One of the benefits to high fees is the fact that it has a higher barrier to entry. This often times will keep the spam and junk out but in another way it greatly effects adoption rates. Ethereum fees as of writing this are currently at an all time high of $68.86 on average seen here.
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Ethereum Owner Dumps Meme Coins
This has been caused by more meme ERC-20 tokens being created and sucking up bandwidth in the system. What's become a recent crazy and seriously a lottery rush to make the next million dollar coin with no use case simply hype and speculation has lead to some seriously crazy times.
But Ethereum founder Vitalik Buterin want's none of it and has been selling off tokens that are sent to him. Many of these projects have premined tokens which are sent to people such as Vitalik hoping for them to promote it since they hold a stake in it. Instead of doing so he's selling it off and donating it to charities which use the Ethereum network.
By far I have to say this is one of the smartest moves ever and clearly tells his position on such things. Hype and fad tokens like this are flashy they come and go and end up wreaking house for a lot of people and only helping a few. For some reason a major portion of the population will simply invest in something with their seriously hard earned money at a very VERY slim chance to millions. I guess this is why people play the lottery instead of saving up.
These no use case coins while sure they rallying like crazy and then being dumped help some people but it's damaging to many more and to the network. Vitalik is pretty much saying cya to these worthless tokens which simply clone and don't advance or have any purpose besides being a pump and dump coin much like we saw in 2017 with pump and dump projects/presale of coins.
Are you into these hype coins/tokens? If so what ones and why?
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