The weird and wacky world of cryptocurrency
The world of cryptocurrency is well know for scams, promises, dreams and let downs. Within the world of cryptocurrency there is also a fair few cryptocurrencies that are just downright weird, off and strange! Thought I would share some of the more wacky ones today.
Coinye West
Yes you heard that right - an obvious play on words that was in no way associated or sponsored by Kanye West. This weird and wacky altcoin was released back in 2014. The official logo also had a likeness to Kanye West. Unfortunaly Kanye and his laywers sued this until it was no more on the grounds of copyright infingement. Its a real shame I thought Coinye had real potential.
Trumpcoin
Another unofficial cryptocurrency not supported in any way shape or form by Donald Trump. The vision behind this project is a way to support the Trump presidency. This coin is still being traded on Coinmarketcap, wiht a current price per coin of $0.056, and a market cap of $375k. Somehow in January Trumpcoin reached is peak, with a market cap of over $5 million.
If you want to know more (why would you?), check out the website here. Its very vague though and I couldnt find out alot from it.
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Potcoin
Potcoin is essentially what it sounds like - a quote from their website: 'PotCoin is the first digital currency created to facilitate transactions within the legalized cannabis industry. PotCoin is a community based effort'
The aim of Potcoin is to become the standard means of payment within the legalized cannabis industry.
Although it sounds odd it sounds like people are taking this one seriosuly - it has a market cap of over $10 million on Coinmarketcap. Potcoin has gained support by ex NBA star Dennis Rodman.
Useless Ethereum Token (UET)
The fact that people actually own and trade this coin is beyond my comprehension and belief! There is even a warning on their website:
You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television.
Reading through their website is a bit of a laugh and its clear they are just doing this for shits and giggles. There is no whitepaper, and no explanation of what these tokens can be used for - esentially it sounds like these coin ae of zero value.
The market cap of UET is around $53k, which is super tiny, but still means people are buying and selling these coins!
Seriously, don't buy these tokens.
Im sure there are loads more weird and wacky coins - what is your favorite one?
LoL
Great post, love the memes
Totally agree with you, a lot of junk out there. For anyone listening, use the dips to buy quality projects.
My current favourites (not financial advice!)
Thanks @kabir88
Nothing is ever financial advice these days 😅Ill have to look into Wepower thats one I havent heard of before!
Great examples of things that can happen with the new technology of blockchain. The reality is that the tough part is how to filter those that make sense and whether they have the right team and community to support the roadmap and adoption afterwards. There are many phases at which new coins can fail and that is why many have over the last year.
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I read the Useless Ethereum Token website and it is funny satire on the state of cryptocurrency.