@The.Part.Time.Economist
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What is an "Airdrop" ? - Crypto Whiteboard 101
https://open.lbry.com/@ThePartTimeEconomist:6/crypto-airdrop:b?r=BW4Ty7cmQquUao5UNSqWNAzLTdg6KXmr A cryptocurrency “airdrop” is a promotional tool in which crypto teams give users crypto in exchange for completing certain tasks. One of the most important lessons that my grandpa taught me is there is no such thing as a truly free lunch. Although users don't “pay” for cryptocurrency in the sense of spending cash, users have to pay for this cryptocurrency by completing various social media tasks such as following a social media handle, re-sharing an article, registering on an exchange, or tagging a certain number of people. In this article, I'd like to discuss the basics of cryptocurrency airdrops including what they are, how they work, and a few of the different ways in which they are implemented.
5 comments
Great video and I like 2 minutes format. I participated about 20 airdrops about 2 years ago in order to understand how Ethereum works. But not only erc-20 airdrops. Half of them disappeared, some suddenly requested KYC, but I have now 8 'dead' airdrop tokens at zero value. Still good learning at no cost. But I do not participate in airdrops anymore.
I agree. I wouldn't say that airdrops are "scams", but for the vast majority of people, they simply aren't worth the time or effort.
Agree. There are airdrops within wallets as well. Interesting tweet from uphold about their airdrop to XRP holders : https://twitter.com/UpholdInc/status/1301209049116143618?s=20 Also on telegram channels, it is an option to distribute erc-20 tokens. UpTrennd is doing that via ParJar bot. It is probably expensive to swap or withdraw, I gave not tried, but this way of distribution is simple and there is no need to ask for blockchain address. Only telegram/phone. Which may make airdrops much easier!
I don't participate either, and I agree with the reply from The Part Time Economist...they are not worth anyone's time anymore.
This is a great video...good content as always sir!