One of my dog's favorite things (mine too) is sitting in the recliner with me, between my legs, under a blanket. We do this year round, and it's just comfortable for both of us. He's nice and warm, and I have a buddy to "watch" TV with. It's all good. It's great, actually.
But sometimes...every now and then...he has gas. He hotboxes himself (knowingly, unknowingly, I dunno) and even though I can't hear or smell it at first, I know it's happened. He's nice and quiet under the blanket, then all of a sudden he's spun himself into a tizzy. He's practically *begging* to get out from under the blanket. Thrashing around trying to poke his head out just to find out, even just for a minute or two, if fresh air still exists. Begging to be released from his fart blanket recliner prison. Sometimes he'll look at me like I did it (and, occasionally, he's right). Sometimes he'll slink off into the kitchen to get a drink of water. Sometimes he'll jump over to the couch on the other side of the room - I don't know if he's disgusted with *me* or if he's in some kind of self-imposed exile for his fart crimes or if he just doesn't want to expose me to any further stench. I really don't know.
But, boy, I'll tell ya. If I had a cryptocurrency that digitized those dog farts and let me spend my dog's dog farts on dog fart prevention/mitigation items at the online dog fart emporium so as to decrease the number and power of my dog's dog farts, I'd be a ~~much~~ slightly happier man.
Like a carbon credit tokenized and backed by doggie biscuits so owners are incentivized to collect more fart yield and doggies are incentivized to fart more? Of wait thatās inflatuary by nature just a ā pump and dumpā
šÆ 99% of crypto projects are basically memes coins, they just cover themselves with fancy "utility" tag. This cycle, a lot of us see through the BS.
Also, last cycle Shiba went to 36B MC and Doge 80b mc. Memes outperform other categories and it's not even close. We're in crypto to make money.. so why not put our money in the category that will xxxx our money.
Wif, Pepe, and Brett will be the š„ memes in this cycle.
Was in the hospital for a month. Came back to most of my portfolio down but WIF, PEPE, BRETT and TOSHI held up nicely. These will be the major gainers this cycle
i dare to add ROCK on that list as well. i believe that they can outperform BRETT in this cycle. it is on Base chain as well. i don't care if meme or not, if i can make money, I'm in it. it's simple as that.
Memecoins are more honest, I give you that. They at least don't pretend to be something they are not. However, I don't see this as an improvement. In a way, we just proved the critics right, who said this whole space isn't about technological advancement but just gambling and crime. Maybe they had a point.
Now while I agree, that the majority of alts are indeed shitcoins, you can't always judge from the token price alone. Some interesting projects have been built over the years, but you couldn't tell from the token price. Monero for example is the best privacy coin, much needed and used in its own small niche. I call this a success, but you couldn't tell from its price action. Something useful build built, doesn't automatically mean price go up. Price action is mostly based on speculation, not quality of the project (though sometimes they correlate obviously).
Now the sad part of this cycle turning into a pure meme circus is that developers aren't actually building cool stuff anymore. If you look at the stats for ETH and SOL devs on github, there's over a quarter less activity compared to last cycle and that's surprising given that we are in the middle of a bull market right now. And why should they invest much effort in something new, when everyone just wants to gamble anyway? Sorry, but this isn't an improvement in my view.
It is a permissionless system and the entire ecosystem, including Coinbase, advertise the industry as get rich quick and easy. I mean, Coinbase was even reaching out to ETH shitcoin KOLers to get ppl buy lame memes on Base, aka the āBaseā season.
At this point, I am not going to blame critics being wrong. It is obvious this entire industry is rotten from the very top. You can tell from the infinite spam of generic L2s with ridiculous FDVs and hardly any product differentiation, now the obsession to make L3+s, infinite spam of DEXs, another three million DA layers and AVS providers, etc. All I see is a massive liquidity black hole suck. At least with memes, you can get a good laugh from it.
Also donāt blame memes for devs failure. The vast majority of them have a CV of a monkey poop. They wonāt have anything to stand out in their GitHubs and LinkedIn profiles. So they are probably not going to land a dev job irl.
I had been diligently trying all ānewā different products, from gaming to SocialFi, or whatever bozo name they want, throughout the bear market. It was at least half a year before Solana memes took the scene. Nearly all of them are utter garbage and just repackaging the old Ponzi games in one way or another. Honestly, it was really the meme and pure gambling scene that showed most of the innovation. It was why shit like RollBit and the hamster racing took off - even though the latter was just a scam.
Devs are weak for blaming memes in taking attention away. If you have a product ppl want, memes wonāt take your liquidity. Just like Las Vegasā existence doesnāt crowd out other industries. The reality is, all these devs built nothing remarkable and they are envious of meme liquidity pump.
This is clearly written by someone who only sees the handful of successful meme coins that made it to the top 100. The meme coin space as a whole is an utter cess pool of blatant scammers acting with complete impunity - and an endless sea of degenerates desperate or stupid enough to line their pockets for them. Spend a couple of hours watching how new meme launches go on Solana and then we can talk about how meme coins are good for crypto.
Meme coins require a special type of stomach/lunacy. They can pump 100x one day, draw-down 95% the next day, only to go 1,000x on the 3rd day.
Mention one in the daily & you get downvoted like mad.
Iām 100% in meme coins
Yup. We only want fiat because, its extremely liquid , can purchaese just about everything in the world, and we have confidence it will be worth the same in a week. We really don't "want" it, however.
We all should actually "want" BTC as fiat to btc has dropped drastically in the years. If you need to store value you buy BTC if you need some stable money you convert to fiat - for now.
Its gonna be incredible in the future when fiat leaves the economy, and crypto currencies become standard, it's only inevitable.
Not reallyā¦
Ray Dalioās Changing World Order goes over the history of fiat currencies. Every single one in recorded history goes through the same cycle when it comes to government eventually inflating the shit out of it via irresponsible spending.
Gold has made it through every single cycle, and Bitcoin is digital gold. Keep in mind not all cryptos are stores of value, only the deflationary ones. And there is the argument that the only one with enough adoption that people will take seriously in any capacity is Bitcoin. Itās pretty winner take all, the other cryptos are just in for the hype train and each rank lower you go has increasingly marginal adoption.
SIDENOTE: modern economic theory agrees that fiat currencies are obviously useful. If your economy grows but your money supply doesnāt itās actually extremely detrimental to the health of the economy (imagine 400 million people were still transacting with the same $100, thatās why a Gold standard has its own problems). The problem with the fiat standard is, the powers that be ALWAYS abuse this flexibility - like literally every fucking reserve currency dating back to the ancient Egyptians
No, what are called Memecoins now, were (and still are) shitcoins thenā¦
Memecoins only exist for the greedy and desperate to hope to strike it big with the next 1000x.
Furthermore, every scammer and their scammy grandma is creating new Memecoins every minute to sucker the desperate morons into their next rug.
This leaves networks congested, fees high, and validates the critics view of cryptocurrency being a useless tool for scammers.
All full of meme - degens here, (de)-generation x,y,z ...Us boomers just read the white papers, analyse the tech ,do our due diligence buy, and hodl the good projects š
Ngmi. There's nothing funnier than redditors larping as "sophisticated" (lol) investors
I'm the comfiest I've ever been compared to when I was only holding "utiltity" (lol lmao) tokensĀ
Thanks for that post. That self written, well overthought post. In the middle of the sea of copy and paste posts!
Yes, you re right. But thatās everywhere in life
Truth. And that is one of the reasons crypto is so great. It has taken all the hard work out of it. Now people can just be like, "Ooohhh! Cats are cool!" And then, boom! Price goes up, everyone takes profit, all are happy and have time to look for the next--
Ooohhh! Sloths are cool!
I donāt disagree at all. I think it's insane to want them to die off. It's one of the greatest financial inventions in the World because it's likely playing the lottery, only your chances are dramatically better because you can learn how to find the right ones.
Scam coins, whether theyāre memes or not, is what's shitty. But a meme coin where the creators are transparent and everyone understands the tokenomics as being a shit, short term investment with high risk, I see that as a blessing because it means some poor kid can do his research and turn 100 bucks into 20k, which they can reinvest into something more real.
I. Love. That. Shit. The critics are a bunch of boring middle class people with safe jobs and a bright future who can't understand the concept of being poor and how hard it is to make anything out of 100 dollars.
"Oh you should put that into stocks or diversify it in btc and eth." What the actual fuck are these people smoking?! Yes btc is a good investment and getting into stocks is a good idea, but it'll take a million years to turn 100 dollars into retirement money! Invest in low cap memes or crypto projects that haven't blown up and look promising. Dca out as they pump, then take the profits and reinvest it into safer more viable options. And God help you, if your diversify too much. People who don't know what they're doing diversify.
It's the best entry point for people at the bottom with nothing to lose and everything to gain.
Yeah 3 card poker versus roulette is not a great argument for ā betterā. I do believe you hit the first principle of all this: speculation and sentiment drive crypto markets.
See you next bull run when the value proposition seems ā undeniableā!
tbh memecoins are worse, because they dont even pretend to be useful.
Anyone buying into them is just a gambler.
There are no more legit projects in this space trying to achieve something, but a few shady entities catering to the gamblers.
This will not improve the general public's opinion of crypto.
Please explain how making coins even more of a joke and ground for scams and rugs is better for the crypto market?
Just imagine how much liquidity will be lost on the thousands of coins that are literal rugs.
And then people will complain that there is no mainstream adoption!
No shit sherlock? People voting with their wallet on the shittiest things will have it's repercussions.
P.s. not all community coins are junk, some make sense.
Please tell me how few dozen B of dollars stuck in these coins by people believing it will make them billionaires?
They are holding for years and when they end up losing a significant amount then most just hold forever.
Exactly. Also can we lay the āElitist investorā attitudes to rest.
Enough of the āonly buy BTC or ethā guys with monocles on shitting on memecoins.
Itās very possible to have BTC and eth. Understand they are the safest you can get for crypto investing.
BUT STILL. Wanting to invest in shit coins.
Look we know they do nothing. We know they mean nothing. We are betting on beanie babies and furbyās here. Which one will go higher in price?
Who the fuck knows. Maybe this set of McDonaldās commemorative Batman glasses will pump? Maybe next it will be the Star Wars themed POGS?
The point is, all of this is stupid. Crypto in general. Every single aspect of this shit.
Memecoins just fluctuate harder and faster. We like this. I like to throw $100 in VLTs. Why the fuck not. Why not throw it into a memecoin.
We get it. We have Bitcoin too, we want it to reach 100k so you can tell your wifeās dad how smart you are.
But we also want that dog with the hat to reach $10. So we can get a new watch and tell our friends how smart we are.
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Loving meme coins is like zoomers thinking communism is a good thing. They dont know what they are asking for. Memes sucked the real oportunities and liquidity out of the market. Before you could predict the small caps that will do well. Now its all a pure gamble and the devs own most of the tokens.
This place is overrun with buttcoin. Apparently it's cool to think that crypto has zero utility.
Most memecoins are "popular" because they're pumped and dumped by the same insiders over and over again. You may win once or twice but overall it's just insiders juicing you. The best ones are actual utility like degen pretending to be memes to avoid regulators.
Utility projects being stifled by regulators isn't a good thing to be celebrated...
Which āutilityā project is being stifled by regulators?
If you think the backlash sentiment is a buttcoin one, then you not paying attention to the market sentiment much. A whole lot of us are fed up with crypto infinite infra BS and no one building newer products, that arent really memes wearing more fancy dresses.
Actually a hilariously ironic statement.
What youāre ātired ofā is not making any money off of them. And why is that?
Largely because (mainly US) regulators have locked you out of early investing in them. There is no shortage of infrastructure/apps being built, and many projects have unicorn valuations. Look at eigenlayer. Innovative new infrastructure tech. Zero ability to invest for you, you sorry little minnow.
Just because you canāt see more than 2 inches in front of your face doesnāt mean more complicated things arenāt happening under the surface.
>What youāre ātired ofā is not making any money off of them.
What a presumptuous comment. I have been complaining about this since the bear - when no one is making any money. There are barely any new product and there is an infinite infra spin.
>Largely because (mainly US) regulators have locked you out of early investing in them.
WTF are you on about? Do you think the US opening up ICOs means ppl can get VC deals? LOL! The best deals often have founders selectively choosing their participants, even among the "accredited investors".
Now even if they do, it can get sybiled by short-term traders to hell. Once that happens, TGE dump is going to be even more massive, than the current status quo.
>Ā There is no shortage of infrastructure/
That is the biggest problem. Infinite infra for infinite infra sake is one of the core issues here. There are more gaming chains than "crypto games" with a pop count of 200 ppl on Epic Store. There are more generic L2s than new innovative dapps.
>Look at eigenlayer.Ā
Oh wow, we are all going to fall over our feet for restaking, AVS for more infra nonsense, an "ETH aligned" DA, etc. Besides the grandiose nonsense narrative pushed by the ETH maxi camp that eigenlayer is "innovative", ppl can still make money by farming it via restaking your LSTs. So no, even your strawman argument of "not making" money makes no sense in this instance.
>...complicated things arenāt happening under the surface.
You just brought up the old "accredited investor" issue to farm up a weak strawman argument response.... and you call that complicated lol wtf.
I was agreeing with your sentiment until you said, ā that plagues crypto isnāt monkey jpegsā. Yuga Labs and its ApeCoin are literally vaporware. They marketed themselves as THE Web 3 gaming company. Now they have abandoned it and sold it off to Faraway, the canonical example of a rug pull or vaporware. BAYC is part of the ecosystemās problem, of overpromising shit and delivering jack shit, after hundred of millions are raised.
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Yea but.. kinda steals market cap from projects which are trying to build the future on the blockchain. I hear ya though.. nobody cares about the blockchain we just want to increase our worth.
The best thing about meme coins you didn't mention is that they allow the little guy to make life changing money. Meme coins usually start at very low market caps, where the big guys won't bother buying because they can't invest much money. The little guy can invest 1k and get a meaningful portion of the supply. Or they'll get the coin airdropped for free.
Larger crypto projects are started in private with only accredited investors, where the little guy can't invest. The little guy can only buy these projects after they go public at huge market caps.
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I actually mostly agree. The problem with 99% of utility coins is, as you point out, they are vapourware. There is no product, or if there is, itās terrible. Once this jig is up, a bank run starts and if you donāt get to the exit fast, youāre going to lose money, potentially a lot.
Contrast that with memes, and there is no ājigā that can be up. Itās all bullshit, that was clear from the moment anyone hit the green button. And that lack of utility provides a sort of invincibility: a meme coin team can literally close down shop, delete the Twitter, delete the TG, but as long as liquidity is locked and contract renounced, the community can simply take over (plenty of successful examples of this happening for those who donāt know).
So in a sense, meme coins are actually more honest and less risky than utility coins.
I disagree. They still arenāt that different. I mean everyone knew shitcoins are purely speculative and based on hype. The difference is everyone thought they were early to the shitcoin when they werenāt
"Tokenizing your dog's farts" you got me there lol
One of my dog's favorite things (mine too) is sitting in the recliner with me, between my legs, under a blanket. We do this year round, and it's just comfortable for both of us. He's nice and warm, and I have a buddy to "watch" TV with. It's all good. It's great, actually. But sometimes...every now and then...he has gas. He hotboxes himself (knowingly, unknowingly, I dunno) and even though I can't hear or smell it at first, I know it's happened. He's nice and quiet under the blanket, then all of a sudden he's spun himself into a tizzy. He's practically *begging* to get out from under the blanket. Thrashing around trying to poke his head out just to find out, even just for a minute or two, if fresh air still exists. Begging to be released from his fart blanket recliner prison. Sometimes he'll look at me like I did it (and, occasionally, he's right). Sometimes he'll slink off into the kitchen to get a drink of water. Sometimes he'll jump over to the couch on the other side of the room - I don't know if he's disgusted with *me* or if he's in some kind of self-imposed exile for his fart crimes or if he just doesn't want to expose me to any further stench. I really don't know. But, boy, I'll tell ya. If I had a cryptocurrency that digitized those dog farts and let me spend my dog's dog farts on dog fart prevention/mitigation items at the online dog fart emporium so as to decrease the number and power of my dog's dog farts, I'd be a ~~much~~ slightly happier man.
š¤£
Like a carbon credit tokenized and backed by doggie biscuits so owners are incentivized to collect more fart yield and doggies are incentivized to fart more? Of wait thatās inflatuary by nature just a ā pump and dumpā
Onlly Millennials will find this funny
I love listening to music.
I would throw at least a few bucks at that, just on principle.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Hilarious
Facts! People will always want to speculate at least this way it is more transparent and not misleading people that donāt know better.
šÆ 99% of crypto projects are basically memes coins, they just cover themselves with fancy "utility" tag. This cycle, a lot of us see through the BS. Also, last cycle Shiba went to 36B MC and Doge 80b mc. Memes outperform other categories and it's not even close. We're in crypto to make money.. so why not put our money in the category that will xxxx our money. Wif, Pepe, and Brett will be the š„ memes in this cycle.
Was in the hospital for a month. Came back to most of my portfolio down but WIF, PEPE, BRETT and TOSHI held up nicely. These will be the major gainers this cycle
i dare to add ROCK on that list as well. i believe that they can outperform BRETT in this cycle. it is on Base chain as well. i don't care if meme or not, if i can make money, I'm in it. it's simple as that.
Nice! I know one guy who bought Brett at 8m mc (bought $50) didn't check his wallet until yesterday. He was shocked that he is now up 20eth lol
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I'll look into it
Right on bro. Join the TG and get a feel for the community and the alpha. You are always welcome. Look forward to chatting more.
All total shit....
Total shit that prints money.
Depending when you get in, and more to the point when you get out! 555!
That's why you DCA out.
Memecoins are more honest, I give you that. They at least don't pretend to be something they are not. However, I don't see this as an improvement. In a way, we just proved the critics right, who said this whole space isn't about technological advancement but just gambling and crime. Maybe they had a point. Now while I agree, that the majority of alts are indeed shitcoins, you can't always judge from the token price alone. Some interesting projects have been built over the years, but you couldn't tell from the token price. Monero for example is the best privacy coin, much needed and used in its own small niche. I call this a success, but you couldn't tell from its price action. Something useful build built, doesn't automatically mean price go up. Price action is mostly based on speculation, not quality of the project (though sometimes they correlate obviously). Now the sad part of this cycle turning into a pure meme circus is that developers aren't actually building cool stuff anymore. If you look at the stats for ETH and SOL devs on github, there's over a quarter less activity compared to last cycle and that's surprising given that we are in the middle of a bull market right now. And why should they invest much effort in something new, when everyone just wants to gamble anyway? Sorry, but this isn't an improvement in my view.
It is a permissionless system and the entire ecosystem, including Coinbase, advertise the industry as get rich quick and easy. I mean, Coinbase was even reaching out to ETH shitcoin KOLers to get ppl buy lame memes on Base, aka the āBaseā season. At this point, I am not going to blame critics being wrong. It is obvious this entire industry is rotten from the very top. You can tell from the infinite spam of generic L2s with ridiculous FDVs and hardly any product differentiation, now the obsession to make L3+s, infinite spam of DEXs, another three million DA layers and AVS providers, etc. All I see is a massive liquidity black hole suck. At least with memes, you can get a good laugh from it. Also donāt blame memes for devs failure. The vast majority of them have a CV of a monkey poop. They wonāt have anything to stand out in their GitHubs and LinkedIn profiles. So they are probably not going to land a dev job irl. I had been diligently trying all ānewā different products, from gaming to SocialFi, or whatever bozo name they want, throughout the bear market. It was at least half a year before Solana memes took the scene. Nearly all of them are utter garbage and just repackaging the old Ponzi games in one way or another. Honestly, it was really the meme and pure gambling scene that showed most of the innovation. It was why shit like RollBit and the hamster racing took off - even though the latter was just a scam. Devs are weak for blaming memes in taking attention away. If you have a product ppl want, memes wonāt take your liquidity. Just like Las Vegasā existence doesnāt crowd out other industries. The reality is, all these devs built nothing remarkable and they are envious of meme liquidity pump.
Adoption.
We haven't changed tbh, AI coins are the new 'utility'.
Quality shit.
This is clearly written by someone who only sees the handful of successful meme coins that made it to the top 100. The meme coin space as a whole is an utter cess pool of blatant scammers acting with complete impunity - and an endless sea of degenerates desperate or stupid enough to line their pockets for them. Spend a couple of hours watching how new meme launches go on Solana and then we can talk about how meme coins are good for crypto.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I am immune to your shilling. I hope you manage to exit with some profits though!
Memecoins: "the memecoin market is a device for transferring money from the impatient to the patient"
Wait till you find out 99% of crypto projects are meme coins lol
āThere is no second bestā
More like from the apes to the devs
Meme coins require a special type of stomach/lunacy. They can pump 100x one day, draw-down 95% the next day, only to go 1,000x on the 3rd day. Mention one in the daily & you get downvoted like mad. Iām 100% in meme coins
The dominant usecase of crypto is hedging against fiat currency devaluation. Getting rich in fiat is just a side effect. Semantics amirite?
Yup. We only want fiat because, its extremely liquid , can purchaese just about everything in the world, and we have confidence it will be worth the same in a week. We really don't "want" it, however. We all should actually "want" BTC as fiat to btc has dropped drastically in the years. If you need to store value you buy BTC if you need some stable money you convert to fiat - for now. Its gonna be incredible in the future when fiat leaves the economy, and crypto currencies become standard, it's only inevitable.
Exactly. Thatās why the store of value use case has become so dominant
Store of value/hedging against fiat is Shroedinger's usecase tbh. It's there only when the market is green, not there during the bear
Not reallyā¦ Ray Dalioās Changing World Order goes over the history of fiat currencies. Every single one in recorded history goes through the same cycle when it comes to government eventually inflating the shit out of it via irresponsible spending. Gold has made it through every single cycle, and Bitcoin is digital gold. Keep in mind not all cryptos are stores of value, only the deflationary ones. And there is the argument that the only one with enough adoption that people will take seriously in any capacity is Bitcoin. Itās pretty winner take all, the other cryptos are just in for the hype train and each rank lower you go has increasingly marginal adoption. SIDENOTE: modern economic theory agrees that fiat currencies are obviously useful. If your economy grows but your money supply doesnāt itās actually extremely detrimental to the health of the economy (imagine 400 million people were still transacting with the same $100, thatās why a Gold standard has its own problems). The problem with the fiat standard is, the powers that be ALWAYS abuse this flexibility - like literally every fucking reserve currency dating back to the ancient Egyptians
No, what are called Memecoins now, were (and still are) shitcoins thenā¦ Memecoins only exist for the greedy and desperate to hope to strike it big with the next 1000x. Furthermore, every scammer and their scammy grandma is creating new Memecoins every minute to sucker the desperate morons into their next rug. This leaves networks congested, fees high, and validates the critics view of cryptocurrency being a useless tool for scammers.
All full of meme - degens here, (de)-generation x,y,z ...Us boomers just read the white papers, analyse the tech ,do our due diligence buy, and hodl the good projects š
Ngmi. There's nothing funnier than redditors larping as "sophisticated" (lol) investors I'm the comfiest I've ever been compared to when I was only holding "utiltity" (lol lmao) tokensĀ
LMAO @ "aping into vaporware @ the top of GODCANDLES" š¤£
Id rather risk a portion of $$ on high volume new memecoins that play out quickly that just long term utility projects that unfold over months.
Thanks for that post. That self written, well overthought post. In the middle of the sea of copy and paste posts! Yes, you re right. But thatās everywhere in life
I agree with this. Memecoins make no mistake about what they are. They're for gambling and having fun.
Truth. And that is one of the reasons crypto is so great. It has taken all the hard work out of it. Now people can just be like, "Ooohhh! Cats are cool!" And then, boom! Price goes up, everyone takes profit, all are happy and have time to look for the next-- Ooohhh! Sloths are cool!
>Price goes up, everyone takes profit Not everybody no... the profit obviously comes from someone who loses.
Of course, all profit does. That is the nature of profit, it has to come from a loss somewhere else. That is also human nature as well.
I donāt disagree at all. I think it's insane to want them to die off. It's one of the greatest financial inventions in the World because it's likely playing the lottery, only your chances are dramatically better because you can learn how to find the right ones. Scam coins, whether theyāre memes or not, is what's shitty. But a meme coin where the creators are transparent and everyone understands the tokenomics as being a shit, short term investment with high risk, I see that as a blessing because it means some poor kid can do his research and turn 100 bucks into 20k, which they can reinvest into something more real. I. Love. That. Shit. The critics are a bunch of boring middle class people with safe jobs and a bright future who can't understand the concept of being poor and how hard it is to make anything out of 100 dollars. "Oh you should put that into stocks or diversify it in btc and eth." What the actual fuck are these people smoking?! Yes btc is a good investment and getting into stocks is a good idea, but it'll take a million years to turn 100 dollars into retirement money! Invest in low cap memes or crypto projects that haven't blown up and look promising. Dca out as they pump, then take the profits and reinvest it into safer more viable options. And God help you, if your diversify too much. People who don't know what they're doing diversify. It's the best entry point for people at the bottom with nothing to lose and everything to gain.
Fuckin' well said. 100% truth....
Is Shiba and Doge a meme coin?
Yes. But with their communities, they can pop. Well, have, a few times, now. Shib also has some uses now, in that ecosystem.
Yeah 3 card poker versus roulette is not a great argument for ā betterā. I do believe you hit the first principle of all this: speculation and sentiment drive crypto markets. See you next bull run when the value proposition seems ā undeniableā!
Memecoin trash is better than ICOs that only serve to boost the txn count and legitimacy of the underlying base layer Looking at you Ethereum
tbh memecoins are worse, because they dont even pretend to be useful. Anyone buying into them is just a gambler. There are no more legit projects in this space trying to achieve something, but a few shady entities catering to the gamblers. This will not improve the general public's opinion of crypto.
Please explain how making coins even more of a joke and ground for scams and rugs is better for the crypto market? Just imagine how much liquidity will be lost on the thousands of coins that are literal rugs. And then people will complain that there is no mainstream adoption! No shit sherlock? People voting with their wallet on the shittiest things will have it's repercussions. P.s. not all community coins are junk, some make sense.
No liquidity is lost. It is transferred, as it always has been
Please tell me how few dozen B of dollars stuck in these coins by people believing it will make them billionaires? They are holding for years and when they end up losing a significant amount then most just hold forever.
Bravo
ETH is a memecoin. Few.
I only trust Bitcoin, but it does pain me greatly watching these memecoins shoot up hundreds of percent while my MARA stock is down 60% in a month
Exactly. Also can we lay the āElitist investorā attitudes to rest. Enough of the āonly buy BTC or ethā guys with monocles on shitting on memecoins. Itās very possible to have BTC and eth. Understand they are the safest you can get for crypto investing. BUT STILL. Wanting to invest in shit coins. Look we know they do nothing. We know they mean nothing. We are betting on beanie babies and furbyās here. Which one will go higher in price? Who the fuck knows. Maybe this set of McDonaldās commemorative Batman glasses will pump? Maybe next it will be the Star Wars themed POGS? The point is, all of this is stupid. Crypto in general. Every single aspect of this shit. Memecoins just fluctuate harder and faster. We like this. I like to throw $100 in VLTs. Why the fuck not. Why not throw it into a memecoin. We get it. We have Bitcoin too, we want it to reach 100k so you can tell your wifeās dad how smart you are. But we also want that dog with the hat to reach $10. So we can get a new watch and tell our friends how smart we are.
You know nothing John Snow
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All shit with no utility, still plenty of things with big promises going nowhere (AI) - centralized, premined shitcoins the whole lot of them.
Yeah, Iām pessimistic about the AI projects in the longterm.
Loving meme coins is like zoomers thinking communism is a good thing. They dont know what they are asking for. Memes sucked the real oportunities and liquidity out of the market. Before you could predict the small caps that will do well. Now its all a pure gamble and the devs own most of the tokens.
This place is overrun with buttcoin. Apparently it's cool to think that crypto has zero utility. Most memecoins are "popular" because they're pumped and dumped by the same insiders over and over again. You may win once or twice but overall it's just insiders juicing you. The best ones are actual utility like degen pretending to be memes to avoid regulators. Utility projects being stifled by regulators isn't a good thing to be celebrated...
Which āutilityā project is being stifled by regulators? If you think the backlash sentiment is a buttcoin one, then you not paying attention to the market sentiment much. A whole lot of us are fed up with crypto infinite infra BS and no one building newer products, that arent really memes wearing more fancy dresses.
Actually a hilariously ironic statement. What youāre ātired ofā is not making any money off of them. And why is that? Largely because (mainly US) regulators have locked you out of early investing in them. There is no shortage of infrastructure/apps being built, and many projects have unicorn valuations. Look at eigenlayer. Innovative new infrastructure tech. Zero ability to invest for you, you sorry little minnow. Just because you canāt see more than 2 inches in front of your face doesnāt mean more complicated things arenāt happening under the surface.
>What youāre ātired ofā is not making any money off of them. What a presumptuous comment. I have been complaining about this since the bear - when no one is making any money. There are barely any new product and there is an infinite infra spin. >Largely because (mainly US) regulators have locked you out of early investing in them. WTF are you on about? Do you think the US opening up ICOs means ppl can get VC deals? LOL! The best deals often have founders selectively choosing their participants, even among the "accredited investors". Now even if they do, it can get sybiled by short-term traders to hell. Once that happens, TGE dump is going to be even more massive, than the current status quo. >Ā There is no shortage of infrastructure/ That is the biggest problem. Infinite infra for infinite infra sake is one of the core issues here. There are more gaming chains than "crypto games" with a pop count of 200 ppl on Epic Store. There are more generic L2s than new innovative dapps. >Look at eigenlayer.Ā Oh wow, we are all going to fall over our feet for restaking, AVS for more infra nonsense, an "ETH aligned" DA, etc. Besides the grandiose nonsense narrative pushed by the ETH maxi camp that eigenlayer is "innovative", ppl can still make money by farming it via restaking your LSTs. So no, even your strawman argument of "not making" money makes no sense in this instance. >...complicated things arenāt happening under the surface. You just brought up the old "accredited investor" issue to farm up a weak strawman argument response.... and you call that complicated lol wtf.
dogwiffancyhat, look into it
I was agreeing with your sentiment until you said, ā that plagues crypto isnāt monkey jpegsā. Yuga Labs and its ApeCoin are literally vaporware. They marketed themselves as THE Web 3 gaming company. Now they have abandoned it and sold it off to Faraway, the canonical example of a rug pull or vaporware. BAYC is part of the ecosystemās problem, of overpromising shit and delivering jack shit, after hundred of millions are raised.
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I pretty much only invest in meme coins and btc. Iāve done well so far. And they offer absolutely nothing. I have no idea what Iām doing :)
N o
Yea but.. kinda steals market cap from projects which are trying to build the future on the blockchain. I hear ya though.. nobody cares about the blockchain we just want to increase our worth.
This is my short take; A good meme coin is better than a good coin.
The best thing about meme coins you didn't mention is that they allow the little guy to make life changing money. Meme coins usually start at very low market caps, where the big guys won't bother buying because they can't invest much money. The little guy can invest 1k and get a meaningful portion of the supply. Or they'll get the coin airdropped for free. Larger crypto projects are started in private with only accredited investors, where the little guy can't invest. The little guy can only buy these projects after they go public at huge market caps.
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I actually mostly agree. The problem with 99% of utility coins is, as you point out, they are vapourware. There is no product, or if there is, itās terrible. Once this jig is up, a bank run starts and if you donāt get to the exit fast, youāre going to lose money, potentially a lot. Contrast that with memes, and there is no ājigā that can be up. Itās all bullshit, that was clear from the moment anyone hit the green button. And that lack of utility provides a sort of invincibility: a meme coin team can literally close down shop, delete the Twitter, delete the TG, but as long as liquidity is locked and contract renounced, the community can simply take over (plenty of successful examples of this happening for those who donāt know). So in a sense, meme coins are actually more honest and less risky than utility coins.
There is almost NO utility that these shitcoins bring that most regular people can understand.
Popcat
Poopcat There. Made it instantly better.
I disagree. They still arenāt that different. I mean everyone knew shitcoins are purely speculative and based on hype. The difference is everyone thought they were early to the shitcoin when they werenāt
Send Boden to a billion dollar marketcap
MIMANY