You're gonna grow up, you're gonna get old. All that glitter don't turn to gold. But until then, just have your fun. Boy, run, run, run - One Republic
Today I want to talk about two premium-level sh*tcoins. Sh&tcoins are no strangers to the crypto world. But, as times get weirder in the crypto verse these two sh&tcoins caught my attention recently.
Shitcoin #1: HarryPotterObamaSonic11Inu
This one is as classic as it gets. Are you tired of Shiba Ibu, Sonic, and Harry Potter coins? How about smashing them all together and putting Obama there for f*cks. There are coins in the crypto space that add real-world value like L1 or L2 tokens. Next, there are coins in the space that add no value like Doge or Shiba or Pepe. Now, we have coins that have reached such a high level of sophistication that they add negative value to the space. Speculation on meme culture at its best.
Three reasons why these types of projects add negative value:
- These coins are on speculative maximum with very less liquidity. High probability of rug pulls
- It takes attention away from important projects that are adding value to the space
- The insiders of the space take the opportunity to make a quick buck while harming newcomers to the space. A lot of innocent folks will lose money and never return to the crypto space because of these meme coins.
Shitcoin #2: Worldcoin
This one is a little hard to distinguish because it has all the big names attached to it - big-name VCs (A16Z, Koshla, CoinFund), Sam Altman the ChatGPT pioneer, and its glorious mission statement on how they want to offer everyone equal financial share and establish human identities. The only catch is that you give your eyeball information to a for-profit entity. Not Governments or World Economic Forum or United Nations but to a f*cking private company. How disgusting is that?
F*ck your basic right to privacy as a human. This sh*&*tcoin truly doesn’t belong in the cryptoverse as it compromises one of the most fundamental values of the cryproverse - privacy. Don’t listen to me, hear it from Vitalk himself in a recent blog post.
Some reasons why this project is a dirty scam from rich Silicon Valley:
- When investors are involved, there is always a return involved. Want to create a truly global human ID and give everyone equal access? Make it a public good governed by the people. Bitcoin, anyone? Not a f&cking corporate for-profit coin with gimmicky mission statements.
- Collecting eyeball and retina data. I mean WTF episode of cyberpunk is this? We have already seen how corporations handle our private data, do we really want them to handle our biological data?
- Who is really guiding and building this project? Sam got his hands full with AI sh*t. Just do a quick search and you’d be surprised if these folks do care about the crypto industry at all or if they are just Sam’s school buddies.
Anyway, opinions folks. Just humble opinions. Stay safe out there!