Useless Ethereum Token (UET) ICO

Today cryptocurrency consultant Jeremy Ross tweeted this out today and it’s nothing buy hilarious:

This is indeed what makes us all love the cryptocurrency space: the humor it brings every day. The whole crypto community is strongly intertwined with internet trolling which makes more and more TV-show-worthy moments appear daily.

Considering Ethereum has a lot of publicity around it, especially considering the 2016 DAO hack and the ETH/ETC fork that followed it, there are people that love Ethereum and people that hate it. Same goes for the Ethereum founder, VItalik Buterin, who is often criticized for his decision to fork Ethereum, thus pissing off many cryptocurrency idealists (“if you revert operations how are you better than fiat then” etc.).

Naturally, a group of trolls went for the ultimate troll attempt and released their own cryptocurrency on the Ethereum network, calling it the Useless Ethereum Token (UET). Currently (Wed July 5) the coin costs $9.80 and fluctuates as all cryptocurrencies do:

fluctuating useless ethereum token (uet) price upon the ico

The website of the new cryptocurrency claims the following:

The world’s first 100% honest Ethereum ICO.
You’re going to give some random person on the internet money, and they’re going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television.

Seriously, don’t buy these tokens.

The creators of the website/coin then go on about how everyone is tired of hyped up ICOs on the Ethereum network and warn against rapid investing decisions. The whole thing just makes sense considering how many people are giving in to the hype and FUD, and UET serves as a reminder to everyone – be careful with cryptocurrencies! Make sure you invest amounts you feel comfortable losing, because this is a very risky investment space. It’s always a good idea to actually earn some coin rather then buy it, and use that as your trading funds.

After reading the UET CEO ask-me-anything thread on Reddit we got the feeling that such a coin has been long-awaited by the crypto (and especially ethereum-leaning) community, because many comments there are pure gold:

Let’s follow this new cryptocurrency, coin hustlers! Will it repeat DogeCoin’s success? Let’s find out – subscribe to our news list:

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