{"id":498670,"date":"2024-04-01T07:43:54","date_gmt":"2024-04-01T07:43:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=498670"},"modified":"2024-04-01T10:46:34","modified_gmt":"2024-04-01T10:46:34","slug":"arthur-hayes-says-meme-coins-can-be-a-net-positive-for-blockchains","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/arthur-hayes-says-meme-coins-can-be-a-net-positive-for-blockchains","title":{"rendered":"Arthur Hayes Says Meme Coins Can Be A Net Positive For Blockchains"},"content":{"rendered":"<p>Arthur Hayes has dismissed criticism labeling meme coins as &ldquo;stupid and valueless,&rdquo; saying the tokens can have a positive value on the blockchains they are created on.<\/p>\n<p>While <a href=\"https:\/\/www.youtube.com\/watch?v=VGlCevPdFKU\" target=\"_blank\" rel=\"noopener\">speaking<\/a> with the CEO of Real Vision, Raoul Pal, the BitMEX founder said blockchains supporting the meme coin culture would have value in the long run.<\/p>\n<p>Hayes opined that the recent boom in Solana was influenced by meme coins. The Solana blockchain has recorded an uptick in activity after a meme coin frenzy driven by Dogwifhat (WIF), BONK, and Book of Meme ($BOME).<\/p>\n<p>The increased activity makes the chain attractive to blockchain developers seeking to launch projects on a network that has users.<\/p>\n<p>&ldquo;You can poo-poo these things as stupid and valueless, but if it brings attention, if it brings more engineers to the space, then it&rsquo;s positive value to the chain itself,&rdquo; he argued.<\/p>\n<h2>Meme Coins Should Become More Useful and Charitable<\/h2>\n<p>Ethereum co-founder, Vitalik Buterin, recently opined that while he had zero enthusiasm for meme coins, these projects should work on being useful and charitable.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">What else could memecoins be?<a href=\"https:\/\/t.co\/8ZVhwkVwLy\">https:\/\/t.co\/8ZVhwkVwLy<\/a><\/p>\n<p>&mdash; vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1773636178236895583?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Buterin, meme coins should be created for charitable causes or work on having utility in use cases such as in gaming.<\/p>\n<p>However, the co-founder of Solana Labs, Anatoly Yakovenko, believes that the logic behind meme coins donating towards a good cause as penance is &ldquo;nihilistic.&rdquo;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Memecoin are bad, but if they donate to a public good then they have paid a penance for the bad thing.  <\/p>\n<p>I find this logic to be nihilistic. <\/p>\n<p>I&rsquo;d rather see people that hodl a memecoin change their behavior and go do something good, like walk dogs at a dog shelter and encourage&hellip;<\/p>\n<p>&mdash; toly &#127482;&#127480;| bip-420 (@aeyakovenko) <a href=\"https:\/\/twitter.com\/aeyakovenko\/status\/1773842554334904548?ref_src=twsrc%5Etfw\">March 29, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Yakovenko says instead of donating towards charitable causes, meme coin holders should work on changing their personal behavior.<\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/visit\/dogecoin20\" target=\"_blank\" rel=\"noopener nofollow\">Dogecoin20<\/a>, a newly launched meme coin, is working towards having a positive impact on the community with its &ldquo;Do Only Good Everyday&rdquo; principle. The meme coin, whose presale has raised over $10 million, depleting its presale tokens as it leverages the influence to support charitable initiatives, community projects, and noble causes.<\/p>\n<h3>Also Read:<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/apewifhat-price-prediction-apewifhat-soars-127-but-is-this-solana-meme-coin-rival-the-next-cryptocurrency-to-explode\">ApeWifHat Price Prediction: APEWIFHAT Soars 127%, But Is This Solana Meme Coin Rival The Next Cryptocurrency To Explode?<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/newest-solana-based-meme-coin-with-unique-presale-can-it-be-the-next-big-thing\">Newest Solana-Based Meme Coin with Unique Presale &ndash; Can It Be the Next Big Thing?<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/oscar-ramos-analyzes-this-new-low-market-cap-crypto-gem-dogecoin20-presale-review\">Oscar Ramos Analyzes This New Low Market Cap Crypto Gem &ndash; Dogecoin20 Presale Review<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div class=\"inContentProviderSingle--wrapper\">\n                            <div class=\"container\">\n                                <div class=\"row mb-lg-3\">\n                                    <div class=\"col-12 col-md-8\">\n                                        <p class=\"inContentProviderSingle--title\">Most Searched Crypto Launch - 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