Hey everyone, it’s Whatever Wednesdays and this is going to be a silly post. I’ve talked about “Talking the Talk” when it comes to finance, but when it comes to Crypto, there are memes which are part of the crypto culture, such as “When Moon (and other Crypto Memes)”
When Moon (and other Crypto Memes)
First we need to understand that Crypto is a very young space. There are a lot of things that have happened in the last few years which have given rise to a lot of memes, especially when it comes to Bitcoin millionaires. There are people who are much younger than me who knew about Bitcoin and mined it and maybe have a few hundred Bitcoin. Last time this year, that’s a few hundred thousand dollars when Bitcoin was around $1000. However, now you’re looking at a few million dollars, with Bitcoin hanging around $8000, after reaching a height of $20k.
Then if you go back even farther, there are those who had a few thousand Bitcoin back when you could mine whole blocks (50 bitcoin) by yourself, this makes you a multimillionaire today.
Bitcoin Pizza Day
Bought on 22nd May 2010 by Laszlo Hanyecz, the programmer paid a fellow Bitcoin Talk forum user 10,000 BTC for two Papa John’s pizzas. Back then – when the technology was just over a year old – that equated to roughly $25, but is $5.12m by today’s exchange rate. – from Coindesk (2014)
10000 bitcoin, which at today’s rates is worth $80 million. Since 2014, it’s gone from $5 million to $80 million. Astounding right?
But how could he know? By the way, in case you didn’t know #BitcoinPizzaDay is a thing.
For this reason, people still don’t want to buy anything with Bitcoin for the fear it may continue to go up in price.
What is HODL? People seem to think its an acronym for “Hold On for Dear Life”. However, the purists (and me) will tell you that it’s an enthusiastic misspelling of the word “HOLD”:
Here is the full post:
I AM HODLING
I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e. GF’s out at a lesbian bar, BTC crashing WHY AM I HOLDING? I’LL TELL YOU WHY. It’s because I’m a bad trader and I KNOW I’M A BAD TRADER. Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro. Likewise the weak hands are like OH NO IT’S GOING DOWN I’M GONNA SELL he he he and then they’re like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY’RE DOING buy back in but you know what? I’m not part of that group. When the traders buy back in I’m already part of the market capital so GUESS WHO YOU’RE CHEATING day traders NOT ME~! Those taunt threads saying “OHH YOU SHOULD HAVE SOLD” YEAH NO SHIT. NO SHIT I SHOULD HAVE SOLD. I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU. You only sell in a bear market if you are a good day trader or an illusioned noob. The people inbetween hold. In a zero-sum game such as this, traders can only take your money if you sell.
so i’ve had some whiskey
actually on the bottle it’s spelled whisky
(but only if it’s payable in BTC)
This is now the rallying cry for all crypto whenever a “crash” happens. You can type “HODL” into google and find memes upon memes.
Buy The F******* Dip
This is a variation of “Buy the Dip” which is common language in stock trading. The expletive was added later on after the housing crash.
Crypto has adopted it with the expletive. However, the underlying nuance to this meme is that people in crypto call any “crash” a dip. It doesn’t matter if its a 80% drop or 90% drop, it’s still just a dip. The idea behind it is that these things are temporary and will recover.
I’ve discussed this before. I think there are two reasons why there hasn’t been a true crash yet. One is because of these constant boom-bust cycles and two is because institutional money hasn’t come in yet. Even then, it’s possible a crash may not occur, at least not in the sense of the dotcom bubble burst where everyone ran for the hills. This may be everyone moving all their money from altcoins into Bitcoin/Ethereum and other top ten coins instead of running for the hills. It may also be a slow bubble burst.
Can a bubble burst slowly?
LOL. I don’t know… but humor me.
It would be more like running over a nail with your car tire — with the nail still in it, which gave you a slow leak instead of a pop. You don’t notice anything until your tire pressure sensor goes off and maybe you even refill it a few times until you see the nail. It may be like that, you may just notice one day that all the trade volume of coins below top 50 market cap have just stopped trading and you wonder where they went. The coins still around may be the ones that survive, or we may see a few more die off even more slowly, until only 20 are left. Who knows?
When Moon? When Lambo?
So basically, for crypto the general idea during the huge bull market we recently had is that a coin would have an ICO, then maybe drop a little as some early ICO people got out, and then it would “moon” meaning go 50x or 100x or whatever. The idea is that eventually all coins would “moon” it was just a matter of when. So the rallying cry now is “When Moon?”
Then there is the lambo meme, where everyone who held bitcoin now is a millionaire driving around in a Lamborghini. So then, the rallying cry of “When Lambo?” also exists.
Of course, you can also combine them. “When Moon Lambo?” or “When Lambo Moon?’
Let’s bring it all together
Ok, so one of my favorite memes is this one:
In the center of this picture is Charles Hoskinson, the CEO of IOHK, which is building Cardano. Of course, he has Earth behind him, suggesting that he is on the moon, and he has the classic “Jesus” apparel. Projected over the Earth is the symbol for Cardano. On the left is the symbol for ADA, the cryptocurrency for Cardano. On the right is the symbol for Daedalus, their wallet. Of course, right in the center is a bright yellow Lamborghini, which he is holding (HODLING) for you.
Basically, this one pictures manages to encompass all the memes which always makes me laugh.
If you don’t know what Bitconnect is, it was a Ponzi scheme which was so blatant that they even had a pyramid in their infographic demonstrating how referrals work. A lot of people lost a lot of money. Interestingly, there were actually REAL conferences which shilled this scheme to other people. Carlos Matos was a promoter who became a meme:
This has spawned numerous memes of “Hey hey hey”, “Wasawasawasuppppppp”, and “Bitconnneccccccccccct”.
Additionally, there are other sound bites from this which are also pretty hilarious like “That’s a scam.” and “Whatamiagunnado”.
It’s funny and everything — but real people lost real money. Do not fall for stuff like this. If it seems too good to be true, it probably is.
Memes are funny. You are now a Crypto Meme expert.
Crypto is the wild, wild west.
Live is short. Be Happy.
May all my readers have lambos on the moon someday. 😀
Agree? Disagree? Questions, Comments and Suggestions are welcome.
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