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Top 5 Joke Cryptocurrencies

With a centralized banking system, there is nothing ostensibly comedic about currency distribution. But as money becomes a thing of the internet with cryptocurrencies, currencies have gone through nearly all the rites of passage associated with becoming networked on the internet. Holders of traditional cryptocurrencies such as Ethereum and Bitcoin are used to memes and being trolled on various forums and Twitter. These five cryptocurrencies take it up a notch.

Joke currencies occupy a unique and significant space in the crypto realm. Some are blatant fundraisers for cyber pranksters, and some are hardly worth anything at all, yet they all provide a critical outlook on the hype, fervor, and gaudy behavior that a bullish crypto market produces. Their worth is largely based on their critique of how we react to the monetary world, both new and old.

5. Monacoin

monacoin

Monacoin, introduced in December 2013, is the first distinctly Japanese cryptocurrency. Its icon is a cat featured on a golden coin resembling the mint of Dogecoin. Although its website is more bare bones than tongue in cheek, Monacoin’s community is very robust and engaged in the crypto world. Having been birthed in 2013, Monacoin has longevity relative to other joke coins. Most of its humor is geared toward Japanese speakers. However, every once in a while, a Western investor will speculate, “What about Mona?”

4. Jesus Coin

jesuscoin

There are fewer things older than money and religion. Parodying the human relationship between the two is most certainly a stroke of genius. The Jesus Coin website fully mimics an ICO’s front page with a team, roadmap, and cartoon. Jesus Coin is a classic comedic coin for fans of joke coins.

3. Useless Ethereum Token

The Useless Ethereum Token is marketed as the most blatantly honest ICO ever created. The website’s creator is totally transparent about using the funds from the ICO for flat screen televisions and other electronics. Hilariously acronymed “UET” in the style of tokens that present themselves for mass trading, UET also flaunted bonuses to entice initial investors.

With an ICO in the summer of 2017, the dawn of the year of ICOs, Useless Ethereum Token is an apt reminder of the fool’s gold ICOs that plague the Ethereum network and the crypto community at large.

2. Garlicoin

garlic coin

Garlicoin arose after a Reddit post which said that if it garnered 30,000 upvotes, its author would create a new coin. Well, the author’s post actually reached its goal, and so a new coin was forked from Litecoin on December 25, 2017.

Most of Garlicoin’s comedy comes from its community’s subreddit. The initial post has enough hilarious comments to keep you entertained for the better part of an hour. Its subreddit is also a central hub for humor with a vibrant community of memes and banter. Although Garlicoin is a very new joke coin, it will be interesting to track its progress throughout the year.

1. Dogecoin

dogecoin

With over 110 billion coins mined and a rich meme culture of its own, Dogecoin is most certainly the king of joke coins. This widely known and well-loved coin was initially designed to illustrate the volatility of the crypto space and behavior. With its original flourish in December 2013, it soon became apparent that the joke was lost on its buyers, or that crypto traders will try to make a profit on just about anything. Its subsequent crash illustrated the darker side of cryptocurrency, with memes trolling the market. Perhaps even more ominously, a thief stole millions of Dogecoin around Christmas. However, the community united and donated funds to those who had lost them.

Fast forward to 2017, and Dogecoin had climbed to a $2 billion market cap. That amount has since declined, but Dogecoin continues to unite and inform crypto enthusiasts on various issues. One of its creators, Jackson Palmer, warned against its success in a series of press articles during the bull run of 2017-2018. It seems that despite its blossoming success, the joke was momentarily lost on at least one of its founders. Dogecoin’s staggering volatility, poignant moments and lingering humor place it at the top of the list.

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Bitcoin Price Watch: Price Falls, but Trends Remain High

At press time, the father of crypto has dropped by roughly $100 and is trading for approximately $6,680. Overall, this has been a relatively positive week for the master of cryptocurrencies. While the price may be down for the time being, the asset did manage to retain its $6,700 price range for several days. This is big news considering how often the currency has dropped to the low $6,000s following a small bull run. In addition, analysts do expect it to clear the $6,800 resistance line by next week, so enthusiasts have a lot to look forward to. From a legislative point of view, bitcoin may be trapped in limbo. As we reported yesterday, the Securities and Exchange Commission (SEC) has decided to postpone its decision regarding the approval of a potentially new bitcoin ETF from the VanEck SolidX Bitcoin Trust. The decision had originally been moved to September 30, next weekend to be exact, but has since been “relocated” to late December. The good news, however, is that the SEC is taking time to fully understand the project and the circumstances at hand before rendering a “yes” or “no” answer. They haven’t responded in the negative; they are simply looking for additional commentary from industry experts to make sure the ETF has traders’ best interests in mind. This is a good thing, and a decision postponement should not be what causes interest to die down. Bitcoin has managed to remain in the high $6,000 range despite this news, which shows further evidence of growing maturity. However, it does appear to be moving in a “sideways” direction. Though its avoiding bearish pullback, trading in Asia ultimately saw very little action on Sunday morning. This behavior was repeated in Eastern Europe, and its present price is believed to be the result of actions by long-position traders. Overall, trends suggest that the price is going to continue moving upward – at least for now – though movement could be slower than investors might like thanks to hardcore resistance levels bitcoin will probably encounter in its upcoming ascension. If bitcoin can surpass its present resistance, we could wind up witnessing $7,000 once again. However, if bitcoin were to fall below current support levels, the entity may find itself trapped at $6,500. In a recent discussion regarding bitcoin and the technology behind it, venture capitalist Tim Draper explained: “It’s so important for everyone. This is the beginning of something that’s bigger than the internet ever was. The internet went after information, communication, gaming and entertainment. They are all $10 billion to $100 billion-dollar industries. Maybe [one or two are] trillion-dollar industries.” Bitcoin Charts by TradingView The post Bitcoin Price Watch: Price Falls, but Trends Remain High appeared first on NullTX.

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