#11 Memecoins or Community Coins, does it matter?

Today is about a very divisive topic - memecoins or shitcoins or community coins as they're sometimes called.

It seems there are only two emotions these coins evoke, either love cos you made (or hope to make) money for nothing, or hate cos they pollute our feeds and are pump'n'dump schemes that make no sense in 99.9% of the cases. 

I've intentionally used both ways of spelling these in the headline because memecoins are with us longer so we made it a word. Makers and marketers of the newest iterations started calling them community coins to separate somehow good from bad. 

But no matter what you call it, it's still a zero-sum game.

I'm surprised by how many people bought into the marketing narrative that you can trade these profitably and that "if" the right community pushes them they will moon and make you rich and eventually become useful tradable assets. I don't know about you, I love fairytales, yet I don't expect Santa Claus or golden fish with three wishes to appear IRL. 

I like statistics and finance and all these numbers are against zero-sum games like this. But I have to admit that most of the financial market games (and DeFi games) are zero-sum by nature. Someone has to take $$ from someone else to get a positive result of the trade. And this is the only thing I wish everyone would understand when they engage in the fun trading gamble with any meme coin. 

Funny enough, when you ask people directly if they know what the price will be tomorrow, they'll mostly say that they don't know, yet when you ask about whether they're selling their memecoin of choice, they will say they have conviction and believe in the coin. Which is like saying that the price is too low and they know it will go higher. 

Sure, you may come out on top and be a hero of the day because you held. Exceptional situations may happen that some of them will go up and will stay up or will go down and up and even higher, but there's really no guarantee and there is no value or substance on which anyone can base the statement that the price is too low on.

They are really just big, big gambles.

What about you - what's your memecoin of choice and on which chain?

Let me know on Farcaster! Or find me on Twitter/X or LinkedIn!

Till tomorrow! 🤠