Ethereum founder Vitalik Buterin expressed his views on meme coins in a post yesterday (29th), stating that a good meme coin should be fun and have a constructive purpose, rather than solely benefiting the project team internally or causing long-term concerns for investors.
(Background:
Chinese community in chaos! Meme coin $ENTS raised 20,000 BNB and “plunged on opening”, project team VT: Sorry, the money was scammed..
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(Supplementary background:
Decoding meme coins: How to find 1000x coins, FOMO propagation mechanism, impact on public chains?
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Table of Contents:
Why do people pursue meme coins?
What are the possibilities for meme coins?
Opposing fraud
Meme coins, such as Doge and Floki, have undoubtedly become the focus of attention in the crypto field from the beginning of this year. From the recently launched Solana ecosystem meme coins BOME and SLERF, various memes have received enthusiastic support from the community.
Just yesterday (29th), Ethereum founder Vitalik Buterin specifically discussed his views on meme coins. Let’s take a look at his perspectives on meme coins.
Why do people pursue meme coins?
Vitalik Buterin first mentioned that while meme coins have created many rags-to-riches stories, they also make people feel uneasy. However, he then pointed out that people actively participate in meme coin games for the following reasons:
At the same time, Vitalik Buterin also pointed out that meme coins may not directly benefit participants:
What are the possibilities for meme coins?
Since meme coins have negative effects, how can they be improved? Vitalik Buterin pointed out:
Vitalik Buterin used the blockchain game Axie Infinity as an example, stating:
Opposing fraud
Lastly, Vitalik Buterin concluded that he is against meme coins that promote authoritarianism, scams, Ponzi schemes, or anything that excites people in the short term but causes long-term concerns. He emphasized that he values people’s enjoyment and hopes that the issued currency can go with the trend rather than going against it.
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