Most "Memecoins" are not even coins, most "Memecoins" are tokens

[ajiz138]

(....)

And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

True. Majority were tokens but doge coin is a coin.

And these new memecoins or all memecoins after Dogecoin are just the same that copied from original memecoin which is Dogecoi. And since these memecoins are just tokens while Dogecoin is a coin, it just clearly shows how Dogecoin is the original memecoin.

Dogecoin is the original meme which is called a coin because it has its own blockchain all memes now imitate dogecoin but memes are now on smart contract networks which anyone can create easily especially on cheaper networks such as BSC and Solana many meme tokens are scattered but they have no function at all.
Meme now only utilizes the eligibility that is hype if there is no such thing then meme tokens will not be valuable at all.

[LogitechMouse]

~
And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

The term "meme coins" has been used by many investors and became popular hence, it was called meme coins, but you're right.
Meme coins doesn't have it's own blockchain "EXCEPT" Dogecoin that has it's own blockchain already, and Shiba Inu is the next on the list (based on a quick google search).

Just imagine calling them "meme token". It's a bit awkward at least for me because the it has been called meme coin and it became popular. To sum it up, a meme coin being called a coin or a token doesn't matter for an average investor especially if they believe that they will make profit in investing in meme coins. Nobody cares whether it's a coin or a token. What matters is profit for most investors. That's the reality.

[andyou1234]

Yes, you are right, there are lots of memecoins out there circulating, so currently the term memecoin is very popular among crypto users, but you need to know, especially for beginners, that many memecoins are currently in the form of tokens, so you have to be careful when choosing a memecoin to use, it's best if you are still a beginner, just look for and choose an altcoin, of course an altcoin that has been registered in several exchanges, and even better choose an altcoin that is in the top 10 CMC.

[electronicash]

so basically, its only dogecoin that passes the criteria for being a memecoin. the rest are meme tokens. they do have a reason for this since it is easier to add these meme tokens on DEXs than the memecoins having their own blockchain.

easier to pump the memecoins on dex, the team itself can try pumping these meme tokens and as soon as people buy them they could just dump their tokens to those who think they could make money out of it.

[Mate2237]

This has been settled for some months or years back and it was clearly state that any coin that is not bitcoin, it is an altcoin and it is spelled as alt and coin, therefore it is a coin. But I am trying to like your explanation because really there some airdrops or memecoins that are not coins. Like you said coin must has it own Blockchain chain and community or forum and but airdrops or memecoins do not have that instead they survive from another platform and like the examples you gave is very good. BNB, and others are not coins per say but a token.

But from my view point Ethereum is coin because all the elements that qualify cryptocurrency to be a coin, it has it. And not like others tht you made mentioned that is not a coin. Solana is also a coin. Though I understand your point of view but when you critically look at it Ethereum is a coin and not a token.

[electronicash]

This has been settled for some months or years back and it was clearly state that any coin that is not bitcoin, it is an altcoin and it is spelled as alt and coin, therefore it is a coin. But I am trying to like your explanation because really there some airdrops or memecoins that are not coins. Like you said coin must has it own Blockchain chain and community or forum and but airdrops or memecoins do not have that instead they survive from another platform and like the examples you gave is very good. BNB, and others are not coins per say but a token.

But from my view point Ethereum is coin because all the elements that qualify cryptocurrency to be a coin, it has it. And not like others tht you made mentioned that is not a coin. Solana is also a coin. Though I understand your point of view but when you critically look at it Ethereum is a coin and not a token.

ETH was just labeled as a smart contract platform but is not distinguished as a coin.  everybody seems to call it a token though.

i'm not sure where the subject is going though. if this is to tell people not to invest in the memecoins/tokens because they are using L1 chain, i think this will still not be heard by those people. all they see is $ and if WIF is worth $3.40 at the time of this writing. i think they are already seeing it will jump to $4 soon.

[albon]

And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

Most fans of these meme coins know that they are shitcoins, and it does not matter if the token with own blockchain or is based on an existing blockchain. These investors know very well that they are tokens with no unique uses, and anyone can copy the source code of any meme coin while modifying the name, logo, and total supply and then launch it. These memes would have an unlimited and extremely large total supply, and none of these meme coins may have any mechanisms for burning tokens, which could make them inactive for years and may turn to zero or lose 99% of their price value. They use these meme coins as gambling and dice for speculative investments, which pose a great risk to holders and are susceptible to manipulation and sharp dumping. They disregard the risks and dream of achieving unrealistic returns, disregarding any other factors like the risks, names, founders, or anything else.

[Zaguru12]

This has been settled for some months or years back and it was clearly state that any coin that is not bitcoin, it is an altcoin and it is spelled as alt and coin, therefore it is a coin. But I am trying to like your explanation because really there some airdrops or memecoins that are not coins. Like you said coin must has it own Blockchain chain and community or forum and but airdrops or memecoins do not have that instead they survive from another platform and like the examples you gave is very good. BNB, and others are not coins per say but a token.

I think you’re misunderstanding the whole thread mate, OP isn’t talking about Altcoins not been coins but rather he is referring to some of them as not qualified to be tagged an Altcoins because they do not have their own parent chain like the likes of Ethereum, BNB and Solana, but rather they are tokens build under this coin’s blockchain. Also the term airdrop shouldn’t be in same category as a memecoin. An airdrop is just a giveaway or reward giving by a project developers for the work or engagement the users did on the project.

Memecoins are just usual coins/tokens but under this classification based in their meme like name or logo. They are mostly pump and dump coins/tokens that shouldn’t be regarded as coin for investment.

[X-ray]

so basically, its only dogecoin that passes the criteria for being a memecoin. the rest are meme tokens. they do have a reason for this since it is easier to add these meme tokens on DEXs than the memecoins having their own blockchain.

easier to pump the memecoins on dex, the team itself can try pumping these meme tokens and as soon as people buy them they could just dump their tokens to those who think they could make money out of it.

aside from that the complexity involved in creating their own blockchain might also be a problem, its different to back then when people just can fork existing blockchain and just rename it, right now if a meme coin doesn't have special innovations or let say altcoin in general where they want to deploy their own blockchain if they don't introduce innovation which usually is really complex to implement using the more modern blockchain that are having smart contract feature they more likely to fail.
most of the devs of meme coin just can't afford to do that.
not to mention that most of meme coin deployed right now are just being deployed using certain tool that don't require coding its just deploying erc20, give it a name and logos and call it a day.
thats it, thats why most meme coin right now are just tokens.

[fullhdpixel]

When it comes to memecoins, it needs to be mentioned: Most "Memecoins" are not even coins, most "Memecoins" are tokens.

Often, it is just a marketing move to designate a crypto asset as "Coin" but in reality, it's a token.


A coin is based on its own, unique Blockchain, like Bitcoin, Litecoin or Dogecoin
A token is based on an existing Blockchain, like Ethereum tokens (for most ICOs) or based on BNB (for many Memecoins).

And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

Honestly, people investing in them barely care about this because all they are looking for is some quick profit or a dream to become rich overnight, so they don't do any research or try to know whether they are investing in a coin or a token, they just do it because they are in a rush to enter as early as possible. After all, there is a common misconception among newbies in this industry which is that those who enter a project early tend to gain a lot of profit.

Memecoin investors don't even check the projects or people behind the tokens they are investing, they just hear it is a meme coin and that it is being marketed, and they make an entry without a second thought. It seems as if they don't care about their money and they either got it for free or won it from gambling or something because hard-earned money can't be invested this easily.

[Mpamaegbu]

And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

While I admit your explanation on what's obvious, I also want you to know that most usecase altcoins you know aren't coins actually but tokens. They don't have their own chains yet. They're floating on the chains of others. For me, that's not a bad thing, anyway. To be sincere, it doesn't change a thing for me provided they present themselves as viable investments.

[DaveF]

All tissues are kleenex
All photocopiers are Xerox
All memecoins are coins.
and so on.
It's just the way it is and as others have pointed out earlier in this thread 99.999% of the people using and trading them for some quick profit and don't care.

Not quite the same but.....
https://www.youtube.com/watch?v=rRi8LptvFZY

-Dave

[Kelward]

~
And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

The term "meme coins" has been used by many investors and became popular hence, it was called meme coins, but you're right.
Meme coins doesn't have it's own blockchain "EXCEPT" Dogecoin that has it's own blockchain already, and Shiba Inu is the next on the list (based on a quick google search).

I think that the genesis of all cryptos in the meme category being called memecoins could be because the first meme, being dogecoin, is a coin, so the name became a catch for others in the meme category, whether it's a coin or token. I guess what matters to memecoins investors is making quick profits whether it's a coin or token doesn't really matter.

I think that Shiba Inu, is next in line like you said, to become a coin like doge, they're planning to launch their own Blockchain, which is a good innovation by their dev. team. There's a thread about it on this forum.https://bitcointalk.org/index.php?topic=5495467.msg64042641#msg64042641

[South Park]

When it comes to memecoins, it needs to be mentioned: Most "Memecoins" are not even coins, most "Memecoins" are tokens.

Often, it is just a marketing move to designate a crypto asset as "Coin" but in reality, it's a token.


A coin is based on its own, unique Blockchain, like Bitcoin, Litecoin or Dogecoin
A token is based on an existing Blockchain, like Ethereum tokens (for most ICOs) or based on BNB (for many Memecoins).

And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.

Your are right, but at the same time all of those people do not really care, what they care about is the money they could make with by investing in those “coins”, so they do not care about things that to them are only a technicality or semantics, because at the end nothing will really change, as I doubt that any meme token that is calling itself a meme coin will change it just to try to be as accurate as possible when describing the project, since if the developers can lie a bunch of times on the white paper, I do not see why they cannot lie about the nature of their token as well.

[strunberg]

Dogecoin is the original meme which is called a coin because it has its own blockchain all memes now imitate dogecoin but memes are now on smart contract networks which anyone can create easily especially on cheaper networks such as BSC and Solana many meme tokens are scattered but they have no function at all.
Meme now only utilizes the eligibility that is hype if there is no such thing then meme tokens will not be valuable at all.

I agree with you. The only meme coin I trust is Doge. Doge has its own network and is the most trusted meme coin today. To be honest I don't like meme coins built on smart contracts. Because it is easy to make, there are many scams from meme coins. You can see news of people losing money because of meme coin projects which, when they are listed on the stock exchange, will be thrown away by their developers. But people don't care because they are tempted by the news of someone who can earn millions of dollars from meme coins.

[el kaka22]

It is true that we are not always going to talk about the same thing, but it is just a term and not really talking about the way of it. Memecoin is just a term that we are talking about, shitcoins are also not real shit . But that is what we call them and I think it's fair to say that memecoin is a good term for them, while they are being a token, we are going to end up being a lot more importantly focused on the real fact, which is that they are all nearly worthless.

As long as we believe that and realize that then we should not be realizing anything else. I believe that we should not put up even a single dollar into any of them and we could probably make as much money from other stuff as we want thanks to that. I believe that's the way out.

[Wexnident]

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Well, it's used interchangeably by people who don't know the intricacies of it, I myself just use coins in general for memecoins cause why the hell not, and in reality it doesn't really matter. Most people only take in the idea that memecoins = quick profit in the short term. Pretty sure most investors wouldn't even think about how a building is made, they just think about how that building can bring profits to their businesses. Same idea here.

Wouldn't even be wrong to categorize memecoins as a pump/dump coins really.

[Belarge]

I agree with you. The only meme coin I trust is Doge. Doge has its own network and is the most trusted meme coin today. To be honest I don't like meme coins built on smart contracts. Because it is easy to make, there are many scams from meme coins. You can see news of people losing money because of meme coin projects which, when they are listed on the stock exchange, will be thrown away by their developers. But people don't care because they are tempted by the news of someone who can earn millions of dollars from meme coins.

Developers and team behind Dogecoin are doing their best. Dogecoin was once regarded to be one the top trends in the market based on the involvement of one top investor and also a whale in the market. He single-handedly control the crypto market, more like manipulation because he bagged in huge quantities and also sell them in such high values. We're referring to Elon Musk who's regarded to be the CEO of Dogecoin and have made several measures to boosts the project with his social and also led to the influence of other top eateries to accept Dogecoin as means of payment.

[FanEagle]

This has been established already obviously, but saying "memetoken" is not that common, so people just say memecoin instead, or basically you can call them all shitcoins. To be fair all memecoins are shitcoins but not all shitcoins are memecoins, which is why calling memecoins shitcoins could confuse some people.

However, I can guarantee you that there is not a single one meme project out there which is worthy of investing a dollar, and I mean literally just a dollar. You throw a dollar into street and don't care, but it wouldn't be even worth as dropping your money on the ground, at the very least if you do that then you know it's gone, but if you buy meme project, you have hope, which causes even further damage emotionally, totally worthless.

[Mate2237]

ETH was just labeled as a smart contract platform but is not distinguished as a coin.  everybody seems to call it a token though.

i'm not sure where the subject is going though. if this is to tell people not to invest in the memecoins/tokens because they are using L1 chain, i think this will still not be heard by those people. all they see is $ and if WIF is worth $3.40 at the time of this writing. i think they are already seeing it will jump to $4 soon.

Even now some people are still calling it as a token and not a coin but one I know in the cryptocurrency industry, their are stages of every project. It's like they started from the stage of airdrop to token and from token to the final stage which the coin . And once it has approved as coin then it has become well known and I thought from the beginning of the Ethereum creation, it was using L2 and not L1. It is Bitcoin that uses L1 .

I have not heard of this WIF and the market price is good. It is $2.89 and which means altcoins prices are following the movement of Bitcoin because as you said the price was $3.40 as of the time of you making the thread and now that Bitcoin price has come down all other follow as well