The latest understanding of MEME currency

Recently, I read a very interesting article on the Internet: "A great Meme coin is itself a ZZ movement." (ZZ: zheng zhi)

Everyone is familiar with meme currency. It has always been controversial, and many people still equate it with CX. .

In the last bull market, when I started to participate in shit coins and PEOPLE, I vaguely felt that I could not simply use CX to define such meme coins, because they It is somewhat different from CX in our traditional understanding:

Typical CX currency adopts a model where a very small number of people sit on the bank and lure the public to support the banker. Ultimately a few people benefit.

But projects like SHIB and PEOPLE have actually become a national carnival. Moreover, the flavor conveyed by many of these projects is not simply interest relations but cultural attributes and value recognition.

Since there is such a difference between the two, what exactly does the value/price of meme coins reflect?

Community consensus? Community sentiment?

In my opinion, these statements only point out the symptoms, the results, not the root cause.

It has always been difficult for me to find the right language to describe the source of its value.

This article gives a very good answer. A sentence in the original article says:

"Meme currency is essentially the first time that humans have realized the pricing and monetization of the ZZ movement. It is the shortest path to unify the common interests of the people in a movement"

I carefully recalled the process of my participation in the two meme coins Shitcoin and PEOPLE:

It was all because of them in the beginning The story aroused my strong interest, resonance and curiosity.

Then, I bought their tokens without any scruples. I had only one idea at the time: to become a member of this project and witness its future development.

I believe there must have been a lot of people like me at that time.

As more and more people participate, the movement spreads from individuals to groups, from the minority to the masses, and from a spark to a prairie fire. trend.

A typical social movement began.

But compared with traditional sports, it takes place not in real life but in the vast virtual world.

How is the impact and value of this type of movement reflected?

In real life, we can only measure it through boring news reports: the more media reports and the bigger the reporting institutions, the greater its value. will be considered larger.

But this method is actually widely interfered and restricted by various external forces. It's possible that an event that changed the course of history is well known around the world, but remains unknown in some places.

In the virtual world, once it is linked to meme coins, its impact and value will be simple and crude:

Price has become the most direct measure.

As more and more people participate, the project’s token price (market value) will become higher and higher.

The impact of price will exceed the publicity and influence of any media, and will ignore all restrictive means to suppress it:

A thing whose price rises sharply every day, no matter how you limit it, cannot stand up to human nature's pursuit of interests, which leads people to care about its price from the beginning to everything that happens behind it.

In real life, we actually already have similar benchmarks---commemorative stamps and commemorative coins. But they obviously have the inherent characteristics of centralization: they are carefully selected by authoritative institutions, issued and promoted from top to bottom, with strong value indoctrination and public opinion purposes.

In the virtual world, this meme coin built from the bottom up inherently has the genes of mass participation and widespread dissemination. . Their timeliness, influence and speed of dissemination are unmatched by stamps and commemorative coins.

Imagine:

When the Wuchang Uprising fired the first shot to overthrow the Manchu Qing Dynasty;< /p>

When the victorious Nationalist Government accepted Japan’s surrender;

The people of East and West Germany were desperate, When we work together to bring down the Berlin Wall;

...

If we all have Meme coins that represent those historical events. What will be the value of these coins today?

In this sense, Meme Coin is not only a great practice of monetized pricing social movement, but also a use of blockchain technology to carry the historical process. Excellent try.

Of course, saying this does not mean that any meme coin is meaningful. In the permissionless world of crypto, where anyone can do anything for any purpose, most meme coins with impure purposes will end up being nothing more than a mirror image.

But a meme coin that happens to be at the right time, place, and people will definitely leave an eternal memory and long-lasting value in the crypto world.

What’s interesting is that this practice has been going on for so many years, and only now can we describe its essence and connotation so clearly and accurately.

There is nothing more wonderful and wonderful about the encryption world than this.