Metacoin

Covering Bitcoin, the Blockchain, Altcoins, and Fintech

David Van de Walle

The Return of the Meme Coin

Time to have a little fun with a combination of finance, gambling, AI, the Oxford comma, and meme coins.

If I had a dollar for every meme coin I’ve seen, heard about, been pitched, been presented a scammy airdrop tweet for, or lost my shirt on, I’d have probably one trillion meme coins.

(And if you count up all the meme coins stuck in my MetaMask account and maybe sitting on my phone, you’re well on your way to the first trillion.)

So we thought we’d start with Bard, the AI tool from Google, and see what it/he/they think(s) about the current state of Meme Coins.

The prompt:

Suggest five crypto meme coins that could be potential ten-baggers — that is, could go up in price 10x — based on current conditions and past results.

Bard’s Response

Here are five crypto meme coins that could be potential ten-baggers:

  • Dogecoin (DOGE): Dogecoin is the original meme coin, and it has a large and passionate community of supporters. It is also one of the most well-known cryptocurrencies, which gives it a lot of potential for growth.
  • Shiba Inu (SHIB): Shiba Inu is another popular meme coin that has seen a lot of growth in recent months. It is similar to Dogecoin in that it is based on the Shiba Inu dog breed, but it has its own unique features and community.
  • Baby Doge Coin (BABYDOGE): Baby Doge Coin is a newer meme coin that is based on Dogecoin. It has quickly gained popularity, and it has the potential to reach even greater heights than its predecessor.
  • Floki Inu (FLOKI): Floki Inu is another newer meme coin that is based on the Shiba Inu dog breed. It has a strong community of supporters, and it is quickly gaining momentum.
  • SafeMoon (SAFEMOON): SafeMoon is a meme coin that has a unique tokenomics system that rewards holders for holding their tokens. This has helped to create a strong community of supporters, and it has the potential to reach even greater heights.

It is important to note that these are just a few of the many potential ten-baggers in the crypto meme space. There are many other promising projects out there, and it is important to do your own research before investing in any cryptocurrency.

It is also important to remember that meme coins are a high-risk investment. The prices of these coins can be very volatile, and they can lose value quickly. If you are considering investing in a meme coin, be sure to only invest what you can afford to lose.

Let’s Go to the Videotape…

Dave here again. And we’re not exactly going to the videotape, but we are going to compare and contrast the thoughts from the Bard machine with some thoughts of our own. (Folks, THIS is how AI and ChatGPT and Bard and all are supposed to work. Want more thoughts on how your life might change? Check out this post, complete with a Jordan Peterson Meme.) Let’s start with DOGE.

BEFORE WE DO THAT…First of all, this is not investment advice. Note above that Bard told you as much, and said you should “be sure to only invest what you can afford to lose.” Wise old Bard.

AND…why not make this a CLEARLY MARKED SPONSORED POST? Sure. Here’s an AFFILIATE LINK from BINANCE. We can both benefit if you use that link to sign up. Now, let’s get to DOGE…

Elon Musk Was Right

(Thanks to CoinGecko for the stats)

Elon said something once about “to the Moon” and I think he was talking about DOGE because if he had said “to Mars” he’d be talking about SpaceX. Alas, he was right…if you look at the growth of the coin from its all time low 8 years ago. But who HODLed DOGE? Nobody, that’s who.

Is it a safe bet? Eh…

Here’s one way of looking at it: Market Cap. If DOGE is an $11B coin (well, just short, but let’s round up), could it become…a $20B coin? $100B? OR $1B?

From the “Up Only” perspective, yeah, it might be at its peak.

On a 1-10 scale with 10 being the likelihood of a “ten-bagger,” and 1 being “you might be better off rolling your window down while driving on the highway and throwing a bunch of twenties out of your car,” we give this a 3.

SHIB. Or…SHIV.

Here’s the thing about SHIB. You had to get in super early or else…you are probably better off trying other options.

This SHIB thing is the 15th-largest crypto by market cap. And it — like the other meme coins — serves no utility. Market cap of $6B. Nah, it gets a score of 2 on the 10-point scale.

We’ll go with SHIV, who gets a 10.

There’s a Baby Doge?

Okay. But, this one is confusing because there are multiple Baby Doges AND this coin is also on Binance Smart Chain (BSC) but has expanded to Ethereum, too. It’s the ultimate in DYOR BUT, with a market cap of $333M, yeah, it has room to grow. Plus the confusion and the desire to get in on something that *could be* the next DOGE means…We give it a score of 6.

FLOKI Is Pretty Much the Same, Right?

A cursory glance at the numbers tells us that FLOKI and BABY DOGE are pretty much the same coin. Both come in at roughly the same market cap, so it might come down to gut feel.

We’re going to give a slightly higher score to FLOKI thanks to its not having “DOGE” in its name. We give it a 7.

What Is SAFEMOON and Why No Dog?

SAFEMOON does not appear to be affiliated with a dog meme. This is a plus.

It’s over on the BSC chain, so there needs to be some BNB to take advantage of it. (How do you get BNB? You use the CLEARLY MARKED BINANCE AFFILIATE LINK.)

Market cap is lowest among the five coins on our list, so it probably gets the highest score. Nice stats here:

We give it an 8.

Final Thoughts on AL, or AI

We have a couple final thoughts here.

First of all, as evidenced by the image at the top of this post, the move to sans-serif fonts has meant that you’re not totally sure if people are talking about Artificial Intelligence or guys named Al.

That being said, the list created by Bard was fine. It served its purpose: quite a bit more than a Google search, but not quite enough to give you the full feel for what’s going on.

Finally, you’re best off — AND THIS IS NOT INVESTMENT ADVICE — ensuring that you have the basics taken care of and are ready for (surprise) the SHTF stuff we’ve talked about before venturing into the meme coin game.

The 2023 SHTF Financial Survivalist Megapost

UPDATED: April 1, 2023. Because why not share doom and gloom on April Fool’s Day?

Hello, fellow insomniacs, doomsayers, crazy people, and other ne’er-do-wells! It’s that time…again…where we look around at EVERYTHING and we wonder what in the name of Sam Hill is going on. In other words…

We thought we’d pull together a few links and posts and whatnot to help you plan.

If you’re seeing a bit of a shift on this page from general crypto stuff to how/when/where/if crypto fits into the grand scheme, that is by design. It’s that goofy out there.

Here goes.

First Up: Our SHTF Posts From Back in the Day*

The answer to the asterisk is that these two posts — SHTF Vol 1 and SHTF Vol 2 — are from… OCTOBER of 2020. Oh how we’ve grown.

What Would Glenn Beck Do?

It’s actually a really good question, since Glenn is known to plan and think through things like the current economic whatnot.

Here’s a YouTube link from the week of March 13, 2023.

Who Is This Mario Guy?

We’ve loved following Maneco64 on YouTube. He’s been at it for a few years and he’s consistent as heck: “Your home for alternative economics and contrarian views.”

On March 20, he’s chatting here about the whole Swiss/Credit Suisse info, and what the Fed is doing.

How ‘Bout A Clearly Marked Affiliate Link

Binance.Us has one for ya here: Binance Affiliate Link. As with all these, you can potentially get some crypto, and so can we, with a qualifying purchase. Now back to the post.

But…How Much Crypto SHOULD I Have?

This is the question. We don’t have the answer. In fact, our answer in the above seminal SHTF posts kinda sorta thinks that maybe you should have some, but shouldn’t put all your eggs in the crypto basket.

An approach we’ve discussed earlier this year is a “Growth Portfolio,” and the 2023 edition is doing quite well. In fact, here are two straight photos of just how well it’s doing. The first from March 5, the second from this morning, March 20. (Ignore all the sixes, it’s not an omen.)

What About the Pundits?

Two years ago (!), yours truly sat down with the legendary Jim Rogers and I asked him about Bitcoin. Of course, this is before all the topsy-turvy Bitcoin craziness of the past couple years.

Funny enough, at the time of that interview, February 18 of 2021, BTC was $46,000. It’s now just over $28,000.

(Note to self: check in on Jim. See how he’s doing. See if he wants to sit down again.)

ChatGPT Isn’t Very Good at This…Yet

We talked in past posts about the limitations of ChatGPT. How it won’t take your job. How you still have creativity and editorial judgement and the ability to think and write and create and add the human touch.

We asked it to write a piece — which we posted here yesterday — and, it’s…fine. We still believe what we said in the above post about your job being safe…for now. But look around. Pay attention. This stuff moves fast.

Another Clearly Marked Affiliate Link

This Affiliate Link is for Crypto.com and they still have their name on the top of an arena. You can get some free crypto with a qualifying purchase and we’d get some, too.

April Update Piece #1

Here’s a link to our “Too Big To Fail?” post from earlier this week.

ChatGPT Tackles the World of NFTs and We Rate Their Writing

After the success of our blog post from three weeks ago — here’s a link: ChatGPT Isn’t Taking Your Job — we thought we’d experiment with the tool once again, but this time with the goal of kickstarting our own NFT collection.

So yeah, it’s self-serving as heck. (AND we’ll give you a couple disclaimers: do your own research. Don’t invest more than you can afford to lose. Also, since we created the art here at Metacoin HQ, of course we profit from any sales of the art. That’s capitalism for ya.)

But, as with everything these days, these NFTs are an experiment. Crypto is an experiment. ChatGPT is an experiment. And we put all these experiments together, and watch as it tackles the world of NFTs. How do we rate their writing? Read on…

First, the Background

The collection we asked about was the third we launched on OpenSea, which, to date, has been the leader in the NFT universe. While there have been a few competitors, OpenSea seems to be the leade rin the clubhouse.

Our collection is called “Collezione22” and the 176 pieces were created by us. (More accurately, me. At my computer.) Launched (of course) in 2022, only a few have sold — reminding me of a really off-color and rather sacrilegious Bible-related article from The Onion that I refuse to link to because reasons — so I thought “why not ask ChatGPT to create a post so I can sell more of these [expletive] NFTs?”

So I Went to ChatGPT and Asked…

“Write a 1000 word blog post as a potential investor in NFT art pieces, such as the ones at https://opensea.io/collection/collezione22 and compare their value to those that are focused on pfp or profile photos like cryptopunks and bored apes.”

Before I share the post in its entirety, a caveat: I went in and added links on any of the text where a link is appropriate. ChatGPT isn’t really great at that these days. It will get better and SEO professionals will need to ask what to do next.

Here, then, is the post:

As the world continues to embrace digitalization, the art industry is not left behind. The advent of Non-Fungible Tokens (NFTs) has revolutionized the way art is created, sold, and collected. NFTs provide a unique opportunity for artists to create digital art that is unique and exclusive to the buyer. As an investor, NFTs have caught my attention, and I am particularly interested in art pieces such as the ones found in the collezione22 collection on OpenSea. In this blog post, I will explain why I think investing in NFT art pieces is a wise decision and compare their value to those focused on PFP or profile photos like Cryptopunks and Bored Apes.

Firstly, NFTs provide a unique way to invest in art. Unlike traditional art pieces, NFTs are digital assets that exist on a blockchain. This means that they are unique and cannot be replicated or duplicated. When you buy an NFT, you own the original piece, and you can prove ownership using the blockchain. This is a significant advantage compared to traditional art pieces, which can be easily replicated, and it can be challenging to prove ownership.

NFTs also have a significant advantage in terms of liquidity. Unlike traditional art pieces, which may take time to sell, NFTs can be sold instantly on various online platforms such as OpenSea, Rarible, and Nifty Gateway. This means that if you need to cash out your investment quickly, you can do so easily without having to wait for a buyer.

Another advantage of investing in NFTs is the potential for high returns on investment. In recent months, we have seen some NFTs sell for millions of dollars. For example, the Beeple NFT sold for a record-breaking $69 million at Christie’s auction house. Although not all NFTs sell for millions, some can still provide significant returns on investment. The value of NFTs is driven by various factors, such as the rarity, the artist behind it, and the demand for the piece.

When it comes to NFT art pieces, the collezione22 collection on OpenSea is an excellent place to start. This collection features various digital art pieces from different artists, each with a unique style and theme. The art pieces in this collection range from abstract to realistic, and they are all visually appealing. This collection also provides an opportunity to invest in emerging artists who may become well-known in the future.

While NFT art pieces are an excellent investment opportunity, they are not the only type of NFTs available. Profile photos or PFPs have also become popular in the NFT world. PFPs are digital images that serve as a user’s profile picture on social media platforms. Some examples of PFPs that have gained significant popularity include Cryptopunks and Bored Apes.

Cryptopunks were one of the first NFT projects to gain significant attention. They feature 10,000 unique 8-bit characters that were randomly generated and sold for a fraction of an ether in 2017. Since then, their value has skyrocketed, with some selling for millions of dollars. Bored Apes, on the other hand, feature 10,000 unique digital apes that come with various accessories such as hats, glasses, and jewelry. Bored Apes have also gained significant popularity, with some selling for over $1 million.

While PFPs have gained significant attention, they have a few disadvantages compared to NFT art pieces. Firstly, PFPs lack the uniqueness and exclusivity that NFT art pieces provide. While each PFP may be unique, they do not provide the same level of creativity and originality that NFT art pieces offer. Secondly, PFPs may not have the

Wait, What?

Time to grade this piece. All 594 words of it.

Accuracy: B+

That was actually a pretty good piece in the grand scheme, as it talks about a few of the likely suspects — e.g. OpenSea, Nifty Gateway, Rarible — and whether it makes sense to invest in PFPs (where each is a different character) or artistic NFTs (such as the ones we created) that aren’t unique characters.

It falls short of an “A” rating, though, because it really doesn’t accurately talk about the collection I have on OpenSea. They’re all mine. I guess if someone reached out and said “I have some art!” then we’d talk.

Prose: C

It’s well-written but not too much better than what I could create myself. If I had the time.

So if “average” writing is your thing, then…that’s fine.

Following the Instructions: D-

I asked for 1000 words. I got 594. But this is passable writing, so I can’t give it an “F” grade.

Overall Grade: C

However, let’s think about this holistically. I went to a FREE website and typed in a question and got a response. And it’s good enough to put on the blog. And it might put *some* writers out of business.

But…didn’t you say that ChatGPT isn’t taking my job? What’s a writer to do?

Read My Last Post on the Topic…

Above is image #165 in the series. Art is subjective: you may find that to be a cool image, you may think it’s kinda just there. In the case of ChatGPT, it appears it didn’t think about the image at all.

The next image is #164, the original piece upon which #165 is based. 165 was created by digitally manipulating the original just enough so that it’s different, but still follows the same general color scheme and uses the original flow.

There’s very little room for nuance on ChatGPT, it appears. It does a casual glance based on the text it can find, but you’re not going to get a critique of the artwork.

So where does that leave us?

As we told you before, Google allowed us to outsource our thinking in some respects, and ChatGPT is doing the same. Does that free you up to create? Does it free you up to do a deeper dive on a subject that just cannot be explained by the chatbots?

Yeah, that’s what we think.

ChatGPT Isn’t Taking Your Job

When it all started, the “OMG You Should Try Out This ChatGPT Thing!” craze, I thought I’d give it a whirl.

(I Have A Question…)

…ChatGPT, of course, had an answer. Here it is:

It is difficult to predict with certainty which specific cryptocurrencies will survive or fail in the future. The success or failure of a cryptocurrency can depend on a wide range of factors, including its technology, adoption, market conditions, and competition.

Bitcoin and Ethereum are two of the largest and most well-established cryptocurrencies, and they have both achieved a significant level of adoption and have strong networks of users and developers. This can make them more resilient to changes in the market and give them a competitive advantage over smaller or less established cryptocurrencies.

However, it is important to note that the cryptocurrency market is highly volatile and unpredictable, and it is possible for any cryptocurrency, including Bitcoin and Ethereum, to experience fluctuations in value or to fail. It is also possible for new cryptocurrencies to emerge and gain significant adoption, potentially competing with or even surpassing existing ones.

Ultimately, it is impossible to accurately predict the future of the cryptocurrency market, and it is important for investors to carefully consider the risks and potential outcomes before making any investment decisions.

That Wasn’t Too Bad…

Nuance — in the form of online discussions at least, and maybe with respect to political discourse as well — died recently. It ain’t coming back online, and it certainly won’t come back if it’s reliant on machine-learning, algorithms, and AI-led back-and-forths about topics that used to be parlor discussions. (Yes, Bitcoin and Ethereum were parlor discussions back in the olden days.)

It’s time to figure out why ChatGPT isn’t taking your job. It’s…complicated. But simple.

There might only be two approaches to content these days, anyway: either you have a 30-second TikTok piece that goes viral, or you spend 3 hours talking to Joe Rogan and it gets 5 million views. Quick hits, or nuanced explanations. Which brings us to our second experiment.

(Here’s ChatGPT’s Response, Round Two…)

Cryptocurrency is a complex and fascinating topic, one that requires a deep understanding of both human psychology and the mechanics of finance. As with so many things in life, it is a subject that is both rooted in tradition and destined to shape the future.

From a psychological perspective, cryptocurrency can be understood as a manifestation of our innate desire for freedom and independence. It represents a rejection of centralized systems of power and control, and instead offers a decentralized alternative that is based on trust, transparency, and accountability.

At its core, cryptocurrency is a form of digital currency that is built on blockchain technology. This technology allows for secure and transparent transactions, as well as the creation of new units of currency through the process of “mining”. Unlike traditional currency, which is controlled by governments and financial institutions, cryptocurrency operates independently and without interference.

However, it is important to recognize that the use of cryptocurrency is still in its infancy and that it is not without its risks. Just as the traditional financial system is prone to instability and corruption, the world of cryptocurrency is also vulnerable to fraud and manipulation.

Ultimately, the rise of cryptocurrency represents a profound shift in the way we think about money and financial systems. It is a subject that requires careful consideration and a deep understanding of both its potential benefits and its potential drawbacks.

In the words of Jordan Peterson, “The only way to truly understand the world is to understand the underlying patterns that give rise to it.” The same is true for cryptocurrency. To truly grasp its significance, one must delve into its history, its technical workings, and its psychological underpinnings. Only then can we begin to understand the full scope of its impact on our lives and our world.

And This Is Related to Crypto…How?

In our quest to automate everything — do you really need a “smart fridge?” — we’re quick to both automate and delegate the ability to think. That part of your brain that can remember the call-in number for the radio station hotline where you tried to win money back in the day — 234-7533, in case you’re curious; 674-8851 if you’re outside of St. Joe County — can now focus on other things thanks to your “smart phone.” (Which you *do* need.) So your brain is free to explore. Your keyboard is still yours.

Some thoughts, then…

Don’t Be Afraid of Thinking This Through

I haven’t arrived at any of the hundreds of blog posts on this site by heading over to some blog post generation engine and asking what I should write about. And, dare I say it out loud, there are some folks I’ve outsourced some content creation to haven’t been able to provide enough of a nuanced discussion to touch a nerve with readers. (Others? Yeah, some of the work from my pal Anthony were darn good.)

You live and learn, and you continue to think your way through how all of this might play out.

Or might not.

The Power of Narrative

In an article for the site Ordinary Times, I gave a sneak peek at the book I’ve been working on (for too long, it seems) called “Own The Narrative.” The concept: most really good narratives do tend to follow a few rules — and we’re not talking about conflict, rising action, resolution stuff — and if you can see around blind corners and figure out what those rules are and how they apply to your situation, you can use those rules to your advantage.

One of those 8 rules (50 percent fewer than Jordan Peterson’s 12) is to “Identify a Boogeyman.” Automation can be your friend but, in this case, automating the content marketing necessary to tell the story about the nuances of crypto…that’s an enemy. A villain. The Boogeyman.

If It Smells Like A Scam

One wonders if ChatGPT had been employed at all to sniff out FTX. I mean, it looked like a scam, it sounded like a scam. But, if all you’re looking for is some cheap content to ratchet up your brand’s profile, you’re likely to go after keywords and throw in a few affiliate links for good measure. (This blog: guilty as charged on using affiliate links, but not guilty of pumping FTX.)

So Why Won’t ChatGPT Take My Job?

Simple. You think, you read, you explore. You’re willing to seek out more information about whatever subject you’re interested in. You enjoy nuance. You’re not afraid of doing your own research.

And you continue to sharpen your own thinking, and your own writing. Right?

Your voice is…YOUR voice. Not anyone else’s. Don’t outsource your voice to a computer.

The 2023 Growth Portfolio*

* “Third verse, same as the first.”

Or, put another way, we’re doing it…again…but it looks a little like previous editions and a lot like last year’s edition.

First, the Background

Going back to the inception of this site, we’ve created mock portfolios that are designed to replicate what a mutual fund or ETF would look like…if it were allowed to invest in (what we’ve called at cocktail parties) “Bitcoin and Bitcoin-like substances.”

There was the “BRED Portfolio,” our first foray into the genre. (Bonus points scored just now for using “foray” and “genre” in the same sentence.) There were previous iterations of “Growth Portfolios” (though the first was called the “Crypto Balance Portfolio”).

And there was last year’s Growth Portfolio, which…tanked. (Bear markets will do that, it appears.)

Which Brings Us to 2023

Before we start, we do need to ask a question — posed in musical format by semi-obscure British alternative act Kitchens of Distinction, circa 1992 — about “What Happens Now?”

Album entitled “The Death of Cool,” natch

If your portfolio was, in theory, well-positioned to take advantage of a few different crypto developments — like Bitcoin’s continued dominance in the space, plus Ethereum’s “merge,” plus DeFi (like “Sushi“), and throwing in NFT gaming with coins like Magic and DeFi Kingdoms — you might as well just take the same ten coins from the previous year and rebalance on 1/1/23.

(If you want to see the 2023 Growth Portfolio in all its glory (ahem), you can also take a look at the updated numbers anytime over here: CoinGecko Link.)

Quick Thoughts

First up, this is NOT INVESTMENT ADVICE. Second, DO YOUR OWN RESEARCH.

Now that that’s out of the way…What the heck IS GOING ON???

Seriously, the “Up Only” meme phrase from last year’s bull market (before it became a bear market) over there on the one side of the image is kinda done as a joke. But not.

Up Only (So Far, 2023)

They’re all up! The worst performer is DeFi Kingdoms, known by its ticker of JEWEL and it’s up a measly 26.87%. Huh? MAGIC has tripled?

Well, you do realize that most of these went…way down last year. So they’re just ticking back up, trying to answer that old problem of needing to go WAY UP to make back what you lost after going WAY DOWN by (in some cases) 95% last year.

Sigh.

Final Thoughts

Again, you’re on your own with any of these portfolio ideas. You could make mad bank, you could…not.

But it does look like you could have had a nice pickup of 63% in just short of a month had you tried this 2023 Growth Portfolio.