.

I wouldn’t blame the man, nor would I say I feel sorry for him but, I definitely feel sorry for the wife though. She’s not been given the chance to follow her gut feeling as it should be. Isn’t that what investment is about? I wonder what the situation would be should the telegram game to have come between them not pay off in the end. This is the part we’re you would find them name calling of every cryptocurrency out there and related activity to be a scam.

It’s clearly a zombifying move, given governments reason to hate on the crypto idea. I really hope the best to come out from this spake, for it to be a move why people should rediscover Bitcoin and learn a little about it.
The developers as they now know this trick, are taking quite a good advantage of it.

I have heard about those activities in the internet about telegram games and YouTube games but I never want to show interest on the games, because there are some negative and positive that involved in those games, but the positive aspects are very few which is what is making me not to have interest on them. I agree with you that there are different between coin and token in the community, coins are mine from a Blockchain technolog, example of coins, Bitcoin, Ethereum while token are generalized and supply example PEPE, MNT etc, but both are decentralized, which is the reason coins and tokens are not too common to achieve easily like the way people use to achieve centralized easily. Mining of Bitcoin is not by tapping your phone device screen and start mining Bitcoin, because you need to have the idea of mining pool and tools that will make you smart in mining to earn Bitcoin.

I don't know these cases but years ago when online gaming industry boomed, there are reports that some gaming addictive people died after playing continuously 24, 48 or 72 hours and they died in front of computer screens and games.

If the same happens with people who are addictive with tapping to get rich quick scheme, I am not surprised. It's responsibility of parents to work and feed children, not to force their children to tap, work on behalf of parents with hope to get rich, and improve their family finance.

Any parents do this, they are irresponsible with their children and should not have children at all. Live alone with their partner, enjoy sex but don't have kids.

I didn't realise the cases you mentioned, and although they are just exceptions (I hope) it seems that some of the fears I mentioned in my previous post are for real unfortunately.

It is definitely a get rich quick scheme... for the owners of the game, at the cost of zombifying our teenagers (and not so young, look at the comment on the wife of the degen above) as you said. These tactics make me think about keeping my children low-tech until they are old enough to develop critical thinking.

If you can agree that bitcoin mining is different from that of ethereum but yet they all stand on the same constituent of cryptocurrencies, same we cannot rule out all the tapping mining as a wasted efforts because not all will eventually turned a scam attempt, some will be profitable and turn a successful one while some may not be, my advice is that we should not look down on anything, because the ones we may think were nothing may turned out to be one of the best in the future, after bitcoin, then go for other coins or tokens in as much as they are not too demanding from you.

This telegram get-rich-quick games are getting out of hand. A relative had issues with his wife and I had to intervene. When I asked the husband what was the problem, he complained that his wife was not tapping enough because he sees this tapping stuff as a lucrative business. His anger was that she was not taking this business seriously and he didn't like it. He decided to seize his wife's phone so that he could use both phones to do the tapping business. When I asked the wife why she is not tapping she told me blatantly that she is not interested in this shit. She complained about how her husband had made them lose money severally because of his drive to invest in projects that promised high returns. Some people are driven to engage in this activity by greed and ignorance.

The so called passive income feature is a strategy to get gamers to increase their “taps” and the time they spend in the game. I find it disturbing how young people are hooked on these games. It’s even more disturbing when you see that they are all playing for profit and not for fun. The Hamster game is not entertaining at all and no one can claim they are constantly tapping on their phone screens for fun.

I have just known today about another game in Telegram thanks to a post in the Spanish local board made by famososMuertos, called Hamster Kombat, and I have the same opinion as you about it, even if in the case I mention it is not only tap-to-earn but they add a so-called "passive income" feature, which in fact makes it more addictive and leads you to lose more time in the game.

You said that they are milking the players, and I'm a little bit afraid for so many teenagers in the world who can end up developing an addiction due to this new trend.

I recall having to see a pop up news on my device few days back of a Russian lawmaker Anatoly Aksakov, leader of Duma banking committee having to propose the ban of these games following some scam accusations. I really hoped some of those highlights in your comments be put in the proposal as these have seen to the demand and inflation of certain massage products.

It greatly undermines the need for any productiveness in youths as, everyone wants to by some luck, tap on their screen and get rich. No need to doing any actually gainful work that would add greatly to the economy.
So far, just how many have been able to list on major exchanges, I can tell of two but, wouldn’t be promoting none here. Yet, we have more of them being developed by the day, building channels for not just the project but, the entire team on promises that might as well be false.

Nobody never wants to get rich quick, what we all do that makes us to achieving this is what determines whether we are getting rich or not, while everyone have his own time for his own opportunity to come, there is nothing to lose when we give a try on whatever thing we do, we may have no idea on whether it may turn a profitable one or not, its more better to try out and fail and never do anything and it all went well and we missed.

Of course, the developers and those behind these games, who are always anonymous, are the primary beneficiaries, as they earn money from YouTube AdSense and, after building large communities for the game project, can profit through affiliate marketing for any project for a fee. I previously found one of the Telegram games that offers clothing with the game’s logo and forces players to buy it in exchange for in-game coins that they will obtain, as well as the fees that are spent on some of these games to buy one of the items due to the possibility of increasing the number of airdrop coins.

Yes, the possibility of players having their wallets drained and stolen is quite high, as there are no indications of the developers' intentions in the end. In the least worst cases scenario, players will earn a few dollars after months of effort, similar to websites that pay for watching ads, downloading apps, and completing time-wasting surveys. It is worth mentioning that the term "mining" they promote is not real mining; they exploit the term to attract cryptocurrency investors who do not have the capital to buy equipment to engage in actual mining.

And after doing this they go on to boast of a strong community, thereby luring more people to buy the coin or token which is always a false narrative. This is why I keep telling people not to be fooled by the community and popularity of most altcoins, they're not organic. Most of the people there are paid to be there, people advertising themselves coins are paid to do so, directly or indirectly.
Another thing that fools people is the market cap. The fact that a coin has a large market cap doesn't make it a good coin. When billions of these coins have been released in circulation, multiplying that by a price of $0.005 still gives you a market cap worth billions. Some coins have trillions in circulation. How exactly is a coin like that going to even worth anything? How is the demand ever going to be equal to the supply?

You will get as much money as the others are actually spending on those tokens and games.
But if everyone is earning from a game then it means nobody is a net spender, so a bit of basic economics of offer and demand and with the well know history of previous games from CryptoKitties to Axie you can see where this is going!

The FOMO is to be the first, those are the guys that will actually make money, the ones that end up paying for everything and trying to rise their levels to make pennies are going to waste their time and their money!

This is just crazy to me. And the worst thing is that children are involved in this activity. There is a case in Russia where a child died while in the bathroom with a phone, tapping regularly; he did not even leave his phone there. There are several cases where children end up in a psychiatric hospital because they cannot sleep normally, setting an alarm clock and waking up every three hours to complete a task. In a neighboring country, the state introduced punishment for this game since young people go crazy, losing their health at such games. Whatever these games are called, my opinion is that people seem to be especially zombified, destroying their love of reading books, which means their lack of thinking, analyzing, and making logical decisions. Someone’s goal is to turn the new generation into a herd of sheep with mobile phones.

Even if you'll tell those folks that are focused on it several times that their tapping on their phones, they'll not change how they look at it. They'd tell their friends that they're mining through those apps and games but, if you ask them how much they've already earned. I'm not sure how many of them will gladly say the amount because only a few of those have become successful. For example, notcoin, next to it - there have been some hyped projects that until now don't even release their tokens and yet, people are crazily mining playing and tapping them.

If people will scam you, it does not have to be only on a token, airdrop or any altcoin project, even when you invest on some coins, they can turn a scam despite that you have made some level or research on them, if people were tapping and this becomes the trending means to earn online, then don't discourage others from doing it because they are taking their time to try out their luck and chances to see whether things could work out or not, some have been paying while some have not just as we have with some crypto coins as well, it only take the minds of those who could take risk for both chances.

In my opinion, playing these games is just a waste of one’s time. Chances are you will get nothing at the end. This is just common sense but tap-to-earn have benefited greatly from FOMO mentality which is driven by the fact that one (NotCoin) of these hundreds of tap-to-earn tokens was listed and gamers made money form it.

Notcoin’s explosive growth drives crypto adoption on Telegram
Blockchain

These P2E games are milking the players. They make you do tasks like follow their YouTube channel, Twitter, and other social media platforms. And whenever they lost a new video, you’re supposed to watch and like the video. That’s how they get a huge following on various social media platforms. So even if they fail to list their tokens, they are already making money from ads on YouTube and their other socials.

Introduction
Over the course of how Bitcoin and a couple of cryptocurrencies has transcended from being valued at mare cents to its dollar value and even serving for a more preferred asset by the population that are knowledgeable of Bitcoin, to the point that, the value for getting a single unit of it (1BTC) seems overly above the radial for some forks with the exception of having to buy in bits.

Given this reality, people are always on the lookout with altcoins of possible potential and just now, a phone screen tapping activity have enveloped our society to a point that, you actually can’t go a day in the park, around the streets or even on the media without seeing individuals trying to pry a portfolio out of what is being offered. At most, it’s operated on telegram and called the telegram games.
I’m talking about, the memecoins from telegram games.

This activity has come with certain confusion that pushed me to doing some research and knowing to clear my confusion and certain confusions and I’ll relate here my findings. A couple of sources was used in course of this finding but, two resource did stand out and that’ll be; SimpleLearn.com/YouTubechannel and Ledger.com

Some of the confusions which I sort to have an understanding is:
* People having to see tapping on their phone screens to earn tokens as mining
* Not having a clear understanding of the differences between Coins/Token
* What are the purposes of certain forms of project
* What similarities do exists between these Coins/Tokenomics projects

Let’s get down to it:

* Mining to simply put, it’s the process by which new Bitcoins is released in which, miners gets to solve complex maths and puzzles using specific devices (transitioned through generations) to serve this purpose and adds security to the network.
While, Tapping on your phone screen is simply you having to participate in a game as a form of loyalty program, along with certain social media challenges and get rewards.

* Coins are actually mined and have its own blockchain which remains native to that Blockchain E.g Bitcoin and the Bitcoin blockchain while,
Tokens are generalized and distributed by its developer. Tokens are actually developed on the blockchain of other coin projects. E.g Sandbox on Ethereum Blockchain.

* Coins are created to be used as a regular currency, just in the same way we use our fiat and for a store of value while,
Tokens are simply an access to certain offers on a project. They are like the casino chips where, they represent units of certain values and can be used within the casino to participate in certain activities.

Similarity:
The major similarity that exists between these terms are the fact that; they are both cryptocurrencies that exists in a digital space and on a blockchain.

Key differences to note between Coins and Tokens:
I. A coin has a unique blockchain while, a Token is built on the blockchain of a coin
I. Coins are mined while, Tokens are generalized and distributed
III. Gas fee for coins are payed in its native token (e.g you pay BTC as fee on Bitcoin blockchain) while, you pay coins as gas fee for a token (e.g to transact Sandbox, you pay ETH as gas fee on Ethereum blockchain).

Purpose of creation:
While Coins are created for exchange and store of value;

Tokens basically serve as game currencies in the web3 and represent popular cultures.

Possible effects from the tap tap activities:
1. There is a degree of responsiveness to every device and having to tap it multiple times subjects the device to more work, generates heat and can end up reducing the device’s performance and reliability.
2. You are often subjected to media activities on your media fields which reflects on your person and could either add value to your media field or take from it based on the outcome of projects you put out.
3. You end up building channels for developers in the name of tasks, they earn from your activities of views, likes, comments, subscriptions to channels and you don’t often get anything in return other than some worthless tokens.
4. More often, you would be required to link your wallet which could result in phishing and a malware compromise of your device.

Effective prevention measure:
> Avoid such free to earn token participation
> If you must participate, don’t do it on the same device you have your crypto wallet

In summary:
Tapping on your device screen isn’t mining and coins are much different from tokens.