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With memecoins, you will most likely lose money.
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With “serious” cryptocurrencies, too (but they don’t tell you).
For more than a decade, we have witnessed a parade of “Blockchain projects” that promise to change the world.
The revolution of Ethereum–Bitcoin-criptomonedas-seguridad/” target=”_blank” rel=”noreferrer noopener”>smart contractsthe Cryptocurrency to buy marijuana, the token that decentralizes the way you urinate, the blockchain that cures cancer, the tokenization of life, the metaverse (do you remember the metaverses?)…
But how many of these projects have delivered what they promised? Very few. And, to be honest, how many of these projects solve real problems?
Most cryptocurrencies They are born from imaginary problems that no one hasand for which there are already fully functional solutions (here we do not include bitcoin because, as explained in the CriptoNoticias Cryptopedia, It is NOT a cryptocurrency).
It’s as if an entrepreneur set out to reinvent the wheel, but with LED lights, an internet connection and, of course, a token which promises to give more “value” to each spin. In theory—at least for illusion buyers—it sounds spectacular; in practice, It ends up being an expensive, useless and totally unnecessary product.
However, there is a corner of the market that doesn’t take itself so seriously. A corner where no one pretends to be building the future of finance, nor claims that global inequality is about to be resolved. That corner is the memecoins.
That corner of the market is the magic of the absurd. The memecoinsas dogecoin (DOGE)shiba inu (SHIB) and its hundreds of clones, do not intend to change the world. They do not promise to be the next bitcoin nor do they talk about “blockchain interoperability” or “modular atomized scalability” in incomprehensible technical language. They are, in essence, jokes. And therein lies its magic.
Dogecoin, for example, was born as a joke. A software engineer thought, “What if I made a cryptocurrency based on a dog meme?” And he did it. No promises to revolutionize anything. No grand statements about the future of humanity. Just a simple “what if…?”
Surprisingly, dogecoin took off. And, over time, more memecoins arrived. Each with its own level of ridiculousness, but all sharing one essential characteristic: honesty.
Unlike cryptocurrencies that pretend to be something they are not, memecoins are not trying to fool anyone. Its message is simple: “Hello, I am a coin based on a meme. You can buy from me, but you will most likely lose money on me. Just use me for fun.”
Will there be a memecoin with a better name and ticker than this one? If so, I don’t want to know. Source: CoinMarketCap.
In a market full of empty promises, memecoins stand out for their brutal sincerity. They do not intend to solve non-existent problems. They don’t have whitepapers full of bombastic words. They don’t even have a reason for being beyond fun. And that makes them, ironically, much more authentic than many “serious” projects.
Memecoins also do not sell you the idea that “if you hold on a little longer, you will be a millionaire” (although, some of their promoters yes they do). On the contrary, they tell you: “This is a game. Do you want to play?”
And that is the key to its popularity. In a market that can be draining, memecoins offer a respite.
Of course, behind the fun there is speculation. Many people buy memecoins in the hope that their price will skyrocket, as happened with DOGE when Elon Musk decided to tweet about it.
Dogecoin (DOGE) price history chart. Source: CoinMarketCap.
But even speculators know what they’re up against. No one buys a memecoin thinking they are investing in the next technological revolution. They know it’s like betting in a lottery.
There is a saying in the world of finance: “The market always knows.” And when it comes to cryptocurrencies, the market (16 years after the creation of bitcoin) knows how to distinguish between empty promises and honest proposalseven if the latter come in the form of a joke.
While memecoins are what purists would call “shitcoins,” they are shitcoins with integrity.
Sure, most of the time you will lose money. But at least you won’t be able to say you weren’t warned.
Disclaimer: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of CriptoNoticias. The author’s opinion is for informational purposes and under no circumstances constitutes an investment recommendation or financial advice.
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