Crypto Bear posted on October 09, 2019 20:48:04
Just a quick overview of this project: essentially it is nothing more than your average generic ERC20 token, but then a token on the WAVES blockchain. Note that issuing tokens on the WAVES blockchain is even easier and cheaper than it already is on Ethereum. To Papercoin there is not any additional value than anything that WAVES coins already can offer. The whitepaper explains mostly the basics about blockchain and cryptocurrency in general, and has very few comments on what Papercoin is going to offer as value added. It says that is supposed to be a coin for paper, smoking items and tobacco, but it doesn't explain any problems that Papercoin would solve, that wouldn't be solved by any other cryptocurrency (like bitcoin). The whitepaper says that their vision is: "Our vision is to implement sales and shipments of physical and online smoking stores on the blockchain of WAVES." However if we look at the roadmap on the website, not any of those initiatives are featured, only things like website, whitepaper and roadmap updates and exchange listings. They don't even have their own wallet; the wallet they "offer" is just the WAVES wallet on which you can transact with the token.
No team, no visible developers, no Github, just a worthless token that aims its poor communication at crypto newbies. There is no sign of an ICO and airdrop tokens are available through a faucet (however apparently it is available on some small exchanges, so people could theoretically fall victim to buy this vaperware token). I have not looked into the airdrops aspect at all, because I don't wanna waste more time on this, and I recommend anyone else to do the same (not financial/investment advice ofcourse as always). Shady as F*** in my opinion!
Dr. Doom posted on October 15, 2019 22:04:23
I can't believe this even-worse-than-any-other-useless-ERC20-scam-token has the ability to have more than even 2 shillers, which I can't even imagine anything else than them just being the team in question themselves shilling their BS token.
I believe there is not much more to add after the other REAL reviews here, but I can say this:
- website and online presence, must have cost as good as nothing looking at the quality of it
- to issue the token costs 1 WAVES coin, which has been worth under $4 this whole year.
- Indeed the whitepaper definitely looks like a $5 expense on Fiverr.
And there you have everything the project actually consists of, which can also be achieved with a beginner level knowledge of wallets and cryptocurrency.
There are hundreds of absolutely dogsh*t tokens available in the cryptocurrency space that are still 100 times more legit and of any substance than this one! Let's not waste anymore of our precious time on this crap.
bullish posted on October 15, 2019 22:11:03
Come on guys, why do you think that coming here to shill a project together and only writing ~3 sentences each is a good idea? That just makes your project look terrible. In fact, now I wouldn't touch your project with a 10 foot pole because of your little brigade.
Some other quick notes:
1) Waves coin, can make this even easier than ERC20 token, so barely any effort put into it.
2) It's for tobacco articles... what does that even mean and why the heck do they need a token for it??
3) Their website looks like a 10 year old designed it.
4) At least their social media presence exists and has been active, I can give them a little credit.
5) Still think the founders (whoever they are...no presence at all) are using this as a low effort way to scam newbies.
6) Their white-paper is an absolute joke. Talks about blockchain and crypto in general and looks like they paid someone on Fiverr $5 to make it.
TLDR: Stay away, far far away. I wouldn't even have looked into this project if it wasn't for the shills. You have yourselves to thank for this negative review.
Crypto Anonymous posted on October 15, 2019 22:14:23
Sorry not gonna put much effort into this; after skimming through the available information (which isn't much) I can only agree with the other critical reviews. These are the very worst projects that hurt the crypto eco system, because these are so cheap and easy to set up and try to catch unknowing newbies that have no clue and are easily mislead by their information. Hopefully those newbies will now also find this reviews page and think twice before parting of their hard earned money on this nonsense.
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