So something happened recently and I was reminded of an old, ooooold so called hidden gem that was meant to be 'a decentralized alternative to the traditional banking system' known as Electra and I said to myself: Gosh, that sure was a stupid ****** idea. Not that part about leaving banks out of the equation, but that part about basically having no added value to Bitcoin other than being (slightly) more ASIC resistant.
So it was not a scam per se, it was just 💩 and that made me sincerely wonder: Is there such a thing as an idea that is so 💩, that it basically is the same as just a scam because there is no way in a million years it could be actually useful? The answer, is yes:
One of my favorites, mainly because it was shilled heavily and because the CEX where people could mainly get it from is now no more, was XRT aka 'robonomics'. An ERC20 which came out about four years ago. Sometimes something is so ridiculous there's no need for explanation so I'll let their own claims do the talking:
The story with the exchange is that Stex, some Lithuanian exchange ran by some Ukrainians, had the most volume for XRT out of all the exchanges it was listed on. Stex now apparently claims their site was 'hacked' but there is reason to suspect foul play. So not only did the XRT token itself become worthless, chances are many people lost it altogether because the site has now vanished.
Moving on, the shopping revolution dubbed Nucleus Vision:
Imagine walking into a store. The shop assistant greets you by name and already knows your size and style, you don’t have to spend too much time looking for the clothes or the shoes you like. Your device has all the data and when it connects to that of the store, you get highly personalized customer service. In exchange for that user data, you get tokens that you can choose to keep or spend in stores that are a part of the Nucleus Vision network... bridge the gap between the online and the offline channels, starting with retail. The company has developed its own IoT sensor technology called ION that can identify when a customer is near the shop and sense pressure, temperature, sound, and motion.
If this sounds too ridiculous to you, then just give their ad a try: Warning, some viewers may find the scenes cringe:
But this one may be only for the OGs because Nucleus vision is no more, long live Nitro Network:
Nitro Network (formerly Nucleus Vision) is building a world of private communication networks powered by IoT together with LoRaWAN/3G/4G and 5G. This hyperconnected world is the IoT alternative to cellular networks unlocking a $3 trillion market opportunity. The company's decentralized private telecom networks is a gamechanger built on a blockchain with its proprietary token NCash.
OK so....they sort of went the other way there and are now almost in the Helium (HNT) field. But hey, more power to them, I mean at the very least they are still around and still trying different stuff. But you know my opinion on these types of major rebranding and diversification.
Next up Potcoin.
PotCoin provides blockchain payment technology and ecosystem solutions to empower the Cannabis Industry....Since 2014, PotCoin has been at the forefront of the financial, structural and ideological revolution the has shaped the global cannabis industry as we know it.
How? Just....how? How does this 'Potcoin' do what Bitcoin doesn't? Is there any difference between a coffeeshop accepting Bitcoin instead of Potcoin? Yes there is actually, the difference is A) the buyer will most likely be too high to have ever paid attention and thus never even heard of Potcoin, and B) The business would have been rugged like three times on his earnings. Oh, but that's OK because by using Potcoin you, unlike with Bitcoin, do get a rewards system where you can earn more coins which will be even more worthless after the fourth rug. Hah, take that Bitcoin, Potcoin for the W.
I should have just quit this one at the name and stated: Next up Potcoin, enough said.
Next up Dentacoin: 'The first blockchain solution for the Dental industry'. Oh really, what are you going to do, send over crowns and fillings to dental practices over the blockchain? Now for those who start getting the idea that crypto might be a scam pit, allow me to introduce you to a little something called kickstarter where people actually collected money to make invisible panties
Water melon holder
A USB that has no other function than solely the hashtag key (yes, a real product)
And last/least, Poopins. Tags meant for you to go around sticking in 💩