Where "piggyback" off Bitcoin? (Was: Crazy Trading: Muricas have no Braincells)

From	Mild Shock <janburse@fastmail.fm>
Newsgroups	sci.physics
Subject	Where "piggyback" off Bitcoin? (Was: Crazy Trading: Muricas have no Braincells)
Date	2024-12-06 01:13 +0100
Message-ID	<vitfj6$s418$1@solani.org> (permalink)
References	<vgjo2d$kj26$1@solani.org>

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Hi,

I recently was juggling with PEPE since it showed
nicer numbers than ETH. 1 PEPE is currently 0.0000001 ETH.

So instead of buying grocery with 0.0001 ETH (ca. 3.5 USD),
I used 1000 PEPE, which felt like 1000 cent?

You can do the same with FLOKI.

Can Bitcoin do that?

The PEPE meme coin, like many other meme coins, operates as a token on a 
blockchain. Specifically, PEPE runs on the Ethereum (ETH) network as an 
ERC-20 token.

Key Points about PEPE:
ERC-20 Token: PEPE is created as an ERC-20 token on the Ethereum 
blockchain, which follows the ERC-20 standard. This means it inherits 
the Ethereum blockchain's properties, including its security, 
decentralization, and compatibility with Ethereum-based wallets, 
decentralized exchanges (DEXs), and other tools.

Meme Coin Nature: PEPE is a meme coin inspired by the popular "Pepe the 
Frog" meme, similar to other meme coins like Dogecoin or Shiba Inu. 
While its value is largely driven by community engagement, meme culture, 
and speculative interest, it still functions as a token within the 
Ethereum ecosystem.

Smart Contract: As an ERC-20 token, PEPE is governed by a smart 
contract, which defines its total supply, how transactions are 
processed, and other technical parameters. These smart contracts are 
executed on the Ethereum network, ensuring that transactions with PEPE 
are transparent, secure, and decentralized.

In summary, PEPE is an ERC-20 meme coin running on the Ethereum 
blockchain, leveraging its infrastructure to provide token functionality 
while being part of the broader meme coin phenomenon.

A Bitcoin piggybacked meme coin typically refers to a meme coin that is 
either inspired by Bitcoin or uses Bitcoin's name, branding, or 
principles but operates on a different blockchain. These coins might not 
necessarily share Bitcoin's underlying technology but are often created 
to capitalize on Bitcoin's popularity or mimic its model.

For example:

Bitcoin-inspired meme coins: These meme coins may adopt Bitcoin's name 
or branding (like "Bitcoin Cash" or "Bitcoin SV"), but they are separate 
cryptocurrencies with their own blockchains and technical features.
Tokens on Bitcoin-based platforms: There are platforms like Stacks that 
allow for the creation of smart contracts and tokens on top of the 
Bitcoin network. Meme coins built using this type of technology could be 
seen as "piggybacking" off Bitcoin's security and popularity but are 
actually functioning on different protocols designed to enable smart 
contracts and token creation.
However, most meme coins (e.g., Dogecoin, Shiba Inu, PEPE) generally 
don't directly run on Bitcoin’s blockchain. Instead, they operate on 
platforms like Ethereum, Solana, or Binance Smart Chain, which allow for 
the creation of custom tokens.

In summary, while there are coins inspired by Bitcoin, many meme coins 
run on different blockchain platforms and don’t technically "piggyback" 
off Bitcoin itself, but may use its name or appeal to capitalize on its 
fame.

Mild Shock schrieb:
> Hi,
> 
> The good thing is that Muricas have
> no Braincells. They might really try to
> establish a strategic Bitcoin reserve,
> 
> basically not understanding what Crypto
> means and how limited Bitcoin will be
> in the future, Bitcoin will basically dissolve
> 
> in a few years, and be replaced by
> other Coins that are faster and unlimited.
> 
> Bye
> 
> P.S.: Even China is laughing at Muricas:
> 
> JUST IN: 🇨🇳 China Central TV reports that
> “Trump has promised to make the US the
> world's #Bitcoin and crypto capital and
> establish a strategic Bitcoin reserve.”
> https://twitter.com/BitcoinMagazine/status/1854580132423614888
> 
> But you find the idea also formulate by Muricas.

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  Where "piggyback" off Bitcoin? (Was: Crazy Trading: Muricas have no Braincells) Mild Shock <janburse@fastmail.fm> - 2024-12-06 01:13 +0100

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