Vitalik Buterin, the founder of Ethereum, said he had “very stressful” 2 days donating meme tokens sent to him. Talking about the most popular meme token, Dogecoin, he explained that DOGE is “one of the best investments he has ever made.”
Vitalik Buterin, India Covid Relief Fund in May and a few other places; Shiba Inu (SHIB)Current value with cryptocurrencies like Dogelon Mars (ELON), Akita Inu (AKITA) 1 billion dollars made more than donations. To Lex Fridman this week speaking Buterin explained how he made the donation.
Meme tokens sent to cold wallet
The founder of Shiba Inu thought that he would not be using the tokens when he launched the project, so that the total supply of SHIB half of Vitalik sent it to Buterin’s wallet.
The value of the tokens sent to it billion dollars Buterin, who saw that the money had exceeded it, decided to donate the money, thinking that it could be used for a good cause. But tokens to a laptop he kept in Canada was sent to the established cold wallet. Buterin was unable to travel to Canada due to Covid-19 restrictions.
Instead, he bought a new laptop where it was. Buterin, his private key half in himself, half in his family in Canada He wrote it on a piece of paper cut in half. Ethereum’un The founder called his family and asked them to read the part they had, and combined it with the numbers on his own paper and entered his wallet.
Transferred all the money elsewhere
Before trading with meme tokens, you can debit Ethereums and other cryptocurrencies in your wallet. to keep it safe all of these to a new wallet he built from scratch Buterin, who transferred her, described this process as follows:
“It was very stressful. I had to transfer all of my money, including 325,000 Ether, to a multi-sig wallet. There could have been a bug in the multi-sig wallet, I could have made a mistake during the transaction and lost all the money. I triple-checked the new wallet, even though I checked some of its code myself.”
Buterin, who then started trading with meme tokens, “I really didn’t know how much these would cost.” said. Because all these tokens were “worth $7 billion on paper”, but the market was “not liquid enough”, he was not sure how much of it could be sold.
That’s why Buterin, who first sells small amounts of meme tokens and then starts donating directly with meme tokens, is a gift to the organizations he donates to. “I hope they do well with them.” commented.
DOGE was “one of the best investments I have ever made”
The founder of Ethereum said he was “concerned” about how people, and especially the cryptocurrency community, would react to donations, but he was satisfied with the response.
The name speaking specifically to the Dogecoin community, Dogecoin’e His inspired dog said he “visited in Japan a few years ago” and has no issues with the Dogecoin community. Buterin also received $25,000 DOGE in 2016, which he recently reported. $4.3 million announced that he sold it and donated the money to GiveDirectly, and that DOGE was “one of his best investments.”