World of Tanks Cryptocurrency Launched Soon

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Source: https://bitcointalk.org/index.php?topic=502691.0

Thanks to player nufnuf for bringing this to my attention.

Hello everyone,

this is not something I understand to be honest, so I will be brief. There is a “World of Tanks” cryptocurrency going “live” in a few days, called Wotcoin. It is using World of Tanks logo and the person producing it is stating that it is “by gamers for gamers”, but… Wargaming has nothing to do with that. From what I gathered, the plan is basically for this person to act as a conversion house and buy gold from Wargaming for real money using gifts. How the hell would that work without them bleeding money I have no idea, but I am pretty sure it’s not solid business.

Furthermore, the cryptocurrency is using World of Tanks logo and I am pretty sure this is illegal, there will be probably some lawsuits and all that.

Generally speaking, I don’t understand cryptocurrencies and when I don’t understand something, I don’t trust it. Same goes for Bitcoin really. If you do know how it works and make money off it, good for you, guys. But I certainly won’t even try.

28 thoughts on “World of Tanks Cryptocurrency Launched Soon”

  1. crptocurrency is basically a ponzi scam. It offers no real value other than its price tag. It is heavily manipulatible and is definately not a currency that helps the world.

    • Because “buy gold from us – its cheaper!”
      Then comes the chargeback.
      BAM – ban and pay-up again to unblock account :)

      • Bitcoin was a real attempt to make an online currency and was worth throwing 50 euros at if you could afford it to see where it went in the early days. With Bitcoins there is a real market where you can cash in for real money and because it is volatile money can be made just buying and selling. The rule is do not dick around with this stuff if you do not understand it and because it is so volatile don’t risk more than you can afford to loose.

        This WTFcoin crew by using the WoT logo they have booked a place in a shallow grave.

        • Bitcoins are mostly useful in money laundring, speculation and other shady business like collecting the ukash virus ransom.
          You’d end better giving this 50€ to chairty, e.g. Veterans Day.

        • Hence the fun and games when someone “hacked” 17 million out of it..

          …. an unhappy drug dealer does not make for good bed-fellows…

    • Bullshit. Social security is a ponzi scheme. Cryptocurrencies, on the other hand, range from scam (i.e. fiat equivalent, just with different profiteers) to solid-if-not-devoid-of-imperfections monetary vehicles.

  2. bitcoins and similar currencys stinking from the core, i won’t even thinking using such crap

  3. Makes not sense for me to use good money to buy other money to buy things…like WoT credits…oh wait….

    • Its so hard to buy stuff from WG with money – lets use virtual money you can get for real money so you can get WG stuff.
      What scammers were smoking?

  5. Certainly when they are launched the cryptocurrencies are ponzi-like. Bizarrely though once fairly mature, like Bitcoin, that element disappears as supply is limited.

    But all these new ones are really about pickign a know brand and hoping they get soem mugs to buy in as they will not be around in a year or so.

  7. This Crypto? Yeah, Scam most likely and WG will probably force them down. Some of the big cryptos though are as stable as some fiats, they are just far more accesible to the costumers, and still need either real money or time to mine up. Several sites and places around the world use them for alternate currency, and things like Dogecoin are marvelous. Say you liked a comment on Reddit, you can use a bot to tip them some of that, it’s was around the value of the South Korean currency. And you can fractionate each Dogecoin like tiping a comment with a quarter or even less. Or like they did, use it to help the Jamaican boblsed team for the past Russian Olympics.

    Fiat and Cryptos are both based on the same thing, not gold, just trust. Russia can have a shitton of gold, but the Rublos are going down with the mess in Crimea. Cryptos can go down if they are small enough and someone with enough money decides to screw them over…once they grow enough they become somewhat stable. They are no Euro, but they are far more reliable than the Zimbawean currency.

    • I’m missing the “/sarc” tag where you call fiat currencies “stable”. You might want to recall that pretty much all fiat currencies today have an inflation *target*. Read that again.

  8. One of the ideas behind Bitcoin is to free online transactions from middlemen e.g. banks, paypal who charges you a fee for every transaction, currency conversion. This, on the other hand, is the middleman.

  9. Bitcoin is an interesting currency, and has a lot of supporters – but I personally don’t think it’s a viable replacement currency.

    The technology is mostly solid – except for the fact that verifying transactions requires a lot of disk space, which is spiraling out of control.

    And from an economics standpoint – I’m not sure it solves the right problems. I’m not sure the world is really clamoring for a pseudo-anonymous, non-government-backed, mostly-unregulated, tends-towards-deflation currency.

    It’s also impossible to recover bitcoin if you lose it. If hackers break into the PC with your wallet on it and steal all of your bitcoins from it, there’s no reversing the transactions. Also, if your wallet is lost or destroyed somehow, there’s no way to recover its contents.

    Most people want protection for their money, because it’s something that literally has value. They want to have guarantees and protections. Bitcoin, with its inability to reverse transactions or protect from theft, is the opposite of that.

    Sometimes people say getting rid of “middlemen” is also something bitcoin has. Problem is, People WANT “middlemen” like banks, because the middlemen can often offer things like insurance and fraud protection. There’s an entire competitive industry around “middlemen.”

    And it’s not true that “middlemen” are out of the equation anyways: Witness the fall of Mt. Gox, a middleman for bitcoin.

    I should also note that while real currency uses things like a fractional reserve to help grow itself, Bitcoin uses a lottery system. Which benefits a single person more than anybody else. Which IMO is not a way to put new currency into a system. Suddenly, there’s a new millionaire – for no reason other than this person has a large, beefy system designed to buy millions of lottery tickets. It’s extremely spiky and uncontrolled, and absolutely floods one person with the currency. IMO this is not a good way to put money into a currency system.

    And it seems there’s now an explosion of silly currencies – dogecoin and the like. I’d say this WoT cryptocurrency is in that category. It’s actually pretty silly.

  10. There is currently a cryptocurrency “boom” going on right now. There are coins for everything popping up, including some other games. They are pretty much all worthless, other than bitcoin, litecoin, and maybe a couple others that offer some unique technological feature (but this one is just a clone). Don’t buy into this; your money will get eaten up by the people who know how to manipulate the coin market.

  11. I wont be messing with SHITcoin or CRAPtoCURRENCY.
    something similar fucked me allready.
    So… no, thank you.

  12. Nothing new there, people with company cellphones been selling cheaper gold for quite some time now, nothing illegal involved.