Top Tweets for #howitswork

IF YOU ARE PLAYING MEMECOINS , THIS IS THE MOST IMPORTANT TWEET YOU WILL READ TODAY! I keep seeing tweets and posts accusing memecoins of being spread amongst insiders and often referring to them as a Cabal. If this upsets you , you don’t understand the meme game. LET’S DEFINE THE MEMECOIN GAME. (YES, it’s a game. There are no investments) - Memes are about attention. - Attention is a function of people in crypto that play memes x the money they have to play. -Attention is finite. In fact declining as people lose money on memes and leave the casino. - With an increasing number of coins launched every day (over 20k) and attention remaining constant , the expected payout tends towards zero. Simple maths. - By definition there is a less than a one in a million chance that a memecoin will succeed through organic success. -Since there is no technological advantage, in order to succeed a memecoin needs need to attract attention (people x money). NOW LET’S DEFINE INFLUENCE. - Influence is defined as the ability to route or channel attention using reach x credibility. -Influencers use their influence to route attention to memecoins that will either increase their credibility and therefore their reach by making their followers richer or just increase their personal wealth. It’s that simple. - Influencers will seldom send their reach to a coin they are not interested or invested in. You therefore know that of an influencer is alerting you to a coin they are probably invested. - Coin launchers/ Devs know this and so in order to get attention to their coin they get the influencers interested and invested early. - If influencers send their attention to a coin where people lose money , they lose credibility and therefore influence. Some will do this because they are willing to burn their influence for money. CONCLUSION: Successful Memecoins have little to do with memes and really just a game of influence. You are taking a bet that you are following the right set of influencers and that you can get out before they dump on you. Every single “successful” meme in this cycle is/was full of insiders from start. Some managed to offload the tokens from the influencers and transfer them to strong communities ($PEPE/$WIF), others are still being held by early influencers. In this cycle I can’t name more than 3 coins that were founded and exploded organically ($SLERF was probably one of the few). I know this is not what you want to hear but these are the rules of the game. If you are playing it is assumed you know the rules. Be safe out there.