Disclaimer: The idea behind this post is Not to defame any individual but to highlight a few concepts to the community at large
Background
I just recently came across this post on reddit about a user who is complaining about noise.cash and read.cash, And it is the most flawed argument I have ever read
Bit of context
This user has created tokens of noise.cash & read.cash and selling them to early adopters, calling it 'Noise Cash Early Adopters Token', of the platforms noise.cash & read.cash, and he/she is not part of the development team nor the promoters. And he/she is complaining about being flagged as a scammer and being contacted by the developers of noise.cash and read.cash to stop plagiarizing them through his token issue.
His argument
Since BitcoinCash uses the Bitcoin name he can issue a token in noise.cash and read.cash name
The flaw in logic
Okay, so most likely you can already see the problem in this user's argument, but let's analyze it a little.
Why BitcoinCash can use the Bitcoin name?
Short Answer: Because BitcoinCash (BCH) is a fork or the Bitcoin (BTC) blockchain.
Longer answer: the developers of BitcoinCash (BCH) were initially part of the Bitcoin (BTC) team and had a stake in the development of the blockchain, however there was a disagreement between some of them, namely the size of the blocks, and they decided to go there separate ways and fork the blockchain.
Fork happens when developers take a copy of source code from one software package and start independent development on it, creating a distinct and separate piece of software
Here the developers themselves start and independent development, and not some random dude out somewhere in the wild.
Why you can't sell token on someone else's name?
Okay, so I don't feel that I need to explain this but since this is part of the argument, I have to.
Imagine if someone was using your actual name (the one you use in real life) as a name of some cure for sexual transmitted disease, which he/she sold to everyone you know and moreover it doesn't work as it turns out is just cow poop.
Now use the same logic for this so called 'Early Adopter' token
You do not own Noise.Case or Read.Cash
As the user admitted, he isn't part of the developers team nor is one of the promotors. Without having any involvement or agreement with the owners of the platforms you are using their brand name.
Your token has no use case or official value
Since the token is not supported by the developers and doesn't represent anything, you essentially trying to promote it as a novelty.
Naming it early adopter token, How will you guarantee its authenticity without having admin access to the said platforms.
If they are novelty badges the why are you trying to selling them?
You are putting the developers' reputation at stake
If people buy your tokens and it rises in dollar value, you can easily dump your entire holdings and devalue the token. Leaving other people at a loss with a worthless token in their holding.
This is what is known as a 'Pump and Dump' Scheme or Scam (or swindle if your British)
Therefore, what this user is doing is immoral and a scam
My only hope with writing this article is for the community to identify such clear examples of shitcoin scam and not fall for them.
If you come across anything on the web be it Crypto related or anything else, take a moment to sit back and think about it, research it and identify the motives of the person behind it before throwing your money away.
Link to the post: https://www.reddit.com/r/btc/comments/pah6rx/so_i_created_a_token_with_the_name_noise_cash_now/
Please note it could be taken down by the time you read this
In case it is removed then here is the snapshot of the full post
