Monday, October 1, 2018

Utility tokens are a meme

Utility tokens are a meme and some startups made a killing off of ICO's late last year without having to issue real shares of their company to investors, funnily enough most "investors" are stuck bagholding worthless fun tokens with no share in the company whatsoever.

Also the fake 'real-time' cV token to fiat conversion proposed during ICO won't happen because in case of a refund you need to give the customer back his money so platform would need to sell the cV it bought using clients fiat and that makes another taxable event, the second reason why real-time conversion won't happen are the fees. You think CarVertical want to use tokens when Paypal and Fiat work so well, lol. Keep dreaming.

Utility tokens are worthless. Hell, accepting Ethereum or Bitcoin will be better for payment than cV token because at least most fiat gateway Exchanges have those coins listed, cV can't even get on more than 1 Exchange, lol.


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