Do you think meme coins are Fiat? Or no?
Discussion
Of course they are.
They are about to be categorized as collectibles.
Without laws dictating that they are valuable I don't think I'd call them fiat, but they are a symptom of the fiat system.
Question though - if they are purchased as collectibles why have hundreds of thousands of people already sold at a loss?
Worse than Fiat.
Meme coins are worse than fiat. Why? Most people don't know that fiat is bad. With meme coins, you know you're going to get rugged, but you're trying to rug someone else before they rug you. It's literally all of the failures of the legacy financial system all rolled into something that's "fun". 🤮
nah
they're dumb
but fundamentally no one's forced to buy them or interact with them in any way
I compare it to gambling 🎰 🤷♂️