Terrible Token Tuesdays — 10 ICOs only a mother could love
Welcome to this week’s Terrible Token Tuesdays! Join hands with us as we dive deep into the impractical, unscrupulous, and sometimes hilarious world of cryptocurrency startups. Whether we are dealing with MLM ponzis, unregistered securities, or Blockchain 4.0 snake oil, our #SOMO (Satisfaction Of Missing Out) does not discriminate. Please Enjoy!
Plug: ConcourseQ is an open organization on the internet! The community did all this due diligence only to give it away for free. There’s lots of cool stuff to work on, even if doing ICO DD isn’t your thing. We want you to join the ConcourseQ community. (unless you are terrible) Click this link before it expires*: https://discordapp.com/invite/VPjJGTj
Modex — A marketplace for smart contracts where developers can sell custom-built or standardized smart contracts to companies and other users. March 28th, 2018-April 23rd, 2018.
Centralised project, using blockchain for no real-reasons while creating a token that is not really needed. The team will collect 30% of each code’s revenue, which is almost if not more than most current intermediaries.
Concierge — Decentralized travel agency. Starts March 31st, 2018 — April 28th, 2018.
A Neo-native rebrand of their previously attempted unsuccessful Conciergecoin on Ethereum. The project has sold to the public under the branding of Pre-sale the same tokens at a 60% discount in February. The Token is not needed, and creates an additional layer of complexity on the platform while just acting as a funding vehicle for the team.
PRETHER — cryptocurrency backed by Precious Metals. Starts April 1st, 2018.
A crypto-currency backed with precious metals, with a CEO that has no previous experience, and a CIO who is a full time traveler. Website lists testimonials by Queen Elizabeth II and Ghandi, while one of the two advisors seems to be family related to the CEO.
Elementh — Elementh is a blockchain that is specifically designed for tracking large numbers of goods, and determining whether or not they are authentic. Starts April 1st, 2018 — April 30th, 2018.
The Same team has conducted a failed ICO (Ahoolee) for a somewhat similar idea “Search Engine for products” and their product was supposed to launch in Dec 2017. Questionable value for the token since the platform will accept any cryptocurrency.
Bit Nautic — aiming to create a shipping and cargo platform based on blockchain technology. Starts April 15th, 2018 — June 15th, 2018.
A CEO who is still at University is aiming to create a decentralised shipping platform while looking to buy their own shipping fleet and offering an ATM card in the same time. The Company that aims to cover all those fields was just registered to a flat in Jan 2018.
Parsec Frontiers — A player-driven game on the blockchain where players mine and refine rare metals, build advanced starships and defense systems, and buy and trade resources for profit on planetary exchanges. Starts April 1st, 2018.
Proposes to create a huge MMO game on the blockchain, while trying to combine Ethereum and “a private chain” without any blockchain development talent on the team.
Faima — Creating a distributed network for medical diagnosis by leveraging the computational power of AI to identify patterns. Starts April 1st, 2018 — May 1st, 2018.
Whitepaper is advertising 722% gains and full of grammatical errors, typos and informal slang, making it look like it was run through an online translator. People that can’t proofread a whitepaper rarely produce mad gainz.
HYCON — Using a DAG (Directed Acyclic Graph) structure, it has the capability to publish several blocks simultaneously with the ability to resolve conflicting transactions and reject double-spends through the SPECTRE consensus algorithm. Starts March 30th, 2018.
DAG based Infrastructure project with no code on Github! The team does not seem to be very proficient with the project documentation, and no have verifiable Blockchain track record for a project of this magnitude.
Bubbletone — The first decentralized telecom ecosystem that allows mobile network operators, phone users and service providers to interact directly. Starts April 18th, 2018 — May 20th, 2018.
Touting their 4 months old Bubbletonel app, which is a standard internet instant messaging and calling app that has nothing to do with the scope of the project! The founders previous project (which does not seem to have taken off) was the same idea they are doing now without blockchain, possibly signaling that blockchain is not really necessary for the project.
Diet Bitcoin — Allegedly “dietbitcoin is a faster, lighter alternative to bitcoin”. Starts May 14th, 2018.
A Bitcoin fork by Pablo Escobar’s brother. We’d tell you more, but we want you to click the link.
The ConcourseQ team would like to thank everybody that helped on these DDs and all the others involved! If you want to join our community, meet us on our Discord.
*invite link does not actually expire.
