Vitalik Buterin Attacks Sh*tcoins For Lack Of 'Redeeming Cultural Or Moral Values' — But It Backfires

Ethereum ETH/USD  co-founder Vitalik Buterin's latest stand against sh*tcoins hasn't exactly gone as planned. 

What Happened: It looks like his words didn't carry the weight he was hoping for: instead, he was sent even more of "shitcoins" he was trying to disparage.

In a post on March 9 on the r/Testingtesting62831 subreddit, Buterin described Bite BITE/USD and other sh*tcoins with “no redeeming cultural or moral value” and said it “will probably lose you most of the money you put into them.”

Buterin added, “ I anti-endorse these projects to the greatest extent.”

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Soon after making the post, Buterin was sent 250,000 BITE tokens, which are valued at $0.011. This means that this gift was worth $2,750.

Buterin went on a "shitcoin" selling spree on March 7, cashing out over $700,000 worth of tokens — including 3.4 million BITE tokens — for Ether. 

Price Action: At the time of writing, BITE was trading at $0.00035, up 1% in the last 24 hours, according to Benzinga Pro.

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