Dogecoin
$0.00211 1.00%
DOGE · 74w

People invested thousands of dollars in "Useless Ethereum Token" (Dogecoin mentioned)

The initial coin offering (ICO) craze is getting ridiculous. The latest evidence: A cryptotoken called “Useless Ethereum Token” has raised over $40,000 in just under three days.

Here’s its pitch: “UET is a standard ERC20 token, so you can hold it and transfer it. Other than that… nothing. Absolutely nothing.” And the offering still has four days to go before it closes.

Useless Ethereum Token is part caustic satire, part artistic intervention. Its anonymous creator, who goes by UET CEO, told the New York Observer: “I realized that people didn’t really care about the product. They cared about spending a little bit of money, watching a chart and then withdrawing a little bit more money. So why not have an ICO without a product, and do so completely transparently just to see what happened?”

Indeed, token offerings have already raised $327 million in the first half of the year, according to research by trade publication CoinDesk. That doesn’t account for monster raises in the interim, like the EOS offering, which attracted over $200 million worth of ether in about two weeks, according to research firm Smith and Crown.

UET is not the only gag cryptocoin. Another newly launched one is FOMO Coin, which promises a remedy to speculators with a fear of missing out on the next hot ICO. “Get in before it’s too late!” its website exhorts readers. “We’ve been working on FOMO Coin for at least two hours.” FOMO Coin has only attracted $6.50 in ether so far.

FOMO Coin’s creator, a software developer in Ireland named Jamie Farrelly, told Quartz he had indeed only worked on it for a couple of hours. “It’s a real token, I had a few hours to spare,” he said. “Plus the current ICO situation is nuts. Had to make people think a bit more about it.”

Joke coins have a history of taking on a life of their own in the cryptocurrency world. Just look at dogecoin, the granddaddy of humor-based cryptocurrencies. The “doge” in question is a ...

Continue on qz.com
tradingview.com

my DOGE chart art!

Dogecoin
$0.00211
4
twitter.com

Dogecoin Socks Giveaway

Dogecoin
$0.00211
4
Recent news
DOGE +1.00% · tradingview.com · 21h

my DOGE chart art!

Dogecoin / Bitcoin (POLONIEX:DOGEBTC). Get more trading ideas from pjmorin20. Follow market experts, get opinions and be heard! Join the largest trading & investing community on the planet.
DOGE +1.00% · twitter.com · 22h

Dogecoin Socks Giveaway

I’m partnering w/ @kimchisocks to give one lucky person a free pair of #dogecoin socks 🤗To be entered to win, you must:Follow me & @kimchisocksLike, retweet, and tag a friend!Winner will be annou...
DOGE +1.00% · forra.io · 22h

Selling Products For Cryptocurrency The Easy Way

Selling a product for cryptocurrency is a great idea no matter the business you are in. Forra makes it easy to sell a product for bitcoin or ethereum. Our marketplace makes it easy to sell anything fo...