Topic: Coinbase on the defensive about these bitcoin ordinal centralized meme coins (Read 1866 times)

They recently had confessed that diving into these cryptocurrency altcoins, memecoins and inscriptions are relative to gambling at a casino.
Where you do not know if you will walk away with profit which essentially means finding a gem or lose everything ending up in the red with your investment holdings.
So yeah, it is just like a crypto casino when you are dealing with all these things listed above.

Man you won't believe all the ridiculous stuff that crypto bros would do with their money only to blow most of it.   

I mean, what's the auction holder gonna do now? Buy a Lambo?

Makes you kind of glad that you are posting on the sane part of the crypto internet, where people actually make calculated decisions with their money before spending it.


I think that memecoins are like buying lottery tickets nowadays. Most likely you are not going to win anything.

I think we have lost value of coins completely because I remember any time Bitcoin is been discussed, altcoins are seen as shitcoins because of their pump and dump behaviors but it's down on me how meme coins that are worst of altcoins are winning, they are all over solana network and nobody is saying anything about it because the community see is an activeness on their network but that's nonsense, people even create meme token with a website to rugpull and it's now normalize.

I don't blame them actually, the altcoins that are promised aren't working, none of them has fulfill promises made in their whitepaper and road map, just hype and this is just rebranded shit show that will soon end. Bitcoin remain for those who has eyes.

Since then, there was some news about pepe & memecoins topping Coinbase in trading volume just today.
Uniswap Volume Leapfrogs Coinbase Thanks to Pepe and Meme Coins
https://decrypt.co/139594/uniswap-volume-leapfrogs-coinbase-pepe-meme-coins
"Uniswap still looks to be slightly ahead of Coinbase, with $1.2 billion volume compared to the San Francisco-based exchange’s $948 million."

Very interesting how these tokens which have no utility or intrinsic value except to the one's holding it, has up ended the king of all crypto and has caused a flurry of problems for the over 14 year cryptocurrency.

'Ordinal' sounds like 'Cardinal'. Do you think that the Roman Church controls Bitcoin?

Crypto exchange Coinbase has lost a Supreme Court case over its Dogecoin sweepstakes. In Coinbase, Inc. v. Suski, consumers claimed they were duped into paying $100 or more to enter a sweepstakes in June 2021 for a chance to win prizes of up to $1.2 million in the cryptocurrency Dogecoin. In a unanimous ruling on Thursday, Justice Ketanji Brown Jackson stated that the court, not an arbitrator, should decide whether the dispute belongs in arbitration.

Following the news, Coinbase’s stock price fell by more than 3.5% during mid-morning trading.

Coinbase has a history of losing court cases. Previously, the Supreme Court ruled on Coinbase, Inc. v. Bielsk in 2023, determining that the case should be put on hold until the Suski arbitration case was resolved.

Ofcourse, it's important to let them know that they are being used to power up the price of something that is considered a hate symbol. That should discourage the victims from patronizing things like pepe, which will consequently ruin the value.  Being a hate symbol makes it an evil product. Evil product should be worthless rather than worth more.

Things like that are basically Nazi things and the nazis operate in both the left and right but tend to be more open in the right. They typically adopt dual/multiple meanings for their hate symbols/terms to make them hard to catch. There is even the Ape NFT. The pureblood is probably another recent nonsense with dual meaning which they use for the unvacinated & inbreeders(pure race).

It's also important to let the community know that blockchain should be mostly for light data rather than for storing pictures, videos, songs or other heavy files.

I think that memecoins are like buying lottery tickets nowadays. Most likely you are not going to win anything.

The block was worth so much due to the auction for it because of the rune within it was worth alot more to most.
And the thing is, the ones who bid on it DO NOT get it back if they lose to be a holder of this ordinal.
So the potential winner just keeps bidding til they actually win it or they just wasted their time and obviously their bitcoin bid!
Sounds only for the crypto rich style auction house type bidders to be a part of.

Ah yes, the allure of the meme coins has gripped all the generations, even my father! I wonder if many of the younger teens have figured this stuff out. The exchanges that embrace these changes are right for doing so I think, it surely brings more volume to their exchange no doubt I might add. I think there are so many different ordinal protocols that do the insciptions better and use the space in a much more efficient way so I don't know if BRC-20 will end up being adopted as the standard. As far as meme coins are concerned tho its incredible the gains you see from folks on social media, etc, sometimes you wonder if its real but then again it is crypto and anything is possible lol

With the BRC-20 tokens taking up the majority of the block size on transactions sent to the bitcoin blockchain in the past three weeks causing chaos and having users of bitcoin paying enormous fees, one of the first exchanges in the US have had enough.
They sent their customer base newsletter out in an email late yesterday about a certain token known as pepe.
The email entails and describing the Pepe meme as a hate symbol co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community.
source: https://cointelegraph.com/news/coinbase-calls-pepe-a-hate-symbol-prompting-calls-to-boycott-the-exchange
Only 24 hours ago the pepecoin backers with the community on twitter were asking Coinbase to list the BRC-20 token on their exchange with screen captures of the symbol on their own webpage, either real or photoshopped on several of crypto influencers twitter feeds.
But now they are all up in arms against the American exchange with these mass emails being sent out with no hope in sight for their beloved green frogfaced meme which was created back in 2005 and made the rounds on huge online media sites such as reddit and 4chan.
https://www.coindesk.com/business/2023/05/11/coinbase-newsletter-flags-rise-of-pepecoin-and-brc-20-tokens-irks-crypto-twitter

Since then, there was some news about pepe & memecoins topping Coinbase in trading volume just today.
Uniswap Volume Leapfrogs Coinbase Thanks to Pepe and Meme Coins
https://decrypt.co/139594/uniswap-volume-leapfrogs-coinbase-pepe-meme-coins
"Uniswap still looks to be slightly ahead of Coinbase, with $1.2 billion volume compared to the San Francisco-based exchange’s $948 million."

Very interesting how these tokens which have no utility or intrinsic value except to the one's holding it, has up ended the king of all crypto and has caused a flurry of problems for the over 14 year cryptocurrency.

 Somebody really wanted that sat.  Why? I do not understand.

https://ord.link/70623833

The highest reported revenue of the US-operating cryptocurrency exchange of 1.638 billion US dollars for the fourth quarter is much more than the predicted figure of 1.321 billion US dollars. This performance reveals a 72% jump from the last quarter showing the company’s determination and capability to take the most out of the digital assets’ varying popularity.

As much as we like to believe that, there's a lot of people that don't believe that and they still think that these meme coins are their way of making something big for themselves, a lot of these people are so ingrained with the FOMO from Dogecoin that they're going to buy all the other meme coins out there in hopes that it's going to be the next Dogecoin without any regard from the fact that it's probably just some small group that are creating these meme coins from time to time to entice those suckers for more of their money, definitely there's a rigging in meme coins but people don't learn or they're ignoring it altogether because they want to believe in the impossible.

It took 203 days for Coinbase’s Base network to notch $1 billion in total value locked but only 25 days to reach $2 billion

Ethereum layer-2 network Base’s total value locked (TVL) has doubled in less than a month, reaching $2.13 billion, while commentators say it could become the next epicenter for memecoins.

“There are going to be several billion dollar memecoins on base that will get an easy listing on Coinbase and goto all the normies,” said X user Wizard Of SoHo to his 97,000 followers.