Crypto memes are the most hilarious on the world wide web (change my mind). At the same time, you don’t need to be a crypto nerd to laugh at them. I’ve gathered the freshest and slightly older crypto memes and explained what’s so funny. Let’s go!
1. Carlos Matos & “BitConneeeeeeeect”
Let’s start with this never-dying meme in crypto. During the 2017 crypto bull market, BitConnect went from $0,17 to a high of $436, becoming one of the top 20 cryptocurrencies in the world. BitConnect, however, was a classic crypto scam. The project guaranteed profits of at least 91%. Therefore, it was hard not to be skeptical. Yet, many people fell for it, and BitConnect became one of the largest crypto scams in history.
BitConnect produced probably one of the greatest memes in crypto when Carlos Matos appeared at the company’s first annual ceremony in Thailand. Carlos initially seemed to be just an investor in this project. But Matos became the face of crypto scams. As a crypto enthusiast, I’d put this meme in my “Evergreen” folder.
2. Ethereum Gas Fees
Ethereum gas fees have spiked dramatically during this bull market. But what is the Ethereum gas fee? In short: there are thousands of applications built on the Ethereum network. If you want to use one of those applications, you need the “gas.”
The Ethereum network uses a consensus protocol called Proof-of-work (PoW). As a result, the network can only handle a limited amount of transactions per second. Therefore, miners validate higher-paying transactions first. To put this in perspective, the writer once paid over $80 for a single trade on Uniswap. In other words, the fees get huge these days.
To make the Ethereum network work for regular people, it has to be way faster and cost-efficient than it is today. That’s why there is a lot of debate about “ETH-Killers” that are way faster than ETH but are more centralized. Binance Smart Chain is an example of that.
These memes won’t make it to the evergreen status unless the Ethereum team succeeds to fail in delivering scaling solutions for Eth2.0.
3. “Bitcoin has no value.”
Clearly, the price of €50,000 per bitcoin proves that it doesn’t have any value (at the moment of writing, according to the Coinmotion prices). Crypto enthusiasts call people who say things like that “boomers” (even if they are not close to the retirement age yet).
A boomer billionaire Øystein Stray Spetalen went from saying “bitcoin is nonsense currency” to investing $50 million into bitcoin in a week. He also joined the board of Norway’s largest crypto exchange.
Whoever convinced Øystein about bitcoin, we need them to persuade Peter Schiff next.
4. Peter Schiff & Crypto Memes
Peter Schiff is an American stockbroker, financial commentator, and radio personality. He also sells gold and obviously thinks gold is a better asset than bitcoin.
As a result, crypto enthusiasts and Peter have had a hilarious debate on Twitter. By Q1 2021, bitcoin has massively outperformed gold in terms of fiat gains. That inspired a lot of memes about Peter defending gold against bitcoin.
Even Peter’s son, Spencer Schiff, bought bitcoin and tried to change his father’s mind about BTC. As far as we know, Spencer Jr. has failed to do so. But I still think Peter Schiff has secretly invested in bitcoin just in case.
No-coiners are usually the people who don’t want to own or buy bitcoin and are jealous of others’ crypto gains. When you hear things like “bitcoin is a scam” or “bitcoin has no value,” chances are, you’re in a close proximity to a co-coiner. They are convinced that “everyone who invested in bitcoin will lose all their money when it goes to zero.”
Well, that sounds logical. I, however, doubt this is likely. Regardless, true bitcoiners will marry their bag and HODL.
6. Elon Musk & Crypto Memes
Tesla CEO Elon Musk has been trolling the crypto space since the beginning of 2021. He started tweeting memes about Dogecoin. Dogecoin was created initially as a payment system that is instant, fun, and free from traditional banking fees. This crypto coin features the Shiba Inu dog’s face from the “Doge” meme as its logo and namesake. Later on, Dogecoin has become the “meme coin” of crypto.
Of course, Dogecoin’s price skyrocketed after one of the world’s richest men tweeted about it repeatedly. However, Dogecoin is trading at $0,05 at the moment of writing, according to Coinmarketcap. Will it go to the moon after all?
7. “When moon?”
A question that comes up often when talking about new crypto projects and bitcoin. The asker usually wants to know when a particular coin will dramatically rise in value compared to fiat currency. Here is a music video about when moon topic.
Crypto Meme Bonus: Non-fungible Tokens (NFTs)
This is not a proper meme, but I wanted to insert it here anyway. This sketch explaining NFTs made by the Saturday Night Live cast is pretty good. Make sure to watch it even if you already know what NFTs are. The sketch makes a statement that crypto is going mainstream.
New Crypto Memes
There is so much happening in crypto that people produce great memes almost every day. Here is the daily source for your crypto memes needs:
Disclaimer: Instagram is an excellent place for memes, but many people also give you crypto investing advice there. Beware and use reliable sources for your research to make investment decisions.