SHI…ba what?

OK, so I had cause this fine evening to look at what’s been going on with Shiba Inu token. I open up CoinStats and enter S-H-I…into the search bar, and I guess maybe I should have known this, but the app is currently tracking 27 different tokens trying to capitalize on the erstwhile success of SHIB, which itself of course was created in the hopes of riding DOGE’s coattails.

We’ve got ShibaVax, ShibaNova, Shibanaut, ShibaRamen, Shibmerican (possibly my favorite), ShibaCorgi, ShibaCock, ShibaChrist…and on and on, and I shit you not, only one of those is made up by me, and I predict even that one will be a real thing by next week.

What I want to point out is that not only is this a veritable shit-smorgasbord of asscoins…it’s also the primary raison d’etre for the existence of the Ethereum network. People pay exorbitant fees for the privilege of minting verifiable garbage, and for moving different bits of garbage around the network, to fuck witless crypto-larval “investors” out of their money.

Sure, there are a handful of decent ERC-20 tokens, but they mostly exist to support Ethereum by moving more turds, faster, or to “create wealth” out of thin air with some convoluted and very exploitable DeFi scam. That’s right, Ethereum can’t handle the load of toxic bowel-coins it farts out, so people create more of them to…help, I guess? It’s a self-replicating feedback loop of explosive diarrhea. SHIBx is not by any stretch the only gigantic bowl of feces. They’re everywhere. If not for these shitcoins, traffic on Ethereum would be low enough that Vitalik could sit at home and personally approve all transactions himself. There would be no congestion, miners would have no real incentive to complete blocks on the network, and let’s face it, ETH would be about 5 bucks per token, tops.

Ethereum is literally a shitshow. And yet we have so-called “analysts” saying ETH will go to $35K, and people on this sub blindly believing in its bright future, and recommending it to newcomers as a solid investment, with the same low risk levels as bitcoin. LOL. Good luck, bagholders.