Editor's Note: This article uses the "iceberg model" to introduce the different layers and dark side of the cryptocurrency industry, from basic concepts to the dark humor and conspiracy theories within the community. It reveals the historical background of Bitcoin, Ethereum, and other important events, as well as the mysterious culture, altcoin phenomena, and controversial behaviors of industry figures, aiming to satirize and mock this not-so-serious industry.
The following is the original content (edited for easier understanding):
I have seen the iceberg meme related to Peat topics, and decided to create one for cryptocurrencies this beautiful weekend. Sure enough, it quickly went viral (this is a moment of psychological rebirth) after the Scorpio new moon, accompanied by a market correction, providing an entertaining read for everyone.
Layer 1:
Fiat has no value: Every fiat currency, apart from the promise of the military or government, has no support and will ultimately trend towards zero.
Bitcoin is immutable: There will only ever be around 2.1 million Bitcoins that can be mined.
Assets inflate due to base currency inflation: Study housing and stocks in Western markets tied to the mighty petrodollar.
Smart contracts replace the economy: The original vision of ETH, where the capabilities of smart contracts promised to replace real estate, banking, salespeople, etc.
The Finance Minister is about to conduct the second round of bank bailouts: The classic headline embedded in Bitcoin's first block, symbolizing what Satoshi Nakamoto created Bitcoin to oppose.
Layer 2:
Altcoin/Bit ratio: An important indicator for traders to decide whether a particular altcoin is worth buying, reflected in the old concept of the altcoin/Solana ratio, or the famous Solana/ETH chart only going up.
The XRP myth scam: A classic pump in the 2016/2017 cycle that made many investors overnight millionaires, creating a lasting XRP culture.
Silk Road: Bit was initially used as a peer-to-peer currency for various goods and services, until traditional finance started to accept it.
Ethereum Rocks: One of the first NFT projects launched on the blockchain.
Yachtzee saves Bit: Referring to Arthur Hayes closing BitMEX at the peak of the Covid death candles to save the market.
Cyberpunk spirit: The classic inspiration and ideology behind Bit and ETH.
Layer 3:
Altcoins are Bit 2.0: Referring to Murad's theory on how altcoins form an unbeatable holder base and culture, leading to extraordinary price swings.
Cryptocurrencies are the second dimension of risk: We crash when the macro economy is bad, and perform well when the macro economy is good.
ETH is born for more Bit: Referring to ETH being initially viewed as an L1 scam to steal Bit.
Sushi vampire attack: Sushi vampire attacked UNI, with the main developers lowering the price of the Sushi token to protect the holders.
Ziliqa annual pump: Referring to GCR's old tweet about Ziliqa having the most aggressive market making capabilities when deciding to pump.
Every coin goes to zero: Every coin will eventually go to zero.
Layer 4:
Beerus is based on 16z: No one has discovered who the developer Beerus behind AnubisDAO is, perhaps B16z is Sisyphus, the truth will forever remain unknown.
CL is an LLM: High levels of autism and seed oil can create NPC-like geniuses.
The truth terminal is Baphomet: AI is essentially humans trying to play God, and GOAT refers to the mysterious and mystical deities of yin and yang, while also being extremely vulgar and low-brow.
The Italian mafia created DeFi 2.0: GCR once speculated that Dani Sestagali's TIME, SPELL and ICE tokens could be used for organized crime money laundering.
MEV = UBI: MEV provides a steady income source for smart programmers/degenerates.
Liquidity fragmentation leads to poverty: The reason the previous cycles seemed easier to navigate was due to the fewer number of shitcoins to bid on, whereas in the early cycles there was only Bit, in the past two cycles it was ETH/Bit, and now it's all kinds of tokens, leading to frequent losses.
Layer 5:
SBF is Ryoshi: Referring to the classic Bitboy video where he claimed SBF created SHIB.
Lunar phases and eclipses create bull markets: No further explanation needed.
The 4-year cycle is global liquidity: No further explanation needed.
Chain runs every two months due to wage slavery: Most participants lose, needing multiple deposits to start PVP, then gambling more fiat until they encounter too many "rugs" and go to zero, this is the classic pattern.
Layer 6:
Bitboy cocaine abuse: Bitboy's endless energy may be fueled by cocaine abuse.
mingxmecca: GCR's old altcoin.
The Atlantis of El Salvador revival: If El Salvador continues its policies and leadership, it has the opportunity to become one of the most successful countries of the century.
Sanctioned countries pump altcoins: Similar to the Oridinals joke, altcoins often provide a clean channel for money laundering, or sent to different regions (e.g. $USDT on TRON).
Do Kwon hiding crypto hardware wallets: No explanation needed.
OI increase in uptrends: No explanation needed.
Layer 7:
Kole World galactic deception: I suspect Kole was initially correct in his assessment of a strong summer correction, but may have been deceived by galactic entities about his low target.
Satoshi Nakamoto is CIA: There are various conspiracy theories.
Murad is Baproll: The most infamous SPX6900 bull market promoter may be Murad's alter ego.
GCR's cyberwheelchair: Someone speculated that GCR's physical disability is because he believes trading is the only path to wealth.
Finex decides the price: No, they don't, I'm joking.
George Floyd never died: Referring to DroydAI.
I hope you enjoyed this meme as much as I did. We are not a serious industry.
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