Once you are part of the hype train with its wagons filled with: Ethereum, Blockchain, Technology, Bitcoin, Ico, Token, Price, market and other similar terms.. you will never go back.
All day you will be surrounded by debates of Want-to-be Traders/investors that are trying to get a small or big short-term success out of it, news of regulations done by Governments and so on and so forth.
As of right now, what keeps the crowd on the buzz are ICO-s (Initial Coin Offering) and how much they gather per/offering day. With Ethereum allowing to create your own token or the representation of a value – the so called “ERC20 TOKEN Standard” was created. A standardization of the token creation process.
A lot of them with promising technology, some with never-seen-before team supporting it are gathering millions in a couple of hours or days where you can offer a well known digital currency like lets say Bitcoin or Ethereum in exchange for a token of one sort. It is a show from the first-seat-row.
- From my stand point what makes people so hyped about ICO tokens, is that without any permission you can “invest” in any company/venture in any part of the world, and the Mind-Set supporting it:
“It is something different compared to what everybody else is doing – Early adopter – look at the technology and what it does – it is gonna blow up like Ethereum did”
The No Purpose Coins
What is interesting and that makes me love it: people making use of the hype train Creating Tokens that DO NOT DO ANYTHING at all and are still raising crowdfunds to support it. Joke Tokens.
The Most Private Coin Ever
It is not the Next big Thing but as soon as you discover their website you are announced as a winner. That is more than enough for starters.
“With The Most Private Coin Ever, you won’t have to worry about losing anything.
Because this coin is absolutely worthless.”
As Quoted by one of the creators Max Nachamkin:
I’m excited for all of the possibilities within Blockchain but I do get concerned that people are dumping their money into over-hyped projects in the hopes of a payoff that will never come.I wanted to poke fun at the ICO buzz while educating people on how to set-up their own secure ether wallet so they can protect their assets (instead of keeping them in an exchange like coinbase ).I spent a weekend to create my own token.
Useless Ethereum Token
Useless Ethereum Token – The UET as its name says it does nothing, absolutely nothing. You can only hold it and transfer it – thats about it. Its crowdfunding under three days has raised over $40,000 and it has 3-4 days more to go.
What the Creator of UET made a lot of sense from the marketing and business functioning of a product:
“I realized that people didn’t really care about the product. They cared about spending a little bit of money, watching a chart and then withdrawing a little bit more money. So why not have an ICO without a product, and do so completely transparently just to see what happened?” – The CEO of UET for New York Times
FOMO – Fear of Missing Out mindset remedy to make you think you will not be missing out the next big thing on the ICO Hype train.
FOMO Creator, Software Developer from Ireland Jamie Farrelly said that he really did work on it a couple of hours:
“It’s a real token, I had a few hours to spare,” he said. “Plus the current ICO situation is nuts. Had to make people think a bit more about it.”
“We’ve been working on FOMO Coin for at least two hours.” FOMO Coin has only attracted $6.50 in ether so far.
The Infamous DogeCoin – The “doge” by which is the coin named is a Shiba Inu dog named Kabosu who was later on transmorified into a meme. It raised $30,000 for the Jamaican bobsled team to compete in the winter Olympics.
Till now it climbed to over 20-fold: over $400 million in June.