1st step: Buy bitcoin or Ethereum, then turn them into a token for this platform? Why not just utilize bitcoin or ethereum for the value transfer? Why the need for a "new token"? Because greed, that's it. There is no need for a token such as this as everything this token does can be achieved by already proven blockchains
Although I understand your opinion @inity, I also don't see a problem in the proccess of transforming bitcoin and ethereum into CFTY (after all it's a token built on top of a blockchain), they are trying to create an 'internal economy' using their own token and I don't see something bad in this idea as it doesn't interfere with the evolution of the platform or its performance (many blockchain projects introduce a new currency). Moreover, I think users are getting more involved in the community the platform is trying to create this way. I'm looking forward to hear more about your opinion.
That model would work if you had an existing business model transitioning their "shares" to a token, but not when you're creating the value (tokens) out of thin air. Why not just pay freelancers with bitcoin or ethereum? But yeah, I know what you're saying, too.
Agreed that this is a risky move for a barely released business. There is a need for trust in the system and in the token issuer. But I think they rely on the trust and value they obtained by releasing Diarissima three years ago. I guess we just have to see the evolution of it and if their project ideas are well set up.
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1st step: Buy bitcoin or Ethereum, then turn them into a token for this platform? Why not just utilize bitcoin or ethereum for the value transfer? Why the need for a "new token"? Because greed, that's it. There is no need for a token such as this as everything this token does can be achieved by already proven blockchains
Although I understand your opinion @inity, I also don't see a problem in the proccess of transforming bitcoin and ethereum into CFTY (after all it's a token built on top of a blockchain), they are trying to create an 'internal economy' using their own token and I don't see something bad in this idea as it doesn't interfere with the evolution of the platform or its performance (many blockchain projects introduce a new currency). Moreover, I think users are getting more involved in the community the platform is trying to create this way. I'm looking forward to hear more about your opinion.
That model would work if you had an existing business model transitioning their "shares" to a token, but not when you're creating the value (tokens) out of thin air. Why not just pay freelancers with bitcoin or ethereum? But yeah, I know what you're saying, too.
Agreed that this is a risky move for a barely released business. There is a need for trust in the system and in the token issuer. But I think they rely on the trust and value they obtained by releasing Diarissima three years ago. I guess we just have to see the evolution of it and if their project ideas are well set up.
Submitted!
You got a 33.33% upvote from @voteme courtesy of @sweetscentof98! For next round, send minimum 0.01 SBD to bid for upvote.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by sweetscentof98 from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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Be sure to leave at least 50SP undelegated on your account.
This post has received a 0.45 % upvote from @drotto thanks to: @banjo.
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