{"id":9662,"date":"2025-01-25T14:34:26","date_gmt":"2025-01-25T14:34:26","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=9662"},"modified":"2025-01-25T14:34:26","modified_gmt":"2025-01-25T14:34:26","slug":"crypto-fun-or-bribery-vitalik-buterin-weighs-in-on-the-risks-of-politician-memecoins","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=9662","title":{"rendered":"Crypto Fun Or Bribery? Vitalik Buterin Weighs In On The \u2018Risks\u2019 Of Politician Memecoins"},"content":{"rendered":"
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After last week\u2019s memecoin frenzy, fueled by the US President\u2019s official token launch, the crypto community is split on the possible implications of Donald Trump\u2019s memecoin venture. Ethereum founder Vitalik Buterin shared his concerns about the potential negative impact and \u201crisks\u201d of these tokens.<\/p>\n

Politician Tokens: Sources Of Fun Or Vehicles For Bribery?<\/h2>\n

A week ago, US President Donald Trump took the crypto market by storm after launching his official token, TRUMP. The memecoin broke<\/a> all records for newly launched cryptocurrencies, reaching a trading volume of over $10 billion, an all-time high (ATH) of $75, and a market capitalization of $15 billion in less than two days.<\/p>\n

Nonetheless, the unprecedented launch raised concerns among the crypto community. \u00a0Many investors expressed skepticism, which intensified after seeing the token\u2019s allocation was revealed. According to the official website, only 20% of the 1 billion TRUMP tokens created would be available to the public, while the other 80% was allocated to the issuers.<\/p>\n

As a result, several community members have stated their doubts about the potential long-term implications of the TRUMP memecoin. Among these, Ethereum\u2019s co-founder, Vitalik Buterin, took X to share his perspective.<\/p>\n

On Thursday, Buterin revealed<\/a> his concerns about \u201cthe risks of politician coins,\u201d explaining that it\u2019s time to open a conversation about the industry\u2019s \u201cnew order\u201d:<\/p>\n

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Over the last year, we have been entering a new order. Now, the most powerful people in the world are cheering on the idea of anyone creating tokens for anything, at any scale. And so now is the time to talk about the difference between sugar-high short-term fun that is unwise to recommend to newbies, and long-term fulfillment and wealth-building.<\/p>\n<\/blockquote>\n

To the Ethereum founder, the conversation<\/a> should not be about \u201cfun is bad\u201d but \u201cthe fact that large-scale political coins cross a further line.\u201d He considers these tokens not to be a source of fun, with their harm contained in \u201cmistakes made by voluntary participants.\u201d<\/p>\n

Instead, politicians\u2019 tokens risk being \u201cvehicles for unlimited political bribery, including from foreign nation-states.\u201d After being inquired, Buterin further explained his position, stating that the risks of these cryptocurrencies come from being a \u201cperfect\u201d bribery vehicle, as it would not be necessary to send any tokens to give them money.<\/p>\n

He suggests that a person could buy and hold the token, which would increase the value of their holdings passively. As a result, this could allow deniability, which would be a risk to democracy.<\/p>\n

\"crypto\"<\/p>\n

Crypto Community Split On Politician Memecoin<\/h2>\n

Buterin\u2019s comments ignited a debate, with many community members disagreeing with his view. One X user considers that the Ethereum founder is \u201cmissing the point,\u201d as bribery already exists, and it would be \u201cbetter\u201d if it\u2019s visible on-chain.<\/p>\n

Another user noted that Politician tokens could \u201cdemocratize fundraising and align incentives with communities,\u201d adding, \u201cInnovation shouldn\u2019t be dismissed because it challenges old systems.\u201d<\/p>\n

Recently, CrpyotQuant\u2019s CEO, Ki Young Ju, shared a similar perspective. As reported<\/a> by Bitcoinist, Ju considers that Trump \u201copened the era of memecoins,\u201d as celebrity tokens are just one of the forms memecoins can take.<\/p>\n

\"crypto\"<\/p>\n

He asserted that it was worth considering how to make the most out of them and suggested that President Trump could potentially use those holding his cryptocurrency as a \u201cpowerful community base for collective actions.\u201d<\/p>\n

Ju also noted that these tokens\u2019 value will depend on what the figure attached to them does, concluding that the ongoing wave seemed \u201cunstoppable\u201d until 2028.<\/p>\n

\"crypto\"<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

After last week\u2019s memecoin frenzy, fueled by the US President\u2019s official token launch, the crypto community is split on the possible implications of Donald Trump\u2019s memecoin venture. Ethereum founder Vitalik Buterin shared his concerns about the potential negative impact and \u201crisks\u201d of these tokens. Politician Tokens: Sources Of Fun Or Vehicles For Bribery? A week […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-9662","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9662"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9662\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}