Investors seek humor in bitcoin’s failures
The DeFi market has not escaped the emergence of new memes
Users continue to joke about expensive Ethereum transactions
Tesla & Elon Musk Buy Bitcoin – GAME OVER
International consortium of news organizations developing transparency standards.
Another work week brought with it a lot of news. Find out what the digital asset market participants were joking about, and what became the reason for discussions on the network, from our material.
Monday – the last day of August – began for members of the crypto community with a positive movement in the rate of the most capitalized cryptocurrency – bitcoin (BTC). Over the weekend, the coin made up for lost time, and again went into growth. It is noteworthy that amid falling cryptocurrency prices, many critics once again predicted a collapse of Bitcoin. The negative comments and panic of investors who decided to sell their BTC amid a decline in the value of the asset, in his microblog, was ridiculed by the technical director of Casa Jameson Lopp.
“Every time bitcoin dies”.
Every time Bitcoin "dies" pic.twitter.com/4eSqCplOH3
– Jameson Lopp (@lopp) August 31, 2020
Members of the crypto community also decided to support Bitcoin, reminding investors about the peculiarities of investing in a coin..
“Bitcoin is the only way of preserving value for people with wealth that they can truly own. Everything else can be and will be seized by people with pistols or ex-spouses “.
The Wall Street star, Dave Portnoy, took the opportunity to speak out about the worries about the future of Bitcoin. In his microblog, he wrote a comic post in which he notified the readers about the ongoing “research”. In the post, he explained his fascination with the crypto community with a desire to understand their train of thought. In the future, the trader promised to use the knowledge gained to lead the movement of investors in digital assets..
For all my #Crypto friends I am studying you. I am learning the way you think, breathe, exist. And when my giganto brain has figured you out I will re enter the market and conquer you and then lead you. Until then I watch, study, observe and soak it all in. pic.twitter.com/SQiEw9Xeql
– Dave Portnoy (@stoolpresidente) August 30, 2020
TikTok users, meanwhile, continue to joke about how many ordinary people feel about mining. A video has gained popularity on the social network in which a young man explains how his parents see his occupation. Then he demonstrates what cryptocurrency mining really is..
Try explaining mining to your parents #bitcoin #explainbitcoin #btc #bitcoinmining #cryptomining #minecaft #fy #fyp
♬ original sound – Wolf
In Tuesday bitcoin showed a slight increase. Despite the positive movement, the coin rate is still far from the local maximum, near the level of $ 12 thousand. While the most capitalized cryptocurrencies do not please investors with active growth, the participants of the crypto community focused on the decentralized finance market ( DeFi Decentralized finance (DeFi) is financial services built based on blockchain technology that offer users access to an open, efficient and … More). The popularity of a number of protocols has led to an increase in gas consumption on the Ethereum network. The activity of users of DeFi projects became a reason for jokes.
“Traders of Uniswap (the largest decentralized exchange), gas commissions, profits”.
Also, members of the crypto community drew attention to the volatility of earnings in the DeFi market.
“DeFi Market Traders Last Week, DeFi Traders This Week”.
While members of the crypto community ridiculed investors in the decentralized finance market, the popular analyst The Crypto Dog posted a video meme on the adaptation of digital assets in the world.
“We won’t achieve global adaptation until this kid has a few coins.”.
we haven’t reached "global adoption" until this guy has some coin pic.twitter.com/IoMalxEt4N
– The Crypto Dog (@TheCryptoDog) August 31, 2020
IN Wednesday DeFi has remained in the spotlight. This time, the participants of the crypto community focused on discussing the KIMCHI project – a fork of the SUSHI protocol. The project managed to attract almost $ 500 thousand in a few hours, not without the help of crypto farmers. The assets were blocked for the needs of KIMCHI. The monotony of projects and the lack of practical use from them became a reason for jokes. For example, many netizens agreed that such DeFi initiatives resemble “smoker startups”.
#DeFi #Shitcoins #YieldFarming #SushiSwap pic.twitter.com/D6f1WNGe6O
– Bitcoin Meme Hub (@BitcoinMemeHub) September 2, 2020
There were some jokes about the intelligence of investors in such initiatives.
“What are SUSHI investors saying to Bitcoin holders? – Wasabi “.
– Set Animals (@setanimals) September 2, 2020
At the same time, many users drew attention to the fact that the quality of the project does not change its essence, if it can be used to generate income. According to a number of investors, in the crypto space, you can stay poor only if you choose a bad environment..
Thursday presented the participants of the crypto community with an unpleasant surprise in the form of another wave of a fall in the rate of digital assets. Coins showed negative dynamics amid technical problems of two popular exchanges.
The fall in cryptocurrency prices did not diminish investor optimism. One of the founders of the Gemini exchange, Tyler Winklevoss, shared his opinion about Bitcoin with the readers of the microblog. To the public’s surprise, the developer likens the first cryptocurrency to email..
“She has no boundaries and is always active. Any amount of information can be sent via the Internet anywhere 24 hours, 7 days a week, 365 days a year. In the history of mankind there has not yet been an asset with a similar level of portability, ”he wrote in his microblog..
Readers, in turn, drew attention to the fact that to send a letter by e-mail they are not forced to pay a round sum as a commission..
I love Bitcoin, but email doesn’t cost $ 50 to send when it’s busy. Fix the fees. 3 years later, same issues.
– Michael Maloney (@mike_maloney) September 2, 2020
Meanwhile, a meme has gained popularity on the network, which depicts US President Donald Trump considering the S2F model for predicting the movement of the bitcoin rate. The latter was suggested by the popular PlanB analyst.
Recall that the head of America has repeatedly spoken about his negative attitude towards cryptocurrencies. Despite this, the actions of the US President, according to a number of researchers, have a positive effect on the behavior of the exchange rate of coins..
Also, crypto enthusiasts did not ignore the active growth of fees on the Ethereum network. A well-known member of the crypto community, one of the authors of Forbes articles, David Gokshtein drew attention to the fact that soon the fees for transactions with the coin will begin to exceed the amount of transfers.
So, @VitalikButerin you’re telling me that for me to send $ 70 dollars in $ ETH, I have to pay $ 738 dollars in gas fees?
This is beyond ridiculous.
– David Gokhshtein (@davidgokhshtein) September 2, 2020
Despite the rise in the cost of transactions in the cryptocurrency network, the hype around it does not fade away. The fact is that most trending DeFi projects are built on the Ethereum blockchain. The relationship between the decentralized finance market and the cryptocurrency, according to the crypto community members, has a positive effect on the movement of its rate. Against this background, according to many investors, the coin can easily recover its positions and continue to rise to the $ 500 level..
Slide on up to $ 500 pic.twitter.com/KsuDwpM95C
– Josh Rager (@Josh_Rager) September 3, 2020
Against the backdrop of criticism of Ethereum due to high fees, a lot of tweets also appeared on the network in which members of the crypto community ridicule the defenders of the cryptocurrency. Many consider attempts to defend the honor of the project ridiculous.
“The responses you see to your negative comments about Ethereum”
The replies when you say something negative about Ethereum pic.twitter.com/Z8hVwflg5T
– Dr Bitcoin MD (@DrBitcoinMD) September 2, 2020
Also Thursday was not without DeFi jokes. The team of the popular exchange Binance asked members of the crypto community to describe the decentralized finance market in four words. The famous cryptographer Adam Back, who is considered by many to be the creator of Bitcoin, responded to the request..
“Loans, coin giveaways, pumps and dumps,” the developer replied.
Loan, airdrop, pump, dump.
– Adam Back (@ adam3us) September 3, 2020
The risks of investing in DeFi projects were another object of jokes.
“YAM smart contracts, project audit, my taxes in 2020”, – caption to the picture.
IN friday cryptocurrency investors were in for another shock. The bitcoin rate again approached the $ 10 thousand mark. Against the background of a wave of decline in BTC prices, the participants of the crypto community were divided into two camps: some began to panic, others remembered that the coin had already been in this position several times.
Blockstream Director of Strategic Affairs Samson Moe published a post with a gif from the Terminator movie with a caption – a reference to the feed.
“I came from the future to tell you that Bitcoin will be worth hundreds of thousands of dollars per coin. How you will use this knowledge depends on you “.
* Come with me if you want to live (caption to gif).
I’m here from the future to tell you that #Bitcoin is going to be worth hundreds of thousands of dollars per @BTC. What you choose to do with this knowledge is up to you. pic.twitter.com/S7T8NJBGM3
– Samson Mow (@Excellion) September 3, 2020
Many perceived the fall in the coin rate as an opportunity to profitably purchase cryptocurrency.
#Bitcoin sale today!
– Jason A Williams (@GoingParabolic) September 3, 2020
Some members of the crypto community, meanwhile, focused on the search for the BTC rate for a level of support from which the asset could bounce..
Jim Cramer on bitcoin: Elon Musk is driving so much of this market
“Bounce off, please”.
bounce pls pic.twitter.com/CbzX9DQgfx
– CryptoGainz (@ CryptoGainz1) September 3, 2020
Some began to “ask” bitcoin to bounce off the level in order to go up, in rougher terms.
Many investors, in turn, were quick to remind alarmists about the advantages of cryptocurrencies over the fiat market..
We will remind that at the moment the American regulator has chosen the printing of additional lots of dollars as a tactic for dealing with problems in the economy. According to members of the crypto community, an artificial increase in the volume of assets (in this case, US dollars) will lead to a decrease in value. Bitcoin has a strictly limited emission. Accordingly, BTC is protected from inflation.
Find out what the crypto community members laughed at last week from our material.
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