- Co-Founder Vitalik Buterin said BITE is [expletive]coin.
- Vitalik Buterin says [expletive]Coins have no redeeming cultural or moral value.
- BITE investors will likely lose most of their capital, according to Buterin.
Ethereum co-founder Vitalik Buterin explains BITE, a community token built on Binance Smart Chain (BSC): [expletive]coin. Social Aggregating and discussing his news and postings on his Reddit platform, Vitalik said that his BITE and most of the coins discussed on the Reddit forums are those that redeem cultural or moral values. not classified as a token.
$BITE and most other coins discussed on this forum are [expletive]It has no cultural or moral value and you can lose most of your money invested in the coin. I don’t fully endorse these projects.
Vitalik’s backlash against BITE comes just days after he reportedly dumped a large amount of tokens believed to belong to the same category.Popular crypto figure grossed about $700,000 [expletive]Coins comprising Cult DAO (CULT), Mops (MOPS), and Shikoku (SHIK), according to multiple reports.
The cryptocurrency community reacted to Vitalik’s token sale, with users investigating the reasons for the token dump. As expected, the price of the affected token dropped significantly after the sale as the ripple effect carried over as the decline propagated. Some cryptocurrency users have even suggested that the Vitalik dump could turn around and be a blessing in disguise as a related token.
Vitalik’s criticism of BITE seems to have had a similar impact on the token’s social capital. This has sparked a debate about cryptocurrencies, with some proponents suggesting that the price of the token could rise.
In a rather lighthearted mood, one of Reddit’s BITE supporters congratulated the Ethereum co-founder on announcing that he is now a member of the BITE community. A user welcomed his Vitalik, grabbed a bag of BITE tokens and asked to “enjoy the ride.”
Vitalik didn’t just consider BITE. [expletive]coin. He advised users not to invest in cryptocurrencies, warning that they could lose most of the money invested in the project. He used this opportunity to walk away from Token and, by extension, the project.
A post by Buterin warning against investing in Shitcoins like BITE first appeared in Coin Edition.
Watch the original on CoinEdition
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