Bitcoin and cryptocurrency memes are everywhere, and every single topic can be transformed into a meme.
Memes represent the faster communication we are used to: they’re funny, they consist of videos, images, short phrases that can be tweeted. Everything becomes easy to understand so that they are a part of the internet education: how many times do people become aware of a fact because of a meme?
Cryptocurrencies are no exception: memes feed crypto adoption and crypto adoption feeds memes, and the most interesting thing is that often memes are more powerful than a good and detailed article.
For this reason, we want to tell you about the top 7 cryptocurrency and Bitcoin memes; also, we want to take a further step and show you that top memes always have a basis of truth.
- Hey, hey, hey Carlos
This video cryptocurrency meme should be on top of any list.
The man you see is Carlos Ramos and he is attending the ceremony of Bitconnect in 2017.
This sort of company was created to allow people to trade Bitcoin through an automated program: people had to send them Bitcoin and BitConnect would trade the cryptocurrency and collect profits for all the investors, promising a 100% risk-free system.
After a while it turned out to be one of the worst scams in crypto history: the founder of BitConnect kept most of the cryptos and repaid the first investors with the money of other investors, in a classic Ponzi scheme.
In 2021, the SEC (Security and Exchange Commission) sued the company for a $2 billion fraud.
The founder of the company is not Ramos – a founder is a man called Mr. Kumbhani – but Ramos became the symbol of all crypto scams thanks to his speech.
2017 was the year of the Bitcoin rally, and a case like BitConnect demonstrated that people were looking for easy profits without really knowing what was going on, moved by the hype around specific crypto. Unfortunately, this still happens — see the more recent Squid case.
- Is that logo a warning?
The following is one of the funniest cryptocurrency memes that appeared in 2021.
As Yahoo! Finance reports, during the first week of November 2021 Ethereum gas fees hit $56.
Gas fees have always been a “con” for Ethereum. They are measured in Gwei (1 ETH = 1 quintillion Gwei) and basically represent the transaction cost of ETH, but it is not fixed.
All ETH transactions, when the system is congested, go to the so-called mempool: those who are willing to pay higher fees to see their transactions validated first – traders can simply set the max amount of gas they want to pay before the transaction.
Fortunately, the system should improve thanks to the transition to Proof-of-Stake, but the cryptocurrency meme above tells the truth – even if emphasized.
- The Elon Effect
The Elon Effect can be defined as the capability of Elon Musk to influence crypto markets.
It’s not uncommon that celebrities manage to influence markets: after all, the crypto market due to all its value to demand and offer, and if a celeb has many followers demand will increase.
But Elon Musk is the real crypto star: meme coins – like Floki Inu – were born as tributes to Elon Musk.
To be honest, he doesn’t influence the market just because of his reputation: in fact, his announcements often were related to Tesla accepting Bitcoin or Doge as payment methods for the first time – and this is usually a good reason to invest.
CoinDesk made an interesting study on the Elon Effect: by collecting data from TradingView they managed to quantify the influence of Elon Musk on prices – at the end of 2021 Musk managed to increase the price of DOGE by 43% in 2 hours with a tweet.
This, of course, creates unnatural spikes and price movements, and — as the crypto meme tells — a tweet can become more “impactful” than an attentive analysis.
- “Hey listen, I quit”
This cryptocurrency meme quotes a famous line from “The Wolf of Wall Street” – and adapts it to NFTs.
First launched in October 2015 with the project Etheria, NFTs (Non-Fungible Tokens) became a crypto sensation.
NFTs are digital tokens that represent digital items that can be interchanged.
They were mainly used for pieces of art at the beginning, but today are used to tokenize houses, to create digital fashion and unique gaming items. The result is that the most expensive NFT reached a valuation of around $70 million.
- Bitcoin and the 100K prediction
Fun fact: the real Jordan Bellfort entered the NFT market by purchasing Cryptopunk #6033.
This is one of the funniest Bitcoin memes – even if it is inspired by an unpleasant event.
In December 2021 Joe Biden, president of the US, was the protagonist of an accident when he fell up the stairs of Air Force One three times.
This is, more or less, what is happening to Bitcoin. The 100K prediction has been around for a while especially when it reached its all-time high — $69,000 — in November 2021.
After that, the price started falling, but the 100K prediction is still in place – even Goldman Sachs predicted that Bitcoin will hit at least $100 000 in 5 years if it manages to replace gold as a safe haven and store of value.
- Do Your Own Research
This cryptocurrency meme is a very good representation of what actually happens with cryptocurrencies.
Those not involved in the crypto market have misconceptions about cryptocurrencies:
- Friends actually think it’s like gambling;
- Parents actually think that it’s an incomprehensible thing;
- Governments and institutions actually have a confusing opinion about them;
- Society considers them like a game because it’s hard to understand their value if there is no correct information and education;
- Traders have a two-fold attitude towards cryptos, especially at the beginning of their trading activity.
In the crypto space, the acronym “DYOR” stands for Do Your Own Research: this concept is extremely important, and not only for trading.
Research is the first step towards responsible trading activity, mainstream adoption, and more accurate information about the importance of the revolution brought by cryptocurrencies and blockchain technology.
- Where Lambo
This cryptocurrency meme is somehow related to the previous one, but it focuses on traders.
When approaching crypto trading – and especially Bitcoin trading – it can be easy to be influenced by the profits that traders can make with cryptos.
Actually, the crypto market is far more volatile than more traditional markets. Even if this can be quite scary, if well managed it is a “pro” of cryptocurrencies.
But this needs education, experience, research, and self-control — in fact, traders should not be influenced by the hype around cryptocurrencies.
When it comes to Bitcoin, its rallies since its birth created a lot of memes and expressions, and the one related to Lambos is one of these expressions.
Lamborghini became the symbol of almost sudden wealth, especially since Peter Saddington, co-founder of VinWiki, exchanged his bitcoins for a Lamborghini.
Conclusion
Memes are a part of the internet culture, and the internet is a widely used tool.
Also, cryptocurrencies became a part of our economies, and even if they are still not so popular in terms of acquisition, they are involved in anything that is related to the economy, finance, social media, investments, financial education, and management.
Even if not all memes are a success, it is also true that they helped a lot – maybe not voluntarily – in letting people discover cryptocurrencies.
As we mentioned at the beginning of this article, it is not unusual that people, after discovering a new and popular meme, search for more information to deepen their knowledge about a certain topic.
This makes memes a fast and powerful communication tool.
Memes and cryptocurrencies are so linked that it is not only a matter of communication: memes were created around cryptocurrencies, but also new cryptocurrencies were created around memes – the so-called meme coins.