MemeCoins becoming the new Shitcoins

[teosanru]

We all know after the Doge pump recently, numerous coins have hit the market claiming to be the next doge and most of them either have dog in their name or are having Elon in their name. Some like Shiba Inu even managed to pierce in the top 50 Cryptos and is now listed on Binance too. Utility? None. Thousands of investors or I should say normal people like us might have made 20-50x money with these coins. But an Equivalent number of people lost everything last night after what Vitalik Did. Here is the snapshot of the dog market after what Vitalik did:



Surprisingly Vitalik is now being seen as a traitor who has duped so much money of innocent investors. But up to what extent do you think he is wrong in doing so? I think he is absolutely right. These coins are just spoiling the name of blockchain and cryptos by making it a get-rich-quick scheme.

[Engineer7]

What did Vitalik do? I know since couple of days that creaters sent for burning ideas tokens to Vitalik adress. Did he misused this idea ?

[dogtana]

You forgot Space Corgi 

[Slow death]

greed is blinding people to the point of starting to turn this cryptocurrency market into a circus of clowning, in the past we had altcoins scam obvious, but nowadays we have seen altcoin that is a shame, what is the sense of people being investing in these meaningless altcoins and with dog's name? Did people forget that money is precious and that this market is dangerous? is the 20X profit madness so big that it makes people have frozen brains? It is unbelievable that so many people put money in some altcoin just because it has a dog name

What did Vitalik do?

I would also like to know

[Blitzboy]

what a tragedy to F0 investors ( new investors who just come across the cryptocurrency for a few weeks). Things will get tougher because I see no bright future in bitcoin and it is now being traded below $50000. I have told my friends not to invest in memecoin and now, they might be regret not listen to me

[blackened515]

Why are every ones against memecoins, everything has their own season of trending, so the same way of DeFi projects did, I know when there were thousand of DeFi projects in the cryptocurrencies system but some of them are dead today, haven't you asked yourself why Binance listed SHIB, on the exchange, I don't call them and can never call them shit coin because they exhibit and have good trading volume, shit coins never had good volume, they only rise and dump at the same time and die forever with poor volume.

All the reputable exchange are opening their hands on listing there memecoins in their exchange, gate, Okex, huobi, mxc, all have these coins on their exchange.,so why should they die out.

[teosanru]

greed is blinding people to the point of starting to turn this cryptocurrency market into a circus of clowning, in the past we had altcoins scam obvious, but nowadays we have seen altcoin that is a shame, what is the sense of people being investing in these meaningless altcoins and with dog's name? Did people forget that money is precious and that this market is dangerous? is the 20X profit madness so big that it makes people have frozen brains? It is unbelievable that so many people put money in some altcoin just because it has a dog name

What did Vitalik do?

I would also like to know

Most of these SHITCOIN/ MEMECOINS had burned 50% of their supply and worked on a deflationary model to increase their prices. For purpose of burning the supply they chose the address of Vitalik Butterin as which address could be more trustworthy than his? So every coin almost burned 50% of their supply by sending it into Vitalik's Ether Address.

Vitalik Played a masterstroke. For whatever reasons he donated all this supply to the INDIAN CRYPTO COVID RELIEF FUND. The Total Amount of donation at yesterday's price before the crash was around 1 Billion$.  Now this supply which was expected to be locked is into the market again and Most probably the fund will realize it soon. Now when this supply would be realized into fiat for actual usage we won't get enough demand at the time of swap or selling as 50% of the supply would be on sale. This means price would go further down or basically rock bottom.

Why are every ones against memecoins, everything has their own season of trending, so the same way of DeFi projects did, I know when there were thousand of DeFi projects in the cryptocurrencies system but some of them are dead today, haven't you asked yourself why Binance listed SHIB, on the exchange, I don't call them and can never call them shit coin because they exhibit and have good trading volume, shit coins never had good volume, they only rise and dump at the same time and die forever with poor volume.

All the reputable exchange are opening their hands on listing there memecoins in their exchange, gate, Okex, huobi, mxc, all have these coins on their exchange.,so why should they die out.

DeFi were the biggest contribution to crypto society they had a utility that they gave to the community. Similarly even NFTs gave the idea of cryptographing digital assets. Which contribution to society do Memecoins make except for bringing disrepute? Exchanges would never hesitate in listing any coin. For them, any coin which has Market Cap and can give them fees is a good coin. For them, it's not a matter of utility.

[Quidat]

And this is why people should really be careful on dealing with new things specially if its been hyped and we know the current condition of Doge in terms of popularity
and recognition as of this moment and its normal that we would see these new things that pop out like mushrooms and hoping that they could get some investors
or the ones who would bought these coins for the hope that it would really make them rich but just like what others said
that this is just good for money grab and theres no relevance on these projects existence.

[tabas]

Surprisingly Vitalik is now being seen as a traitor who has duped so much money of innocent investors. But up to what extent do you think he is wrong in doing so? I think he is absolutely right. These coins are just spoiling the name of blockchain and cryptos by making it a get-rich-quick scheme.

I'm not defending Vitalik but they should know that investing in meme coins is considered very high risk. They should look also at what Elon did, with his tweets, the market is changing a lot and it won't always be a boom for the market.
It's becoming a strategy and norm that everybody should invest in meme coins because of what Elon did but it's always the discretion of investors that we should all behave and be aware of what we're investing.

[Joel_Jantsen]

We're coming to an end boys! The good old days of innovation and fun are gone. It's all Elon's fault and sheep who follow him blindly. I wish there was a consensus on who can create a coin to stop trolls from getting rich by making a Elon Coin. Btw you sure Elon didn't create that coin himself in the Tesla factory?

[bittick]

Exactly, and I can't see why vitalik was branded a traitor meanwhile the devs of those shitcoin intentionally sending 50% of total supply to vitalik's address to get exposure. Pretty ridiculous i would say to the community of these shitcoins.
Now it seems when these coin going down so many people trying to blame someone else for their mistake while it's 100% obvious why they invest to such coin in the first place if they don't want to lose their money

Why are every ones against memecoins, everything has their own season of trending, so the same way of DeFi projects did, I know when there were thousand of DeFi projects in the cryptocurrencies system but some of them are dead today, haven't you asked yourself why Binance listed SHIB, on the exchange, I don't call them and can never call them shit coin because they exhibit and have good trading volume, shit coins never had good volume, they only rise and dump at the same time and die forever with poor volume.

All the reputable exchange are opening their hands on listing there memecoins in their exchange, gate, Okex, huobi, mxc, all have these coins on their exchange.,so why should they die out.

because meme coin is just money grabbing, rug pull, and lies. Might as well brand it a pump and dump coin because that's exactly what these meme coin did.

[lienfaye]

Its risky to invest in a coins without utility and just driven by the social media to gain popularity. Because if something bad news came out they will nosedive making it hard to recover unless there's a strong community supporting it.

What did Vitalik do? I know since couple of days that creaters sent for burning ideas tokens to Vitalik adress. Did he misused this idea ?

I think its because he donated $1 billion worth of shiba inu to indian crypto relief fund, it cause panic to some investors.

[teosanru]

Surprisingly Vitalik is now being seen as a traitor who has duped so much money of innocent investors. But up to what extent do you think he is wrong in doing so? I think he is absolutely right. These coins are just spoiling the name of blockchain and cryptos by making it a get-rich-quick scheme.

I'm not defending Vitalik but they should know that investing in meme coins is considered very high risk. They should look also at what Elon did, with his tweets, the market is changing a lot and it won't always be a boom for the market.
It's becoming a strategy and norm that everybody should invest in meme coins because of what Elon did but it's always the discretion of investors that we should all behave and be aware of what we're investing.

Obviously one definitely should defend Vitalik. It's Elon Musk who is being insane and pumping and dumping every Crypto as much as possible. Talking about people, the herd would anytime be crazy for money no matter which year we are in. Whenever you tell someone I can make your money 2x 3x there ears are wide open to hear you anytime.

We're coming to an end boys! The good old days of innovation and fun are gone. It's all Elon's fault and sheep who follow him blindly. I wish there was a consensus on who can create a coin to stop trolls from getting rich by making a Elon Coin. Btw you sure Elon didn't create that coin himself in the Tesla factory?

I don't think so Joel. I think in some time probably around the next bear run these get rich quick people would lose money and then would not enter crypto markets and then people like Elon Musk would not have that much impact on them. Just like McAfee who was very active in 2018 has no impact today.

[Scripture]

Most of the scalpers are rushing buy memecoins because of its current hype and they believed to make easy money from that project, those projects are called shitcoins because they have no function at all in this market aside from the hype. I do buy some and make money as well, whenever the trend is its ok to ride for a while and make money but of course there’s still risk.

[Hypnosis00]

Well, it wasn't to wonder why it goes like that, they'll going to pump and later on, they'll be going to sleep forever. Because without Bullrun, I don't know if there is someone who has seen them.

As the crypto market growing and keep spreading, many people would like to create meme coins for fun and looks like many innocent investors had fallen into that. Maybe we have to add this category for MEMECoins/projects like how ICO/IEO, Defi, NFT made so we are confident that they can't get a victim anymore.

[makishart]

What did Vitalik do? I know since couple of days that creaters sent for burning ideas tokens to Vitalik adress. Did he misused this idea ?

Vitalik was selling it to be used as donation funds and the community was so angry caused by vitalik was creating an instant dump and he was robbing a lot of ethereum from the liquidity pool on uniswap. I think that you are missing this event dude and the price goes down so hard caused by vitalik.

[brooksby]

Exactly, and I can't see why vitalik was branded a traitor meanwhile the devs of those shitcoin intentionally sending 50% of total supply to vitalik's address to get exposure. Pretty ridiculous i would say to the community of these shitcoins.
Now it seems when these coin going down so many people trying to blame someone else for their mistake while it's 100% obvious why they invest to such coin in the first place if they don't want to lose their money

Why are every ones against memecoins, everything has their own season of trending, so the same way of DeFi projects did, I know when there were thousand of DeFi projects in the cryptocurrencies system but some of them are dead today, haven't you asked yourself why Binance listed SHIB, on the exchange, I don't call them and can never call them shit coin because they exhibit and have good trading volume, shit coins never had good volume, they only rise and dump at the same time and die forever with poor volume.

All the reputable exchange are opening their hands on listing there memecoins in their exchange, gate, Okex, huobi, mxc, all have these coins on their exchange.,so why should they die out.

because meme coin is just money grabbing, rug pull, and lies. Might as well brand it a pump and dump coin because that's exactly what these meme coin did.

I agree and those who believe they should buy one of those coins from that list should also be able to lose it all. Vitalik all spent it on charity. I think one problem is also that many of the coins are ETH based and spam the blockchain when trades happen, hence bring the transaction fees up. It was right what Vitalik did. Now the money goes to people who need it more. Blame the devs who sent the coins to Vitalik, not Vitalik.

[adaseb]

What vitalik did was genius. It benefitted the Covid relief fund AND finally the transaction fees came back down. It was 300-400 Gwei during all this SHIB pumps and now its at less than 100 Gwei. Still expensive to send ERC20 tokens but cheap for regular ETH transfers.

It was getting out of hand and basically people really shouldn't be investing in this because its not an investment. Its a gamble pretty much. Maybe a guy or 2 got rich off it but most people will end up holding a bag that goes -99% like in late 2018 and early 2019. This is why this crypto bubble seems like its going to burst soon.

[bittick]

I agree and those who believe they should buy one of those coins from that list should also be able to lose it all. Vitalik all spent it on charity. I think one problem is also that many of the coins are ETH based and spam the blockchain when trades happen, hence bring the transaction fees up. It was right what Vitalik did. Now the money goes to people who need it more. Blame the devs who sent the coins to Vitalik, not Vitalik.

Exactly, those coins that vitalik has sold also sent intentionally by the developer to vitalik address, those people who bought shitcoin at the peak price should only blame the devs and themselves. His address wasn't created for burning shit coin tokens, it was all his personal posession and yeah those coins are polluting the eth chain because they gonna execute swap smart contract address which usually quite heavy, imagine what kind of impact those buyers have when they buy very frequently because of the hype. i mean, atleast wait until july when fee resolved that one i can tolerate.

[kotajikikox]

We all know after the Doge pump recently, numerous coins have hit the market claiming to be the next doge and most of them either have dog in their name or are having Elon in their name. Some like Shiba Inu even managed to pierce in the top 50 Cryptos and is now listed on Binance too. Utility? None. Thousands of investors or I should say normal people like us might have made 20-50x money with these coins. But an Equivalent number of people lost everything last night after what Vitalik Did. Here is the snapshot of the dog market after what Vitalik did:



Surprisingly Vitalik is now being seen as a traitor who has duped so much money of innocent investors. But up to what extent do you think he is wrong in doing so? I think he is absolutely right. These coins are just spoiling the name of blockchain and cryptos by making it a get-rich-quick scheme.

That Shiba Inu is now climbing still up to more than 1200% increase?

and about the traitoring of Vitalik Buterin , what more about Elon Musk Dumping Bitcoin now saying that Tesla will not accept Bitcoin anymore?

Is this worth believing more? and what will be those listed coins above reaction in the next days.