Metacoin

Covering Bitcoin, the Blockchain, Altcoins, and Fintech

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.

Too Big To Fail?

Continuing our series — which we’ll cross-post on the SHTF Megapost — talking about the craziness of the economy. Two pieces to this one: first, we take a ChatGPT-led approach (they did most of the writing, we do the editing) to the concept of “Too Big To Fail” banks.

Second: we share a link to a very recent (March 25) video where Glenn Beck interviews David Sacks to talk about…looks around…everything.

The BLATANT SPONSOR LINK HERE is from Binance.us. You get a bonus and so do we if you make a qualifying purchase.

What Makes a Bank ‘Too Big To Fail’

We took to AI, specifically ChatGPT, with the following prompt…

Explain in a 1000-word post why the US Federal Reserve can help stop Global Systemically Important Banks (GSIBs) from going under, and how to best keep the mid-sized and regional banks from failing, too.

So we did a little light editing, and the following is what the computers spit out.

What Is a GSIB?

The Global Systemically Important Banks (GSIBs) are large financial institutions that are considered too big to fail. The failure of such institutions could have a catastrophic impact on the global economy, as they are intertwined with other financial institutions and industries. The US Federal Reserve plays a crucial role in preventing the failure of GSIBs and ensuring the stability of the financial system. In this post, we will discuss the role of the Federal Reserve in preventing GSIBs from going under and how it can also keep mid-sized and regional banks from failing.

The Federal Reserve, also known as the central bank of the United States, is responsible for conducting monetary policy, supervising and regulating banks, and maintaining the stability of the financial system. One of the most important tools that the Federal Reserve has in ensuring financial stability is its ability to act as a lender of last resort. This means that in times of crisis, the Federal Reserve can lend money to financial institutions that are facing liquidity problems and prevent them from going bankrupt.

The Federal Reserve has a number of mechanisms in place to prevent the failure of GSIBs. One of the most important is the Comprehensive Capital Analysis and Review (CCAR) program, which evaluates the capital adequacy of large financial institutions. The CCAR assesses whether GSIBs have enough capital to withstand adverse economic scenarios, such as a recession or financial crisis. The Federal Reserve can then require these institutions to increase their capital if it determines that they are not adequately prepared for such scenarios.

Another mechanism that the Federal Reserve has in place is the supervisory stress testing program. This program assesses the resilience of GSIBs to potential shocks in the financial system. The stress tests evaluate how GSIBs would perform under different economic scenarios, including severe recessions and financial crises. This enables the Federal Reserve to identify potential weaknesses in the institutions’ risk management practices and take steps to address them.

In addition to these mechanisms, the Federal Reserve also has the ability to provide emergency loans to financial institutions in times of crisis. During the 2008 financial crisis, the Federal Reserve provided emergency loans to several large financial institutions, including Goldman Sachs and Morgan Stanley. These loans helped prevent these institutions from going bankrupt and prevented a catastrophic collapse of the financial system.

What About the Mid-Sized Banks?

While the Federal Reserve has been successful in preventing the failure of GSIBs, it is also important to ensure the stability of mid-sized and regional banks. These institutions may not be as systemically important as GSIBs, but their failure can still have a significant impact on local economies and communities.

To prevent mid-sized and regional banks from failing, the Federal Reserve has implemented a number of measures. One of these measures is the Community Reinvestment Act (CRA), which requires banks to meet the credit needs of the communities in which they operate. The CRA encourages banks to provide loans to low- and moderate-income individuals and businesses, which helps to support local economic development.

The Federal Reserve also conducts regular supervisory examinations of mid-sized and regional banks. These examinations evaluate the financial health and risk management practices of these institutions. If the examinations reveal weaknesses in these areas, the Federal Reserve can require the institutions to take corrective action.

In addition to these measures, the Federal Reserve has also taken steps to promote diversity and inclusion in the banking industry. The Federal Reserve believes that a diverse workforce can help promote better decision-making and risk management practices in financial institutions. The Federal Reserve has established diversity and inclusion committees and initiatives to promote these values in the banking industry.

Summary

In conclusion, the US Federal Reserve plays a crucial role in preventing the failure of Global Systemically Important Banks (GSIBs) and ensuring the stability of the financial system. The Federal Reserve has a number of mechanisms in place, including the Comprehensive Capital Analysis and Review (CCAR) program, supervisory stress testing, and other tools to help avoid catastrophe.

Glenn and David

Wrapping It All Up…For Now

A couple thoughts:

First up, OMG, Deutsche Bank is apparently in trouble. It’s somewhere near the top of the GSIB list.

Second, also OMG, Glenn’s interview with David is really something. Probably a little scary, too. Worth a watch.

Third, revisit the original SHTF posts for a crypto-ish take on what to potentially do next.

Bard Writes Financial Survivalist Copy

Editor’s Note: Like a good chunk of the world, we got an invite to try “Bard,” Google’s LLM AI writer thingy. We assigned it an article on “how to invest $1000 to prepare for a financial crisis.”

The article follows. Again, not investment advice, and do your own research.

THIS IS A BLATANTLY SPONSORED POST: Here’s a link to Crypto.com.

your investing bard

Here are some tips on how to invest $1000 to prepare for a financial crisis:

1. Build an emergency fund.

An emergency fund is a savings account that you can use to cover unexpected expenses, such as a job loss, medical bill, or car repair. It is important to have an emergency fund in place before a financial crisis hits, so that you don’t have to go into debt or sell your assets. A good goal to aim for is to have at least 3-6 months of living expenses saved up in your emergency fund.

2. Invest in assets that are likely to hold their value or appreciate in a financial crisis.

Some assets that are considered to be safe havens during a financial crisis include gold, silver, and bonds. You can also invest in stocks of companies that are considered to be essential services, such as utilities and healthcare companies.

3. Diversify your investments.

By investing in a variety of different assets, you can reduce your risk of losing money if one particular asset class crashes. A good way to diversify your investments is to invest in a mix of stocks, bonds, and cash.

4. Rebalance your portfolio regularly.

As the market changes, your portfolio should also change. This means selling some assets that have gone up in value and buying assets that have gone down in value. Rebalancing your portfolio regularly can help you stay on track with your financial goals and reduce your risk of losses.

5. Be patient and stay calm.

Financial crises can be scary, but it is important to remember that they are temporary. If you stay calm and stick to your investment plan, you will be more likely to come out ahead in the long run.

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.

Five Tips You Can Use to Become a Financial Survivalist

In an increasingly uncertain world, it’s wise to prepare for financial survival. Whether you’re concerned about economic collapse, inflation, or other financial emergencies, there are several steps you can take to safeguard your wealth and ensure your survival.

Here are five ideas for becoming a financial survivalist:

1. Invest in Gold and Silver

Gold and silver have been used as a form of currency for thousands of years, and they continue to be a popular investment for those concerned about financial survival. One of the reasons gold and silver are so valuable is that they are physical assets that can’t be created out of thin air like paper currency or digital assets. They are also a hedge against inflation, as their value tends to rise as the value of paper currency falls.

There are several ways to invest in gold and silver, including buying physical coins or bars, investing in exchange-traded funds (ETFs) that track the price of gold or silver, or investing in mining companies that extract precious metals from the ground. Keep in mind that the price of gold and silver can be volatile, so it’s important to do your research and understand the risks before investing.

2. Consider Bitcoin and Other Cryptocurrencies

Bitcoin and other cryptocurrencies are digital assets that are decentralized, meaning they are not controlled by any government or financial institution. They offer several advantages over traditional currency, including lower transaction fees, faster transaction times, and greater privacy.

One of the reasons bitcoin and other cryptocurrencies are popular with financial survivalists is that they are not tied to the traditional banking system, which can be vulnerable to economic instability or government intervention. However, it’s important to note that the value of cryptocurrencies can be highly volatile, so it’s important to invest only what you can afford to lose.

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3. Keep Some Cash on Hand

While gold, silver, and cryptocurrencies offer advantages over paper currency, it’s still important to keep some cash on hand for emergencies. In the event of a natural disaster, power outage, or other emergency, ATMs and credit card machines may not be available, making it difficult to access your funds.

Keeping some cash on hand can also be useful in the event of a bank run or other financial crisis. However, it’s important to keep the cash in a secure location, such as a fireproof safe, and to rotate it regularly to avoid deterioration or damage.

4. Learn to Live Frugally

One of the best ways to ensure financial survival is to learn to live frugally. This means living within your means, avoiding debt, and finding ways to save money on everyday expenses.

There are many ways to live frugally, such as shopping for bargains, cooking at home instead of eating out, and cutting back on unnecessary expenses like cable TV or expensive hobbies. By living frugally, you can build up a financial cushion that can help you weather financial emergencies and avoid being caught in a cycle of debt.

5. Invest in Self-Sufficiency

Finally, investing in self-sufficiency can be a valuable tool for financial survival. This means learning skills like gardening, canning, and food preservation, as well as basic DIY skills like carpentry and plumbing.

By investing in self-sufficiency, you can reduce your dependence on outside sources for food, water, and other essentials. This can be especially valuable in the event of a natural disaster or other emergency that disrupts supply chains and makes it difficult to access basic necessities.

In conclusion, becoming a financial survivalist requires a combination of investment in tangible assets like gold and silver, digital assets like bitcoin and other cryptocurrencies, and cash, as well as learning to live frugally and investing in self-sufficiency. By taking these steps, you can increase your chances of surviving and thriving in an uncertain financial future.

DISCLAIMER: THIS IS NOT INVESTMENT ADVICE. DO YOUR OWN RESEARCH.