The ICO crapcoin checklist
- Does the coin reward users for contributing resources towards the creation of a shared service that will benefit all users?
- Can the resources contributed by users be verified by anyone?
- Does the service always fall within an expected range of operation?
- Is the coin new and no other coin offers the same service?
- Is it impossible to substitute the use of the coin for another?
- Does the business model for the coin make sense?
- Does the team behind the coin have the required experience?
If you answered “no” to any of these questions you may have discovered for yourself a bonafide crapcoin!
A crapcoin is the term for any coin whose main purpose is to make the founders richer. Typically such coins will use misleading technical-sounding jargon to try dupe investors into thinking they are investing in the next Bitcoin when really they are being sold worthless tokens.
Quite often these
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