The Meme ( meme currency , pronounced like "meme") carnival since May, there are ERC-20 version of Meme such as Pepe (frog Pepe), and BRC-20 version of Meme such as ordi (the name of the ordinal protocol itself, Ah, what a boring meme!)
The Memes of the ERC-20 version just want to continue the glory of SHIB(Shiba Inu Dog) or challenge the status of SHIB. The Memes of the BRC-20 version are trying to open up a new continent, to expand their territories in the weird, rigid, and conservative Bitcoin cultural circle, and shout orders and pyramid schemes like a madman.
According to the subversive innovation theory of Harvard Business School professor Christensen, being a follower and following the path of the existing leader is absolutely impossible to surpass. Just like the countless cafes trying to beat Starbucks with bigger, roomier, and more comfortable couches, with little success. They can't even do a standardized chain and end up with a few boutiques. Disruptive innovation requires the challenger to find a different path, not to take the usual path. If the giant goes north, you will fly southeast with the peacock. The key is that the northward direction is abandoned, the biggest cost is reduced, and the profits are passed on to consumers. Just like Ruixing Coffee, doing the opposite, simply abandoning Starbucks' biggest selling point-"space", thus realizing a sustainable and structural low-price strategy, successfully walking out of the road of differentiated competition and standing out .
The only thing that matters in memecoin is memes. A meme is a name. "The name can be named, but it is very famous." "No name, the beginning of heaven and earth. Famous, the mother of all things." A meme coin that quickly detonated the market must have an extraordinary meme. Before the casting, all the memes were unknown, no one knew, and there was no way to tell which ones would be popular. No one asked about the first release, and it became famous all over the world. All the attention, traffic, funds, hype, everything, followed. Tao begets one, one begets two, two begets three, three begets all things.
Being and nothingness, excess and emptiness are two concepts on the surface, but in essence they are the same thing. "These two come from the same place but have different names, and they are both called Xuan." Xuan is Yuan, the Yuan of Yuan Universe. Long and short are the rationality of empirical logic. Yuan is the pure rationality that transcends logic. Yuan is the unity of opposites of long and short. The Prajnaparamita Heart Sutra states, "Emptyness is form, form is emptiness", "emptiness is not different from form, form is not different from emptiness". Form means existence; emptiness means nothing. It can be seen that the Bodhisattva has also realized that many and emptiness are the same thing.
When you see the explosion of Meme before and after the May Day holiday, the legend of getting rich, the atmosphere of anxiety, and the extreme FOMO emotions, you will also see that the potential energy of the plunge is accelerating and accumulating. On May 6, Pepe began to shift from blasting to harvesting. On the 8th, Ordi took over. On the same day, it went up sharply and then fell. The bulls tried to counterattack the next day but failed.
It can also be seen from the transaction fees on the chain that since BRC-20 transactions reached a peak of 60% on the 7th, the activity has been declining all the way, and has fallen back to about 15% on the 11th.
Figure: BRC-20 Chain Fee Proportion
After observing the skyrocketing transaction volume of BRC-20, the number of transfers on the ordinary Bitcoin chain has not decreased significantly. It can be seen that the use of the Bitcoin chain has a certain "rigid need" nature, and even if it endures a sudden surge in handling fees, it still insists on using it.
Figure: Number of various transactions on the Bitcoin chain
Figure: Changes in transaction fees on the Bitcoin chain
At the poker table, if you don't know who the loser is, then you will be the loser. In a chess game, if you don't know who will be the price, then you are the price. Let us take a closer look, what kind of pattern has a FOMO formed?
Figure: Changes in the number of BRC-20 three types of operations
From the number of BRC-20’s mint (minting), transfer (transfer), and deploy (deployment) and the relative proportion changes, we can see that the very few myths of getting rich attract a large number of FOMO coins. Transfer can be regarded as the possibility of cashing out. In fact, this is extremely rare. Transfer and mint are often in a disparity ratio of 1:10, 1:20 or even 1:100.
In other words, many people lose money in FOMO, and few people actually get it.
The loss is the precious bitcoin. It hurts to think about it.
The preemptive striker in stage A in the above figure is probably the actor in the transfer shipment transaction in stage C. As for those who rushed in at stage B, it would be good if they could drink some soup, and they would even lose money if they were not careful. After all, on the road to getting rich, there are fee harvesters for miners and exchanges. As for the one who rushed in at the C stage, he was properly accepted by Panxia. It is estimated that even the handling fee will not be earned back.
It took a high fee FOMO and typed up so much waste paper. Countless people held a huge amount of waste paper, waiting eagerly for more fools to rush in to pick up the trays. Huang Liang has a dream, when will he wake up?
Bitcoin has fallen below 27k. It always uses silent declines to clean up the market.
When the funds were withdrawn, the unsupported FOMO and Meme's dream of getting rich suddenly stopped with the drumbeat, and the building collapsed.
* * * Produced by Liu Jiaolian * * *
(Public account: Liu Jiaolian. Knowledge Planet: Reply to "Planet" from the public account)
(Disclaimer: The content of this article does not constitute any investment advice. Cryptocurrency is a very high-risk product, and there is a risk of zeroing at any time. Please participate carefully and be responsible for yourself.)
