A quick thought on Meme Coins, BTC & Fiat Currency + an update

Update: I am no longer trying to release articles weekly, I've found a better, more constructive workflow :).

We give fiat currencies value, $50 is worth something because we as a society say with $50 you can buy a certain amount of food, shelter, travel, gold or a certain amount another currency. If we as a society started rejecting $50 saying your $50 means nothing to me, I will not give you anything for that $50 because it is just a piece of paper with a number, it would eventually be considered worthless. This is surface level, without delving into the bond market economy & all of that.

As a community, we give that money value, because we trust our Government to ensure that currency remains of value, which partially depends on that countries credit rating, their ability to pay back debt. Hence, if that country ever fails to pay back their debt, or there are legitimate fears a country can't pay their debt, their credit rating falls & their $50 is now worth much less.

These currencies have value because we as a community give them value based on our trust in that Government, meme coins work in a very similar way, but in quick pump & dump mechanisms. The community votes through their money what a coin is worth over its short life span, with currencies, this happens over a long life span. With fiat we put our trust in the mechanisms of the Government, with meme coins we put our trust in the mechanisms of the chart, and community of the coin. With Bitcoin, we put our trust in the diverse community & technology determined to strengthen its value, rather than a shady Government, we could be digging our own graves trying to support the wrong currency.