Can any meme coin challenge bitcoin in future ? - page 7.

Davidvictorson

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Quote from: krishnaverma on May 31, 2024, 10:43:55 PM

Is it possible that some meme coin might challenge bitcoin in future ? Why or why not ? I personally feel that though we may see some mem coin making it really big but it will never be at the level to challenge bitcoin.

Let me ask you a question right back

What makes you think that a memecoin that was created as a joke without any purpose or value, will be a challenge for bitcoin which has real-life applications in several industries?
What makes you think that a memecoin that was created mostly for pump and dump schemes by their founders who are scammers, will challenge bitcoin whose founder disappeared without a trace and which has survived several bear markets and manipulations?
What makes you think that memecoins that have low trading value will be able to challenge bitcoin, which a 24-hour trading volume of $27,319,219,016 USD?

Helena Yu

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Challenge in what?

Both Bitcoin and meme coins are really contrast with each other.

Bitcoin: decentralized, secure/ never got hacked, privacy, relatively stable.

Meme coins: centralized, not secure, had no privacy, pump and dump.

If you mean challenge in price and the market cap, well both of price and market cap are useless since someone can just create a coin and fund it with a huge amount of money to pump the price and market cap to reach top 1.

CODE200

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Highly unlikely, not saying it's impossible but the likelihood of it happening is really close to zero because bitcoin's an already established cryptocurrency and more people knows about bitcoin compared to a new meme coin, the reputation that they have to surpass is just too huge of a gap that we might see it as impossible plus there's also the factor of bitcoin having a limited supply that are only in the tens of millions meanwhile most meme coins have like a really huge supply that it's higher than the total market cap of bitcoin sometimes and with the law of supply and demand, I think that meme coins have it the hard way because with an abundance in supply, pretty sure that they're going to have less demand.

SquirrelJulietGarden

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Quote from: krishnaverma on May 31, 2024, 10:43:55 PM

Is it possible that some meme coin might challenge bitcoin in future ? Why or why not ? I personally feel that though we may see some mem coin making it really big but it will never be at the level to challenge bitcoin.

They will be not big challenging cryptocurrencies against Bitcoin. They are incapable to be such big challengers and they are not game changers in this market.

Meme tokens are more accurate terms to use for them, not meme coins because they don't have their own blockchains but they use available blockchains like Ethereum, Binance Smart Chain, Solana and others.

Even layer 1 blockchains can fail and parasites like meme tokens can fail more easily. They built their projects on houses of others and it is very big risk factor for meme tokens.

Before asking that question, you need to ask a more reasonable question "Will any layer 1 blockchain challenge Bitcoin blockchain in future?
Will Ethereum, Ripple, Binance Smart Chain, Solana blockchains challenge Bitcoin blockchain in future?

Dead Coins: Over 50% of Cryptocurrencies Have Failed

krishnaverma

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Is it possible that some meme coin might challenge bitcoin in future ? Why or why not ? I personally feel that though we may see some mem coin making it really big but it will never be at the level to challenge bitcoin.

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