Pepecash and the Meme Economy

Bitcoin has been successful for many reasons. I’m not here to talk about all the reasons for this.

 

I want to talk about one of the reasons, namely it’s a system of money that has worldwide acceptability and how how it relates to meme currencies. Money used to be issued by kings, then banks, or even companies, which resulted in a limited number of people using said currency.

 

Later, money evolved into a national thing. Yes, money can be converted but that takes intermediaries(otherwise known as slippage and getting fucked).

 

Bitcoin, as you all know, is a transnational, worldwide money acceptable to anyone who chooses to participate - no slippage, no bullshit. This is a considerable improvement on current fiat systems.

Tell us something we don’t know.

Walled Gardens

The meme economy is strong and getting stronger. There are many projects in the space - rarepepe, age of chains, memorychain, spells of genesis, oasis mining, age of rust, penisium - and I’m sure there will be more soon.  With a couple of exceptions - oasis mining and memorychain come to mind - all of these projects have their own currency.

 

Spells of Genesis has bitcrystals, Age of Rust has rustbits, Penisium has Penisium (disclosure: the buyers club has a decent stake in penisium).

All of these currencies are counterparty tokens so whatever the number of hodlers, no matter the issuance, the underlying technology is the same. There is no objective reason for any of these currencies to dominate the meme economy. The valuations differ, the marketing and branding differ but, again I stress the obvious here, the technology and security of these currencies are identical. It is also obvious that a seperate currency for each projects is unneccesarily limiting.

 

I posit that a dominate, nay a single, meme currency would benefit the meme economy as a whole, mostly because everyone in the space would be using said currency which leads to the network effect, reinforcing faith in the currency, leading to wider adoption, which would encourage other projects, etc. I don’t feel the need to stretch out this simple truth into a long, rambling post. If you don’t see it, you are stupid.

Which one?

 

Pepecash for obvious reasons. Let’s talk about a couple of the reasons.

 

Community

An already vibrant community. The rarepepe project has a large, engaged community. The community is diverse and world wide.

 

Not narrow.

The scope of pepe is all encompassing, both thematically and in use-case. The 1500 existing cards are impossible to pigeonhole into a single philosophy or worldview. Born from bitcoin centered and goofy right wing roots, the project has become a stage where artists can express any theme, any philosophy, any viewpoint. The project accommodates artists with a blank canvas.  The only common denominator being pepe.

 

Versatility.

The use-case is wide open - games, gated communities, art of any kind (visual, music, all kinds of bonus content). The artists only limits seem to be their own imaginations.

 

Branding.

Pepe is still controversial. Some see this as a limiting factor. As usual, my opinion runs counter to the prevailing wisdom. I see this label of “controversy” as temporary. I believe the age of political correctness is coming to an end and I believe that pepe is the perfect avatar (is that the right word? idk) to remind people of how close the world came to intellectual fascism. This branding will become invaluable and impossible to reproduce.

 

One meme to rule them all

(lame subtitle, buddha)

If pepecash becomes the dominant meme currency (one could argue that it is already firmly on that trajectory) it will lead to further engagement and wider adoption.

Pepecash will surely lead to early adopters getting richaf.