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A Comprehensive Guide to the Memetic Cryptocurrency

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Introduction to Memetic Cryptocurrencies

Memetic cryptocurrencies, or meme coins, are a unique class of digital assets characterized by their origins in internet culture and social media trends. Unlike traditional cryptocurrencies designed with a primary focus on technology or finance, meme coins derive their value largely from community engagement, humor, and viral marketing. They often feature playful branding and whimsical concepts that resonate with a broad audience, making them accessible and appealing to both crypto enthusiasts and casual internet users. For those interested in a deeper understanding of these dynamics, seeking guidance from investment education firms like https://bitcoin-bot.app can provide valuable insights and strategies.

The Origins and Evolution of Dogecoin

Dogecoin, the most prominent example of a memetic cryptocurrency, was created in December 2013 by software engineers Billy Markus and Jackson Palmer. Initially conceived as a joke to satirize the sudden explosion of altcoins, Dogecoin features the Shiba Inu dog from the popular “Doge” meme as its logo. Despite its humorous beginnings, Dogecoin quickly gained a devoted following, thanks to its active and passionate community.

Dogecoin’s rise was fueled by its community’s involvement in various charitable causes and social media campaigns. Notable events include raising funds to sponsor the Jamaican Bobsled Team’s participation in the 2014 Winter Olympics and numerous other philanthropic initiatives​. Over the years, Dogecoin has achieved significant milestones, including a peak market capitalization of over $85 billion in May 2021, driven by high-profile endorsements and widespread media coverage.

Memetic Cryptocurrency Mechanics

The economic model of meme coins, or tokenomics, often includes unique features designed to create value and sustain interest. For instance, Dogecoin’s block time is one minute, allowing for faster transaction confirmations compared to Bitcoin. Additionally, Dogecoin has an inflationary supply model, with 10,000 new coins being mined every minute and no maximum supply limit. This inflationary model contrasts with Bitcoin’s deflationary supply, which caps the total number of coins at 21 million​.

Creating a meme coin typically involves deploying a smart contract on a blockchain platform like Ethereum or Binance Smart Chain. The process includes defining the coin’s total supply, distribution mechanisms, and governance rules. Developers often integrate community-centric features such as tipping and fundraising tools to encourage user engagement and adoption​​.

The Role of Social Media and Influencers

Meme coins owe much of their success to viral marketing strategies and the influential role of social media. Platforms like Twitter, Reddit, and TikTok are essential for promoting meme coins and engaging with the community. High-profile endorsements from celebrities and influencers, such as Elon Musk’s tweets about Dogecoin, can significantly impact a meme coin’s value and visibility​​.

Community engagement is also crucial for the sustainability of meme coins. Developers and community managers frequently organize events, giveaways, and interactive activities to maintain interest and support. Memes, humorous content, and cultural references are regularly used to keep the community entertained and invested​.

Risks and Rewards of Investing in Memetic Cryptocurrencies

Investing in meme coins involves a high degree of risk due to their inherent volatility and speculative nature. Prices can fluctuate wildly based on social media trends, celebrity endorsements, and market sentiment. This volatility can result in significant gains but also substantial losses for investors​​.

However, the potential rewards can be substantial for those who navigate the market effectively. Early investors in successful meme coins like Dogecoin and Shiba Inu have seen remarkable returns on their investments. Understanding the market dynamics and staying informed about community activities and trends are essential strategies for maximizing the potential rewards​.

Practical Applications and Future Prospects

Beyond trading, meme coins have found various practical applications. Dogecoin, for example, has been used for tipping content creators on platforms like Reddit and Twitter, enabling microtransactions that support online communities. Additionally, meme coins have been employed in crowdfunding for charitable causes, demonstrating their potential for positive social impact​.

The future of meme coins looks promising, with ongoing technological developments and integration with decentralized finance (DeFi) platforms. Innovations such as non-fungible tokens (NFTs) and smart contract functionality can further expand the use cases and appeal of meme coins. As the crypto landscape evolves, meme coins may continue to redefine the way we perceive and use digital currencies.

Creating Your Own Meme Coin

Launching a meme coin involves several critical steps. The first step is conceptualizing the coin’s theme and branding, ensuring it resonates with a target audience. The next step is the technical development, which includes writing and deploying the smart contract on a blockchain platform. Ensuring the coin’s security through audits and robust code is essential to prevent vulnerabilities​​.

Community building is another vital aspect of a successful meme coin launch. Engaging with potential users through social media, creating entertaining content, and maintaining transparency about the project’s goals and progress are crucial for gaining trust and support​.

Conclusion

Memetic cryptocurrencies represent a fascinating intersection of internet culture, finance, and community engagement. While they carry significant risks, their potential for substantial rewards and positive social impact cannot be ignored. As the crypto ecosystem continues to evolve, meme coins may play an increasingly important role in shaping the future of digital finance.

Business

Deposit Return Scheme diversion ‘illogical’ says Pembrokeshire brewery 

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TENBY HARBOUR BREWERY and local Senedd Member Samuel Kurtz have urged the Welsh Government to reconsider its decision to withdraw from a UK-wide Deposit Return Scheme (DRS) due to its insistence on including glass.

Earlier this week, Climate Change Secretary Huw Irranca-Davies announced that the Welsh Government would no longer participate in the development of a UK-wide DRS, citing issues arising from the UK Internal Market Act 2020. This decision is believed to be influenced by the Welsh Government’s plan to include glass in its scheme—a factor that contributed to the collapse of Scotland’s DRS in 2023.

The move has been met with frustration and anger from numerous organisations, who argue that this divergence will increase costs for Welsh producers and consumers.

Commenting on the matter, Samuel Kurtz said: “This decision is deeply frustrating, and to diverge from a UK-wide scheme shows that it is not one made with the best interests of Welsh consumers and producers at its core.

“The UK market is so interlinked that any decision which places Welsh businesses at a competitive disadvantage should not proceed. These calls from a range of industry and business representatives have been ignored by the Welsh Government.

“For the sake of our businesses and consumers, I urge the Welsh Government to reconsider its decision, align itself with the UK-wide scheme, and provide proper support to Welsh businesses.”

Industries, especially the micro-brewery sector, would be especially hit hard in Wales by the Welsh Governments choice.

Speaking following this announcement, Richard Johnson, Head Brewer at Tenby Harbour Brewery said:

“The brewing industry has had to tread a path through covid lockdowns, energy price increases, a cost of living crisis and rising wage and national insurance bills, making it increasingly difficult for brewers get good returns and re-invest in their businesses.

“Wales is a recycling nation, so a blunt ‘one size fits all’ approach creates additional logistical and financial burdens on the smallest producers, when the very largest producers are generating the majority of the recycling demand.

“It also seems illogical to diverge away from a UK wide scheme which will put Welsh brewers and drinks producers at a disadvantage.

“The UK and Wales has a proud brewing heritage, but adding in measures such as DRS to small brewers means that their time and money are directed to these activities, instead of using their time for innovation and R&D, of which the UK brewing scene is known and revered for.” 

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Bluestone crowned ‘Best Small Company for UK Parks and Lodge Holidays’

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BLUESTONE is celebrating a major win after being named the Best Small Company for UK Parks and Lodges Holidays at the prestigious British Travel Awards 2024.

The announcement was made at the prestigious awards ceremony this week, marking yet another significant achievement for the popular West Wales destination.

This award recognises Bluestone’s commitment to providing exceptional family holiday experiences at its 500-acre resort in the stunning Pembrokeshire Coast National Park.

“We are absolutely thrilled to receive this award,” said Bethan Rees, Head of Marketing at Bluestone. “It’s a testament to the hard work and dedication of our entire team, who create magical and memorable experiences for families all year round. We are incredibly grateful to every single one of our guests who voted for us and who choose to visit us year on year.

“When you look at the array of other finalists, the award demonstrates why we’re so proud of winning it. This is due to our continued investment, team, and commitment to environmentally sustainable tourism.”

This award builds on Bluestone’s impressive track record. It has consistently received high praise for its family-friendly facilities, commitment to sustainability, and dedication to providing outstanding customer service. Earlier this year, Bluestone was again recognised by Which? as one of the UK’s top holiday destinations and the best rated in Wales.

The British Travel Awards are the largest consumer-voted awards programme in the UK. Winning this award highlights Bluestone’s position as a leader in the family holiday market and reinforces its reputation as a top choice for unforgettable family getaways.

Bluestone, which employs over 800 people and is one of the largest employers in West Wales, is also committed to investing in its people and local community. It provides extensive training and development through its People Services team and the Bluestone Academy. In addition, it supports a wide range of local projects and initiatives through the Bluestone Foundation.

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Business

Ascona CEO honoured at 2024 Allica Bank Great British Entrepreneur Awards

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ASCONA GROUP, the seventh-largest independent forecourt operator in the UK and one of Wales’ fastest-growing companies for the past three years, has achieved a significant milestone. Darren Briggs, CEO and founder, has been recognised at the 2024 Allica Bank Great British Entrepreneur Awards, securing wins in two prestigious categories: ‘Scale-Up Entrepreneur of the Year – Wales’ and the inaugural ‘Randall Foundation Entrepreneur of the Year – Wales.’

Celebrating its 12th anniversary, the Great British Entrepreneur Awards highlight innovators and trailblazers shaping the UK economy. The newly introduced ‘Randall Foundation Entrepreneur of the Year’ award celebrates business leaders whose ventures align with the foundation’s mission to save lives, improve life chances, and positively impact local communities.

Pembrokeshire-based Ascona’s commitment to community support has been a cornerstone of its success. The company established The Ascona Foundation in 2020 and has since donated over £400,000 to local, national, and community organisations.

Reflecting on the achievement, Darren Briggs said:
“It is a great honour to be recognised with such prestigious awards at this year’s Great British Entrepreneur Awards.

“I am incredibly proud of Ascona and everything we have achieved over the years. This is another milestone for our business and a testament to the hard work, commitment, and ethos of ‘Team Ascona.’

“However, I am most proud of our charitable endeavours and the team’s dedication to giving back. This year, we remain committed to our fundraising efforts, including our partnership with Wales Air Ambulance, as we continue to support the communities we serve.”

Since its founding, Ascona Group has focused on driving innovation in the forecourt sector while fostering community engagement. This dual commitment to growth and giving back has positioned the company as a leader in its field.

Ascona’s charitable initiatives have supported various causes, enhancing lives across Wales and beyond. Through partnerships with organisations such as Wales Air Ambulance, the Group continues to make a tangible difference.

Darren Briggs’ recognition at the awards underscores Ascona’s impact on both the business world and the communities it serves.

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