$TRUMP
John Fray on Why Some Meme Coins Are Not Crypto Coins
January 26, 2025
Crypto coins are of a digital nature. They exist in a virtual
sense. There is no tangible aspect to their nature. Meme
coins are of a digital nature as well. Confusion arises
over the fact that some meme coins are indeed crypto coins,
whereas others are not.
The most famous crypto coin is the bitcoin, which is currently
trading at around $104,000. A given crypto coin is recognized
to exist, virtually, after somebody mines it. The mining process
entails discovering a digital block which fits into a blockchain.
After the block is discovered and proved to be a fit, the miner
is awarded a pre-determined fraction of a bit coin. The remaining
number of bitcoins to be mined is finite.
The most famous meme coin which is a crypto coin is the Doge coin.
The word "Doge" refers to a barking dog. Doge coins are mined.
There is a limit as to how many of them can be mined. Currently,
a Doge coin is trading at about $0.35. It fits the classification of
a meme coin because its name and dog-themed trademark are
whimsical. Also, a meme coin can be classified as such due to
its connection with a particular subject, cause or celebrity.
The most famous meme coin which is not a crypto coin is that
which was released a week ago by our country's current president.
It is not a mined coin. The coins are already allotted. The number
of coins is fixed at one billion. Businesses controlled by
the president own 800,000,000 coins. The remainder of the 200,000,000
coins are in virtual circulation. The coin is currently trading
at about $32. The president's businesses earn a commission on every trade
of one of the coins.
|
