Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Forum related => Topic started by: Fivestar4everMVP on February 16, 2024, 10:17:27 PM
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Wow, so I just learnt it's possible to teleport our trust Score from btt, though doing this cost $5 for less than 5 trust Score, and $10 for more than 5 trust Score, and of course, this amount is to be burnt by sending ALTT tokens worth $5 or $10 to the specified burn address.
Though this is not a free service or feature, like it is with teleporting ones btt rank to alt here, but I think this is a very good feature overall.
And I did spend some time today to go through all the content in the alt talk shop, and I was actually amazed by the number or features, and the fun things we can do by simply burning the required amount of ALTT.
And I have one important question for the admin, is it possible to mint more ALTT or the total/max supply capped at its current number?
(I guess some of us will already understand why I asked the above question, but just incase no one does, I will gladly say why I asked).
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Wow, so I just learnt it's possible to teleport our trust Score from btt, though doing this cost $5 for less than 5 trust Score, and $10 for more than 5 trust Score, and of course, this amount is to be burnt by sending ALTT tokens worth $5 or $10 to the specified burn address.
Did you try it or just find a way and plan to try it, as I am not seeing any trust score (which I honestly didn't know if existed)? Can you share the link or way of teleporting the trust score? Thanks.
Though this is not a free service or feature, like it is with teleporting ones btt rank to alt here, but I think this is a very good feature overall.
You are right, this forum is full of features where we have to burn ALTT tokens which overall is good for the token holder, admin is making great decision related to ALTT tokens. [/quote]Well, I found the service and thought to spend some time in the shop as well, I visited the shop section 2 times but never scrolled down to the bottom to see what's more in there, just saw the front table and exited. (To those who wants a direct link to this teleportation of Trust score (https://www.altcoinstalks.com/index.php?topic=315406.0#:~:text=6%2D%20Teleporting%20trust%3A%0ATeleport%20trust%20from%20btt%20%3E%3E%3E%20Burn%205%24%20worth%20of%20ALTT%20token%20%3E%3E%20then%20pm%20me%0Aif%20more%20than%205%20trust%20feedbacks%20%3E%3E%3E%20Burn%2010%24%20worth%20of%20ALTT%20token%20%3E%3E%20then%20pm%20me)
And I have one important question for the admin, is it possible to mint more ALTT or the total/max supply capped at its current number?
Its 100,000,000,000,000 ALTT you can confirm it on this page --> https://www.altcoinstalks.com/index.php?topic=124991.0
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Wow, so I just learnt it's possible to teleport our trust Score from btt, though doing this cost $5 for less than 5 trust Score, and $10 for more than 5 trust Score, and of course, this amount is to be burnt by sending ALTT tokens worth $5 or $10 to the specified burn address.
Frankly, this is the first time I have heard about this. Thank you. It is true that the service is paid and not free, but the amount is small and goes to support the ALTT token, which is good.
And I have one important question for the admin, is it possible to mint more ALTT or the total/max supply capped at its current number?
I'm not completely sure about that but I think that if the total/max supply of tokens can be increased then there is no point in burning, I mean if you are able to add more tokens then what is the point of burning?
Therefore, it is likely that no more can be minted
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Though this is not a free service or feature, like it is with teleporting ones btt rank to alt here, but I think this is a very good feature overall.
Yeah, all such features are currently paid ones and admin made those paid ones only to support ALTT token which we all understand. In fact I have personally visited the shop page and noticed that trust can also be teleported from Bitcointalk to this forum, but personally I haven't found anyone who purchased that feature by burning ALTT.
And I have one important question for the admin, is it possible to mint more ALTT or the total/max supply capped at its current number?
I think I agree with yhiaali3, and it's true that coin burning only takes place when a token is already minted and now the token owner wants to burn the supply so its value can increase overtime. It won't make sense to mint more tokens if burning is already taking place, by the way I have noticed that ALTT token has a huge supply.
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And I have one important question for the admin, is it possible to mint more ALTT or the total/max supply capped at its current number?
I'm not completely sure about that but I think that if the total/max supply of tokens can be increased then there is no point in burning, I mean if you are able to add more tokens then what is the point of burning?
Therefore, it is likely that no more can be minted
Well, you possibly understood why I asked that question, and you are right with what you said, if more tokens can be minted, then there is no sense in burning.
But then, here is another perspective to this, imagine we come to a time when this forum becomes really busy with traffic, alot of users exploring features on the forum, which also leads to lots of them burning lots and lots of ALTT tokens on daily basis, is it not possible that we may arrive at a time when ALTT becomes totally short of supply to burn?
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I think why the burning of altt token is to limit or reduce the supply so as to gain more value. Possibly these exercises of burning this token is just an idea to reduce the total supply with activities on the platform which would be a prerequisite or measures for a member to achieve a particular fit on this platform. The excercise is a good one which with time, would be able to achieve a specific goal as expected but with time as calculated for the excercise.
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The BTT DT list is updated monthly, which means that trust in bitcointalk changes every month, so will Teleporting Trust be updated periodically or what?
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The BTT DT list is updated monthly, which means that trust in bitcointalk changes every month, so will Teleporting Trust be updated periodically or what?
I believe it would be at just the period of teleportation, so if the admin decides to go for just trust feedback from DT1 and DT2 he’ll take all that was made before the teleportation and even if the list is reshuffled and one of the user in Bitcointalk get dropped off DT list the feedback will still stay here in altcointalk unless the user decides to pay another teleportation fee again.
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I believe it would be at just the period of teleportation, so if the admin decides to go for just trust feedback from DT1 and DT2 he’ll take all that was made before the teleportation and even if the list is reshuffled and one of the user in Bitcointalk get dropped off DT list the feedback will still stay here in altcointalk unless the user decides to pay another teleportation fee again.
This may give a bad indicator of trust. We know some famous accounts who have turned to scam. Posting a BTT link is sufficient in my opinion. Anyone who wants to make a deal with you must verify the trustworthiness.
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If everyone doesn't have a trust score, then what good is it? If they plan on implementing trust scores here then maybe, but i'm not sure I see the point if it's just random accounts that show a trust score.
It might be neat to be different from most of the forum, so I guess it's not a terrible idea.
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I remember years ago there was a similar service whose name roughly began with bit, where you could add accounts on bitcointalk, Localbitcoin, paxful, and some other forums, and then you would be given a score. This total score various points such as the date the accounts were created, positive trust, negative trust, etc., and you get a number. It is an indicator of trust.
If such number were implemented, it would be much better than Teleporting Trust From Btt, and then this service could be a paid service. The more trust points there are, the more people will be able to trust you or act as an escrow.
we can call it escrow points ;D
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If everyone doesn't have a trust score, then what good is it? If they plan on implementing trust scores here then maybe, but i'm not sure I see the point if it's just random accounts that show a trust score.
It is good for nothing ;D
Trust is more important on bitcotinalk forum but everyone can function perfectly without it.
In altcoinstalks forum there are other ways to mark if someone is suspicious or scammers, and I think that is enough.