Crypto sell meme
Remember 'Bad Luck Brian'? The popular meme from the early s showed a yearbook photo of Kyle Craven smiling with his braces. The picture went massively viral after it was first posted on the internet in January by Kyle's best friend Ian Davies. The digital art sale took place on Foundation, a website that sells and boys digital goods to the highest bidder. The sale of the original Bad Luck Brian took place on March 9 and it was won by someone with the name ' a'.
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- Squid ‘meme coin’ collapses after 230,000% gain, promoters flee with $3.38m in sales
- Memes for Sale? Making sense of NFTs
- Meme coins return to earth as gloom overtakes crypto fanatics
- Non-fungible token
- Tales from crypto: A billionaire meme feud threatens industry unity
- 'Side-eyeing Chloe' Clem to sell iconic meme as NFT
Squid ‘meme coin’ collapses after 230,000% gain, promoters flee with $3.38m in sales
Then along came meme coins — the likes of Doge and Shiba Inu. Somebody showed me a wallet the other day. The thing about meme coins is that everyone seems to know they are nonsense, and yet they still get on board for the ride. When they crash, many post their losses on social media. Trading a hype cycle is a perfectly legitimate and effective method of speculating in an asset. Well, yes. If you can do it in some informed way that gives you an edge over everyone else — be it detailed research or some technical method — then you have an advantage.
I suppose this is a loose defence of meme coins. The power of memes is something else — we saw that with Gamestop, Wall Street Bets and Robin Hood earlier in the year. Better get used to them; they are now a feature of the investment landscape.
But a scam is a scam is a scam, no matter how you dress it up, and meme coins HQ is also Scamsville. The coin has absolutely nothing to do with the TV series, except that it shared the same name and so obviously planned to ride on the back of its hype.
For some reason the coin would make a low first thing in the morning and then rise through the day, before dropping back the following morning. And this was a Sunday morning — most of us in Europe were asleep.
Markets are supposed to be closed. This is the short-attention span, instant-gratification generation. It wants its hits now and it wants them big.
Looking at the trading volumes one assumes this was a creation from somewhere in the Far East, and given the Korean provenance of the TV series that would make some kind of sense. But in the murky borderless world of the decentralised internet, who knows where the perpetrators were — and lord knows who is going to police and prosecute this and where. As a result, the media was all over the story.
It only added to the hype. Gizmodo was reporting it as an obvious scam on the Friday morning for that very reason. These scams work on decentralised exchanges by the perpetrators providing enough liquidity, usually in the form of ethereum, to give the impression that there is genuine trading volume.
Others see the liquidity and participate, then gradually the scammers offload their coins. They drain the exchange of liquidity and the victim is left holding the bag. Total trading volumes were many times that. Will this story stop the scams? No matter. The potential to transform your life, to turn eight grand into five billion is too big a lure for most of us. I still buy lottery tickets. Luckily, my finger is too off the pulse of meme coins.
Bank of England raises interest rates to 0. A wage-price spiral is stirring in the UK — what does that mean for your money? Personal Assets Trust update: tech investments drive underperformance. How to position your portfolio for lasting inflation. Skip to Content Skip to Footer. Shiba Inu and Doge are jokes that have created billionaires. Meme coins follow exactly the same psychological journey, only more so. The Bank of England has raised the key UK interest rate again — by a quarter of a percentage point to 0.
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Memes for Sale? Making sense of NFTs
Ryan Haar is a former personal finance reporter for NextAdvisor. She previously wrote for Bloomberg News, The…. For starters, they both have a cryptocurrency named after them. Actually, PutinCoin and Whoppercoin might be the only thing they have in common. Cryptocurrencies like Bitcoin and Ethereum have a growing track record of holding and increasing in value over time, though recent dips have wracked the market , while lesser-known cryptos are considered much more speculative and unpredictable. And while PutinCoin and Whoppercoin belong to a category of cryptocurrencies marked more for their absurdity than their potential as either an investment or cryptocurrency, they show just how unique different types of cryptocurrencies can be. In general, cryptocurrencies can be grouped by utility: What is the purpose of the cryptocurrency?
Meme coins return to earth as gloom overtakes crypto fanatics
We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. To learn more or opt-out, read our Cookie Policy. Calvin Becerra went viral earlier this year for a less-than-ideal reason. Scammers pretended to be interested in buying one of his NFTs in a Discord channel and tricked him by saying they could help him fix a problem with his crypto wallet. During troubleshooting, they raided his wallet. Then again, everything about money feels a little strange at the moment. Or, at the very least, value has rarely felt so disconnected from reality. The concept of value is a fuzzy one, and valuation is often more art than it is science. Psychology has always played a role in money and investing — and there have always been bubbles, too, where the price of an asset takes off at a rapid pace and disconnects from the fundamental value.
Non-fungible token
Is another cryptocurrency winter coming? Investors and analysts increasingly warn about the possibility that this is the case. They have reason to be nervous. Both ether and solana have suffered similar drops. The collapse of the market comes after two years of a pandemic-induced cryptocurrency boom.
Tales from crypto: A billionaire meme feud threatens industry unity
It's no secret that billionaire Elon Musk loves memes. He frequently reposts them on Twitter, where he has 61 million followers. Though some dislike his reposting , as he often neglects to give the original meme creators credit, others have profited from Musk's practice, including self-proclaimed "hobby artist" Eva Beylin. Beylin was thrilled when Musk reposted her meme on Wednesday. Even though Musk didn't give her any attribution, "I am over the moon," she says, adding that she's a big fan of Musk.
'Side-eyeing Chloe' Clem to sell iconic meme as NFT
Image Credit: Beeple. For items that exists only in the digital format, that represents some serious spending. Non-fungible tokens, or NFTs, have emerged as a new class of digital asset that has sparked interest among investors and seen sales worth billions. Does that mean that you can make money from the meme you created. Why not?
Other cryptocurrencies have come along for the ride, and one of the odder beneficiaries has been Dogecoin—heavily promoted on Twitter in the past couple of weeks by Tesla CEO Elon Musk. Dogecoin started in December , at the peak of the first big bitcoin bubble. The idea was to have fun and be silly with a cryptocurrency that was cheap enough to mess around with—each coin was worth a fraction of a cent.
Through much of the pandemic, this description applied to many of the Redditors laughing at this meme. Just to clarify: This is something a human man apparently had inked on his own epidermis, forever. These two memes say a lot about how the retail-investing psyche is holding up at a time when the empire Wall Street, the Fed, universal laws is striking back without mercy. For many, this whole experience has been nothing but fun times with play money all along. Charlie Wells and Misyrlena Egkolfopoulou of Bloomberg News recently caught up with a few of these revolutionaries and found a little less hilarity and a lot more trepidation.
Subscriber Account active since. Over the past few weeks, online sales of nonfungible tokens, more commonly known as NFTs, have taken off, as cryptocurrencies like Bitcoin boomed. Torres remastered the original animated GIF for its year anniversary and ran a hour auction on the crypto art platform Foundation on Thursday. The platform itself had only just launched two weeks prior and allows artists like Torres to continue to profit off their work if a buyer resells the piece later on for further profit. The majority of crypto art platforms use Ethereum as means of payment.
Please change the wallet network. Change the wallet network in the MetaMask Application to add this contract. Degenerator Meme. United States Dollar.
Anyway.
What a nice phrase