Will you buy a token if its price never went up and you could never sell it? - page 2.

Frengki_cisco

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Quote from: pooya87 on September 17, 2022, 01:57:18 AM

Let's assume that I create a new token and this token has two main characteristics:
1. The purchase price is always fixed
2. You can never sell it to anyone else after you bought that token (so it can't act as a stablecoin)

You can come back and buy more of it since I can create as much as I want anytime I want but you can never sell those tokens to anybody else so you'll have to own them forever.

Will you buy this token?

Feel free to explain and tell me if the price would be a factor (eg. if the token was sold for $20 or $2000).

I will not buy tokens as you mentioned, our goal is to trade and invest to get profits in buying and selling, if tokens cannot be sold, of course it is not a good idea to consider.

Tokens are always changing all the time there people can get what they want, if the tokens don't move it's not beautiful to play with.

Joseph Knight

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Sure. Of course.

I do assume that these tokens would be like permastaked , and you'd get some other tokens that you could get value out of.
Or maybe if the token gained access to something else one would deem valuable??

So the answer is yes, as I helped make of your question that had an answer no if your goal was to make a profit.

cryptoaddictchie

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The fact that I couldnt sell it to anyone or market is a pretty red flag means there is something wrong with the codes. Also the owner who can create or mint any amount of tokens is not good. Knowing these two alone would definitely a bad publicity already for the project assuming its a decentralized one.

But when the token is hyped on some market surely people will jump into it regardless whether it has utility or not. Ive seen how many degens are like this. But its a big NO NO for someone who are doing a research and not concern about easy money.

Getmon

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I don't get it. Why are we going to buy a stable coin with unlimited supply that is non-sellable? You are not referring to fiat right? Fiat can increase and decrease its value and it can be exchanged for either materials, services and other fiats.

What is mentioned in op would be the worst coin ever if it exists. But maybe the coin has its features. Just like VIP memberships on some stores that give big discounts.

GreatArkansas

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Quote from: pooya87 on September 17, 2022, 01:57:18 AM

Let's assume that I create a new token and this token has two main characteristics:
(.....)
Will you buy this token?

Depends on other characteristics of the coin as you only mentioned two.
If there's any way I can make profits or give back my capital, I'll buy it. Or even if it's at a cheap price, I'll buy it too.
But the thing it cannot be sold seems a very big lose just incase especially if this is expensive, which majority of people won't buy it.

pooya87

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Quote from: nutildah on September 18, 2022, 11:39:24 PM

people will buy them.

So far the community is disagreeing with your opinion.
Besides, we are not looking for silly people who have money to waste and buy anything you throw at them. They are the minority handful.

nutildah

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You're describing Soulbound Tokens. Sounds like they're about to be the next big thing, and people will buy them.

https://cointelegraph.com/news/soulbound-tokens-play-a-big-part-in-this-new-metaverse-which-plans-to-give-users-citizenship

Quote

SBTs are a new approach to cryptoassets that has been championed by Vitalik Buterin, the co-founder of Ethereum. He was inspired by a feature found in World of Warcraft — and those with long memories will remember that this game was a crucial reason why he wanted to establish this blockchain in the first place.

Soulbound items cannot be transferred or sold to others — and Buterin's argument right now is this: This functionality currently can't be achieved through the ERC-721 standard. In a blog post published in January, he wrote: "If someone shows you that they have an NFT that is obtainable by doing X, you can't tell whether they did X themselves or whether they just paid someone else to do X."

Mpamaegbu

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Hell no! Why would I do an irrational thing like that. Honestly, I don't think anyone would do that. Except they don't realize it can't be sold after they've bought it. If the likely scenario were that it could be sold at the same price of purchase it would've made sense like in stablecoins. Since it can't be sold, it will be worse than hodling a shitcoin even if they're NFTs. I won't be buying any token for the pleasure of just hodling it.

GeorgeJohn

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Buying such token, it will take you a two dimensions to decide of buying such a token, because for you to buy such token what should come to your mind is to leave the token for numbers of year incase the value can be tradable in future time. And it's obvious that not everyone that will like to buy such token, because the profit or the benefit is not really assured within the time it's launched. So i will buy and hold until it becomes relevant

yhiaali3

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I don't understand why I would buy a token if I can't sell it, even if the price of the token rose hundreds of times and I couldn't sell it to someone else then it is useless, if the token is like NFT for example where I can get unique features and powers of a special kind then I can buy Even if I can't sell the token because I will get some important benefits as a result of holding the token.

dansus021

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is it obvious what the point of token if you can sold it, instead you can give yourself rich because people buy the coin from you Sad

Silberman

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Quote from: pooya87 on September 17, 2022, 01:57:18 AM

Let's assume that I create a new token and this token has two main characteristics:
1. The purchase price is always fixed
2. You can never sell it to anyone else after you bought that token (so it can't act as a stablecoin)

You can come back and buy more of it since I can create as much as I want anytime I want but you can never sell those tokens to anybody else so you'll have to own them forever.

Will you buy this token?

Feel free to explain and tell me if the price would be a factor (eg. if the token was sold for $20 or $2000).

I wont buy a token like that, by the description we’re talking about a token which behaves as some sort of collectible, but even those which buy collectibles do so with the idea of eventually resell them, only those which are true fans of their favorite sport team or rock band will think about buying something and then never sell it, however despite the results of the poll the reality in the ground is that NFTs are indeed quite popular, and even if people buy them with the intention of reselling them they find themselves unwillingly participating on the scenario you're presenting.

uneng

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Are you describing fiat before bitcoin was created? Cheesy

Because those were 2 characteristics of fiat for me back then, since I didn't have access to another currencies, so my local fiat currency was the only option I could use, therefore it was impossible to sell it. Moreover, without access to other currencies the price of my native currency was always fixed.

I don't miss those times and for that reason I wouldn't adopt this kind of token. It's too restrictive and goes against the wide freedom we are looking for when dealing with cryptocurrency.

coin-investor

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Quote from: pooya87 on September 17, 2022, 01:57:18 AM

Let's assume that I create a new token and this token has two main characteristics:
1. The purchase price is always fixed

There are two kinds of buyers in the market, the first ones are those who expect profit and the other ones are those who'll want to use that coin for specific purposes if the token doesn't have the latter there's no use in buying it.

Quote

2. You can never sell it to anyone else after you bought that token (so it can't act as a stablecoin)

If it has no usage or purpose, what's the use of buying it

Quote

You can come back and buy more of it since I can create as much as I want anytime I want but you can never sell those tokens to anybody else so you'll have to own them forever.

Will you buy this token?

Feel free to explain and tell me if the price would be a factor (eg. if the token was sold for $20 or $2000).

That's a big no if there is no usage and there's no profit to be made it's a shitcoin, you did not tell us the other features or characteristics of the token that you are about to be created except that you can't sell it, if there's usage or you mentioned it people will say no, but since you only mentioned you cannot sell it and you have to own it no way I will buy such coin.

sheenshane

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A potential token that has a utility maybe.
IMO, that depends on the token and its potential, it might be 10% of your capital would be an ideal amount to invest and take a risk, tokens are very speculative and risky to invest.

If that token is backed by the community and has utility, it would be worth it, but if that's because it's a hype token and went down, that's useless.

Oceat

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I wouldn't waste my time or money if the latter I couldn't sell it. It's clearly no use to me the way you explained it – it will just be another trash in my wallet that's queuing along with the others that are useless too since there are no market value or exchange that would offer to trade it.

If it's just for collectible I still wouldn't buy it since it's no use and no value/I can't sell it to anyone.

maydna

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I will not buy the token because the price is always fixed, and I can not sell it to anyone else. I will accept it if the price is always fixed, but I can sell it and buy other tokens or coins like stablecoins. I don't want to have tokens or coins that don't have any function because that would be a waste of my money. I prefer to choose coins or other tokens that are more profitable. Price will be a factor in buying and selling tokens or coins, so if we can do that, we can still make a profit. I don't think investors will want to buy it because it won't give them anything.

bitcoin-shark

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yes i would buy tokens that I cannot resell to collect them such as tokens or nft of my favorite soccer team

BIT-BENDER

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Can I be able to make use of it, like would this token have Utilities, mass acceptances and also how secured would it be, I really don't mind if you created a token and it's price is fixed and there is no room to sell it of, there are already many coins that one can always sell off.

I would be interested in your token if you have good marketing and the publicity of this token leads to great acceptance. It's price fixed mean I can be at a loss with it. Already many speculations has been made on how secured some of this stable coin are, so if you can ensure security as well I believe many would be interested in your proposed token.

DoublerHunter

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Quote from: pooya87 on September 17, 2022, 01:57:18 AM

~snip~
Will you buy this token?

^As the majority choice and I expected the answer would be no.
I will not waste my time investing in nonsense tokens that don't have value, because most likely happen, they will become a shit token even though how good the project it is. Possibly, it will dump the price in the market after there is a massive selling. It is very risky for me if we will invest in the kind of characteristic in the token, it seems we are just burning our money in that way which is not really good.
I rather invest in BTC than the useless token.

Topic: Will you buy a token if its price never went up and you could never sell it? - page 2. (Read 372 times)