What to do with ERC20 tokens when ICO gone REKT?

alan2here

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WorkAsPro

Quote from: suryana on September 19, 2019, 10:11:39 AM

Quote from: airdropan on September 17, 2019, 10:04:55 PM

If you quite patient then just hold it and forget about your token, may in future the price will back to ICO or better, Or maybe the best way you can support them , the team and developer to keep doing the project. When the project work and success the prices will up for sure.

I am among those who patiently hold ICO tokens from 2017 until now, I have confidence that someday the price of ERC20 tokens will give us an advantage again. But if the token is dead then for better we leave it and just throw it out of our wallet.

The old ICO projects are mostly dead and very few projects can exist at this time because of reduced investment demand. I followed over 100 different ICO projects in 2017 and there are 97 projects that are forgotten in this market. I think don't expect too much because maybe that investment will only cost you more money in this market and we should have a new investment plan before that token drops further.

poornamelessme

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Quote from: fudster on September 19, 2019, 10:27:31 AM

I find myself in the funny situation just when I tried to see if I send spome of my ERC tokens to an exchange 12k of ERCtoken I am about to send but I calculated this will just be worth 0.0021BTC. If transaction fee is deducted which is 0.001, I'm left with 0.0011 Cheesy

What am I going to do with that amount? These tokens ain't listed in Binance where I can pay BNB for the transaction.

That's a situation where you need convert the btc to something else. I've had similar situations when playing with small amounts on exchanges. Doge is always good for that ... convert the .0021 BTC to Doge, withdraw Doge (which is typically only a 2-10 Doge fee).

Or if you want something you can convert to fiat, ETC can work (coinbase can do ETC to fiat, I think). Not this is enough in fiat to really bother with. My point being, just convert it to some other coin that doesn't eat it all up with withdrawal fees.

fudster

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Quote from: poornamelessme on September 16, 2019, 12:13:34 AM

Quote from: phillymogul on September 15, 2019, 04:45:58 AM

So now we hold thousands of erc20 tokens from REKT ICO. Bounties, buys, failed ICO and so on.
What can be done with them?

Hold them and hope for a miracle, sell them (even if for hardly anything), or if an ICO someone paid into, just sell for a loss or burn, and use it as a tax loss.

I find myself in the funny situation just when I tried to see if I send spome of my ERC tokens to an exchange 12k of ERCtoken I am about to send but I calculated this will just be worth 0.0021BTC. If transaction fee is deducted which is 0.001, I'm left with 0.0011 Cheesy

What am I going to do with that amount? These tokens ain't listed in Binance where I can pay BNB for the transaction.

gunhell16

hero member

Activity: 1904

Merit: 541

Just send it to 0x00000000..........................0000 address and let it burn.
You can also let them stay on your wallet, but I've been in this situation and what i did is i just changed/created new wallet.
Hate to see them hanging on my personal wallet if they are worthless.

Insomnia family

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Activity: 868

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Yes, I consider it to be a wallet decoration, but I don't mind holding it. and I don't think anyone would expect more from useless junk tokens. better focus on other options by increasing investment in the highest altcoin on the market.

Stanlo

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Quote from: dcomomal on September 17, 2019, 04:57:15 AM

They can be exchanges on decentralised exchanges, maybe people still collecting those for their reasons. But generally speaking, just forget about them, because if ICO gone scam, there is no more value in those tokens.

Hm, i wonder why people will still be collecting dead tokens unless they heard news somewhere that such token can still come back to live, to me when a project is dead it should be left for dead, i haven't seen a project that come back to live and did fine even when new dev took over

suryana

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Trphy.io

Quote from: airdropan on September 17, 2019, 10:04:55 PM

If you quite patient then just hold it and forget about your token, may in future the price will back to ICO or better, Or maybe the best way you can support them , the team and developer to keep doing the project. When the project work and success the prices will up for sure.

I am among those who patiently hold ICO tokens from 2017 until now, I have confidence that someday the price of ERC20 tokens will give us an advantage again. But if the token is dead then for better we leave it and just throw it out of our wallet.

RealMalatesta

legendary

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Quote from: ?? on ??

Usually i just leave that tokens in my wallet address, because you will need some gas to get rid from your address.
If the token have some value, just sell it on exchange or dex. but anyway, it won't be a problem for me if there are some useless tokens in my wallet

Actually it is a problem to me because it makes me get angry, especially when I see those tokens that gave me so much money in the last altcoin bull run, but my greed failed me and made me not to remove them until I watched them dump and there was nothing I could do about them, if I had removed the money then and invested it in bitcoin, I know how much I would have been worth by now when converted to fiat, so I am angry with myself, angry with the stupid bears, the manipulators and the coin itself.

What I just do since I cannot stand them is to leave them in the wallet, but transfer the good ones to another wallet, so I don’t open the shitcoins wallet often except once in a while when I feel like checking if luck had shine on me.

Mianae

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Activity: 798

Merit: 14

If such tokens are listed on any exchange, hold onto them it will be worth something someday as some group of whales can make the price go up really hard. When there's a problem is when such tokens are not listed anywhere on any exchange that's always the worst case scenario.

Inu.Guren

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homt.net

Quote from: Crypt0BHunter on September 15, 2019, 04:50:40 AM

Just patiently wait and hodl it with hope in next bull run sicle maybe some projects will alive and find some investors and mass adoption

patiently is not enough because many of us need money, and this condition make people frustation, market is crashed after bitcoin going down deeply in 2018, and many useless token are going to trash, because nothing anyone interest to trade in the token, ad the developer don't want buyback again from market

jostorres

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Activity: 2576

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Nothing can be done with them, you just keep holding it and see maybe the story will change like that of bitcoin when they did their ico, how they came with low price and people never wanted it, but who will know that after some year, bitcoin will be the giant of altcoin after years of its establishment.

We have to because of bitcoin story also give some projects that benefit of doubt that they will rise in future, so all they need from us is just our patience, we should be patience with them, became even now that they are not growing, there is nothing we can do to force them grow. Let us also hope that the bull run for altcoins will make a change in the life of the altcoins, though we have some alts with a very bad product that will never rise, that I learnt there is a company that buys them, I read it on this forum but cannot remember how they operate again.

senin

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Activity: 938

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Now a bad period has come for altcoins. This does not mean that they need to be disposed of, that they are dead, even if they do not show themselves and are not traded on the exchange. The project can still work and develop, although its token is not put up for auction due to a general drop in market prices. No need to rush to get rid of them. They will need to decide their fate in your wallets when the market begins to recover and grow. Now, let them lie in their wallets for now.

altscaner

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a lot it's just that if we get a project with a fictitious team we can't do anything, if we get a project scam whose team is not fictitious, I think we can report to sec because this has happened before in some bounties 2017/2018 and they really are get proper punishment it's just that I don't know how to report them, one example that I mean is this bounty https://tbis.io/

airdropan

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♦♦♦♦♦

If you quite patient then just hold it and forget about your token, may in future the price will back to ICO or better, Or maybe the best way you can support them , the team and developer to keep doing the project. When the project work and success the prices will up for sure.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

I guess there is really nothing to do with them, if you want you can trash them by sending it to some fake address or just make a giveaway (dunno if anyone would want a worthless coin in a giveaway) or just ask if anyone wants and send them the coins. Now if you do not want to get rid of them but they are worthless then all you can do is wait and hope that they will worth something one day, otherwise they are literally just worthless coins not covering any space in your life.

I have bunch of them, I own 100k of a coin that suppose to worth 50 thousand dollars but right now it doesn't even worth 100 dollars I just keep it just in case somehow it gets bigger again. Not like it actually physically takes up space in your wallet or something, it is digital numbers so just let them be.

dcomomal

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They can be exchanges on decentralised exchanges, maybe people still collecting those for their reasons. But generally speaking, just forget about them, because if ICO gone scam, there is no more value in those tokens.

Little_king

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Activity: 224

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Most project got rekt since 2017 ending and every token that was launch after that time too has surfer same way, but hope still their for some token to bounce back while many are just waste, the ETH team are not helping this industry by making sure every token launch on their blockchain are very well and good to go which has really mess up this industry and why I see binance leading in almost every thing now has he make sure thing are done in proper way to prevent scam project , so we have no choice than to hold and see what the future has for us.

aioc

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Quote from: Crypt0BHunter on September 15, 2019, 04:50:40 AM

Just patiently wait and hodl it with hope in next bull run sicle maybe some projects will alive and find some investors and mass adoption

I don't think it's going to happen, some of the projects are already buried in the haystack of shitcoins, if we are talking about adoption it should be coins that are already in the market and doing fine, not coins who are long dead, let the dead remain dead do not hope or give false hope to holders.

imstillthebest

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gone ? haha ico will going to laugh at you because thats not possible to happen . no matter how bad the image of ico due to scams and failed projects there are still ico that exist at the moment of this writing and so as on the future , that is for sure but as long as cryptos still exist . but let say ico are no more but you still have their coins , i think you can still trade them on exchanges as long as they are listed and have a value . its normal that the the ico of one's project will end once they collect enough funds and they will use that fund to process thier projects plan according to thier map .

Google+

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when the ERC20 circulation conditions fall apart then this can be said to be a nightmare that comes true so that makes a lot of traders and investors ERC20 panic even ERC20 market conditions will also be destroyed because many will sell their tokens at low prices.

Topic: What to do with ERC20 tokens when ICO gone REKT? (Read 577 times)