The Iceberg Diagram Reappears: An Alternative Perspective on the Crypto Industry

The Crypto Iceberg Explained

Original author: TyrogueD, Crypto Kol

Original translation: zhouzhou, BlockBeats

Editors note: This article uses the iceberg model to introduce the different levels and dark sides of the cryptocurrency industry, from basic concepts to dark humor and conspiracy theories within the community. It reveals the historical background and some important events of Bitcoin, Ethereum, etc., as well as the mysterious culture popular in the market, the phenomenon of altcoins, and the controversial behaviors of industry figures, aiming to satirize and ridicule this not-so-serious industry.

The following is the original content (for easier reading and understanding, the original content has been reorganized):

I had seen iceberg charts on Peat related topics and decided to make one for crypto this beautiful weekend. Sure enough, it went viral after the Scorpio New Moon (a time of psychological rebirth) and provided some interesting entertainment as the market corrected.

First layer:

Fiat money is worthless: Every fiat currency, backed by nothing except the promise of the military or government, will eventually go to zero.

Bitcoin is immutable: only 21 million bitcoins can ever be mined (approximately).

Assets inflated by base currency inflation: a look at housing and stocks in Western markets pegged to the powerful petrodollar.

Smart contracts replace the economy: The vision when ETH first emerged, smart contract capabilities promised to replace real estate, banks, salesmen, etc.

Chancellor on the verge of a second bank bailout: The classic title embedded in Bitcoin鈥檚 first block, a sign of what Satoshi Nakamoto was up against when he created Bitcoin.

Second layer:

Altcoin/Bitcoin Ratio: An important indicator for traders to decide whether a particular altcoin is worth buying, this old concept is reflected in the Altcoin/Solacoin ratio, or the famous Solacoin/Ethereum up-only chart.

XRP Myth Scam: The classic pump and dump in the 2016/2017 cycle made many investors rich overnight and created a lasting XRP culture.

Silk Road: Bitcoin was initially used as a peer-to-peer currency for various items and services until traditional finance began to accept it.

Ethereum Rocks: One of the first NFT projects launched on the blockchain.

Yachtzee Saves Bitcoin: Mentions Arthur Hayes shutting down Bitmex at the peak of the Covid death candle to save the market.

Cyberpunk spirit: the classic inspiration and ideology behind Bitcoin and Ethereum.

Third layer:

Altcoins are Bitcoin 2.0: A reference to Murads theory on how altcoins can develop an unbeatable holder and culture, leading to extraordinary price volatility.

Crypto is a second dimension of risk: we crash when macro is bad, and we do well when macro is good.

Ethereum is for more Bitcoin: Mentioned that Ethereum was initially seen as an L1 scam designed to steal Bitcoin.

Sushi Vampire Attack: Sushi vampire attacks UNI, and the main developer lowers the price of the Sushi token to protect holders.

Ziliqa Annual Pull-Up: Mentioning GCR鈥檚 old tweet about Ziliqa having the most aggressive market-making capabilities when it decides to pull-up.

Every coin goes to zero: Every coin will eventually go to zero.

Fourth floor:

Beerus is based on 16 z: No one has yet discovered who Beerus, the developer behind AnubisDAO, is. Perhaps B 16 z is Sisyphus, and the truth will never be known.

CL is an LLM: high levels of autism and seed oils can create NPC-like geniuses.

The Truth Terminal is Baphomet: AI is essentially humanity鈥檚 attempt to play God, and GOAT refers to a mysterious deity that is both yin and yang and extremely vulgar and lowbrow.

Italian Mafia Creates DeFi 2.0: GCR has hypothesized that Dani Sestagali鈥檚 TIME, SPELL, and ICE tokens could be used to launder money for organized crime.

MEV = UBI: MEV provides a continuous source of income for smart programmers/coin users.

Liquidity fragmentation leads to poverty: The reason previous cycles seemed easier to navigate was because there were fewer bad tokens to bid on, whereas in the early cycles it was just Bitcoin, in the past two cycles it was Ethereum/Bitcoin, and now it is a wide variety of tokens, leading to frequent losses.

Fifth floor:

SBF is Ryoshi: Referring to the classic Bitboy video, he claims that SBF created SHIB.

Lunar phases and solar eclipses create bull markets: no further explanation needed.

The four-year cycle is global liquidity: no further explanation is needed.

The chain runs every two months due to wage slavery: most participants lose money, need to make multiple deposits to start PVP, and then continue gambling with more paper money until they encounter too much rug and return to zero. This is the classic model.

Sixth floor:

Bitboy Cocaine Abuse: Bitboys boundless energy may stem from cocaine abuse.

mingxmecca: An old altcoin of GCR.

El Salvador Atlantis Renaissance: If El Salvador continues with its policies and leadership, it has the opportunity to become one of the most successful countries of this century.

Sanctioned countries pull up altcoins: Similar to the Oridinals joke, altcoins often provide a clean channel for money laundering, or are sent to different regions (such as $USDT on Tron).

Do Kwon Stash Cryptocurrency Hardware Wallet: No explanation needed.

OI improvement in an uptrend: no explanation needed.

Seventh floor:

Kole World Interstellar Fool: I suspect Kole was initially correct about the strong summer correction but may have been fooled by an interstellar entity into targeting low.

Satoshi Nakamoto is the CIA: There are multiple conspiracy theories.

Murad is Baproll: The most notorious SPX 6900 bull promoter may be Murad鈥檚 stand-in.

GCRs Cyber Wheelchair: Some assume that GCRs physical disability is due to his belief that trading is the only path to wealth.

Finex determines the price: No they don鈥檛, I鈥檓 kidding.

George Floyd Never Died: Reference to DroydAI.

I hope you enjoy this meme as much as I do. We are not a serious industry.

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