This Week in Crypto

Things you didn’t know (or did you?).

Meme coins have no intrinsic value .

When we say that they don’t have intrinsic value, what we actually mean to say is that these aren’t utility coins.

They’re not gatekeeping any kind of technology or service. There is no practical value in owning these coins other than being a part of the community. 

Keep in mind that their value is primarily driven by community sentiment and speculation. So, if you see yourself as someone who can recognize an upcoming trend, someone who always has the most upvoted comments on threads, etc., this might be the right investment for you.

Instead of making complex financial or technological assessments, all you have to do is try and figure out what other internet users are going to find appealing or relevant. For someone who spent so much time online, it was about time you got some practical use for it. 

When investing in meme coins, you have to understand what this is all about. You’re not going to get rich from a meme coin, and this meme coin that you’ll buy dirt-cheap won’t become the next BTC, eventually reaching the market value in hundreds or thousands of dollars. 

Second, while you may be good at researching and reading online sentiment, you won’t be able just to tell which coin will explode and put all your money into it. It doesn’t work that way. 

If this is what you want, if you seek the thrill, there are better ways to get it. Just look for one of those anonymous casinos and put your money there. Your odds will be the same (maybe even better), and you won’t have to wait to get the outcome.

Meme coins have the potential to be profitable, but they primarily exist for community-building. The sooner you acknowledge that the better your relationship with crypto will be.