Original Title: The Crypto Iceberg Explained
Original Author: TyrogueD, Crypto Kol
Original Compilation: zhouzhou, BlockBeats
Editor's Note: This article uses the "iceberg model" to introduce the different layers and dark sides of the cryptocurrency industry, from basic concepts to 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 phenomenon, and controversial behaviors of industry figures that are popular in the market, aiming to satirize and mock this not-so-serious industry.
The following is the original content (reorganized for better readability):
I once saw an iceberg meme related to Peat and decided to create one for cryptocurrency this beautiful weekend. Sure enough, it quickly went viral after the Scorpio new moon (a moment of psychological rebirth), providing everyone with an interesting entertainment amidst market corrections.
First Layer:
Fiat Currency is Worthless: Every fiat currency, apart from the promise of the military or government, ultimately trends towards zero.
Bitcoin is Immutable: There will only ever be 21 million Bitcoins that can be mined (approximately).
Assets Inflate Due to Base Currency Inflation: Study the housing and stock markets in the West that are tied to the powerful petrodollar.
Smart Contracts Will Replace the Economy: The vision when ETH first emerged, promising that smart contract capabilities would replace real estate, banks, salespeople, etc.
The Chancellor is About to Bail Out Banks Again: A classic headline embedded in Bitcoin's first block, marking what Satoshi Nakamoto opposed when creating Bitcoin.
Second Layer:
Altcoin/Bitcoin Ratio: An important indicator for traders to decide whether it’s worth buying a certain altcoin, this old concept is reflected in the altcoin/Solana ratio, or the famous Solana/Ethereum only trending upwards.
XRP Myth Scam: A classic pump during the 2016/2017 cycle that made many investors rich overnight, creating a lasting XRP culture.
Silk Road: Bitcoin was initially used as a peer-to-peer currency for various goods and services until traditional finance began to accept it.
Ether Rocks: One of the first NFT projects launched on the blockchain.
Yachtzee Saves Bitcoin: Referring to Arthur Hayes shutting down Bitmex during 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: Mentioning Murad's theory on how altcoins form invincible holders and culture, leading to extraordinary price fluctuations.
Cryptocurrency is the Second Dimension of Risk: We crash when the macroeconomy is bad, and we perform well when the macroeconomy is good.
Ethereum was Born for More Bitcoin: Referring to Ethereum initially being seen as an L1 scam aimed at stealing Bitcoin.
Sushi Vampire Attack: Sushi's vampire attack on UNI, where the main developer lowered the price of sushi tokens to protect holders.
Ziliqa Annual Pump: Mentioning GCR's old tweet about Ziliqa having the most aggressive market-making ability when deciding to pump.
Every Coin Goes to Zero: Every coin will ultimately go to zero.
Fourth Layer:
Beerus is Based on 16z: No one has discovered who the developer behind AnubisDAO, Beerus, really is; perhaps B16z is Sisyphus, and the truth will remain unknown forever.
CL is an LLM: High levels of autism and seed oil can create NPC-like geniuses.
Truth Terminal is Baphomet: AI is essentially humanity trying to play God, while GOAT refers to the mysterious deity of yin and yang, being both vulgar and lowbrow.
Italian Mafia Creates DeFi 2.0: GCR once hypothesized that Dani Sestagali's TIME, SPELL, and ICE tokens could be used for organized crime money laundering.
MEV = UBI: MEV provides a continuous income source for clever programmers/greedy users.
Liquidity Dispersal Leads to Poverty: The reason previous cycles seemed easier to navigate is due to the fewer number of bad tokens available for bidding; in early cycles, there was only Bitcoin, in the last two cycles it was Ethereum/Bitcoin, and now it’s a variety of tokens, leading to frequent losses.
Fifth Layer:
SBF is Ryoshi: Referring to the classic Bitboy video where he claims SBF created SHIB.
Lunar Phases and Eclipses Create Bull Markets: No further explanation needed.
Four-Year Cycle is Global Liquidity: No further explanation needed.
On-chain Runs Every Two Months Due to Wage Slavery: Most participants lose, needing multiple deposits to start PVP, then continuing to gamble with more fiat until encountering too many "rugs" and going to zero, which is a classic pattern.
Sixth Layer:
Bitboy Cocaine Abuse: Bitboy's boundless energy may stem from cocaine abuse.
mingxmecca: GCR's old altcoin.
El Salvador Atlantis Revival: If El Salvador continues its policies and leadership, it has the chance to become one of the most successful countries of the century.
Sanctioned Countries Pump Altcoins: Similar to the Oridinals joke, altcoins often provide clean channels for money laundering or are sent to different regions (e.g., $USDT on Tron).
Do Kwon Hiding Cryptocurrency Hardware Wallets: No explanation needed.
OI Rising Trend Boost: No explanation needed.
Seventh Layer:
Kole World Interstellar Foolery: I suspect Kole was initially correct about the strong correction in summer but may have been fooled by interstellar entities regarding its low target.
Satoshi is CIA: There are various conspiracy theories.
Murad is Baproll: The most notorious SPX6900 bull market promoter may be Murad's doppelgänger.
GCR's Cyber Wheelchair: Some hypothesize that GCR's physical disability is because he believes trading is the only path to wealth.
Finex Determines Prices: No, they don’t; I’m just joking.
George Floyd Never Died: Referring to DroydAI.
I hope you enjoy this meme as much as I do. We are not a serious industry.
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