# The "Useless Ethereum Token"



## Brendan Burgess (19 Jul 2018)

I read about this in Which? Magazine.

https://uetoken.com/







Despite this they have received $148k and 310 Ethers so about $300,000 in total.

*Wait… is this a joke? Is it a scam?*

Neither! This is real—and it's 100% transparent. You're literally giving your money to someone on the internet and getting completely useless tokens in return.

There are no “whitepapers,” no “products,” and no “experts.” It's just you, me, your hard-earned Ether, and my shopping list.


And apparently, it went up in value after its launch. 


Brendan


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## Brendan Burgess (19 Jul 2018)

Another bit from the article

John Oliver described cryptocurrencies as "everything you don't understand about money combined with everything you don't understand about computers"

Some callers to the Which? Moneyline have been left effectively holding gift tokens for a shop that will never open. 

Brendan


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## tecate (19 Jul 2018)

Brendan Burgess said:


> Despite this they have received $148k and 310 Ethers so about $300,000 in total......Some callers to the Which? Moneyline have been left effectively holding gift tokens for a shop that will never open.



There are irresponsible, irrational and downright stupid people who show up in all manner of areas.  Fools and their money are easily parted.  However, it would be inaccurate to assume that all projects are like this.  There are some brilliant people working in this space working on the raw technology.


Brendan Burgess said:


> John Oliver described cryptocurrencies as "everything you don't understand about money combined with everything you don't understand about computers"


For anyone who has not watched that segment, it's here.  It's absolutely hilarious but naturally very well researched.  It pokes fun at all the current flaws in crypto and I can't honestly disagree with any of those suggestions.


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## elcato (19 Jul 2018)

Reginald Perrin springs to mind


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