Buterin doesn't care about the success of meme currencies. Here's what he thinks should be done!

On his own blog and as usual with his followers, Vitalik Buterin, co-founder and main developer of the Ethereum network, shared his opinion on cryptocurrencies and highlighted what should be improved regarding memes.

Memecoins would not pose a problem if they were linked to the concept of “positive sum” according to Vitalik Buterin

As meme coins enjoy great success, both in increasing their prices and expanding their communities, Vitalik Buterin shared his opinion on these coins in an article on his blog. Through his analysis, he highlights the opportunities missed by these projects and suggests ways to give them real value, beyond simple entertainment or speculation.

• 👈Read more: What are meme coins? Beginner's Guide to Meme Coins (1)

Vitalik Buterin expressed his desire to see better examples of meme coins appear in the future. On his blog, Vitalik pointed out that much of the community is upset by meme coins, sometimes referred to as "dirty coins", arguing that they harm the entire cryptocurrency industry which seeks to provide cases of real use and to meet real needs. .

According to Vitalik Buterin, memecoins would not pose a problem if they were linked to the concept of “positive sum”. He cites as examples GiveWell Inu and Fable Of The Dragon, which benefited from redistributing a portion of fees or donating tokens to charity, even though the projects are no longer active today.

Additionally, Vitalik suggests that meme currencies could find use in blockchain games, noting that games like Axie Infinity have allowed individuals in developing countries to participate in the gaming economy on the blockchain, creating streams of income that improves their quality of life around the world. . The real world.

• 👈Read more: What are meme coins? Beginner's Guide to Meme Coins (2)

Even “good” parts aren’t perfect…their problems don’t allow them to be good parts!

Notably, over the past few months, meme coins have been making a lot of headlines. Some of them have performed well, such as Dogecoin (DOGE), whose price has increased by 200% since February 2024. Others have managed to generate great enthusiasm within their community.

Although Vitalik Buterin sees no harm in seeing “more good coins”. However, he did not address the critical questions that come to mind when talking about the basket of meme currencies. Such as sweepstakes scams, price gouging, and projects that promise an unattainable future.

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In short, the profits made by some investors by investing in meme currencies cannot be ignored. However, we must not forget that the majority of investors suffered huge losses, due to the promises of creating a new Bitcoin or other illusions. There are also many new cryptocurrencies created with names associated with political movements or with names with racist connotations.