Memecoin and utility - impossible or next stage of crypto development

dunfida

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Quote from: wxa7115 on January 08, 2023, 11:56:02 PM

Quote from: tygeade on January 07, 2023, 04:30:33 PM

Quote from: kotajikikox on January 04, 2023, 09:44:00 PM

Yet? the question is that Does meme coin worth investing at least for long term? when you admitted that this has no Utility use than those traditional currencies?

I'm afraid that this would ever had a great effect on to the whole market , I believe that this will only be used but not that big thing for the whole market.

and my answer? is impossibility to be the real next staging.

It's true that it's not worth investing right now and it will not be worth it in the future neither. It's just not a good investment and anyone who thinks that they could make a profit from it will not be happy when they see prices of all else go up, and their memecoin doesn't get up that much because it was only high for a moment due to hype and it's no longer hyped hence why it's not going up anymore.

I believe that the best thing to do would be staying away from it if we can, not going to be simple to make profit with other stuff, like bitcoin because it doesn't go up that much, but it will be possible if we wait for it just a few years. Takes longer but at least realistic approach.

The easiest way to keep yourself away from meme coins is to have realistic expectations about the profits which are possible to obtain on this market, from the bottom bitcoin at minimum will give 500% in profits during the next bull run.

If 500% in profits is too small for some investors out there, then they should not look for coins promising to give more profits than that as this is a waste of both time and money, instead they should increase the capital they are planning to invest in bitcoin and other good coins as doing this will increase their profits as well.

We know that there are people whom do really love to play with fire or something that has higher risk because there are tendencies which they could earn up even on a thousand multipliers if ever those choices had

been pumped up by some whale or something that been hyped up by the community.This is their main consideration on why they do make out such move or step which most people would say
or make out some advise that it isnt really that recommended.

Back to past where Dogecoin isnt that much recognized nor have that attention yet its utility isnt something that revolutionary until the time comes that it has been hyped
and new and old meme coins next in line are trying to get that attention too.

wxa7115

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Quote from: tygeade on January 07, 2023, 04:30:33 PM

Quote from: kotajikikox on January 04, 2023, 09:44:00 PM

Yet? the question is that Does meme coin worth investing at least for long term? when you admitted that this has no Utility use than those traditional currencies?

I'm afraid that this would ever had a great effect on to the whole market , I believe that this will only be used but not that big thing for the whole market.

and my answer? is impossibility to be the real next staging.

It's true that it's not worth investing right now and it will not be worth it in the future neither. It's just not a good investment and anyone who thinks that they could make a profit from it will not be happy when they see prices of all else go up, and their memecoin doesn't get up that much because it was only high for a moment due to hype and it's no longer hyped hence why it's not going up anymore.

I believe that the best thing to do would be staying away from it if we can, not going to be simple to make profit with other stuff, like bitcoin because it doesn't go up that much, but it will be possible if we wait for it just a few years. Takes longer but at least realistic approach.

The easiest way to keep yourself away from meme coins is to have realistic expectations about the profits which are possible to obtain on this market, from the bottom bitcoin at minimum will give 500% in profits during the next bull run.

If 500% in profits is too small for some investors out there, then they should not look for coins promising to give more profits than that as this is a waste of both time and money, instead they should increase the capital they are planning to invest in bitcoin and other good coins as doing this will increase their profits as well.

KennyR

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Quote from: tygeade on January 07, 2023, 04:30:33 PM

Quote from: kotajikikox on January 04, 2023, 09:44:00 PM

Quote from: casper_crypto on January 01, 2023, 06:30:26 AM

Overall, while memecoins may not have the same utility as more traditional cryptocurrencies, they can still serve an important role in facilitating creativity and community building online.

Yet? the question is that Does meme coin worth investing at least for long term? when you admitted that this has no Utility use than those traditional currencies?

I'm afraid that this would ever had a great effect on to the whole market , I believe that this will only be used but not that big thing for the whole market.

and my answer? is impossibility to be the real next staging.

It's true that it's not worth investing right now and it will not be worth it in the future neither. It's just not a good investment and anyone who thinks that they could make a profit from it will not be happy when they see prices of all else go up, and their memecoin doesn't get up that much because it was only high for a moment due to hype and it's no longer hyped hence why it's not going up anymore.

I believe that the best thing to do would be staying away from it if we can, not going to be simple to make profit with other stuff, like bitcoin because it doesn't go up that much, but it will be possible if we wait for it just a few years. Takes longer but at least realistic approach.

Few memecoins have gained value through the support from the Influencers. In real-time these coins doesn't have any specific usage. These are like seasonal market creators. Same as the memecoins is the fan tokens. Investing on these kind of coins were kind of gamble. Lucky ones makes the best and the rest keep the tokens looking for something out of the investment.

tygeade

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Quote from: kotajikikox on January 04, 2023, 09:44:00 PM

Quote from: casper_crypto on January 01, 2023, 06:30:26 AM

Overall, while memecoins may not have the same utility as more traditional cryptocurrencies, they can still serve an important role in facilitating creativity and community building online.

Yet? the question is that Does meme coin worth investing at least for long term? when you admitted that this has no Utility use than those traditional currencies?

I'm afraid that this would ever had a great effect on to the whole market , I believe that this will only be used but not that big thing for the whole market.

and my answer? is impossibility to be the real next staging.

It's true that it's not worth investing right now and it will not be worth it in the future neither. It's just not a good investment and anyone who thinks that they could make a profit from it will not be happy when they see prices of all else go up, and their memecoin doesn't get up that much because it was only high for a moment due to hype and it's no longer hyped hence why it's not going up anymore.

I believe that the best thing to do would be staying away from it if we can, not going to be simple to make profit with other stuff, like bitcoin because it doesn't go up that much, but it will be possible if we wait for it just a few years. Takes longer but at least realistic approach.

Tigerheart3026

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Quote from: bittraffic on January 04, 2023, 10:30:23 AM

Quote from: Johnyz on January 04, 2023, 10:12:56 AM

Quote from: Pierre 2 on January 04, 2023, 09:40:59 AM

I think memecoins may have utility of donations and maybe gambling. These are main 2 areas I can think of. As memecoins tend to use very cheap and quick Blockchains, they can be very useful methods of donating people or funding (similar to patreon). Same utilities may be very beneficial for online casinos as well, I especially love cheap withdraw options. These are main problems that can be solved through memecoins and their fast blockchains.

LTC and XRP also offer a faster transaction at a lower fees, I'd rather go to this option than to use those memetokens.
Donation drive might also trigger greed and probably that memetoken will ended up as a scam project just like the other projects before. Only DOGE seems to be more successful when it comes to utility as many gambling site accept this one but if we are going to talk about new memetoken here, I guess its too risky to deal with them in a bear market where hype is not that effective.

Never really saw a platform where people send Doge as a tip for a meme. Doge has considerable value if indeed people send tips to users who create memes, many users will really be creating lots of memes.

What I saw in some meme telegram channels was that they were just posting memes in the chat and just users laughing at them. I don't see anyone sends Shib nor Doge. But like any other coins out there, these memecoins has a place for coisn to bet on casinos.

i was joined some telegram channels where they offers giveaway for meme, i am talking about back in 2016. but now i did not find such telegram groups. shiba inu is one of the top meme coin, it’s really promising over others meme coin,
shiba become huge popularity because it’s lots of additional features from any memecoin.

kotajikikox

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Quote from: casper_crypto on January 01, 2023, 06:30:26 AM

Overall, while memecoins may not have the same utility as more traditional cryptocurrencies, they can still serve an important role in facilitating creativity and community building online.

Yet? the question is that Does meme coin worth investing at least for long term? when you admitted that this has no Utility use than those traditional currencies?

I'm afraid that this would ever had a great effect on to the whole market , I believe that this will only be used but not that big thing for the whole market.

and my answer? is impossibility to be the real next staging.

TastyChillySauce00

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The only advantage from the meme tokens were volatility. i didn't see any other advantage from the meme tokens other than it. I did like utilities but i also like pump and dump that happened in the meme token. I got bunch of profit from bonk lol. This meme token based in solana was growing a lot in the last few days. People thought that if meme token was not so useful but for me meme tokens were so useful as a way to make money.
I have been accumulating some meme tokens that based on the solana to anticipate the meme hype on the solana blockchain.
There are so many meme tokens that were starting to increase in the solana blokchain recently.

beerlover

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Quote from: Adbitco on January 03, 2023, 04:31:40 AM

There's something which i do tells most of my friends who are lovers of memecoins, first they should target it the right time to invest, secondly always being active with their media channels and handle to be self informed about their next plan otherwise they would be likely left alone with just an empty token and from my understand i have never seen any memecoin that has ran for long rather than dogecoin before its final decrease. One major thing i really dislike about memes is that they often end with hype most likely pumped and dump.

That is exactly what they are though, they are pump and dump tokens and they are not there to make any money for anyone outside of the project creators. If you think that people could invest into memecoins and make a profit then you should invest into them right now because they are very low and with crypto market going up eventually they should make you more profit than bitcoin considering they are low cap and can easily and rapidly go up.

However, I won't do that because I do not think they are good, not even doge to be fair and certainly not the others. They are all terrible and I am not expecting them to be any good in any soon situation at all.

Pierre 2

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Quote from: Johnyz on January 04, 2023, 10:12:56 AM

Quote from: Pierre 2 on January 04, 2023, 09:40:59 AM

I think memecoins may have utility of donations and maybe gambling. These are main 2 areas I can think of. As memecoins tend to use very cheap and quick Blockchains, they can be very useful methods of donating people or funding (similar to patreon). Same utilities may be very beneficial for online casinos as well, I especially love cheap withdraw options. These are main problems that can be solved through memecoins and their fast blockchains.

LTC and XRP also offer a faster transaction at a lower fees, I'd rather go to this option than to use those memetokens.
Donation drive might also trigger greed and probably that memetoken will ended up as a scam project just like the other projects before. Only DOGE seems to be more successful when it comes to utility as many gambling site accept this one but if we are going to talk about new memetoken here, I guess its too risky to deal with them in a bear market where hype is not that effective.

Well that's dilemma for sure yeah, Ripple and Litecoin are good enough to use instead. Especially Litecoin is the most used one and relatively has great market capitulation.
And yeah the worst risk with memecoins as donation material would be them getting directly dumped. With other good altcoins you will never directly dump a coin. But meme coins are like metal coins ironically, most people see them as extra weight in their wallets so directly convert them to others - this would mean instant dump.
These should be all taken care of if one memecoin should dominate. I see it being very unlikely in near future honestly.

lixer

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Quote from: lobo13hf on January 04, 2023, 10:52:58 AM

I think the only meme coins that facilitate creativity in real practical way is shiba inu, other meme coin like doge quite literally just being used for generating profits and nothing more, it's like just a pump and dump tools.
even though shiba inu may have the same characteristic at least it has some innovation behind it unlike doge that's just gonna stuck like this forever, the doge this day and in the future will be the same.

Afaik, dogecoin doesn't have the ability to create a smart contract. So, even if its community or its devs badly wants it, they can't do anything about it. They just leave it that way while this is possible for coins like shiba inu but that isn't enough to say that they are more creative because they aren't the first to create the project that they are planning.

Dogecoin has its own origin on why it's built and if not only because of Elon then this coin won't be called as a pump and dump but if dogecoin is a pump and dump coin now then what do you think about shiba inu? Don't forget that shib is also being mentioned by famous personalities like Elon and Vitalik. There are even reports about selling, donating and burning the coin.

lobo13hf

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I think the only meme coins that facilitate creativity in real practical way is shiba inu, other meme coin like doge quite literally just being used for generating profits and nothing more, it's like just a pump and dump tools.
even though shiba inu may have the same characteristic at least it has some innovation behind it unlike doge that's just gonna stuck like this forever, the doge this day and in the future will be the same.

bittraffic

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Quote from: Johnyz on January 04, 2023, 10:12:56 AM

Quote from: Pierre 2 on January 04, 2023, 09:40:59 AM

I think memecoins may have utility of donations and maybe gambling. These are main 2 areas I can think of. As memecoins tend to use very cheap and quick Blockchains, they can be very useful methods of donating people or funding (similar to patreon). Same utilities may be very beneficial for online casinos as well, I especially love cheap withdraw options. These are main problems that can be solved through memecoins and their fast blockchains.

LTC and XRP also offer a faster transaction at a lower fees, I'd rather go to this option than to use those memetokens.
Donation drive might also trigger greed and probably that memetoken will ended up as a scam project just like the other projects before. Only DOGE seems to be more successful when it comes to utility as many gambling site accept this one but if we are going to talk about new memetoken here, I guess its too risky to deal with them in a bear market where hype is not that effective.

Never really saw a platform where people send Doge as a tip for a meme. Doge has considerable value if indeed people send tips to users who create memes, many users will really be creating lots of memes.

What I saw in some meme telegram channels was that they were just posting memes in the chat and just users laughing at them. I don't see anyone sends Shib nor Doge. But like any other coins out there, these memecoins has a place for coisn to bet on casinos.

Johnyz

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Quote from: Pierre 2 on January 04, 2023, 09:40:59 AM

I think memecoins may have utility of donations and maybe gambling. These are main 2 areas I can think of. As memecoins tend to use very cheap and quick Blockchains, they can be very useful methods of donating people or funding (similar to patreon). Same utilities may be very beneficial for online casinos as well, I especially love cheap withdraw options. These are main problems that can be solved through memecoins and their fast blockchains.

LTC and XRP also offer a faster transaction at a lower fees, I'd rather go to this option than to use those memetokens.
Donation drive might also trigger greed and probably that memetoken will ended up as a scam project just like the other projects before. Only DOGE seems to be more successful when it comes to utility as many gambling site accept this one but if we are going to talk about new memetoken here, I guess its too risky to deal with them in a bear market where hype is not that effective.

Pierre 2

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I think memecoins may have utility of donations and maybe gambling. These are main 2 areas I can think of. As memecoins tend to use very cheap and quick Blockchains, they can be very useful methods of donating people or funding (similar to patreon). Same utilities may be very beneficial for online casinos as well, I especially love cheap withdraw options. These are main problems that can be solved through memecoins and their fast blockchains.

GreatArkansas

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Quote from: casper_crypto on January 01, 2023, 06:30:26 AM

(....)
Overall, while memecoins may not have the same utility as more traditional cryptocurrencies, they can still serve an important role in facilitating creativity and community building online.

There are some cryptocurrencies claiming the term "meme" in their project just because of the current trend and these coins can differ significantly in terms of their features, purposes, and worth.
For me, Dogecoin will be always the original memecoin, other else are copy-paste projects from dogecoin.
Some memecoins may be legitimate projects with a specific function or intended use, while others may be more lighthearted or novelty projects.

Adbitco

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Quote from: goaldigger on January 01, 2023, 04:53:05 PM

Quote from: casper_crypto on January 01, 2023, 06:30:26 AM

~snip~

Probably the hype is their role in this market, and many can still make money out of it but not all will have the same luck because late comers will always be the one to suffer here and that is what happened to other meme tokens. It you want a real deal, better to look for other projects with utility, there’s a big chance for them to rise and stay longer here in the market instead of following too much hype from meme tokens.

There's something which i do tells most of my friends who are lovers of memecoins, first they should target it the right time to invest, secondly always being active with their media channels and handle to be self informed about their next plan otherwise they would be likely left alone with just an empty token and from my understand i have never seen any memecoin that has ran for long rather than dogecoin before its final decrease. One major thing i really dislike about memes is that they often end with hype most likely pumped and dump.

wxa7115

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Quote from: el kaka22 on January 02, 2023, 02:05:00 PM

I think it is going to end up being a bit of a trouble when people realize that the only thing that kept these coins were hype and nothing else and it's not going to end up being anything better in the long run neither. I get that most of them want it to go on for a longer period of time but it is not going to happen and we will have to focus on just fundamentally strong coins.

If you keep checking meme ones, then your money will turn into a meme itself and you wouldn't want that. It's much better if you could just put it in something serious so that you would seriously make some money, it's much better that way. It's my preference at least, much better that way.

It is interesting that meme coins went from being a joke to be taken by some people so seriously that they invest a great deal of money in them, this was not supposed to happen and yet it does as the allure of profits is simply too big to ignore for some.

However for every person that makes profits with meme coins there are many others that lose everything, but surprisingly people do not seem to care as every time we get a new bull market many meme coins are released hoping to become the new Doge or Shiba.

shinratensei_

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the utility of meme coin that you mentioned is never actually become a thing, meme coins in general is used just for pure speculation, it was never intended for something like that, the ones that invested in meme coin even though also following the trend, always wish good returns in the long run, therefore the reason $1 valuation for doge that many has always been waiting even until right now.
there's no other motivation other than creating quick money so I think it will always be like this.

Vaskiy

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If you talk of the utility of memecoins, it is very rare to see something perfect. Same time it is possible to see few of the memecoins having its usage on some needs. The most used being the dogecoin and Shiba. Dogecoin have got its history, but Shiba reached the market and the hype have good return. Further the team along with the community worked on development and now Shiba is used widely on different needs.

blockman

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No doubt about building a community because most of them are successful in building one. Don't forget the OG of it which is the most popular of them all, Dogecoin.
The community of it has been there and then there goes shiba inu and the others too. I can say that their community is commendable even if we don't mostly like these meme coins. Those that have been part of it are happy and took all of the profits that they can. Investing a bit and then profiting with thousands percentage is one of the best thing that has ever happened to them.
The utility of it being part of the tipping community is one of its use but whether we like it or not, most of them are built upon hype.

Topic: Memecoin and utility - impossible or next stage of crypto development (Read 316 times)