In what might seem like news straight from a dystopian future, a new coin emerged calling itself CoronaCoin and which has in the past 24 hrs gained tremendous attention for its crazy proposition.
As the name suggests, the coin gains its value by tracking the number of people dying from the CoronaVirus, which emerged from Wuhan Province in Chin a and has so far killed over 2,236 people.
Many users across Twitter and Reddit castigate the coin founders for their distaste but experts may find true value in the coin’s value proposition.
The coin’s website, coronatoken.org, states that the coin has three main value propositions namely:
- “Its Deflationary, Tokens are burned every 48 hours based on the number of INFECTED + FATALITIES reported on TheWuhanVirus.com.
- Its for charity, CoronaToken benefits COVID-19 relief efforts! We are going to donate 20% of the total supply of CoronaToken to the Red Cross!
- Its Fun, CoronaToken holders can play a fun game against other players to try and win more CoronaToken! This is coming soon, so keep an eye on our Discord for updates!”
The token is non-mintable and will be based on a starting value of the world’s total population as 7,604,953,650.
Rising Outrage Regarding The Coin
With barely 24 hrs online, the coin continues to receive negative feedback and this could jeopardize the manner in which regular people approach crypto currencies. Already, there is a high adoption cliff for regular people because they do not understand how crypto currencies work and approach it with a lot of caution. Adding such an approach on top of this suspicion will not look good even for other crypto currencies.
The emergence of Corona token may also be a sign that the core innovations and ideas in the crypto universe may have failed to reach mainstream thoughts and it may have bifurcated into more dark areas. What is to stop another coin emerging based on homicides or suicide deaths?
The founders of the Corona coin may have started it as a joke, but reactions to it are indications that there will always be clear reasons to avoid fringe coins.
