Virtual Currency - Alt Coin Discussion Thread
04-16-2019
, 11:22 PM
Quote:
Thanks for the write up.
I can create a 'scarce' ETH token exactly like MTL in 5 minutes that can be sent to anyone in the world with trivial fees and no intervention.
It will have a 'fixed total supply'.
I can tell you that one day some merchants may even accept this token.
The only unique 'utility' you have mentioned is that the more MTL I hold the more MTL I can earn. Scam.
These 'reward' tokens that have been printed out of thin air and backed by nothing are ridiculous. They are trying to create something akin to air-miles but they missed one crucial element - air-miles can actually be redeemed for actual real world utility.
Yes MTL can currently be redeemed for ~ 50 cents, but that is simply because speculators and dumb money have been fooled by the blockchain bubble. Just because a token has a few similar aspects to BTC does not mean it has any value.
I can create a 'scarce' ETH token exactly like MTL in 5 minutes that can be sent to anyone in the world with trivial fees and no intervention.
It will have a 'fixed total supply'.
I can tell you that one day some merchants may even accept this token.
The only unique 'utility' you have mentioned is that the more MTL I hold the more MTL I can earn. Scam.
These 'reward' tokens that have been printed out of thin air and backed by nothing are ridiculous. They are trying to create something akin to air-miles but they missed one crucial element - air-miles can actually be redeemed for actual real world utility.
Yes MTL can currently be redeemed for ~ 50 cents, but that is simply because speculators and dumb money have been fooled by the blockchain bubble. Just because a token has a few similar aspects to BTC does not mean it has any value.
Nobody is going to create digital money. MTL looks like a gift card in an app, pretty easy to replicate without a token like they're doing.
If the regulators and banks allow them to keep their project alive it will cost them to work on America as a payment app. So token holders will pay the cost for that as well, if there is any value after the next pump and dump.
05-19-2019
, 05:37 AM
