The Bitcoin Bullshit List
If yous mitt some the Bitcoin infinite for awhile, yous volition inadvertently come upwards across a few or copycoins, scamcoins, scams, ponzi schemes as well as what get got you. Whether it's a large scam similar Paycoin, minor scale heart as well as dumps similar Quarkcoin, or something that mightiness await similar an earnest projection that got likewise large for its ain skillful similar The DAO, afterward awhile yous rootage seeing the same designing as well as ruby-red flags repeat themselves over as well as over again.
Being inspired past times the e'er timely SpamSolutions.txt (a quick checklist of "why your take in to solve the employment of spam won't work"), awhile dorsum I started compiling "The Bitcoin Bullshit List" (also available at http://tiny.cc/Bullshit). It should live on expansive plenty to comprehend most of the mutual scenarios, but if yous retrieve it's missing something, permit me know as well as I'll add together it inward the futurity revisions.
So, how does the Bitcoin Bullshit List work? You just read upwards on or brain to a projection pitch as well as rootage filling inward the checkboxes inward the "Your Crypto Idea Will Not Work" section. Once you're done, yous tin give notice summarise your thoughts as well as give the projection a brusk "Bitcoin Bullshit Tier".
Let's become through an illustration to demonstrate how this mightiness operate inward practise (and cutting out the unnecessary parts of the lists).
Your postal service advocates a new:
(x) Altcoin
(x) Investment scheme
Your take in volition non work. Here is why it won't work.
(x) Your target audience is likewise minor to back upwards the project
(x) The proposed safety model is (x) flawed / ( ) non plenty / ( ) completely incorrect as well as thence yous volition live on (x) scammed / (x) hacked / (x) stolen from / ( ) ________ quickly
(x) You hope unreasonable render on investment without a clear draw organization model of where the money is coming from
(x) Your projection cannot live on run legally at your jurisdiction
(x) Your projection volition non live on compliant alongside the electrical current (x) KYC / (x) AML / ( ) gambling / (x) securities regulations
(x) The solution would operate ameliorate equally a (x) centralised / (x) decentralised / ( ) distributed solution
(x) Your production is poorly implemented
(x) Your presale tokens get got no economical value
(x) Your adoption goals are unrealistic
Specifically, your programme fails to draw organization human relationship for:
(x) The existing regulations
(x) The required Money Services Business license
(x) The anonymous nature of cryptography
(x) Public reluctance to convey weird novel forms of money
(x) The human factor
as well as the next philosophical objections may also apply:
(x) Ideas similar to yours are slow to come upwards up with, nevertheless none get got e'er been shown practical
Furthermore, this is what I retrieve most you:
(x) Sorry dude, but I don't retrieve it would work.
Bitcoin Bullshit Tier
You are advertising a novel Bitcoin / crypto related project. Based on the data provided, yous get got reached the Bullshit Tier of iv for the next reasons:
Bitcoin Bullshit Tier 1 - marketing babble, technology misunderstanding
(x) Dropping names of crypto celebrities to bolster one’s credibility
Bitcoin Bullshit Tier ii - willful misinformation, bait as well as switch
(x) Claiming your projection tin give notice achieve something difficult without a clear explanation of how to create so
Bitcoin Bullshit Tier three - Many ruby-red flags (x) Assuring your production is legal
(x) Speaking most profits / render on investment
(x) Presale
(x) Token IPO
(x) Providing no fellowship contact information
Bitcoin Bullshit Tier iv - Outright scams
(x) Describing a fiscal safety as well as claiming it’s non a security
Your postal service advocates a new:
(x) Altcoin
Your take in volition non work. Here is why it won't work.
(x) There is already a production on the marketplace position that does precisely what you’re doing, but ( ) faster / ( ) cheaper / (x) ameliorate / (x) is to a greater extent than established / ( ) ______________ You are proposing exuberant fees for the role of your production that are unsustainable inward the long run
Specifically, your programme fails to draw organization human relationship for:
(x) Public reluctance to convey weird novel forms of money
(x) Huge existing software as well as hardware investment inward Bitcoin
as well as the next philosophical objections may also apply:
Furthermore, this is what I retrieve most you:
(x) Sorry dude, but I don't retrieve it would work.
Bitcoin Bullshit Tier
You are advertising a novel Bitcoin / crypto related project. Based on the data provided, yous get got reached the Bullshit Tier of 1 for the next reasons:
Bitcoin Bullshit Tier 1 - marketing babble, technology misunderstanding
(x) “As skillful equally / ameliorate than Bitcoin”
Generally, non that bad - some tick boxes volition apply to fifty-fifty the most benign as well as good important projects, and that's fine.
With many novel crypto projects cropping upwards as well as vying for your money, it's useful to measuring dorsum 1 time inward awhile as well as run across how many flags sure enough projects enhance earlier buying into them. Whether it's for laughs or equally a sanity check, the Bitcoin Bullshit List mightiness live on a useful tool to run through when looking at novel Bitcoin as well as crypto-related projects:
Sumber http://tpbit.blogspot.com/
Being inspired past times the e'er timely SpamSolutions.txt (a quick checklist of "why your take in to solve the employment of spam won't work"), awhile dorsum I started compiling "The Bitcoin Bullshit List" (also available at http://tiny.cc/Bullshit). It should live on expansive plenty to comprehend most of the mutual scenarios, but if yous retrieve it's missing something, permit me know as well as I'll add together it inward the futurity revisions.
So, how does the Bitcoin Bullshit List work? You just read upwards on or brain to a projection pitch as well as rootage filling inward the checkboxes inward the "Your Crypto Idea Will Not Work" section. Once you're done, yous tin give notice summarise your thoughts as well as give the projection a brusk "Bitcoin Bullshit Tier".
Let's become through an illustration to demonstrate how this mightiness operate inward practise (and cutting out the unnecessary parts of the lists).
Example - The DAO
Your postal service advocates a new:
(x) Altcoin
(x) Investment scheme
Your take in volition non work. Here is why it won't work.
(x) Your target audience is likewise minor to back upwards the project
(x) The proposed safety model is (x) flawed / ( ) non plenty / ( ) completely incorrect as well as thence yous volition live on (x) scammed / (x) hacked / (x) stolen from / ( ) ________ quickly
(x) You hope unreasonable render on investment without a clear draw organization model of where the money is coming from
(x) Your projection cannot live on run legally at your jurisdiction
(x) Your projection volition non live on compliant alongside the electrical current (x) KYC / (x) AML / ( ) gambling / (x) securities regulations
(x) The solution would operate ameliorate equally a (x) centralised / (x) decentralised / ( ) distributed solution
(x) Your production is poorly implemented
(x) Your presale tokens get got no economical value
(x) Your adoption goals are unrealistic
Specifically, your programme fails to draw organization human relationship for:
(x) The existing regulations
(x) The required Money Services Business license
(x) The anonymous nature of cryptography
(x) Public reluctance to convey weird novel forms of money
(x) The human factor
as well as the next philosophical objections may also apply:
(x) Ideas similar to yours are slow to come upwards up with, nevertheless none get got e'er been shown practical
Furthermore, this is what I retrieve most you:
(x) Sorry dude, but I don't retrieve it would work.
You are advertising a novel Bitcoin / crypto related project. Based on the data provided, yous get got reached the Bullshit Tier of iv for the next reasons:
Bitcoin Bullshit Tier 1 - marketing babble, technology misunderstanding
(x) Dropping names of crypto celebrities to bolster one’s credibility
Bitcoin Bullshit Tier ii - willful misinformation, bait as well as switch
(x) Claiming your projection tin give notice achieve something difficult without a clear explanation of how to create so
Bitcoin Bullshit Tier three - Many ruby-red flags (x) Assuring your production is legal
(x) Speaking most profits / render on investment
(x) Presale
(x) Token IPO
(x) Providing no fellowship contact information
Bitcoin Bullshit Tier iv - Outright scams
(x) Describing a fiscal safety as well as claiming it’s non a security
Well, that was pretty straightforward. Now, let's compare that to something that is to a greater extent than frequently than non not considered a scam as well as run across how good it fares.
Example - Litecoin
Your postal service advocates a new:
(x) Altcoin
Your take in volition non work. Here is why it won't work.
(x) There is already a production on the marketplace position that does precisely what you’re doing, but ( ) faster / ( ) cheaper / (x) ameliorate / (x) is to a greater extent than established / ( ) ______________ You are proposing exuberant fees for the role of your production that are unsustainable inward the long run
Specifically, your programme fails to draw organization human relationship for:
(x) Public reluctance to convey weird novel forms of money
(x) Huge existing software as well as hardware investment inward Bitcoin
as well as the next philosophical objections may also apply:
Furthermore, this is what I retrieve most you:
(x) Sorry dude, but I don't retrieve it would work.
Bitcoin Bullshit Tier
You are advertising a novel Bitcoin / crypto related project. Based on the data provided, yous get got reached the Bullshit Tier of 1 for the next reasons:
Bitcoin Bullshit Tier 1 - marketing babble, technology misunderstanding
(x) “As skillful equally / ameliorate than Bitcoin”
Generally, non that bad - some tick boxes volition apply to fifty-fifty the most benign as well as good important projects, and that's fine.
Conclusions
With many novel crypto projects cropping upwards as well as vying for your money, it's useful to measuring dorsum 1 time inward awhile as well as run across how many flags sure enough projects enhance earlier buying into them. Whether it's for laughs or equally a sanity check, the Bitcoin Bullshit List mightiness live on a useful tool to run through when looking at novel Bitcoin as well as crypto-related projects:
Sumber http://tpbit.blogspot.com/
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