Meme coins explained: Inside crypto’s stupidest bubble

I don’t really mess with memecoins, but don’t hate them. It’s like a piss-take version of how the actual financial system works, and I enjoy the idea of some random kid getting rich by playing that system.

@Zan
And Im not the one to achieve his dreams. Last bullrun I held fiat and missed the train. Bought altcoind at the end of the bullrun and DCAed the whole time. Now this run I hold altcoins and miss the train

@Corin
Altcoins haven’t even started yet. BTC goes 1st, then alts wait till Feb 25

Striker1 said:
@Corin
Altcoins haven’t even started yet. BTC goes 1st, then alts wait till Feb 25

What do u see for topside of doge / shib?

@Zan
Some random kid and most of the insiders.

Suki said:
@Zan
Some random kid and most of the insiders.

The “insiders” in a memecoin is usually some dude in his bedroom lol.

Don’t hate the player, hate the game.

Zan said:

Suki said:
@Zan
Some random kid and most of the insiders.

The “insiders” in a memecoin is usually some dude in his bedroom lol.

Don’t hate the player, hate the game.

Definitely not ,these specific memecoins don’t just send to billions for no reason. It’s not like they were the first or had anything unique.

@Zan
One kid gets rich while the other goes poor. It’s called gambling.

Sadie said:
@Zan
One kid gets rich while the other goes poor. It’s called gambling.

I’ve always struggled to understand this… just because its unserious doesn’t make it objectively any more like gambling than another currency. So wouldn’t that mean that the entire concept of an economy is based on gambling?

@Finnick
REAL fiat currency has intrinsic value. I can exchange dollars for goods. With meme coins, there’s often minimal intrinsic value or utility beyond what the community perceives.

Sadie said:
@Finnick
REAL fiat currency has intrinsic value. I can exchange dollars for goods. With meme coins, there’s often minimal intrinsic value or utility beyond what the community perceives.

I can exchange memecoins for fiat and then goods. One intermediary step doesn’t matter. Memecoins can have rules in place that prevent supply inflation, unlike our favorite fiat currency that has quintupled in supply over the last 20 years.

Sadie said:
@Zan
One kid gets rich while the other goes poor. It’s called gambling.

You are always gambling if you are living ,it it’s not money then it is someone else health or their whole life.

@Zan
there are no meme coins…

there is a currency with a dog-icon that bitcoin maxis hate and there are a billion scam-tokens that aren’t even coins, that agree with them and claim that they are one of those “meme coins” that will only go up in value.

BTC maxis got salty, scammers used their salt to create a scam and financial news boosted it by writing about it because the scammers paid them and the ad-revenue was so sweet.

“meme coin” only exists in the minds of people who literally do not understand how crypto works.

Memes are people’s dreams.

Skye said:
Memes are people’s dreams.

I thought that was crypto in general. Its just way to one sided now with the focus on only memecoins. My dream of 3x my investments with utility coins went puff. Even set the bar so low and waited and dcaed for 3 years and cant even make a 2x return

@Corin
#facts

Just saw Shiba inu getting into the top 10 yesterday.

It shows how gambling and crypto work together, “utility” tokens went meh for the market (at least until now).

Then you have this doge millionaire guy who went ultra wealthy, so the concept of retail gambling on L1s last cycle became retail gambling on memes.

@Corin
That’s harsh…

Skye said:
Memes are people’s dreams.

Best description ever. They basically moves because people dreams to make an “easy” 1000x

Ellis said:

Skye said:
Memes are people’s dreams.

Best description ever. They basically moves because people dreams to make an “easy” 1000x

Like slot machines