MeMe Learning Notes From Yi He Binance

1. Subculture: From the Margins to the Center Stage

Expression is a commonality of humanity; good MEMEs can transcend cultural maps and evoke a smile. When the collective self-identity, emotions, and subjective intentions of the public overlap, it forms a unique value system, semantics, and presentation form, such as the Love Family in the QQ era, the social shake in the mobile video era, or the Sanhe Da Shen at the margin of the post-industrial era, thus forming a unique subculture. I did not grow up in Western culture, but I believe every culture has a certain group with which you will resonate deeply. Therefore, the subculture I mentioned earlier is very niche and outdated; it is not a good expression of MEME. However, at certain extreme forms in history, they have appeared distinctly and refreshingly.

Essentially, no particular circle is really superior. Hippies attending meditation classes may not be more tasteful than those who enjoy storytelling sessions. Those who like reincarnation and Star Wars may not have better aesthetics than gangsters, because the more niche the aesthetic, the more it lacks commonality. Moreover, our generation spans the agricultural revolution, the industrial revolution, and the information revolution, crashing into AI; chaos is the norm, and all authority has been dissolved, one idol after another is just that. Memes are silent thunder, the ultimate expression of the crowd, an impact from subculture on mainstream culture. Therefore, being edited and having tokens created is also a part of deconstruction. Thus, I feel I am not yet worthy to be at the center of MEME.

Similarly, chasing trending topics on Twitter, in CZ’s or my replies, is not the optimal path to discover or create MEMEs; MEMEs exist in your heart.

2. Who can surpass Doge?

There is only one Doge. In the first Bitcoin bull market of 2013, among countless projects attempting to clone Bitcoin, they both mocked Bitcoin and self-mocked. With a playful smile and passionate spirit, developers abandoned the project, while the community had its own vitality, spontaneously adding an important chapter to the history of the development of 암호화폐 culture. The Chinese cryptocurrency circle sent Dogecoin worldwide, creating a unique cryptocurrency track: ‘Preaching for the industry, tips come first.’ Back then, BBS messages were: ‘I see you are a nice person; I’ll tip you 10,000 Dogecoins,’ leaving the tipped person in a disarray of confusion, unable to calculate how much 10,000 Doge was worth without a calculator. Throughout the development of the crypto industry, each community has its own ‘Gann.’ Later on, Elon’s preference for Doge brought subculture into the mainstream. Today, Doge is not just a dog.

MEME is an attention economy, but it’s not just about attention. If all of this is like trending topics on Twitter, then everything is destined to be fleeting. Great MEMEs do not come from celebrities making clever moves; that is not enough to become a MEME. This is worship of those in higher positions (whether politicians or entrepreneurs), which is not cool enough.

On the other hand, those who oppose for the sake of opposition often have a face written with extreme right on their extremely left back of the head. Those who shout for decentralization often are extremely centralized. Maintain critical thinking and keep the truth while discarding the false.

Imagine someone in your group tells you to buy into a trending topic of the day; naturally, this topic will cool down by tomorrow. If this attention can become a product, a belief, or a religion, then it is possible to see the next Doge, or even surpass Doge. Who says it’s impossible? Everything is possible.

3. Is long-termism outdated?

I do not trade but hold long-term because I adhere to the logic of value investing. Similarly, in managing businesses, I also uphold long-termism, building a clock or a garden.

Binance is just an infrastructure, providing a stage. Project teams and investors might win together or lose together. This depends on ability, mindset, and judgment; top entrepreneurs are inherently rare. One must have long-termism, do your own research (DYOR), and know when to take profits. It’s not that long-termism is outdated; is it possible that you chose the wrong long-termism target?

When the wind blows to blockchain, investors have piles of money to invest in projects. A few entrepreneurs can say their projects are worth $100M, $1B, or even $100B. Everything can issue tokens, and prices and values may diverge, but over cycles, they will converge in the long term.

The market size in 2017 was not as large as it is now, and the funding scale of the DeFi summer in 2021 was also not as large as it is now. However, we see more excellent entrepreneurs investing in the Web3 industry, the industry scale is growing, but confidence is dwindling. Many users ask why project valuations cannot return to the ICO era; we can never go back to the past, but we are trying—trying to let users vote on listing tokens, vote on delisting tokens, and trying to let Web3 wallets do IDOs. Project parties can choose low-threshold, low-market-cap issuance, with real users profiting, which is certainly better than spending money to fabricate data and deceive ourselves.

Whether it’s MEME or AI, games or DeFi, social or RWA, let a hundred flowers bloom. May we have beer left in our cups after every round of bubble bursts. Fortunately, history always repeats itself. The boasts of predecessors about technology changing the world will all be realized by their successors.

I heard many serious projects do not want to persist anymore. Hey! Friends, there will always be new trends, but the world belongs to a very few people who push forward. Instead of chasing trends, be the trend.

4. Investment advice that friends often ask.

All my assets are cryptocurrencies, and my long-term holding style is not suitable for most people, but one point can be referenced: earn certain money.

1. Make money during economic cycles, roughly judging economic cycles and bull-bear markets; selling in bull markets and buying in bear markets is basic operation.

2. Any category of assets follows the principle of leading assets.

3. It is recommended to allocate at least 20% to cryptocurrencies. Land is the asset of agricultural civilization, minerals are the hard currency of the industrial age, and the leading assets of the information age are stocks of leading internet companies and cryptocurrencies with siphoning effects.

4. Some friends say that coins with good fundamentals do not fluctuate enough. If you don’t leverage or trade some high-risk tokens, there’s no opportunity; then it is recommended not to exceed 10% of your disposable assets.

5. Most of the principles are understood by everyone, and there is no need for me to speak more; it’s just hard to implement, just like losing weight.

I wish everyone knows and accomplishes this.

Related: Ethereum Stabilizes at $2,300 as Whales Halt Sell-Off, Indicating Potential Recovery

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