NEW: Ethereum founder @VitalikButerin has told dog-themed memecoin creators to bark up another tree, moving trillions of tokens he was gifted.
A billion dollars worth of $SHIB was sent to an Indian COVID relief fund.
@zackseward reports
https://t.co/QtjkyOXpC3
@vonRunte Itβs the case with most coins to a certain extent, the main part I take issue with is that new coins market themselves as having the next doge trajectory when theyβre set up to disappoint like Reddcoin et al
The key to making a shitload of money off an altcoin is to be there early but making new coins with that sole intention (cough: $SHIB) is about as close to a pyramid scheme as you can get
@vonRunte When these new coins have like 50% of their supply being held by a few wallets (the creatorsβ) theyβre clearly just trying to market the coin to antsy inventors and sell it off once theyβre satisfied, crippling the value. Would hate to buy at the tail end of the hype train