RE: Drugwars - Introducing FUTURE the new DrugWars Token.

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RE: Drugwars - Introducing FUTURE the new DrugWars Token.

zainenn in #drugwars • 7 years ago

Why is it a shitty token out the gates tho? Not avoiding anything, observing all the discourse. When I spend money on Clash Royal I dont expect a ROI. What if it turns out this shitcoin becomes worth more than steem? I think they are building a gaming platform where all crypto currencies can part take, if I'm not mistaken. However it will be built on steem, utilizing SMT. Maybe Im wrong, I'm not above admitting it when I am. It is too early to make assumptions of intent. Fundition and Steemit Inc. support them, I feel like I do too.

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7 years ago in #drugwars by zainenn

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cryptosharon 7 years ago (edited)

It is a shitty token because it has no value. Imagine that you give a banker your gold and he gives you a certificate of that amount of gold. He didn't force you to give him that. Hidden within the contract is a clause that allows him to give you something of "equivalent value". The next month you need some of that gold and he gives you a plastic statuette of a cute dog. Yes, it's very pretty, but it's made of plastic. It's not reproducible, but it's worth is yet to be determined. When you're dealing with money, you're dealing with verifiable quality and exchangeability. It is the principle that gave birth to Bitcoin. Watch the Israel conference video by Nick Szabo. It explains exactly what makes a token be worth something. Future token is worth nothing right now, and it'll be worth very little for a long time. In Spanish we have a saying: "meter gato por liebre" (giving someone a cat instead of a rabbit). It's basically a switcharoo, a kind of scam very common around the world (especially in China I believe)

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zainenn 7 years ago

It has whatever value of steem was injected into it, doesn't it?

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birchmark 7 years ago

Not really, because all of this sort of stuff depends on what the market values it at. By buying the tokens from themselves with steem they can essentially "set" the price but not for long. If the rest of the market has no demand for it, it won't sell for that amount and the value will drop. It could go either way, but artificially increasing the value of the token by injecting steem into it certainly doesn't guarantee it will remain at that value. If they don't want to be No Mans Drugs they NEED to pay out the steem first. Not everyone will make up their loss from them doing that, but the steem spent by players will go back to players which is essential to not look like liars or scammers that rip people off.

This token might grow and it might be the way forward for not only drugwars but the "future" games they mention, but it might not too so the reward pool should be used up first so player spending goes to players. Artificially increasing the value of it in the way they / you describe does not make that coin just be that value now as it could drop dramatically pretty quick. Excited to see where stuff goes but no it is not as simple as the coins having the value of the steem injected into it.

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cryptosharon 7 years ago

Absolutely not. It has whatever value people give it. So far, people don't give it any value.

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