"Meme Tokens - Crypto Academy / S4W7 - Homework Post for @wahyunahrul"

7개월 전

Thank you sir for this great lesson that is based on meme tokens, your deep thrust of knowledge in the world of crypto currencies alone could have bought such topic our way and I enjoyed every bit of knowledge emitted by this work.
I now wish to formally express my understanding of the lesson through this assignment.

20211022_150948_0000.png designed by me from canvas

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1). Why Meme Tokens could be one type of cryptocurrency that will have a big impact on the cryptocurrency market in 2021?

Why I think Meme tokens could be one of the crypto currencies having impact on the crypto currency market in 2021.

Before I start up formally, I wish to explain concisely, the concept of Meme Tokens.

IMG-20211021-WA0019.jpg image from WhatsApp stickers

How I smile when I'm credited twice instead of once. This looks hilarious right?
The idiom "all work and no play makes Jack a dull boy" sounds old fashioned but is an undeniable fact, in reality. In our world today, a little jokes or humor added to a particular art or entity could make it more interesting and easy going and so jokes would easily find its way into every art no matter how complex.

Eg, a mathematical solution that seems difficult and boring could actually get understandable once the teacher implores the use of jokes and other funny explanations.
This happens everywhere, on media, workplaces and even the great "Blockchain" is not left out.

IMG-20211022-WA0000.jpg source

Meme Tokens could be defined, as digital /crypto currencies launched on blockchains, for the intentions of comedy, leisure and entertainment.These coins also were create with the intentions of mimicking the dominant coin of the market ie Bitcoin. We've seen examples of this currencies including the Doge coin, Shiba inu etc.

The reasons meme coins on the other hand, would be having impact on the crypto market include that :

  • The impact of promoters on these coins :
    The user/fan base of meme tokens are so strong and rational investors see this as a channel of investment where they do passive or direct investment to influence the news which on the other hand, increases the trading volume of the tokens and attracts more traders of it.
    I'll explain this with an example of Elon musk tweeting about doge barking at the moon and the influence of that post doesn't need to be only said, as we already know it was a Bullish move.

  • Secondly the thriving of fellow meme coins like doge and Shiba inu gives crypto users the incentive of buying them slowly and through that way, the market cap of these coins keep getting bigger and thriving until they realize a big spot in the market, it's news spread on media too, brings a whole lot of attention to invest about it.

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2). Do you think Meme Tokens is a type of cryptocurrency that shouldn't need to be created?

Do I think Meme tokens are kinds of crypto currencies that need not be created?
The answer to this question, could be termed as double sided since the Meme tokens show lights of essence /value and on the other hand still entail waste and no purpose.

Firstly, we know that most meme tokens have no actual reason or creation and so it's joke nature could cause it to be extra volatile, leaving customers in losses mostly when they buy and could leave them smiling too after Some of them too, seem to have an infinite supply different from main crypto currencies that do and so is difficult to follow mostly on long period basis.

They also are initiated just suddenly and so the same way can fail in the same vein leaving me in an answer that since digital currencies have strong aims, these meme coins shouldn't have been created but left at worst at the NFT level but with respect to its existence, I hope that there are several other benefits it unfolds to the world.

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3). If you had to choose to invest or trade on Meme Tokens, which would you choose? Explain your choice in detail and provide strong evidence for your choice.

If I had to choose between investing and trading of meme coins, I'll chose Investing because:
Firstly here what we'll be considering is the nature of the value of the tokens involved.
We understand that Meme tokens are speculative tokens that have little or nothing when it comes to intrinsic value and so, trading such tokens with unstable minds could be disastrous. Instead, when I invest in them I have the understanding that I have my eggs in different baskets and with a good fundamental and technical analysis I see my benefitting from the market price.

So instead of being scared of losing out somehow, I get certain that even if the joke coins, get funny, I have a way of recuperating before they are finally done for.
We also take note that there are staking options on the investment basis where we can just stake our coins in a liquidity pool and earn interest like in the Shiba swap where we can exchange Shiba for erc20 tokens and other DEX exchanges and through this means, more interest is gotten

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4). Choose a Meme Token (except Dogecoin and Shiba Inu) and do an analysis of the Meme Token with the following conditions:

For this homework post, I will be talking about the CumRocket this token was launched in April 2021 and came with the mindset to upgrade and tokenize the adult content. Creating a safe environment giving them a mixture of communication and fun.

IMG-20211022-WA0002.jpg screenshot from twitter

The coin as we can see was listed among the top 10 coins with interactions on the BSC projects which shows that the coin has a great awareness and engagement.

Also as we attempt to be honest, we notice that the porn industries has a lot of viewers and traffic even though no one agrees to be watching. In like manner it's something new and the crypto investors knowing that the porn industries are always well patronized will likely want to invest.

The cumrocket started with a cool strategy to avoid highs and lows rapidly

Cumrocket on NFT
Added to that on the 29 Oct they will be launching their NFTs this will cause a rise in the price and patronage of the coin.

The Nft will permit and give the ability to post full pornographic videos, images and Gif and they can also buy and sell keeping each porn in the market very unique without having to safe files on your laptop to avoid getting caught.

It also has a strict KYC to confirm the age to be above 18.

IMG-20211022-WA0003.jpg screenshot from twitter

Just looking at the platform you can agree with me that the idea of a decentralized pornography company is one of the smartest ideas ever rewarding both the fans and the publishers.

BASED ON SECURITY
It is secured with the Binance Smart Chain and it is also a BEP-20 token using the proof of stake mechanism

How to purchase
It is not yet on the binance exchange but u can first buy a major coin BTC, ETH , BNB etc then make a swap on metamask wallet.

For me I will really love to invest in this coin because I see it as the future, added to the fact that they have a future plan of rewarding holders with a percentage from the company with a buy back strategy from the holders.

Below is the image from coinmarket showing the data of the coin

cumrocket.JPG

source

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Conclusion :

Blockchain and their tokens have had several purposes but isn't it interesting to know that there's one with a purpose to mimick bitcoin and some others with no actual purpose but gain market cap and leave their holders in great profits.
I thank the professor @wahyunahrul for the exposition to the concept of meme tokens of course the lesson exposed me to how this coins get the market attention and even the best ways to follow meme tokens. Thanks.

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Hi @sciencetech, Thanks for taking my class.
Based on the homework that you have made, here are the details of the assessment you get:

Assessment AspectScore
Personal opinion on the popular Meme Tokens in 20210/1
Personal opinion on the type of cryptocurrency Meme Tokens0/1
Choose to invest or trade on Meme Tokens0/2
Analyzing a Meme Token0/2
Conclusion0/1
Procedures, writing structure and effort0/1
Follows Rules and Guidelines0/1
#Club50500/1
Total0/10

My Reviews and Suggestions:

  • We detected something suspicious on your account. You are under surveillance.
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@wahyunahrul please I think there is a mistake in your review as I made a power up of 400.99 steem. below is the screenshot, please go through it and make corrections on the verification so that I could be curated and participate in the #club5050 promo
powerup.JPG

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Already fixed it. Thank you for notifying me.

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@wahyunahrul This seriously heart breaking, Please what did you detect. I have been away from steemit for about 2years, heard about the academy and decided to come back. I bought steem and did a powerup just so I could participate.

Stripping me off all my effort without saying what I did is really heart breaking. I plead on @sapwood to look into my situation