RE: The Selective "Evolution" Thread of the Crypto Space from Bitcoin to Memecoins

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I like your analysis. Seems like a fairly factual account of the last dozen or so years in the crypto space. I was using a Dogecoin faucet and I'm still using a Bitcoin faucet. I like the concept of giving tokens away to help decentralize them a bit. I do that myself at @tokenfaucet.

Hopefully, everyone who buys into memecoins know they are worthless. They just hope they will pump and be that guy who got rich trading memecoins and now driving a lambo or whatever.

I have had some memecoins and decided they were worthless in the past so I sold them. For example, the Doge I got free from a faucet. Turns out I sold too early. I still think they are basically worthless but now I also see that they are a membership card in a social club.

We have meme tokens here. I really like #PEPE. It has been around over a year I think. Someone in here just analyzed the Ethereum PEPE and our PEPE and I think the conclusion was that in the last year real PEPE is up 6X and ours is up 4X. Not bad if we think of what the Hive was worth that some of us used to buy that hive-engine PEPE. It has gone down a few X. That may be why our PEPE looks higher because it is in HIVEs. Even so, in dollar terms Hive is down and PEPE might be even.

This part of the quote reminds me of something I'm working on...

hope they will pump and be that guy who got rich trading memecoins

I just added pumpkin items to one of my games (@metarobots) and am working on a mini game where you can buy and sell the pumpkins on a game market where the price is not market driven but algorithmically driven. The "game" is to see if you can catch on to what the algorithm is doing and make some in-game money in the pumpkin market.

I think most memecoins are not market driven. I think one or more whales are manipulating prices at their own will. I think using a little bit of a game's in-game currency to practice a simulation of what a manipulated market looks like might be informative and maybe fun. We'll see. I'm all about doing experiments and then analyzing the results to see what I can learn.

How about you? Are you experimenting with any memecoins here on hive-engine?

A couple of them build communities

That applies here too. Imagine if the rest of the world discovers we have a PEPE here, for example, and you can trade it on hive-engine for no fees. And it has a community with its own game @pepegame similar to a very simple Splinterlands.

I am a realist so I know it probably won't happen. But in my opinion, it is worth it to have a little skin in the hive-engine meme token game.

Just in case...

hive-167922
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I do that myself at @tokenfaucet

I wasn't aware of this one. I remembered someone distributing small HIVE amounts a while back (maybe they still do), in a faucet style, but I forgot how they were called. I am not against this, even on Hive. This is a known model which some prefer, and has the benefit of helping decentralization. Even though we have our own mechanism through POB, far more advanced.

they are a membership card in a social club

Any benefits of being in this social club? Other than hoping to get rich?

Someone in here just analyzed the Ethereum PEPE and our PEPE and I think the conclusion was that in the last year real PEPE is up 6X and ours is up 4X.

I guess there is some arbitrage opportunity? Of course, there might not be one if we account for Ethereum gas fees.

I think most memecoins are not market driven. I think one or more whales are manipulating prices at their own will.

Most likely.

I am a realist so I know it probably won't happen. But in my opinion, it is worth it to have a little skin in the hive-engine meme token game.

Maybe... On principle, I won't buy meme coins with coins or tokens that have utility. I've been airdropped some dust PEPE, and because it doesn't have a pair on diesel pool, I've been too lazy to sell it. Probably worth close to nothing (I checked at some point). I am not against earning meme coins if someone prefers them, but not buying them with something with utility.

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Thanks much for your thoughtful detailed reply!

Social Club Benefits

AI lists some benefits of being in an online social club or community:

Online social clubs and communities can be a game changer:

Connection: Instantly bridge gaps with like-minded people around the globe. Even the most niche interests can find a home.

Support: From professional networks to hobby groups, the sense of community is strong and often more accessible than offline.

Learning: Exposing yourself to diverse perspectives and skills can massively broaden your horizons.

Convenience: No geographic limitations—interactions happen from the comfort of your own space.

Opportunities: Many communities offer unique job postings, collaborations, or even just moral support.

Apparently there is an "epidemic of loneliness and isolation" that even the US Surgeon General is concerned about.
https://www.hhs.gov/about/news/2023/05/03/new-surgeon-general-advisory-raises-alarm-about-devastating-impact-epidemic-loneliness-isolation-united-states.html

Based on the videos I have seen explaining the draw of meme tokens, the above makes people interested in being a token holder in a meme token community. The chance to get rich is part of it too, but I think it is more than just that.

Our PEPE

Our PEPE on hive-engine is not financially connected to the better known one on Ethereum. Yet. There is talk of setting up a SWAP.PEPE on hive-engine pegged to PEPE on ETH.

There are 2 diesel pools with our PEPE - with MEME and with HBD.

Finally

I am not against earning meme coins if someone prefers them, but not buying them with something with utility.

Fair enough, and likely wise!

But maybe the utility is in feeling like one belongs to a like-minded group who get some pleasure out of associating with the meme.

Thanks again for this opportunity for interaction here on Hive. We don't always get much back and forth in our posts or replies and it is nice when it does happen!

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(Edited)

Ok... I understand the idea of a social club in general. Unfortunately, it seems people are drawn to something like meme coins to build communities, rather than Hive, which is built especially for this purpose.

Who knows? Maybe the H-E meme coins will be a magnet for those who prefer them.

There are 2 diesel pools with our PEPE - with MEME and with HBD.

Thanks. I often swap for SWAP.HIVE and I forget some tokens don't have that at all.

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This could be a gud idea. Although the "value" of SWAP.PEPE may make sense in its' own way. !BBH !DIY !DOOK

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@pepetoken just sent you a DIY token as a little appreciation for your comment dear @atma.love! Feel free to multiply it by sending someone else !DIY in a comment :) You can do that x times a day depending on your balance so:

Don't be shy - share some DIY!

You can query your personal balance by !DIYSTATS

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!DIYSTATS

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you have 3 DIY tokens and today you can use the command None times to gift a friend with DIY tokens:

Don't be shy - share some DIY!

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