Vitalik Buterin's view on memecoins: seven practical functions beyond entertainment!
Although some people are skeptical of memecoins, Ethereum co-founder Vitalik Buterin firmly believes that memecoins are really useful in daily life, and he also listed seven reasons to support this view.
Some users, like Mathew Gould, founder of 0xDesigner and Unstoppable Domains, question whether memecoins have any practical value other than being fun and eye-catching, and think they have no practical use.
Some critics say that memecoins are just a way for people to have fun under inflation and economic pressure, and want to make money quickly. But Vitalik Buterin doesn't think so. He said seven practical uses of memecoins:
Reputation and identity symbol: Memecoins are like medals in online communities, which can represent your reputation or experience.
Cross-border small payments: Although memecoins are not designed for this, they are particularly convenient for small cross-border transactions because of their low value and easy transfer.
Reward content creators: On social media, memecoins are like tips or rewards, which can motivate people to create good content.
Prediction market: You can use memecoins to bet or predict things.
Privacy protection: Some memecoins allow you to trade anonymously and pay more attention to privacy.
Enterprise application: Memecoins can be integrated into zk validiums for some niche or experimental projects.
Community voting: In the memecoin community, everyone can use these coins to participate in governance and decision-making. #币安上线ZK #BTC☀️ #ethfi币
Vitalik also criticized the current trend of celebrities promoting memecoins, thinking that "just for the sake of making money" is not good.
He thinks that financial tools should be used to achieve valuable goals such as medical care, open source software, and art. Previously, Vitalik also spoke well of memecoins, thinking that they have potential social benefits, such as funding public projects and supporting some causes.
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