The Memecoin Grift and How It Threatens Ethereum Culture

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In Ethereum there are no police. That means the community must come together to find solutions to the degens giving crypto a bad name, polarpunklabs argues. Opinion

The ceaseless and cynical pumping of tokens devoid of value is an existential threat to Ethereum’s reputation.

Paul Dylan-Ennis is a CoinDesk columnist and lecturer in the College of Business, University College Dublin. And those Spaces! My word. Memecoin Spaces seem to be required by law to have the most obnoxiously loud host, for no apparent reason. At least three of the speakers, sporting equally terrible NFT investments as their PFPs , will admit to several misdemeanors over the course of an hour. At least 75% of the audience has bought something from Supreme and made a loss on it.

In Ethereum there are no police. In a decentralized, permissionless culture there is nobody who can sanction you like the law might IRL

 

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