What crypto investors laughed and cried about – a weekly review of memes

CONTENT

  • Crypto community members criticized Ethereum

  • Bitcoin’s future has been compared to the toilet paper crisis during a pandemic

  • Bitcoin price falls, but investors continue to believe in growth potential

International consortium of news organizations developing transparency standards.

The next week was eventful. While the media were publishing news, cryptocurrency investors and members of the crypto community were actively discussing current topics on the network. Find out what events triggered the creation of memes, and which ones led to criticism of popular projects, from our material.

On Monday members of the crypto community continued to discuss the prospects for the YAM DeFi project, which managed to attract the attention of crypto farmers (a group of investors whose main task is to maximize earnings on DeFi projects). Recall that after the rapid growth of the startup token, the coin collapsed by 99%.

Many YAM investors have lost their funds. However, the crypto community apparently hasn’t learned a lesson. The next in line was the $ MEME DeFi project. Bobby Ong, co-founder of digital asset market data aggregator CoinGecko, was one of the first to see heightened interest in the initiative..

I thought we are done with this crazy week but the community thinks otherwise. First we have serum, then yam, then curve and now pineapple degenerate meme! This is super fun! pic.twitter.com/4BdeOXOLkL

– Bobby Ong (@bobbyong) August 15, 2020

The team of the popular digital asset exchange Binance, in turn, drew attention to the growing popularity of altcoins amid a decrease in the level of dominance of bitcoin in the digital asset market..

Bitcoin dominance level graph. Data: CoinMarketCap

On their Twitter, Binance representatives showed how they see altcoin lovers. In the post, the platform team is obviously hinting that distributing an investment portfolio among a large number of cryptocurrencies is not a good idea..

Friend – “What alt bags are you holding?”

You: pic.twitter.com/DYWCA1VojZ

– Binance (@binance) August 16, 2020

Recall that the exchange has its own token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More – BNB. Whether, according to the Binance team, it extends to their cryptocurrency – history is silent.

Tuesday all the attention of the crypto community was focused on the active growth of the bitcoin rate. For the first time in a long time, the cryptocurrency consolidated above the level of $ 12 thousand. Against the background of the positive movement, the well-known analyst in the crypto community Willie Wu drew attention to the fact that the coin approached the local maximum, which was registered in the summer of 2019.

Here’s the history of breaking previous all-time-high monthly closes. If we close this month above 14k, it’ll get fun.

I first saw this chart drawn by @Pladizow pic.twitter.com/hb24DK6VSf

– Willy Woo (@woonomic) August 17, 2020

Wall Street star Dave Portnoy, amid rising prices in the digital asset market, did not miss the opportunity to draw investors’ attention to the power of his voice.

Pump up the $ oxt

pic.twitter.com/4ajt7oXAhz

– Dave Portnoy (@stoolpresidente) August 17, 2020

Recall that on the eve of the breakthrough of the level of $ 12 thousand by bitcoin, the trader has repeatedly published positive forecasts for BTC in his blog. At the time of this writing, over 1.7 million people have signed up for Dave Portnoy. For comparison, the Twitter audience of another popular character in the crypto community, John McAfee, who has been repeatedly accused of organizing pumps and dumps on the market, is 1 million. 

Against the background of the positive movement of bitcoin, a large number of memes have also appeared on the network, the authors of which criticize other popular cryptocurrencies. Ethereum fell under the distribution. Samson Moe, Director of Strategic Affairs, Blockstream, drew attention to the excessive complexity of the technical component of the project.

Wednesday began for investors with sad news – bitcoin again fell below $ 12 thousand. Against the background of the negative movement in the rate of the most capitalized cryptocurrency, members of the crypto community were optimistic. One Twitter user projected the situation with the toilet paper crisis during the coronavirus pandemic on Bitcoin. In his opinion, the same will happen in the digital asset market: the number of buyers will grow exponentially, and there will be fewer offers to sell cryptocurrency..

Remember the toilet roll saga?

That’s #Bitcoin in a few years.

End. pic.twitter.com/xlyob6Tx4f

– Daniel Prince.sov (@ princey1976) August 18, 2020

Old Man Laughing (Bitcoin)

Recall that a total of 21 million bitcoins will be mined. BTC mining speed decreases approximately once every 4 years. Such an event is usually called halving. Reducing the rate of bitcoin mining, coupled with a limited number of coins, creates a shortage, which can lead to the effect of “empty shelves of toilet paper” in the future.

While some members of the crypto community pondered the future of bitcoin, others celebrated 12 years since the registration of the creator of BTC Satoshi NakamotoIn 2009, someone (one person or a group of developers), hiding under the pseudonym Satoshi Nakamoto, revolutionized the digital … More domain Bitcoin.org – the official website of the crypto project.

Fun #Bitcoin facthttps: //t.co/8eBAsF1XcX was registered by Satoshi 12 years ago today

– Danny Scott (@CoinCornerDanny) August 18, 2020

Also on Wednesday, members of the crypto community continued to discuss the prospects for Ethereum. Investors’ particular attention was drawn to the tweet of one of the co-founders of the project, Vitalik Buterin, in which the developer admits to selling his share of ETH for US dollars.

Trader Max Kaiser, popular in the crypto community, called Vitalik Buterin’s act an exit scam (the term is used in relation to teams of fraudulent projects that collected investor funds and disappeared in an unknown direction).

As confirmation of his theory that Ethereum has signs of scam, Max Kaiser also cited a recording of interviews with the project developers. In the video, startup co-founder Joseph Lubin cannot correctly answer the host’s question about the scalability of the cryptocurrency. 

Exit scam https://t.co/XkFKUK0WsA

– Max Keiser (@maxkeiser) August 19, 2020

It is noteworthy that Ethereum came under a wave of criticism amid negative statements about the project of the popular cryptographer Adam Beck, whom many consider Satoshi Nakamoto. 

Read also: Top “live” and “dead” cryptocurrency scams

What crypto investors laughed and cried about - a weekly review of memes

Thursday did not bring positive changes – bitcoin will continue to lose ground. Against the background of the negative movement of the BTC rate, many media presented their point of view on what is happening. Bloomberg was among them. The article attracted special attention from The Block analyst Larry Cermak. He noted that incorrect information is presented in the Bloomberg material. For example, journalists claim that bitcoin has dropped to a two-month low while in fact the cryptocurrency recently updated its 2020 high..

“Have you smoked again at Bloomberg?” – with this question Larry Chermak turned to the editorial board of the magazine.

Amid the fall in BTC, the crypto community was supported by the co-founder of Morgan Creek Anthony Pompliano. He presented his vision of the prospects for bitcoin in a meme in which the coin goes through all the obstacles in its path, smashing central banks and reaching new highs in value. 

Great meme. Even better message. pic.twitter.com/NQE79jRbYq

– Pomp (@APompliano) August 19, 2020

Crypto community members, meanwhile, continued to discuss the advantages of bitcoin over traditional assets. On Thursday, a post gained popularity on the network, in which a Twitter user compared the convenience of moving BTC to gold.

Transporting bitcoin vs transporting gold pic.twitter.com/jq1hgfapC5

– Neeraj K. Agrawal (@NeerajKA) August 19, 2020

Friday started for bitcoin with attempts to recover from the fall, but the efforts did not work. Despite the negative movement of the BTC rate, the crypto community activists have not lost faith in digital coins. Against the background of bitcoin’s attempts to recover above the $ 12 thousand level, netizens decided to recall “the best call to buy cryptocurrency.” The championship, in the opinion of many, is rightfully occupied by Christian Langalis, who also gained fame as the Bitcoin Sign Guy (the guy with the inscription about Bitcoin).

Recall that the young man was famed for his act. During a speech by the chairman of the Federal Reserve System Janet Yellen, he showed behind her a sign that said “buy bitcoin”.

The world’s most powerful call to action is

Buy Bitcoin pic.twitter.com/bO4fAL3SVx

– PierreRochard.com (@pierre_rochard) August 20, 2020

While some recalled the best Bitcoin ads, the attention of others was drawn to Twitter by one of the most scandalous members of the crypto community, developer John McAfee. On his page on the social network, a man posted a video in which he is learning Russian.

https://twitter.com/officialmcafee/status/1296716279945089024

One commentator suggested that John McAfee started learning Russian because his job is related to working for Russians. The developer did not refute the assumption.

Also, Friday was remembered by many appearances in the media of a portion of news about the crypto city of the popular singer Akon. Netizens were surprised because practically nothing was known about the project for a long period of time. Many believed that the singer had long since abandoned the initiative..

“Am I living in the matrix? Is this a reissue of the article from 2017? “, – noted some users while others began to joke about the fact that the world is simply stuck in time.

Recall that the rap artist has been building his crypto city since 2018. Learn more about the initiative and other celebrity projects from our material.

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What crypto investors laughed and cried about - a weekly review of memes
What crypto investors laughed and cried about - a weekly review of memes
What crypto investors laughed and cried about - a weekly review of memes
What crypto investors laughed and cried about - a weekly review of memes

A deeper dive into trading emotions for #cryptocurrencies #stocks and #silver

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