Post
Topic
Board Altcoin Discussion
Re: Most "Memecoins" are not even coins, most "Memecoins" are tokens
by
South Park
on 07/05/2024, 14:51:01 UTC
When it comes to memecoins, it needs to be mentioned: Most "Memecoins" are not even coins, most "Memecoins" are tokens.

Often, it is just a marketing move to designate a crypto asset as "Coin" but in reality, it's a token.


A coin is based on its own, unique Blockchain, like Bitcoin, Litecoin or Dogecoin
A token is based on an existing Blockchain, like Ethereum tokens (for most ICOs) or based on BNB (for many Memecoins).

And today, most "Memecoins" are not even coins, most "Memecoins" are tokens. Keep in mind when investing.
Your are right, but at the same time all of those people do not really care, what they care about is the money they could make with by investing in those “coins”, so they do not care about things that to them are only a technicality or semantics, because at the end nothing will really change, as I doubt that any meme token that is calling itself a meme coin will change it just to try to be as accurate as possible when describing the project, since if the developers can lie a bunch of times on the white paper, I do not see why they cannot lie about the nature of their token as well.