Would you invest if it would also help those in need? - page 2.

CryptoScarface

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Quote from: isaac_clarke22 on April 28, 2021, 07:16:36 AM

I mean it is great since we can help through donations just by buying the mentioned token.
Only thing I am kind of worried about in these projects is its value depreciating because of people dumping it, unless you have the means to stabilize the value of the mentioned token.

Good point, we will have a strong roadmap as well as raising funding to be listed on various CEX.
We expect to see a high volume of transactions therefore the first donations will be done in the first month with the goal to also obtain press with it.

CryptoScarface

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Quote from: Luffygroove on April 28, 2021, 07:33:27 AM

I think I've met the idea of a charity project in cryptocurrencies before. There are always people out there who will be interested in this kind of project and it means there is always an opportunity for those projects to succeed. However, because it's also aiming for humanity, I think you need to really prepared with transparency like audit, etc cause people's eyes would be more focused on your moves. Don't be anonymous cause the project needs to be faithful for people to invest. I'm grateful for this kind of noble project.

That is lovely feedback, very encouraging - Thank you.

Yes, we agree that it should be 100% transparent, that's the only way to make it work.

Luffygroove

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I think I've met the idea of a charity project in cryptocurrencies before. There are always people out there who will be interested in this kind of project and it means there is always an opportunity for those projects to succeed. However, because it's also aiming for humanity, I think you need to really prepared with transparency like audit, etc cause people's eyes would be more focused on your moves. Don't be anonymous cause the project needs to be faithful for people to invest. I'm grateful for this kind of noble project.

isaac_clarke22

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I mean it is great since we can help through donations just by buying the mentioned token.
Only thing I am kind of worried about in these projects is its value depreciating because of people dumping it, unless you have the means to stabilize the value of the mentioned token.

iTradeChips

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It is an interesting concept you have there. The fees will be the source of charity. That is really a noble concept and that you were able to work it out on getting charity using the transaction fee. My question would be this, who is responsible in getting the value of the coins intended for charity. Is it an automatic process that leads to the charity being delivered to another address automatically or this one address where the transaction goes to is managed by a human who is responsible of ensuring that the money will be received by the charitable institutions?

CryptoScarface

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Quote from: bayudndy on April 28, 2021, 05:45:59 AM

I don't know if the OP is serious about this, but I just wanted to share that no matter how great the end goal is, the idea of achieving it is so bad it won't be of any help. OP should get serious and rethink this.

How do you explain the success of SAFEMOON ?

bayudndy

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I don't know if the OP is serious about this, but I just wanted to share that no matter how great the end goal is, the idea of achieving it is so bad it won't be of any help. OP should get serious and rethink this.

CryptoScarface

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Thanks everyone for the feedbacks

Many comments mentioning that the token should have also other goals.

This is a SHITCOIN. It’s a better alternative to SAFEMOON that charges the exact same fee but without any charitable options.

Thank you.

samcrypto

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If its a good investment then why not beside, you’re not just investing here you can also help many people through your money while earning some.

You just need to make this form of investment a more legit so you can get the trust of the public since we all know there are so many ponzi scheme project out in the market and investors are afraid on investment like this. You also need to introduce the services that you offer in the public, it should not only be about the charity you should have a good purpose.

BuNga_cute

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Quote from: CryptoScarface on April 26, 2021, 08:46:12 PM

Hi guys,

It would be great to have a feedback on a project we’re working on and it’s pretty much ready to be announced.

Would you invest in a token knowing that not only can make you make money but it has a feature that allows you and the community to help those in need.

HOW IT WORKS?

10% fee on each transaction.

- 5% redistributed to the holders
- 5% goes to a CHARITY wallet

The charity wallet will be used EXCLUSIVELY for donations to Onlus, foundations and people in need.

We want to really help India that is having a hard time with Covid, provide funds to support cancer research, and many other projects. The community will also be able to vote on which projects we will send the funds.
We can make the difference!

Please let us know your honest feedback,

Thank you

I am happy with one of your goals and your team in creating projects to be able to provide charity to the country of India which is experiencing
difficult times due to COVID-19. And also provide funds to support cancer research, but because the goal is good, the method must also be good.
Not by charging a 10% fee on each transaction, this is very burdensome to investors who are interested in your projects. Try doing research
and surveys first regarding transaction fees, after that you can lower it again according to a reasonable transaction fee to apply.

CryptoScarface

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Thank you all,

There are definitely a lot of feedbacks mentioning the 10% fee is high.

It's important to remember also that 5% (50% of the fee) gets redistributed to holders, so the more you hold, the more tokens you accumulate (similar to SAFEMOON)

And when you decide to transact, the other 5% (remaining 50% of the fee) goes to a wallet that will help those in need funding real, concrete projects.

PS: We don't want to just randomly donate to some kind of onlus, we want to see the final result of those donations.

When it comes to the "utility" of the token, we can consider this as a "shitcoin" as most people would say - but honestly the purpose of this project is way more important than most other established coins.

maxreish

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The objective of your project seems sincere but you can't simply encourage people to invest into your project to help others. I mean, there are a lot of ways sending those who are in need even without putting up any project. It will just resulting to raised fund but the doubt of the people will not be prevented especially on this one.

Also, 10% transaction fees are quite high. But if it is for a great cause then maybe we can reconsider it.

Ucy

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In my opinion, such token would need to be safe enough, have other useful features and purposes (aside for helping the need), to keep it sustainable... otherwise I'd instead use the established cryptocurrencies/tokens like Bitcoin to help those in need in secure/fraud-proof manner. .

Psynthax

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10% fee is simply too high this thing alone already such a turn off for most of people but what I wonder is whether the 5% that goes to charity gonna adds to the dumping of this kind of coin or not since I assume once the coin received by the charity and when they need to convert it to cash they'd surely gonna dump it first whether to ETH or BTC since these two are mostly paired against altcoin and it could add the weight to this coin so the coin could hardly pump, after all an investor always seek profit so if there's any coin that are meant for charity to gain success it needs to take into account how to make the coin sustainable and attract demand while also able to contribute to the charity.

btcltcdigger

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Quote from: CryptoScarface on April 26, 2021, 08:46:12 PM

Hi guys,

It would be great to have a feedback on a project we’re working on and it’s pretty much ready to be announced.

Would you invest in a token knowing that not only can make you make money but it has a feature that allows you and the community to help those in need.

HOW IT WORKS?

10% fee on each transaction.

- 5% redistributed to the holders
- 5% goes to a CHARITY wallet

The charity wallet will be used EXCLUSIVELY for donations to Onlus, foundations and people in need.

We want to really help India that is having a hard time with Covid, provide funds to support cancer research, and many other projects. The community will also be able to vote on which projects we will send the funds.
We can make the difference!

Please let us know your honest feedback,

Thank you

And how would this token make me money in the future? Besides this 5% charity donation, what would it be the usecase for this coin?

raes

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a very extraordinary project.
but how do you convince everyone to join your community and support your project?
is it only based on the conscience? I guess it will get a bad response from everyone.
We've seen a lot of scammers on crypto forums. there are many ways that scammers do. we have started taking care of every transaction.
I am not accusing your project of a scam. but I wonder how do you convince everyone to follow you?

cabron

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It's going to be amazing how a project could plan that it would help those in need while investors are also profiting from the project. If these two are achieved, it may really be that interesting as it would improve everyone's lives.

You are going to find it hard to convince anyone with that introduction to your proposal though, it needs detailed information before you can make people join the noble cause.

seramania

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Maybe you are too early to plan for a charity-based investment. For myself I prefer to project more successful first and then after getting successful I can cut a few percentage points to charity. this would be better than the original concept just for charity

ice098

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Quote from: crwth on April 27, 2021, 01:33:38 AM

So the more you transact, the more you can kind of "donate"?

I think it's a great idea, and maybe it could add an integrated thing with staking? Perhaps if you have those rewards, then they could be deposited into the charity account and that distribution that is needed or something.

Additionally, maybe you could work with the Bitcointalk Charity or something.

It is such a good idea for a fund raising drive that may help those who truly in need if there are no hidden agenda by the moderator or the fund raising drive manager. it could really help indeed but as long as the project moderator can present a legitimacy of their project then i wouldn't have any second thought to give a donations either. It is a good deed indeed but however the corruption thought in the people may also be there, it is given to have a second thought especially when money involved.

CryptoScarface

newbie

Activity: 9

Merit: 0

Thanks everyone for the initial feedback.

When it comes to the fee:

- Yes, it applies on every transaction (buy/sell)
- Some comments mention that the 10% fee is too high:

Just reminding that Safemoon has the same 10% fee (but no charity) and exploded.

- 5% is redistributed to the holders so the more you hold the more you accumulate
- 5% is collected in a wallet dedicated exclusively for charity projects

It is built on BinaceSmartChain

Please keep commenting
Your feedback is highly appreciated

Thanks

Topic: Would you invest if it would also help those in need? - page 2. (Read 466 times)