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We have all seen them on every exchange, from Dogs to Goats to Moons and everything in between, Meme coins are gaining traction. The issue with Meme coins are not only are they selling, but the majority of the crypto hemisphere is at odds with these cute fluffy tokens. After several heated discussions with moderate investors and actual creators and managers of crypto currencies, I came to my own conclusion about meme coins.
Call it a theory, if you rather, but I don't see the problems with these tokens like a majority in crypto do. In fact, I have embraced these tokens for the most part and will continue to browse the selections looking for a possible gem, but not because I think they'll make me rich but because of a more simpler ideology. Disruption.
See, I believe that Satoshi Nakamoto did not intend for Bitcoin or crypto as a whole to become centralized. By centralized, I mean having extremely powerful banking institutions buying and accumulating bitcoin and other currencies.
I don't believe Banks are going to have a positive effect for a long time to come, because they have a much wider field to play in than the rest of us small time investors. The real backbone of crypto was never banks but the average everyday people who believe in Blockchain and they are the ones paying the price for market downfalls, not banks and mega investors.
Then enters Meme coins.
I don't think meme coins were intended to be what they have become and I doubt many of my readers are going to agree, but meme coins do in fact serve a purpose. Maybe not actual use cases as you might think, but rather a very important tool for crypto. Almost priceless to be honest.
Meme coins can have a very positive effect for the industry and I doubt many exchanges will see it that way, but in my opinion they can and do have a use that can actually help our industry.
I don't believe in trickle down economics, in fact I find the entire idea to be a joke. Make the wealthy wealthier and the poor will be better off? I'll pass.
I do believe in trickle up economics though and I think of these coins as a possible avenue to build crypto well beyond what we have seen since 2017 to now. These cute fluffy do nothing tokens have brought a ton of people into crypto and I'm not just talking about DOGE or SHIBA. These tokens have created their own hemisphere in the industry and from everything I am learning and witnessing, Meme coins are actually becoming more like collectable tokens more than commodities. Sure they have some value and could possibly make someone very wealthy, but these cute token tag graphics are actually appealing to those just getting into this industry and they seem to be sought after by new investors much more than the coins ranking in the top 10. Which I find interesting.
The real purpose behind meme coins, isn't what we all think. I actually see them as a duel purpose token and I think once you read what I have to say, you might agree.
Meme tokens serve two similar purposes.
First of all they serve as a disruption of the common streams of money flowing in and out of crypto. They allow for very modest, almost risk free investing, which also helps new investors coming into the realm. These tpkens can make money for new investors too, maybe not in the millions, but to see 50USD turn into 1000USD isn't a bad experience, is it? The point is, these cheap ultra high MC tokens can actually teach people and help drive more crypto users into the web (Industry), so to speak.
The second purpose they serve and I hope you'll agree, is that they allow for wealth distribution. Something Satoshi Nakamoto was really up to when he created Bitcoin. Personal financial freedom. While not all of those tokens and perhaps only a few select ones could actually make anyone wealthy at this moment in the industry and how the market is playing out, but the opportunity exists and therefore I think Crypto should embrace these "useless" tokens.
Imagine if you can, if several thousands people suddenly wake up tomorrow millionaires because of some meme token going up 20,000%, then those same now wealthy investors have play money to invest back into crypto and their own lives. See, the economy behind crypto isn't just blockchain based, blockchain needs investors and money flowing into the space in order to keep building value. Meme coins can serve this purpose, even if they weren't intended to do so, they do in fact and can serve a purpose. Wealth distribution from useless tokens? Yes... because after all, Bitcoin was useless once too.
These are my thoughts. Enjoy.
