Scams aren’t new. Neither are financial manias.
Today memecoins are the cutting edge for graft in the global marketplace.
The world is walking down a dark road paved with hope. Memecoin promoters take advantage of the situation.
Crypto projects no longer focus on technology – they focus on popular figures and overnight fortunes.
Make no mistake – this is bigger than memecoins.
COVID19 eliminated the existing economy and today reality is whatever people want it to be. Until the rug is pulled out from under their delusional worldview.
Memecoin scams are a big business.
Of course – we should all know that memecoins are a lot like lottery tickets – and they could create the biggest financial bubble in human history.
Buckle up!
The Reality of Meme
The idea of value in the crypto markets shifted. We are talking about the meme of memecoins. You know – the nature of value in the crypto space.
There has always been a profit motive in crypto. Unfortunately, the profit motive is driving development now – and the cryptosphere is scam central.
Check out this video for a little background:
The artist known as Ye got an offer for $2 million – for a single bogus tweet.
In this situation – the scammer openly admitted it was a scam to Ye – and told him he could delete the tweet after a few hours – and claim his account was hacked!
Shameless graft!
Thankfully Ye blew the whistle on this crap and we see how dirty memecoin “projects” are sometimes.
We assert that memecoin graft points at a deeper issue. Something really nasty.
A Sea of Hope
There is a totally new economy. We live in it right now. We are sailing on the sea of hope.
Don’t act so surprised – especially when you get rugged!
The COVID19 mass mind control game plan and crooked memecoin devs are remarkably similar.
We aren’t saying there is a single group doing all this – actually we are sure there isn’t. The point is mass psychology is simple to manipulate in a world that is totally connected 24/7 globally.
Patrick Boyle goes on to discuss the Argentine memecoin debacle led by President Milei – who got sucked in by the same memecoin operator who is connected to the Melania Trump token launch.
It’s all fueled by hope. No one really thinks these tokens are a good investment. The average memecoin buyer is looking for the bigger sucker – but there are only so many idiots out there.
Hope again. Hoping that getting into the middle of memecoin maelstrom will make a profit. Hope dashed on the shores of cruel reality.
No one left to steal from. No more hope.
Tech Bro!
Welcome to the biggest bubble in history. It’s a bubble in hope.
The current crop of oligarchs in command think they can rip society apart – then put it back together.
Memecoins fit perfectly into this worldview.
The tech bro behind the Milei media circus is in his 20s and has clearly made a lot of money in the memecoin space. Good on ya mate. Nothing like a bunch of zeros to lift your mood.
As the story goes, memelord tech bro told Milei the token he promoted on social media would help Argentina tap into global capital markets – and help everyday Argentinians grow.
Hope again. A massive pile of steaming hope. Flies buzzing around – landing on it.
What will grow in this pile of hope we wonder?
NOT a Great Reset
The world that existed prior to 2020 is gone – and it’s never coming back.
Cryptos started off as new technology that could have been global decentralized cash. Now they are a lifeboat for value – much like gold or other financial metals.
By its nature – a lifeboat is smaller than the ship that sinks. It could be no other way.
The system we had could not have been reset. It had to be destroyed. That part is done.
Our world is a fading echo of what existed before COVID19. Softer all the time.
Now we live in a world of meme. Hope and promises. Hero worship. All flash – no substance. Lies and bigger lies. Profits and more money. More and more.
But there is nothing behind the project. The hope is a lie. Everyone knows the token is crap. Everyone knows the money is worthless.
The future is a fantasy. The meme is fake. The promise is empty.
Meme of Memecoins
Graft is the meme. Greed is the meme. A meme spreads like a virus.
Memes need hosts to survive.
The idea of a meme is new. It relies on a vast, interconnected world to exist.
Militant atheist and big brain Richard Dawkins defined it for our modern world.
If you want it in simpler terms – this will help:
The meme that memecoins embody is terrifying. It’s pure greed, without any value behind the token. As these two lovable Bitcoin maximalists point out – in 2017 scam projects had the veneer of a promising technology.
Much like politicians, the scam projects of the era had the decency to lie.
Now – the mask is off. Greed and graft are going mainstream in a big way.
The Greed Game
Wanna know why lotteries are charities in most nations?
A lottery is fueled by wildly misguided expectations and greed.
Greed changes your values. It makes profit at any price possible ethically.
You will do anything – to anyone – to gain.
The mentality of greed isn’t new. But it was a shameful way to live. Religions warn of it. You will see why in the coming years. Greed destroys anything good in a market. Bad money pushes good out.
Memecoins are greed on wheels in the global market. There are no gatekeepers in the crypto space. As Milei pointed out in the wake of the scam – no Argentines were impacted by the graft.
All the hustlers were offshore. And it looks like Milei is telling the truth.
People hate memecoins because the little scam betrays the big scam. And we can’t have that.
Buy Hope – Sell Reality!
Capitalism isn’t about money. It’s about individual ownership.
Wide-eyed Marxists forget to mention that in a communist state – the people don’t own s#!t.
As we touched on here, the modern world is obsessed with money – the unit of account – not the productive capital that creates value.
OpEd: It’s Time To Get Over Bitcoin Already! Decentralization to Wall Street
The post-COVID19 reality we face is terrifying. No one would buy it. So lies and graft are the norm.
We are facing the end of individual ownership. The only digital assets that could have helped have been turned into a lifeboat for the upper 1%. We are talking about cryptos. We are talking about cryptos as an asset.
Remember – the lifeboat is always smaller than the sinking ship.
The problem the 1% faces is that anyone can buy into the lifeboat. Not ideal from an oligarch’s point of view. The lifeboats must be exclusive.
The solution is so many options – so many tokens to buy – that reasonable decisions are impossible.
We don’t have a simple answer for you this time. Long hope, short reality. Remember to get out before the rug. It’s gonna be a big one.
