You’re thinking, wtf are you talking about? Yams? Donuts? Rare Pepes?! What a strange time we are living in, indubitably. In the latest book I’ve read, “The Internet of Money”, Andreas Antonopoulos discusses how there will be a coin for literally everything. This paragraph below is quite lengthily, I urge you to read it all.
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The Internet of Money, Page 67, 7.2.1. – Inventing Currency on the Playground
“This happens in human societies whether you have formal currencies or not. If you don’t have a currency with a stamped face on it, you invent it. One of the things that really captivated me was understanding that if you have a primary-school environment and you watch children in their natural habitat (a very unnatural habitat in most schools), young children don’t have currency, and they don’t understand currency. But they invent currency. They start trading. Rubber bands, Pokemon cards, Tamagotchi, tokens of affection, tokens of popularity. Humans create currency as a means of expressing their desires,
of expressing their individuality. I thought, What happens when a five-year-old in a primary school can use a website to create Joeycoin to compete against Mariacoin in a game of popularity within their school?
Then it dawned on me: To ask the question, “How many currencies will exist?” is equivalent to asking
the question, “How many bloggers will there be on the internet?” The answer is simple: all of us.
Currency is now a means of expression. But if everyone can create a currency, how does it derive value and what does it mean? What is the difference between currency as an expression of popularity, as an expression of desire, as a meme, a fad, a brand? Down there right now, Andreas points outside of auditorium , a Canadian teen idol contest is running. One of those contestants, Amir, has a big fan group. Maybe he wants to create AmirCoin so that his fans can express their desire to watch more of his dancing. Why not? People have talked about me doing AndreasCoin. I think it’s a bit silly. But, why not? I think at some point we’re going to see things like that happen.
We’re not going to have hundreds of altcoins. We’re not going to have thousands of altcoins. We’re going
to have hundreds of thousands, and then millions of altcoins. Then, there will be thousands of altcoins
being created every day to organize local communities to express fads, to create popularity contests, to
codify the latest internet meme.
“We’re not going to have hundreds of altcoins. We’re not going to have thousands of altcoins. We’re“The Internet of Money”, Andreas Antonopoulos, page 67
going to have hundreds of thousands, and then millions of alt-coins.”
What an interesting time we live in. Coins like YAM, Rare Pepe, & Donut are coming into existence as a form of idea, as a form of expression. Take a second and think about that concept. Money is becoming a form of expression. What a time to be alive.
Remember guys, these coins are by definition, meme coins. They seldom have an actual use case and are mostly just fads. What’s amazing is big crypto Twitter figure heads are shilling these new ideas without disclosing the abusrdly high amount of risk. I’m not saying this as a meme, actually take this next sentence into your brain. DO NOT INVEST MORE THAN YOU CAN AFFORD TO LOSE.
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