You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television.
Seriously, don't buy these tokens.
Second of its kind ICO
Let's be honest—everyone's tired of ICOs. They get hyped up for weeks, and then they launch and clog up the Ethereum network for days, Coinbase goes down for a while, and then “investors” see the new tokens lose most of their “value”. This ICO is going to be different.
The UET2 ICO transparently offers investors no value, so there will be no expectation of gains. No gains means few investors, few investors means few transactions, and few transactions means no Ethereum network lag—not to mention no depressing posts on /r/ethtrader about people losing all their savings!
Twice as many bonus tokens
Unlike the first uetoken, which only gave investors a 1 in 256 chance of receiving bonus tokens, uetoken2 offers every block a 1 in 128 chance of the bonus. That's twice as many chances to get even more useless tokens!
Might be secure, definitely not audited
The contract code for this ICO is copied from uetoken, and modified slightly to increase the chances of receiving a bonus. That code was written by a guy who learnt about Ethereum, Solidity and smart contracts over a weekend. What could go wrong?
Also, I definitely didn't have any smart contract experts look at the contract before I launched it. I mean, why bother? All the other ICOs go through weeks of auditing and they still end up with bugs and vulnerabilities in their contracts.
Guaranteed token value
Unlike with every other token sale on the market, I can guarantee here and now that the value of UET2 will not (in fact, can not) reduce during or after the ICO. Since these tokens aren't worth anything to start with, there's nowhere to go but up!
But remember—this is a completely honest ICO, which means I don't want anyone to mistakenly expect the value of the tokens to go up, either. They're called Useless Ethereum Tokens 2 for a reason.
The crowdsale begins on:
August 4th, 2017 at 2:00 P.M. UTC
(don't worry, I set a reminder on my iPhone)
and will run until:
August 11th, 2017 at 2:00 P.M. UTC
(or until I feel like ending it)
To participate in the UET2 ICO, just send as much Ether as you want to the UET2 token/crowdsale contract. Make sure you provide enough gas for the transaction—100,000 or so ought to do it.
0x1443616b940aea9fd52add2ebdc6966a4ac5f27d
The more Ether everyone contributes, the more tokens you get.
The base token distribution formula is very simple: for every 1 ETH you contribute, you'll receive 100 UET2, and if you contribute at least 0.01 ETH, you'll also receive an additional 1 UET2 for every Ether that's been contributed in total. Like this:
| Transaction | Ether sent | Total Ether sent | UET2 received |
|---|---|---|---|
| #1 | 1.000 ETH | 1.000 ETH | 101.000 UET2 |
| #2 | 3.000 ETH | 4.000 ETH | 304.000 UET2 |
| #3 | 0.005 ETH | 4.005 ETH | 0.500 UET2 |
| #4 | 0.500 ETH | 4.505 ETH | 54.505 UET2 |
Every block has a 1 in 128 chance of issuing bonus tokens.
When purchasing UET2, the smart contract will take a hash of the current block's coinbase, number, and timestamp. If the second byte of the hash is 0x00, the block becomes a bonus block. During a bonus block, the smart contract counts the number of bits set in the third byte of the hash and uses that number as a bonus multiplier.
Every UET2 purchase of at least 0.01 ETH worth during the bonus block will receive, in addition to the base distribution, an additional 100 UET2 per Ether multiplied by the bonus multiplier. That means that contributors have a chance of receiving a total of nine times the number of tokens they expected!
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.
Why are you doing this?
Who knows? Maybe it's because I lost money in the GDAX flash crash. Maybe I got inspired by the guy who crowdfunded the potato salad. Maybe I'm just way too bored and need a better hobby.
What can I do with UET2?
UET2 is a standard ERC20 token, so you can hold it and transfer it.
Other than that… nothing. Absolutely nothing.
(Seriously, don't buy this. Why are you even still reading these?)
Will UET2 be traded on any exchanges?
I hope so. You have no idea how much I hope so.
In fact, if it does get picked up by any of the major exchanges, I promise to use some of the ICO proceeds to constantly and incessantly manipulate the market.
Will there be more chances to buy UET2?
That's a great question! It totally depends on how the ICO performs in the beginning. If I don't make enough money to buy at least one flat-screen television, I'll probably keep the ICO open longer than initially stated.
How do I get a refund for the tokens I bought?
You're kidding, right?