Home Metaverse Vitalik Buterin chastises BITE, other shitcoins for having no ‘redeeming cultural or moral value’

Vitalik Buterin chastises BITE, other shitcoins for having no ‘redeeming cultural or moral value’

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Ethereum co-founder Vitalik Buterin has warned the cryptocurrency community about BITE and other unnamed assets being discussed in the r/Testingtesting62831 subreddit group.

Looking at the subreddit, I found that members frequently discuss BITE and other low-value meme coins.

Buterin said these assets were ‘sh*tcoins’ [that] It does not compensate for cultural or moral values. According to him, investors will lose most of their money by investing in these tokens.

“Most of the $BITE and other coins discussed on this forum are bullshit, do not redeem cultural or moral values, and will likely result in you losing most of the money you invested in them. .”

he Added:

“I oppose these projects to the best of my ability.”

BITE was one of the unsolicited altcoins Buterin dumped on March 7th. Cumulatively, these tokens earned him over $300,000.

Meanwhile, Buterin’s latest warning has taken a toll on Memecoin’s price performance: The token has fallen 27% over the past 24 hours, according to dexscreener. data.

Another developer sends 450 trillion unsolicited tokens to Buterin

Dingo deployers sent 50% of the total supply of assets (450 trillion tokens) to Vitalik Buterin’s public address on March 8th. datathe deployers have also burned 50 trillion of the token supply.

Blockchain analytics firm Arkham Intelligence reported the transfer and questioned the motives of the deployers. According to the company, Buterin recently sold unsolicited tokens sent to his address.

Dingo is an ERC-20 token designed to burn 10% of the tokens involved in every transaction. According to its website, the burn feature helps control overall supply and increase its value over time.

Its five-step roadmap indicated it was to reach 100,000 holders by the fourth quarter of 2022. But it only has 444. holder Press time now.

The website didn’t have detailed information about its use cases or other details. According to a tweet displayed on the Twitter page, the token was previously deployed on the Binance Smart Chain.

Tokens are available on the decentralized exchange Uniswap.

Posted In: Ethereum, People
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