04-03-2021, 02:31 PM
It is very easy to make your own token. It is incredibly easy to go out and shill it
<!-- SC_OFF --><div class="md"><p>This is more aimed at the newer crypto investors, especially the ones who use TikTok, Twitter, and Instagram for crypto news/advice.</p> <p>I am studying computer science at uni, but I am by no means an expert on anything to do with cryptocurrency creation. Nevertheless, in around 20 minutes. I made my own token, launched it on the Ethereum testnet, and started sending it between wallets etc. It would not have any true functionality, but it wouldn't need any. Anyone can do this with very basic programming skills.</p> <p>If I wanted to, I could now very easily do this on the mainnet - just pay some ETH fees, set up an ICO, and pay some crypto influencers a relatively small fee to claim my coin as the next big 1000x investment.</p> <p>I could even make my own tiktok account promoting it, and due to the nature of the algorithm it would not be too hard to reach at least some crypto newbies.</p> <p>Then of course, I get rich, and dump my 50+% of the supply.</p> <p>I am not saying that it is this easy to pump a brand new coin, just that with some marketing luck or even just marketing budget, it's very possible.</p> <p>All this to say, a coin's existence is not proof of technological innovation, usefulness, or even legitimacy as a project. Anyone can make a coin. Anyone can make a quick website for it with some buzzwords.</p> <p>If a coin can't show a specific use case, industry, or new technology, it is probably a shitcoin.</p> <p>Take SAFEMOON as an example, it was pumped heavily on social media, and the price rocketed. Now, there's SAFEMARS, SAFESTAR being churned out, with absolutely no unique uses or functionality.</p> <p>Hope this deters at least one person from buying a total shitcoin they found on social media.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ominousomanytes"> /u/ominousomanytes </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mj4r0q/it_is_very_easy_to_make_your_own_token_it_is/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mj4r0q/it_is_very_easy_to_make_your_own_token_it_is/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>This is more aimed at the newer crypto investors, especially the ones who use TikTok, Twitter, and Instagram for crypto news/advice.</p> <p>I am studying computer science at uni, but I am by no means an expert on anything to do with cryptocurrency creation. Nevertheless, in around 20 minutes. I made my own token, launched it on the Ethereum testnet, and started sending it between wallets etc. It would not have any true functionality, but it wouldn't need any. Anyone can do this with very basic programming skills.</p> <p>If I wanted to, I could now very easily do this on the mainnet - just pay some ETH fees, set up an ICO, and pay some crypto influencers a relatively small fee to claim my coin as the next big 1000x investment.</p> <p>I could even make my own tiktok account promoting it, and due to the nature of the algorithm it would not be too hard to reach at least some crypto newbies.</p> <p>Then of course, I get rich, and dump my 50+% of the supply.</p> <p>I am not saying that it is this easy to pump a brand new coin, just that with some marketing luck or even just marketing budget, it's very possible.</p> <p>All this to say, a coin's existence is not proof of technological innovation, usefulness, or even legitimacy as a project. Anyone can make a coin. Anyone can make a quick website for it with some buzzwords.</p> <p>If a coin can't show a specific use case, industry, or new technology, it is probably a shitcoin.</p> <p>Take SAFEMOON as an example, it was pumped heavily on social media, and the price rocketed. Now, there's SAFEMARS, SAFESTAR being churned out, with absolutely no unique uses or functionality.</p> <p>Hope this deters at least one person from buying a total shitcoin they found on social media.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/ominousomanytes"> /u/ominousomanytes </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mj4r0q/it_is_very_easy_to_make_your_own_token_it_is/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/mj4r0q/it_is_very_easy_to_make_your_own_token_it_is/">[comments]</a></span>Kind Regards R