Have you ever wondered how many unknown secrets are hidden under the "iceberg" of the cryptocurrency industry? Are there also unknown dark sides behind those seemingly glamorous Bitcoin and Ethereum? Today, let's unveil the mystery of the cryptocurrency industry through an iceberg picture!
Original title (The Crypto Iceberg Explained), original author: TyrogueD, Crypto Kol
The original text is as follows:
First layer:
Fiat money is worthless: Every fiat currency, backed by nothing except the promise of the military or government, will eventually go to zero.
Bitcoin is immutable: there are only 21 million bitcoins that can ever be mined (approximately).
Assets inflated by base currency inflation: a look at housing and stocks in Western markets pegged to the powerful petrodollar.
Smart contracts replace the economy: The vision when ETH first emerged, smart contract capabilities promised to replace real estate, banks, salesmen, etc.
Chancellor on the verge of a second bank bailout: The classic title embedded in Bitcoin’s first block, a sign of what Satoshi Nakamoto was up against when he created Bitcoin.
Second layer:
Altcoin/Bitcoin Ratio: An important indicator for traders to decide whether a particular altcoin is worth buying, this old concept is reflected in the Altcoin/Solacoin ratio, or the famous Solacoin/Ethereum up-only chart.
XRP Myth Scam: The classic pump and dump in the 2016/2017 cycle made many investors rich overnight and created a lasting XRP culture.
Silk Road: Bitcoin was initially used as a peer-to-peer currency for various items and services until traditional finance began to accept it.
Ethereum Rocks: One of the first NFT projects launched on the blockchain.
Yachtzee Saves Bitcoin: Mentions Arthur Hayes shutting down Bitmex at the peak of the Covid death candle to save the market.
Cyberpunk spirit: the classic inspiration and ideology behind Bitcoin and Ethereum.
Third layer:
Altcoins are Bitcoin 2.0: A reference to Murad’s theory on how altcoins can develop an unbeatable holder and culture, leading to extraordinary price volatility.
Crypto is a second dimension of risk: we crash when macro is bad, and we do well when macro is good.
Ethereum is built for more Bitcoin: Mentioned that Ethereum was initially seen as an L1 scam designed to steal Bitcoin.
Sushi Vampire Attack: Sushi vampire attacks UNI, with the main developer lowering the price of the Sushi token to protect holders.
Ziliqa Annual Pump: Mentions GCR’s old tweet about Ziliqa having the most aggressive market making capabilities when it decides to pump.
Every coin goes to zero: Every coin will eventually go to zero.
Fourth floor:
Beerus is based on 16z: No one has yet discovered who Beerus, the developer behind AnubisDAO, is. Perhaps B16z is Sisyphus, and the truth will never be known.
CL is an LLM: high levels of autism and seed oils can create NPC-like geniuses.
The Truth Terminal is Baphomet: AI is essentially humanity’s attempt to play God, and GOAT refers to a mysterious deity that is both yin and yang and extremely vulgar and lowbrow at the same time.
Italian Mafia Creates DeFi 2.0: GCR has hypothesized that Dani Sestagali’s TIME, SPELL, and ICE tokens could be used to launder money for organized crime.
MEV = UBI: MEV provides a continuous source of income for smart programmers/coin users.
Liquidity fragmentation leads to poverty: The reason previous cycles seemed easier to navigate was because there were fewer bad tokens to bid on, whereas in the early cycles it was just Bitcoin, in the past two cycles it was Ethereum/Bitcoin, and now it is a wide variety of tokens, leading to frequent losses.
Fifth floor:
SBF is Ryoshi: Referring to the classic Bitboy video, he claims that SBF created SHIB.
Lunar phases and solar eclipses create bull markets: no further explanation needed.
The four-year cycle is global liquidity: no further explanation is needed.
The chain runs every two months due to wage slavery: most participants lose money, need to make multiple deposits to start PVP, and then continue gambling with more paper money until they encounter too much "rug" and return to zero. This is the classic model.
Sixth floor:
Bitboy Cocaine Abuse: Bitboy's boundless energy may stem from cocaine abuse.
mingxmecca: Old altcoin of GCR.
El Salvador Atlantis Renaissance: If El Salvador continues with its policies and leadership, it has the opportunity to become one of the most successful countries of this century.
Sanctioning countries pull up altcoins: Similar to the Oridinals joke, altcoins often provide a clean channel for money laundering, or are sent to different regions (such as $USDT on Tron).
Do Kwon Stash Cryptocurrency Hardware Wallet: No explanation needed.
OI improvement in an uptrend: no explanation needed.
Seventh floor:
Kole World Interstellar Fool: I suspect Kole was initially correct about a strong summer correction but may have been fooled by an interstellar entity into targeting low.
Satoshi Nakamoto is the CIA: There are multiple conspiracy theories.
Murad is Baproll: The most notorious SPX6900 bull promoter is probably Murad’s stand-in.
GCR's Cyber Wheelchair: Some assume that GCR's physical disability is due to his belief that trading is the only path to wealth.
Finex determines the price: No they don’t, I’m kidding.
George Floyd Never Died : Mentioned by DroydAI.
I hope you enjoy this meme as much as I do. We are not a serious industry.
So, facing this iceberg full of unknowns and risks, what should we do? The answer is simple: stay vigilant and invest rationally. While enjoying the opportunities brought by the cryptocurrency industry, we must also pay attention to the dynamics and risks of the industry, learn to use scientific methods and tools to analyze the market, and make wise decisions.
Finally, don’t forget to follow our all-weather smart assistant mlion! We have integrated five top models to answer your Web3-related questions in real time, provide accurate currency price predictions, customized currency research reports, in-depth on-chain address analysis, and flash in-depth analysis services. Let you be at ease in the world of cryptocurrency!
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The above content is for information sharing only and does not constitute any investment advice! Investment is risky, so be cautious when entering the market!
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