jakiro
Author: Jerome Compilation: Block Unicorn
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What is the cause (Meme)?
“Formation” is a unit that spreads cultural concepts and symbols, and continues to spread and spread in people’s consciousness.Just like genes, the dissemination ability of the cause is different.Those who cause strong resonance are often existed, and those who are less influential will soon be forgotten.
The Internet has introduced the concept of “Internet cause”, which promotes the rapid dissemination of the cause and cultural concepts through images, videos, GIF and jokes.A study compares the spread of Internet causes to disease, pointing out that “the cause is spreading in a way similar to diseases spread by SIR models” and infected “individuals”.
The spread of network molding is similar to the spread of infectious diseases.
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“Moncot” is a cryptocurrency, and its value exactly comes from related causes.In essence, they bring economic value to the concept of the cause.
With the emergence of almed currency, cultural concepts, symbols and spreads can be traded and speculated.Their value is based on the correlation of the cause and their ability to capture public opinion, thereby creating a new market that can quantify cultural resonance and has financial value.
Meme currency simplified history
The following forms and chart briefly outline the cryptocurrency cycle and the factors that rose in these cycles:
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POW Meme coin
The workload certificate (POW) coin is mainly designed for mining resources to minimize resources to minimize and sell new tokens.Many of these factors first appeared on the “alternative cryptocurrency” sub -forum of Bitcointalk.Although many factors have failed to enter the exchanges, those successful coins have been traded on the closed platforms such as Cryptsy and BTC-E.Each factors are usually distinguished by factors such as names and brands, hash algorithms, block time, and supply. All these factors help their overall narrative (or “cause”).
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The first wave of tokens in the Bitcoin era was “aluminum”. Except for new ideas, it almost provided any inherent value.The above figure shows some examples:
Except for Litecoin, all these tokens have died (the reasons include low transaction volume and market value, lack of exchanges support, and prone to 51% attack, etc.).This may be attributed to several factors: weakness (lack of cultural longevity) and participation cost issues (each factors are a complete blockchain).
Litecoin’s long -lasting popularity may be attributed to the factor value (digital silver), which is derived from Bitcoin. Compared with other factors, it appears earlier and has been continuously supported by many exchanges.
Dog coin: the first almed coin
In the summer of 2013, the original dog coin (“wow, applause”) began to spread on 4Chan and Reddit.On December 8, 2013, Jackson Palmer and Billy Markus used this cultural trend to launch dog coins on Bitcointalk.This is the first cryptocurrency based on the cause of the Internet.
The success of dog coins has spawned a new cryptocurrency category. They are interesting, humorous, and ironic, using celebrities (such as Kanye West, Max Keiser), animals)(Pandacoin) or aimed at attracting specific communities.These were launched at the “alternative cryptocurrency” sub -forum of Bitcointalk as a workload to the tokens.”Technical details” become less important; everything is centered on the “cause”.The following figure shows some examples:
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ICO boom and the rise of Ethereum
The rise of Ethereum has triggered a wave of innovation, bringing new use cases, better user experience and new users.
Some specific improvements include:
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The easier tokens (ERC20 standard)
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AttractNew user group (non -miner)
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The tokens can make more money (unlike the zero -pre -dug POW tokens, ERC20 is sold directly through ICO)
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Introducing interoperability/unified ecosystem/unified wallet (via ERC20)
In the ICO era, a more “serious” project was born, such asTheDao, Filecoin, Tezos, EOS, Cardano, TRON and BANCORThe goal is to have the practicality or purpose of transcending the value of the cause.During this period, although some factors were not particularly noticeable, they still attracted some attention.
One of the examples is useless launched in June 2017Useeless Ethereum tokenIt laughed at the concept of ICO and raised 310 ETH in the ICO.
althoughDENTACINThe original goal was to become “cryptocurrency of dentists”, but it was still considered a coin and reached a market value of $ 2 billion in January 2018.
HaycoinIt was the first ERC20 toke of the UNISWAP, and it was also one of the factors created in this era (2018).It was created by Hayden Adams, the founder of Uniswap, and used to test the UniSWAP protocol. It initially did not attract much attention or transaction volume, but due to its historical significance, it reappeared in 2023.
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Favorite cause and early NFT
In addition to cryptocurrencies, a “Rare pepes“The frog PEPE factor set, the subset is not publicly released. If it is leaked, the watermark of” Rare Pepe Do Not Save “will be on it.
From 2016 to 2018, a groupRare Pepe walletAnd plan to trade the “Rare Pepé Find” on the Counterparty protocol.
Rare PEPES is usually considered the second NFT series in history, and it is still valuable to this day. Some prices are even more than $ 500,000.
along withCryptopunchs, MoonCats and CryptokittiesFor the release, NFT entered the Ethereum era, representing the unique token pointed to images and media.EtherrocksIt was originally a joke on Reddit in 2017. It started to collect 100 colorful clipping stickers with the theme of collecting 100 colorful clipping stickers. It began to be popular in 2021. The floor price in August reached 305 ETH (worth $ 1 million).
Another example is the UniSocks (SOCKS) launched by Hayden Adams in May 2019, which provides 500 duality socks that can be exchanged with SOCK (ERC20).The price of each pair of socks has soared to $ 53,000, which may make them the most expensive socks in the world.
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DEFI summer
In June 2020, Compound Finance launched a new token distribution method called “liquidity mining” or “income farm”. Users can provide liquidity and earn token rewards by locking assets.
This innovation opened the “DEFI Summer”. When it reached its peak, the “Food Coin” income farm provided locking to the tokens in the YAM or Pickle contract to obtain a 10,000%annualized return (with a modular coin).
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Moxy and dog currency
In 2021, the blockade of stimulating measures, interest rate cuts, cheap capital and new crown epidemic created a high -risk environment worldwide.
Retail traders on Reddit became popular in early 2021“GameStock”The cause, which is promoted by the friendly experience of Robinhood’s user and zero commission transactions, has led to the rapid surge in its stock price.
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The fanaticism of “GME” triggers speculation on other assets, especially those assets available on Robinhood.DOGE launched at Robinhood at a price of $ 0.008 in 2018, and attracted attention in 2021 due to Elon Musk’s tweets, and reached a market value of $ 90 billion in May 2021.
Doge’s popularity has spawned more coins with dogs theme, such asShiba inu, Floki and Safemoon, And reached a high valuation within a few months.
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NFTAgree
ERC721Standard andOpenseaThe platform has given birth to NFT, which is a unique encrypted asset expressed in the expression of “culture” or “cause”.
The famous NFT includesCryptopunksAs well asBored ApesAs well asSquigglesandPudgy penguinsThey are used as a picture of personal data on Twitter and Discord, symbolizing status and “club membership qualifications”.
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Recent trend (2023+)
With the rebound of cryptocurrencies from the bear market, the continuous emergence of new causes, culture, ideas and ecosystems has attracted more and more interests and attention.
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Common mode
In each cycle, a certain form of coin appears, presented in various technical forms, such as POW coins, ERC20 tokes, and NFTs. It uses attention, narrative and speculation to survive and spread.
The cause is preceded by the tokens; the most successful coin is promoted by the existing cause of the alternative cause.
The encrypted native model has just begun to spread to the encrypted circle, such as Pudgy Penguins.
The low price attracts speculation; the price itself has become a cause.
Powerful communities and marketing are critical to the success of aluminum.
From crazy growth to professional operation, the cause coins are also continuously developing.
Images and slogans promote the dissemination of the cause.
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opportunity
The market value of almed currency is more than $ 600 billion, and the daily transaction volume reaches US $ 13 billion, which has great financial value.
Grasp the next cause as soon as possible to bring profits to creators and investors, expand influence and become early believer, whether it is a ticket for wealth or the choice of following a specific KOL.
